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A few weeks ago, I described the structural appreciation of the uranium market as part of the supercycle approach: Supply deficits, geopolitical upheavals and the political turnaround in favor of nuclear energy mark the beginning of a multi-year uptrend. Today, reality provides the next piece of evidence - and $CCO (-3,91%) (Cameco) is at the center of it.

Together with Westinghouse Electric and Brookfield Asset Management, the Canadian company is participating in a new $BAM (+0,01%) Brookfield Asset Management in a new 80 billion US dollar energy offensive by the US government. The aim is to massively expand nuclear power capacities in the United States. The initiative is more than just a political signal: it is seen as a turning point in industrial policy and is intended to cover the entire cycle of civilian nuclear energy - from uranium mining to fuel processing and reactor technology. Supported by state guarantees and tax incentives, it marks an attempt to reduce dependence on Russia and China in the global uranium market.

For Cameco, this represents a decisive step: the Group, previously one of the largest uranium producers in the world, is increasingly becoming a political and economic partner of the Western energy transition. The combination of technological expertise, access to first-class deposits and now also political backing gives the company a strategic role that goes beyond simply extracting raw materials.

For me, today's news underlines why uranium is currently one of the most exciting sectors for long-term investors. My own supercycle portfolio reflects this logic: a tiered exposure along the entire value chain - from producers to physical storage companies. Cameco forms the core, the foundation of the positioning. In addition, I rely on $YCA (-1,75%) (Yellow Cake) as a direct lever on the uranium price, as the company physically stores real stocks and thus offers pure price exposure. $NXE (-0,23%) (NexGen Energy) stands for the exploration growth portion: a developer that controls one of the most promising uranium deposits in the world with the Arrow project in Canada. $DML (+0%) (Denison Mines) contributes technological diversification - the focus is on the in-situ recovery method, which is intended to make uranium mining more efficient and environmentally friendly. Finally $PDN (-4,27%) (Paladin Energy) complements the geographic diversification with a strong production focus in Namibia - a leverage to the supply shortage outside North America.

Together, these five stocks form a balanced cluster of substance and dynamism. Cameco and Yellow Cake stand for stability, NexGen, Denison and Paladin for speculative momentum in the early cycle. It is precisely this mix that is characteristic of phases in which structural scarcity coincides with political tailwinds.

Today's US initiative fits into a bigger picture. Nuclear energy is making a comeback worldwide: France is extending operating times and planning new EPR plants, Japan is reactivating reactors, China is continuously expanding its network, while countries such as Poland, the Czech Republic and Finland are initiating their own projects for the first time. After decades of underinvestment, there is a massive surge in demand - and supply is barely growing. Cameco controls some of the most productive mines in the world and is benefiting directly from the structural deficit.

The current cycle is following a familiar pattern: first prices stabilize after a long bear market, then political programs and investment waves meet tight capacity. We are right in the middle of this acceleration phase. The momentum is not the result of short-term speculation, but of real bottlenecks and industrial policy realignment.

Of course, the environment is not without risks. After the strong performance of recent quarters, temporary consolidations are possible, and uranium prices are also sensitive to geopolitical shifts. Regulatory uncertainties regarding new projects could also delay schedules. But the overarching story remains intact: Nuclear power is back - and with it those companies that supply the fuel.

Cameco is at the forefront of a growing ecosystem that stretches from Canada to Australia and Namibia. Participation in the US's 80 billion offensive shows that uranium is no longer a marginal issue, but is seen as a security policy factor. Investing in this super cycle at an early stage means investing not only in energy, but also in geopolitical stability.

From time to time, there are movements on the markets that last longer than a normal upswing. This is known as a super cycle - a phase in which certain commodities or technologies are in demand for many years and their prices rise significantly. This is usually due to fundamental changes in the economy and society.

A well-known example is China in the 2000s. Rapid construction activity and industrialization led to raw materials such as iron ore or coal becoming increasingly expensive over the course of a decade. In this context, there is often talk of the "commodity supercycle", which was driven by the massive demand of Chinese construction and industrial policy. In recent years, this is how I perceive the technology sector in particular: cloud services, automation and artificial intelligence have caused demand for semiconductors to explode.

I currently have the impression that new super cycles could be on the horizon again. In the uranium sector in particular, it is noticeable that many countries are bringing nuclear energy more into play. This is already reflected in my own portfolio. I differentiate between core stocks and leverage stocks. The core stocks are my basic investments: $CCO (-3,91%) (Cameco) and $YCA (-1,75%) (Yellow Cake). Both are established, comparatively stable and form the foundation on which my uranium strategy rests. Leveraged stocks, on the other hand, are more speculative and react much more strongly to market movements. Here I am betting on planned positions in $NXE (-0,23%) (NexGen Energy), $DML (+0%) (Denison Mines) and $PDN (-4,27%) (Paladin Energy). I have currently set orders for these stocks, which will only be executed when the risk/reward ratio is right. This allows me to build up the positions in a controlled manner and keep the risk within limits.

Another example of a possible super cycle is the defense industry. Prices there have already risen sharply in recent years, driven by geopolitical tensions and rising defense spending. I personally missed this trend - but this is precisely the lesson: markets move in waves and anyone who misses a cycle should not look back, but forward. Because there are always new opportunities if you recognize the structural changes early on.

In addition to uranium, copper could also play a role again. The major producers in particular $FCX (+0,13%) (Freeport-McMoRan) and $SCCO (-0,35%) (Southern Copper) are particularly interesting if the global grid expansion and electrification actually trigger a new boom in demand.

I am interested: What's your take on this? Is a new super cycle emerging here, especially in the uranium sector - or is this more of a short wave? Which stocks do you think are exciting and what strategies are you pursuing yourself?