AI Adaptation Research Report — LDOS (Leidos Holdings, Inc.) · BlackSwan constituent

EventTrader research desk · generated 2026-11-05 04:23 UTC · report ai-adapt-ldos-20261105 · narrative: built from the evidence pack by the platform

1. Verdict

• LDOS (Leidos Holdings, Inc.) is a BlackSwan constituent: its own filings show no adaptation to AI the scorer can credit, and its AI Adaptation Score ranks at the bottom of the software companies (SIC 7370–7379) on the 2026-11-05 run [S5].
• The score rests on the company's 10-Q filed 2026-11-03, read in full by the platform's scorer [S1].
• Adoption level 0 — absent on the 0–4 rubric, a deterministic read of a filing with no AI sentence [S1].
• AI Adaptation Score 9.4 / 100, percentile 11.4 of 6503 scored filers and 1.0 within its sector (software, 585 filers) [S5].
• What would move it: any AI deployment, investment or outcome stated in the next periodic report [S1].

2. The company

Leidos Holdings, Inc. files with the SEC under CIK 1336920, SIC 7373 (Services-Computer Integrated Systems Design), listed on NYSE [S4]. The filing the score reads is the 10-Q filed 2026-11-03 for the period ended 2026-10-02, effective for the books from 2026-11-04 [S2].

3. What the filing says about AI

The 10-Q contains no sentence about artificial intelligence, machine learning or related technology in the sections the scorer reads (4,595 words parsed) [S1]. A filing that says nothing about AI is scored level 0 (absent) by construction; there is no claim to assess and nothing for a model read to re-judge [S5].

4. The AI Adaptation Score

The AI Adaptation Score weighs the adoption level (0–4) at 45%, building with AI from the ground up (greenfield) at 20%, the credibility of the claims at 15%, the trajectory against the previous filing at 12% and the investment signal at 8%, with trajectory and investment measured against the company's own sector; the greenfield reward counts only from level 3 upward [S5]. LDOS's score of 9.4 decomposes into level 0.0, greenfield 0.0, credibility 0.0, trajectory 5.9 and investment 3.5 points [S5]. Its cluster label for the run is non_adopter with a margin of 21.4 points from the sector's other cluster [S5].

No model read has confirmed this filing yet; the level is the deterministic reading of the filing text (a filing with no AI sentence needs none) [S5].

5. Trajectory

The previous periodic report, the 10-Q filed 2026-08-04, scored level 0 (absent) with 0 AI sentences [S3]. The level is unchanged between the two reports [S1].

6. Recent developments

• wire:prnewswire_earnings 2026-11-03T11:00+00:00: Leidos Delivers Strong Third Quarter and Enhances Full-Year Guidance [S7]
• wire:prnewswire 2026-10-30T20:15+00:00: Leidos Holdings, Inc. Increases Quarterly Cash Dividend by 4.7% [S8]
• wire:prnewswire 2026-10-06T15:00+00:00: Leidos names Stephen Vather senior vice president of investor relations [S9]
• wire:prnewswire 2026-10-06T12:00+00:00: Leidos Schedules Third Quarter 2026 Earnings Conference Call for November 3, 2026, at 8 a.m. (ET) [S10]
• yahoo:symbols 2026-10-01T12:00+00:00: Leidos appoints AT&T COO Jeff McElfresh to board of directors [S11]
• wire:prnewswire 2026-09-29T13:00+00:00: Leidos launches agentic AI platform to speed response to cyber threats [S12]
• yahoo:symbols 2026-09-29T12:35+00:00: Back Where He Belongs: Finding the Right Career Path at Leidos [S13]
• yahoo:symbols 2026-09-22T16:33+00:00: Leidos to support extended ARTEMIS airborne ISR mission for U.S. Army [S14]

7. What would change the verdict

The next periodic report is what moves LDOS: a stated AI deployment in a named function, a measured outcome, named investment (capital expenditure, research and development, hiring) or a proprietary model would lift the level and the score, and the book is recomposed on every scoring run [S5]. A model read that found adoption the keyword count missed would also move it; the score is re-read whenever a new filing arrives [S5].

8. Risks and caveats

The score reads what the company discloses, not what it does: a company can adopt AI without describing it in a periodic report, and can describe it without adopting it [S5]. Risk-factor language is counted separately from substantive text and never credited as adoption; boilerplate that resembles generic risk disclosure is excluded [S5]. Only the sections the scorer parses are read (business, risk factors, management's discussion for a 10-K or 10-Q; the earnings release of an 8-K is scored but never anchors a level) [S5].

9. Watch list

• The next periodic report of LDOS (expected around 2027-02-01) and its AI sentences [S4].
• The model read of the current filing (pending) [S5].
• The next scoring run's AI Adaptation Score and the book's recomposition [S5].

Place in the book

• Rank 6 of 10 in AMF-BLACKSWAN (Swan Composite v1.1.0, scoring run 2026-11-05): the book holds the lowest composites [S5].
• Composite: 0.50 × 9.4 (AAS) + 0.25 × 54.9 (story) + 0.25 × 50.5 (market) = 31.1 [S5].
• Market verdict 50.5: over the last 90 days LDOS moved with the software universe's median daily return (down-capture 1.13, up-capture 1.15, L = 0.02; 32 down / 19 up days) — the Failure-To-Adapt fund's selection signal, 50 = moves with the software universe's median daily return [S5].
• AI Story Score 54.9: a beneficiary narrative in the AI stories written about the company [S5].
• Weight: rank factor 1.44 (rank 6 of 10) × story factor 1.00 × market factor 1.00, normalised across the book and clamped to 5–20% → 8.7% [S5].

Sources

• S1 — LDOS 10-Q filed 2026-11-03 — SEC primary document (the anchor filing the score reads) — https://www.sec.gov/Archives/edgar/data/1336920/000133692026000293/ldos-20261002.htm
• S2 — EDGAR filing index for accession 0001336920-26-000293 — https://www.sec.gov/Archives/edgar/data/1336920/000133692026000293/
• S3 — LDOS 10-Q filed 2026-08-04 — the previous periodic report (trajectory) — https://www.sec.gov/Archives/edgar/data/1336920/000133692026000246/
• S4 — SEC EDGAR company submissions — Leidos Holdings, Inc. (CIK 1336920) — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1336920
• S5 — EventTrader AI Adaptation Score, scoring run 2026-11-05 — the AMF-BLACKSWAN fund page (method, composition) — https://cymetica.com/fund-performance/AMF-BLACKSWAN
• S6 — EventTrader real-price feed — LDOS quote — https://cymetica.com/api/v1/prices/LDOS
• S7 — Headline — wire:prnewswire_earnings 2026-11-03T11:00+00:00: Leidos Delivers Strong Third Quarter and Enhances Full-Year Guidance — https://www.prnewswire.com/news-releases/leidos-delivers-strong-third-quarter-and-enhances-full-year-guidance-302926904.html
• S8 — Headline — wire:prnewswire 2026-10-30T20:15+00:00: Leidos Holdings, Inc. Increases Quarterly Cash Dividend by 4.7% — https://www.prnewswire.com/news-releases/leidos-holdings-inc-increases-quarterly-cash-dividend-by-4-7-302924879.html
• S9 — Headline — wire:prnewswire 2026-10-06T15:00+00:00: Leidos names Stephen Vather senior vice president of investor relations — https://www.prnewswire.com/news-releases/leidos-names-stephen-vather-senior-vice-president-of-investor-relations-302899903.html
• S10 — Headline — wire:prnewswire 2026-10-06T12:00+00:00: Leidos Schedules Third Quarter 2026 Earnings Conference Call for November 3, 2026, at 8 a.m. (ET) — https://www.prnewswire.com/news-releases/leidos-schedules-third-quarter-2026-earnings-conference-call-for-november-3-2026-at-8-am-et-302899260.html
• S11 — Headline — yahoo:symbols 2026-10-01T12:00+00:00: Leidos appoints AT&T COO Jeff McElfresh to board of directors — https://finance.yahoo.com/technology/articles/leidos-appoints-t-coo-jeff-120000015.html
• S12 — Headline — wire:prnewswire 2026-09-29T13:00+00:00: Leidos launches agentic AI platform to speed response to cyber threats — https://www.prnewswire.com/news-releases/leidos-launches-agentic-ai-platform-to-speed-response-to-cyber-threats-302891837.html
• S13 — Headline — yahoo:symbols 2026-09-29T12:35+00:00: Back Where He Belongs: Finding the Right Career Path at Leidos — https://finance.yahoo.com/technology/ai/articles/back-where-belongs-finding-career-123500338.html
• S14 — Headline — yahoo:symbols 2026-09-22T16:33+00:00: Leidos to support extended ARTEMIS airborne ISR mission for U.S. Army — https://finance.yahoo.com/technology/articles/leidos-support-extended-artemis-airborne-163300741.html

Method and disclaimer

The AI Adaptation Score reads each company's own periodic SEC reports (10-K, 10-Q, 20-F, 40-F): deterministic features (AI sentences by section, proprietary-model, deployment, outcome, investment and vendor language, boilerplate and negation excluded) set an adoption level on a 0–4 rubric; a model read of the filing's AI sentences confirms the level and scores credibility and greenfield (the business built with AI from the ground up rather than retrofitted); the score combines level, greenfield, credibility, trajectory against the previous report and investment, measured against the company's sector, with greenfield carrying the highest reward. The books are composed by Swan Composite v1.1.0: each company's composite is 50% AI Adaptation Score + 25% AI Story Score + 25% market verdict — the AI Story Score is the sentiment of the AI stories written about it, the belief network of companies named in the same stories and the price reaction to those stories (no story scores neutral); the market verdict is the Failure-To-Adapt fund's selection signal, the signed down/up capture ratio of the stock against the software universe's median return over 90 days (a stock that falls more and rises less than its peers scores below 50). AMF-BLACKSWAN holds the ten lowest composites that pass the liquidity screen and the new-listing gate and AMF-WHITESWAN the ten highest, weighted by conviction (rank, story agreement and market agreement, each leg 5–20%), recomposed on every scoring run. Every quote in this report is the filing's text verbatim; every factual sentence names its source; a source the platform could not reach is reported as missing, never filled in.

This report is information, not investment advice. Figures come from the cited sources as of their dates. Nothing here is a recommendation to buy, sell or hold any asset.