Abstract: This technical report contains a description of the nuclear analysis performed upon the SM-2 core and vessel for the period September 1, 1958 to December 31, 1959. Calculations are given for core reactivity, power distributions, lifetime, reactor control, kinetics, radiation problems, fuel and poison burn-ups, and the nuclear effects of poisons, temperature, and geometry. Wherever possible, experimental data is included in order to test the validity of the analytical models. The SM-2 nuclear analysis was performed by Alco Products, in. under Tasks 1, 8, and 10 of Contract No. AT(30-2)-326 for the Atomic Energy Commission.