Product

One research workspace. A delegate that keeps it current.

Annula holds your theses, models, filings and portfolio in one place. A delegate works inside the goals you set: it reads what's new, runs the math, updates what it's allowed to, and brings you only the decisions that are yours.

Delegate

Autonomous, inside your goals.

Give it a goal like "keep my Costco thesis current." It watches filings, news and your portfolio, and it acts on its own only where your rules allow.

  • Rules you can read. Alone, ask me, never. Change any rule by asking.
  • A log of every step, with its cause and the sources behind it. Any action can be undone.
  • Decisions come to you one at a time, with the evidence on the card.
Goal · Keep COST thesis current3 actions today
What the delegate may do
ALONE
Read filingsMatch evidenceCalculateNarrow wording
ASK ME
New assumptionsFair value moves over 10%
NEVER
TradesDelete my notes
systemRead COST 8-K Ex.99.1auto
calcFair value $1,004 → $948auto
delegateNarrowed A2 to renewals undoauto
delegateAdd A5: sign-ups recover?asks you
Boards

Ask a question. Get a dashboard built for it.

The delegate doesn't answer in paragraphs. It assembles a board of real, calculated blocks: a reverse DCF, the filing passage, a chart from the 10-K, your tripwires. Pin the boards you like and they become your own navigation.

  • Every block says where it came from: calc, source, model or you.
  • Numbers are computed by code, never written by the model.
  • Follow-ups rebuild the board. "Stress renewals to 88%." "Only primary sources."
Is COST still worth holding at $912?↵
Answermodel · 5 sources

Yes, with less room than before. Fair value is $948, 3.9% above the price.

Reverse DCFcalc
Price implies7.1%
Your model8.0%
The passage8-K p.2

Sign-ups in two regions grew more slowly, while renewals held.

Tripwiresyours

Renewals below 89% · clear
Sign-ups recover by Q2 · watching

Since v4diff

One input changed: net member growth 4.1% → 3.2%.

Research

Every company, with its evidence attached.

A company page holds your thesis next to the numbers: price against your dated fair value, assumptions with evidence for and against, financials, the eight pillars, estimates, news, filings, competitors, ownership and insiders.

  • A filings reader that highlights the passages that touch your assumptions.
  • Suggested edits to your thesis, shown like tracked changes, in your words.
  • History you can't overwrite. Each version is a ring; open any one.
COST · Costco Wholesale$912.40FV $948 · v5
OverviewThesisModelFinancials8 PillarsFilingsHistory
8-K Ex. 99.1 · p. 2SEC
New member sign-ups in two regions grew more slowly than in prior quarters following the fee adjustment, while renewal rates remained consistent.
Delegate
Against A2 as written. Narrowed it to renewals.
You · Aug 17
Expect a short dip in sign-ups.
Models

Show the math. Every number has parents.

DCF, earnings and FCF exits, and a reverse DCF, with low, base and high cases. Trace any result back to its inputs and each input to a filing or to you.

  • Running a model never changes your view. Adopting a fair value needs a reason and is dated.
  • Sensitivity against the price, so you can see how much room you have.
  • Saved runs you can compare with inputs lined up side by side.
Why $948calculator · no model
Fair value / share$948−$56
Membership fees FY31$7.63B−4.2%
Paid members FY31106.8M−4.2%
Net member growth3.2%8-K
Discount · terminal8.5% · 3%you
Fair value by sign-ups and renewalscalc
8088408769219538769169489841,016
Portfolio & journal

What you own, and how your calls aged.

Accounts, positions, cash, income and exposure, each holding next to its thesis and fair value. The journal keeps every decision dated and scores how it turned out.

  • Screener with the eight-pillar preset, rules you can read, and a compare tray.
  • Watchlists and a calendar of earnings, dividends and macro releases for your companies.
  • Scorecards for bull, bear and trim calls after 90 days.
PortfolioYTD +18.4% · S&P +12.1%
Bull calls64%right after 90 days
Bear calls60%right after 90 days
Trims50%you trim winners early
Annula in your AI Coming soon

Your research, inside Claude and ChatGPT.

Annula will connect to the AI apps you already use. Ask Claude, Cursor or ChatGPT about a holding and they answer from your theses, your models and real filing data, with sources, under the same rules as the Annula app.

  • Remote MCP server. Add Annula to Claude, Cursor and any app that speaks MCP, the open standard for AI tools.
  • ChatGPT app. The same tools and boards inside ChatGPT.
  • Boards in the chat. A board can render right in the conversation, every number still computed by Annula.
  • Your gates travel with it. Outside apps can read and compute. Anything that would change your research arrives in Annula as a proposal for you to approve.
  • Plugins and integrations for brokers, notes apps and calendars.
Claude· connected: Annulaexample
How exposed is my portfolio to the Oct 3 export rule?
annulaportfolio · exposure by themeread
annulafilings · ASML 6-K, TSM 6-Kread
annulastress test · semis −20%calc
21% of your portfolio is in semis, 2.1× the index. A 20% drop in the group would cost about 4.2% of the portfolio. ASML is the most exposed.
via Annula · portfolio, 2 filings, calculator
proposalAdd "export rule" as a risk on ASML?review in Annula
Web, Mac and iPhone

One account. Three ways in.

Start in the browser, add the Mac app when you want your research kept on your own machine, and check in from your phone.

Web app

Open it anywhere at app.useannula.com. Nothing to install.

Delegate engine
Your own API key (a hosted option comes later)
Your data
In your Annula account, isolated and encrypted

Mac app

The private tier. Keep research only on your Mac if you like.

Delegate engine
Everything on web, plus Codex, Claude Code or a local model
Your data
On your Mac; sync is optional

iPhone Coming soon

A native app for Today, decisions and the delegate on the go.

Delegate engine
Uses your account's engine
Your data
Synced with your account

See it with a real thesis.

The demo opens on a Costco example with the delegate mid-task. Ask it a question and watch the board build.