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Duolingo
DUOL

370 hedge funds and large institutions have $3.81B invested in Duolingo in 2026 Q1 according to their latest regulatory filings, with 58 funds opening new positions, 166 increasing their positions, 112 reducing their positions, and 155 closing their positions.

New
Increased
Maintained
Reduced
Closed

48% more repeat investments, than reductions

Existing positions increased: 166 | Existing positions reduced: 112

20% more funds holding in top 10

Funds holding in top 10: 5 → 6 (+1)

2.09% more ownership

Funds ownership: 94.42% → 96.51% (+2.1%)

8% more call options, than puts

Call options by funds: $429M | Put options by funds: $397M

22% less funds holding

Funds holding: 474 → 370 (-104)

43% less capital invested

Capital invested by funds: $6.64B → $3.81B (-$2.83B)

63% less first-time investments, than exits

New positions opened: 58 | Existing positions closed: 155

Holders
370
Holders Change
-104
Holders Change %
-21.94%
% of All Funds
4.55%
Holding in Top 10
6
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+20%
% of All Funds
0.07%
New
58
Increased
166
Reduced
112
Closed
155
Calls
$429M
Puts
$397M
Net Calls
+$32.1M
Net Calls Change
+$74.7M

Top Buyers

1
Two Sigma Investments
Two Sigma Investments
New York
+$150M
2
Federated Hermes
Federated Hermes
Pennsylvania
+$144M
3
Fidelity International
Fidelity International
Bermuda
+$139M
4
Bank of America
Bank of America
North Carolina
+$137M
5
UBS Group
UBS Group
Switzerland
+$97M

Top Sellers

1
Capital World Investors
Capital World Investors
California
-$393M
2
DIG
Dragoneer Investment Group
California
-$204M
3
Fidelity Investments
Fidelity Investments
Massachusetts
-$191M
4
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$137M
5
FAM
Foxhaven Asset Management
Virginia
-$100M
Name Holding Trade Value Shares
Change 		Change in
Stake
Northwestern Mutual Wealth Management
226
Northwestern Mutual Wealth Management
Wisconsin
$388K +$403K +3,272 +491%
SOADOR
227
State of Alaska Department of Revenue
Alaska
$387K – – –
Parallax Volatility Advisers
228
Parallax Volatility Advisers
California
$384K +$238K +1,933 +98%
CC
229
Centiva Capital
New York
$378K +$473K +3,837 New
MCM
230
Massar Capital Management
Connecticut
$372K +$465K +3,773 New
UCFA
231
United Capital Financial Advisors
Texas
$367K +$459K +3,723 New
BFM
232
Boothbay Fund Management
New York
$354K -$85.1K -690 -16%
SSA
233
Schonfeld Strategic Advisors
New York
$353K +$441K +3,580 New
Blackstone Inc
234
Blackstone Inc
New York
$334K +$418K +3,392 New
Public Employees Retirement Association of Colorado
235
Public Employees Retirement Association of Colorado
Colorado
$330K – – –
M&T Bank
236
M&T Bank
New York
$322K +$128K +1,042 +47%
JF
237
Jump Financial
Illinois
$318K -$5.79M -46,995 -94%
Verition Fund Management
238
Verition Fund Management
Connecticut
$309K -$13.9K -113 -3%
SAM
239
Securian Asset Management
Minnesota
$290K – – –
TI
240
Tidal Investments
Wisconsin
$282K -$35.5K -288 -9%
Neuberger Berman Group
241
Neuberger Berman Group
New York
$282K +$353K +2,862 New
BIG
242
Brooklyn Investment Group
New York
$279K +$206K +1,673 +145%
MAG
243
MRA Advisory Group
New Jersey
$260K +$81.8K +663 +34%
CGH
244
Crossmark Global Holdings
Texas
$257K +$12.2K +99 +4%
Bank of Nova Scotia
245
Bank of Nova Scotia
Ontario, Canada
$252K +$316K +2,560 New
LOAMU
246
Lombard Odier Asset Management (USA)
New York
$248K +$310K +2,513 New
CPIG
247
Chicago Partners Investment Group
Illinois
$246K +$287K +2,331 New
GAA
248
Green Alpha Advisors
Colorado
$242K -$7.52K -61 -2%
MCA
249
MSH Capital Advisors
Arizona
$241K +$63.8K +517 +27%
Vontobel Holding
250
Vontobel Holding
Switzerland
$238K -$986 -8 -0.3%
8 9
10
11 12

DUOL Hedge Fund Activity: Q1 2026 in Review

370 of the 8,125 institutional investors tracked by Wall St. Rank reported a position in Duolingo (DUOL) for Q1 2026, worth a combined $3.81B — down 43% from $6.64B a quarter earlier.

Sellers outnumbered buyers: 155 funds closed out of DUOL and 58 opened new positions — a net loss of 97 holders — while 112 trimmed existing stakes and 166 added.

The largest buyer was Two Sigma Investments, adding an estimated $150M. The largest seller was Capital World Investors, exiting entirely with an estimated $393M sold.

  • 370 institutional investors held Duolingo (DUOL) as of Q1 2026, down from 474 in Q4 2025.
  • Funds reported $3.81B of Duolingo stock for Q1 2026, down 43% quarter-over-quarter.
  • 58 funds opened new Duolingo positions in Q1 2026 and 155 closed out, a net change of -97 holders.
  • The largest Duolingo buyer in Q1 2026 was Two Sigma Investments, an estimated $150M added.
  • The largest Duolingo seller in Q1 2026 was Capital World Investors, an estimated $393M sold.

Based on aggregated 13F filings for Q1 2026.