D-Wave Quantum Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:RQ0 Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
18 Nov 25	Buy€1,551	Steven West	Individual	82	€18.91
13 Nov 25	Sell€1,952,062	John Markovich	Individual	98,060	€19.91
13 Nov 25	Sell€3,346,375	Alan Baratz	Individual	168,102	€19.91
13 Nov 25	Sell€55,799	Diane Nguyen	Individual	2,803	€19.91
14 Oct 25	Sell€1,183,923	Alan Baratz	Individual	31,369	€37.74
14 Oct 25	Sell€301,708	John Markovich	Individual	7,994	€37.74
14 Oct 25	Sell€786,049	Diane Nguyen	Individual	20,827	€37.74
11 Sep 25	Sell€1,387,945	John Markovich	Individual	100,000	€13.88
13 Aug 25	Sell€469,544	Diane Nguyen	Individual	30,260	€15.83
13 Aug 25	Sell€2,222,382	Steven West	Individual	144,000	€15.52
16 Jun 25	Sell€779,028	John DiLullo	Individual	57,000	€14.16
16 Jun 25	Sell€1,000,424	Kirstjen Nielsen	Individual	71,644	€13.99
12 Jun 25	Sell€631,846	Rohit Ghai	Individual	43,517	€14.52
12 Jun 25	Sell€1,552,028	Roger Biscay	Individual	106,626	€14.56
22 May 25	Sell€1,758,160	Roger Biscay	Individual	112,196	€15.83
14 Jan 25	Sell€86,992,326	Public Sector Pension Investment Board	Company	19,557,252	€5.97
14 Jan 25	Sell€568,576	Public Sector Pension Investment Board	Company	115,306	€4.93
20 Dec 24	Sell€6,411,072	Public Sector Pension Investment Board	Company	1,000,000	€6.41
12 Dec 24	Sell€70,930,949	Public Sector Pension Investment Board	Company	17,501,884	€4.64
11 Dec 24	Sell€4,168,948	Public Sector Pension Investment Board	Company	872,175	€4.78

Insider Trading Volume

Insider Buying: RQ0 insiders have sold more shares than they have bought in the past 3 months.

Ownership Breakdown

What is the ownership structure of RQ0?
Owner Type	Number of Shares	Ownership Percentage
Private Companies	3,121,346	0.892%
Individual Insiders	4,543,301	1.3%
General Public	151,116,328	43.2%
Institutions	191,340,828	54.6%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 56.3%.

Top Shareholders

Top 25 shareholders own 46.08% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
11%	The Vanguard Group, Inc.	38,454,869	€947.7m	41.2%	0.01%
7.48%	BlackRock, Inc.	26,201,142	€645.7m	12.8%	0.01%
3.9%	D. E. Shaw & Co., L.P.	13,648,352	€336.4m	7.46%	0.3%
3.63%	UBS Asset Management AG	12,724,195	€313.6m	339%	0.02%
2.15%	Geode Capital Management, LLC	7,528,321	€185.5m	17.4%	0.01%
2.09%	State Street Global Advisors, Inc.	7,321,276	€180.4m	10.1%	0.01%
1.74%	Morgan Stanley	6,102,275	€150.4m	44.9%	0.01%
1.54%	Public Sector Pension Investment Board	5,400,000	€133.1m	0%	0.44%
1.48%	Bank of America Corporation	5,187,023	€127.8m	-64.5%	0.03%
1.45%	Defiance ETFs, LLC	5,068,199	€124.9m	0%	10.03%
1.31%	T. Rowe Price Group, Inc.	4,580,769	€112.9m	448%	0.01%
0.89%	UNICOM Systems, Inc.	3,121,346	€76.9m	12.1%	7.91%
0.87%	Clear Street LLC	3,049,148	€75.1m	504%	0.4%
0.83%	Charles Schwab Investment Management, Inc.	2,904,711	€71.6m	239%	0.01%
0.8%	Northern Trust Global Investments	2,792,035	€68.8m	17.1%	0.01%
0.75%	Marex Group plc	2,626,156	€64.7m	-52%	0.95%
0.7%	Driehaus Capital Management LLC	2,443,818	€60.2m	102%	0.28%
0.64%	Renaissance Technologies LLC	2,253,542	€55.5m	-40.6%	0.08%
0.54%	Alan Baratz	1,898,076	€46.8m	16%	no data
0.48%	Penserra Capital Management LLC	1,677,356	€41.3m	43.4%	0.44%
0.39%	Hudson River Trading LLC	1,354,621	€33.4m	386%	0.15%
0.37%	FMR LLC	1,306,628	€32.2m	1,010%	no data
0.36%	Tudor Investment Corporation	1,247,528	€30.7m	50.8%	0.21%
0.35%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	1,236,166	€30.5m	-8.8%	0.01%
0.35%	JP Morgan Asset Management	1,215,939	€30.0m	-9.43%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/12/05 19:57
End of Day Share Price	2025/12/04 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

D-Wave Quantum Inc. is covered by 14 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
David Williams	Benchmark Company
Craig Ellis	B. Riley Securities, Inc.
William Kingsley Crane	Canaccord Genuity