The Quantum Portfolio, a thematic portfolio focused on the global quantum computing opportunity, experienced mixed performance over the past week. As of June 23, 2026, the portfolio holds four positions: D-Wave Quantum (QBTS), Rigetti Computing (RGTI), FormFactor (FORM), and IonQ (IONQ).
Performance Overview
- D-Wave Quantum (QBTS): -9.15% return since pick. The stock has pulled back from its initial level, likely due to profit-taking after a strong run. No fundamental thesis break observed.
- Rigetti Computing (RGTI): +2.90% return. Steady performance supported by ongoing advancements in superconducting qubit technology.
- FormFactor (FORM): +2.57% return. Benefiting from demand for quantum testing equipment and broader semiconductor trends.
- IonQ (IONQ): +2.30% return. Recently added, the stock is performing in line with expectations as trapped-ion quantum computing gains traction.
Theme and Positioning
The quantum computing theme remains compelling, with major tech companies and governments increasing investments. The portfolio is diversified across hardware (D-Wave, Rigetti, IonQ) and enabling technology (FormFactor). No concentration issues are present, as each position represents a similar weight.
Risk and Outlook
Key risks include commercialization timelines, competition from classical computing, and regulatory changes. However, the long-term opportunity set remains intact. No positions are recommended for closure at this time, as all are within their minimum holding period and the thematic thesis is unchanged.
What to Watch
- Earnings reports from IonQ and Rigetti in the coming weeks.
- Government funding announcements for quantum research.
- Technological milestones from any of the holdings.
Disclaimer: This is not investment advice. Past performance is not indicative of future results. All investments carry risk, including loss of principal. Consult a financial advisor before making investment decisions.