Portfolio Overview
The Quantum Portfolio, a thematic global portfolio focused on quantum computing, has faced a tough week with all open positions in negative territory. As of July 29, 2026, the portfolio’s holdings have declined between 9% and 43% from their entry prices. The theme of quantum computing remains a long-term growth opportunity, but near-term volatility has been exacerbated by delayed revenue expectations, rising interest rates, and a rotation out of high-growth tech.
Performance Drivers
Key drivers of the recent decline include:
- D-Wave Quantum (QBTS): Down 39.17% since pick. Continued losses and skepticism about near-term quantum annealing adoption.
- Rigetti Computing (RGTI): Down 36.07%. Mixed earnings and competition from larger players.
- FormFactor (FORM): Down 36.62%. Semiconductor test demand weakness.
- IonQ (IONQ): Down 43.43%. Trapped-ion technology facing scalability questions.
- Infineon Technologies (IFNNY): Down 24.10. Exposure to automotive and industrial slowdown.
- Quantum Machines (QUBT): Down 9.20%. Relatively resilient but still negative.
- Quantinuum (HON): No price data yet; newly added.
Risk Concentration
The portfolio is heavily concentrated in pure-play quantum computing names, which are highly speculative and sensitive to sentiment. The addition of Infineon and Quantinuum provides some diversification into more established players, but the overall risk remains elevated. No single position exceeds 20% of the portfolio, but the thematic correlation is high.
What to Watch Next
Key catalysts include upcoming earnings from IonQ and Rigetti, potential government funding announcements for quantum research, and any technological breakthroughs. The portfolio remains positioned for long-term growth, but investors should brace for continued volatility.
Risk Disclaimer
This article is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. All investments carry risk, including the potential loss of principal. Consult a financial advisor before making investment decisions.