WULFNasdaqFinance ServicesFiscal year ends December 31
TERAWULF INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$12.06+0.38 (+3.25%)
Close on Oct 19, 2026
- Market cap
- $5.86B
- P/E (TTM)
- –
- Dividend yield
- 0.00%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
79.6%
397M of 499M shares
Institutional holders
501
127 new, 67 sold out
Net institutional buying
81M
In Q2 2026
Insider trades, 12 months
13 buys · 17 sales
Net sold $35.65M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Paul B. Prager | 43,364,058 | 10.70% | 13D (active) amendment | Aug 12, 2025 |
| Alphabet Inc. | 41,011,803 | 7.60% | 13G (passive) | Sep 11, 2026 |
| Bank Of Nova Scotia | 39,824,376 | 7.70% | 13G (passive) amendment | Jun 30, 2026 |
| Morgan Stanley | 30,388,221 | 6.10% | 13G (passive) | Jun 30, 2026 |
| Citadel Securities GP LLC | 29,091,362 | 5.90% | 13G (passive) | May 19, 2026 |
| OR Nazar M. Khan | 27,958,151 | 7.27% | 13D (active) amendment | Aug 12, 2024 |
| Kenneth Griffin | 22,799,811 | 5.40% | 13G (passive) | Dec 1, 2025 |
| Stephen F. Mandel, Jr. | 21,745,129 | 5.10% | 13G (passive) | Apr 8, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of WULF | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Lone Pine Capital LLC | 24,144,625 | 4.84% | $596.37M | +4,223,195 | 3.65% |
| BlackRock, Inc. | 23,392,928 | 4.69% | $577.81M | −4,749,097 | 0.01% |
| Vanguard Portfolio Management LLC | 22,295,667 | 4.47% | $550.70M | −166,755 | 0.02% |
| Vanguard Capital Management LLC | 17,896,846 | 3.59% | $442.05M | +2,269,589 | 0.01% |
| FMR LLC | 14,444,267 | 2.89% | $356.77M | +9,654,559 | 0.02% |
| Value Aligned Research Advisors, LLC | 12,263,135 | 2.46% | $302.90M | +4,414,903 | 0.76% |
| Morgan Stanley | 11,894,191 | 2.38% | $293.79M | +5,964,209 | 0.02% |
| Two Sigma Investments, LP | 11,495,860 | 2.30% | $283.95M | +3,658,763 | 0.21% |
| Geode Capital Management, LLC | 7,916,252 | 1.59% | $233.99M | −607,724 | 0.01% |
| Scoggin Management LP | 7,825,000 | 1.57% | $193.28M | +325,000 | 20.68% |
| Invesco Ltd. | 7,107,793 | 1.42% | $175.56M | +3,083,669 | 0.01% |
| Citadel Advisors LLC | 7,095,725 | 1.42% | $175.26M | +4,271,091 | 0.02% |
| State Street Corp | 6,923,671 | 1.39% | $171.01M | −689,989 | 0.01% |
| Voloridge Investment Management, LLC | 6,882,819 | 1.38% | $170.01M | +1,023,402 | 0.72% |
| Price T Rowe Associates Inc /Md/ | 6,322,828 | 1.27% | $156.18K | +1,276,292 | 0.02% |
| Driehaus Capital Management LLC | 6,163,879 | 1.24% | $152.25M | +100,879 | 0.88% |
| Squarepoint Ops LLC | 6,034,956 | 1.21% | $149.06M | +2,505,901 | 0.16% |
| Bank Of America Corp /De/ | 5,670,334 | 1.14% | $140.06M | −107,124 | 0.01% |
| Nomura Holdings Inc | 5,518,091 | 1.11% | $136.30M | +2,400,939 | 0.16% |
| Point72 Asset Management, L.P. | 5,173,625 | 1.04% | $127.79M | +2,040,503 | 0.14% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 501 | 397M | 79.6% | 127 / 181 | 141 / 67 | 126M | 45M |
| Q1 2026 | 448 | 317M | 63.5% | 111 / 161 | 132 / 64 | 123M | 68M |
| Q4 2025 | 409 | 295M | 59.1% | 129 / 144 | 107 / 41 | 82M | 58M |
| Q3 2025 | 327 | 272M | 54.6% | 95 / 112 | 85 / 39 | 106M | 47M |
| Q2 2025 | 274 | 214M | 42.9% | 48 / 104 | 71 / 41 | 56M | 34M |
| Q1 2025 | 270 | 192M | 38.5% | 70 / 87 | 76 / 61 | 58M | 55M |
| Q4 2024 | 263 | 189M | 37.9% | 81 / 103 | 56 / 36 | 57M | 35M |
| Q3 2024 | 220 | 167M | 33.4% | 59 / 79 | 53 / 42 | 78M | 64M |
| Q2 2024 | 204 | 171M | 34.2% | 88 / 66 | 27 / 14 | 107M | 8M |
| Q1 2024 | 130 | 72M | 14.4% | 33 / 44 | 31 / 12 | 18M | 11M |
| Q4 2023 | 110 | 65M | 13.1% | 32 / 46 | 14 / 20 | 23M | 4M |
| Q3 2023 | 98 | 47M | 9.4% | 35 / 42 | 13 / 8 | 18M | 3M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of WULF | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 12,586,735 | 2.52% | $310.89M | 0.01% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 9,088,696 | 1.82% | $224.49M | 0.12% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 6,967,635 | 1.40% | $178.09M | 0.10% | May 31, 2026 |
| Vanguard Small-Cap Growth Index Fund | 5,239,111 | 1.05% | $129.41M | 0.28% | Jun 30, 2026 |
| Invesco Discovery Fund | 5,167,239 | 1.04% | $132.07M | 1.69% | May 31, 2026 |
| Vanguard Extended Market Index Fund | 4,602,781 | 0.92% | $113.69M | 0.12% | Jun 30, 2026 |
| SMALLCAP World Fund Inc | 3,428,561 | 0.69% | $84.69M | 0.09% | Jun 30, 2026 |
| T. Rowe Price New Horizons Fund, Inc. | 2,826,497 | 0.57% | $69.81M | 0.47% | Jun 30, 2026 |
| Columbia Small Cap Growth Fund | 2,210,644 | 0.44% | $56.50M | 1.54% | May 31, 2026 |
| iShares Russell Mid-Cap Growth ETF | 2,135,426 | 0.43% | $52.75M | 0.24% | Jun 30, 2026 |
| iShares Expanded Tech-Software Sector ETF | 2,055,226 | 0.41% | $50.76M | 0.37% | Jun 30, 2026 |
| Fidelity Extended Market Index Fund | 1,946,092 | 0.39% | $49.74M | 0.12% | May 31, 2026 |
| Federated Hermes MDT Mid Cap Growth Fund | 1,881,945 | 0.38% | $33.24M | 0.50% | Jul 31, 2026 |
| PGIM Jennison Small Company Fund | 1,868,053 | 0.37% | $46.14M | 1.32% | Jun 30, 2026 |
| Amplify Blockchain Technology ETF | 1,841,588 | 0.37% | $45.49M | 3.91% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Nazar M. Khan | Chief Technology Officer, Director | 28,163,527 | 5.64% | Sep 29, 2026 |
| Paul B. Prager | Chief Executive Officer, Director | 40,370,445 | 8.09% | Sep 23, 2026 |
| Kerri M. Langlais | Chief Strategy Officer, Director | 5,245,082 | 1.05% | Aug 3, 2026 |
| William Joseph Tanimoto | Chief Accounting Officer | 55,564 | 0.01% | Aug 17, 2026 |
| Patrick Fleury | Chief Financial Officer | 4,505,519 | 0.90% | Aug 3, 2026 |
| Kenneth J. Deane | Chief Acct Officer + Treasurer | 595,401 | 0.12% | May 19, 2025 |
| Michael C. Bucella | Director | 350,789 | 0.07% | Sep 16, 2026 |
| Catherine J. Motz | Director | 153,218 | 0.03% | Sep 9, 2026 |
| Walter E. Carter | Director | 229,090 | 0.05% | Sep 1, 2026 |
| Lisa A. Prager | Director | 311,510 | 0.06% | Jul 1, 2026 |
| Amanda Fabiano | Director | 96,792 | 0.02% | Jun 25, 2026 |
| Steven T. Pincus | Director | 399,391 | 0.08% | Jun 25, 2026 |
| Christopher Allen Jarvis | Director | 14,180 | 0.00% | Jan 3, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Nazar M. Khan Chief Technology Officer, Director | Sep 29, 2026 | Option exercise | +666,667 | – | – | 667,167 |
| Michael C. Bucella Director | Sep 15, 2026 | Buy | +6,085 | $14.79 | $90.00K | 350,789 |
| Catherine J. Motz Director | Sep 8, 2026 | Sale | −56,023 | $17.81 | $997.77K | 153,218 |
| Walter E. Carter Director | Aug 31, 2026 | Sale | −130,626 | $15.14 | $1.98M | 229,090 |
| Paul B. Prager Chief Executive Officer, Director | Aug 27, 2026 | Sale(10b5-1 plan) | −137,500 | $17.06 | $2.35M | 3,807,552 |
| Michael C. Bucella Director | Aug 17, 2026 | Buy | +2,860 | $17.47 | $49.96K | 344,704 |
| William Joseph Tanimoto Chief Accounting Officer | Aug 16, 2026 | Option exercise | +6,666 | – | – | 55,564 |
| Michael C. Bucella Director | Aug 14, 2026 | Buy | +3,023 | $16.54 | $50.00K | 341,844 |
| Kerri M. Langlais Chief Strategy Officer, Director | Aug 3, 2026 | Returned to company | −276,500 | – | – | 4,380,381 |
| Kerri M. Langlais Chief Strategy Officer, Director | Aug 1, 2026 | Option exercise | +500,000 | – | – | 4,656,881 |
| Patrick Fleury Chief Financial Officer | Aug 1, 2026 | Option exercise | +500,000 | – | – | 500,000 |
| Lisa A. Prager Director | Jun 30, 2026 | Award | +1,013 | – | – | 311,510 |
| Walter E. Carter Director | Jun 30, 2026 | Award | +1,266 | – | – | 359,716 |
| Michael C. Bucella Director | Jun 30, 2026 | Award | +1,013 | – | – | 338,821 |
| Paul B. Prager Chief Executive Officer, Director | Jun 29, 2026 | Sale(10b5-1 plan) | −137,500 | $26.60 | $3.66M | 3,945,052 |
| William Joseph Tanimoto Chief Accounting Officer | Jun 24, 2026 | Option exercise | +10,000 | – | – | 48,898 |
| Steven T. Pincus Director | Jun 23, 2026 | Option exercise | +63,026 | – | – | 399,391 |
| Lisa A. Prager Director | Jun 23, 2026 | Option exercise | +56,023 | – | – | 310,497 |
| Michael C. Bucella Director | Jun 23, 2026 | Option exercise | +56,023 | – | – | 337,808 |
| Walter E. Carter Director | Jun 23, 2026 | Option exercise | +56,023 | – | – | 358,450 |
| Amanda Fabiano Director | Jun 23, 2026 | Option exercise | +56,023 | – | – | 96,792 |
| Catherine J. Motz Director | Jun 23, 2026 | Option exercise | +56,023 | – | – | 209,241 |
| Paul B. Prager Chief Executive Officer, Director | May 27, 2026 | Sale(10b5-1 plan) | −109,849 | $25.58 | $2.81M | 4,139,353 |
| Paul B. Prager Chief Executive Officer, Director | May 27, 2026 | Sale(10b5-1 plan) | −56,801 | $26.57 | $1.51M | 4,082,552 |
| Paul B. Prager Chief Executive Officer, Director | May 26, 2026 | Sale(10b5-1 plan) | −166,650 | $24.43 | $4.07M | 4,249,202 |
| Nazar M. Khan Chief Technology Officer, Director | May 18, 2026 | Returned to company | −452,151 | – | – | 1,469,592 |
| Nazar M. Khan Chief Technology Officer, Director | May 18, 2026 | Option exercise | +817,634 | – | – | 1,921,743 |
| Paul B. Prager Chief Executive Officer, Director | May 18, 2026 | Returned to company | −542,582 | – | – | 1,761,479 |
| Paul B. Prager Chief Executive Officer, Director | May 18, 2026 | Option exercise | +981,161 | – | – | 2,304,061 |
| Kerri M. Langlais Chief Strategy Officer, Director | May 18, 2026 | Option exercise | +327,054 | – | – | 4,337,741 |
| Kerri M. Langlais Chief Strategy Officer, Director | May 18, 2026 | Returned to company | −180,860 | – | – | 4,156,881 |
| Patrick Fleury Chief Financial Officer | May 18, 2026 | Option exercise | +327,054 | – | – | 4,134,214 |
| Patrick Fleury Chief Financial Officer | May 18, 2026 | Returned to company | −128,695 | – | – | 4,005,519 |
| Kerri M. Langlais Chief Strategy Officer, Director | May 6, 2026 | Returned to company | −180,860 | – | – | 4,010,687 |
| Kerri M. Langlais Chief Strategy Officer, Director | May 6, 2026 | Option exercise | +327,054 | – | – | 4,191,547 |
| Patrick Fleury Chief Financial Officer | May 6, 2026 | Returned to company | −128,695 | – | – | 3,807,160 |
| Patrick Fleury Chief Financial Officer | May 6, 2026 | Option exercise | +327,054 | – | – | 3,935,855 |
| Paul B. Prager Chief Executive Officer, Director | May 6, 2026 | Returned to company | −542,582 | – | – | 1,322,900 |
| Paul B. Prager Chief Executive Officer, Director | May 6, 2026 | Option exercise | +981,162 | – | – | 1,865,482 |
| Nazar M. Khan Chief Technology Officer, Director | May 6, 2026 | Returned to company | −452,152 | – | – | 1,104,109 |
| Nazar M. Khan Chief Technology Officer, Director | May 6, 2026 | Option exercise | +817,635 | – | – | 1,556,261 |
| Paul B. Prager Chief Executive Officer, Director | Apr 28, 2026 | Sale | −79,100 | $20.62 | $1.63M | 884,420 |
| Paul B. Prager Chief Executive Officer, Director | Apr 28, 2026 | Sale | −100 | $21.29 | $2.13K | 884,320 |
| Paul B. Prager Chief Executive Officer, Director | Apr 27, 2026 | Sale | −80,591 | $20.51 | $1.65M | 1,020,429 |
| Paul B. Prager Chief Executive Officer, Director | Apr 27, 2026 | Sale | −56,909 | $21.20 | $1.21M | 963,520 |
| Kerri M. Langlais Chief Strategy Officer, Director | Apr 24, 2026 | Option exercise | +327,054 | – | – | 4,045,353 |
| Kerri M. Langlais Chief Strategy Officer, Director | Apr 24, 2026 | Returned to company | −180,860 | – | – | 3,864,493 |
| Nazar M. Khan Chief Technology Officer, Director | Apr 24, 2026 | Option exercise | +817,635 | – | – | 1,190,778 |
| Nazar M. Khan Chief Technology Officer, Director | Apr 24, 2026 | Sale | −452,152 | – | – | 738,626 |
| Patrick Fleury Chief Financial Officer | Apr 24, 2026 | Option exercise | +327,054 | – | – | 3,737,496 |
| Patrick Fleury Chief Financial Officer | Apr 24, 2026 | Returned to company | −128,695 | – | – | 3,608,801 |
| Paul B. Prager Chief Executive Officer, Director | Apr 24, 2026 | Returned to company | −542,582 | – | – | 1,101,020 |
| Paul B. Prager Chief Executive Officer, Director | Apr 24, 2026 | Option exercise | +981,162 | – | – | 1,643,602 |
| Paul B. Prager Chief Executive Officer, Director | Apr 14, 2026 | Option exercise | +981,162 | – | – | 1,197,862 |
| Paul B. Prager Chief Executive Officer, Director | Apr 14, 2026 | Returned to company | −535,422 | – | – | 662,440 |
| Patrick Fleury Chief Financial Officer | Apr 14, 2026 | Option exercise | +327,054 | – | – | 3,532,054 |
| Patrick Fleury Chief Financial Officer | Apr 14, 2026 | Returned to company | −121,612 | – | – | 3,410,442 |
| Kerri M. Langlais Chief Strategy Officer, Director | Apr 14, 2026 | Option exercise | +327,054 | – | – | 3,899,159 |
| Kerri M. Langlais Chief Strategy Officer, Director | Apr 14, 2026 | Returned to company | −180,860 | – | – | 3,718,299 |
| Nazar M. Khan Chief Technology Officer, Director | Apr 14, 2026 | Option exercise | +817,635 | – | – | 818,135 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Paul B. Prager Officer, Director | Sep 22, 2026 | 3,000,000 | $52.35M | Sep 22, 2026 | Consideration provided as prepaid rent for lease in Lansing, 8/12/25 |
| Catherine J. Motz Director | Sep 8, 2026 | 56,023 | $996.09K | Sep 8, 2026 | Stock Award |
| Carter, Walter E. Director | Sep 1, 2026 | 130,626 | $1.98M | Aug 31, 2026 | Non-Employee Director Compensation |
| E&D Holdings Inc. Beowulf Director, Officer | Jun 29, 2026 | 275,000 | $7.10M | Jun 29, 2026 | Merger or Acquisition |
| E&d Holdings Inc. Beowulf Director, Officer | May 26, 2026 | 333,300 | $7.61M | May 26, 2026 | Merger or Acquisition |
| Prager Paul Director, Officer | Apr 28, 2026 | 79,200 | $1.70M | Apr 28, 2026 | Restricted Stock Units |
| Prager Paul Director, Officer, 10% Stockholder | Mar 24, 2026 | 491,700 | $7.96M | Mar 24, 2026 | Restricted Stock Units |
| Fleury Patrick Affiliate | Mar 17, 2026 | 600,000 | $9.85M | Mar 17, 2026 | Exchange Offer/Merger |
| Lake Harriet Holdings, LLC Affiliate | Sep 19, 2025 | 350,000 | $3.91M | Sep 19, 2025 | Stock Award |
| Catherine J. Motz Director | Sep 19, 2025 | 52,942 | $600.89K | Sep 19, 2025 | Stock Award |
| Catherine J. Motz Director | Jun 18, 2025 | 21,182 | $82.40K | Jun 18, 2025 | Stock Award |