diff --git a/.changeset/spec-exists-jsdoc-has-value.md b/.changeset/spec-exists-jsdoc-has-value.md
new file mode 100644
index 0000000000..43f2fe4770
--- /dev/null
+++ b/.changeset/spec-exists-jsdoc-has-value.md
@@ -0,0 +1,37 @@
+---
+'@objectstack/spec': patch
+---
+
+docs(spec): `$exists` JSDoc said key-presence, which has been false since protocol alignment (#13709)
+
+`SpecialOperatorSchema.$exists` carried `Field exists check (primarily for NoSQL) -
+MongoDB: $exists`. That describes key-presence, and key-presence stopped being what
+`$exists` means when the has-value alignment landed (PR #13529 / `9dac1ae017`). The
+line was not stale phrasing — it was false, and it is the last of the six sites that
+carried the old claim; the other five were corrected by PR #13581 / PR #13577.
+
+The corrected wording is the one recorded on #13539 and already shipped on those five
+sites: `$exists` asks whether the field HAS A VALUE (`!= null`), the exact inverse of
+`$null`, never key presence — lowered to `IS NOT NULL` / `IS NULL` on SQL and to
+`{$ne: null}` / `{$eq: null}` on MongoDB. Verified against all three evaluators before
+rewriting: `formula`'s `matchesFilterCondition` (`v === true ? actual != null : actual == null`),
+`objectql`'s `having` face, and the `filter-logic-conformance.ts` table, which enrolls
+`$exists` in both directions.
+
+Prose only. No accept/reject change: `$exists` was and stays `z.boolean().optional()`,
+and the JSDoc is a comment, not a `.describe()` — the schema, its JSON-Schema
+projection and all 15 generated artifacts are byte-identical (`check:generated` green
+on a freshly built `dist`).
+
+Where the corrected line does and does not surface, measured rather than assumed:
+
+- **Published source — yes.** This package's `files` array ships `src/**/*.zod.ts`, so
+  `filter.zod.ts` is in the npm tarball and the comment reaches consumers verbatim.
+  That is the surface this patch is for.
+- **Emitted `.d.ts` — no.** Zero of the emitted `.d.ts`/`.d.mts` carry the text; the
+  property's type is inferred from Zod, so no declaration comment is written. It
+  appears in `dist` only inside `.js.map` sourcemaps.
+- **Generated reference page — no.** `content/docs/references/data/filter.mdx` renders
+  its Description column from `prop.description`, i.e. a Zod `.describe()`; `$exists`
+  carries none, so that cell is empty before and after. Regenerating all 230 pages
+  produces no diff. See #13709 for the follow-up on that empty cell.
diff --git a/packages/spec/src/data/filter.zod.ts b/packages/spec/src/data/filter.zod.ts
index 1f71470c2d..5ff205b277 100644
--- a/packages/spec/src/data/filter.zod.ts
+++ b/packages/spec/src/data/filter.zod.ts
@@ -994,7 +994,11 @@ export const SpecialOperatorSchema = lazySchema(() => z.object({
   /** Is null check - SQL: IS NULL (true) / IS NOT NULL (false) | MongoDB: field: null */
   $null: z.boolean().optional(),
   
-  /** Field exists check (primarily for NoSQL) - MongoDB: $exists */
+  /**
+   * Field HAS A VALUE (`!= null`) — the inverse of `$null`, never key presence.
+   * Lowered to `IS NOT NULL` (true) / `IS NULL` (false) on SQL and to
+   * `{$ne: null}` / `{$eq: null}` on MongoDB.
+   */
   $exists: z.boolean().optional(),
 }));