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TeraWulf
WULF

274 hedge funds and large institutions have $930M invested in TeraWulf in 2025 Q2 according to their latest regulatory filings, with 48 funds opening new positions, 105 increasing their positions, 70 reducing their positions, and 41 closing their positions.

New
Increased
Maintained
Reduced
Closed

123% more call options, than puts

Call options by funds: $211M | Put options by funds: $94.9M

79% more capital invested

Capital invested by funds: $520M → $930M (+$410M)

50% more repeat investments, than reductions

Existing positions increased: 105 | Existing positions reduced: 70

17% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 41

5.33% more ownership

Funds ownership: 50.05% → 55.39% (+5.3%)

1% more funds holding

Funds holding: 270 → 274 (+4)

80% less funds holding in top 10

Funds holding in top 10: 5 → 1 (-4)

Holders
274
Holders Change
+4
Holders Change %
+1.48%
% of All Funds
3.61%
Holding in Top 10
1
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-80%
% of All Funds
0.01%
New
48
Increased
105
Reduced
70
Closed
41
Calls
$211M
Puts
$94.9M
Net Calls
+$117M
Net Calls Change
+$21.8M

Top Buyers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
+$17.6M
2
Two Sigma Investments
Two Sigma Investments
New York
+$12.6M
3
DCM
Driehaus Capital Management
Illinois
+$11.5M
4
Morgan Stanley
Morgan Stanley
New York
+$10.7M
5
SAMU
SONA Asset Management (US)
New York
+$9.21M

Top Sellers

Rank Fund Capital Flow
1
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$18.5M
2
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$14M
3
GGI
Galaxy Group Investments
New York
-$6.83M
4
Wells Fargo
Wells Fargo
California
-$6.69M
5
AAP
Ardsley Advisory Partners
Connecticut
-$4.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
AQR Capital Management
126
AQR Capital Management
Connecticut
$239K -$730K -213,817 -80%
Cerity Partners
127
Cerity Partners
New York
$238K -$13.6K -3,994 -7%
Truist Financial
128
Truist Financial
North Carolina
$230K – – –
JWA
129
JFS Wealth Advisors
Pennsylvania
$219K – – –
TIAM2
130
Tru Independence Asset Management 2
Oregon
$219K – – –
Daiwa Securities Group
131
Daiwa Securities Group
Japan
$219K +$171K +50,000 New
PF
132
Phoenix Financial
Israel
$219K – – –
Cetera Investment Advisers
133
Cetera Investment Advisers
Illinois
$216K -$46.2K -13,519 -22%
Creative Planning
134
Creative Planning
Kansas
$209K +$114K +33,317 +232%
HIS
135
Harvest Investment Services
Illinois
$199K -$1.68K -492 -1%
WVP
136
Worth Venture Partners
New Jersey
$197K +$154K +45,000 New
Pictet Asset Management
137
Pictet Asset Management
Switzerland
$192K – – –
Teacher Retirement System of Texas
138
Teacher Retirement System of Texas
Texas
$191K +$4.78K +1,399 +3%
DFCM
139
Dark Forest Capital Management
Puerto Rico
$187K -$1.19M -347,173 -89%
SB
140
SIG Brokerage
New York
$182K +$142K +41,621 New
Envestnet Asset Management
141
Envestnet Asset Management
Illinois
$181K +$7.71K +2,258 +6%
Brown Advisory
142
Brown Advisory
Maryland
$180K – – –
State Board of Administration of Florida Retirement System
143
State Board of Administration of Florida Retirement System
Florida
$178K – – –
Walleye Capital
144
Walleye Capital
New York
$178K -$4.46M -1,307,157 -97%
KAS
145
Kestra Advisory Services
Texas
$176K +$5.12K +1,500 +4%
IP
146
Intellectus Partners
California
$166K – – –
SEI Investments
147
SEI Investments
Pennsylvania
$164K +$6.38K +1,869 +5%
BNP Paribas Financial Markets
148
BNP Paribas Financial Markets
France
$164K -$596K -174,428 -82%
AIC
149
Anthracite Investment Company
Texas
$158K +$123K +36,000 New
MG
150
Marex Group
$155K +$121K +35,333 New
4 5
6
7 8

WULF Hedge Fund Activity: Q2 2025 in Review

274 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in TeraWulf (WULF) for Q2 2025, worth a combined $930M — up 79% from $520M a quarter earlier.

Buyers outnumbered sellers: 48 funds opened new WULF positions and 41 closed out — a net gain of 7 holders — while 105 added to existing stakes and 70 trimmed.

The largest buyer was Jane Street, opening a new position worth an estimated $17.6M. The largest seller was Dimensional Fund Advisors, cutting an estimated $18.5M.

  • 274 institutional investors held TeraWulf (WULF) as of Q2 2025, up from 270 in Q1 2025.
  • Funds reported $930M of TeraWulf stock for Q2 2025, up 79% quarter-over-quarter.
  • 48 funds opened new TeraWulf positions in Q2 2025 and 41 closed out, a net change of +7 holders.
  • The largest TeraWulf buyer in Q2 2025 was Jane Street, an estimated $17.6M added.
  • The largest TeraWulf seller in Q2 2025 was Dimensional Fund Advisors, an estimated $18.5M sold.

Based on aggregated 13F filings for Q2 2025.