SCHEDULE: Vanguard Discloses 5.75% Stake in D-Wave Quantum

Vanguard Portfolio Management has reported beneficial ownership of 5.75% of D-Wave Quantum Inc.'s common stock as of March 31, 2026.

Summary

• Vanguard Portfolio Management, along with its affiliates Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC, has disclosed beneficial ownership of 21,116,747 shares of D-Wave Quantum Inc. common stock.
• This holding represents 5.75% of the total class of securities.
• The filing indicates that Vanguard Portfolio Management has sole dispositive power over these shares and shared voting power is zero.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive development due to the significant investment from a reputable institutional investor like Vanguard, signaling confidence in D-Wave Quantum's technology and market potential.

Positives

• Vanguard, a major institutional investor, has taken a significant stake in D-Wave Quantum, indicating confidence in the company's potential.
• The disclosure of a 5.75% ownership stake by a large asset manager can be seen as a positive signal to the market regarding the company's stability and prospects.

Negatives

• The filing does not contain any negative financial results or operational challenges.
• The ownership is reported as being held in the ordinary course of business, not for the purpose of influencing control, which might suggest a passive investment rather than active engagement.

Risks

• The filing does not explicitly mention any risks associated with D-Wave Quantum Inc. itself.
• As a Schedule 13G filing, it primarily reports ownership and does not delve into company-specific operational or market risks.

Future Outlook

This filing is a Schedule 13G, which reports current ownership and does not contain forward-looking statements or guidance from D-Wave Quantum Inc. regarding its future business prospects.

Management Comments

• "In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC."
• "This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power."
• "This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that the acquisition of a significant stake by a major institutional investor like Vanguard in a quantum computing company like D-Wave Quantum Inc. highlights the growing institutional interest and potential validation of the quantum computing sector, despite its early-stage development.

Stakeholder Impact

• Shareholders: May view Vanguard's investment as a positive endorsement, potentially increasing confidence and interest in the stock.
• Employees: The investment could signal stability and future growth, potentially boosting morale.
• Creditors/Suppliers: A larger institutional investor may indirectly enhance the company's perceived financial stability.

Next Steps

• Vanguard will continue to hold the reported shares in the ordinary course of business.
• D-Wave Quantum Inc. will continue its operations and strategic initiatives as outlined in its other public disclosures.

Key Dates

Recommendation

This filing indicates a significant institutional investment by Vanguard, which is a positive signal. However, as a Schedule 13G, it does not provide operational or financial performance details of D-Wave Quantum. Therefore, while positive, it warrants a 'hold' recommendation pending further analysis of the company's core business performance and strategic execution.

Keywords

D-Wave Quantum, Vanguard, Schedule 13G, Beneficial Ownership, Institutional Investor, Quantum Computing, Stock Filing, SEC Filing, Common Stock