Caption Management, LLC WULF — TERAWULF INC

Ownership history in Caption Management, LLC  ·  22 quarters on record

AI Ownership Summary

Caption Management, LLC reported TERAWULF INC (WULF) in 22 quarterly 13F filings from 2023 Q4 through 2025 Q4. Peak portfolio weight reached 0.52% in 2025 Q3. The latest visible filing shows WULF at 0.13% of the fund.

This page tracks quarterly shares, estimated market value, portfolio weight, filing dates, and disclosure-aligned stock prices directly from SEC EDGAR 13F filings. Older history is available after unlock; the visible window still shows the most recent pattern.

What this WULF ownership page tells you

This page is designed to answer the real investor question behind a 13F filing: how meaningful was Caption Management, LLC's position in TERAWULF INC, and how did that conviction change over time? You can read the holding window, peak weight, latest reported size, disclosure timing, and quarter-by-quarter changes without piecing the story together from raw SEC rows.

Freshest filing
Latest Reported Filing
2025 Q4

WULF was reported at 0.13% of portfolio in the most recent visible filing.

High-water mark
Peak Conviction
0.52% in 2025 Q3

Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.

Time in book
Holding Window
2023 Q4 to 2025 Q4

Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.

Decision context
Why It Matters
Position size beats headlines

Knowing that a fund owned a stock is useful. Knowing whether it was a 0.20% placeholder or a true high-conviction position is where the signal actually starts.

WULF stock page Caption Management, LLC fund profile Caption Management, LLC full holdings
How Caption Management, LLC held WULF — position size vs. price
% of Fund (quarterly)    WULF price (quarter-end, indexed to 100)    SPY (indexed to 100)    QQQ (indexed to 100)
📋 Quarterly Holdings History 20 quarters  ▾
Quarter Action Sold % After 3M Timing Shares Change Chg % % of Fund Mkt Value Filed Price (Filed)
2025 Q4 REDUCED 54.7% +25.6% ❌ 1,664,636 -2,007,864 -54.7% 0.13% $19.1M 2026-02-14 (Est.) $16.26
2025 Q4 REDUCED 35.2% +25.6% ❌ 3,672,500 -1,992,100 -35.2% 0.29% $42.2M 2026-02-14 (Est.) $16.26
2025 Q4 REDUCED — — — 5,664,600 -219,000 -3.7% 0.45% $65.1M 2026-02-14 (Est.) $16.26
2025 Q3 ADDED — — — 5,883,600 +4,156,600 +240.7% 0.52% $67.2M 2025-11-14 $10.99
2025 Q3 ADDED — — — 1,727,000 +827,000 +91.9% 0.15% $19.7M 2025-11-14 $10.99
2025 Q2 REDUCED 66.2% +164.8% ❌ 900,000 -1,762,900 -66.2% 0.04% $3.9M 2025-08-14 $8.71
2025 Q2 ADDED — — — 2,662,900 +1,633,100 +158.6% 0.13% $11.7M 2025-08-14 $8.71
2025 Q2 REDUCED 80.5% +164.8% ❌ 1,029,800 -4,252,700 -80.5% 0.05% $4.5M 2025-08-14 $8.71
2025 Q1 ADDED — — — 5,282,500 +5,044,100 +2115.8% 0.14% $14.4M 2025-05-15 $3.52
2025 Q1 REDUCED 39.9% +60.4% ❌ 238,400 -158,186 -39.9% 0.01% $651K 2025-05-15 $3.52
2025 Q1 REDUCED 84.5% +60.4% ❌ 396,586 -2,165,814 -84.5% 0.01% $1.1M 2025-05-15 $3.52
2024 Q4 ADDED — — — 2,562,400 +2,452,400 +2229.5% 0.14% $14.5M 2025-02-14 $4.87
2024 Q4 REDUCED 53.1% -51.8% ✅ 110,000 -124,500 -53.1% 0.01% $623K 2025-02-14 $4.87
2024 Q3 REDUCED 86.5% +13.7% ❌ 234,500 -1,506,800 -86.5% 0.02% $1.1M 2024-11-14 $6.95
2024 Q3 REDUCED 10.7% +13.7% ❌ 1,741,300 -209,100 -10.7% 0.13% $8.1M 2024-11-14 $6.95
2024 Q2 ADDED — — — 1,950,400 +1,825,400 +1460.3% 0.13% $8.7M 2024-08-14 $3.35
2024 Q2 ADDED — — — 125,000 +75,000 +150.0% 0.01% $556K 2024-08-14 $3.35
2024 Q1 REDUCED 81.8% +98.1% ❌ 50,000 -224,400 -81.8% 0.00% $132K 2024-05-15 $2.12
2024 Q1 ADDED — — — 274,400 +70,000 +34.2% 0.01% $722K 2024-05-15 $2.12
2023 Q4 REDUCED 67.0% +1.2% ❌ 204,400 -414,100 -67.0% 0.01% $491K 2024-02-14 $2.46
2 older quarters hidden  —  Sign in free or upgrade to Premium to see full history

🏢 Other funds also holding WULF

As of 2026 Q1 — sorted by position size

Hodges Capital Management Inc. 3Y 7Y 2.99% Western Standard LLC 3Y 7Y 2.09% REX Advisers, LLC 2.08% Arlington Capital Management, Inc. 3Y 7Y 1.73% Covestor Ltd 3Y 1.34% Zweig-DiMenna Associates LLC 3Y 7Y 1.33% First Dallas Securities Inc. 3Y 7Y 0.82% Sippican Capital Advisors 3Y 7Y 0.78% SEVEN MILE ADVISORY 0.58% Freemont Management S.A. 3Y 0.49%

FAQ About Caption Management, LLC and WULF

These are the practical questions this page is built to answer before you even open the full history table.

How long has Caption Management, LLC reported owning WULF?

Caption Management, LLC reported WULF across 20 quarterly 13F filings, from 2023 Q4 through 2025 Q4.

What was the largest reported WULF position in Caption Management, LLC's portfolio?

The largest reported portfolio weight for WULF was 0.52% in 2025 Q3.

What is the latest reported WULF position on this page?

The most recent filing on this page is 2025 Q4, when Caption Management, LLC reported 1,664,636 shares, equal to 0.13% of portfolio, with an estimated market value of $19.1M.

What does the chart on this WULF ownership page compare?

The chart compares Caption Management, LLC's quarterly WULF portfolio weight with the stock's indexed share price, so you can see whether the fund was building, trimming, or holding the position as price moved.

How well did Caption Management, LLC time their WULF position?

Based on 13F filing dates vs. subsequent WULF price moves, Caption Management, LLC correctly timed 13 out of 21 reported position changes (62%). The annualised alpha on WULF relative to SPY over the holding period was +75.8%.

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