---
title: "Five vehicles named after Anduril, and Anduril signs none of them"
description: "On 11 August 2026 a Form D/A registers the fifth fund series named after Anduril: manager in Boca Raton, $11.4m raised, Anduril never a signatory."
url: https://csidia.com/en/notes/cinque-veicoli-intestati-anduril-form-d/
lang: en
date: 2026-08-11
label: "Observatory"
publisher: CSIDIA S.r.l. (https://csidia.com/)
italiano: https://csidia.com/note-operative/cinque-veicoli-intestati-anduril-form-d/
---

# Five vehicles named after Anduril, and Anduril signs none of them

If you buy a stake in a fund whose name says Anduril, what do you actually hold? On the first half of that question the SEC's public filings are precise: a stake in a Delaware limited liability company run by two people in Florida. On the second — what that company holds — they say nothing at all, because the form does not ask. And on **11 August 2026** a new filing puts the question back on the table.

## The facts, from the filing

**SEC EDGAR** lists **29 series** registered under the name **Greenbird Intelligence Fund, LLC**, each with its own CIK. **Twenty-one** carry the name of a private company in their own name: SpaceX (Series I, N, S), Convoy (L), Flexport (M), **Anduril (O, P, T, Y, Z)**, xAI (Q, R), Shield AI (U, W), Dataminr (J), Rubrik (K), Erebor (V), Saronic (X), Chaos (XA), "AI & Robotics" (ZA), FigureAI (ZB). Series A through H carry no company name.

Today's filing is a **Form D/A** (accession 0002133428-26-000002, amending the prior 0002133428-26-000001) for **Greenbird Intelligence Fund, LLC Series Z - Anduril**, CIK 0002133428. The issuer is a Delaware limited liability company, formed in 2026, with an address at **2500 N Military Trail, Suite 120, Boca Raton, Florida**. The manager is **Greenbird Intelligence Management LLC**, at the same address, listed as "Executive Officer" with the note "Its Manager." The named individuals are **Michael Gestone** and **Nikolas Costello**, both "Co-Manager of the Manager." The filing is signed by **Nikolas Costello**.

The filing classifies the vehicle as a **Pooled Investment Fund**, "Other Investment Fund", and answers "is40Act" with **false**. The federal exemptions claimed are **06b** (Rule 506(b)) and **3C**/**3C.1** — section 3(c)(1) of the Investment Company Act, the exclusion for funds with a limited number of beneficial owners. The issuer's aggregate net asset value is listed as "Decline to Disclose".

## Series Z, by the numbers

First sale is dated **15 May 2026**. Total offering amount is "Indefinite"; the **amount actually sold is $1,848,063**, raised from **15 investors**, all accredited (the box for non-accredited investors reads false). **Sales commissions are $165,190**, flagged as an estimate in the filing; finders' fees are zero. Use of gross proceeds shows **$41,297**, with the verbatim note: "Represents a Management Fee payable to Greenbird Intelligence Management LLC." The recipient of the commissions is **GREENBIRD CAPITAL LLC**, CRD 306692, at the same Boca Raton address as the fund and the manager; the "associatedBDName" field reads "None". The states of solicitation listed are Alabama, Arizona, Florida, Georgia, Kansas, Louisiana, Maryland, Mississippi, New York, Texas.

## Five series, one pattern

Series Z is not the first to carry that name. The manager has opened five series named after Anduril in succession, each with its own filing:

| series | latest filing | sold ($) | investors | commissions ($) | management fee ($) | first sale |
|---|---|---|---|---|---|---|
| O | D/A 31 Jul 2024 | 1,340,108 | 23 | 106,834 | 26,802 | 7 Jun 2024 |
| P | D/A 26 Feb 2025 | 2,097,346 | 24 | 165,163 | 41,946 | 14 Nov 2024 |
| T | D 8 Jul 2025 | 1,150,800 | 9 | 92,064 | 23,016 | 24 Jun 2025 |
| Y | D 30 Apr 2026 | 4,989,621 | 27 | 446,000 | 111,500 | 15 Apr 2026 |
| Z | D/A 11 Aug 2026 | 1,848,063 | 15 | 165,190 | 41,297 | 15 May 2026 |

Adding up the five filings — our own arithmetic, not a figure declared in any single document — comes to **$11,425,938 sold**, **98 investor positions**, **$975,251 in commissions** and **$244,561 in management fees**: together, **$1,219,812, or 10.7% of the amount sold**.

The figure worth a sentence is the trajectory. In the three older series (O, P, T), commissions run at roughly 8% of the amount sold and the management fee at exactly 2.00%: a combined load around 10%. In the two series that appeared in 2026 (Y and Z), commissions climb to 8.94% and the management fee to 2.23%, for a combined load of roughly 11.2%. Same structure, same manager, same commission recipient: in the two 2026 series the load runs more than a point above the three earlier ones.

The same pattern repeats for other defence and AI companies: **Shield AI** (Series U, $3,313,000, 32 investors; Series W, $2,030,669, 19), **xAI** (Series Q, $1,910,000, 18; Series R, $1,030,000, 15), **Saronic** (Series X, $2,925,333, 25), **Erebor** (Series V, $2,845,177, 29) — always with GREENBIRD CAPITAL LLC as the commission recipient.

[See the service](https://csidia.com/en/solutions/document-compliance) · [Talk to an engineer](https://csidia.com/en/contact)

## The point

The name on the wrapper is not the thing itself. Whoever buys into one of these series does not have a relationship with Anduril: they hold a stake in a Delaware company run by two people in Boca Raton. **Form D does not require disclosure of what the vehicle actually holds**: the series name is a name, not a statement of assets. And nothing in the filing shows Anduril as issuer, signatory, or related person.

It is the same distinction anyone buying technology runs into in procurement, whenever the purchase passes through a reseller, a distributor, a consortium or a vehicle — the same reading forced by [a supplier paid in shares of its own subsidiary](https://csidia.com/en/notes/licenza-pagata-in-azioni-quota-del-fornitore) or by [a sales channel that is not the same thing as an authorisation](https://csidia.com/en/notes/zerotier-carahsoft-canale-non-autorizzazione): **your contract is with the wrapper**, and the right you hold runs against the wrapper — not against the company whose name convinced you to sign.

## What we do not know, and do not claim

Form D **does not require** disclosure of the underlying asset: we cannot confirm from these documents what the vehicles actually hold, and we make no such claim. **Nothing in the filings indicates involvement, approval or knowledge on Anduril's part**, which is neither issuer, signatory nor related person: we do not imply it. **There is nothing unlawful here**: offerings under Rule 506(b), limited to accredited investors and notified to the SEC through a Form D, are ordinary and lawful; the commissions are disclosed in the filing, not hidden — the value of this piece is the reading, not an accusation. The commissions are flagged as estimates. The **98 positions** are the sum of the figures declared series by series: the same person may appear in more than one series, so this does not necessarily amount to 98 distinct people. We have not contacted any of the parties and have no sources beyond the filings.

## Sources

- [SEC EDGAR — Form D/A, 11 August 2026, Greenbird Intelligence Fund, LLC Series Z - Anduril](https://www.sec.gov/Archives/edgar/data/2133428/000213342826000002/primary_doc.xml)
- [SEC EDGAR — list of companies named "Greenbird Intelligence"](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=greenbird+intelligence&type=D&dateb=&owner=include&count=100)
- [SEC EDGAR — filings of Greenbird Intelligence Fund, LLC, Series Y - Anduril (CIK 0002131111)](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002131111&type=D&dateb=&owner=include&count=40)

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