🟢 SIGNAL #1 — FREE THIS WEEK $LMT Lockheed Martin Corp.
NYSE · Market Cap: $141.4B WHAT HAPPENED On June 12, 2026, the U.S. Navy awarded Lockheed Martin Corp. a $2.293 billion cost-plus-incentivefee indefinite-delivery/indefinite-quantity contract to stand up new F-35 operational sites, provide interim contractor support, and run reliability and fleet management activities for domestic and allied F-35 fleets — work expected to run through December 2028. The announcement posted to War.gov at 5 p.m. that day, as it always does. No mainstream financial outlet covered it before market close. Two days earlier, on June 11, the Air Force separately handed Lockheed Martin's space division a $514 million modification for GPS Space Vehicles 23 and 24. And on June 9, a further $153.9 million in F-35 longlead components for a foreign military customer was added. Total new obligations across those four business days: just under $3 billion. WHY IT MATTERS The $2.293 billion contract is an IDIQ vehicle — meaning it is a ceiling, not a firm order, and task orders will be issued over five years. But it locks Lockheed Martin as the exclusive provider of F-35 sustainment services across new operational sites, which compounds the recurring revenue built into a program with a 194-billion-dollar backlog and customers in 20 nations. The GPS satellite modification covers production, not development, meaning those funds are booked revenue. Taken together, this single week's contract activity represents roughly 2.1% of Lockheed Martin's entire market capitalization — added to a revenue pipeline that already runs through the decade. WHAT TO WATCH Monitor Lockheed Martin's Q2 2026 earnings call (expected mid-July) for any upward revision to its backlog figure and F-35 sustainment margin commentary. A backlog number north of $196 billion or specific mention of new site activations under this IDIQ would confirm the contract is being executed faster than the baseline schedule. Source: War.gov, Contracts for June 9, 11 and 12, 2026 THE OBLIGATED Issue #3 · June 15, 2026 The Obligated · theobligated.com · Not investment advice. See disclaimer.
🟡 SIGNAL #2 — PAID SUBSCRIBERS ONLY $RTX RTX Corporation (Pratt & Whitney) · NYSE · Market Cap: $247.2B WHAT HAPPENED On June 10, the Navy issued a $35.7 million modification to RTX's Pratt & Whitney unit to procure longlead materials for Lot 20 F135 propulsion systems — covering 138 aircraft destined for the Air Force, Marine Corps, Navy, and foreign military customers. This follows the $6.6 billion Lots 18-19 definitization awarded in March 2026. What this sequence of contracts reveals about Pratt & Whitney's engine production ramp — and why it connects directly to Lockheed Martin's new $2.293 billion sustainment IDIQ — is... [ Upgrade to read — $19/mo or $149/yr at theobligated.com ] Source: War.gov, Contracts for June 10, 2026
🔴 SIGNAL #3 — PAID SUBSCRIBERS ONLY $NOC Northrop Grumman Corp.
NYSE · Market Cap: $95.7B WHAT HAPPENED On June 10, 2026, the Army awarded Northrop Grumman a $30.8 million Foreign Military Sales contract to sustain Poland's WISLA Integrated Air and Missile Defense Battle Command System — a program Poland is expanding rapidly under its historic $4% of GDP defense spending pledge. A second contract the following day added $14.2 million in F-16 radar work. The FMS pattern here points to something larger that retail investors tracking Northrop's headline revenue number are almost certainly missing: the $78 million cumulative WISLA contract value is just the first... [ Upgrade to read — $19/mo or $149/yr at theobligated.com ] Source: War.gov, Contracts for June 10 and 11, 2026 📋 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. 🔒 $SAIC — Navy IT modernization bridge contract, Naval Information Warfare Center Pacific — option period 3 of 4 up for decision — August 2026 THE OBLIGATED Issue #3 · June 15, 2026 The Obligated · theobligated.com · Not investment advice. See disclaimer. Page 3 🔒 $CACI — DLA logistics information systems support — multi-year IDIQ annual option exercise window — August 2026 🔒 $L3H — Air Force electronic warfare system support, Eglin AFB — base contract expiry, sole source renewal expected — August 2026 🔒 $GD — General Dynamics NASSCO ship repair IDIQ — annual ordering period renewal, USS Gerald R. Ford follow-on in queue — September 2026 🔒 $RTX — Pratt & Whitney TF33 engine depot maintenance, Tinker AFB — sole source, 5-year contract expiry — September 2026 [ Upgrade to unlock — $19/mo or $149/yr at theobligated.com ] ⚠️ 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 #3 · June 15, 2026