State of Michigan Retirement System’s Duolingo DUOL Stock Holding History

State of Michigan Retirement System’s Portfolio DUOL Stock Details DUOL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$118M	Buy	1,193,307 +632,807	+113%	+$78M	0.62%	27
2025 Q4	$98.4M	Buy	560,500 +551,000	+5,800%	+$130M	0.48%	30
2025 Q3	$3.06M	Buy	9,500 +100	+1%	+$33.4K	0.01%	544
2025 Q2	$3.85M	Buy	9,400 +300	+3%	+$132K	0.02%	475
2025 Q1	$2.83M	Buy	9,100 +100	+1%	+$34.2K	0.02%	539
2024 Q4	$2.92M	Buy	9,000 +100	+1%	+$31.8K	0.02%	543
2024 Q3	$2.51M	Hold	8,900	–	–	0.01%	587
2024 Q2	$1.86M	Buy	+8,900	New	+$1.82M	0.01%	656

Other funds holding DUOL

Baillie Gifford & Co Edinburgh, United Kingdom $97.9B AUM 20.73% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

VPM

Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Two Sigma Investments New York $124B AUM 33.93% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Federated Hermes Pittsburgh, Pennsylvania $61.5B AUM 30.7% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

State of Michigan Retirement System's DUOL Position: Q1 2026 in Review

State of Michigan Retirement System increased its Duolingo (DUOL) stake by 113% in Q1 2026, buying an estimated $78M and bringing the position to 1,193,307 shares worth $118M. The position accounts for 0.62% of the portfolio, ranked #27.

State of Michigan Retirement System first reported a position in DUOL in Q2 2024 and has held it in 8 quarters since. 370 funds tracked by Wall St. Rank hold DUOL as of Q1 2026.

State of Michigan Retirement System held 1,193,307 shares of Duolingo worth $118M as of Q1 2026.
State of Michigan Retirement System bought 632,807 Duolingo shares in Q1 2026, an estimated $78M.
Duolingo made up 0.62% of State of Michigan Retirement System's portfolio in Q1 2026, its #27 holding.
State of Michigan Retirement System first reported a position in Duolingo in Q2 2024 and has held it in 8 quarters since.
370 funds tracked by Wall St. Rank held Duolingo as of Q1 2026.

Based on State of Michigan Retirement System's 13F filing for Q1 2026, filed 4 May 2026.