Sprott Physical Uranium TrustS
Sprott Physical Uranium Trust is not an operating miner, explorer or royalty company. It is a closed-end fund established under the laws of the Province of Ontario, managed by Sprott Asset Management LP of Toronto, which in its own words "invests and holds substantially all of its assets in uranium in the form of U3O8" with the goal of providing "a secure, convenient and exchange-traded investment alternative for investors who want to hold uranium." It holds physical triuranium octoxide in kind at third-party licensed facilities -- Cameco in Canada, ConverDyn in the United States and Orano in France -- and holds no mining equities and no mineral properties. It was formed on 19 July 2021, following shareholder approval on 7 July 2021, by an arrangement that reorganised Uranium Participation Corporation (formerly TSX: U, and the entity behind the now-defunct US OTC ticker URPTF) into the Trust, with each UPC common share exchanged for one Trust unit; that reorganisation is why URPTF is rejected as a superseded duplicate elsewhere in this same task. As at 17 September 2026 the Trust held 81,697,348 pounds of U3O8 (unchanged from 24 August 2026 -- no new purchase in the interim) with total net asset value of approximately US$7.43 billion, equal to US$21.58 per unit, up from US$21.48 per unit (24 Aug 2026) on uranium-price movement alone, not a change in holdings. Fees are a base management fee of 0.35% per annum plus operating expenses, giving a management expense ratio of 0.71% annualised for the period ended 30 June 2026. Its technical advisor on physical uranium matters is WMC Energy; RBC Investor Services is trustee.
Jurisdiction (40%, counts 100% here)9/10
Toronto-domiciled closed-end trust, managed by Sprott Asset Management LP and listed on the TSX; risk here reflects corporate/administrative jurisdiction only, since the trust holds no mineral property anywhere and therefore carries no permitting, community or resource-nationalism risk of the kind this score normally measures. Its real economic exposure is to the uranium price and to the custody arrangements for physical U3O8 held at licensed conversion facilities.
Infrastructure (40%)Not scored
This company holds investments in mining companies rather than owning or building a mine of its own, so a flagship infrastructure checklist isn't scored for it.
Nearby producing mine (20%)Not scored
Not scored for an investment/holding company, which holds investments in mining companies rather than owning or running a mine of its own.
Your Rankings
Management Team
Chief Executive Officer and Director of Sprott Asset Management LP and Sprott Asset Management GP Inc. (the Manager of Sprott Physical Uranium Trust, responsible for the Trust's day-to-day business and administration), a role held since 2017. Sprott Physical Uranium Trust itself is a passive closed-end investment trust with no CEO of its own -- this role is the real, disclosed officer functionally responsible for the Trust via its Manager, not an invented 'CEO of the Trust' title.
Chief Financial Officer of Sprott Asset Management LP and Sprott Asset Management GP Inc. (the Manager of Sprott Physical Uranium Trust); also Chief Controller of Sprott Inc. Same honest framing as John Ciampaglia's role -- the Trust has no CFO of its own, this is the Manager's real, disclosed CFO.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Sprott Physical Uranium Trust is a closed-end trust that holds physical uranium (U3O8) and owns no mines or projects. It held 81,697,348 lb of U3O8 at 18 Sep 2026, with a net asset value of about US$7.43bn (US$21.58 per unit). Its units can trade at a premium or a discount to that NAV; on 24 Aug 2026 they closed 4.95% below it.