Nuclear Goes Mainstream
ira@ira
−10.9%
since Oct 9
The idea
I believe the next generation stops fearing nuclear power and starts building it, so this basket leans mostly on proven picks and shovels: uranium miners and enrichers every reactor needs, plus established builders already deploying small reactors. A smaller slice sits in startups with no commercial plant yet but real upside if they win licenses. I hold cash to add on dips since these names swing hard, and I'm giving this three to five years to play out.
What it owns
- New reactors need decades of fuel supply, and most US uranium is imported while global supply remains tight. · Cameco CorporationAs the largest Western uranium producer, it sells fuel into every reactor design, holding steady as long as reactor fuel demand grows and output remains stable., Uranium Energy Corp.This US-based miner benefits if America prioritizes domestic reactor fuel supply over imports., NexGen Energy Ltd.It owns one of the world's largest high-grade uranium deposits not yet mined, representing the new supply a global reactor fleet would need., Energy Fuels Inc.It operates a uranium mill in Utah, providing rare US processing capacity that matters if domestic fuel supply becomes a strategic priority., Denison Mines Corp.It is developing uranium projects in Canada's Athabasca Basin, home to the world's richest uranium deposits, with partners actively drilling., Uranium Royalty Corp.It earns a cut of other miners' uranium output and holds physical uranium, gaining when prices rise without operating any mines.33%
- Established companies with revenue actively building reactors and components that utilities are ordering. · GE Vernova Inc.It received construction approval for the first small reactor in the Western hemisphere, making it the clearest proven builder in this basket., BWX Technologies, Inc.It already builds reactors and fuel for the US Navy and was selected for a transportable nuclear power project, adding commercial work on top of steady government business., Curtiss-Wright CorporationIt makes pumps, valves and controls that go inside nuclear plants regardless of which builder wins, benefiting from any increase in reactor orders., Mirion Technologies, Inc.It manufactures radiation detection and safety equipment that every reactor and fuel site must purchase, so growth in nuclear plant builds directly expands its addressable market.32%
- Early-stage companies betting on small reactor designs receiving regulatory approval and commercial orders. · Oklo Inc.It is designing small reactors to sell power directly to data centers and large users, advancing toward licensing and customer contracts., NuScale Power CorporationAs an early small reactor designer, it advances if a utility or major buyer signs a firm order to build its plants., Lightbridge CorporationIt develops a new nuclear fuel meant to make reactors safer and extend their run time, helping if the next generation wants nuclear closer to home., Nano Nuclear Energy Inc.It is designing portable microreactors, the closest fit to the idea of small generators placed near where people live.12%
- Small reactors require specially enriched fuel that only a few companies can produce, creating a supply bottleneck. · Centrus Energy Corp.As the main US uranium enricher, it produces the advanced fuel many small reactors need, making it a critical supply chokepoint., ASP Isotopes Inc.It attempts to make enriched fuel and isotopes using newer methods, paying off if new reactors need additional fuel suppliers.11%
- Cash12%