D-Wave Quantum Inc
QBTS
511 hedge funds and large institutions have $4.43B invested in D-Wave Quantum Inc in 2025 Q4 according to their latest regulatory filings, with 134 funds opening new positions, 183 increasing their positions, 146 reducing their positions, and 75 closing their positions.
133% more funds holding in top 10
Funds holding in top 10: 3 → 7 (+4)
79% more first-time investments, than exits
New positions opened: 134 | Existing positions closed: 75
25% more repeat investments, than reductions
Existing positions increased: 183 | Existing positions reduced: 146
11% more funds holding
Funds holding: 459 → 511 (+52)
4% more call options, than puts
Call options by funds: $681M | Put options by funds: $653M
2% less capital invested
Capital invested by funds: $4.52B → $4.43B (-$88.8M)
5.12% less ownership
Funds ownership: 53.95% → 48.83% (-5.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$78.2M |
| 2 |
BlackRock
New York
|
+$58.2M |
| 3 |
MG
Marex Group
London,
|
+$57.3M |
| 4 |
TCM
Trybe Capital Management
Greenwich,
Connecticut
|
+$56.4M |
| 5 |
SG Americas Securities
New York
|
+$48.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
-$395M |
| 2 |
Morgan Stanley
New York
|
-$110M |
| 3 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$88.5M |
| 4 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$60.4M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$55M |
QBTS Hedge Fund Activity: Q4 2025 in Review
511 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in D-Wave Quantum Inc (QBTS) for Q4 2025, worth a combined $4.43B — down 2% from $4.52B a quarter earlier.
Buyers outnumbered sellers: 134 funds opened new QBTS positions and 75 closed out — a net gain of 59 holders — while 183 added to existing stakes and 146 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $78.2M. The largest seller was D.E. Shaw & Co, cutting an estimated $395M.
- 511 institutional investors held D-Wave Quantum Inc (QBTS) as of Q4 2025, up from 459 in Q3 2025.
- Funds reported $4.43B of D-Wave Quantum Inc stock for Q4 2025, down 2% quarter-over-quarter.
- 134 funds opened new D-Wave Quantum Inc positions in Q4 2025 and 75 closed out, a net change of +59 holders.
- The largest D-Wave Quantum Inc buyer in Q4 2025 was Goldman Sachs, an estimated $78.2M added.
- The largest D-Wave Quantum Inc seller in Q4 2025 was D.E. Shaw & Co, an estimated $395M sold.
Based on aggregated 13F filings for Q4 2025.