Hi Ian,
Yes.
"The ATU settings are kept for each band and for each antenna. Each band
has multiple segments as shown in Table 6 3 and the ATU will pick the
tuning setting for that segment as you tune across the band. This means
that the ATU will keep narrowband antennas in tune as you move around in
the band. Each time you transmit the microcontroller will see if you
have moved the VFO to another band segment and will automatically chose
that setting for the L and C in the ATU. You can erase the stored L and
C values for any band by tapping CLR when in the CONFIG:KAT3 menu."
Your owner's manual also describes this on page 22 also.
Fred Cady
fcady at ieee dot org
"The Elecraft K3: Design, Configuration, and Operation"
www.ke7x.com
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