Trybe Capital Loads Up D-Wave Quantum With 1.9 Million Shares Bought
Key Points
Bought 1,936,922 shares of D-Wave Quantum; estimated trade size $50.65 million (quarterly average pricing).
Quarter-end position value increased by $50.65 million, reflecting the new share purchase.
Position represents 7.25% of 13F reportable assets under management.
Post-trade stake: 1,936,922 shares valued at $50.65 million.
Position places D-Wave Quantum outside Trybe Capital’s top five holdings by value.
On February 17, 2026, Trybe Capital Management LP disclosed a new position in the quantum computing stock D-Wave Quantum (NYSE:QBTS).
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Trybe Capital Management LP initiated a new position in D-Wave Quantum by purchasing 1,936,922 shares. The estimated value of this transaction, based on the quarter’s average pricing, is $50.65 million. The stake’s value at the end of the quarter was also $50.65 million, reflecting the new share purchase.
What else to know
- This new position comprises 7.25% of Trybe Capital’s 13F reportable assets under management as of December 31, 2025.
- Top five holdings after the filing:
- NASDAQ: NVDA: $145.60 million (26.2% of AUM)
- NASDAQ: LRCX: $81.87 million (11.7% of AUM)
- NASDAQ: GOOGL: $78.07 million (11.2% of AUM)
- NYSE: TSM: $61.47 million (8.8% of AUM)
- NASDAQ: AMZN: $51.39 million (7.4% of AUM)
- As of February 13, 2026, D-Wave Quantum shares were priced at $19.67, up 202.6% over the past year, outperforming the S&P 500 by 190.82 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/13/26) | $19.67 |
| Market Capitalization | $6.89 billion |
| Revenue (TTM) | $24.14 million |
| Net Income (TTM) | ($398.81 million) |
Company snapshot
- Offers quantum computing systems (Advantage), cloud-based quantum access (Leap), open-source programming tools (Ocean), and professional onboarding services (Launch and D-Wave Launch).
- Offers quantum computing hardware, cloud-based quantum computing access, software solutions, and enterprise professional services.
- Serves enterprise clients in manufacturing, logistics, financial services, life sciences, and sectors seeking advanced computational solutions.
D-Wave Quantum is a leading provider of quantum computing systems and cloud-based quantum solutions, with a focus on enterprise adoption across multiple industries. The company leverages proprietary quantum hardware and software to address complex computational problems, positioning itself at the forefront of commercial quantum technology. D-Wave Quantum's integrated platform and specialized services provide a competitive edge in delivering scalable quantum applications for real-world business challenges.
What this transaction means for investors
Trybe Capital bought into D-Wave Quantum stock in a quarter where it experienced extreme volatility. In October of last year, it reached its 52-week high of $46.75 per share. However, it lost more than half of its value within a few weeks and ended the quarter at $26.15 per share.
As previously stated, the stock sells at a significantly lower price now, a factor that speaks to the volatility of these quantum computing stocks. While their exponentially faster speeds could transform the tech industry, it remains unclear whether its commercially-focused products can succeed in the current marketplace.
Investors should also note that Trybe also opened a position in quantum computing peer IonQ, which now represents 3.4% of its AUM. Although this is smaller than its investment in D-Wave Quantum, that move indicates a strong belief in the this industry.
Ultimately, such holdings make Trybe’s fund more risky but could also lead to outsized returns should these stocks move higher over time.
Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, IonQ, Lam Research, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.