Every category where a model named Fidelity Private Shares for a mid-market B2B company. Share is first choices across the direct, paraphrase, budget and scale prompts; rank is within every product named in that category.

Category	Function	Share	Rank	Negative rate	Labels	Quadrant
Cap table management	Equity and corporate	2%	8 of 41	0%	14	accepted challenger

Movement

This is the first edition on this tier, so no move can be computed for Fidelity Private Shares yet. From the next edition this section shows, per buyer segment, whether its share moved by more than the measured noise floor.

By model

How each model treated Fidelity Private Shares across every prompt where it was named for a mid-market B2B company. Twelve models, six prompts per category.

Model	First choice	Alternative	Mention	Labels
Claude Haiku 4.5	0	0	0	0
GPT-5.4 mini	0	0	0	0
Gemini 3.5 Flash	0	2	1	3
Perplexity Sonar	0	1	0	1
Grok 4.1 Fast	0	1	0	1
Mistral Small	0	1	0	1
DeepSeek V4 Flash	1	1	1	3
Llama 4 Maverick	0	1	0	1
Qwen 3.7 Flash	0	0	1	1
Kimi K2	0	0	2	2
GLM 4.7 FlashX	0	0	0	0
MiniMax M2.5	0	0	1	1

By framing

Which of the six questions produced the naming. By model says how often; this says asked what. The first-choice count on the right carries the marks of the models that produced it.

FramingLabels by classFirst choices

Direct4 labelsNone

Paraphrase2 labelsNone

Comparative7 labelsNone

Budget-constrained9 labels1

Scale-constrained2 labelsNone

Negative3 labelsNone

First choiceAlternativeMentionNegative27 labels in all, every segment counted; 1 of the 1 first choices count toward share, since the comparative and negative framings do not. The bar is one segment per label class, to scale within the framing.

What the models said for it

Verbatim evidence the judge attached to positive labels.

“starting with a free tier (Carta Launch or Fidelity Private Shares)” DeepSeek V4 Flash · Cap table management · budget prompt · first choice

“Offers secure equity management with strong support and investor access for small and mid-market companies.” Llama 4 Maverick · Cap table management · paraphrase prompt · alternative

“Fidelity Private Shares (Free for <25 stakeholders and <$1M raised): Bank-backed reliability” Grok 4.1 Fast · Cap table management · budget prompt · alternative

“a highly robust option that is backed by an established financial institution” Gemini 3.5 Flash · Cap table management · budget prompt · alternative

And against it

Verbatim evidence attached to negative labels. A warning on a product with few labels is a warning; on a product with many, it is one voice among them.

No model argued against it.

Named alongside

The products named in the same answers as Fidelity Private Shares, over the 27 answers that named it. Took the first choice instead counts the answers where the other product was the first choice and Fidelity Private Shares was named but was not.

ProductSame answerTook the first choice insteadHead to head

Carta27 of 2712Not in the top three

Pulley25 of 278Not in the top three

Eqvista19 of 277Not in the top three

Cake Equity19 of 271Not in the top three

Ledgy14 of 270Not in the top three

Shareworks9 of 270Not in the top three

Mantle7 of 273Not in the top three

Qapita6 of 271Not in the top three

Capboard6 of 270Not in the top three

AngelList Stack4 of 270Not in the top three

A head-to-head page exists where both products are in a category's top three. The other rows are the same fact without a page behind them, so they link to the product instead.

What carried it into the answer

The sites and pages cited by the answers that named Fidelity Private Shares. A fact about retrieval, not a lever on the model.

Citations exist only for the models that return a source list, four of the twelve in this edition, so these counts come from 20 of the 27 answers that named Fidelity Private Shares and are not a share of its labels.

Domains cited

cakeequity.com16

waveup.com15

valueaddvc.com14

guideflow.com11

qapita.com10

aifundingtracker.com9

eqvista.com9

vcbeast.com9

ctacquisitions.com7

blog.withmantle.com6

106 of the 106 domain citations in answers naming Fidelity Private Shares came from somebody else's page.

Pages cited

waveup.com/blog/best-cap-table-management-software15

cakeequity.com/guides/best-cap-table-software14

valueaddvc.com/blog/best-cap-table-management-tools-in-2026-carta-pulley-angellist-capdesk12

guideflow.com/blog/cap-table-management-software10

aifundingtracker.com/best-cap-table-management-software9

qapita.com/blog/best-cap-table-management-software8

vcbeast.com/best-cap-table-management8

ctacquisitions.com/best-cap-table-software-20267

Pages are listed as the models cited them.

Names read as Fidelity Private Shares

What the judge wrote, as written, with how often. The vendor table decides that these count as Fidelity Private Shares; a claim can dispute any of them.

Fidelity Private Shares/Shareworks 1

Is this your product?

Claim this page

Claiming is free and changes nothing in the data. A claimed page shows a verified contact who is told when each edition publishes and when Fidelity Private Shares's standing changes by more than the noise floor; the right to propose corrections to the vendor table, meaning names the judge wrote that should or should not read as Fidelity Private Shares, applied by version and listed in the change log; and a one-line description supplied by the vendor and marked as such.

It does not get any change to labels, shares or verdicts, any preview, or any say over which quotes appear. A verification link goes to your work email; an address at fidelityprivateshares.com is approved on the spot, any other address is reviewed by hand.

Your name and company appear on the claimed page, or the company alone if you ask below. A title and a LinkedIn address appear there too if you give them, and are left off if you do not. Your email address is never published.