D-Wave Quantum
QBTS
458 hedge funds and large institutions have $4.52B invested in D-Wave Quantum in 2025 Q3 according to their latest regulatory filings, with 137 funds opening new positions, 183 increasing their positions, 91 reducing their positions, and 30 closing their positions.
357% more first-time investments, than exits
New positions opened: 137 | Existing positions closed: 30
200% more funds holding in top 10
Funds holding in top 10: 1 → 3 (+2)
101% more repeat investments, than reductions
Existing positions increased: 183 | Existing positions reduced: 91
96% more capital invested
Capital invested by funds: $2.3B → $4.52B (+$2.22B)
29% more funds holding
Funds holding: 356 → 458 (+102)
22% more call options, than puts
Call options by funds: $615M | Put options by funds: $506M
2.7% more ownership
Funds ownership: 51.25% → 53.95% (+2.7%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
+$204M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$186M |
| 3 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$68.2M |
| 4 |
BlackRock
New York
|
+$54.2M |
| 5 |
CS
Clear Street
New York
|
+$46.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$170M |
| 2 |
MG
Marex Group
London,
|
-$51.8M |
| 3 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$45.4M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$38.7M |
| 5 |
Renaissance Technologies
New York
|
-$28M |
QBTS Hedge Fund Activity: Q3 2025 in Review
458 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in D-Wave Quantum (QBTS) for Q3 2025, worth a combined $4.52B — up 96% from $2.3B a quarter earlier.
Buyers outnumbered sellers: 137 funds opened new QBTS positions and 30 closed out — a net gain of 107 holders — while 183 added to existing stakes and 91 trimmed.
The largest buyer was Vanguard Group, adding an estimated $204M. The largest seller was Bank of America, cutting an estimated $170M.
- 458 institutional investors held D-Wave Quantum (QBTS) as of Q3 2025, up from 356 in Q2 2025.
- Funds reported $4.52B of D-Wave Quantum stock for Q3 2025, up 96% quarter-over-quarter.
- 137 funds opened new D-Wave Quantum positions in Q3 2025 and 30 closed out, a net change of +107 holders.
- The largest D-Wave Quantum buyer in Q3 2025 was Vanguard Group, an estimated $204M added.
- The largest D-Wave Quantum seller in Q3 2025 was Bank of America, an estimated $170M sold.
Based on aggregated 13F filings for Q3 2025.