Duolingo
DUOL
545 hedge funds and large institutions have $12.6B invested in Duolingo in 2025 Q3 according to their latest regulatory filings, with 90 funds opening new positions, 224 increasing their positions, 180 reducing their positions, and 123 closing their positions.
75% more funds holding in top 10
Funds holding in top 10: 8 → 14 (+6)
24% more repeat investments, than reductions
Existing positions increased: 224 | Existing positions reduced: 180
0.36% more ownership
Funds ownership: 98.03% → 98.38% (+0.36%)
9% less call options, than puts
Call options by funds: $1.09B | Put options by funds: $1.21B
7% less funds holding
Funds holding: 584 → 545 (-39)
20% less capital invested
Capital invested by funds: $15.8B → $12.6B (-$3.21B)
27% less first-time investments, than exits
New positions opened: 90 | Existing positions closed: 123
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DIG
Dragoneer Investment Group
San Francisco,
California
|
+$404M |
| 2 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
+$210M |
| 3 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
+$153M |
| 4 |
Fidelity Investments
Boston,
Massachusetts
|
+$139M |
| 5 |
Balyasny Asset Management
Chicago,
Illinois
|
+$139M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$271M |
| 2 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$162M |
| 3 |
Two Sigma Advisers
New York
|
-$142M |
| 4 |
Two Sigma Investments
New York
|
-$107M |
| 5 |
Renaissance Technologies
New York
|
-$97.8M |
DUOL Hedge Fund Activity: Q3 2025 in Review
545 of the 7,638 institutional investors tracked by Wall St. Rank reported a position in Duolingo (DUOL) for Q3 2025, worth a combined $12.6B — down 20% from $15.8B a quarter earlier.
Sellers outnumbered buyers: 123 funds closed out of DUOL and 90 opened new positions — a net loss of 33 holders — while 180 trimmed existing stakes and 224 added.
The largest buyer was Dragoneer Investment Group, adding an estimated $404M. The largest seller was T. Rowe Price Associates, cutting an estimated $271M.
- 545 institutional investors held Duolingo (DUOL) as of Q3 2025, down from 584 in Q2 2025.
- Funds reported $12.6B of Duolingo stock for Q3 2025, down 20% quarter-over-quarter.
- 90 funds opened new Duolingo positions in Q3 2025 and 123 closed out, a net change of -33 holders.
- The largest Duolingo buyer in Q3 2025 was Dragoneer Investment Group, an estimated $404M added.
- The largest Duolingo seller in Q3 2025 was T. Rowe Price Associates, an estimated $271M sold.
Based on aggregated 13F filings for Q3 2025.