Cadre (CDRE)
Market Price (9/18/2026): $25.9 | Market Cap: $1.1 BilSector: Industrials | Industry: Aerospace & Defense
Cadre (CDRE)
Market Price (9/18/2026): $25.9Market Cap: $1.1 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% Attractive yieldFCF Yield is 7.0% Low stock price volatilityVol 12M is 48% Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Smart Buildings & Proptech. Themes include Private Real Estate Investment Platforms, and Proptech Platforms. | Weak multi-year price returns2Y Excs Rtn is -60%, 3Y Excs Rtn is -65% | Key risksCDRE key risks include [1] heightened regulatory and product liability exposure from its specialized safety products and [2] demand volatility tied to fluctuating government budgets. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 20% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 7.0% |
| Low stock price volatilityVol 12M is 48% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Smart Buildings & Proptech. Themes include Private Real Estate Investment Platforms, and Proptech Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -60%, 3Y Excs Rtn is -65% |
| Key risksCDRE key risks include [1] heightened regulatory and product liability exposure from its specialized safety products and [2] demand volatility tied to fluctuating government budgets. |
Qualitative Assessment
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Updated on 9/16/2026
Cadre (CDRE) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Significant Insider Selling Exceeded $5 Million Threshold.
CEO Warren B. Kanders conducted substantial share sales, particularly in June 2026. An entity he manages, Kanders SAF, LLC, sold 225,000 shares between June 15-17, 2026, at weighted average prices ranging from $28.19 to $30.03, totaling approximately $6.65 million. This notable insider selling activity by a key executive often contributes to negative market sentiment and can be interpreted as a lack of confidence in the company's near-term prospects, applying downward pressure on the stock price.
2. Weakening Financial Position with Decreased Cash and Increased Debt in Fiscal Q2 2026.
As of the end of fiscal Q2 2026 (June 30, 2026), Cadre's cash and cash equivalents significantly decreased by $68.9 million, falling from $122.9 million at December 31, 2025, to $54.0 million. Concurrently, the company's total debt increased by $67.1 million, rising from $307.3 million at December 31, 2025, to $374.3 million. This substantial shift towards higher leverage and reduced liquidity could have raised investor concerns about the company's financial health and capital structure.
Show more
Cadre (CDRE) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Significant Insider Selling Exceeded $5 Million Threshold.
CEO Warren B. Kanders conducted substantial share sales, particularly in June 2026. An entity he manages, Kanders SAF, LLC, sold 225,000 shares between June 15-17, 2026, at weighted average prices ranging from $28.19 to $30.03, totaling approximately $6.65 million. This notable insider selling activity by a key executive often contributes to negative market sentiment and can be interpreted as a lack of confidence in the company's near-term prospects, applying downward pressure on the stock price.
2. Weakening Financial Position with Decreased Cash and Increased Debt in Fiscal Q2 2026.
As of the end of fiscal Q2 2026 (June 30, 2026), Cadre's cash and cash equivalents significantly decreased by $68.9 million, falling from $122.9 million at December 31, 2025, to $54.0 million. Concurrently, the company's total debt increased by $67.1 million, rising from $307.3 million at December 31, 2025, to $374.3 million. This substantial shift towards higher leverage and reduced liquidity could have raised investor concerns about the company's financial health and capital structure.
Show more
Updated on 9/16/2026
Cadre (CDRE) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Significant Insider Selling Exceeded $5 Million Threshold.
CEO Warren B. Kanders conducted substantial share sales, particularly in June 2026. An entity he manages, Kanders SAF, LLC, sold 225,000 shares between June 15-17, 2026, at weighted average prices ranging from $28.19 to $30.03, totaling approximately $6.65 million. This notable insider selling activity by a key executive often contributes to negative market sentiment and can be interpreted as a lack of confidence in the company's near-term prospects, applying downward pressure on the stock price.
2. Weakening Financial Position with Decreased Cash and Increased Debt in Fiscal Q2 2026.
As of the end of fiscal Q2 2026 (June 30, 2026), Cadre's cash and cash equivalents significantly decreased by $68.9 million, falling from $122.9 million at December 31, 2025, to $54.0 million. Concurrently, the company's total debt increased by $67.1 million, rising from $307.3 million at December 31, 2025, to $374.3 million. This substantial shift towards higher leverage and reduced liquidity could have raised investor concerns about the company's financial health and capital structure.
3. Mixed Profitability Signals Despite Strong Top-Line Growth in Fiscal Q2 2026.
While Cadre reported robust operational performance for fiscal Q2 2026 (ended June 30, 2026), with net sales increasing 32% year-over-year to $207.1 million—surpassing analyst estimates by 16.3%—and adjusted EBITDA growing 56% to $42.0 million, the reported net income presented a more mixed picture. Net income for the six months ended June 30, 2026, was $13.4 million, a decline from $21.5 million in the prior year period. This decline was attributed to factors such as increased contingent consideration expense, compensation expense, and adverse foreign currency fluctuations, which may have tempered overall investor enthusiasm despite strong revenue and adjusted EBITDA performance.
Show less
Cadre (CDRE) stock has lost about 15% since 5/31/2026 because of the following key factors:
1. Significant Insider Selling Exceeded $5 Million Threshold.
CEO Warren B. Kanders conducted substantial share sales, particularly in June 2026. An entity he manages, Kanders SAF, LLC, sold 225,000 shares between June 15-17, 2026, at weighted average prices ranging from $28.19 to $30.03, totaling approximately $6.65 million. This notable insider selling activity by a key executive often contributes to negative market sentiment and can be interpreted as a lack of confidence in the company's near-term prospects, applying downward pressure on the stock price.
2. Weakening Financial Position with Decreased Cash and Increased Debt in Fiscal Q2 2026.
As of the end of fiscal Q2 2026 (June 30, 2026), Cadre's cash and cash equivalents significantly decreased by $68.9 million, falling from $122.9 million at December 31, 2025, to $54.0 million. Concurrently, the company's total debt increased by $67.1 million, rising from $307.3 million at December 31, 2025, to $374.3 million. This substantial shift towards higher leverage and reduced liquidity could have raised investor concerns about the company's financial health and capital structure.
3. Mixed Profitability Signals Despite Strong Top-Line Growth in Fiscal Q2 2026.
While Cadre reported robust operational performance for fiscal Q2 2026 (ended June 30, 2026), with net sales increasing 32% year-over-year to $207.1 million—surpassing analyst estimates by 16.3%—and adjusted EBITDA growing 56% to $42.0 million, the reported net income presented a more mixed picture. Net income for the six months ended June 30, 2026, was $13.4 million, a decline from $21.5 million in the prior year period. This decline was attributed to factors such as increased contingent consideration expense, compensation expense, and adverse foreign currency fluctuations, which may have tempered overall investor enthusiasm despite strong revenue and adjusted EBITDA performance.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -15.9% change in CDRE stock from 5/31/2026 to 9/17/2026 was primarily driven by a -13.5% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.04 | 26.10 | -15.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 636 | 686 | 7.9% |
| Net Income Margin (%) | 5.8% | 5.3% | -9.3% |
| P/E Multiple | 35.8 | 31.0 | -13.5% |
| Shares Outstanding (Mil) | 43 | 43 | -0.6% |
| Cumulative Contribution | -15.9% |
Market Drivers
5/31/2026 to 9/17/2026| Return | Correlation | |
|---|---|---|
| CDRE | -15.9% | |
| Market (SPY) | 0.8% | 20.8% |
| Sector (XLI) | -2.4% | 32.8% |
Fundamental Drivers
The -40.8% change in CDRE stock from 2/28/2026 to 9/17/2026 was primarily driven by a -28.3% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.10 | 26.10 | -40.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 619 | 686 | 10.8% |
| Net Income Margin (%) | 7.3% | 5.3% | -28.3% |
| P/E Multiple | 39.5 | 31.0 | -21.6% |
| Shares Outstanding (Mil) | 41 | 43 | -5.0% |
| Cumulative Contribution | -40.8% |
Market Drivers
2/28/2026 to 9/17/2026| Return | Correlation | |
|---|---|---|
| CDRE | -40.8% | |
| Market (SPY) | 11.5% | 37.6% |
| Sector (XLI) | -4.3% | 44.6% |
Fundamental Drivers
The -14.3% change in CDRE stock from 8/31/2025 to 9/17/2026 was primarily driven by a -20.9% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.46 | 26.10 | -14.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 573 | 686 | 19.7% |
| Net Income Margin (%) | 6.7% | 5.3% | -20.9% |
| P/E Multiple | 32.5 | 31.0 | -4.7% |
| Shares Outstanding (Mil) | 41 | 43 | -5.0% |
| Cumulative Contribution | -14.3% |
Market Drivers
8/31/2025 to 9/17/2026| Return | Correlation | |
|---|---|---|
| CDRE | -14.3% | |
| Market (SPY) | 19.2% | 37.1% |
| Sector (XLI) | 12.3% | 47.0% |
Fundamental Drivers
The 2.1% change in CDRE stock from 8/31/2023 to 9/17/2026 was primarily driven by a 46.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9172026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.57 | 26.10 | 2.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 468 | 686 | 46.5% |
| Net Income Margin (%) | 6.3% | 5.3% | -16.7% |
| P/E Multiple | 32.5 | 31.0 | -4.8% |
| Shares Outstanding (Mil) | 38 | 43 | -12.2% |
| Cumulative Contribution | 2.1% |
Market Drivers
8/31/2023 to 9/17/2026| Return | Correlation | |
|---|---|---|
| CDRE | 2.1% | |
| Market (SPY) | 75.3% | 34.5% |
| Sector (XLI) | 62.7% | 42.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CDRE Return | 67% | -20% | 66% | -1% | 28% | -35% | 84% |
| Peers Return | 2% | -14% | 32% | 37% | -16% | 11% | 50% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| CDRE Win Rate | 100% | 50% | 75% | 50% | 50% | 33% | |
| Peers Win Rate | 50% | 42% | 52% | 60% | 47% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| CDRE Max Drawdown | - | -36% | -23% | -24% | -29% | -42% | |
| Peers Max Drawdown | -32% | -36% | -21% | -20% | -36% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSA, GNTX, AXON, LAKE, NPK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/17/2026 (YTD)
How Low Can It Go
| Event | CDRE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.7% | -18.8% |
| % Gain to Breakeven | 26.1% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.3% | -6.7% |
| % Gain to Breakeven | 27.1% | 7.1% |
| Time to Breakeven | 131 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.9% | -24.5% |
| % Gain to Breakeven | 36.9% | 32.4% |
| Time to Breakeven | 52 days | 427 days |
In The Past
Cadre's stock fell -20.7% during the 2025 US Tariff Shock. Such a loss loss requires a 26.1% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | CDRE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.7% | -18.8% |
| % Gain to Breakeven | 26.1% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.3% | -6.7% |
| % Gain to Breakeven | 27.1% | 7.1% |
| Time to Breakeven | 131 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.9% | -24.5% |
| % Gain to Breakeven | 36.9% | 32.4% |
| Time to Breakeven | 52 days | 427 days |
In The Past
Cadre's stock fell -20.7% during the 2025 US Tariff Shock. Such a loss loss requires a 26.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cadre (CDRE)
Cadre Holdings, Inc. (CDRE) specializes in the manufacturing and distribution of critical safety and survivability equipment designed to protect individuals in hazardous or life-threatening situations. The company operates through two main segments: Products, where it develops and manufactures its own specialized gear, and Distribution, which involves offering a range of third-party products to its customer base.
Cadre's extensive product portfolio encompasses a wide array of protective equipment. Key offerings include various types of body armor under brands like Safariland and Protech Tactical, specialized bomb suits, and advanced tools for explosive ordnance disposal (EOD) technicians such as survival suits, remotely operated vehicles, and blast sensors. Additionally, the company provides duty gear, communications equipment, forensic investigation products, firearms cleaning solutions, and crowd control products. Through its distribution segment, Cadre also supplies third-party items like uniforms, optics, boots, firearms, and ammunition.
The company primarily serves vital public safety and defense markets globally. Its diverse customer base includes first responders such as state and local law enforcement, fire and rescue, emergency medical technicians, and departments of corrections. Cadre is also a key supplier to numerous U.S. federal agencies, including the Departments of Defense, Justice, and Homeland Security, as well as various foreign government agencies, providing essential equipment for personnel operating in dangerous environments.
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Here are 1-3 brief analogies to describe Cadre:
The Grainger for government and first responder safety and tactical equipment.
Like a specialized defense contractor, focusing on the personal protective gear and equipment for soldiers, police, and emergency personnel.
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- Body Armor: Manufactures concealable, corrections, and tactical armor under various brands for personal protection.
- Bomb Safety Equipment: Provides specialized gear for bomb disposal technicians, including bomb suits, survival suits, remotely operated vehicles, and blast sensors.
- Duty Gear: Offers belts and a range of accessories essential for law enforcement and first responders.
- Law Enforcement & Protective Equipment: Includes communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control items.
- Third-Party Product Distribution: Distributes products from other manufacturers such as uniforms, optics, boots, firearms, and ammunition.
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Cadre (CDRE) primarily sells its products and services to governmental agencies and first responder organizations, rather than to individual consumers or other public companies. Its major customers can be categorized as follows:
- State and Local Government Agencies: This includes state and local law enforcement, fire and rescue departments, explosive ordnance disposal technicians, emergency medical technicians, fishing and wildlife enforcement agencies, and departments of corrections.
- U.S. Federal Agencies: This category encompasses various federal departments and agencies such as the U.S. Department of State, U.S. Department of Defense, U.S. Department of Interior, U.S. Department of Justice, U.S. Department of Homeland Security, and U.S. Department of Corrections.
- Foreign Government Agencies: Cadre also serves various government agencies in other countries.
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Warren B. Kanders, Chief Executive Officer & Chairman of the Board
Warren B. Kanders has served as Cadre Holdings' Chief Executive Officer and a director since April 2012. He also holds the position of Executive Chairman of Clarus Corporation, a NASDAQ-listed company focused on the outdoor and consumer industries, a role he has held since 2002. From January 1996 until its acquisition by BAE Systems plc in July 2007 for $4.5 billion, Mr. Kanders was the Chairman of the Board of Directors, and from April 2003, the Chief Executive Officer, of Armor Holdings, Inc., a manufacturer and supplier of military vehicles, armored vehicles, and safety and survivability products. He received a $300 million payout from the sale of Armor Holdings. In 2012, Mr. Kanders purchased the Safariland Group, Cadre's core brand, back from BAE for $124 million. He established Kanders & Company, Inc., a private investment firm, in 1990. In 1992, he co-founded Benson Eyecare Corp., which was later sold to Essilor International in 1996 for $225 million, with Mr. Kanders realizing an estimated personal gain of $30 million. His 2012 acquisition of Safariland established a "tightly controlled private equity-style structure" for the company.
Brad Williams, President
Brad Williams was appointed Chief Operating Officer in March 2017 and subsequently promoted to President in 2019. Before joining Cadre Holdings, Mr. Williams held various roles of increasing responsibility at IDEX Corporation from June 2010 to March 2017, including President of the Material Processing Technologies Group, President of the Energy & Fuels Midstream Group, and Vice President & General Manager of Toptech Systems. Prior to his tenure at IDEX Corporation, he held positions at Danaher Corporation and Ingersoll-Rand Company.
Blaine Browers, Chief Financial Officer
Blaine Browers was appointed as Cadre Holdings' Chief Financial Officer in May 2018. Before joining the company, Mr. Browers served in various roles of increasing responsibility at IDEX Corporation from September 2010 to April 2018, including Group Vice President Finance & IT for Fire and Safety, Group Vice President Finance & IT for BAND-IT, IDEX Optics & Photonics, and Micropump, as well as Vice President Finance & IT for BAND-IT, and Finance Manager Northeast. Prior to his time at IDEX Corp., Mr. Browers held several positions within General Electric Co.
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Here are the key risks to Cadre Holdings, Inc. (CDRE):
-
Dependence on Government Contracts and Public Sector Budgets
A substantial portion of Cadre Holdings' revenue is derived from contracts with U.S. federal, state, and local government agencies, as well as various foreign government bodies. This reliance exposes the company to significant risks associated with fluctuations in government spending, changes in procurement policies, and the potential loss of major, multi-year contracts. Recent financial results have highlighted "timing volatility in large government and law enforcement contracts," leading to "delivery delays" and "lumpy revenue." -
Intense Competition, Technological Disruption, and Product Obsolescence
Cadre operates in a highly specialized and competitive market, facing rivals such as Point Blank Enterprises, Armor Express, Blackhawk, and Avon Protection Systems. The business is vulnerable to rapid technological advancements or new product introductions that could render its existing product certifications and inventories obsolete. Specifically, a "sudden, significant breakthrough in lightweight, high-performance ballistic materials or a new, widely adopted threat round" would necessitate continuous and costly research and development investments to maintain competitiveness and market share. -
Product Liability and Regulatory Compliance Risks
Given the inherently risky nature of products such as body armor and explosive ordnance disposal equipment, Cadre Holdings is exposed to significant product liability and warranty claims. Furthermore, the company operates in a highly regulated industry with stringent government regulations across numerous jurisdictions. Non-compliance with these evolving regulations or changes in legal frameworks could result in substantial penalties, increased operational costs, or restrictions on its ability to conduct business.
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Addressable Market Sizes for Cadre's Main Products and Services
Cadre Holdings, Inc. (CDRE) operates in several key markets related to safety and survivability equipment for first responders and government agencies. The primary addressable markets for Cadre's main products and services include body armor, explosive ordnance disposal (EOD) equipment, and the broader police and law enforcement equipment market.Body Armor
* The global body armor market was valued at approximately USD 2.60 billion in 2024 and is projected to grow to USD 3.70 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 4.53% during the forecast period. Other estimates place the global market at USD 2,693.4 million in 2023, expected to reach USD 4,007.1 million by 2030 at a CAGR of 5.8%. * In North America, the U.S. body armor market was valued at USD 789 million in 2024 and is projected to reach approximately USD 1,140 million by 2034, growing at a CAGR of 3.74% from 2025 to 2034.Explosive Ordnance Disposal (EOD) Equipment
* The global explosive ordnance disposal equipment market, which includes bomb suits, remotely operated vehicles (ROVs) for bomb safety, and other specialized tools, was valued between USD 5.63 billion and USD 7.82 billion in 2024. This market is projected to reach between USD 7.92 billion and USD 11.05 billion by 2030-2032, with CAGRs ranging from 4.36% to 6.4%. North America leads this market, holding a 42% share.Police and Law Enforcement Equipment
* The global police and law enforcement equipment market, encompassing products like duty gear, communications gear, forensic products, firearms, and ammunition, was valued at USD 11,723.51 million (USD 11.72 billion) in 2025 and is expected to increase to USD 20,288.19 million (USD 20.29 billion) by 2032, growing at a CAGR of 8.2%. Another projection indicates the global market will reach USD 36.1 billion by 2030. * North America represented the largest share of the police and law enforcement equipment market, accounting for 41% in 2023 and a projected 35% share in 2024. * Specifically, the U.S. law enforcement personal protective equipment (PPE) market was estimated at USD 839.4 million in 2021 and is expected to expand at a CAGR of 5.0% from 2022 to 2030.AI Analysis | Feedback
Cadre Holdings, Inc. (CDRE) is anticipated to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, substantial contract wins and an increased backlog, organic growth across its core segments, disciplined pricing strategies, and continued international expansion.
Here are 3-5 expected drivers of future revenue growth:
* Strategic Acquisitions: Cadre Holdings has a consistent strategy of disciplined mergers and acquisitions (M&A) to expand its market reach and product offerings. The recent acquisitions, particularly TYR Tactical (closed in early 2026) and CARS Engineering, are expected to be significant contributors to revenue. TYR Tactical alone is projected to contribute approximately $100 million in revenue on a full-year basis in 2026. These acquisitions enhance Cadre's leadership and accelerate growth in specialized safety businesses.
* Increased Backlog and Major Contract Wins: The company has reported a nearly 50% year-over-year increase in its orders backlog, providing strong visibility for future revenue. Notable contract wins include a $50 million IDIQ (Indefinite Delivery, Indefinite Quantity) contract for the Blast Exposure Monitoring System (BEMO) with the U.S. Department of Defense, with shipments scheduled throughout 2026. Additionally, Cadre secured an $86 million Med-Eng blast seat program for General Dynamics. These multi-year contracts reinforce Cadre's position in critical safety markets and ensure long-term revenue streams.
* Organic Growth in Public Safety and Nuclear Segments: Cadre projects 3%-5% organic growth in both its Public Safety and Nuclear businesses for 2026. This growth is underpinned by rising global safety threats and resilient government spending on protection equipment in the law enforcement sector. In the nuclear safety segment, long-term demand is driven by policy and commercial tailwinds across environmental management, national security, and nuclear energy markets.
* Pricing Discipline: Cadre's financial guidance for 2026 incorporates a 1% price increase, net of material inflation. This indicates that strategic pricing adjustments are expected to contribute to overall revenue growth and improved gross margins.
* International Expansion: Acquisitions such as TYR Tactical are instrumental in Cadre's international growth strategy, as 66% of TYR's revenue is derived from international customers. This expands Cadre's global footprint and opens new opportunities in international and federal markets where its existing brands may not have a major foothold.
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Share Issuance
- Cadre Holdings, Inc. completed its initial public offering (IPO) in November 2021, issuing 6,900,000 shares of common stock at a price of $13.00 per share, including the full exercise of underwriters' option for additional shares, totaling approximately $89.7 million.
- Diluted earnings per share for fiscal year 2025 reflected earnings growth tempered by share dilution from equity awards.
Outbound Investments
- Cadre completed the acquisition of TYR Tactical, LLC on January 30, 2026, for a total consideration of $175 million, comprising $150 million in cash and $25 million in CDRE stock. This acquisition is expected to be immediately accretive to earnings and adjusted EBITDA margins.
- In April 2025, Cadre acquired multiple nuclear brands from Carr's Group PLC (Carr's Engineering Division) for approximately $91.5 million. This expanded Cadre's nuclear safety vertical, international footprint, and entry into automation, robotics, and nuclear medicine.
- The acquisition of TYR Tactical represents the sixth transaction completed by Cadre since its IPO in 2021, highlighting a disciplined M&A strategy.
Capital Expenditures
- Capital expenditures totaled $7.0 million for the year ended December 31, 2025, an increase from $5.8 million for the year ended December 31, 2024.
- Cadre anticipates capital expenditures to be in the range of $10 million to $14 million for the full year 2026, primarily to support operational improvements and capacity expansion.
Peer Outperformance in Aerospace & Defense
nullShare of Aerospace & Defense constituents that CDRE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
30%
of 69 industry peers · -19.6% return
3Y
25%
of 59 industry peers · 4.9% return
5Y
—
insufficient peer history
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Median price return by industry across the Industrials sector, ranked by 5Y. Aerospace & Defense is CDRE's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 8.3% | 99.4% | 179.9% | CDNL 2342% · FIX 2211% · STRL 2120% |
| Marine Transportation | 5 | 84.2% | 67.1% | 173.1% | HOS 45058% · MATX 201% · SFL 173% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 9.9% | 53.8% | 127.5% | CAT 336% · ALSN 261% · WAB 228% |
| Aerospace & Defense ← | 54 | -3.6% | 71.1% | 75.2% | ATI 996% · FTAI 988% · HWM 639% |
| Rail Transportation | 7 | 29.7% | 60.6% | 49.8% | FSTR 142% · CSX 69% · UNP 57% |
| Trading Companies & Distributors | 19 | 5.8% | 37.3% | 49.5% | DXPE 565% · AIT 296% · WCC 208% |
| Industrial Machinery & Supplies & Components | 72 | 8.4% | 45.6% | 40.4% | CRS 1265% · PSIX 1083% · EROC 641% |
| Diversified Support Services | 33 | 12.8% | 29.9% | 32.6% | LIME 3393% · TH 486% · WLFC 371% |
| Cargo Ground Transportation | 16 | 35.2% | -0.7% | 30.1% | XPO 247% · R 243% · CVLG 206% |
| Passenger Ground Transportation | 3 | -24.8% | 43.1% | 27.2% | UBER 78% · CAR 27% · LYFT -70% |
| Electrical Components & Equipment | 41 | 6.3% | 55.7% | 20.2% | POWL 2370% · BE 1335% · VRT 923% |
| Building Products | 33 | -13.4% | 0.9% | 19.2% | LMB 675% · GFF 372% · PPIH 288% |
| Industrial Conglomerates | 17 | 8.1% | 2.3% | 5.5% | RCMT 471% · CSW 142% · HHS 72% |
| Environmental & Facilities Services | 29 | -10.3% | 23.4% | -4.9% | CECO 952% · GEO 358% · ADUR 353% |
| Agricultural & Farm Machinery | 17 | 8.0% | 4.1% | -7.3% | BLBD 193% · DE 110% · GENC 52% |
| Research & Consulting Services | 13 | -13.5% | -24.6% | -9.1% | HURN 203% · CRAI 92% · GRNQ 55% |
| Data Processing & Outsourced Services | 6 | -33.0% | -15.3% | -24.9% | EXLS 45% · BR 8% · G -23% |
| Passenger Airlines | 11 | 2.9% | 8.5% | -29.7% | LTM 3105% · UAL 142% · DAL 105% |
| Office Services & Supplies | 9 | 9.9% | 23.8% | -33.5% | PBI 202% · TILE 142% · HNI 47% |
| Human Resource & Employment Services | 22 | 5.6% | -19.3% | -36.6% | BBSI 91% · ADP 53% · PAYX 25% |
| Air Freight & Logistics | 12 | -11.6% | -20.4% | -37.7% | CHRW 98% · FDX 65% · EXPD 62% |
| Security & Alarm Services | 10 | -22.4% | 14.2% | -44.5% | CIX 153% · MG 117% · NL 67% |
| Airport Services | 3 | -72.3% | -79.5% | -58.3% | JOBY -33% · ASLE -58% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is 18.0% Fall In Cadre (CDRE) Stock A Buying Opportunity? | 04/30/2026 | |
| Cadre Earnings Notes | 12/16/2025 | |
| How Low Can Cadre Stock Really Go? | 10/17/2025 | |
| Why Cadre Stock Moved: CDRE Stock Has Gained 114% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| CDRE Dip Buy Analysis | 07/10/2025 | |
| Should You Buy Cadre Stock? | 05/16/2025 | |
| Cadre (CDRE) Valuation Ratios Comparison | 05/15/2025 | |
| Cadre (CDRE) Operating Cash Flow Comparison | 02/17/2025 | |
| Cadre (CDRE) Net Income Comparison | 02/15/2025 | |
| Cadre (CDRE) Operating Income Comparison | 02/14/2025 | |
| ARTICLES | ||
| Time To Buy The Dip In Cadre Stock? | 04/30/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 89.09 |
| Mkt Cap | 4.7 |
| Rev LTM | 1,946 |
| Op Inc LTM | 76 |
| FCF LTM | 133 |
| FCF 3Y Avg | 171 |
| CFO LTM | 266 |
| CFO 3Y Avg | 270 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 19.7% |
| Rev Chg 3Y Avg | 13.7% |
| Rev Chg Q | 21.7% |
| QoQ Delta Rev Chg LTM | 5.0% |
| Op Inc Chg LTM | 10.2% |
| Op Inc Chg 3Y Avg | 12.8% |
| Op Mgn LTM | 11.1% |
| Op Mgn 3Y Avg | 11.9% |
| QoQ Delta Op Mgn LTM | 0.9% |
| CFO/Rev LTM | 12.9% |
| CFO/Rev 3Y Avg | 11.6% |
| FCF/Rev LTM | 11.4% |
| FCF/Rev 3Y Avg | 8.9% |
Price Behavior
Price Behavior
| Market Price | $26.10 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 11/04/2021 | |
| Distance from 52W High | -43.0% | |
| 50 Days | 200 Days | |
| DMA Price | $30.73 | $34.42 |
| DMA Trend | down | up |
| Distance from DMA | -15.1% | -24.2% |
| 3M | 1YR | |
| Volatility | 50.8% | 47.9% |
| Downside Capture | 93.91 | 199.21 |
| Upside Capture | 43.09 | 138.62 |
| Correlation (SPY) | 20.9% | 37.1% |
CDRE Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.52 | 0.77 | 0.61 | 1.51 | 1.35 | 0.93 |
| Up Beta | 0.42 | -0.50 | -0.34 | 0.94 | 1.09 | 0.83 |
| Down Beta | 4.70 | 4.76 | 2.19 | 1.13 | 0.94 | 0.81 |
| Up Capture | -144% | 41% | 21% | 128% | 174% | 89% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 25 | 33 | 64 | 127 | 397 |
| Down Capture | -171% | 16% | 50% | 203% | 144% | 103% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 17 | 31 | 63 | 122 | 349 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | -20.0% | 47.8% | -0.32 | - |
| Sector ETF (XLI) | 12.5% | 17.2% | 0.52 | 46.5% |
| Equity (SPY) | 16.6% | 12.9% | 0.92 | 36.8% |
| Gold (GLD) | 17.4% | 29.3% | 0.55 | 16.1% |
| Commodities (DBC) | 45.8% | 20.7% | 1.72 | -25.1% |
| Real Estate (VNQ) | 5.7% | 13.5% | 0.16 | 22.0% |
| Bitcoin (BTCUSD) | -34.9% | 43.9% | -0.85 | 17.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | 12.7% | 46.1% | 0.41 | - |
| Sector ETF (XLI) | 12.2% | 17.6% | 0.53 | 37.6% |
| Equity (SPY) | 12.6% | 17.2% | 0.56 | 32.8% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 6.0% |
| Commodities (DBC) | 11.7% | 19.6% | 0.47 | -2.9% |
| Real Estate (VNQ) | 1.0% | 18.8% | -0.05 | 24.2% |
| Bitcoin (BTCUSD) | 10.4% | 52.5% | 0.38 | 18.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | 6.1% | 46.1% | 0.41 | - |
| Sector ETF (XLI) | 13.0% | 20.1% | 0.57 | 37.6% |
| Equity (SPY) | 15.1% | 18.0% | 0.71 | 32.8% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 6.0% |
| Commodities (DBC) | 8.5% | 18.1% | 0.39 | -2.9% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.17 | 24.2% |
| Bitcoin (BTCUSD) | 62.0% | 66.1% | 1.02 | 18.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 12.9% | 8.7% | -3.7% |
| 5/11/2026 | -9.5% | -6.7% | -5.8% |
| 3/10/2026 | -13.5% | -18.9% | -17.9% |
| 11/4/2025 | 6.1% | 2.6% | 0.8% |
| 8/5/2025 | -15.9% | -13.3% | -7.0% |
| 5/6/2025 | 19.6% | 21.6% | 14.7% |
| 3/11/2025 | 5.1% | -3.6% | -9.0% |
| 11/6/2024 | -8.5% | -10.3% | -4.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 8 |
| # Negative | 8 | 8 | 12 |
| Median Positive | 4.9% | 4.9% | 12.2% |
| Median Negative | -9.0% | -8.7% | -6.0% |
| Max Positive | 19.6% | 21.6% | 23.6% |
| Max Negative | -15.9% | -18.9% | -22.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | 12.9% | 8.7% | -3.7% |
| 5/11/2026 | -9.5% | -6.7% | -5.8% |
| 3/10/2026 | -13.5% | -18.9% | -17.9% |
| 11/4/2025 | 6.1% | 2.6% | 0.8% |
| 8/5/2025 | -15.9% | -13.3% | -7.0% |
| 5/6/2025 | 19.6% | 21.6% | 14.7% |
| 3/11/2025 | 5.1% | -3.6% | -9.0% |
| 11/6/2024 | -8.5% | -10.3% | -4.4% |
| 8/9/2024 | 0.4% | 2.5% | -0.2% |
| 5/7/2024 | -11.6% | -11.4% | -6.1% |
| 3/5/2024 | 0.3% | 6.0% | -2.9% |
| 11/8/2023 | 7.9% | 13.2% | 13.3% |
| 8/8/2023 | 9.6% | 7.0% | 11.1% |
| 5/9/2023 | 1.7% | 3.2% | -4.5% |
| 3/15/2023 | -3.7% | -5.2% | 13.6% |
| 11/10/2022 | 4.6% | -7.2% | -22.5% |
| 8/11/2022 | -5.0% | 0.5% | 1.0% |
| 5/12/2022 | 1.9% | 3.7% | -17.4% |
| 3/10/2022 | -2.7% | 10.4% | 3.9% |
| 12/2/2021 | 0.0% | 1.8% | 23.6% |
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 8 |
| # Negative | 8 | 8 | 12 |
| Median Positive | 4.9% | 4.9% | 12.2% |
| Median Negative | -9.0% | -8.7% | -6.0% |
| Max Positive | 19.6% | 21.6% | 23.6% |
| Max Negative | -15.9% | -18.9% | -22.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/11/2022 | 10-K |
| 09/30/2021 | 12/02/2021 | 10-Q |
| 06/30/2021 | 11/05/2021 | 424B4 |
| 03/31/2021 | 08/03/2021 | S-1/A |
Recent Forward Guidance
Updated 8/6/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 749.00 Mil | 759.00 Mil | 769.00 Mil | 1.6% | Raised | Guidance: 747.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 139.00 Mil | 141.50 Mil | 144.00 Mil | 2.2% | Raised | Guidance: 138.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 10.00 Mil | 12.00 Mil | 14.00 Mil | 0 | Affirmed | Guidance: 12.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 736.00 Mil | 747.00 Mil | 758.00 Mil | 0 | Affirmed | Guidance: 747.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 136.00 Mil | 138.50 Mil | 141.00 Mil | 0 | Affirmed | Guidance: 138.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 10.00 Mil | 12.00 Mil | 14.00 Mil | 0 | Affirmed | Guidance: 12.00 Mil for 2026 | |
Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | Reported | 736.00 Mil | 747.00 Mil | 758.00 Mil | 7370.0% | Higher New | Actual: 10.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 136.00 Mil | 138.50 Mil | 141.00 Mil | 21.5% | Higher New | Actual: 114.00 Mil for 2025 | |
| 2026 Capital Expenditures | Reported | 10.00 Mil | 12.00 Mil | 14.00 Mil | 60.0% | Higher New | Actual: 7.50 Mil for 2025 | |
Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 624.00 Mil | 627.00 Mil | 630.00 Mil | 0 | Affirmed | Guidance: 627.00 Mil for 2025 | |
| 2025 Adjusted EBITDA | Reported | 112.00 Mil | 114.00 Mil | 116.00 Mil | 0 | Affirmed | Guidance: 114.00 Mil for 2025 | |
| 2025 Capital Expenditures | Reported | 7.00 Mil | 7.50 Mil | 8.00 Mil | 0 | Affirmed | Guidance: 7.50 Mil for 2025 | |
| 2026 Revenue | Reported | 10.00 Mil | ||||||
Insider Activity
Updated 8/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 31.87 | 100,000 | 3,187,045 | 300,125,242 | Form |
| 2 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.20 | 65,431 | 2,172,309 | 317,113,386 | Form |
| 3 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.65 | 34,569 | 1,163,247 | 320,248,362 | Form |
| 4 | Williams, Brad | PRESIDENT | Direct | Sell | 8192026 | 33.24 | 88,742 | 2,949,898 | 2,163,376 | Form |
| 5 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6232026 | 27.43 | 50,000 | 1,371,500 | 263,795,380 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 31.87 | 100,000 | 3,187,045 | 300,125,242 | Form |
| 2 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.20 | 65,431 | 2,172,309 | 317,113,386 | Form |
| 3 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.65 | 34,569 | 1,163,247 | 320,248,362 | Form |
| 4 | Williams, Brad | PRESIDENT | Direct | Sell | 8192026 | 33.24 | 88,742 | 2,949,898 | 2,163,376 | Form |
| 5 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6232026 | 27.43 | 50,000 | 1,371,500 | 263,795,380 | Form |
| 6 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6232026 | 27.86 | 25,000 | 696,500 | 269,323,707 | Form |
| 7 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6172026 | 28.68 | 25,000 | 717,000 | 277,967,679 | Form |
| 8 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6172026 | 28.19 | 100,000 | 2,819,000 | 273,923,329 | Form |
| 9 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6172026 | 30.03 | 100,000 | 3,003,000 | 294,805,681 | Form |
| 10 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 3242026 | 31.93 | 100,000 | 3,193,000 | 316,651,055 | Form |
| 11 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 3242026 | 31.40 | 100,000 | 3,140,000 | 314,535,025 | Form |
| 12 | Browers, Blaine | CHIEF FINANCIAL OFFICER | Direct | Sell | 12162025 | 43.79 | 20,435 | 894,849 | 2,764,988 | Form |
| 13 | Williams, Brad | PRESIDENT | Direct | Sell | 12122025 | 42.99 | 24,000 | 1,031,760 | 2,352,370 | Form |
| 14 | Kanders, Warren B | CEO AND CHAIRMAN | Direct | Sell | 11192025 | 39.00 | 1,257,038 | 49,024,482 | 60,294 | Form |
| 15 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 11192025 | 39.00 | 86,903 | 3,389,217 | 395,042,271 | Form |
| 16 | Williams, Brad | PRESIDENT | Direct | Sell | 11172025 | 43.62 | 27,370 | 1,193,879 | 3,433,723 | Form |
| 17 | Williams, Brad | PRESIDENT | Direct | Sell | 10282025 | 43.00 | 4,132 | 177,676 | 4,561,827 | Form |
| 18 | Williams, Brad | PRESIDENT | Direct | Sell | 10162025 | 40.00 | 4,132 | 165,280 | 4,408,840 | Form |
| 19 | Williams, Brad | PRESIDENT | Direct | Sell | 9252025 | 37.00 | 4,132 | 152,884 | 4,231,061 | Form |
Investor Activity (13F)
Updated Sep 18, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
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External Quote Links
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| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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