SCHEDULE: Vanguard Group Divests D-Wave Quantum Stake

The Vanguard Group reported a 0% beneficial ownership in D-Wave Quantum Inc. following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 2 to Schedule 13G for D-Wave Quantum Inc. Common Stock.
• The filing indicates that The Vanguard Group now holds 0 shares, representing 0% beneficial ownership of D-Wave Quantum Inc. Common Stock.
• This change is attributed to an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these disaggregated subsidiaries and/or business divisions.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as slightly negative for D-Wave Quantum Inc. due to the optics of a major institutional investor reporting zero beneficial ownership, despite the stated reason being an internal reporting realignment by Vanguard.

Negatives

• The Vanguard Group, a significant institutional investor, now reports 0% beneficial ownership in D-Wave Quantum Inc., holding 0 shares and 0% of the class, which could be perceived negatively by the market.

Future Outlook

No forward-looking statements or guidance regarding D-Wave Quantum Inc.'s performance or The Vanguard Group's future investment intentions are provided in this filing.

Management Comments

• On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment.
• Certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc. will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on SEC Release No. 34-39538.
• These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

Industry Context

StockSavvy.ai notes that Schedule 13G filings primarily reflect changes in institutional ownership reporting, rather than a direct commentary on the issuer's industry position or operational performance. The disaggregation of Vanguard's reporting could lead to a more granular view of institutional holdings in D-Wave Quantum Inc. by its various funds, potentially offering more transparency into specific investment strategies within the broader Vanguard umbrella.

Stakeholder Impact

• Shareholders: May interpret the 0% reported ownership by The Vanguard Group as a negative signal, potentially impacting investor sentiment.
• D-Wave Quantum Inc.: Could face questions regarding institutional investor confidence, although the filing attributes the change to Vanguard's internal restructuring.

Key Dates

Recommendation

The filing primarily reflects an internal reporting realignment by The Vanguard Group, resulting in their reported beneficial ownership of D-Wave Quantum Inc. dropping to 0%. While the optics of a major institutional investor reporting no stake can be concerning, the underlying investment strategies of Vanguard's subsidiaries remain unchanged. This administrative change does not provide new fundamental information about D-Wave's operational performance or future prospects to warrant a strong buy or sell recommendation based solely on this filing. Investors should monitor subsequent filings from Vanguard's disaggregated entities for a clearer picture of their collective holdings.

Keywords

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