Quantum Biopharma: AdvisorShares reports 4.95% stake

Quantum Biopharma Ltd. (QNTM) is the issuer of the Class B Subordinate Voting Shares for which AdvisorShares Trust reported beneficial ownership of 400,378 shares, or 4.95% of the class.

Rhea-AI Filing Summary

Quantum Biopharma Ltd. (QNTM) is the issuer of the Class B Subordinate Voting Shares for which AdvisorShares Trust reported beneficial ownership of 400,378 shares, or 4.95% of the class. AdvisorShares Trust reported sole voting and dispositive power over 400,378 shares, with shared voting and dispositive power over zero shares. It identified its ownership as 5% or less of the class.

Key Figures

Beneficial ownership: 400,378 shares Percent of class: 4.95% Sole voting power: 400,378 shares +3 more

6 metrics

Beneficial ownership 400,378 shares AdvisorShares Trust's reported ownership

Percent of class 4.95% AdvisorShares Trust's reported ownership

Sole voting power 400,378 shares Reported by AdvisorShares Trust

Shared voting power 0 shares Reported by AdvisorShares Trust

Sole dispositive power 400,378 shares Reported by AdvisorShares Trust

Shared dispositive power 0 shares Reported by AdvisorShares Trust

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power

3 terms

beneficially owned financial

"Amount beneficially owned: 400,378"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"Sole Voting Power 400,378.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"Sole Dispositive Power 400,378.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many QNTM shares did AdvisorShares Trust report beneficially owning?

AdvisorShares Trust reported beneficial ownership of 400,378 Class B Subordinate Voting Shares, or 4.95% of the class. It reported sole voting and dispositive power over 400,378 shares and shared voting and dispositive power over zero shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/05/2026 - 09:40 AM Accepted by SEC EDGAR 10/05/2026 - 09:39 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Quantum Biopharma Ltd.

(Name of Issuer)

Class B Subordinate Voting Shares, no par value

(Title of Class of Securities)

74764Y205

(CUSIP Number)

09/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 74764Y205

1

Names of Reporting Persons

AdvisorShares Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 400,378.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 400,378.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

400,378.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.95 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Quantum Biopharma Ltd.
(b)	Address of issuer's principal executive offices: 1 Adelaide Street East, Suite 801, Toronto, Ontario, M5C 2V9, Canada
Item 2.
(a)	Name of person filing: AdvisorShares Trust
(b)	Address or principal business office or, if none, residence: 4800 Montgomery Lane, Suite 150 Bethesda, Maryland 20814
(c)	Citizenship: Delaware
(d)	Title of class of securities: Class B Subordinate Voting Shares, no par value
(e)	CUSIP No.: 74764Y205
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 400,378
(b)	Percent of class: 4.95%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 400,378
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 400,378
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

AdvisorShares Trust

Signature:	/s/ Stefanie Little
Name/Title:	Stefanie Little - Chief Compliance Officer
Date:	10/02/2026