Monument Traders Alliance's '$10 Trillion Energy Cube Rollout' — The Six Stocks Behind the Rolls-Royce SMR Pitch

The Hook

Karim Rahemtulla has a good story to tell, and he is telling it as a sequel. The Monument Traders Alliance founder, a former institutional options trader who now runs the Monument Trend Advisory letter, is back with a pitch built around the one call he can legitimately hang his hat on: his March 2022 teardown of Rolls-Royce. The letter costs $179 a year and was formerly branded Catalyst Cash-Outs LIVE.

That one worked. Rolls-Royce was a broken aircraft-engine maker coming out of COVID, and Stock Gumshoe has documented the turnaround at roughly 1,300% for anyone who bought when the tease was first published. So when Rahemtulla opens this presentation by saying he “picked Rolls-Royce for huge gains, and this is the next big winner,” he has earned the right to the warm-up.

The new idea is nuclear. Rolls-Royce spent sixty years designing compact nuclear reactors for the British Royal Navy’s submarine fleet, and it has now pivoted that engineering into a small modular reactor (SMR) program. Rahemtulla calls these machines “Energy Cubes,” and his thesis is that the rollout phase of that program, not the design phase, is where the next round of money gets made. The urgency hook is a countdown to an August decision from the UK nuclear regulator, which he says would validate the whole model and “set the standard for every Energy Cube deployment that follows worldwide.”

The Big Claim

Strip the countdown away and the core claim is straightforward: the AI buildout needs more electricity than the grid can supply, nuclear is the only source that scales cleanly, and a handful of companies positioned around small modular reactors will capture an enormous amount of the value.

The specific promises, in Rahemtulla’s own words, are these. The “secret partner” has a $47 billion backlog and a market cap “one seventh of that.” Demand for energy cubes was $159 million last year and will hit $5.17 billion by 2035, which he frames as “32 times expansion in 10 years.” And because Rolls-Royce “built the Energy Cube blueprint” and delivered “as much as 11 times your money in four years,” the partner is positioned as a second shot at the same kind of return.

There is also a bonus report buried in the pitch, the standard extra, this one called “OpenAI’s $22 Billion Secret Partner,” pointing at AI infrastructure rather than nuclear.

The Mechanism

The idea underneath the marketing is worth taking seriously, because the SMR thesis is not a scam, it is a genuine industrial story. Conventional nuclear plants are enormous, over-budget, and take a decade to build. Small modular reactors are supposed to be cheaper and faster because they can be mass-produced in factories and assembled on site. Rolls-Royce is one of the real leaders here, with a 470-megawatt design and a UK government that has been actively pushing it toward production. None of that is invented. We unpack how the Rolls-Royce SMR program actually works in a separate explainer.

The “secret partner” in the pitch is Amentum (AMTM), and this is where the first crack appears, because there is nothing secret about it. Amentum’s role as Rolls-Royce SMR’s development partner for the Welsh Wylfa site and for Czechia was widely reported back in January. The tease frames the reveal as something “buried inside that balance sheet” that “analysts don’t cover” and “headlines don’t mention.” The reality is that Amentum is a 2020-era roll-up of engineering and government-contracting divisions from AECOM and Jacobs, and its nuclear work is public, disclosed, and covered.

Amentum’s business is genuinely interesting on the merits. Nuclear power and nuclear weapons account for roughly 20% to 25% of revenue, including the Hinkley Point C project and a pile of legacy cleanup work. The bigger slice, more than 40%, is digital solutions, which means retrofitting data centers and building edge infrastructure and government cybersecurity, which is exactly the AI-adjacent work the pitch wants to associate with it. The backlog is real, close to $48 billion, and the book-to-bill ratio of 1.2 means it is signing new work faster than it completes it.

The companion names from the “part two” of the teardown fill out the sleeve. Mirion (MIR) makes radiation monitoring equipment used by roughly 95% of the world’s commercial nuclear plants, which is a genuine regulatory moat, nobody builds a reactor without this gear. UR-Energy (URG) and Paladin Energy (PALAF) are two uranium producers, the former a Wyoming in-situ recovery miner that just started its second mine, the latter the Athabasca Basin and Namibia producer that Rick Rule and Doug Casey famously rode in the 2000s. Sprott Physical Uranium Trust (SRUUF) is the conservative way in, a closed-end fund holding more than 80 million pounds of physical uranium at about a 10% discount to its net asset value. And CoreWeave (CRWV), the bonus pick, is the AI data-center operator with the $22 billion OpenAI relationship and the $2 billion NVIDIA investment.

The Real Pick

The table is the first honest signal about this pitch. Four of the six names are underwater since the tease, and only the two uranium plays are above water. The headline “secret partner,” Amentum, is down about 7%, which is not a catastrophe but is also not the “next Rolls-Royce” trajectory the framing implies.

Does the Math Check Out?

There are a few numbers here worth poking at, and one of them does not hold up.

The backlog claim is the big one. Rahemtulla says the company has a “$47 billion” backlog and a market cap “one seventh of that.” One seventh of $47 billion is about $6.7 billion. Amentum’s actual market cap, per the most recent close, is about $4.7 billion. The real ratio is closer to one-tenth than one-seventh. That is a roughly 40% exaggeration on the one number the pitch uses to make the stock look cheap, and it is the kind of sloppiness that matters when the whole appeal is “the market is mispricing this.”

The 32-times growth figure checks out arithmetically, $5.17 billion divided by $159 million is about 32.5, but it is a forecast, and a forecast for a technology whose economics are still unproven. As Stock Gumshoe pointed out in the teardown, nobody is going to be running a cost-effective commercial SMR at scale until the 2030s, and the “portable reactor on a flatbed truck” image is marketing shorthand, not an engineering description of how these plants actually get built. For a fuller look at which small modular reactor stocks are actually investable today, the timing caveat is the whole point.

The urgency is also stale. The August catalyst the presentation leans on, the UK regulator’s final design review, has already passed by the time this article lands in late September. The tease is a July artifact resurfaced by a fresh comment thread, and “act now before August” is no longer a live deadline.

The one claim that holds up better than expected is the track record. Rahemtulla says Rolls-Royce delivered “as much as 11 times your money in four years,” and the documented return is actually higher, around 1,300% for buyers at the first tease. He is under-claiming his own win, which is a refreshing change from the usual direction of exaggeration.

What They Got Right

1. The track record is real. Rolls-Royce really did return roughly 1,300% from the 2022 tease, and Rahemtulla under-claims it at “11 times,” which is a mark of someone who does not need to inflate his own numbers.
2. The SMR thesis is a legitimate industrial story. Rolls-Royce has a real SMR design, real UK government support, and a real commercial pipeline. This is not a vaporware energy pitch.
3. Mirion’s moat is the real deal. Roughly 95% market share in nuclear radiation monitoring is a defensible position, and it is a genuinely good way to play nuclear growth without betting on a single reactor design.
4. The sleeve is diversified and mostly non-egregious. Mixing an engineering contractor, a safety-equipment maker, two producers, and a physical trust is a coherent way to express a nuclear view at different risk levels.

What They Got Wrong

1. The “secret” framing is false. Amentum’s Rolls-Royce SMR role was widely reported in January, months before this tease ran.
2. The market-cap math is materially off. “One seventh of a $47 billion backlog” implies roughly $6.7 billion, but the actual market cap is about $4.7 billion, closer to one-tenth.
3. The urgency is stale. The August catalyst the whole pitch is built around has already passed, and the article is a July teardown resurfaced by a comment thread, not a live deadline.
4. “Most investors have never heard its name” (CoreWeave) is false. CRWV was one of the most-watched AI-infrastructure IPOs of 2025 and a poster child for the circular-financing debate.
5. The “portable reactor on a truck” image oversells the engineering. Real SMRs are capital-intensive, decade-scale projects, and the cost advantages are still hypothetical until mass production is proven.

The Verdict

The nuclear thesis is real, and most of the names in this sleeve are legitimate businesses rather than shells. Amentum is a real engineering contractor with a real backlog. Mirion owns a genuine regulatory moat. Sprott Physical Uranium is a perfectly sensible, low-risk way to express a uranium view, and we covered how that trust works for readers who want the details. If you are bullish on the long, slow buildout of small modular reactors and the uranium supply chain that feeds them, these are the kinds of companies you would want on a watchlist.

The problem is the packaging. This is not a “secret” anything. The partner was public in January, the catalyst has already come and gone, and the single most persuasive number in the presentation, the market cap being “one seventh” of the backlog, is materially off. The CoreWeave bonus pick strains the whole thing further, because calling the most debated IPO in AI infrastructure a name “most investors have never heard” is hard to square with reality.

None of that makes the underlying idea bad. It makes the urgency fake, and it means the pitch is better read as a research list than as a countdown. Rahemtulla genuinely called Rolls-Royce, and he genuinely understands the nuclear story he is selling. But the honest version of this presentation would say “here are six ways to play a theme that will take a decade to develop,” not “act before August or you’ll miss it.”

This is not financial advice. NewsletterVetter has no position in any stock mentioned. Monument Trend Advisory is a paid subscription product, and the Energy Cube presentation is marketing for that product; its forward-looking claims about SMR economics, uranium supply, and data-center power demand are opinions and projections, not guarantees. Stock Gumshoe discloses that it owns long-term call options on Amentum and will not trade in any covered stock for at least three days after publication. Always do your own research before investing.