We are now much more than in mid -2025 and turns into a great year for my personal personal retirement portfolio (SIPP). When I write, it conveniently overtakes both FTSE 100 AND S&P 500.

This is very encouraging because I run a fairly tight ship, with less than 20 actions in this wallet. And vice versa, if a handful of basic resources is not doing well, my SIPP will probably achieve worse results. It happened dramatically in 2022.

However, most shares are double numbers this year. Below is my five largest SIPP farms.

Strong quarter

As we can see, Duolingo language shares only increased by 3%. But they did much better for a year (+80%).

Despite this, last week in the report for earnings in the second quarter, I was a bit worried. Some analysts lowered the actions because the data tracking details seemed to suggest slowing down Duolingo.

However, the quarterly numbers of commitment were robust. Every day, vigorous users (DAU) increased by 40% year -on -year to 47.7 m, and paid subscribers increased by 37% to 10.9 m. This is very impressive, taking into account that the company lifted a 60% enhance in DAU last year (and a year earlier).

Most of the revenues from Duolingo come from subscription, and the rest of the ads. Revenues from the second quarter increased by 41% to USD 252.3 million, and EBITDA was corrected in 64% to 78.7 USD. These numbers were 4.8% and 28.8% higher than the analysts expected.

CEO Luis von Ahn said: “We believe that we are still early in our journey to the development of users. We provided innovation, increasing profitability. ”

The company is now expected that year -round reservations will be around USD 1.15 billion (about 32% of the year’s enhance).

Now there has been a slack in social media after he announced in March that he became “”AI-FIRST“

The management said that the right context was lost in translation. But another PR disaster is a risk because it can lead people to remove Duolingo.

New rivals powered by AI may also appear, thanks to which the improvement of immense language models is a double -edged sword.

Should I be nervous?

Another thing I should remember is that many growth resources I have are highly valued after their robust running. At some point in this year there may be a withdrawal of the market.

Duolingo trades 11 times ahead and 37 times EBITDA (both for 2026). So there is a potential risk of valuation if the growth suddenly slows down.

However, taking a five -year view, I am very stubborn. China, in which 400 million English learners live, the fastest growing market market. Asia as a whole is the highest region of company growth.

Duolingo has 128 million vigorous users, compared to the estimated 2 billion of language learners around the world. Plus his music, mathematics and chess can be earned in the future.

Additional courses can even make it a super-application of digital education. Although this is not guaranteed, it is an electrifying perspective, especially considering the modest market capital in the amount of USD 15 billion.

For investors with a real long -term perspective (five to 10 years) I think that it is worth considering shares, despite the high valuation. I will continue to keep this DIY in my retirement in a long term and I expect that I will bring out every stock exchange variability.