General Federal Contracts — October 15, 2026

Blue Origin's firm-fixed-price VADR delivery order obligates $99,569,229 against a $5,000,000,000 base-plus-options value, with only $18,475,002 outlayed. Realized revenue depends heavily on future incremental funding, and Blue Origin is not a publicly traded equity in this data.

Peraton Inc. (parent Veritas Capital Fund Management) received a labor-hours IT security call order from the FBI under a competed SAP, with a base-plus-options value of $166,706,993 offering substantial follow-on potential. Peraton also holds a $58,992,766 CMS delivery order and an $11,733,341 OCC BPA call in this set, indicating broad federal footprint.

SAIC received a $76,606,535 Federal Highway Administration IT infrastructure task order (base-plus-options $116,587,530) and a $32,163,343 DOT end-user support order, plus a $10,189,364 Treasury SPS O&M order. Heavy subaward pass-through (about $41.8M on the FHWA order) limits retained economics.

ECS Federal (parent ASGN Inc.) has only $635,018 outlayed against a $68,610,159 obligation on a 2012 EPA managed desktop order whose end dates fall in 2016-2017, indicating the record is stale or the contract is effectively dormant. This weakens any read-through to ASGN's current government revenue.

Amentum Services (parent Amentum Holdings) has a cost-plus-fixed-fee NASA Ames delivery order of $12,849,729 with about 80% outlayed and a 2026-11-30 end date, with no options beyond that date. Renewal or recompete activity on FILMSS 2 is a near-term catalyst to monitor.

General Dynamics Information Technology received a cost-plus-fixed-fee FAA delivery order (2026-09-23 award) to implement the FMDS system replacing TFMS, with $22,323,317 obligated and no competitive set-aside. The award supports GD's federal air-traffic modernization franchise, though the data does not reveal its share of GD revenue.

IBM received a $12,451,263 time-and-materials GSA order for LSAM and FPDS operations with $6,950,261 outlayed, and the current end date is 2026-10-21 with a potential end of 2027-01-19. The contract is small relative to IBM's scale and is subject to follow-on or recompete risk.

Dell Federal Systems L.P. received a $13,412,654 firm-fixed-price EPA BPA call for a Microsoft Enterprise License Agreement with $13,380,268 already outlayed, pointing to near-full execution and a three-year performance window to 2029-04-30. Parent Francisco Partners is a private equity firm, so the public read-through is limited.

Magellan Federal (parent Magellan Health) holds a $10,409,044 Department of the Interior delivery order whose stated scope reads 'DOD ARMY ASACS PROGRAM SUPPORT', which is inconsistent with the awarding agency. This data-integrity issue should be resolved before any read-through to Magellan Health.

Research Triangle Institute (nonprofit) received a $21,628,322 time-and-materials HHS/CMS delivery order for Medicare Shared Savings Program ACO analysis, with $0 outlayed and a one-year term. Being a nonprofit, RTI offers no public equity exposure, so the signal informs sector demand for value-based program analytics rather than a tradable thesis.

Most large awards carry $0 or very low outlays against headline obligations: Blue Origin NASA ($99.6M, $18.5M outlayed), Peraton CMS ($59.0M, $34.8M), NAPC & HSCC VA ($10.7M, $0), and multiple $0-outlay VA construction awards. Headline values overstate near-term realized revenue.

Heavy subaward pass-through reduces prime retained revenue: Peraton's CMS order subawards $47.2M (about 80% of obligation), SAIC's FHWA order $41.8M (about 55%), Kearney & Co's CBP order $7.1M (about 65%), and Amentum's NASA Ames order about one-third.

Single-day snapshot prevents any multi-period budget trend conclusion; several awards run only one year (Dell EPA, Advanced Technologies DOJ, Digital Management HHS) and carry annual-renewal exposure to FY2027 appropriations.

Set-aside awards to small and SDVOSB firms dominate the VA construction pool (Blue Cord, MDM Construction, ECKO JV, NAPC & HSCC, V. Lopez, Ironclad), signaling a protected channel but also a crowded field of small private contractors with limited public investability.

Data-integrity anomalies require verification before use: Magellan Federal's DOI order carries a DOD ARMY scope; ECS Federal's 2012 EPA order shows stale end dates; MSK Construction shows $0 outlays on a 2017 award; General Dynamics IT's TSA order is in CLOSEOUT with $0 outlays.

Peraton Inc. and SAIC both show large multi-year vehicles with ceilings far above current obligation, offering follow-on growth if options are exercised.

8(a) sole-source incumbency at PCI Aviation (GSA USMC KC-130 maintenance, $19.7M obligation, 75% outlayed) provides policy-protected revenue, though sole-source status cannot be assumed to renew.

Small business and SDVOSB set-aside awards are numerous in this set (Ironclad, MDM, Blue Cord, ECKO JV, V. Lopez, NAPC & HSCC, CYKOR), giving protected competition pools, though most are private companies.

NASA awards cluster around space launch, R&D, and lunar instrumentation (Blue Origin, Impulse Space, Arizona State University AIRES, Caltech JPL programs), signaling continued civilian space activity, though most recipients are nonprofits or private.

General Dynamics IT's FAA FMDS hardware order ($22.3M) and Dell's Microsoft ELA BPA ($13.4M) point to continued federal modernization spend in air traffic systems and enterprise software.

NASA awards in this set total well over $300M across JPL/Caltech, Blue Origin, Impulse Space, ASU, Amentum, and others, spanning launch, planetary science, and lunar instrumentation. Most recipients are nonprofits or private, so the theme's investable reach is limited to primes like Amentum and launch providers.

Roughly a dozen VA construction and renovation awards in the $10M to $22M range go overwhelmingly to SDVOSB and small firms under set-asides, with most showing $0 outlays at award. This reflects steady VA facilities spend routed through protected pools rather than large public contractors.

IT operations, cybersecurity, and application support orders dominate the large-prime awards (Peraton, SAIC, IBM, General Dynamics IT, Deloitte, Dell), often on labor-hours or time-and-materials vehicles with heavy subaward pass-through.

Multiple HHS/CMS awards support Medicare, Medicaid/CHIP, and Part B drug programs (Peraton $59.0M, RTI $21.6M, CORBALT $10.2M, Index Analytics $13.6M, Digital Management $9.3M, Affigent $9.7M), indicating continuing program-IT and analytics demand.

{"entity" => "Peraton Inc. / Veritas Capital", "reason" => "Three awards in this set total roughly $90M obligated across CMS ($59.0M), FBI ($19.9M), and OCC ($11.7M), with large ceilings and heavy subaward flow.", "trigger" => "Option exercise on FBI BPA ceiling of $166.7M and CMS modification to $100.7M ceiling"}

{"entity" => "Science Applications International Corporation (SAIC)", "reason" => "Three awards total about $119M obligated, with the FHWA order's 55% subaward pass-through limiting retained margin.", "trigger" => "Incremental funding after 10/31/2024 on FHWA order and FHWA follow-on activity"}

{"entity" => "Blue Origin, LLC (private)", "reason" => "A $99.6M obligation sits against a $5.0B ceiling with only 19% outlayed, making the award highly dependent on future funding.", "trigger" => "Incremental obligations against the $5.0B VADR ceiling and outlay progression"}

{"entity" => "Amentum Holdings Inc.", "reason" => "FILMSS 2 NASA Ames order obligates $12.8M with about 80% outlayed and ends 2026-11-30 with no options.", "trigger" => "Renewal or recompete notice before 2026-11-30 end date"}

{"entity" => "General Dynamics Corp", "reason" => "The FAA FMDS hardware order ($22.3M, 2026-09-23 award) is a new modernization win, though its share of GD revenue is not disclosed.", "trigger" => "FAA FMDS milestone execution and outlay progression from $0"}

{"entity" => "IBM (International Business Machines)", "reason" => "GSA LSAM/FPDS order is 47% outlayed with a 2026-10-21 current end date and a potential end in early 2027.", "trigger" => "GSA follow-on or option exercise before 2026-10-21"}

{"entity" => "Federal IT services sector (ETF proxy)", "reason" => "Broad IT services and cybersecurity labor-hours awards recur across this digest, with the largest signal in DOJ/FBI and HHS/CMS vehicles.", "trigger" => "FY2027 appropriations and any continuing resolution affecting October-December awards"}