Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

D-Wave Quantum Inc (QBTS)

547 + Investors. Track Smart Money conviction in QBTS. See who's accumulating, reducing, or initiating positions.

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +72
Streak
1Q ▲
Buyers last Q
68%

Smart Money Signals — QBTS

Based on 569 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added QBTS than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
569 hedge funds hold QBTS right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +62% more funds vs a year ago

fund count last 6Q
+218 new funds entered over the past year (+62% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 68% buying

389 buying187 selling
Last quarter: 389 funds were net buyers (142 opened a brand new position + 247 added to an existing one). Only 187 were sellers (117 trimmed + 70 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+53 vs last Q)

new funds entering per quarter
Funds opening a new QBTS position: 140 → 142 → 89 → 142. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄

Mostly new holders — 41% entered in last year

■ 12% conviction (2yr+) ■ 47% medium ■ 41% new
Only 69 funds (12%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰

Value +104% but shares only +19% — price-driven

Value
+103%
Shares
+18%
Last quarter: the total dollar value of institutional holdings rose +104%, but actual share count only changed +19%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📊

Peak discovery — momentum slowing

118 → 140 → 142 → 89 → 142 new funds/Q
New funds entering each quarter: 140 → 142 → 89 → 142. QBTS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱

Early stage — 58% of holders entered in last year

■ 11% veterans ■ 30% 1-2yr ■ 58% new
Of 606 current holders: 354 (58%) entered in the past year, only 68 (11%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆

Elite ownership — 51% AUM from top-100 funds

51% from top-100 AUM funds
56 of 554 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in QBTS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — QBTS

In 2026 Q2, 389 hedge funds were net buyers of QBTS (142 opened a new position, 247 added to an existing one), while 187 reduced or exited (117 trimmed, 70 sold completely) — a 68% buyer ratio, indicating clear institutional accumulation. 51% of total institutional value in QBTS is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +72 funds (more new holders than closures). Total institutional holders: 569.

Hedge Fund Ownership: QBTS

How many hedge funds hold QBTS — quarterly history vs. share price
Quarterly hedge fund ownership of QBTS vs. share price

Market Analysis: QBTS

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: QBTS

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy D-Wave Quantum Inc (QBTS) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much QBTS has moved relative to its sector benchmark (XLK) since the 2026 Q3 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End September 30, 2026 · 45d ago
QBTS
-43.6%
XLK
-13.2%

QBTS outperformed XLK by -30.4% since September 30, 2026.

Since 13F Filing Date November 14, 2026 · 0d ago
QBTS
+0.0%
XLK
+0.0%

Since the filing became public, QBTS outperformed XLK by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

23 top-rated funds 3 high-conviction
Consensus
6.0
/ 10
breadth
×
Elite
2.5
/ 10
conviction
Hedge Fund Positioning: QBTS
2026 Q3 Stats Unlock in 5 days 547 + Investors

Track Smart Money conviction in QBTS. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 547 497 10.06%
13F Shares 226M 199M 13.56%
Total Value $5.32B $2.81B 89.07%
New Positions 138 89 +49
Increased Positions 241 170 +71
Closed Positions 73 101 -28
Reduced Positions 103 152 -49
Total Calls 27 23 17.39%
Total Puts 25 20 25.0%
PUT/CALL Ratio 0.93 0.87 Neutral

Statistics: QBTS

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
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Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
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Institutional Holders (2026 Q3)

547 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in QBTS. Verified SEC 13F-HR filings.

QUARTER:
2026 Q3 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 QBTS holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Burr Financial Services, LLC 3.88% 382,788 $6.3M
2 UNICOM Systems, Inc. 3.53% 3,121,346 $51.7M
3 SLT Holdings LLC 1.74% 179,971 $3.0M
4 Breakthru Advisory Services, LLC 0.95% 16,943 $281K
5 Generali Investments Towarzystwo Funduszy Inwestycyjnych 0.76% 125,000 $2.1M
6 McGuire Investment Group, LLC 0.61% 411,189 $6.8M
7 Encore Global Management, LP 0.55% 30,000 $497K
8 Emerald Advisers, LLC 0.52% 1,152,853 $19.1M
9 Strategic Advocates LLC 0.51% 7,917 $131K
10 Emerald Mutual Fund Advisers Trust 0.50% 744,084 $12.3M
11 Bouvel Investment Partners, LLC 0.47% 124,152 $2.1M
12 Amplify Investments, LLC 0.43% 8,771 $144K
13 Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. 0.40% 9,322 $154K
14 AlphaCentric Advisors LLC 0.37% 25,000 $414K
15 Veracity Capital LLC 0.36% 80,181 $1.3M
16 BayBridge Capital Group, LLC 0.34% 38,474 $638K
17 Latash Investments, LLC 0.32% 26,211 $434K
18 Corecam Pte. Ltd. 0.30% 44,519 $722K
19 Brown Miller Wealth Management, LLC 0.29% 72,421 $1.2M
20 Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD 0.29% 131,672 $2.2M
21 bLong Financial, LLC 0.28% 28,454 $471K
22 Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD 0.27% 382,528 $6.3M
23 Rakuten Securities, Inc. 0.26% 56,653 $939K
24 Wealth Management Partners, LLC 0.20% 52,178 $865K
25 Carroll Investors, Inc 0.19% 30,485 $505K
Investor Ownership
History
% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

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Frequently Asked Questions — D-Wave Quantum Inc (QBTS)

What does the Smart Money Trend signal show for QBTS?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added QBTS than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for QBTS?

More buyers than sellers — 68% buying: Last quarter: 389 funds were net buyers (142 opened a brand new position + 247 added to an existing one). Only 187 were sellers (117 trimmed + 70 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for QBTS holders?

Elite ownership — 51% AUM from top-100 funds: 56 of 554 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in QBTS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held QBTS?

Mostly new holders — 41% entered in last year: Only 69 funds (12%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Is it too late to buy D-Wave Quantum Inc (QBTS) following the 2026 Q3 hedge fund 13F filings?

As of today, QBTS has moved +0.0% since the 2026 Q3 13F filing date (November 14, 2026), compared to +0.0% for the XLK sector ETF — an outperformance of +0.0%. Since the quarter end (September 30, 2026), QBTS has gained -43.6% vs -13.2% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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