Global X reveals 13.6M-share Energy Fuels (UUUU) position via ETF stake

Rhea-AI Filing Summary

Energy Fuels Inc. received a new large-holder disclosure from Global X Management Company LLC. Global X reports beneficial ownership of 13,635,299 common shares of Energy Fuels, representing 5.75% of the class as of the event date. Global X is the investment adviser to the Global X Uranium ETF, which actually holds the shares and receives all dividends and sale proceeds. Global X has sole voting and dispositive power over these shares but states they were acquired and are held in the ordinary course of business, not to change or influence control of Energy Fuels.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ENERGY FUELS INC

(Name of Issuer)

Common Shares

(Title of Class of Securities)

292671708

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 292671708

1

Names of Reporting Persons

Global X Management CO LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,635,299.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,635,299.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,635,299.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.75 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ENERGY FUELS INC
(b)	Address of issuer's principal executive offices: 225 Union Blvd., Suite 600, Lakewood, Colorado, 80228
Item 2.
(a)	Name of person filing: Global X Management Company LLC ("GXMC")
(b)	Address or principal business office or, if none, residence: 605 3rd Avenue, 43rd Floor New York, NY 10158
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 292671708
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information in items 1 and 5 through 11 on the cover pages (p. 2) on Schedule 13G is hereby incorporated by reference. GXMC is a registered investment adviser that furnishes investment advice to the Global X Uranium ETF (the "Fund"), a separate series of Global X Funds, an investment company registered under Section 8 of the Investment Company Act of 1940. As a result of its role as investment adviser to the Fund, GXMC may be deemed to be the beneficial owner of shares of Energy Fuels Inc. held by the Fund. However, GXMC does not have the right to receive any dividends from, or the proceeds from the sale of, the securities held in the Fund and disclaims any ownership associated with such rights.
(b)	Percent of class: 5.75 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 13,635,299.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 13,635,299
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Global X Uranium ETF, set forth in Item 4 above, has the right to receive all dividends from, and the proceeds from the sale of, the securities held in its respective account. These shares were acquired in the ordinary course of business, and not with the purpose of changing or influencing control of the issuer.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Global X Management CO LLC

Signature:	/s/ Ryan O'Connor
Name/Title:	Ryan O'Connor, Chief Executive Officer
Date:	02/17/2026

FAQ

What stake in Energy Fuels Inc. (UUUU) does Global X report in this Schedule 13G?

Global X reports beneficial ownership of 13,635,299 Energy Fuels common shares, representing 5.75% of the outstanding class. This level of ownership requires a Schedule 13G filing to disclose the position under U.S. securities regulations.

Who actually holds the Energy Fuels (UUUU) shares reported by Global X Management Company LLC?

The shares are held by the Global X Uranium ETF, a series of Global X Funds. Global X Management Company LLC advises the fund and may be deemed a beneficial owner, but the ETF has the right to all dividends and sale proceeds from the securities.

Does Global X intend to influence control of Energy Fuels Inc. (UUUU) with this 5.75% position?

Global X certifies the shares were acquired and are held in the ordinary course of business. It specifically states they were not acquired and are not held for the purpose of changing or influencing control of Energy Fuels Inc.

What voting and dispositive powers does Global X report over Energy Fuels (UUUU) shares?

Global X reports sole power to vote or direct the vote over 13,635,299 shares and sole power to dispose or direct the disposition of 13,635,299 shares. It reports no shared voting or shared dispositive power over Energy Fuels shares.

Why is Global X Management Company LLC considered a beneficial owner of Energy Fuels (UUUU) shares?

Global X is investment adviser to the Global X Uranium ETF, which holds Energy Fuels shares. Because it can vote and dispose of those shares for the fund, it may be deemed a beneficial owner, even though it disclaims economic rights like dividends and sale proceeds.

On what date did Global X’s Energy Fuels (UUUU) holdings trigger this Schedule 13G filing?

The date of the event requiring the filing is listed as December 31, 2025. As of that date, Global X’s reportable beneficial ownership in Energy Fuels common shares reached the disclosed 5.75% level.