Duolingo
DUOL
474 hedge funds and large institutions have $6.64B invested in Duolingo in 2025 Q4 according to their latest regulatory filings, with 93 funds opening new positions, 151 increasing their positions, 190 reducing their positions, and 155 closing their positions.
7% less call options, than puts
Call options by funds: $591M | Put options by funds: $634M
3.97% less ownership
Funds ownership: 98.39% → 94.42% (-4%)
13% less funds holding
Funds holding: 545 → 474 (-71)
21% less repeat investments, than reductions
Existing positions increased: 151 | Existing positions reduced: 190
40% less first-time investments, than exits
New positions opened: 93 | Existing positions closed: 155
47% less capital invested
Capital invested by funds: $12.6B → $6.64B (-$5.93B)
64% less funds holding in top 10
Funds holding in top 10: 14 → 5 (-9)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
+$479M |
| 2 |
SOMRS
State of Michigan Retirement System
Lansing,
Michigan
|
+$130M |
| 3 |
Fidelity International
Hamilton,
Bermuda
|
+$117M |
| 4 |
AS
Altshuler Shaham
Tel Aviv,
Israel
|
+$57.2M |
| 5 |
Millennium Management
New York
|
+$54M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCP
Durable Capital Partners
Bethesda,
Maryland
|
-$178M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
-$127M |
| 3 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$119M |
| 4 |
DIG
Dragoneer Investment Group
San Francisco,
California
|
-$99.2M |
| 5 |
Balyasny Asset Management
Chicago,
Illinois
|
-$89.5M |
DUOL Hedge Fund Activity: Q4 2025 in Review
474 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Duolingo (DUOL) for Q4 2025, worth a combined $6.64B — down 47% from $12.6B a quarter earlier.
Sellers outnumbered buyers: 155 funds closed out of DUOL and 93 opened new positions — a net loss of 62 holders — while 190 trimmed existing stakes and 151 added.
The largest buyer was Baillie Gifford & Co, adding an estimated $479M. The largest seller was Durable Capital Partners, cutting an estimated $178M.
- 474 institutional investors held Duolingo (DUOL) as of Q4 2025, down from 545 in Q3 2025.
- Funds reported $6.64B of Duolingo stock for Q4 2025, down 47% quarter-over-quarter.
- 93 funds opened new Duolingo positions in Q4 2025 and 155 closed out, a net change of -62 holders.
- The largest Duolingo buyer in Q4 2025 was Baillie Gifford & Co, an estimated $479M added.
- The largest Duolingo seller in Q4 2025 was Durable Capital Partners, an estimated $178M sold.
Based on aggregated 13F filings for Q4 2025.