Nuclear Catalyst Mix
mojojojo@mojojojo
−6.4%
since Oct 3
The idea
I believe the nuclear revival keeps building over the next year or two, pushed by power-hungry data centers, plant restarts, and a uranium and enrichment market that can't loosen up fast. I lean hardest into the fuel cycle and the utilities already signing deals, add component and service makers riding the contract wave, and keep a small slice in SMR builders as a long-shot bet since most won't see real revenue for years. I hold some cash back to buy into the inevitable headline-driven dips, and I'd rethink this if the fuel squeeze actually eases or the power deals stop coming.
What it owns
- Uranium mining and enrichment capacity cannot expand quickly enough to meet surging demand from new reactor builds, creating near-term pricing power for suppliers. · CamecoIt is the largest Western uranium miner and supplies more of the fuel than any producer outside Kazakhstan, making it the dominant play on sustained fuel demand and pricing., Centrus EnergyIt is the only US uranium enrichment operator and enrichment represents the tightest link in the fuel supply chain as Russian capacity is being displaced from Western markets., Uranium Energy CorpIt is restarting US uranium mines into a constrained market where supply cannot respond quickly, positioning it to profit if uranium prices remain elevated and domestic sourcing stays preferred., NexGen EnergyIt holds the largest undeveloped uranium deposit in the Western world, so it gains substantial value if uranium supply remains tight long enough to justify funding and building new mines., Denison MinesIt controls one of the lowest-cost undeveloped uranium projects globally, capturing outsized gains if prices remain elevated while the development timeline advances toward production., Sprott Uranium Miners ETFIt is a diversified uranium mining sector ETF that captures upside if fuel supplies tighten while reducing company-specific risk from any single miner's operational setback., Energy FuelsIt is an operating US uranium producer with current revenue that can increase output as prices justify expansion, offering fuel-cycle exposure with real near-term earnings.34%
- Utilities that operate reactors today are capturing immediate value as data centers sign long-term power contracts with nuclear plants. · Constellation EnergyIt operates the largest US reactor fleet and has already signed a major data-center power deal, positioning it as the primary beneficiary if hyperscalers continue committing to nuclear energy at scale., VistraIt owns operating reactors and benefits from both the nuclear power revival and the broader electricity market tightness that is driving data-center operators toward nuclear contracts., Talen EnergyIt signed one of the earliest major nuclear-to-data-center power deals, demonstrating direct proof that hyperscalers will pay for long-term nuclear contracts at attractive prices., Public Service Enterprise GroupIt is a regulated utility that operates its own reactors and benefits from higher nuclear valuations while providing more stable returns than pure-play nuclear companies.24%
- Companies that manufacture reactor parts and provide specialized services earn revenue from every plant restart, uprate, and new construction project regardless of which reactor design ultimately dominates. · BWX TechnologiesIt manufactures reactor components needed across nearly every US nuclear project, so it captures revenue from restarts, upgrades, and new builds regardless of reactor design success., GE VernovaIt supplies turbines and grid equipment that serve both new nuclear builds and power-hungry data centers, positioning it to ride the entire electricity infrastructure expansion., Mirion TechnologiesIt provides radiation measurement and monitoring equipment required by law at every nuclear facility, collecting steady revenue from the nuclear revival without exposure to any single plant or design., Curtiss-WrightIt manufactures pumps and valves used in most US reactor plants, earning incremental revenue each time a facility restarts, extends its life, or signs a new service contract.23%
- Small modular reactor developers remain early-stage and pre-revenue, offering concentrated exposure to the possibility that this technology class moves from licensing into commercial deployment. · OkloIt is pursuing small modular reactor construction with no material revenue expected until the end of the decade, making it a concentrated bet on whether the technology moves into actual deployment., NuScale PowerIt has the only small reactor design approved by US regulators, positioning it to lead if actual customer orders materialize and the expected small reactor buildout becomes reality., Nano Nuclear EnergyIt is a pre-revenue microreactor developer pursuing a more speculative path than established SMR players, requiring sufficient nuclear sector enthusiasm and adequate funding runway to deliver value.9%
- Cash10%