Segra Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Segra Capital Management, LLC reported 8 stock positions worth $310.0 million. Its top holding was Nexgen Energy (NXE) at 31.6% of the portfolio, followed by Denison Mines (DNN, 19.9%) and Cameco (CCJ, 15.2%). Compared with Q1 2025, it sold out of 1, added to 5 and reduced 3. The biggest buy was Cameco (CCJ, shares +84%) and the biggest sale Vistra (VST, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- PALM BEACH, FL
- CIK
- 0001607512
- Portfolio Value
- $310.0M (Q2 2025)
- SEC Filing
- 0001607512-25-000009 ↗ filed Aug 14, 2025
Holdings Value
Holdings 8 stocks · $310.0M
| NXE Nexgen Energy Ltd. | 31.58% | 14,107,844 | $97.9M | Add +2.7% |
| DNN Denison Mines Corp. | 19.90% | 33,901,398 | $61.7M | Add +12.6% |
| CCJ Cameco Corp. | 15.21% | 635,000 | $47.1M | Add +83.6% |
| BWXT BWX Technologies Inc. | 11.62% | 250,000 | $36.0M | Add +5.8% |
| URG Ur-Energy Inc. | 11.15% | 32,923,960 | $34.6M | Add +13.3% |
| UEC Uranium Energy Corp. | 7.00% | 3,190,107 | $21.7M | Reduce -10.2% |
| EU Encore Energy Corp. | 3.48% | 3,770,728 | $10.8M | Reduce -5.6% |
| VST Vistra Corp. | 0.06% | 1,000 | $194K | Reduce -99.2% |
Options reported separately and not counted above: CAMECO CORP calls ($52.0M).
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
Options Activity Q1 2025 → Q2 2025
| CAMECO CORP | call | Reduce -41.7% | 700,000 | $52.0M |
| VISTRA CORP | call | Sold out | 200,000 | $23.5Mbefore exit |
| CONSTELLATION ENERGY CORP | call | Sold out | 100,000 | $20.2Mbefore exit |
| GLOBAL X FDS | call | Sold out | 500,000 | $11.5Mbefore exit |
| NEXGEN ENERGY LTD | call | Sold out | 1,000,000 | $4.5Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $435.0M | XE, VST, AMTM, CEG, NRG |
| Q1 2026 | 6 | $128.4M | AMTM, CEG, VST, GEV, NKLR |
| Q4 2025 | 5 | $46.8M | NKLR, AMTM, VST, NXE, URG |
| Q3 2025 | 4 | $86.5M | URG, NXE, AMTM, VST |
| Q2 2025 | 8 | $310.0M | NXE, DNN, CCJ, BWXT, URG |
| Q1 2025 | 9 | $204.1M | NXE, DNN, BWXT, URG, UEC |
| Q4 2024 | 7 | $194.5M | NXE, DNN, URG, CCJ, BWXT |
| Q3 2024 | 8 | $256.4M | NXE, CCJ, DNN, URG, UEC |
| Q2 2024 | 4 | $109.1M | NXE, URG, DNN, BWXT |
| Q1 2024 | 4 | $130.8M | NXE, DNN, URG, CCJ |