Nuclear / Uranium / SMR

Where it stands

Each step compares the last four complete quarters with the two years before. A theme usually moves left to right: companies push, Congress and the White House act, the government buys, and markets respond.

1. 1. Companies pushing
   Steady

   131 companies and groups lobbied on it in Q2 2026, against 120 a year earlier.

2. 2. Congress
   Steady

   8 bills introduced and 0 became law in the last four quarters, against 9 and 1 a year before that.

3. 3. White House and agencies
   Falling

   5 proposed rules, 5 final rules and 1 presidential action in the last four quarters, against 17 a year before that.

4. 4. Government buying
   Steady

   57 purchase plans and award notices in the last four quarters, against 74 a year before that (records start October 2023).

5. 5. Markets
   Falling

   4 insider purchases in the theme's companies in the last four quarters, against 16 a year before that. Their stocks: -49% over the same year, against +14% for the S&P 500. Among the 50 largest holdings of the funds we track, these stocks were worth $16.0B at the end of Q1 2026, against $5.0B a year earlier; the figure moves with prices and with how many funds rank them that high.

The setup

The US government is making a concerted push to re-establish domestic nuclear fuel independence, particularly for High-Assay Low-Enriched Uranium (HALEU). This effort is spearheaded by the Department of Energy, which is investing hundreds of millions into pilot plants and production capacity. Concurrently, the administration is opening up federal lands for critical mineral extraction, including uranium, to secure raw material supply.

How this developed

1. Sep 22, 2025DOE awards BWXT ENRICHMENT OPERATIONS, LLC $266.7M for a Domestic Uranium Enrichment Pilot Plant.Federal contract
2. Mar 4, 2026DOE awards GENERAL MATTER, INC. $900M to establish annual domestic HALEU production capacity.Federal contract
3. Jul 13, 2026Presidential Proclamation modifies Grand Staircase-Escalante National Monument, opening 1.69M acres for critical mineral extraction, including uranium.Executive action
4. Oct 8, 2026GSA awards MATOS-GRUNLEY JOINT VENTURE $21.3M for Nuclear Regulatory Commission office renovations.Federal contract
5. Oct 14, 2026NASA awards STIRLING INNOVATIONS LLC $1.27M for an innovative 20-KW Delta Stirling Generator for Fission Surface Power.Federal contract

The full story, year by year

* Year to date. Lobbying is the most companies and groups naming the theme in any one quarter. Insider buys are officer and director open-market purchases in CCJ, LEU, UEC, BWXT, OKLO, SMR, NNE, LTBR, EU, UUUU. Fund holdings are the value of these companies among the top 50 positions of the funds whose 13F filings we track, at the latest quarter of each year. Stock returns are an equal-weight basket of the same companies with prices on file, split-adjusted, without dividends, against the S&P 500 over the same quarters.

• Lobbying before 2025 comes from filings that name the theme; the full lobbying archive is still loading.
• Lobbying reports for Q3 2026 are still being filed, so the comparison uses Q2 2026.

Why it matters

• The DOE has committed over $1.16 billion (E3, E5) to re-establish domestic uranium enrichment and HALEU production, indicating a strategic move away from foreign reliance for advanced nuclear fuel.
• A Presidential Proclamation (E7) opened 1.69 million acres of federal land for critical mineral extraction, including uranium, directly supporting the domestic nuclear fuel supply chain from raw materials to enriched product.
• NASA's investment in fission surface power (E14) suggests a long-term vision for nuclear energy applications beyond terrestrial power, potentially for space exploration or remote installations.
• The renovation of NRC offices (E12) indicates ongoing federal infrastructure support for nuclear regulatory oversight, essential for the expansion of domestic nuclear capabilities.

Companies exposed to this theme

The record · 5 items, oldest first

• Sep 22, 2025Federal contractBWXT ENRICHMENT OPERATIONS, LLC: DOMESTIC URANIUM ENRICHMENT PILOT PLANT TASK ORDER 1
• Mar 4, 2026Federal contractGENERAL MATTER, INC.: THE PURPOSE OF THIS TASK ORDER (TO) IS TO ESTABLISH NEW ANNUAL DOMESTIC COMMERCIAL HIGH-ASSAY LOW-ENRICHED URANIUM (HALEU) CAPACITY AND BEGI
• Jul 13, 2026Executive actionProclamation: Modifying the Grand Staircase-Escalante National Monument
• Oct 8, 2026Federal contractMATOS-GRUNLEY JOINT VENTURE: NUCLEAR REGULATORY COMMISSION 2ND & 3RD FLOOR RENOVATIONS ONE WHITE FLINT NORTH, 11555 ROCKVILLE PIKE, ROCKVILLE, MD 20852
• Oct 14, 2026Federal contractSTIRLING INNOVATIONS LLC: SBIR PHASE II - INNOVATIVE 20-KW DELTA STIRLING GENERATOR FOR FISSION SURFACE POWER

Some keyword matches were judged unrelated to this theme and are excluded from the record above.

How this story evolved

• Oct 16, 2026, 5:12 AM ETreal121 recordslatest record Oct 14, 2026

  DOE commits $1.16B to domestic uranium enrichment and HALEU production, while opening federal lands for uranium mining.

  The US government is making a concerted push to re-establish domestic nuclear fuel independence, particularly for High-Assay Low-Enriched Uranium (HALEU). This effort is spearheaded by the Department of Energy, which is investing hundreds of millions into pilot plants and production capacity. Concurrently, the administration is opening up federal lands for critical mineral extraction, including uranium, to secure raw material supply.

• Oct 15, 2026, 5:13 AM ETreal363 recordslatest record Oct 13, 2026

  Presidential Proclamation opens 1.7M acres of federal land for uranium mining, following years of nuclear infrastructure investment.

  The US government is strategically expanding its domestic nuclear capabilities, from naval propulsion to energy production and waste management. This long-term initiative, primarily driven by the Department of Energy and Department of Defense, recently culminated in a presidential proclamation opening significant federal lands for critical mineral extraction, including uranium. This move signals a clear intent to secure domestic supply chains for nuclear materials.

• Oct 14, 2026, 5:14 AM ETreal113 recordslatest record Oct 13, 2026

  DOE commits $50B to nuclear lab operations and waste cleanup, while a Proclamation opens land for uranium mining.

  The US government is significantly investing in its nuclear infrastructure, focusing on both long-term operational support for national laboratories and extensive nuclear waste cleanup. Concurrently, a presidential proclamation has opened up substantial land for critical mineral extraction, including uranium, signaling a dual approach to nuclear energy and resource security. This activity is primarily driven by the Department of Energy and the Department of Defense.

• Oct 13, 2026, 5:13 AM ETreal114 recordslatest record Oct 13, 2026

  DOE commits $50B to nuclear lab operations and waste cleanup, while a Proclamation opens land for uranium mining.

  The US government is significantly investing in its nuclear infrastructure, focusing on both long-term operational support for national laboratories and extensive nuclear waste cleanup. Concurrently, a presidential proclamation has opened up substantial land for critical mineral extraction, including uranium, signaling a dual approach to nuclear energy and resource security. This activity is primarily driven by the Department of Energy and the Department of Defense.

• Oct 12, 2026, 5:13 AM ETreal113 recordslatest record Oct 8, 2026

  DOE commits over $45B to nuclear lab operations and waste cleanup, while a Proclamation opens land for uranium mining.

  The US government is making substantial, multi-billion dollar commitments to its nuclear infrastructure, focusing on both defense and environmental remediation. This includes long-term contracts for managing national nuclear laboratories and significant funding for nuclear waste cleanup. Concurrently, a presidential proclamation has opened up previously protected lands for critical mineral extraction, including uranium, signaling a dual-pronged approach to nuclear resource management and supply.

• Oct 11, 2026, 5:13 AM ETreal367 recordslatest record Oct 9, 2026

  DOE commits $40B to nuclear lab operations and waste cleanup, while a Presidential Proclamation opens 1.7M acres for uranium mining.

  The US government is significantly expanding its commitment to nuclear energy and related infrastructure, with a dual focus on maintaining existing nuclear capabilities and securing domestic uranium resources. This initiative is driven by substantial Department of Energy contracts for nuclear laboratory management and waste cleanup, alongside a Presidential Proclamation that reopens vast tracts of land for critical mineral extraction, including uranium.

• Oct 10, 2026, 5:12 AM ETreal116 recordslatest record Oct 8, 2026

  DOE commits over $45B to nuclear lab operations and waste cleanup, while a Proclamation opens land for uranium mining.

  The US government is making substantial, multi-billion dollar commitments to its nuclear infrastructure, focusing on both defense and environmental remediation. This includes long-term contracts for managing national nuclear laboratories and significant funding for nuclear waste cleanup. Concurrently, a presidential proclamation has opened up previously protected lands for critical mineral extraction, including uranium, signaling a dual-pronged approach to nuclear resource management and supply.

• Oct 9, 2026, 5:13 AM ETreal355 recordslatest record Oct 7, 2026

  DOE commits $4.9B to Hanford nuclear waste cleanup, while a Presidential Proclamation opens 1.7M acres for uranium mining.

  The US government is significantly increasing its commitment to nuclear infrastructure, focusing on both long-term waste management and domestic uranium supply. This dual approach is evidenced by billions in Department of Energy contracts for nuclear waste cleanup at the Hanford site and a Presidential Proclamation that reopens vast tracts of land for critical mineral extraction, including uranium. The Department of Defense is also investing heavily in naval nuclear propulsion and related infrastructure.

• Oct 8, 2026, 5:13 AM ETreal345 recordslatest record Oct 6, 2026

  DoD seeks private nuclear power for bases, while DOE invests billions in nuclear waste cleanup and uranium management.

  The US government is actively pursuing enhanced nuclear capabilities and infrastructure, with a dual focus on energy resilience for military installations and extensive cleanup of legacy nuclear waste. The Department of Defense is exploring private nuclear power solutions for its bases, while the Department of Energy is committing billions to manage and dispose of nuclear materials.

• Oct 7, 2026, 5:15 AM ETreal339 recordslatest record Oct 6, 2026

  DoD seeks private nuclear power for military bases, while DOE invests billions in nuclear cleanup and propulsion.

  The US government is actively pursuing advanced nuclear technologies and securing its nuclear infrastructure, with a dual focus on energy resilience for military installations and significant investments in nuclear waste cleanup. This initiative began with the Department of Defense seeking private sector solutions for nuclear power at naval facilities, indicating a strategic shift towards localized, resilient energy sources. Concurrently, the Department of Energy is allocating billions to manage and operate key nuclear sites and clean up legacy waste.

• Oct 6, 2026, 5:13 AM ETreal1535 recordslatest record Oct 6, 2026

  DOE commits $45B to nuclear lab operations and waste cleanup, while Congress eyes nuclear space propulsion.

  The US government is making substantial, long-term commitments to its nuclear infrastructure, focusing on both defense and environmental remediation. Over $45 billion has been allocated to managing national nuclear laboratories and cleaning up legacy waste sites, primarily Hanford. Concurrently, there's emerging congressional interest in advanced nuclear propulsion for space applications.

• Oct 5, 2026, 5:13 AM ETreal161 recordslatest record Oct 1, 2026

  DOE commits $900M to domestic HALEU production and $27.4B to Los Alamos, while a Presidential Proclamation opens critical mineral lands.

  The US government is making significant, multi-billion dollar investments in nuclear energy and related infrastructure, focusing on domestic fuel production, laboratory operations, and waste management. This push is underscored by a presidential action to open lands for critical mineral extraction, including uranium. The Department of Energy is leading these efforts with substantial contract awards.