U S Global Investors Inc.
U.S. Global Investors, Inc. is a publicly owned investment manager headquartered in San Antonio, Texas. Founded in 1968, it operates as a registered investment adviser under the Investment Advisers Act of 1940, serving both individual and institutional investors as well as investment companies. The firm manages and launches equity and balanced funds, fixed income funds, hedge funds, mutual funds, and ETFs. It traditionally focuses on gold mining, natural resources, and emerging markets, with recent increased involvement in the airline industry. U.S. Global Investors employs approximately 24–26 staff.
Investment Strategy
U.S. Global Investors offers investment management services to mutual fund and ETF clients, providing tailored investment advisory programs consistent with each client's goals, restrictions, and policies. The firm’s portfolio teams actively determine asset allocation and select investments, focusing on optimizing overall terms and execution. The company has a strong emphasis on gold mining and exploration, natural resources, and emerging markets, but has recently expanded into the airline industry. These markets are volatile, and the firm adjusts its strategies dynamically to market cycles and industry trends. Investment income and advisory fees are key revenue drivers, with the product mix influencing fee levels.
Latest 13F Filing Activity
U S Global Investors Inc. filed their most recent 13F report on Sep 30, 2025 disclosing 129 equity positions and 3 options positions with a total 13F market value of $886M. The fund increased holdings in Or Royalties Inc., SSR Mining in, Gold Fields LTD among other positions. U S Global Investors Inc. reduced exposure to Royal Gold Inc., American Airline, United Airlines among others.
Top Holdings
Equity Positions (129)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
L LUV | SOUTHWEST AIR | 9.59% | $85.0M | 2,663,281 | $38.77 | $31.91 | -$1.2M |
D DAL | DELTA AIR LI | 8.72% | $77.2M | 1,361,033 | $36.14 | $56.75 | -$9.6M |
U UAL | UNITED AIRLINES | 8.50% | $75.3M | 780,183 | $42.25 | $96.50 | -$12.5M |
A AAL | AMERICAN AIRLINE | 8.23% | $72.9M | 6,485,318 | $14.46 | $11.24 | -$13.7M |
O OR | OR ROYALTIES INC | 4.21% | $37.3M | 931,076 | $31.21 | $40.08 | +$22.5M |
Options Positions (3)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
B B | BARRICK GOLD CORP | — | Call | $1.8M | 12 | $32.77 | $20.82 | 0 | +$1.2M |
N NEM | NEWMONT CORP | — | Call | $1.4M | 3 | $84.31 | $53.45 | 0 | +$765.5K |
T TSLA | TESLA INC | New | Call | $268.6K | 1 | $444.72 | $444.72 | +0.6 | +$268.6K |
Industry Allocation
Investment Team (8)
| Name | Role | Location | |
|---|---|---|---|
 | CEO and Chief Investment Officer | San Antonio, TX , United States | |
 | Head Trader | San Antonio, TX , United States | |
R Ralph Aldis | Portfolio Manager | TX , United States | |
| Investment Analyst | San Antonio, TX , United States | ||
 | Head Trader | San Antonio, TX , United States | |
 | Investment Analyst | San Antonio, TX , United States | |
 | Analyst | San Antonio, TX , United States | |
 | Trader | San Antonio, TX , United States |