No, Anduril is not publicly traded. Retail investors can’t buy it on an exchange today, so the realistic paths are waiting for an IPO or looking at public defense-tech peers like Palantir, Lockheed Martin, and Northrop Grumman.
No, Anduril is not publicly traded. Retail investors can’t buy it on an exchange today, so the realistic paths are waiting for an IPO or looking at public defense-tech peers like Palantir, Lockheed Martin, and Northrop Grumman.
Anduril has become one of the most closely watched private defense companies in the market. It’s growing fast, landing major U.S. military contracts, and expanding its footprint with a new Southern California campus — all while staying private and raising another huge funding round.
That mix makes it a natural target for retail investors asking the same question: how do I invest in Anduril before an IPO, and is there any way to get exposure now? Here’s the straight answer, plus the closest public alternatives and the few indirect paths that actually exist.
What is Anduril?
Anduril is a defense technology company founded in 2017 and headquartered in Costa Mesa, California. Its core business is autonomous systems and the software layer that connects them, with Lattice as its command-and-control and mission-autonomy platform. The company’s product families span land, sea, air, and space, including Force Protection, Air Systems such as Bolt, Barracuda, Roadrunner, Fury, Ghost, and Altius, Underwater Systems such as Copperhead, Dive-LD, Dive-XL, and Seabed Sentry, plus Rocket Motors.
The scale has moved quickly. Anduril said it reached $2.2 billion in revenue in 2025, up from about $1 billion in 2024, and said it nearly doubled its workforce over that period. It also announced a second Southern California campus in Long Beach/Lakewood that could support about 5,500 direct jobs at full capacity, with the site expected to come online in mid-2027.
Is Anduril publicly traded?
No, Anduril is currently a privately held company, not a public stock. There’s no public ticker, no public parent company, and no indication of a public listing in the materials I reviewed.
Ownership appears to be private, venture-backed, and founder-led, with Palmer Luckey identified as the founder. The company has raised repeated VC-led rounds rather than being controlled by a public parent, PE sponsor, or family owner.
When will Anduril go public?
Anduril has not filed an S-1, so there’s no formal IPO process on the public record yet. Palmer Luckey told CNBC in June 2025 that Anduril will “definitely” go public, but he did not give a timeline.
The latest disclosed valuation is $61 billion, from a $5 billion Series H announced May 13, 2026. That kind of fresh private capital usually means the company is still comfortable staying private for now, so investors should watch for an S-1 filing, banker hiring, and any shift in financing activity before expecting a listing.
Get AI research on any stock
Instant reports, daily intelligence, and an AI analyst in your pocket.
For most retail investors, the first option is simple: wait for an IPO. If Anduril files and lists, you’d typically buy shares through a brokerage account once trading begins, just like any other new public stock. Until then, there’s no direct retail purchase on an exchange.
There’s no public parent ticker to buy, so that route doesn’t exist here. The next realistic option is to look at comparable public companies that give you exposure to similar defense, autonomy, and government-tech themes — that’s where most retail investors end up.
Private secondary markets are another possibility, but they’re generally limited to accredited investors and often involve SPVs or private placements rather than direct, easy access. Platforms in that space exist, but access is restricted and liquidity can be limited, so this is not a normal retail path.
Indirect exposure: backdoor ways to invest
Yes, there are some indirect routes, but they’re not the same as owning Anduril shares outright. Fidelity Contrafund has disclosed Anduril Industries Inc Class B, Class C, and Series G holdings in SEC documents, and other private vehicles have also shown Anduril exposure through preference shares or call-right structures.
That said, the exposure is diluted inside a larger fund or vehicle, so you’re not getting a clean one-for-one bet on Anduril. You’re buying a portfolio, paying that fund’s fees, and accepting whatever position size Anduril represents inside it. I did not find a mainstream ETF with a clearly disclosed Anduril position in the sources reviewed.
Closest publicly-traded alternatives
The closest public comps are Palantir (PLTR), Lockheed Martin (LMT), and Northrop Grumman (NOC). Palantir is the most software-heavy comparison because it overlaps with defense data fusion, command-and-control, and government tech. Lockheed Martin and Northrop Grumman are the more traditional defense-prime proxies, giving investors exposure to U.S. military spending, weapons programs, aerospace, and advanced systems.
When people look for an Anduril proxy, these are the names they usually end up comparing. PLTR captures the software-and-defense angle, while LMT and NOC capture the large-scale defense procurement side of the story.
Recent news
Anduril’s biggest recent development was its May 13, 2026 Series H, which raised $5 billion at a $61 billion valuation. The company also said it reached $2.2 billion in revenue in 2025 and nearly doubled its workforce. Around the same time, it announced a production agreement for Surface-Launched Barracuda-500M with a minimum target of 1,000 all-up rounds per year and first deliveries expected in 1H 2027.
Other recent milestones include a $23.9 million U.S. Marine Corps contract for more than 600 Bolt-M systems, JIATF-401 selecting Lattice as its tactical command-and-control platform for C-UAS, the Long Beach campus expansion, and the launch of the AI Grand Prix autonomous drone competition.
Like what you're reading?
Get full access to AI-powered research reports, market analysis, and portfolio tools.
If you want Anduril specifically, the honest answer is that you can’t buy it directly as a retail investor today. The realistic choices are to wait for an IPO, pursue private-market access only if you’re accredited and can handle the risks, or use public-market proxies.
For most people, the best actionable path is to study the public comparables — especially PLTR, LMT, and NOC — because that’s where you can actually put money to work now. If Anduril does file for an IPO later, that changes the equation, but until then it remains a private company with no direct retail listing.
▌Common Questions
Frequently asked questions
+Is Anduril publicly traded?
No, Anduril is currently a privately held company, not a public stock. There’s no public ticker, no public parent company, and no indication of a public listing in the materials I reviewed.
+When will Anduril go public?
Anduril has not filed an S-1, so there’s no formal IPO process on the public record yet. Palmer Luckey told CNBC in June 2025 that Anduril will “definitely” go public, but he did not give a timeline.
+How can you invest in Anduril?
For most retail investors, the first option is simple: wait for an IPO. If Anduril files and lists, you’d typically buy shares through a brokerage account once trading begins, just like any other new public stock. Until then, there’s no direct retail purchase on an exchange.
▌The Daily Briefing · Free
A new stock idea, every evening.
One stock worth watching each weekday, plus the analysis behind it. Free, in your inbox.
