Anduril

As filed: ANDURIL · and 7 other spellings across funds

Every mark, and where it comes from

Each row is one fund's own reported figure for 2026-Q3. "Per share" is the reported dollar value divided by the reported share count — nothing else has been done to it. The filing link opens the document the two numbers came from.

These funds hold 14 different instruments in Anduril. Different preferred series carry genuinely different rights and prices, so part of the spread above is not disagreement about the company — it is the difference between the securities. Compare rows with the same instrument before drawing a conclusion.

Quarter by quarter

The same measurement, repeated. Fund counts move between quarters partly because holdings change and partly because this snapshot reads a bounded sample of filings, so read the medians rather than the changes in coverage.

Can you actually own any of this?

You cannot buy Anduril directly. What you can buy is a public company or a registered fund that holds a stake in it. The last column is the part that matters: how many dollars of Anduril you get for every $10,000 you invest in that security.

Read those figures against the whole investment, not against the stake. A route delivering a few hundred dollars of Anduril per $10,000 is overwhelmingly a position in the holder's own business — which may be a fine thing to own, but for its own reasons. The full exposure map shows every route we can price, including the funds whose premium to net asset value we refuse to estimate and why.

How accurate have marks like these been?

Anduril is still private, so nothing here can be scored against a market price yet. What can be scored is the method: 6 companies we covered have since listed. On the 3 of those whose share count did not change on the way to market, the median fund mark came in -38.2% against the first closing price, with a worst absolute miss of 2250%. Marks are consistently conservative and occasionally very wrong. Every graded listing is published, including the ones that make the method look bad.

Snapshot built 2026-11-07 from SEC EDGAR · all covered companies · this company as JSON