[SCHEDULE 13D/A] Quantum Biopharma Ltd. Class B Subordinate Voting Shares SEC Filing

Rhea-AI Filing Summary

Schedule 13D/A (Amendment 3) – Quantum Biopharma Ltd. (QNTM)

Malone Wealth Ventures LLC ("MWV") and its President & CEO Kevin Malone report beneficial ownership of 610,371 common shares, representing 17.8 % of Quantum Biopharma’s outstanding stock. MWV has sole dispositive power over the entire stake and sole voting power over 52,265 shares.

The position was built through (i) open-market purchases using discretionary client funds and (ii) 90,000 shares granted to Kevin Malone for advisory services (30,000 initial grant plus 60,000 continuation grant).

On 23 June 2025, MWV executed 21 exchange transactions, mainly buys between $22.18–$29.19 and one sale of 5,000 shares at $22.549, indicating ongoing accumulation around a volatile price range.

The securities are held for investment purposes; however, Malone’s role as Advisor to the Board means the reporting persons "may be deemed" to seek influence over strategic direction, financing, capitalization and governance. MWV states it may buy or sell additional shares depending on market conditions.

No legal proceedings are disclosed, and both reporting persons are U.S. citizens/entities.

Positive

• 17.8 % beneficial ownership establishes Malone Wealth Ventures as a significant Quantum Biopharma stakeholder.
• Ongoing open-market purchases demonstrate continued confidence in the issuer’s prospects.
• Kevin Malone’s advisory position aligns shareholder and board interests, potentially enhancing strategic execution.

Negative

• Potential influence over control introduces uncertainty regarding future corporate actions.
• Filing notes MWV may sell shares at any time, posing possible overhang risk.

Insights

Financial Analyst

TL;DR – 17.8 % stake signals confidence; adds influential shareholder.

The filing shows MWV has amassed a material 17.8 % position, giving it a meaningful voice in Quantum Biopharma’s affairs. The mix of open-market purchases and equity compensation suggests both financial commitment and strategic involvement. Net buying on 23 June despite intraday volatility implies positive conviction. For investors, a large, professionally managed shareholder aligned with the board can help support capital access and discipline. The disclosure is impactful because it publicly identifies a new top-tier holder and confirms potential activism, factors that can affect valuation and future corporate actions.

Corporate Governance Expert

TL;DR – Advisory role plus sizeable stake raises governance influence questions.

Kevin Malone holds board-level advisory status while his firm controls 17.8 % of the float. Although voting power (52,265 shares) is below dispositive power, the combination of share ownership and board access positions MWV to shape strategy without formal control. The filing expressly reserves the right to influence management, a standard precursor to potential shareholder proposals or negotiated changes. Investors should monitor future amendments and any moves under Items 4(a)–(j) that could signal activism or support for transactions. Overall, the disclosure is impactful but not immediately adversarial, warranting neutral-to-positive assessment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Quantum Biopharma Ltd.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

74764Y205

(CUSIP Number)

Malone Wealth Ventures
9201 W State St. Ste 126,
Boise, ID, 83714
2089854526

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/12/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 74764Y205

1

Name of reporting person

Malone Wealth Ventures LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 52,265.00
8	Shared Voting Power
9	Sole Dispositive Power 610,371.00
10	Shared Dispositive Power

11

Aggregate amount beneficially owned by each reporting person

610,371.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

17.8 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

Les Gro

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Quantum Biopharma Ltd.
(c)	Address of Issuer's Principal Executive Offices: 55 UNIVERSITY AVENUE, SUITE 1003, 55 UNIVERSITY AVENUE, SUITE 1003, TORONTO, ONTARIO, CANADA , M5J 2H7.
Item 1 Comment: Les Gro
Item 2.	Identity and Background
(a)	This Schedule 13D is being filed by Kevin Malone, an individual and a U.S. citizen, and Malone Wealth Ventures LLC, a fiduciary investment advisory firm.
(b)	9201 W State St. Ste 126, Boise, ID, 83714
(c)	Kevin Malone is the President and CEO of Malone Wealth Ventures LLC, a fiduciary investment advisory firm located at 9201 W State St. Ste 126, Boise, ID 83714.
(d)	No
(e)	No
(f)	United States
Item 3.	Source and Amount of Funds or Other Consideration
	The securities reported herein were acquired through (i) open market purchases made using client funds over which Malone Wealth Ventures LLC has discretionary investment authority, and (ii) a grant of 30,000 shares issued directly to Kevin Malone as compensation for his role as Advisor to the Board of Directors of Quantum Biopharma Inc., pursuant to a consulting agreement between Mr. Malone and the issuer. An additional 60,000 share grant was received based on continuation of work. At this time, no other grants have been discussed in the future.
Item 4.	Purpose of Transaction
	The securities were acquired for investment purposes. Kevin Malone serves as Advisor to the Board of Directors of the issuer and may, in such capacity, participate in discussions relating to strategic direction, financing, capitalization, or corporate governance. As such, the Reporting Persons may be deemed to have an intent to influence the control of the issuer. The Reporting Persons may, from time to time, acquire additional securities of the issuer or dispose of some or all of the securities reported herein, depending on market conditions, investment strategies, or other factors. Except as set forth herein, the Reporting Persons do not currently have any plans or proposals which relate to or would result in any of the actions enumerated in paragraphs (a) through (j) of Item 4.
Item 5.	Interest in Securities of the Issuer
(a)	610,371 17.8%
(b)	52265
(c)	c. The following transactions in the Common Stock of the issuer were effected by Malone Wealth Ventures LLC on behalf of advisory clients on June 23, 2025. All transactions were open market purchases or sales executed on public exchanges: June 23, 2025 - Purchased 100 shares at $29.19 per share June 23, 2025 - Purchased 100 shares at $29.01 per share June 23, 2025 - Purchased 10 shares at $29.15 per share June 23, 2025 - Purchased 20 shares at $29.005 per share June 23, 2025 - Purchased 5 shares at $28.73 per share June 23, 2025 - Purchased 100 shares at $28.73 per share June 23, 2025 - Purchased 10 shares at $28.73 per share June 23, 2025 - Purchased 1000 shares at $27.676 per share June 23, 2025 - Purchased 300 shares at $27.50 per share June 23, 2025 - Purchased 230 shares at $26.54 per share June 23, 2025 - Purchased 4000 shares at $26.596 per share June 23, 2025 - Purchased 1000 shares at $26.806 per share June 23, 2025 - Purchased 100 shares at $26.80 per share June 23, 2025 - Purchased 190 shares at $26.827 per share June 23, 2025 - Purchased 5000 shares at $25.55 per share June 23, 2025 - Purchased 300 shares at $25.596 per share June 23, 2025 - Purchased 1000 shares at $22.18 per share June 23, 2025 - Sold 5000 shares at $22.549 per share June 23, 2025 - Purchased 10000 shares at $22.23 per share June 23, 2025 - Purchased 5000 shares at $23.974 per share

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Malone Wealth Ventures LLC

Signature:	Kevin M Malone
Name/Title:	President and CEO
Date:	06/23/2025

FAQ

How much of Quantum Biopharma (QNTM) does Malone Wealth Ventures now own?

The filing reports 610,371 shares, equal to 17.8 % of the outstanding common stock.

What is Kevin Malone’s role at Quantum Biopharma?

Kevin Malone serves as Advisor to the Board of Directors and received equity grants for this service.

What were the most recent transaction dates and prices disclosed?

All reported trades occurred on 23 June 2025 at prices between $22.18 and $29.19.

Does the Schedule 13D/A indicate any intent to influence company control?

Yes. The filing states the reporting persons may participate in discussions on strategy, financing and governance, implying potential influence.

Were any shares sold during the period covered by the filing?

Yes. MWV sold 5,000 shares at $22.549 on 23 June 2025 amid several larger purchase orders.