Q2 2026 13F · SEC CIK 754811

U S Global Investors Inc

Mutual fund managerFiled 2026-07-27 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.0B
Reported positions: 127
Top holdings a year, 3 yrs: +19.2%
Assets under management: $1.7B

U S Global Investors Inc is a mutual fund manager that reported 127 positions worth $1.0B in its Q2 2026 13F, filed 2026-07-27. Its largest holdings were American Airlines Group Inc (AAL, 10.4%), United Airls Hldgs Inc (UAL, 10.2%), Southwest Airls Co (LUV, 9.8%). A portfolio copying its top holdings returned 19.2% a year over the last 3 years, against 20.4% for the S&P 500.

U S Global Investors Inc holdings largest 50 of 127 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

U S Global Investors Inc 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
AALAmerican Airlines Group Inc	10.4%	8.1%	6,001,172	-6.7%	$108.4M
UALUnited Airls Hldgs Inc	10.2%	8.4%	780,724	-0.5%	$106.2M
LUVSouthwest Airls Co	9.8%	7.3%	1,985,637	+19.0%	$102.1M
DALDelta Air Lines Inc Com New	9.7%	9.1%	1,075,013	-8.3%	$100.7M
ALGTAllegiant Travel Co	3.9%	2.8%	347,245	+16.0%	$40.8M
ULCCFrontier Group Hldgs Inc	3.7%	2.8%	4,914,655	-27.5%	$38.9M
JBLUJetblue Airways Corp	3.3%	2.9%	5,996,231	+8.2%	$34.4M
ALKAlaska Air Group Inc	3.2%	2.6%	639,713	+7.2%	$33.4M
SKYWKywest Inc	3.2%	2.8%	333,087	+29.3%	$33.1M
AYASFAya Gold & Silver Inc	2.0%	—	1,125,000	—	$21.3M
SABRSabre Corp	2.0%	1.3%	9,885,943	+31.2%	$20.7M
TRIPTripadvisor Inc	1.8%	1.7%	1,393,974	+1.5%	$19.1M
EXPEExpedia Group Inc	1.8%	1.5%	73,940	+32.0%	$18.9M
OROr Royalties Inc.	1.8%	2.4%	580,723	+8.6%	$18.4M
BKNGBooking Holdings Inc Com	1.7%	1.5%	101,546	+3275.9%	$18.1M
FNVFranco Nev Corp	1.6%	2.4%	80,622	-4.5%	$16.8M
GDGeneral Dynamics Corp	1.6%	1.4%	46,295	+28.3%	$16.4M
TXTTextron Inc	1.6%	1.4%	177,167	+26.6%	$16.3M
BABoeing Co	1.6%	1.5%	74,907	+19.7%	$16.2M
WPMWheaton Precious Metals	1.5%	0.4%	139,426	+379.7%	$15.7M
IAGIamgold Corporation	1.3%	2.1%	878,486	-9.6%	$13.9M
USASAmericas Gold and Silver Cor	1.2%	1.1%	2,625,000	+45.8%	$12.4M
LTMLatam Airlines Group-Sp ADR	0.9%	0.8%	161,198	+18.4%	$9.4M
RYAAYRyanair Holdings PLC	0.9%	0.7%	139,753	+34.1%	$9.0M
EXKEndeavour Silver Corp	0.8%	—	1,043,200	—	$8.6M
PAASPan Amern Silver Corp	0.8%	0.5%	176,555	+140.0%	$7.9M
VOXRVox Royalty Corp	0.8%	1.0%	1,662,000	+0.0%	$7.9M
CDECoeur Mng Inc	0.7%	1.8%	439,303	-47.1%	$7.2M
TCOMTrip Com Group Ltd	0.7%	0.7%	175,270	+42.1%	$7.0M
HMYHarmony Gold Mng Ltd Fsponsored ADR	0.6%	0.7%	428,647	+7.7%	$6.5M
FSMFortuna Mining Corp	0.6%	0.4%	743,591	+93.8%	$6.3M
BBarrick Mng Corp	0.6%	0.7%	170,000	+19.0%	$6.2M
ARISAris Mining Corporation	0.6%	0.7%	400,000	+17.6%	$6.0M
MMYTMakemytrip Limited Mauritius	0.5%	0.6%	99,379	-29.4%	$5.3M
TFPMTriple Flag Precious M	0.5%	—	172,000	—	$5.2M
CGAUCenterra Gold Inc	0.5%	0.9%	300,000	-31.6%	$4.7M
OMABGrupo Aeroportuario del Centro	0.5%	0.4%	41,857	+38.8%	$4.7M
EMBJEmbraer S.a.	0.5%	0.8%	73,982	-34.5%	$4.7M
AEMAgnico Eagle Mines Ltd	0.4%	1.4%	30,000	-49.3%	$4.7M
NEMNewmont Corp	0.4%	0.5%	49,739	+35.1%	$4.6M
CPACopa Holdings SA	0.4%	—	29,833	—	$4.6M
ASRGrupo Aeroportuario del Surest	0.4%	—	14,624	—	$4.5M
MTAMetalla Royalty & Streaming	0.4%	0.4%	558,500	-3.5%	$4.3M
ASMAvino Silver	0.4%	—	610,000	—	$3.9M
VZLAVizsla Silver Corp	0.3%	0.4%	1,050,000	+0.0%	$3.4M
AUGOAura Minerals Inc	0.3%	1.0%	50,000	-50.0%	$3.1M
SSRMSsr Mining in	0.3%	—	110,000	—	$3.1M
AGIAlamos Gold Inc	0.3%	1.0%	100,000	-50.3%	$3.0M
RACEFerrari N V	0.3%	—	7,925	—	$3.0M
TSLATesla Inc Com	0.3%	—	6,450	—	$2.7M

What U S Global Investors Inc bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

BKNG Booking Holdings Inc Com+3275.9% shares
WPM Wheaton Precious Metals+379.7% shares
PAAS Pan Amern Silver Corp+140.0% shares
FSM Fortuna Mining Corp+93.8% shares
USAS Americas Gold and Silver Cor+45.8% shares
TCOM Trip Com Group Ltd+42.1% shares
OMAB Grupo Aeroportuario del Centro+38.8% shares
NEM Newmont Corp+35.1% shares

Reduced

AGI Alamos Gold Inc-50.3% shares
AUGO Aura Minerals Inc-50.0% shares
AEM Agnico Eagle Mines Ltd-49.3% shares
CDE Coeur Mng Inc-47.1% shares
EMBJ Embraer S.a.-34.5% shares
CGAU Centerra Gold Inc-31.6% shares
MMYT Makemytrip Limited Mauritius-29.4% shares
ULCC Frontier Group Hldgs Inc-27.5% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +24.4% /yr; S&P 500 +20.1%
3 years: +19.2% /yr; S&P 500 +20.4%
5 years: +6.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.0B	127
Q1 2026	$857.6M	135
Q4 2025	$934.0M	129
Q3 2025	$882.3M	133
Q2 2025	$849.1M	135
Q1 2025	$756.6M	136
Q4 2024	$1.0B	125
Q3 2024	$1.0B	130
Q2 2024	$1.1B	127
Q1 2024	$1.2B	143
Q4 2023	$1.5B	139
Q3 2023	$1.2B	125

Questions about U S Global Investors Inc's portfolio

What stocks does U S Global Investors Inc own?

U S Global Investors Inc's latest 13F, for Q2 2026 and filed Jul 27, 2026, lists 127 positions worth $1.0B. The largest are American Airlines Group Inc (AAL) at 10.4%, United Airls Hldgs Inc (UAL) at 10.2%, Southwest Airls Co (LUV) at 9.8%, Delta Air Lines Inc Com New (DAL) at 9.7% and Allegiant Travel Co (ALGT) at 3.9%.

What did U S Global Investors Inc buy last quarter?

In Q2 2026, U S Global Investors Inc added Booking Holdings Inc Com (BKNG) (+3275.9% shares), Wheaton Precious Metals (WPM) (+379.7% shares) and Pan Amern Silver Corp (PAAS) (+140.0% shares), compared with its Q1 2026 filing.

What did U S Global Investors Inc sell last quarter?

In Q2 2026, U S Global Investors Inc cut from its top 50 Royal Gold Inc (RGLD), cut from its top 50 Gold Fields Ltd ADR (GFI), cut from its top 50 Anglogold Ashanti PLC (AU), cut from its top 50 Drdgold Ltd - Sponsored ADR (DRD), cut from its top 50 Santacruz Silver Mng Ltd (SCZM), Alamos Gold Inc (AGI) (-50.3% shares), Aura Minerals Inc (AUGO) (-50.0% shares) and Agnico Eagle Mines Ltd (AEM) (-49.3% shares), compared with its Q1 2026 filing.

How has U S Global Investors Inc's portfolio performed?

A portfolio copying U S Global Investors Inc's 20 largest 13F holdings each quarter, from the day each filing was public, returned +19.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +24.4% against +20.1%. Over 5 years: +6.9% a year against +11.6%.

When is U S Global Investors Inc's next 13F filing due?

13F filings are due 45 days after each quarter ends. U S Global Investors Inc's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does U S Global Investors Inc manage?

U S Global Investors Inc reported $1.7B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.0B.