Significant Contract Modifications ($10M+) — May 09, 2026

Regents of the University of California awarded $35.3B from Department of Energy (1978-09-30 origin), highest materiality (8/10) with bullish strength 7/10, signaling unmatched durability in national lab operations.

Los Alamos National Security LLC received $27.4B from Department of Energy (2005-12-21), second-highest materiality (8/10) bullish at 7/10 strength, underscoring DOE lab management moat.

General Dynamics Information Technology (General Dynamics Corp subsidiary) awarded $187M total obligation (up to $306M options) cost-plus-fixed-fee from HHS CMS, with $108M outlayed and low pricing risk.

HII Mission Technologies Corp (Huntington Ingalls Industries subsidiary) secured $56M obligated (up to $198M options) time-and-materials GSA delivery order for F-16 MTT TSSC services through 2026.

Parsons Government Services Inc. (Parsons Corp subsidiary) awarded $47M cost-plus-fixed-fee GSA order (up to $77M) for C4 development through 2027, low execution risk.

S.J. Louis Construction's two DOI Bureau of Reclamation awards total $151M ($80M + $72M), both nearly fully outlayed ($79M + $71M) under firm-fixed-price with high pricing risk through 2026.

Accenture Federal Services LLC holds $61M GSA DNS ($133M ceiling) + $48M Commerce USPTO ($87M ceiling) obligations, time-and-materials/labor-hours with medium risk and multi-year visibility.

Firm-fixed-price structures dominate smaller awards (e.g., MINACT $98M DOL Job Corps, LPC Contractors $81M DOT highway repair, S.J. Louis $151M DOI water), with high pricing risk and uneven outlays.

Low/no outlays signal delayed execution in new awards: NETCENTRIC $82M GSA (0 outlayed), HII $56M GSA (0), AMES $62M DOI (0), despite high ceilings.

97% value in two DOE lab managers (UC Regents $35B, Los Alamos $27B) exposes portfolio to DOE R&D budget volatility absent NDAA protections.

HII Mission Technologies' $56M GSA F-16 order with $198M options through 2029 offers multi-year upside for defense-adjacent civilian work.

Four Seasons Environmental's $51M HHS CDC facilities order with $252M ceiling through 2030 via firm-fixed-price options.

8(a)/SDVOSB/HUBZone wins like Alutiiq Solutions $81M State Dept. ($93M ceiling), NETCENTRIC $82M GSA cybersecurity provide protest-resistant revenue.

$62.7B (97%) in two modifications to Regents of the University of California ($35.3B) and Los Alamos National Security LLC ($27.4B), long-term (1978/2005 origins) with high materiality.

S.J. Louis Construction's dual $151M awards ($80M + $72M NGWSP) + AMES $62M pumping plant, all firm-fixed-price/full competition, nearly fully outlayed with ends through 2028.

GSA awards total $300M+ incl. NETCENTRIC $82M cybersecurity, Accenture $61M DNS, Parsons $47M C4, HII $56M F-16—multi-year with high option ceilings.

{"entity"=>"General Dynamics Corp (GD)", "reason"=>"$187M HHS CMS engineering with $108M outlayed (58%) and $119M options to 2029; cost-plus low risk.", "trigger"=>"option exercises post-2027 current end"}

{"entity"=>"Huntington Ingalls Industries (HII)", "reason"=>"$56M GSA F-16 services (0 outlayed) with $142M options to 2029.", "trigger"=>"outlay progression from $0 post-Mar 2025 start"}

{"entity"=>"Parsons Corporation (PSN)", "reason"=>"$47M GSA C4 development (minimal outlay) up to $77M to 2028.", "trigger"=>"option exercises to 2028 potential end"}

{"entity"=>"S.J. Louis Construction, Inc.", "reason"=>"$151M DOI water projects nearly fully outlayed under firm-fixed-price.", "trigger"=>"final outlays and 2026 performance ends"}