CCXIU
Churchill Capital Corp XI Units
stock NASDAQ Unit

**Key Points**
* MMCAP International Inc. SPC added 2,379,891 NexGen Energy shares; estimated trade size \~$21.01 million (based on quarterly average price)
* Quarter-end stake value rose by $21.91 million, reflecting both share increase and price appreciation
* Transaction equaled 2.1% of fund’s 13F reportable assets under management
* Post-trade holding: 2,429,898 shares valued at $22.36 million
* NexGen Energy represents 2.23% of AUM, placing it outside the fund’s top five holdings
MMCAP International increased its stake in NexGen Energy during the fourth quarter, deepening exposure to the company’s Rook I uranium project in Canada. As governments extend reactor lifespans and reconsider nuclear expansion, attention is turning to future uranium supply and how quickly projects like Rook I can begin production.
**What happened**
According to a February 9, 2026, SEC filing, MMCAP International Inc. SPC increased its position in **NexGen Energy Ltd.** **(NXE**\+3.71%**)** by 2,379,891 shares during the fourth quarter of 2025. The estimated transaction value was approximately $21.01 million, based on the average closing price for the period.
**What else to know**
NexGen Energy now accounts for 2.23% of MMCAP’s 13F reportable assets.
Top holdings after the filing:
* NYSE: ARMN: $224.44 million (22.5% of AUM)
* NASDAQ: ASTL: $47.11 million (4.7% of AUM)
* NASDAQ: CCXIU: $27.57 million (2.8% of AUM)
* NASDAQ:DMIIU: $27.04 million (2.7% of AUM)
* NASDAQ: NPAC: $22.57 million (2.3% of AUM)
As of February 8, 2026, shares were priced at $11.04, up 71.2% over the past year, outperforming the S&P 500 by 57.21 percentage points
**Company Overview**
https://preview.redd.it/d0o34irhgulg1.png?width=1118&format=png&auto=webp&s=86abd4a95a488daa14ac0bc932776379f3174876
**Company Snapshot**
NexGen Energy Ltd. focuses on uranium exploration and development, with its principal asset being the Rook I project in the Athabasca Basin, Saskatchewan.
The company Operates an exploration-driven business model, generating value through the discovery and advancement of high-grade uranium deposits for future production.
NexGen Energy Ltd. is headquartered in Vancouver, Canada, the company employs 133 people and is listed on the NYSE.
**What this transaction means for investors**
NexGen Energy’s stock has surged over the past year as uranium re-enters the global energy conversation. Countries looking to make their power grids more reliable and use less fossil fuel are keeping reactors running longer and approving new nuclear projects, which puts more focus on future uranium supply.
Rook I is located in Saskatchewan, Canada, within the Athabasca Basin, a region that produces some of the highest-grade uranium in the world. NexGen is not yet producing uranium, and its value is tied to advancing one of the largest undeveloped high-grade uranium resources in a stable Canadian jurisdiction. Progress will depend on regulatory approvals, and securing the capital needed to build a mine capable of supplying utilities for the upcoming decades.
For investors, the focus is less on short-term profits and more on whether long-term global demand for nuclear power will support the economics needed to move forward. Large uranium projects take years and significant capital to develop. If nuclear power continues to receive policy support and utilities sign long-term contracts, projects like Rook I could become increasingly important. If momentum fades, the project’s development timeline and investor time horizon could extend beyond current expectations.

**Key Points**
* MMCAP International Inc. SPC added 2,379,891 NexGen Energy shares; estimated trade size \~$21.01 million (based on quarterly average price)
* Quarter-end stake value rose by $21.91 million, reflecting both share increase and price appreciation
* Transaction equaled 2.1% of fund’s 13F reportable assets under management
* Post-trade holding: 2,429,898 shares valued at $22.36 million
* NexGen Energy represents 2.23% of AUM, placing it outside the fund’s top five holdings
MMCAP International increased its stake in NexGen Energy during the fourth quarter, deepening exposure to the company’s Rook I uranium project in Canada. As governments extend reactor lifespans and reconsider nuclear expansion, attention is turning to future uranium supply and how quickly projects like Rook I can begin production.
**What happened**
According to a February 9, 2026, SEC filing, MMCAP International Inc. SPC increased its position in **NexGen Energy Ltd.** **(NXE**\+3.71%**)** by 2,379,891 shares during the fourth quarter of 2025. The estimated transaction value was approximately $21.01 million, based on the average closing price for the period.
**What else to know**
NexGen Energy now accounts for 2.23% of MMCAP’s 13F reportable assets.
Top holdings after the filing:
* NYSE: ARMN: $224.44 million (22.5% of AUM)
* NASDAQ: ASTL: $47.11 million (4.7% of AUM)
* NASDAQ: CCXIU: $27.57 million (2.8% of AUM)
* NASDAQ:DMIIU: $27.04 million (2.7% of AUM)
* NASDAQ: NPAC: $22.57 million (2.3% of AUM)
As of February 8, 2026, shares were priced at $11.04, up 71.2% over the past year, outperforming the S&P 500 by 57.21 percentage points
**Company Overview**
https://preview.redd.it/d0o34irhgulg1.png?width=1118&format=png&auto=webp&s=86abd4a95a488daa14ac0bc932776379f3174876
**Company Snapshot**
NexGen Energy Ltd. focuses on uranium exploration and development, with its principal asset being the Rook I project in the Athabasca Basin, Saskatchewan.
The company Operates an exploration-driven business model, generating value through the discovery and advancement of high-grade uranium deposits for future production.
NexGen Energy Ltd. is headquartered in Vancouver, Canada, the company employs 133 people and is listed on the NYSE.
**What this transaction means for investors**
NexGen Energy’s stock has surged over the past year as uranium re-enters the global energy conversation. Countries looking to make their power grids more reliable and use less fossil fuel are keeping reactors running longer and approving new nuclear projects, which puts more focus on future uranium supply.
Rook I is located in Saskatchewan, Canada, within the Athabasca Basin, a region that produces some of the highest-grade uranium in the world. NexGen is not yet producing uranium, and its value is tied to advancing one of the largest undeveloped high-grade uranium resources in a stable Canadian jurisdiction. Progress will depend on regulatory approvals, and securing the capital needed to build a mine capable of supplying utilities for the upcoming decades.
For investors, the focus is less on short-term profits and more on whether long-term global demand for nuclear power will support the economics needed to move forward. Large uranium projects take years and significant capital to develop. If nuclear power continues to receive policy support and utilities sign long-term contracts, projects like Rook I could become increasingly important. If momentum fades, the project’s development timeline and investor time horizon could extend beyond current expectations.