Coursera (COUR): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
3 concentrated managers hold it (−1 vs last quarter); combined they have held more shares for 4 quarters in a row (3 added, 0 trimmed). Its median weight in those portfolios is 5.3%.
Who owns Coursera?
Holders reporting more than 5% of the shares to the SEC (Schedules 13D/13G): Pale Fire Capital, 10.9% (13G/A filed Sep 29, 2026), WJRJJ Ventures, 9.6% (13D filed Sep 21, 2026), Caledonia (Private) Investments Pty, 7.2% (13G/A filed Feb 17, 2026) and BlackRock, 6.7% (13G/A filed Apr 17, 2025). Insight Holdings Group, LLC is listed on Form 4 filings as an owner of more than 10%. As of Jun 30, 2026, the largest holders reported on Form 13F were BlackRock (12.2% of the shares), Pale Fire Capital (12.1%) and Caledonia (Private) Investments Pty (12.0%).
Which institutions hold the most Coursera shares?
Per Form 13F filings as of Jun 30, 2026, as a share of all shares outstanding:
- 1. BlackRock: 12.2%
- 2. Pale Fire Capital: 12.1%
- 3. Caledonia (Private) Investments Pty: 12.0%
- 4. Baillie Gifford: 9.1%
- 5. NEA Management: 7.6%
- 6. Vanguard Portfolio Management: 7.0%
- 7. Ameriprise Financial: 6.7%
- 8. Vanguard Capital Management: 6.5%
- 9. Insight Holdings Group: 5.3%
- 10. Westerly Capital Management: 3.6%
Sources:13G/A by Pale Fire Capital (Sep 29, 2026) ↗13D by WJRJJ Ventures (Sep 21, 2026) ↗13G/A by Caledonia (Private) Investments Pty (Feb 17, 2026) ↗13G/A by BlackRock (Apr 17, 2025) ↗All of the company's proxy statements on EDGAR ↗
13F percentages divide the shares each institution reports by the shares outstanding on the cover of the company's latest report before the quarter end (Apr 23, 2026). Entities of the same group file separately and are not added up. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Coursera revenue
Coursera reported annual revenue of $757.5 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Quarter flow (concentrated managers)
Change in managers (4 → 3): 0 opened · 1 exited = −1
Net flow in the quarter: +$75.3M (+13.3 M shares) · bought $107M and sold $31.7MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Accumulation: combined they have held more shares for 4 quarters in a row (3 added, 0 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.
The set of concentrated managers changed between quarters: with the set as it was then, 5 held it last quarter (the chart point); with today's set, 4 (the base for the change).
Concentrated managers holding it
- Pale Fire CapitalIncreased$115M8.2%+4.0 pp
- Caledonia (Private) Investments PtyIncreased$115M3.9%+1.5 pp
- Quaker Capital InvestmentsIncreased$19.4M5.3%+0.2 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of COUR (all 13F filers)
- BlackRock20.6 MIndex manager · 7.80% of the company+6.8 M
- Pale Fire Capitalconcentrated20.4 MType not verified · 7.73% of the company+9.9 M
- Caledonia (Private) Investments Ptyconcentrated20.4 MInvestment firm · 7.71% of the company+8.9 M
- Baillie Gifford15.4 MInvestment firm · 5.83% of the company+759 K
- NEA Management12.9 MPrivate equity or venture capital · 4.87% of the company0
- Vanguard Portfolio Management11.8 MIndex manager · 4.46% of the company+4.5 M
- Ameriprise Financial11.4 MWealth adviser · 4.29% of the company+6.8 M
- Vanguard Capital Management11.0 MIndex manager · 4.15% of the company+4.6 M
- Insight Holdings Group8.9 MPrivate equity or venture capital · 3.38% of the company+8.9 M
- Westerly Capital Management6.1 MInvestment firm · 2.30% of the company+4.4 M
- Shares
- 20.6 M
- Change
- +6.8 M
- % of the company
- 7.80%
See more
- Type
- Index manager
- Value
- $116M
- Pale Fire Capitalconcentrated
- Shares
- 20.4 M
- Change
- +9.9 M
- % of the company
- 7.73%
See more
- Type
- Type not verified
- Value
- $115M
- Caledonia (Private) Investments Ptyconcentrated
- Shares
- 20.4 M
- Change
- +8.9 M
- % of the company
- 7.71%
See more
- Type
- Investment firm
- Value
- $115M
- Shares
- 15.4 M
- Change
- +759 K
- % of the company
- 5.83%
See more
- Type
- Investment firm
- Value
- $86.9M
- Shares
- 12.9 M
- Change
- 0
- % of the company
- 4.87%
See more
- Type
- Private equity or venture capital
- Value
- $72.6M
- Shares
- 11.8 M
- Change
- +4.5 M
- % of the company
- 4.46%
See more
- Type
- Index manager
- Value
- $66.5M
- Shares
- 11.4 M
- Change
- +6.8 M
- % of the company
- 4.29%
See more
- Type
- Wealth adviser
- Value
- $64.0M
- Shares
- 11.0 M
- Change
- +4.6 M
- % of the company
- 4.15%
See more
- Type
- Index manager
- Value
- $61.9M
- Shares
- 8.9 M
- Change
- +8.9 M
- % of the company
- 3.38%
See more
- Type
- Private equity or venture capital
- Value
- $50.4M
- Westerly Capital Management
- Shares
- 6.1 M
- Change
- +4.4 M
- % of the company
- 2.30%
See more
- Type
- Investment firm
- Value
- $34.3M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Held by institutions (13F)
Institutions (13F): 140.5% of the shares: above 100% (securities lending or double reporting) · top 10: 82.0% · in index firms: 27.3% of the institutional total
Q2 2026: 140.5%
Shares reported by the 251 13F filers as of Jun 30, 2026 (not counting 1 position with implausible figures), divided by the shares outstanding on the cover of the company's latest report (Apr 23, 2026). It is not all institutional ownership: only managers above $100M file a 13F, and it excludes short positions. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. We only publish it where the figure is credible: not for ADRs, companies with more than one share class or stale shares-outstanding data.
Fundamentals
12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.
- Operating margin
- -17.8%
- Net margin
- -15.4%
- ROE
- -11.7%
- Revenue (TTM)
- $885M
- Revenue growth
- 22.7%
- Net income (TTM)
- $-136M
- Net debt / EBITDA
- —
- Free cash flow (TTM)
- $33.4M
- Quality vs sector
- 33/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 163.8 M
- 1 year
- +4.1%
- 3 years
- +12.8%
- 5 years
- no data
- Buybacks (FY 2025)
- $0
- Share issuance
- no data
- Stock-based compensation
- $95.1M12.6% of revenue
- Dividends paid
- no data
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- no datanot calculated with negative net income
- Debt due within 12 months
- no data
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 1 · $11.4M
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Baillie Giffordfell below 5%13G · amendmentfiling ↗Event: Sep 30, 2026 · filed: Oct 5, 2026
- Pale Fire Capital10.9%13G · amendmentfiling ↗Event: Sep 25, 2026 · filed: Sep 29, 2026
- New Enterprise Associates 134.9%(fell below 5%)13G · amendmentfiling ↗Event: Sep 24, 2026 · filed: Sep 24, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Exit or restructuring costs (Item 2.05)
Change in directors or officers (Item 5.02)
«Coursera Announces Legal Leadership Transition»
Change in directors or officers (Item 5.02)
«Coursera Completes Combination with Udemy to Build the World’s Most Comprehensive Skills Platform»
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
«Coursera Announces Appointment of Interim CFO»
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
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