40 million units would place URA ETF in 2nd highest ASN holder,...

40 million units would place URA ETF in 2nd highest ASN holder, but I don't believe they can achieve that without aggressively buying at top prices.

If anything from their current holdings could give some indication how much ASN they will hold (there has to be a formula based on the target holding market cap etc..), below is URA ETF top holdings.

If they are to spend $2m (assuming AUD but they list below would be in USD), they would need to collect 8m ASN at today's closing price.

Top HoldingsAs of 01/23/23

FULL HOLDINGS (.CSV)

	Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
1	22.34	CCO CN	CAMECO CORP	2166160	26.85	14,190,949	381,013,482.89
2	8.29	U-U CN	SPROTT PHYSICAL	BNZKG52	12.15	11,634,976	141,322,539.90
3	6.60	KAP LI	NAC KAZATOG-REGS	BGXQL36	33.20	3,391,561	112,599,825.20
4	5.78	NXE CN	NEXGEN ENERGY LTD	B987K72	4.67	21,083,981	98,497,500.65
5	4.41	PDN AU	PALADIN ENERGY LTD	6668468	0.55	137,120,952	75,236,775.23
6	3.86	UEC	URANIUM ENERGY CORP	B0VLLY2	3.87	17,013,625	65,842,728.75
7	3.42	DML CN	DENISON MINES CORP	2003223	1.37	42,576,965	58,239,597.82
8	3.37	EFR CN	ENERGY FUELS INC	BFV4XV7	7.10	8,089,251	57,441,330.87
9	2.54	YCA LN	YELLOW CAKE PLC	BF50RG4	4.86	8,914,792	43,343,683.19
10	2.36	RIO LN	RIO TINTO PLC	0718875	77.31	519,695	40,177,333.63
11	2.34	BHP AU	BHP GROUP LTD	6144690	34.75	1,149,703	39,952,537.12
12	2.19	8053 JP	SUMITOMO CORP	6858946	17.46	2,134,029	37,256,674.71
13	2.15	SSW SJ	SIBANYE STILLWATER LTD	BL0L913	2.84	12,925,526	36,685,568.37
14	1.90	8001 JP	ITOCHU CORP	6467803	31.60	1,023,198	32,335,015.07
15	1.87	028260 KS	SAMSUNG C&T CORP	BSXN8K7	96.73	330,436	31,961,715.97
16	1.86	MQG AU	MACQUARIE GROUP LTD	B28YTC2	128.11	247,192	31,668,230.93
17	1.85	000720 KS	HYUNDAI ENG&CONS	6450988	31.24	1,009,133	31,529,024.89
18	1.77	7011 JP	MITSUBISHI HEAVY	6597067	37.67	800,475	30,149,948.33
19	1.68	BOE AU	BOSS ENERGY LTD	B1XLCQ6	1.73	16,556,793	28,651,217.16
20	1.65	034020 KS	DOOSAN ENERBILITY CO	6294670	13.15	2,138,761	28,131,341.82
21	1.63	1816 HK	CGN POWER CO LTD-H	BSBMM04	0.25	112,227,986	27,804,924.79
22	1.61	047040 KS	DAEWOO ENG & CON	6344122	3.76	7,289,705	27,407,567.87
23	1.53	006360 KS	GS ENGINEERING	6537096	19.30	1,347,611	26,015,235.22
24	1.48	ARE CN	AECON GROUP INC	2699547	8.09	3,120,211	25,235,028.61
25	1.41	GLO CN	GLOBAL ATOMIC CORP	BF11BK3	3.01	7,990,500	24,069,749.97
26	1.22	LEU	CENTRUS ENERGY-A	BQXKDH6	37.02	564,054	20,881,279.08
27	1.17	FCU CN	FISSION URANIUM CORP	B94QMQ6	0.67	30,099,336	20,023,477.25
28	1.03	DYL AU	DEEP YELLOW LTD	6480275	0.57	30,704,007	17,494,914.55
29	0.85	EU CN	ENCORE ENERGY CORP	BN48958	2.73	5,280,087	14,405,439.28
30	0.81	URG	UR-ENERGY INC	B0WW4L2	1.25	11,078,220	13,847,775.00
31	0.80	1164 HK	CGN MINING CO LTD	B755514	0.13	108,498,500	13,579,026.48
32	0.62	URC CN	URANIUM ROYALTY CORP	BKMD921	2.65	4,024,539	10,649,077.30
33	0.58	BMN AU	BANNERMAN ENERGY LTD	B07DXJ1	1.34	7,315,288	9,828,710.57
34	0.36	ISO CN	ISOENERGY LTD	BD5FYX1	2.26	2,712,478	6,123,020.94
35	0.34	LOT AU	LOTUS RESOURCES LTD	BK6XLC1	0.17	34,687,561	5,734,207.13
36	0.32	PEN AU	PENINSULA ENERGY LTD	6486381	0.11	49,494,392	5,396,590.22
37	0.27	AGE AU	ALLIGATOR ENERGY LTD	B55ZH25	0.03	156,997,292	4,528,014.08
38	0.24	GXU CN	GOVIEX URANIUM INC	BNGCT03	0.17	23,678,741	4,070,793.01
39	0.21	FSY CN	FORSYS METALS CORP	2597801	0.37	9,922,859	3,634,339.36
40	0.20	LAM CN	LARAMIDE RESOURCES	2507952	0.35	9,704,820	3,409,399.71
41	0.20		CASH		1.00	3,399,277	3,399,276.99
42	0.20	EL8 AU	ELEVATE URANIUM LTD	BM8ZH21	0.30	11,471,275	3,389,165.15
43	0.18	AEE AU	AURA ENERGY LTD	B14Z2S9	0.24	12,669,027	2,985,518.86
44	0.17	MGA CN	MEGA URANIUM LTD	2817833	0.17	16,725,472	2,875,403.49
45	0.16	BKY SM	BERKELEY ENERGIA LTD	BYVQC08	0.23	12,201,602	2,783,968.12
46	0.12	SYH CN	SKYHARBOUR RESOURCES LTD	BDFGHL3	0.31	6,732,556	2,113,595.34
47	0.09	WUC CN	WESTERN URANIUM	BF39VJ4	0.87	1,851,362	1,605,247.17
48	0.00		CANADIAN DOLLAR		0.75	9,521	7,116.35
49	0.00		HONG KONG DOLLAR		0.17	0	0.02
50	0.00		KOREAN WON		0.00	-3	0.00
51	0.00		BRITISH STERLING POUND		1.00	0	-0.01
52	0.00		SOUTH AFRICAN RAND		0.07	0	-0.03
53	0.00		EURO		1.08	0	-0.52