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Peter Varellas had three goals to lead the United States to an 8-7 victory over Montenegro.
U.S. captain Tony Azevedo scored with less than a minute to play, but Vladimir Gojkovic answered 10 seconds later to pull back within a goal.
Montenegro then had possession with 17 seconds to play but couldn’t get off a shot before time expired.
The win puts the U.S., which has 10 players from the squad that took silver four years ago in Beijing, in a three-way tie for the Group B lead.
The favored Serbs handed Hungary its first loss in men’s Olympic water polo in 12 years, beating the three-time defending champion 14-10.
