What happened
According to a filing with the Securities and Exchange Commission dated Nov. 14, 2025, SEGRA Capital Management, LLC established a new stake in Amentum (AMTM +0.54%), acquiring 417,025 shares. The estimated value of the position was $9.99 million at the end of the third quarter.
What else to know
- This is a new position, representing 11.55% of SEGRA Capital Management, LLC’s 13F assets under management.
- The filing indicates the fund held four major reportable positions after the trade.
- Top holdings as of this writing:
- NYSEMKT: URG: $47.01 million (19% of AUM)
- NYSE: NXE: $29.26 million (11.83% of AUM)
- NYSE: AMTM: $9.99 million (4.04% of AUM)
- NYSE: VST: $195,920 (0.08% of AUM)
- As of Nov. 13, 2025, shares were priced at $22.16, down 25.21% over the past year, lagging the S&P 500 index by 41.66 percentage points. Amentum stock, however, has rebounded dramatically since and made up for all of those losses, and some.
- The fund is undergoing a significant AUM reduction.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close Dec. 29, 2025) | $29.20 |
| Market Capitalization | $7.1 billion |
| Revenue (TTM) | $14.39 billion |
| Net Income (TTM) | $66 million |
Company Snapshot
- Amentum provides mission-critical, technology-driven services, including test and training solutions for missile defense, IT and engineering for defense and space clients, cyber training, and advanced communication systems.
- It operates a services-based business model, generating revenue primarily through government and commercial contracts for technical consulting, operations, and specialized training.
- Amentum serves U.S. defense, intelligence, national security agencies, and energy sector clients as primary customers.
Amentum is a leading provider of technical and mission support services to government and commercial clients, with a focus on the defense, intelligence, and energy sectors. The company leverages its scale and expertise in critical mission solutions and cyber intelligence to address complex operational challenges. Its diversified contract portfolio and established customer relationships position it as a key partner for national security and infrastructure projects.
Foolish take
SEGRA Capital appears to have made a smart move by buying Amentum shares in the third quarter. The stock has jumped 28% over the past three months and is now up almost 40% in 2025.
NYSE: AMTM
Key Data Points
Amentum went public only in September 2024, but it is a defense powerhouse. Amentum doesn't manufacture military equipment, but its expertise in handling complex national security challenges, such as nuclear operations, has driven the company to new heights.
Amentum generated $14.4 billion in revenue in the fiscal year ended Oct. 3, ended the year with a backlog of $47 billion, and continues to win big awards. One of its biggest recent wins includes a $4 billion 10-year contract from the United States Space Force, a new branch of the U.S. Armed Forces. Amentum generated more than $500 million in free cash flow last fiscal year and is using the cash to reduce its debt load while investing in the business for growth.
Amentum is entering 2026 with solid momentum, having positioned itself well to benefit from the government's renewed focus on national security and megatrends such as nuclear energy. This is one intriguing stock you'd want to add to your portfolio.
Glossary
Assets Under Management (AUM): The total market value of investments managed by a fund or investment firm.
13F Assets: Securities and holdings that institutional investment managers must report quarterly to the SEC on Form 13F.
Reportable Position: An investment holding that meets the threshold for mandatory disclosure in regulatory filings.
Position: The amount of a particular security or asset held by an investor or fund.
Stake: The ownership interest or share held in a company by an investor or fund.
Mission-critical: Essential services or operations whose failure would seriously impact an organization’s ability to function.
Technical Consulting: Professional advisory services focused on specialized technology, engineering, or operational solutions.
Contract Portfolio: The collection of active agreements a company holds with clients for providing goods or services.
TTM: The 12-month period ending with the most recent quarterly report.
Undergoing a significant AUM reduction: The fund is experiencing a notable decrease in the total value of assets it manages.
