# U S GLOBAL INVESTORS INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 754811. Source: https://holderbook.com/funds/754811-u-s-global-investors-inc/

- Reported value: $1.0B
- Positions: 127
- Weight of the ten largest: 59.6%
- Filed: 2026-07-27

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AMERICAN AIRLINES GROUP INC | [AAL](https://holderbook.com/stocks/AAL/) | $108.4M | 6,001,172 | 10.4% | 31 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $106.2M | 780,724 | 10.2% | 31 |
| SOUTHWEST AIRLS CO | [LUV](https://holderbook.com/stocks/LUV/) | $102.1M | 1,985,637 | 9.8% | 31 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $100.7M | 1,075,013 | 9.7% | 31 |
| ALLEGIANT TRAVEL CO | [ALGT](https://holderbook.com/stocks/ALGT/) | $40.8M | 347,245 | 3.9% | 31 |
| FRONTIER GROUP HLDGS INC | [ULCC](https://holderbook.com/stocks/ULCC/) | $38.9M | 4,914,655 | 3.7% | 13 |
| JETBLUE AIRWAYS CORP | [JBLU](https://holderbook.com/stocks/JBLU/) | $34.4M | 5,996,231 | 3.3% | 31 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $33.4M | 639,713 | 3.2% | 31 |
| SKYWEST INC | [SKYW](https://holderbook.com/stocks/SKYW/) | $33.1M | 333,087 | 3.2% | 13 |
| AYA GOLD & SILVER INC | [AYA](https://holderbook.com/stocks/AYA/) | $21.3M | 1,125,000 | 2.0% | 1 |
| SABRE CORP | [SABR](https://holderbook.com/stocks/SABR/) | $20.7M | 9,885,943 | 2.0% | 7 |
| TRIPADVISOR INC | [TRIP](https://holderbook.com/stocks/TRIP/) | $19.1M | 1,393,974 | 1.8% | 21 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $18.9M | 73,940 | 1.8% | 21 |
| OR ROYALTIES INC. | [OR](https://holderbook.com/stocks/OR/) | $18.4M | 580,723 | 1.8% | 5 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $18.1M | 101,546 | 1.7% | 21 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $16.8M | 80,622 | 1.6% | 31 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $16.4M | 46,295 | 1.6% | 26 |
| TEXTRON INC | [TXT](https://holderbook.com/stocks/TXT/) | $16.3M | 177,167 | 1.6% | 21 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $16.2M | 74,907 | 1.6% | 15 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $15.7M | 139,426 | 1.5% | 31 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $13.9M | 878,486 | 1.3% | 18 |
| AMERICAS GOLD AND SILVER COR | [USAS](https://holderbook.com/stocks/USAS/) | $12.4M | 2,625,000 | 1.2% | 4 |
| LATAM AIRLINES GROUP SA | [LTM](https://holderbook.com/stocks/LTM/) | $9.4M | 161,198 | 0.9% | 5 |
| RYANAIR HOLDINGS PLC | [RYAAY](https://holderbook.com/stocks/RYAAY/) | $9.0M | 139,753 | 0.9% | 21 |
| ENDEAVOUR SILVER CORP | [EXK](https://holderbook.com/stocks/EXK/) | $8.6M | 1,043,200 | 0.8% | 8 |
| PAN AMERN SILVER CORP | [PAAS](https://holderbook.com/stocks/PAAS/) | $7.9M | 176,555 | 0.8% | 4 |
| VOX ROYALTY CORP | [VOXR](https://holderbook.com/stocks/VOXR/) | $7.9M | 1,662,000 | 0.8% | 15 |
| COEUR MNG INC | [CDE](https://holderbook.com/stocks/CDE/) | $7.2M | 439,303 | 0.7% | 12 |
| TRIP COM GROUP LTD | [TCOM](https://holderbook.com/stocks/TCOM/) | $7.0M | 175,270 | 0.7% | 20 |
| HARMONY GOLD MNG LTD | [HMY](https://holderbook.com/stocks/HMY/) | $6.5M | 428,647 | 0.6% | 31 |
| FORTUNA MNG CORP | [FSM](https://holderbook.com/stocks/FSM/) | $6.3M | 743,591 | 0.6% | 3 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $6.2M | 170,000 | 0.6% | 5 |
| ARIS MINING CORPORATION | [ARIS](https://holderbook.com/stocks/ARIS/) | $6.0M | 400,000 | 0.6% | 5 |
| MAKEMYTRIP LIMITED MAURITIUS | [MMYT](https://holderbook.com/stocks/MMYT/) | $5.3M | 99,379 | 0.5% | 12 |
| TRIPLE FLAG PRECIOUS METAL | [TFPM](https://holderbook.com/stocks/TFPM/) | $5.2M | 172,000 | 0.5% | 14 |
| CENTERRA GOLD INC | [CGAU](https://holderbook.com/stocks/CGAU/) | $4.7M | 300,000 | 0.5% | 3 |
| GRUPO AEROPORTUARIO DEL CENT | [OMAB](https://holderbook.com/stocks/OMAB/) | $4.7M | 41,857 | 0.5% | 4 |
| EMBRAER S.A. | [EMBJ](https://holderbook.com/stocks/EMBJ/) | $4.7M | 73,982 | 0.5% | 21 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $4.7M | 30,000 | 0.4% | 17 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $4.6M | 49,739 | 0.4% | 2 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $4.6M | 29,833 | 0.4% | 21 |
| GRUPO AEROPORTUARIO DEL SURE | [ASR](https://holderbook.com/stocks/ASR/) | $4.5M | 14,624 | 0.4% | 11 |
| METALLA RTY & STREAMING LTD | [MTA](https://holderbook.com/stocks/MTA/) | $4.3M | 558,500 | 0.4% | 4 |
| AVINO SILVER & GOLD MINES LT | [ASM](https://holderbook.com/stocks/ASM/) | $3.9M | 610,000 | 0.4% | 2 |
| VIZSLA SILVER CORP | [VZLA](https://holderbook.com/stocks/VZLA/) | $3.4M | 1,050,000 | 0.3% | 9 |
| AURA MINERALS INC | [AUGO](https://holderbook.com/stocks/AUGO/) | $3.1M | 50,000 | 0.3% | 4 |
| SSR MINING IN | [SSRM](https://holderbook.com/stocks/SSRM/) | $3.1M | 110,000 | 0.3% | 2 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $3.0M | 100,000 | 0.3% | 16 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $3.0M | 7,925 | 0.3% | 12 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.7M | 6,450 | 0.3% | 8 |
| ROYAL CARIBBEAN GROUP | [RCL](https://holderbook.com/stocks/RCL/) | $2.7M | 8,530 | 0.3% | 13 |
| SILVERCORP METALS INC | [SVM](https://holderbook.com/stocks/SVM/) | $2.5M | 250,000 | 0.2% | 31 |
| WOODSIDE ENERGY GROUP LTD | [WDS](https://holderbook.com/stocks/WDS/) | $2.4M | 125,000 | 0.2% | 3 |
| SIBANYE STILLWATER LTD | [SBSW](https://holderbook.com/stocks/SBSW/) | $2.3M | 275,000 | 0.2% | 5 |
| SANTACRUZ SILVER MNG LTD | [SCZM](https://holderbook.com/stocks/SCZM/) | $2.3M | 350,000 | 0.2% | 2 |
| VERSAMET ROYALTIES CORP | [VMET](https://holderbook.com/stocks/VMET/) | $2.1M | 250,000 | 0.2% | 2 |
| VIKING HOLDINGS LTD | [VIK](https://holderbook.com/stocks/VIK/) | $2.0M | 18,935 | 0.2% | 3 |
| MCEWEN INC. | [MUX](https://holderbook.com/stocks/MUX/) | $1.8M | 100,000 | 0.2% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.8M | 7,500 | 0.2% | 2 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $1.7M | 22,000 | 0.2% | 3 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $1.6M | 25,000 | 0.2% | 6 |
| HIGHLANDER SILVER CORP | [HSLV](https://holderbook.com/stocks/HSLV/) | $1.5M | 325,000 | 0.1% | 2 |
| CARNIVAL CORP LTD | [CCL](https://holderbook.com/stocks/CCL/) | $1.5M | 52,500 | 0.1% | 1 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $1.5M | 6,200 | 0.1% | 20 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $1.4M | 18,000 | 0.1% | 6 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.3M | 3,930 | 0.1% | 1 |
| HILTON WORLDWIDE HLDGS INC | [HLT](https://holderbook.com/stocks/HLT/) | $1.3M | 3,950 | 0.1% | 8 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $1.3M | 31,600 | 0.1% | 5 |
| BLUE MOON METALS INC | [BMM](https://holderbook.com/stocks/BMM/) | $1.3M | 200,000 | 0.1% | 2 |
| OCEANAGOLD CORP | [OGC](https://holderbook.com/stocks/OGC/) | $1.3M | 50,000 | 0.1% | 1 |
| LAUDER ESTEE COS INC | [EL](https://holderbook.com/stocks/EL/) | $1.2M | 15,800 | 0.1% | 11 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.2M | 8,500 | 0.1% | 8 |
| HECLA MINING COMPANY | [HL](https://holderbook.com/stocks/HL/) | $1.2M | 75,000 | 0.1% | 2 |
| UBS GROUP AG | [UBS](https://holderbook.com/stocks/UBS/) | $1.1M | 22,300 | 0.1% | 3 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $1.1M | 1,000 | 0.1% | 3 |
| TOLL BROTHERS INC | [TOL](https://holderbook.com/stocks/TOL/) | $1.0M | 6,300 | 0.1% | 2 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $945.0K | 2,550 | 0.1% | 3 |
| DHT HOLDINGS INC | [DHT](https://holderbook.com/stocks/DHT/) | $896.5K | 54,236 | 0.1% | 2 |
| INTERNATIONAL SEAWAYS INC | [INSW](https://holderbook.com/stocks/INSW/) | $852.4K | 11,130 | 0.1% | 1 |
| GOLD FIELDS LTD | [GFI](https://holderbook.com/stocks/GFI/) | $839.8K | 25,000 | 0.1% | 7 |
| LAS VEGAS SANDS CORP | [LVS](https://holderbook.com/stocks/LVS/) | $817.6K | 17,700 | 0.1% | 3 |
| ANGLOGOLD ASHANTI PLC | [AU](https://holderbook.com/stocks/AU/) | $808.9K | 10,000 | 0.1% | 12 |
| INTEGRA RES CORP | [ITRG](https://holderbook.com/stocks/ITRG/) | $794.5K | 350,000 | 0.1% | 5 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $741.3K | 6,300 | 0.1% | 1 |
| MAKO MNG CORP | [MAKO](https://holderbook.com/stocks/MAKO/) | $733.9K | 100,000 | 0.1% | 2 |
| SUNSHINE SILVER MNG & REFNG | - | $727.1K | 55,000 | 0.1% | 1 |
| GLOBAL SHIP LEASE INC | [GSL](https://holderbook.com/stocks/GSL/) | $705.6K | 18,766 | 0.1% | 5 |
| SCORPIO TANKERS INC | [STNG](https://holderbook.com/stocks/STNG/) | $656.6K | 9,480 | 0.1% | 1 |
| PERPETUA RESOURCES CORP | [PPTA](https://holderbook.com/stocks/PPTA/) | $622.8K | 30,000 | 0.1% | 8 |
| TEEKAY CORPORATION LTD | [TK](https://holderbook.com/stocks/TK/) | $610.1K | 61,009 | 0.1% | 2 |
| OSISKO DEVELOPMENT CORP | [ODV](https://holderbook.com/stocks/ODV/) | $606.9K | 250,000 | 0.1% | 6 |
| TAPESTRY INC | [TPR](https://holderbook.com/stocks/TPR/) | $592.1K | 4,045 | 0.1% | 5 |
| BW LPG LTD | [BWLP](https://holderbook.com/stocks/BWLP/) | $590.9K | 33,953 | 0.1% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $578.7K | 2,000 | 0.1% | 1 |
| ZTO EXPRESS CAYMAN INC | [ZTO](https://holderbook.com/stocks/ZTO/) | $543.7K | 24,296 | 0.1% | 18 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $541.2K | 5,034 | 0.1% | 18 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $535.6K | 3,286 | 0.1% | 18 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $506.6K | 1,618 | 0.0% | 18 |
| IVANHOE ELECTRIC INC | [IE](https://holderbook.com/stocks/IE/) | $494.9K | 51,499 | 0.0% | 17 |
| COLLECTIVE MINING LTD | [CNL](https://holderbook.com/stocks/CNL/) | $429.7K | 35,000 | 0.0% | 8 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +19.5% | +14.8% | +4.7% | 100% |
| Q1 2026 | -6.9% | -4.6% | -2.2% | 100% |
| Q4 2025 | +13.8% | +2.4% | +11.4% | 99% |
| Q3 2025 | +14.4% | +7.8% | +6.6% | 100% |
| Q2 2025 | +8.1% | +10.5% | -2.3% | 98% |
| Q1 2025 | -15.4% | -4.6% | -10.9% | 100% |
| Q4 2024 | +23.0% | +2.1% | +20.8% | 100% |
| Q3 2024 | +7.2% | +5.4% | +1.7% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.0B | 127 |
| Q1 2026 | $857.6M | 135 |
| Q4 2025 | $934.0M | 129 |
| Q3 2025 | $885.8M | 133 |
| Q2 2025 | $850.3M | 137 |
| Q1 2025 | $757.4M | 138 |
| Q4 2024 | $1.0B | 127 |
| Q3 2024 | $1.0B | 130 |
| Q2 2024 | $1.1B | 127 |
| Q1 2024 | $1.2B | 144 |
| Q4 2023 | $1.5B | 142 |
| Q3 2023 | $1.2B | 126 |