Duolingo, Inc.
US ˙ NasdaqGS ˙ US26603R1068

SecurityDUOL / Duolingo, Inc.
InstitutionFmr Llc
Latest Disclosed Ownership2,761,322 shares
Ownership 7.00%
Fmr Llc ownership in DUOL / Duolingo, Inc.

2025-08-06 - Fmr Llc has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,761,322 shares of Duolingo, Inc. (US:DUOL). This represents 7.0 percent ownership of the company. In their previous filing dated 2025-05-12 , Fmr Llc had reported owning 3,555,887 shares, indicating a decrease of -22.35 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2025-08-06 2025-08-06 13G/A 3,555,887 2,761,322 -22.35 7.00 -23.08
2025-05-12 2025-05-12 13G/A 3,943,459 3,555,887 -9.83 9.10 -12.50
2025-02-07 2025-02-07 13G/A 2,663,233 3,726,560 39.93 9.80 37.78
2025-02-07 2025-02-07 13G/A 2,663,233 3,943,459 48.07 10.40 46.21
2024-11-12 2024-11-12 13G 2,663,233 7.11

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F DUOLINGO CL A COM 26603R106 1,093,339 -1,547,147 -58.59 107,770 -76.74 0.0057
2026-02-17 2025-12-31 13F DUOLINGO CL A COM 26603R106 2,640,486 -537,909 -16.92 463,405 -54.70 0.0236
2025-11-13 2025-09-30 13F DUOLINGO CL A COM 26603R106 3,178,395 417,073 15.10 1,022,935 -9.65 0.0532
2025-08-14 2025-06-30 13F DUOLINGO CL A COM 26603R106 2,761,322 -794,565 -22.35 1,132,198 2.53 0.0638
2025-05-12 2025-03-31 13F DUOLINGO CL A COM 26603R106 3,555,887 -170,674 -4.58 1,104,245 -8.61 0.0705
2025-02-13 2024-12-31 13F DUOLINGO CL A COM 26603R106 3,726,561 1,063,327 39.93 1,208,263 60.87 0.0721
2024-11-13 2024-09-30 13F DUOLINGO CL A COM 26603R106 2,663,234 564,173 26.88 751,085 71.48 0.0457
2024-08-13 2024-06-30 13F DUOLINGO CL A COM 26603R106 2,099,061 687,054 48.66 438,011 40.63 0.0280
2024-05-13 2024-03-31 13F DUOLINGO CL A COM 26603R106 1,412,007 480,753 51.62 311,461 47.43 0.0209
2024-02-13 2023-12-31 13F DUOLINGO CL A COM 26603R106 931,254 -88,387 -8.67 211,255 24.91 0.0162
2023-11-13 2023-09-30 13F DUOLINGO CL A COM 26603R106 1,019,641 280,051 37.87 169,128 59.98 0.0146
2023-08-11 2023-06-30 13F DUOLINGO CL A COM 26603R106 739,590 -244,276 -24.83 105,717 -24.64 0.0089
2023-08-11 2023-03-31 13F/A-1 DUOLINGO CL A COM 26603R106 983,866 387,189 64.89 140,290 230.55 0.0128
2023-05-11 2023-03-31 13F DUOLINGO CL A COM 26603R106 983,866 387,189 140,290 0.0026
2023-02-13 2022-12-31 13F DUOLINGO CL A COM 26603R106 596,677 324,345 119.10 42,442 63.65 0.0042
2022-11-10 2022-09-30 13F DUOLINGO CL A COM 26603R106 272,332 67,954 33.25 25,934 44.94 0.0027
2022-08-12 2022-06-30 13F DUOLINGO CL A COM 26603R106 204,378 80,972 65.61 17,893 52.44 0.0018
2022-05-13 2022-03-31 13F DUOLINGO CL A COM 26603R106 123,406 -435,506 -77.92 11,738 -80.21 0.0009
2022-02-14 2021-12-31 13F DUOLINGO CL A COM 26603R106 558,912 25,440 4.77 59,306 -33.17 0.0044
2022-02-14 2021-09-30 13F/A-1 DUOLINGO CL A COM 26603R106 533,472 533,472 88,747 0.0070
2021-11-15 2021-09-30 13F DUOLINGO CL A COM 26603R106 533,472 533,472 88,747 0.0014
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.