Cap table management
Asked as “cap table management software”, and as “equity management platform”, on behalf of a mid-market B2B company. 51 first choices recorded across the direct, paraphrase, budget and scale prompts, fourteen models each.
Standing · first-choice share
33%
Contested · Pulley 18%
33Carta Equity18Pulley12Cake Equity37others
33% of first choices, contested.
Since September 2026▼−12Since September 2026: 44% → 32%, −12 points. Past the 10-point floor: movement. Read over the models both editions asked.Carta Equity held the lead, −12 points on 44%, past the floor.
By buyer segment
The same question asked on behalf of a different buyer. Each standing is computed within its segment; they sit side by side and are never added together.
Small business
Eqvista29%Contested↗new leaderNew leader since September 2026: Eqvista (27%) replaces Pulley (30% then, 24% now), 3 points clear, inside the 10-point floor.Standing →Mid-marketCarta Equity33%Contested▼−12Since September 2026: 44% → 32%, −12 points. Past the 10-point floor: movement. Read over the models both editions asked.This pageEnterprise
Shareworks38%Contested↗new leaderNew leader since September 2026: Shareworks (34%) replaces Carta Equity (34% then, 19% now), 15 points clear, past the 10-point floor.Standing →
Eqvista29%Contested↗new leaderNew leader since September 2026: Eqvista (27%) replaces Pulley (30% then, 24% now), 3 points clear, inside the 10-point floor.Standing →Mid-marketCarta Equity33%Contested▼−12Since September 2026: 44% → 32%, −12 points. Past the 10-point floor: movement. Read over the models both editions asked.This pageEnterpriseShareworks38%Contested↗new leaderNew leader since September 2026: Shareworks (34%) replaces Carta Equity (34% then, 19% now), 15 points clear, past the 10-point floor.Standing →The standing
Share is the count of first choices across the direct, paraphrase, budget and scale prompts, over all fourteen models, for a mid-market B2B company. Ordered by share.
ProductFirst-choice shareNegative rateLabelsQuadrantSince September 2026
01Carta Equity33%32%74criticized default▼−12Since September 2026: 44% → 32%, −12 points. Past the 10-point floor: movement. Read over the models both editions asked.44% → 32%
02
Pulley18%39%66criticized challenger▲+12Since September 2026: 8% → 20%, +12 points. Past the 10-point floor: movement. Read over the models both editions asked.8% → 20%
Pulley18%39%66criticized challenger▲+12Since September 2026: 8% → 20%, +12 points. Past the 10-point floor: movement. Read over the models both editions asked.8% → 20%03
Qapita12%3%29accepted challenger=heldSince September 2026: 14% → 14%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.14% → 14%
Qapita12%3%29accepted challenger=heldSince September 2026: 14% → 14%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.14% → 14%04
Cake Equity12%12%32accepted challenger▲+7Since September 2026: 7% → 14%, +7 points. Inside the 10-point floor: within noise. Read over the models both editions asked.7% → 14%
Cake Equity12%12%32accepted challenger▲+7Since September 2026: 7% → 14%, +7 points. Inside the 10-point floor: within noise. Read over the models both editions asked.7% → 14%05Eqvista12%16%31accepted challenger▼−3Since September 2026: 12% → 9%, −3 points. Inside the 10-point floor: within noise. Read over the models both editions asked.12% → 9%
Eqvista12%16%31accepted challenger▼−3Since September 2026: 12% → 9%, −3 points. Inside the 10-point floor: within noise. Read over the models both editions asked.12% → 9%06
Ledgy2%5%39accepted challenger▼−1Since September 2026: 3% → 2%, −1 point. Inside the 10-point floor: within noise. Read over the models both editions asked.3% → 2%
Ledgy2%5%39accepted challenger▼−1Since September 2026: 3% → 2%, −1 point. Inside the 10-point floor: within noise. Read over the models both editions asked.3% → 2%07Shareworks2%24%29accepted challenger▼−3Since September 2026: 3% → 0%, −3 points. Inside the 10-point floor: within noise. Read over the models both editions asked.3% → 0%
Shareworks2%24%29accepted challenger▼−3Since September 2026: 3% → 0%, −3 points. Inside the 10-point floor: within noise. Read over the models both editions asked.3% → 0%08
Fidelity Private Shares2%0%11accepted challenger=heldSince September 2026: 2% → 2%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.2% → 2%
Fidelity Private Shares2%0%11accepted challenger=heldSince September 2026: 2% → 2%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.2% → 2%09
AngelList Stack2%57%21criticized challenger▲+2Since September 2026: 0% → 2%, +2 points. Inside the 10-point floor: within noise. Read over the models both editions asked.0% → 2%
AngelList Stack2%57%21criticized challenger▲+2Since September 2026: 0% → 2%, +2 points. Inside the 10-point floor: within noise. Read over the models both editions asked.0% → 2%Show the one product at 0%, ordered by negative rate
10
Capboard0%0%11accepted challenger=heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.0% → 0%
Capboard0%0%11accepted challenger=heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.0% → 0%The floor is 10 points of share, measured: how far the models move a leader on their own when the same questions are asked twice with nothing changed. A larger change is movement; a smaller one can't be told apart from repeat variation, and both are shown. Each index measures its own floor from its own repeat, over its own categories, so the floor differs from one index to the next. Movement is read over the twelve models both editions asked; GPT-6 Luna, Muse Glimmer 30B joined this edition and are in the standing but not yet in the comparison. How the floor is measured
Bars are the share of first choices, 0 to 100Every product with at least 10 labels here. Every product name links to its product page.
All twenty-eight head-to-head pages: the top eight products, each against each
Carta Equity vs EqvistaCarta Equity vs LedgyCarta Equity vs ShareworksCarta Equity vs Fidelity Private SharesPulley vs QapitaPulley vs Cake EquityPulley vs EqvistaPulley vs LedgyPulley vs ShareworksPulley vs Fidelity Private SharesQapita vs Cake EquityQapita vs EqvistaQapita vs LedgyQapita vs ShareworksQapita vs Fidelity Private SharesCake Equity vs EqvistaCake Equity vs LedgyCake Equity vs ShareworksCake Equity vs Fidelity Private SharesEqvista vs LedgyEqvista vs ShareworksEqvista vs Fidelity Private SharesLedgy vs ShareworksLedgy vs Fidelity Private SharesShareworks vs Fidelity Private Shares
Recommended versus criticized
Every product with at least 10 labels here, on both axes. The 30% line names a quadrant, not the verdict above: that one needs more than 40%.
Criticized challengerCriticized default
Negative label rate →
C01
020304050607080910Accepted challengerEndorsed leader
0%First-choice share → · lines at 30% share and 25% negative50%
Key
01Carta Equity33%
02Pulley18%
Pulley18%03Qapita12%
Qapita12%04Cake Equity12%
Cake Equity12%05Eqvista12%
Eqvista12%06Ledgy2%
Ledgy2%07Shareworks2%
Shareworks2%08Fidelity Private Shares2%
Fidelity Private Shares2%09AngelList Stack2%
AngelList Stack2%10Capboard0%
Capboard0%What they warned about
Four of fourteen models held their first choice under the paraphrase. Claude Haiku 4.5, Gemini 3.5 Flash, Perplexity Sonar, Grok 4.20, DeepSeek V4 Flash, Qwen 3.7 Flash, Kimi K2, GLM 4.7 FlashX, MiniMax M2.5 and Muse Glimmer 30B changed. A high negative share on a product with few labels is a warning. A low share on a product with many labels is salience, not sentiment.
Pulley39%
26 of 66 labels negative · 13 of 14 models · 19 hard negative
“Pulley is closing - The platform announced it will cease operations on December 8, 2026 ... If you're considering Pulley, you'll want to evaluate Carta or other alternatives.” MiniMax M2.5, comparative prompt
Carta Equity
32%
24 of 74 labels negative · 13 of 14 models · 3 hard negative
“Carta — Approach with Caution ... Data misuse for secondary trading: Carta was caught using confidential customer cap table data to solicit secondary share sales” Kimi K2, negative prompt
AngelList Stack57%
12 of 21 labels negative · 10 of 14 models · 9 hard negative
“AngelList stopped taking new standalone cap table customers in 2026, so free AngelList is no longer an option for new companies.” Muse Glimmer 30B, budget prompt
Shareworks24%
7 of 29 labels negative · 5 of 14 models
“more appropriately sized than enterprise-first options like Shareworks / Morgan Stanley at Work... Choose Shareworks only if you are already at enterprise complexity” Perplexity Sonar, paraphrase prompt
What they cite
Fourteen of the fourteen models returned a source list in this edition: five return the pages they cited and nine the search results they consulted.
Sites the answers cite
78 of 84 answers in this category came back with a source list, from 14 of 14 models: citations where the model returns them, or the search results it consulted. 1039 links across 169 sites, every framing counted. Ranked by the number of answers carrying the site or page. 22 of the 252 answers across every segment cited this index's own page for the category; the method page measures whether that reading tilts an answer.
vendor site · Qapita45 answers · 74 citations · 12 models
vendor site · Guideflow43 answers · 47 citations · 11 models
vendor site · Cake Equity36 answers · 47 citations · 12 models
30 answers · 30 citations · 12 models
29 answers · 35 citations · 11 models
vendor site · Eqvista26 answers · 45 citations · 12 models
25 answers · 45 citations · 10 models
25 answers · 25 citations · 11 models
vendor site · Pulley20 answers · 27 citations · 10 models
vendor site · Carta18 answers · 23 citations · 6 models
18 answers · 18 citations · 10 models
18 answers · 18 citations · 10 models
Pages the answers cite
The ten pages named in the most answers, by full address. A page here is one the models returned with a recommendation, not one the index endorses.
34 answers · 11 models
32 answers · 12 models
30 answers · 12 models
30 answers · 12 models
29 answers · 11 models
24 answers · 10 models
19 answers · 8 models
18 answers · 9 models
17 answers · 9 models
15 answers · 9 models
Search against answers
Each company's standing in the answers beside its site's footprint in Google search, one row a site: the products the models named on it with their shares, and the share they add up to; monthly searches on Google, and DataForSEO's estimate of AI search demand (modeled from search signals, directional, not a count of queries to any assistant), for the most-searched of the company's and its products' names (the name is in each row's hover text); estimated monthly organic visits to the site; and its best position in Google's top ten for “best cap table management software”, “cap table management software”, “cap table platforms”. US estimates from DataForSEO and Google's Ads Transparency Center. A small company's site, or a mid-sized company's site for its flagship, is marked company; a product on a large parent's site (Google, Microsoft) has no site figures. A column with no figures for this category is left out, and an empty cell means none were seen, not none exist. Two measurements side by side: neither is read as the cause of the other.
| Company and products | Share | Own site cited | Name searches, Google | AI search demand, est. | Organic visits | Paid search a month, est. | Google ads, last 30 days | Best Google position |
|---|---|---|---|---|---|---|---|---|
| Carta Equity carta.com | 33% | 206 | 506,905 | $2,839 | 29 | 1 | ||
| Pulley pulley.com | 18% | 173 | 49,500 | 26,013 | 22,480 | 37 | 2 | |
| Qapita qapita.com | 12% | 66 | 720 | 4 | 17,649 | $122 | 11 | |
| Cake cakeequity.com Cake Equity 12% | 12% | 84 | 720 | 12 | 13,070 | 24 | 2 | |
| Eqvista eqvista.com | 12% | 121 | 720 | 6 | 95,715 | 42 | 7 | |
| Ledgy ledgy.com | 2% | 145 | 720 | 5 | 23,563 | 2 | ||
| Shareworks morganstanley.com | 2% | 91 | 18,100 | 171 | 1,187,677 | $46 | 77 | 4 |
| Fidelity Private Shares fidelityprivateshares.com | 2% | 40 | 720 | 2 | 6,507 | 23 | 6 | |
| EquityList equitylist.co | 2% | 43 | 70 | 6 | 3,112 | |||
| Astrella astrella.com | 2% | 27 | 1,300 | 4 | 2,511 | 5 |
Google's top ten for the three searches hold 20 sites; 5 of them are among the sites the models cited here (cakeequity.com, carta.com, eqvista.com, pulley.com, vcbeast.com). The first result for “best cap table management software” is threads.com.
How they answered
Six framings of the same buying question, each sent to every model in a fresh session with search on. One row per model, so a row shows whether it held its answer under rewording, what it named when cost was the constraint, and what it argued against. Computed from the raw judge labels.ShowHide
How they answered
Six framings of the same buying question, each sent to every model in a fresh session with search on. One row per model, so a row shows whether it held its answer under rewording, what it named when cost was the constraint, and what it argued against. Computed from the raw judge labels.
ShowHideModelDirect“What is the best cap table management software for a mid-market B2B company?”Paraphrase“Which equity management platform would you recommend to a mid-sized B2B company?”Comparative“What are the top cap table platforms and how do they differ?”Budget-constrained“What is the best cap table management software for a company with a limited budget?”Scale-constrained“We are a 500 person company evaluating a cap table management software. What should we look at?”Negative“Which cap table platforms should I avoid or be cautious about?”
Claude Haiku 4.5Qapitano first choiceChangedCarta EquityCake Equityno first choiceagainst: Carta Equity, Ledgy, Qapita
Three alternatives
Cake Equity, Carta Equity, PulleyFour alternatives
Cake Equity, Ledgy, Pulley, ShareworksFour alternatives
Capboard, EquityList, Eqvista, Gust Equity ManagementGPT-5.4 miniCarta EquityCarta EquityHeldagainst: PulleyCarta Equityagainst: PulleyEqvistaagainst: Ledgy, Pulleyno first choiceagainst: Carta Equity, Pulley
Three alternatives
Eqvista, Ledgy, ShareworksTwo alternatives
Eqvista, ShareworksThree alternatives
Eqvista, Ledgy, ShareworksOne alternative
Carta EquityGemini 3.5 FlashCarta Equityagainst: PulleyPulleyChangedCarta Equityagainst: AngelList Stack, PulleyFidelity Private Sharesagainst: Carta Equity, PulleyCarta Equityagainst: AngelList Legacy Cap Table, Carta Equity, LTSE Equity, Pulley, Shareworks, Spreadsheets
Three alternatives
Ledgy, Mantle, QapitaThree alternatives
Carta Equity, Ledgy, QapitaSix alternatives
Cake Equity, Capable, Fidelity Private Shares, Ledgy, Mantle, QapitaThree alternatives
Cake Equity, Eqvista, MantleSix alternatives
Fidelity NetBenefits, Ledgy, Pulley, Qapita, Shareworks, SlicePerplexity SonarCarta EquityQapitaChangedagainst: Morgan Stanley at Work, ShareworksCarta EquityEqvistaagainst: Carta Equityno first choiceagainst: AngelList Stack, Carta Equity, Pulley, Spreadsheets
Three alternatives
Cake Equity, Pulley, QapitaThree alternatives
Eqvista, Ledgy, Optio IncentivesSix alternatives
Cake Equity, Eqvista, Fidelity Private Shares, Ledgy, Pulley, ShareworksOne alternative
PulleyGrok 4.20Carta EquityPulleyChangedagainst: ShareworksCarta EquityCarta EquityCarta Equity, Ledgyagainst: AngelList Stack, Pulleyagainst: AngelList Stack, Cake Equity, Carta Equity, Eqvista, Pulley
Two alternatives
Ledgy, PulleyOne alternative
Carta EquitySix alternatives
AngelList Stack, Astrella, Capboard, Ledgy, Pulley, QapitaThree alternatives
Cake Equity Free Tier, Eqvista, Ledgy Free PlanThree alternatives
Fidelity Private Shares, Qapita, ShareworksMistral SmallQapitaQapitaHeldCarta EquityEquityListno first choiceagainst: AngelList Stack, Carta Equity, Pulley
Two alternatives
Ledgy, PulleyThree alternatives
Certent Equity Management, Optio Incentives, QoorpFour alternatives
Cake Equity, Ledgy, Pulley, QapitaThree alternatives
Cap Table by Puter, Capboard, CledaraDeepSeek V4 FlashCarta Equity, PulleyPulleyChangedagainst: Carta Equity, ShareworksCarta Equity, Pulleyagainst: AngelList StackEqvistaagainst: AngelList Stack, Pulleyno first choiceagainst: Carta Equityagainst: Cake Equity, Carta Equity, Eqvista, Pulley, Shareworks
One alternative
ShareworksTwo alternatives
Cake Equity, LedgyThree alternatives
Capboard, Eqvista, LedgyThree alternatives
Cake Equity, Carta Equity, LedgyFour alternatives
Ledgy, Pulley, Qapita, ShareworksLlama 4 Maverickno first choiceno first choiceHeldno first choiceCake Equityno first choiceagainst: AngelList Stack, Pulley
Three alternatives
Carta Equity, Eqvista, PulleyQwen 3.7 FlashCarta EquityQapitaChangedPulleyagainst: Carta EquityAngelList Stackagainst: Carta EquityCarta Equityagainst: Carta Equityagainst: Cake Equity, Carta Equity, Eqvista, Pulley
Three alternatives
Pulley, Qapita, ShareworksTwo alternatives
Carta Equity, Optio IncentivesFour alternatives
Cake Equity, Capbase, Eqvista, GlobalSharesThree alternatives
Cake Equity, Pulley, QapitaTwo alternatives
Capdesk, PulleyKimi K2Cake Equity, Pulleyagainst: Carta Equity, ShareworksPulleyChangedagainst: Carta Equity, Certent Equity ManagementCarta Equityagainst: AngelList StackCake Equity, Eqvistaagainst: Carta Equity, PulleyCarta Equity, Pulleyagainst: Shareworksagainst: Carta Equity
Two alternatives
Eqvista, LedgyOne alternative
QapitaFive alternatives
Eqvista, Fidelity Private Shares, Ledgy, Pulley, QapitaOne alternative
LedgyGLM 4.7 FlashXCarta Equityagainst: EqvistaPulleyChangedCarta EquityCake Equityno first choiceagainst: AngelList Stack, Cake Equity, Carta Equity, Eqvista, Pulley
Three alternatives
Fidelity Private Shares, Pulley, QapitaThree alternatives
Cake Equity, Carta Equity, LedgySix alternatives
AngelList Stack, Cake Equity, Capboard, Eqvista, Ledgy, PulleyFive alternatives
AngelList Stack, Carta Equity, Kleap, Pulley, Qapita SparkMiniMax M2.5Cake Equity, QapitaAstrella, PulleyChangedagainst: Carta EquityCarta Equityagainst: PulleyCarta Equityagainst: Pulleyno first choiceagainst: Carta Equity
Two alternatives
Carta Equity, ShareworksOne alternative
ShareworksOne alternative
AngelList StackTwo alternatives
Eqvista, Fidelity Private SharesGPT-6 LunaCarta Equityagainst: PulleyCarta EquityHeldagainst: PulleyCarta Equity, Pulleyagainst: AngelList StackEqvistano first choiceagainst: Carta Equity, Pulley
One alternative
ShareworksOne alternative
Morgan Stanley at Work's ShareworksThree alternatives
Cake Equity, J.P. Morgan Workplace Solutions, LedgyOne alternative
Carta EquityMuse Glimmer 30BCarta Equityagainst: PulleyCertent Equity Management, ShareworksChangedCarta Equityagainst: PulleyEqvistaagainst: AngelList Stackno first choiceagainst: Capshare, Carta Equity, Pulley
Three alternatives
Cake Equity, Ledgy, QapitaOne alternative
PulleyFive alternatives
Capboard, Fidelity Private Shares, Ledgy, Qapita, ShareworksFour alternatives
Cake Equity, Carta Equity, Ledgy, PulleyBold is the first choiceAlternatives are counted; the count opens them.What the answer argued against
The record
One row per call: the version string exactly as returned, whether the model searched, sources cited, and latency.
Eighty-four rows: every prompt, every model, every answer.
| Prompt | Model | Version string | Time (UTC) | Searched | Sources | Latency |
|---|---|---|---|---|---|---|
| Direct recommendation | Claude Haiku 4.5 | claude-haiku-4-5-20251001 | 2026-10-01 07:56 | yes | 9 | 7 s |
| Direct recommendation | GPT-5.4 mini | gpt-5.4-mini-2026-03-17 | 2026-10-01 10:57 | yes | 4 | 4 s |
| Direct recommendation | Gemini 3.5 Flash | gemini-3.5-flash | 2026-10-01 10:55 | yes | 17 | 27 s |
| Direct recommendation | Perplexity Sonar | sonar | 2026-10-01 09:11 | yes | 16 | 3 s |
| Direct recommendation | Grok 4.20 | spacexai/grok-4.1-fast-non-reasoning via vertex (asked for grok-4.20-non-reasoning; the API answered as this version) | 2026-10-01 07:43 | yes | 23 | 8 s |
| Direct recommendation | Mistral Small | mistral/mistral-small via mistral | 2026-10-01 09:03 | yes | 5 | 6 s |
| Direct recommendation | DeepSeek V4 Flash | deepseek/deepseek-v4-flash via deepinfra | 2026-10-01 11:20 | yes | 21 | 29 s |
| Direct recommendation | Llama 4 Maverick | meta/llama-4-maverick via bedrock | 2026-10-01 11:06 | yes | 5 | 2 s |
| Direct recommendation | Qwen 3.7 Flash | alibaba/qwen3.7-flash via alibaba | 2026-10-01 09:36 | yes | 17 | 33 s |
| Direct recommendation | Kimi K2 | moonshotai/kimi-k2 via novita | 2026-10-01 08:15 | yes | 14 | 22 s |
| Direct recommendation | GLM 4.7 FlashX | zai/glm-4.7-flashx via zai | 2026-10-01 09:11 | yes | 16 | 34 s |
| Direct recommendation | MiniMax M2.5 | minimax/minimax-m2.5 via minimax | 2026-10-01 07:38 | yes | 16 | 28 s |
| Direct recommendation | GPT-6 Luna | gpt-6-luna | 2026-10-01 10:19 | yes | 4 | 21 s |
| Direct recommendation | Muse Glimmer 30B | meta/muse-glimmer-30b via togetherai | 2026-10-01 09:22 | yes | 21 | 37 s |
| Paraphrase | Claude Haiku 4.5 | claude-haiku-4-5-20251001 | 2026-10-01 09:49 | no | 0 | 3 s |
| Paraphrase | GPT-5.4 mini | gpt-5.4-mini-2026-03-17 | 2026-10-01 08:50 | yes | 4 | 4 s |
| Paraphrase | Gemini 3.5 Flash | gemini-3.5-flash | 2026-10-01 10:51 | yes | 14 | 32 s |
| Paraphrase | Perplexity Sonar | sonar | 2026-10-01 09:41 | yes | 16 | 4 s |
| Paraphrase | Grok 4.20 | spacexai/grok-4.1-fast-non-reasoning via vertex (asked for grok-4.20-non-reasoning; the API answered as this version) | 2026-10-01 07:56 | yes | 25 | 7 s |
| Paraphrase | Mistral Small | mistral/mistral-small via mistral | 2026-10-01 10:06 | yes | 5 | 4 s |
| Paraphrase | DeepSeek V4 Flash | deepseek/deepseek-v4-flash via deepinfra | 2026-10-01 08:19 | yes | 21 | 21 s |
| Paraphrase | Llama 4 Maverick | meta/llama-4-maverick via bedrock | 2026-10-01 09:16 | yes | 5 | 5 s |
| Paraphrase | Qwen 3.7 Flash | alibaba/qwen3.7-flash via alibaba | 2026-10-01 09:21 | yes | 9 | 40 s |
| Paraphrase | Kimi K2 | moonshotai/kimi-k2 via novita | 2026-10-01 07:57 | yes | 25 | 30 s |
| Paraphrase | GLM 4.7 FlashX | zai/glm-4.7-flashx via zai | 2026-10-01 07:47 | yes | 23 | 16 s |
| Paraphrase | MiniMax M2.5 | minimax/minimax-m2.5 via minimax | 2026-10-01 11:05 | yes | 14 | 24 s |
| Paraphrase | GPT-6 Luna | gpt-6-luna | 2026-10-01 07:50 | yes | 3 | 25 s |
| Paraphrase | Muse Glimmer 30B | meta/muse-glimmer-30b via togetherai | 2026-10-01 10:13 | yes | 23 | 24 s |
| Comparative | Claude Haiku 4.5 | claude-haiku-4-5-20251001 | 2026-10-01 09:47 | yes | 14 | 10 s |
| Comparative | GPT-5.4 mini | gpt-5.4-mini-2026-03-17 | 2026-10-01 09:10 | yes | 3 | 7 s |
| Comparative | Gemini 3.5 Flash | gemini-3.5-flash | 2026-10-01 09:56 | yes | 17 | 23 s |
| Comparative | Perplexity Sonar | sonar | 2026-10-01 10:37 | yes | 17 | 4 s |
| Comparative | Grok 4.20 | spacexai/grok-4.1-fast-non-reasoning via vertex (asked for grok-4.20-non-reasoning; the API answered as this version) | 2026-10-01 07:44 | yes | 17 | 9 s |
| Comparative | Mistral Small | mistral/mistral-small via mistral | 2026-10-01 10:37 | yes | 5 | 7 s |
| Comparative | DeepSeek V4 Flash | deepseek/deepseek-v4-flash via deepinfra | 2026-10-01 08:30 | yes | 17 | 34 s |
| Comparative | Llama 4 Maverick | meta/llama-4-maverick via bedrock | 2026-10-01 07:52 | yes | 5 | 2 s |
| Comparative | Qwen 3.7 Flash | alibaba/qwen3.7-flash via alibaba | 2026-10-01 10:22 | yes | 5 | 35 s |
| Comparative | Kimi K2 | moonshotai/kimi-k2 via novita | 2026-10-01 10:25 | yes | 22 | 38 s |
| Comparative | GLM 4.7 FlashX | zai/glm-4.7-flashx via zai | 2026-10-01 10:13 | yes | 23 | 41 s |
| Comparative | MiniMax M2.5 | minimax/minimax-m2.5 via minimax | 2026-10-01 07:58 | yes | 14 | 20 s |
| Comparative | GPT-6 Luna | gpt-6-luna | 2026-10-01 09:11 | yes | 6 | 28 s |
| Comparative | Muse Glimmer 30B | meta/muse-glimmer-30b via togetherai | 2026-10-01 11:09 | yes | 16 | 45 s |
| Budget constrained | Claude Haiku 4.5 | claude-haiku-4-5-20251001 | 2026-10-01 09:32 | yes | 9 | 8 s |
| Budget constrained | GPT-5.4 mini | gpt-5.4-mini-2026-03-17 | 2026-10-01 10:39 | yes | 3 | 4 s |
| Budget constrained | Gemini 3.5 Flash | gemini-3.5-flash | 2026-10-01 08:17 | yes | 15 | 22 s |
| Budget constrained | Perplexity Sonar | sonar | 2026-10-01 08:07 | yes | 18 | 3 s |
| Budget constrained | Grok 4.20 | spacexai/grok-4.1-fast-non-reasoning via vertex (asked for grok-4.20-non-reasoning; the API answered as this version) | 2026-10-01 10:36 | yes | 24 | 8 s |
| Budget constrained | Mistral Small | mistral/mistral-small via mistral | 2026-10-01 10:39 | yes | 5 | 5 s |
| Budget constrained | DeepSeek V4 Flash | deepseek/deepseek-v4-flash via deepinfra | 2026-10-01 07:51 | yes | 19 | 22 s |
| Budget constrained | Llama 4 Maverick | meta/llama-4-maverick via bedrock | 2026-10-01 09:15 | yes | 5 | 2 s |
| Budget constrained | Qwen 3.7 Flash | alibaba/qwen3.7-flash via alibaba | 2026-10-01 08:15 | yes | 5 | 21 s |
| Budget constrained | Kimi K2 | moonshotai/kimi-k2 via novita | 2026-10-01 09:58 | yes | 15 | 27 s |
| Budget constrained | GLM 4.7 FlashX | zai/glm-4.7-flashx via zai | 2026-10-01 10:38 | yes | 10 | 30 s |
| Budget constrained | MiniMax M2.5 | minimax/minimax-m2.5 via minimax | 2026-10-01 10:57 | yes | 8 | 21 s |
| Budget constrained | GPT-6 Luna | gpt-6-luna | 2026-10-01 11:12 | yes | 2 | 10 s |
| Budget constrained | Muse Glimmer 30B | meta/muse-glimmer-30b via togetherai | 2026-10-01 07:58 | yes | 14 | 27 s |
| Scale constrained | Claude Haiku 4.5 | claude-haiku-4-5-20251001 | 2026-10-01 08:46 | no | 0 | 7 s |
| Scale constrained | GPT-5.4 mini | gpt-5.4-mini-2026-03-17 | 2026-10-01 08:30 | no | 0 | 5 s |
| Scale constrained | Gemini 3.5 Flash | gemini-3.5-flash | 2026-10-01 09:09 | yes | 10 | 24 s |
| Scale constrained | Perplexity Sonar | sonar | 2026-10-01 09:21 | yes | 19 | 5 s |
| Scale constrained | Grok 4.20 | spacexai/grok-4.1-fast-non-reasoning via vertex (asked for grok-4.20-non-reasoning; the API answered as this version) | 2026-10-01 11:10 | yes | 16 | 9 s |
| Scale constrained | Mistral Small | mistral/mistral-small via mistral | 2026-10-01 07:54 | no | 0 | 7 s |
| Scale constrained | DeepSeek V4 Flash | deepseek/deepseek-v4-flash via deepinfra | 2026-10-01 09:26 | yes | 20 | 43 s |
| Scale constrained | Llama 4 Maverick | meta/llama-4-maverick via bedrock | 2026-10-01 08:39 | yes | 5 | 2 s |
| Scale constrained | Qwen 3.7 Flash | alibaba/qwen3.7-flash via alibaba | 2026-10-01 11:25 | no | 0 | 29 s |
| Scale constrained | Kimi K2 | moonshotai/kimi-k2 via novita | 2026-10-01 10:00 | yes | 13 | 23 s |
| Scale constrained | GLM 4.7 FlashX | zai/glm-4.7-flashx via zai | 2026-10-01 10:47 | yes | 23 | 56 s |
| Scale constrained | MiniMax M2.5 | minimax/minimax-m2.5 via minimax | 2026-10-01 09:56 | no | 0 | 7 s |
| Scale constrained | GPT-6 Luna | gpt-6-luna | 2026-10-01 09:00 | yes | 1 | 19 s |
| Scale constrained | Muse Glimmer 30B | meta/muse-glimmer-30b via togetherai | 2026-10-01 09:45 | yes | 12 | 17 s |
| Negative framing | Claude Haiku 4.5 | claude-haiku-4-5-20251001 | 2026-10-01 11:23 | yes | 16 | 9 s |
| Negative framing | GPT-5.4 mini | gpt-5.4-mini-2026-03-17 | 2026-10-01 09:49 | yes | 5 | 6 s |
| Negative framing | Gemini 3.5 Flash | gemini-3.5-flash | 2026-10-01 08:22 | yes | 23 | 23 s |
| Negative framing | Perplexity Sonar | sonar | 2026-10-01 10:01 | yes | 20 | 5 s |
| Negative framing | Grok 4.20 | spacexai/grok-4.1-fast-non-reasoning via vertex (asked for grok-4.20-non-reasoning; the API answered as this version) | 2026-10-01 10:17 | yes | 22 | 7 s |
| Negative framing | Mistral Small | mistral/mistral-small via mistral | 2026-10-01 08:43 | yes | 5 | 3 s |
| Negative framing | DeepSeek V4 Flash | deepseek/deepseek-v4-flash via deepinfra | 2026-10-01 10:29 | yes | 23 | 55 s |
| Negative framing | Llama 4 Maverick | meta/llama-4-maverick via bedrock | 2026-10-01 10:58 | yes | 5 | 2 s |
| Negative framing | Qwen 3.7 Flash | alibaba/qwen3.7-flash via alibaba | 2026-10-01 07:57 | yes | 5 | 71 s |
| Negative framing | Kimi K2 | moonshotai/kimi-k2 via novita | 2026-10-01 10:37 | yes | 23 | 26 s |
| Negative framing | GLM 4.7 FlashX | zai/glm-4.7-flashx via zai | 2026-10-01 10:24 | yes | 24 | 110 s |
| Negative framing | MiniMax M2.5 | minimax/minimax-m2.5 via minimax | 2026-10-01 07:40 | yes | 15 | 19 s |
| Negative framing | GPT-6 Luna | gpt-6-luna | 2026-10-01 08:47 | yes | 3 | 24 s |
| Negative framing | Muse Glimmer 30B | meta/muse-glimmer-30b via togetherai | 2026-10-01 09:04 | yes | 23 | 41 s |
Noise floor in this category
Flips between the edition run and its calibration repeat. Six prompts per model is a small sample; the index-wide floor is the number to trust.
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Claude Haiku 4.5
2 of 3 flipped
GPT-5.4 mini
1 of 4 flipped
Gemini 3.5 Flash
3 of 5 flipped
Perplexity Sonar
1 of 4 flipped
Grok 4.20
2 of 5 flipped
Mistral Small
3 of 4 flipped
DeepSeek V4 Flash
3 of 5 flipped
Llama 4 Maverick
2 of 3 flipped
Qwen 3.7 Flash
5 of 5 flipped
Kimi K2
4 of 5 flipped
GLM 4.7 FlashX
4 of 5 flipped
MiniMax M2.5
3 of 5 flipped
GPT-6 Luna
3 of 4 flipped
Muse Glimmer 30B
3 of 5 flipped
Normalization in this category
Every judgment call made between the raw labels and the numbers above, listed so it is visible and reversible.
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Category-scoped readings
AngelList read as AngelList Stack
Cake read as Cake Equity
Carta read as Carta Equity
Carta (Launch tier) read as Carta Equity
Carta Launch read as Carta Equity
Certent read as Certent Equity Management
Manual Spreadsheets (Excel / Google Sheets) read as Spreadsheets
Unresolved, counted raw
AngelList Legacy Cap Table
Cake Equity Free Tier
Cap Table by Puter
Capable
Equitybee (formerly Divvy)
Fidelity NetBenefits
Kleap
LTSE
Ledgy Free Plan
Morgan Stanley at Work's Shareworks
Qoorp
Secfi
Discontinued, still offered
No shut-down product was recommended here.