Significant Contract Modifications ($10M+) — March 04, 2026

Bollinger ($2.08B FRCs) and Birdon ($106M LLTM) secure multi-year Coast Guard commitments to 2028-2034, expanding fleet to 58 cutters.

Brasfield ($407M FBI tech buildings) and BCCG ($105M CBP border barrier) awards indicate near-term DOJ/DHS infrastructure push through 2026.

SAIC ($806M State IT), Maximus ($104M CMS QIC), and ATCC ($233M CDC IRR) provide steady revenue streams with $608M already outlayed.

Fixed-price structures across 5 contracts ($2.7B+ value) expose Bollinger, Brasfield, BCCG, Birdon, Maximus to cost overruns amid inflation.

Long tenures (10+ years for Birdon/ATCC) and low initial outlays (e.g., $0 Bollinger, $641k BCCG) heighten funding/execution risks.

High subawards (SAIC $946M/398 subs; ATCC $62M) create supply chain dependencies.

$453M+ in unexercised options (Bollinger $68M, SAIC $453M, etc.) could boost values 10-56%.

DHS focus on FRC/border/LLTM signals follow-on shipbuilding/infra needs post-2026.

SAIC lead integrator role and Maximus CMS experience position for recompetes.

DHS awards total $2.29B (60% of period value) across Coast Guard ships and CBP barriers, prioritizing fleet/infra modernization.

HHS/State/DOJ mods ($1.55B) emphasize IT, health admin, and facilities with 70%+ outlayed in mature contracts.

{"entity"=>"Bollinger Shipyards", "reason"=>"$2.08B obligation dominates 54% of period value with $0 outlayed.", "trigger"=>"Initial funding tranche or option exercise >$68M"}

{"entity"=>"SAIC", "reason"=>"$806M obligation with $453M options and high subawards signals IT program expansion.", "trigger"=>"State IT recompete award or option pull-down"}

{"entity"=>"DHS Shipbuilding Pipeline", "reason"=>"Birdon 2034 end + Bollinger FRC fleet buildout indicate decade-long tail.", "trigger"=>"New Coast Guard vessel solicitations"}