One gathers Flynn Zito Capital Management has been…tidying up its portfolio. A discreet shedding of 100,000 shares in D-Wave Quantum, to be precise. The filing surfaced on February 5th, and frankly, one isn’t terribly surprised. These quantum gambles are all very well, but a chap must occasionally realize a profit, mustn’t he?
A Spot of Pruning
The reduction in their stake, executed during the fourth quarter of 2025, amounted to approximately $2.91 million. A rather substantial sum, of course, though one suspects it barely makes a dent in their overall holdings. The fund’s position, diminished by a further $2.41 million – a combination of trading and the usual market vagaries – now represents a mere 0.37% of their 13F AUM. One pictures the portfolio managers having a good, brisk clear-out. Perfectly sensible.
The Lay of the Land
- As of the filing, their top holdings remain reassuringly conventional: HFXI ($20,609,453), PRF ($20,383,474), AAPL ($20,002,736), IWF ($18,790,446), and FLQM ($17,814,776). One appreciates a firm with a backbone.
- D-Wave Quantum, as of February 5th, was trading at $17.21 – a frankly astonishing 174.9% climb over the past year. A bit…frothy, wouldn’t you say? The one-year alpha of 162.76 percentage points versus the S&P 500 is, shall we say, unsustainable.
A Brief Profile
| Metric | Value |
|---|---|
| Price (February 5, 2026) | $17.21 |
| Market Capitalization | $6.31 billion |
| Revenue (TTM) | $24,144,000 |
| Net Income (TTM) | ($398,813,000) |
D-Wave, for those unfamiliar, dabbles in quantum computing – systems, cloud access, the usual technological wizardry. They target manufacturing, logistics, finance… anyone with a problem complex enough to justify the expense. A perfectly respectable endeavor, if one has the patience – and the funds.
What Does it All Mean?
Flynn Zito, one suspects, has executed a rather clever maneuver. They acquired 140,000 shares in the first quarter of 2025, and the stock, predictably, rather took off. Selling 100,000 shares at a healthy profit – likely somewhere between 250% and 615% – is hardly a cause for lamentation. The fact that they retain 40,000 shares suggests a continued, if cautious, optimism. A sensible balance, wouldn’t you agree?
D-Wave is, naturally, touting itself as the “practical quantum computing company.” They’ve forged relationships with various firms, attempting to apply their technology to real-world challenges. A laudable ambition. However, the persistent, and rather alarming, losses – and a price-to-sales ratio hovering above 200 – give one pause. It’s all terribly exciting, of course, but one must maintain a modicum of realism.
Quantum computing will undoubtedly play a significant role in the future. But Flynn Zito’s discreet exit serves as a rather pointed reminder: even the most promising technologies are subject to the whims of the market. And a little profit-taking never hurt anyone.
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2026-02-10 03:52