Welcome to Issue #19 of The Obligated. Every week I monitor USASpending.gov, congressional stock disclosures, and SEC insider filings to find the 3 signals hiding in plain sight. The government publishes billions of dollars of market-moving information every day. Almost nobody reads it.
🟢 SIGNAL #1 — FREE THIS WEEK $AMTM Amentum Holdings, Inc. · NYSE · Market cap ≈ $4.4 billion WHAT HAPPENED On September 28, 2026, the Department of War posted a $572,358,987 cost-plus-incentive-fee contract awarded to Amentum Technology Inc. (a unit of NYSE-listed Amentum Holdings) for the third iteration of the Cheyenne Mountain Complex Integrated Tactical Warning/Attack Assessment and Space Support Contract — the system that runs NORAD's early-warning operations at Peterson Space Force Base, Colorado. The award runs through September 2033. Trade outlets Washington Technology and GovConWire covered it within a day; as of this writing it has not been picked up by mainstream financial press.
WHY IT MATTERS The contract is worth roughly 13% of Amentum's entire market capitalization — awarded as a single, competed contract that beat six other bidders. A seven-year period of performance means this isn't a one-time bump; it layers a recurring, multi-year revenue stream onto Amentum's existing federal backlog, in one of the most sensitive, hard-to-recompete facilities in the country. WHAT TO WATCH Only $15.6 million of the contract ceiling was obligated at the time of award. Watch Amentum's next earnings call (expected mid-November) for management commentary on backlog growth tied to this contract, and watch the pace of follow-on task-order funding over the next 90 days as an early read on how quickly this converts to revenue.
🟢 SIGNAL #2 — PAID SUBSCRIBERS ONLY $RTX RTX Corporation · NYSE · Market cap ≈ $249 billion WHAT HAPPENED On September 28, 2026, War.gov posted a not-to-exceed $20,699,334,581 multi-year contract to RTX's Raytheon business, nearly doubling planned production of a widely used air-to-air missile and representing the largest award of its kind on record. Buried in the coverage is a funding contingency that...
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SIGNAL #3 — PAID SUBSCRIBERS ONLY $DRS Leonardo DRS, Inc. · NASDAQ · Market cap ≈ $9.8 billion WHAT HAPPENED On September 29, 2026, War.gov quietly posted a $500,000,000 firm-fixed-price award to a Leonardo DRS subsidiary for counter-drone detection systems, part of a Pentagon task force's push to shield domestic facilities from drone threats. What sets this one apart from DRS's prior contract wins is...
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🟢 WEEKLY RECOMPETE WATCHLIST — PAID SUBSCRIBERS ONLY 5 contracts expiring in the next 90 days. These companies are about to win or lose revenue — before any press release. 🔒 $GD — Electric Boat SSN 792 submarine long-lead-time material contract (Navy) — Oct 2026 🔒 $NOC — E-2D Advanced Hawkeye aircraft support contract (Navy) — Dec 2026 🔒 $VVX — T-45 Goshawk trainer aircraft maintenance contract (Navy) — Dec 2026 🔒 $LMT — LRIP 9 low-rate initial production contract (Navy) — Dec 2026 🔒 $BA — UH-1N replacement helicopter contract (Air Force) — Dec 2026
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⚠️ Disclaimer The Obligated is not a registered investment adviser, broker-dealer, or financial planner. Nothing in this newsletter constitutes personalized financial, legal, or tax advice. All data is sourced from publicly available government records including USASpending.gov, War.gov, SEC EDGAR, Capitol Trades STOCK Act disclosures, and the Senate Lobbying Disclosure database. We do not recommend buying or selling any security. All investment strategies involve risk of loss. You are solely responsible for your own investment decisions. Consult a licensed financial professional before acting on any information provided. The Obligated · theobligated.com · Issue #19 · October 5, 202