D-Wave Quantum Inc.

QBTSRank #235 of 316

Reference Jun 30, 2026 close implied by Form 13F filings

Circulating market cap

$8.86B

Upper bound: lock-ups and restricted stock not reviewed yet.

Traditional market cap: $8.86B
Fully diluted value: n/a
Free float market cap: -
Gap to traditional: 0

Circulating supply369.26M / 369.26M

Free float
Locked team
Other restricted

Circulating: 369.26M · 100.0%
Free float: -
Locked team: n/r
Other restricted: n/r
Total outstanding: 369,263,837

Lock-ups and restricted stock for this company have not been reviewed yet. Only unlisted share classes are excluded, so circulating supply is an upper bound.

Supply breakdown

Shares as of Aug 5, 2026

Circulating100.0%369.26M shares

Category	Shares	%	Value	Status
Circulating	369.26M	100.0%	$8.86B	Estimated
Free float	-	-	-	Unavailable
Insider-held, unrestricted	-	-	-	Unavailable
Locked team funds	-	-	-	Unavailable
Other restricted (unlisted classes only)	-	-	-	Unavailable
Total outstanding	369.26M	100.0%	$8.86B	Verified
Ownership views (overlap the categories above, never added)
Institutional holdings (13F)	197.42M	53.5%	$4.74B	Estimated
Insider-held, all (Forms 3, 4, 5)	-	-	-	Unavailable

Institutional and insider holdings can include both tradable and locked shares, so they are shown for reference and never added to the total. Check: no class has more shares deducted than it has outstanding, and the review found no shares that may be counted twice: reconciles.

Valuation

Traditional$8.86B
Fully diluted-
Circulating$8.86B
Free float-
Locked team value$0
Other restricted value$0

Locked and restricted shares

Not reviewed yet.

Institutional holders

13F, quarter ended Jun 30, 2026

Holder	Shares	% of total
BlackRock, Inc.	33.15M	8.98%
VANGUARD PORTFOLIO MANAGEMENT LLC	22.02M	5.96%
VANGUARD CAPITAL MANAGEMENT LLC	15.94M	4.32%
UBS Group AG	11.65M	3.15%
GEODE CAPITAL MANAGEMENT, LLC	9.27M	2.51%
STATE STREET CORP	9.03M	2.45%
Clear Street Group Inc.	6.21M	1.68%
NORGES BANK	4.48M	1.21%
BANK OF AMERICA CORP /DE/	4.34M	1.18%
NORTHERN TRUST CORP	3.37M	0.91%

Sum of long share positions in Form 13F reports for the quarter. 13F covers managers with over $100M in US equities; some positions are reported by more than one filer.

Insiders

Forms 3, 4 and 5

Form 4 aggregation pending

Share classes

Class	Listing	Shares outstanding	As of
Common stock	QBTS on Nasdaq	369,263,837	Aug 5, 2026

Notes and sources

D-Wave Quantum Inc. 10-Q for period ended 2026-06-30, Cover page (0001907982-26-000129)
SEC public float (non-affiliates): $4.93B as of Jun 30, 2025, from the 10-K cover. It is a dollar value at a past date, not circulating supply.