Key points
- Maverick Capital has reported about $266 million of Infleqtion (INFQ) stock sales since May 21, across 17 million shares.
- Friday's Form 4 adds $2.6 million in sales and a 350,115-share gift, leaving 1.4 million shares from a February stake of 20 million.
- An August buyback tripped the short-swing rule, so Maverick owes Infleqtion $299,922.51 of profit.
A new Form 4 for Infleqtion (INFQ) hit the SEC's system Friday. The number on it looked modest by hedge fund standards: about $2.6 million of stock sold over three days. The names on the paperwork made me pull the full history. Maverick Capital is Lee Ainslie's firm, one of the original Tiger cubs, and it's been filing Infleqtion paperwork all year. Read those filings back to February and Friday's report turns out to be the closing chapter of a $266 million wind-down.
The new report covers the final three days of that sequence. On Wednesday, Maverick sold 33,405 shares at a weighted average price of $12.62. Another 164,824 shares went out Friday at a $13.02 average, with some transactions reaching $13.50. Between those sales, the firm gave away 350,115 shares on Thursday for no consideration. That gift reduced the Maverick Capital Advisors account to zero.
After the sales and gift, 1,381,233 shares remain. They sit in family estate-planning entities controlled by Ainslie. None of the sales were made under a 10b5-1 trading plan.
Why is a hedge fund submitting Form 4s in the first place? The form is normally associated with corporate insiders. Maverick falls into that category because David Singer, a managing partner in the firm's venture business, serves on Infleqtion's board. His board seat subjects the broader Maverick group to insider-reporting rules. As a result, its gifts and sales appear in much the same way as transactions by a chief executive, providing an unusually detailed record of a major early investor exiting a position.
Before becoming Infleqtion, the quantum-computing company was known as ColdQuanta. Maverick's venture arm invested before the company's 2020 Series A financing. Infleqtion went public on the NYSE on February 17 through a merger with the SPAC Churchill Capital Corp X. The deal brought in more than $550 million in gross proceeds. Maverick's first Schedule 13D, filed the day after trading started, showed the size of its win. It held 19,976,664 shares, a 9.2% stake in the newly public company.
About $266 million sold in three months
Maverick began selling on May 21 and moved through the stake quickly. The figures below come directly from the firm's Form 4 filings.
| Dates | Shares sold | Prices | Value |
|---|---|---|---|
| May 21 and 22 | 11,907,630 | $14.69 to $17.04 averages | about $186 million |
| May 27 | 3,071,623 | $15.29 and $15.98 averages | about $47.6 million |
| May 29 | 1,797,637 | $15.63 to $18.15 | about $28.9 million |
| August 4 to 13 | 52,071 | $10.85 to $12.24 | about $595,000 |
| August 19 and 21 | 198,229 | $12.50 to $13.50 | about $2.6 million |
| Total | 17,027,190 | about $266 million |
Within two days of the first round of selling, Maverick crossed below the 5% ownership threshold. An amended Schedule 13D later reported 8,069,034 shares remaining as of May 22. That's 3.6% of Infleqtion.
Selling on the open market was only one part of the wind-down. In late May, two Maverick funds also handed millions of shares directly to their own investors, "pro rata for no consideration," as the filings put it. A distribution like that moves stock instead of money. The fund hands each investor their slice of the position and lets them decide what happens next, and the shares disappear from Maverick's filings at that point.
For the sellers, the timing worked out about as well as it could have. Most of the selling happened in May at prices between $14.69 and $18.15. Infleqtion spent much of July under $10 and touched $8.75 at its low. It closed Friday at $14.10, up 12.4% on a strong day for quantum stocks generally. Rigetti (RGTI) climbed 11%, and IonQ (IONQ) and D-Wave (QBTS) both gained about 8%. Even after that jump, it's still just below the prices Maverick got in May.
Why Maverick must pay Infleqtion $299,922.51
The strangest filing in the pile landed a week earlier, on August 14. A smaller Maverick fund had sold 52,071 shares over the first two weeks of August. On August 14 it bought exactly 52,071 shares back at an average of $12.42 and delivered them "to a lender in repayment of a stock loan."
That buyback tripped a rule with real teeth. Section 16(b) of the securities laws lets a company claim the profit when an insider buys and sells its stock within six months, and the rule applies in either order and for any reason. The August purchase matched against sales from May 22, when Maverick was selling above $17. The filing spells out the bill: the fund "will pay to the Issuer, upon settlement of the purchase, $299,922.51, representing the full amount of the profit realized." So Infleqtion collects a check from its own early backer because two trades landed less than six months apart. Insider filings hand you a story like that every so often.
Everything the filings can tell us stops at the mechanics. A zero-price gift keeps its recipient private, so the 350,115 shares could have gone to a charity or to a family vehicle. The paperwork treats both the same. The selling itself reads like a venture investor cashing in a win it waited years for. It doesn't say much about quantum computing as an industry, where the payoff timelines run long even by the government's own accounting, and Ainslie's family entities still hold 1.4 million shares. If you're tempted to read something tradable into any of this, start with our piece on what actually happens when you copy hedge funds, Congress and insiders. Infleqtion's filings and price history are on our INFQ page.
Sources
- Maverick Capital Form 4 filed August 21, 2026, for this week's sales, the 350,115-share gift and the remaining holdings
- Maverick Capital Form 4 filed August 14, 2026, for the stock loan repayment and the $299,922.51 short-swing payment
- Maverick Capital Form 4s filed May 26 and May 29, 2026, plus an amendment, for the May sales and the pro rata distributions
- Maverick Capital Schedule 13D filed February 18, 2026 and the May 26 amendment, for the stake sizes
- Stock price data via Robinhood as of the August 21, 2026 close
