Anthropic's help page has said since 11 February 2026 that it does not permit special purpose vehicles (SPVs) to acquire its stock, and that any transfer to one is void.
I searched the SEC's EDGAR for every Form D that names Anthropic, OpenAI or xAI and read the structured filings. 74 vehicles named after Anthropic have filed since 2023. Together they report $189.5 million raised, through 2,060 investor entries.
15 of the 74 report a first sale after 11 February, for $34.6 million.
What I learned doing it: a Form D proves a vehicle raised money. It does not say what the money bought. A vehicle called "Anthropic Fund II" may hold approved shares, a forward contract on shares someone hopes to sell later, a slice of another fund, or nothing yet. The filing is silent, so I can't tell you which, and neither can the investors from the filing alone.
30 of the 74 are series of one Delaware LLC whose filings all list Sydecar, an SPV-administration platform; each series has its own manager.
Full count, method and caveats in yesterday's X Article: https://x.com/con_golias/status/2119478653239070783
