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D-Wave Quantum Inc. Common Stock
QBTS

356 hedge funds and large institutions have $2.3B invested in D-Wave Quantum Inc. Common Stock in 2025 Q2 according to their latest regulatory filings, with 125 funds opening new positions, 142 increasing their positions, 60 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

279% more first-time investments, than exits

New positions opened: 125 | Existing positions closed: 33

223% more capital invested

Capital invested by funds: $712M → $2.3B (+$1.59B)

137% more repeat investments, than reductions

Existing positions increased: 142 | Existing positions reduced: 60

33% more call options, than puts

Call options by funds: $266M | Put options by funds: $199M

33% more funds holding

Funds holding: 268 → 356 (+88)

18.68% more ownership

Funds ownership: 32.57% → 51.25% (+19%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
356
Holders Change
+88
Holders Change %
+32.84%
% of All Funds
4.69%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
125
Increased
142
Reduced
60
Closed
33
Calls
$266M
Puts
$199M
Net Calls
+$66.1M
Net Calls Change
+$11.5M

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$188M
2
Bank of America
Bank of America
North Carolina
+$118M
3
BlackRock
BlackRock
New York
+$108M
4
MG
Marex Group
+$63.3M
5
Renaissance Technologies
Renaissance Technologies
New York
+$44.6M

Top Sellers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
-$47.2M
2
PCM
Penserra Capital Management
California
-$45.9M
3
Two Sigma Investments
Two Sigma Investments
New York
-$30.5M
4
US
UNICOM Systems
Nevada
-$21.7M
5
Voloridge Investment Management
Voloridge Investment Management
Florida
-$6.96M
Name Holding Trade Value Shares
Change 		Change in
Stake
SFS
376
Sowell Financial Services
Arkansas
– -$95.8K -12,599 Closed
JCM
377
Jacobi Capital Management
Pennsylvania
– -$92.2K -12,130 Closed
FAM
378
Flaharty Asset Management
Florida
– -$91.2K -12,000 Closed
BHB
379
Bank Hapoalim BM
Israel
– -$76K -10,000 Closed
IIA
380
IPG Investment Advisors
California
– -$76K -10,000 Closed
Twin Tree Management
381
Twin Tree Management
Texas
– -$59.5K -7,834 Closed
VWM
382
Vermillion Wealth Management
Minnesota
– -$17.5K -2,300 Closed
PBK
383
Peoples Bank (Kansas)
Kansas
– -$15.2K -2,000 Closed
SFGP
384
Stonebridge Financial Group (Pennsylvania)
Pennsylvania
– -$3.54K -466 Closed
AssetMark Inc
385
AssetMark Inc
California
– -$2.62K -345 Closed
CTWM
386
Cherry Tree Wealth Management
Minnesota
– -$862 -113 Closed
SC
387
Stephens Consulting
Michigan
– -$342 -45 Closed
BCMLT
388
Beacon Capital Management LLC (Tennessee)
Tennessee
– -$304 -40 Closed
C
389
Covestor
United Kingdom
– -$71 -6 -24%
CMP
390
Coston McIsaac & Partners
Maine
– +$282 +24 New
12 13 14 15
16

QBTS Hedge Fund Activity: Q2 2025 in Review

356 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in D-Wave Quantum Inc. Common Stock (QBTS) for Q2 2025, worth a combined $2.3B — up 223% from $712M a quarter earlier.

Buyers outnumbered sellers: 125 funds opened new QBTS positions and 33 closed out — a net gain of 92 holders — while 142 added to existing stakes and 60 trimmed.

The largest buyer was Vanguard Group, adding an estimated $188M. The largest seller was UBS Group, cutting an estimated $47.2M.

  • 356 institutional investors held D-Wave Quantum Inc. Common Stock (QBTS) as of Q2 2025, up from 268 in Q1 2025.
  • Funds reported $2.3B of D-Wave Quantum Inc. Common Stock stock for Q2 2025, up 223% quarter-over-quarter.
  • 125 funds opened new D-Wave Quantum Inc. Common Stock positions in Q2 2025 and 33 closed out, a net change of +92 holders.
  • The largest D-Wave Quantum Inc. Common Stock buyer in Q2 2025 was Vanguard Group, an estimated $188M added.
  • The largest D-Wave Quantum Inc. Common Stock seller in Q2 2025 was UBS Group, an estimated $47.2M sold.

Based on aggregated 13F filings for Q2 2025.