U S GLOBAL INVESTORS INC

Registered adviser

CIK

754811

Location

SAN ANTONIO, TX

Portfolio Value

Mid $1,004,662,917

Diversification

Diversified

Filing Date

Global Rank

#2,456 / 8,818 ▲ 84 · as of Jun 2026

Top Industry

Airlines 53.4%

Period ended 28 days ago

Filed Oct 22, 2026 · 6d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 111097

Roster of Oct 1, 2026

Regulatory AUM

$1,671,990,540

Main clients

Registered funds and BDCs (99% of AUM)

Registered funds advised

10 series (2 index, 4 ETFs)

$1,367,750,774 net assets· N-CEN Dec 31, 2025

SIC code

6282

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Oct 2026	$1,671,990,540	Registered funds and BDCs (99%)
Dec 2025 to Sep 2026	$1,323,872,389	Registered funds and BDCs (98%)
Oct 2024 to Sep 2025	$1,562,478,832	Registered funds and BDCs (100%)
Oct 2023 to Sep 2024	$2,370,216,554	Registered funds and BDCs (100%)
May 2023 to Sep 2023	$4,229,265,159	Registered funds and BDCs (100%)
Oct 2021 to Apr 2023	$4,229,265,159	Registered funds and BDCs (100%)

2 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 59.5%, 19.6 effective positions, active share 96.7% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

52.1% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 19.5 quarters (12+), a floor since 56.1% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 96.7%; sector active share 76.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

137 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

9.4%

−1.0 pts

Top 5

39.6%

−4.5 pts

Top 10

52.9%

−6.6 pts

HHI

424

Diversified−85

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Industrials	59.2%	$595,019,217	28
Basic Materials	28.6%	$287,715,672	55
Consumer Cyclical	7.4%	$74,566,071	21
Energy	2.0%	$20,365,149	24
Technology	1.6%	$15,688,583	1
Unclassified	0.7%	$6,907,075	3
Financial Services	0.3%	$2,544,611	3
Consumer Defensive	0.2%	$1,856,539	2

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ITRG	Integra Resources Corp.	+2,051,982	2,401,982	$6,173,093
AAL	American Airlines Group Inc.	+786,283	6,787,455	$90,748,273
JBLU	Jetblue Airways Corp	+505,067	6,501,298	$27,500,490
TRIP	TripAdvisor, Inc.	+446,255	1,840,229	$15,402,716
CDE	Coeur Mining, Inc.	+308,292	747,595	$13,157,671
ULCC	Frontier Group Holdings, Inc.	+301,543	5,216,198	$31,140,702
LUV	Southwest Airlines Co	+275,204	2,260,841	$94,141,419
MUX	McEwen Inc.	+220,914	320,914	$5,728,314
GFI	Gold Fields Ltd	+183,031	208,031	$7,514,079
ALK	Alaska Air Group, Inc.	+88,966	728,679	$28,199,877
RGLD	Royal Gold Inc	+82,198	83,453	$19,694,908
TFPM	Triple Flag Precious Metals Corp.	+81,667	253,667	$7,815,480
AU	AngloGold Ashanti PLC	+60,364	70,364	$6,610,697
SSRM	Ssr Mining Inc.	+40,000	150,000	$4,998,000
ALGT	Allegiant Travel CO	+36,953	384,198	$29,118,366
TCOM	Trip.com Group Ltd	+34,535	209,805	$8,203,375
REAL	TheRealReal, Inc.	+30,000	62,000	$548,080
TXT	Textron Inc	+27,806	204,973	$15,618,942
UAL	United Airlines Holdings, Inc.	+27,479	808,203	$89,670,122
HAFN	Hafnia Ltd	+27,335	77,419	$769,544
VMET	Versamet Royalties Corp	+25,000	275,000	$2,420,000
DAL	Delta Air Lines, Inc.	+24,962	1,099,975	$91,803,913
BMM	Blue Moon Metals Inc.	+20,000	220,000	$1,104,400
RYAAY	Ryanair Holdings PLC	+13,396	153,149	$8,424,726
LVS	Las Vegas Sands Corp	+11,000	28,700	$1,085,147
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SABR	Sabre Corp	−2,485,668	7,400,275	$15,688,583
EXK	Endeavour Silver Corp	−748,000	295,200	$2,532,816
AYA	Aya Gold & Silver Inc.	−550,000	575,000	$15,467,500
ASM	Avino Silver & Gold Mines Ltd	−510,000	100,000	$555,000
OR	OR Royalties Inc.	−259,439	321,284	$11,032,892
HMY	Harmony Gold Mining Co Ltd	−118,063	310,584	$5,503,548
PAAS	Pan American Silver Corp	−88,000	88,555	$4,030,138
FSM	Fortuna Mining Corp.	−35,740	707,851	$7,956,245
SKYW	Skywest Inc	−27,957	305,130	$29,573,199
MTA	Metalla Royalty & Streaming Ltd.	−27,000	531,500	$5,006,730
AUGO	Aura Minerals Inc.	−25,000	25,000	$1,967,000
USAS	Americas Gold & Silver Corp	−25,000	2,600,000	$11,336,000
EMBJ	Embraer S.A.	−19,719	54,263	$4,087,089
VIK	Viking Holdings Ltd	−16,700	2,235	$175,067
MMYT	MakeMyTrip Ltd	−16,678	82,701	$3,903,487
EXPE	Expedia Group, Inc.	−15,295	58,645	$15,444,747
DHT	DHT Holdings, Inc.	−12,519	41,717	$941,552
LTH	Life Time Group Holdings, Inc.	−12,500	19,100	$761,708
GSL	Global Ship Lease, Inc.	−11,089	7,677	$338,862
CNL	Collective Mining Ltd.	−10,000	25,000	$306,500
TK	Teekay Corp Ltd	−8,849	52,160	$743,280
BKNG	Booking Holdings Inc.	−8,367	93,179	$15,179,790
BWLP	BW LPG Ltd	−5,792	28,161	$705,433
SSMR	Sunshine Silver Mining & Refining Co	−5,000	50,000	$736,000
INSW	International Seaways, Inc.	−4,214	6,916	$761,728
No positions match the current search.

New Positions

Positions the filer opened this quarter

21 positions

Ticker	Company	Shares	Value
KGC	Kinross Gold Corp	389,004	$9,367,216
ELE	Elemental Royalty Corp	470,694	$8,990,255
GROY	Gold Royalty Corp.	1,708,319	$5,124,957
BVN	Buenaventura Mining Co Inc	123,572	$3,902,403
SIL	Global X Silver Miners ETF	40,000	$3,440,400
GDXJ	VanEck Junior Gold Miners ETF	29,800	$3,395,710
EGO	Eldorado Gold Corp	75,000	$2,886,750
GS	Goldman Sachs Group Inc	1,500	$1,350,540
ECO	Okeanis Eco Tankers Corp.	12,363	$999,919
AUXX	Gold X2 Mining Inc.	200,000	$974,000
FRO	Frontline plc	14,847	$731,511
NCLH	Norwegian Cruise Line Holdings Ltd.	44,500	$652,370
ASC	Ardmore Shipping Corp	18,942	$353,457
SA	Seabridge Gold Inc	12,000	$340,080
MATX	Matson, Inc.	1,527	$335,390
MPC	Marathon Petroleum Corp	800	$316,336
PSX	Phillips 66	1,200	$306,372
DINO	HF Sinclair Corp	2,500	$268,300
RL	Ralph Lauren Corp	650	$230,795
SLI	Standard Lithium Ltd.	110,000	$201,300
GAU	Galiano Gold Inc.	70,000	$135,800
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
NEM	NEWMONT Corp	49,739	$4,645,622
AMZN	Amazon Com Inc	7,500	$1,787,550
AXP	American Express Co	3,930	$1,329,322
CAT	Caterpillar Inc	1,000	$1,064,900
BX	Blackstone Inc.	6,300	$741,321
AAPL	Apple Inc.	2,000	$578,720
EFXT	Enerflex Ltd.	17,000	$416,670
MWH	SOLV Energy, Inc.	12,000	$408,600
ESEA	Euroseas Ltd.	5,000	$331,850
FRVO	Fervo Energy Co	10,000	$292,300
AEP	American Electric Power Co Inc	2,000	$273,620
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

137 tracked positions · $1,004,662,917 total · filing declares 163 positions · $1,004,780,978 · as of Sep 30, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Technology

Showing 1–50 of 137 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
LUV	Southwest Airlines Co Industrials	Added	2,260,841	+275,204	$94,141,419	−7.8%	9.37%
DAL	Delta Air Lines, Inc. Industrials	Added	1,099,975	+24,962	$91,803,913	−8.8%	9.14%
AAL	American Airlines Group Inc. Industrials	Added	6,787,455	+786,283	$90,748,273	−16.3%	9.03%
UAL	United Airlines Holdings, Inc. Industrials	Added	808,203	+27,479	$89,670,122	−15.5%	8.93%
ULCC	Frontier Group Holdings, Inc. Industrials	Added	5,216,198	+301,543	$31,140,702	−19.9%	3.10%
SKYW	Skywest Inc Industrials	Reduced	305,130	-27,957	$29,573,199	−10.6%	2.94%
ALGT	Allegiant Travel CO Industrials	Added	384,198	+36,953	$29,118,366	−28.7%	2.90%
ALK	Alaska Air Group, Inc. Industrials	Added	728,679	+88,966	$28,199,877	−15.6%	2.81%
JBLU	Jetblue Airways Corp Industrials	Added	6,501,298	+505,067	$27,500,490	−20.0%	2.74%
RGLD	Royal Gold Inc Basic Materials	Added	83,453	+82,198	$19,694,908	+7761.9%	1.96%
FNV	FRANCO NEVADA Corp Basic Materials	Added	81,700	+1,078	$19,453,586	+15.8%	1.94%
WPM	Wheaton Precious Metals Corp. Basic Materials	Reduced	138,444	-982	$18,512,731	+18.2%	1.84%
IAG	Iamgold Corp Basic Materials	Added	887,130	+8,644	$16,332,063	+17.4%	1.63%
SABR	Sabre Corp Technology	Reduced	7,400,275	-2,485,668	$15,688,583	−24.1%	1.56%
TXT	Textron Inc Industrials	Added	204,973	+27,806	$15,618,942	−3.9%	1.55%
AYA	Aya Gold & Silver Inc. Basic Materials	Reduced	575,000	-550,000	$15,467,500	−27.4%	1.54%
EXPE	Expedia Group, Inc. Consumer Cyclical	Reduced	58,645	-15,295	$15,444,747	−18.4%	1.54%
TRIP	TripAdvisor, Inc. Consumer Cyclical	Added	1,840,229	+446,255	$15,402,716	−19.4%	1.53%
GD	General Dynamics Corp Industrials	Reduced	45,826	-469	$15,206,441	−7.3%	1.51%
BKNG	Booking Holdings Inc. Consumer Cyclical	Reduced	93,179	-8,367	$15,179,790	−16.1%	1.51%
BA	Boeing Co Industrials	Added	79,260	+4,353	$14,746,323	−9.1%	1.47%
CDE	Coeur Mining, Inc. Basic Materials	Added	747,595	+308,292	$13,157,671	+83.5%	1.31%
USAS	Americas Gold & Silver Corp Basic Materials	Reduced	2,600,000	-25,000	$11,336,000	−8.5%	1.13%
OR	OR Royalties Inc. Basic Materials	Reduced	321,284	-259,439	$11,032,892	−39.9%	1.10%
KGC	Kinross Gold Corp Basic Materials	NEW	389,004	NEW	$9,367,216	NEW	0.93%
ELE	Elemental Royalty Corp Basic Materials	NEW	470,694	NEW	$8,990,255	NEW	0.89%
RYAAY	Ryanair Holdings PLC Industrials	Added	153,149	+13,396	$8,424,726	−6.9%	0.84%
VOXR	Vox Royalty Corp. Basic Materials	Held	1,662,000	0	$8,343,240	+6.1%	0.83%
TCOM	Trip.com Group Ltd Consumer Cyclical	Added	209,805	+34,535	$8,203,375	+17.5%	0.82%
LTM	Latam Airlines Group S.A. Industrials	Reduced	160,165	-1,033	$7,990,631	−14.9%	0.80%
FSM	Fortuna Mining Corp. Basic Materials	Reduced	707,851	-35,740	$7,956,245	+26.6%	0.79%
TFPM	Triple Flag Precious Metals Corp. Basic Materials	Added	253,667	+81,667	$7,815,480	+51.6%	0.78%
GFI	Gold Fields Ltd Basic Materials	Added	208,031	+183,031	$7,514,079	+794.8%	0.75%
ARIS	Aris Mining Corp Basic Materials	Held	400,000	0	$6,960,000	+16.7%	0.69%
B	Barrick Mining Corp Basic Materials	Held	170,000	0	$6,913,900	+10.7%	0.69%
AU	AngloGold Ashanti PLC Basic Materials	Added	70,364	+60,364	$6,610,697	+717.2%	0.66%
CGAU	Centerra Gold Inc. Basic Materials	Held	300,000	0	$6,534,000	+37.3%	0.65%
ITRG	Integra Resources Corp. Basic Materials	Added	2,401,982	+2,051,982	$6,173,093	+677.0%	0.61%
MUX	McEwen Inc. Basic Materials	Added	320,914	+220,914	$5,728,314	+216.0%	0.57%
HMY	Harmony Gold Mining Co Ltd Basic Materials	Reduced	310,584	-118,063	$5,503,548	−15.6%	0.55%
AEM	Agnico Eagle Mines Ltd Basic Materials	Held	30,000	0	$5,498,100	+18.1%	0.55%
GROY	Gold Royalty Corp. Basic Materials	NEW	1,708,319	NEW	$5,124,957	NEW	0.51%
MTA	Metalla Royalty & Streaming Ltd. Basic Materials	Reduced	531,500	-27,000	$5,006,730	+17.8%	0.50%
SSRM	Ssr Mining Inc. Basic Materials	Added	150,000	+40,000	$4,998,000	+60.7%	0.50%
CPA	Copa Holdings, S.A. Industrials	Added	31,516	+1,683	$4,155,384	−10.5%	0.41%
EMBJ	Embraer S.A. Industrials	Reduced	54,263	-19,719	$4,087,089	−13.4%	0.41%
PAAS	Pan American Silver Corp Basic Materials	Reduced	88,555	-88,000	$4,030,138	−49.0%	0.40%
OMAB	Central North Airport Group Industrials	Reduced	41,326	-531	$3,992,504	−15.7%	0.40%
VZLA	Vizsla Silver Corp. Basic Materials	Held	1,050,000	0	$3,979,500	+14.8%	0.40%
MMYT	MakeMyTrip Ltd Consumer Cyclical	Reduced	82,701	-16,678	$3,903,487	−26.3%	0.39%

Showing the top 50 of 137 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.