I got Qullim's Terminus from the raid and I have it maxed out. The cocoon perk says it's supposed to automatically reload when stored for a short time. The problem is that it only works sporadically and the description doesn't say "has a chance to reload".
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"The most deadly thing on a battlefield is one well aimed shot" - Carlos Hathcock[/i]
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You need to equip it, meaning pull it out, then stow it. It doesn't work unless you stow it.