U S Global Investors

SAN ANTONIO, TXfiles as U S GLOBAL INVESTORS INC

$1.0bn in 127 US stocks at the end of 30 June 2026. The top 10 are 59.6% of the money. It changed about 19.0% of the portfolio this quarter.

Value

$1.0bn

Stocks

127

Top 10 share

59.6%

Turnover

19.0%

What changed this quarter

New

Bought for the first time this quarter.

Aya Gold & SilverAYA
2.0% of the fund
CarnivalCCL
0.1% of the fund
American ExpressAXP
0.1% of the fund
OceanaGoldOGC
0.1% of the fund
International SeawaysINSW
<0.1% of the fund
BlackstoneBX
<0.1% of the fund
Sunshine Silver Mining & RefiningSSMR
<0.1% of the fund
Scorpio TankersSTNG
<0.1% of the fund
AppleAAPL
<0.1% of the fund
SindaSIND
<0.1% of the fund
EuroseasESEA
<0.1% of the fund
Fervo EnergyFRVO
<0.1% of the fund

Added

Bought more of a stock they already held.

Southwest AirlinesLUV
9.8% of the fund
+19%
Allegiant TravelALGT
3.9% of the fund
+16%
Jetblue AirwaysJBLU
3.3% of the fund
+8%
Alaska Air GroupALK
3.2% of the fund
+7%
SkywestSKYW
3.2% of the fund
+29%
SabreSABR
2.0% of the fund
+31%
Expedia GroupEXPE
1.8% of the fund
+32%
OR RoyaltiesOR
1.8% of the fund
+9%
Booking HoldingsBKNG
1.7% of the fund
+35%
General DynamicsGD
1.6% of the fund
+28%
TextronTXT
1.6% of the fund
+27%
BoeingBA
1.6% of the fund
+20%
Wheaton Precious MetalsWPM
1.5% of the fund
+380%
Americas Gold & SilverUSAS
1.2% of the fund
+46%
Latam Airlines Group SALTM
0.9% of the fund
+18%
Ryanair HoldingsRYAAY
0.9% of the fund
+34%
Endeavour SilverEXK
0.8% of the fund
+253%
PAN American SilverPAAS
0.8% of the fund
+140%
Trip COM GroupTCOM
0.7% of the fund
+42%
Harmony Gold MiningHMY
0.6% of the fund
+8%
Fortuna MiningFSM
0.6% of the fund
+94%
Barrick MiningB
0.6% of the fund
+19%
Aris MiningARIS
0.6% of the fund
+18%
Triple Flag Precious MetalsTFPM
0.5% of the fund
+187%
Grupo Aeroportuario DEL CentOMAB
0.5% of the fund
+39%

Cut

Sold some of their stake.

American Airlines GroupAAL
10.4% of the fund
-7%
Delta Air LinesDAL
9.7% of the fund
-8%
Frontier Group HoldingsULCC
3.7% of the fund
-28%
Franco NevadaFNV
1.6% of the fund
-4%
IamgoldIAG
1.3% of the fund
-10%
Coeur MiningCDE
0.7% of the fund
-47%
MakeMyTripMMYT
0.5% of the fund
-29%
Centerra GoldCGAU
0.5% of the fund
-32%
EmbraerEMBJ
0.5% of the fund
-35%
Agnico Eagle MinesAEM
0.4% of the fund
-49%
Metalla Royalty & StreamingMTA
0.4% of the fund
-3%
Aura MineralsAUGO
0.3% of the fund
-50%
Alamos GoldAGI
0.3% of the fund
-50%
TeslaTSLA
0.3% of the fund
-9%
Silvercorp MetalsSVM
0.2% of the fund
-60%
Santacruz Silver MiningSCZM
0.2% of the fund
-55%
Amazon.comAMZN
0.2% of the fund
-21%
NutrienNTR
0.2% of the fund
-17%
Hilton Worldwide HoldingsHLT
0.1% of the fund
-7%
Life Time Group HoldingsLTH
0.1% of the fund
-23%
ExxonMobil HoldingsXOM
0.1% of the fund
-51%
UBS Group AGUBS
0.1% of the fund
-20%
Marriott InternationalMAR
<0.1% of the fund
-12%
Gold FieldsGFI
<0.1% of the fund
-92%
AngloGold AshantiAU
<0.1% of the fund
-92%

Sold out

Sold their entire stake.

Drdgold LimitedDRD
-100%
Kinross GoldKGC
-100%
Orla MNG LTD NewORLA
-100%
Elemental RoyaltyELE
-100%
Carnival
-100%
Seabridge GoldSA
-100%
First Majestic SilverAG
-100%
Expand EnergyEXE
-100%
EQTEQT
-100%
Coterra EnergyCTRA
-100%
Bunge Global SABG
-100%
TormTRMD
-100%
MatsonMATX
-100%
Core Natural ResourcesCNR
-100%
Hycroft Mining HoldingHYMC
-100%
Peabody EnergyBTU
-100%
Standard LithiumSLI
-100%
Fury Gold MinesFURY
-100%
enCore EnergyEU
-100%
AlcoaAA
-100%

Holdings

American Airlines GroupAAL
Share
10.4%
Value
$108m
Shares
6,001,172
-7%
United Airlines HoldingsUAL
Share
10.2%
Value
$106m
Shares
780,724
Held
Southwest AirlinesLUV
Share
9.8%
Value
$102m
Shares
1,985,637
+19%
Delta Air LinesDAL
Share
9.7%
Value
$101m
Shares
1,075,013
-8%
Allegiant TravelALGT
Share
3.9%
Value
$41m
Shares
347,245
+16%
Frontier Group HoldingsULCC
Share
3.7%
Value
$39m
Shares
4,914,655
-28%
Jetblue AirwaysJBLU
Share
3.3%
Value
$34m
Shares
5,996,231
+8%
Alaska Air GroupALK
Share
3.2%
Value
$33m
Shares
639,713
+7%
SkywestSKYW
Share
3.2%
Value
$33m
Shares
333,087
+29%
Aya Gold & SilverAYA
Share
2.0%
Value
$21m
Shares
1,125,000
New
SabreSABR
Share
2.0%
Value
$21m
Shares
9,885,943
+31%
TripAdvisorTRIP
Share
1.8%
Value
$19m
Shares
1,393,974
Held
Expedia GroupEXPE
Share
1.8%
Value
$19m
Shares
73,940
+32%
OR RoyaltiesOR
Share
1.8%
Value
$18m
Shares
580,723
+9%
Booking HoldingsBKNG
Share
1.7%
Value
$18m
Shares
101,546
+35%
Franco NevadaFNV
Share
1.6%
Value
$17m
Shares
80,622
-4%
General DynamicsGD
Share
1.6%
Value
$16m
Shares
46,295
+28%
TextronTXT
Share
1.6%
Value
$16m
Shares
177,167
+27%
BoeingBA
Share
1.6%
Value
$16m
Shares
74,907
+20%
Wheaton Precious MetalsWPM
Share
1.5%
Value
$16m
Shares
139,426
+380%
IamgoldIAG
Share
1.3%
Value
$14m
Shares
878,486
-10%
Americas Gold & SilverUSAS
Share
1.2%
Value
$12m
Shares
2,625,000
+46%
Latam Airlines Group SALTM
Share
0.9%
Value
$9m
Shares
161,198
+18%
Ryanair HoldingsRYAAY
Share
0.9%
Value
$9m
Shares
139,753
+34%
Endeavour SilverEXK
Share
0.8%
Value
$9m
Shares
1,043,200
+253%
PAN American SilverPAAS
Share
0.8%
Value
$8m
Shares
176,555
+140%
VOX RoyaltyVOXR
Share
0.8%
Value
$8m
Shares
1,662,000
Held
Coeur MiningCDE
Share
0.7%
Value
$7m
Shares
439,303
-47%
Trip COM GroupTCOM
Share
0.7%
Value
$7m
Shares
175,270
+42%
Harmony Gold MiningHMY
Share
0.6%
Value
$7m
Shares
428,647
+8%
Fortuna MiningFSM
Share
0.6%
Value
$6m
Shares
743,591
+94%
Barrick MiningB
Share
0.6%
Value
$6m
Shares
170,000
+19%
Aris MiningARIS
Share
0.6%
Value
$6m
Shares
400,000
+18%
MakeMyTripMMYT
Share
0.5%
Value
$5m
Shares
99,379
-29%
Triple Flag Precious MetalsTFPM
Share
0.5%
Value
$5m
Shares
172,000
+187%
Centerra GoldCGAU
Share
0.5%
Value
$5m
Shares
300,000
-32%
Grupo Aeroportuario DEL CentOMAB
Share
0.5%
Value
$5m
Shares
41,857
+39%
EmbraerEMBJ
Share
0.5%
Value
$5m
Shares
73,982
-35%
Agnico Eagle MinesAEM
Share
0.4%
Value
$5m
Shares
30,000
-49%
NewmontNEM
Share
0.4%
Value
$5m
Shares
49,739
+35%
Copa HoldingsCPA
Share
0.4%
Value
$5m
Shares
29,833
+5%
Southeast Airport GroupASR
Share
0.4%
Value
$4m
Shares
14,624
+46%
Metalla Royalty & StreamingMTA
Share
0.4%
Value
$4m
Shares
558,500
-3%
Avino Silver & Gold MinesASM
Share
0.4%
Value
$4m
Shares
610,000
+510%
Vizsla SilverVZLA
Share
0.3%
Value
$3m
Shares
1,050,000
Held
Aura MineralsAUGO
Share
0.3%
Value
$3m
Shares
50,000
-50%
SSR MiningSSRM
Share
0.3%
Value
$3m
Shares
110,000
Held
Alamos GoldAGI
Share
0.3%
Value
$3m
Shares
100,000
-50%
FerrariRACE
Share
0.3%
Value
$3m
Shares
7,925
Held
TeslaTSLA
Share
0.3%
Value
$3m
Shares
6,450
-9%
Royal Caribbean CruisesRCL
Share
0.3%
Value
$3m
Shares
8,530
Held
Silvercorp MetalsSVM
Share
0.2%
Value
$3m
Shares
250,000
-60%
Woodside Energy GroupWDS
Share
0.2%
Value
$2m
Shares
125,000
+67%
Sibanye StillwaterSBSW
Share
0.2%
Value
$2m
Shares
275,000
Held
Santacruz Silver MiningSCZM
Share
0.2%
Value
$2m
Shares
350,000
-55%
Versamet RoyaltiesVMET
Share
0.2%
Value
$2m
Shares
250,000
Held
Viking HoldingsVIK
Share
0.2%
Value
$2m
Shares
18,935
+54%
McEwenMUX
Share
0.2%
Value
$2m
Shares
100,000
Held
Amazon.comAMZN
Share
0.2%
Value
$2m
Shares
7,500
-21%
TotalEnergies SETTE
Share
0.2%
Value
$2m
Shares
22,000
Held
NutrienNTR
Share
0.2%
Value
$2m
Shares
25,000
-17%
Highlander SilverHSLV
Share
0.1%
Value
$2m
Shares
325,000
+16%
CarnivalCCL
Share
0.1%
Value
$1m
Shares
52,500
New
Cheniere EnergyLNG
Share
0.1%
Value
$1m
Shares
6,200
Held
ShellSHEL
Share
0.1%
Value
$1m
Shares
18,000
Held
American ExpressAXP
Share
0.1%
Value
$1m
Shares
3,930
New
Hilton Worldwide HoldingsHLT
Share
0.1%
Value
$1m
Shares
3,950
-7%
Life Time Group HoldingsLTH
Share
0.1%
Value
$1m
Shares
31,600
-23%
Blue Moon MetalsBMM
Share
0.1%
Value
$1m
Shares
200,000
+100%
OceanaGoldOGC
Share
0.1%
Value
$1m
Shares
50,000
New
Estee Lauder CompaniesEL
Share
0.1%
Value
$1m
Shares
15,800
+22%
ExxonMobil HoldingsXOM
Share
0.1%
Value
$1m
Shares
8,500
-51%
Hecla MiningHL
Share
0.1%
Value
$1m
Shares
75,000
Held
UBS Group AGUBS
Share
0.1%
Value
$1m
Shares
22,300
-20%
CaterpillarCAT
Share
0.1%
Value
$1m
Shares
1,000
Held
Toll BrothersTOL
Share
<0.1%
Value
$1m
Shares
6,300
+17%
Marriott InternationalMAR
Share
<0.1%
Value
$945,005
Shares
2,550
-12%
DHT HoldingsDHT
Share
<0.1%
Value
$896,521
Shares
54,236
+161%
International SeawaysINSW
Share
<0.1%
Value
$852,447
Shares
11,130
New
Gold FieldsGFI
Share
<0.1%
Value
$839,750
Shares
25,000
-92%
LAS Vegas SandsLVS
Share
<0.1%
Value
$817,563
Shares
17,700
+45%
AngloGold AshantiAU
Share
<0.1%
Value
$808,900
Shares
10,000
-92%
Integra ResourcesITRG
Share
<0.1%
Value
$794,500
Shares
350,000
-11%
BlackstoneBX
Share
<0.1%
Value
$741,321
Shares
6,300
New
Mako MiningMAKO
Share
<0.1%
Value
$733,887
Shares
100,000
Held
Sunshine Silver Mining & RefiningSSMR
Share
<0.1%
Value
$727,100
Shares
55,000
New
Global Ship LeaseGSL
Share
<0.1%
Value
$705,602
Shares
18,766
Held
Scorpio TankersSTNG
Share
<0.1%
Value
$656,585
Shares
9,480
New
Perpetua ResourcesPPTA
Share
<0.1%
Value
$622,800
Shares
30,000
Held
TeekayTK
Share
<0.1%
Value
$610,090
Shares
61,009
-3%
Osisko Development
Share
<0.1%
Value
$606,882
Shares
250,000
Held
TapestryTPR
Share
<0.1%
Value
$592,107
Shares
4,045
Held
BW LPGBWLP
Share
<0.1%
Value
$590,874
Shares
33,953
-32%
AppleAAPL
Share
<0.1%
Value
$578,720
Shares
2,000
New
ZTO Express CaymanZTO
Share
<0.1%
Value
$543,744
Shares
24,296
+9%
United Parcel ServiceUPS
Share
<0.1%
Value
$541,155
Shares
5,034
-6%
Expeditors International of WashingtonEXPD
Share
<0.1%
Value
$535,552
Shares
3,286
-11%
FedExFDX
Share
<0.1%
Value
$506,644
Shares
1,618
+9%
Ivanhoe ElectricIE
Share
<0.1%
Value
$494,905
Shares
51,499
+94%
Collective MiningCNL
Share
<0.1%
Value
$429,742
Shares
35,000
Held

Company	Share of fund	Value	Shares	Change
American Airlines GroupAAL	10.4%	$108m	6,001,172	-7%
United Airlines HoldingsUAL	10.2%	$106m	780,724	Held
Southwest AirlinesLUV	9.8%	$102m	1,985,637	+19%
Delta Air LinesDAL	9.7%	$101m	1,075,013	-8%
Allegiant TravelALGT	3.9%	$41m	347,245	+16%
Frontier Group HoldingsULCC	3.7%	$39m	4,914,655	-28%
Jetblue AirwaysJBLU	3.3%	$34m	5,996,231	+8%
Alaska Air GroupALK	3.2%	$33m	639,713	+7%
SkywestSKYW	3.2%	$33m	333,087	+29%
Aya Gold & SilverAYA	2.0%	$21m	1,125,000	New
SabreSABR	2.0%	$21m	9,885,943	+31%
TripAdvisorTRIP	1.8%	$19m	1,393,974	Held
Expedia GroupEXPE	1.8%	$19m	73,940	+32%
OR RoyaltiesOR	1.8%	$18m	580,723	+9%
Booking HoldingsBKNG	1.7%	$18m	101,546	+35%
Franco NevadaFNV	1.6%	$17m	80,622	-4%
General DynamicsGD	1.6%	$16m	46,295	+28%
TextronTXT	1.6%	$16m	177,167	+27%
BoeingBA	1.6%	$16m	74,907	+20%
Wheaton Precious MetalsWPM	1.5%	$16m	139,426	+380%
IamgoldIAG	1.3%	$14m	878,486	-10%
Americas Gold & SilverUSAS	1.2%	$12m	2,625,000	+46%
Latam Airlines Group SALTM	0.9%	$9m	161,198	+18%
Ryanair HoldingsRYAAY	0.9%	$9m	139,753	+34%
Endeavour SilverEXK	0.8%	$9m	1,043,200	+253%
PAN American SilverPAAS	0.8%	$8m	176,555	+140%
VOX RoyaltyVOXR	0.8%	$8m	1,662,000	Held
Coeur MiningCDE	0.7%	$7m	439,303	-47%
Trip COM GroupTCOM	0.7%	$7m	175,270	+42%
Harmony Gold MiningHMY	0.6%	$7m	428,647	+8%
Fortuna MiningFSM	0.6%	$6m	743,591	+94%
Barrick MiningB	0.6%	$6m	170,000	+19%
Aris MiningARIS	0.6%	$6m	400,000	+18%
MakeMyTripMMYT	0.5%	$5m	99,379	-29%
Triple Flag Precious MetalsTFPM	0.5%	$5m	172,000	+187%
Centerra GoldCGAU	0.5%	$5m	300,000	-32%
Grupo Aeroportuario DEL CentOMAB	0.5%	$5m	41,857	+39%
EmbraerEMBJ	0.5%	$5m	73,982	-35%
Agnico Eagle MinesAEM	0.4%	$5m	30,000	-49%
NewmontNEM	0.4%	$5m	49,739	+35%
Copa HoldingsCPA	0.4%	$5m	29,833	+5%
Southeast Airport GroupASR	0.4%	$4m	14,624	+46%
Metalla Royalty & StreamingMTA	0.4%	$4m	558,500	-3%
Avino Silver & Gold MinesASM	0.4%	$4m	610,000	+510%
Vizsla SilverVZLA	0.3%	$3m	1,050,000	Held
Aura MineralsAUGO	0.3%	$3m	50,000	-50%
SSR MiningSSRM	0.3%	$3m	110,000	Held
Alamos GoldAGI	0.3%	$3m	100,000	-50%
FerrariRACE	0.3%	$3m	7,925	Held
TeslaTSLA	0.3%	$3m	6,450	-9%
Royal Caribbean CruisesRCL	0.3%	$3m	8,530	Held
Silvercorp MetalsSVM	0.2%	$3m	250,000	-60%
Woodside Energy GroupWDS	0.2%	$2m	125,000	+67%
Sibanye StillwaterSBSW	0.2%	$2m	275,000	Held
Santacruz Silver MiningSCZM	0.2%	$2m	350,000	-55%
Versamet RoyaltiesVMET	0.2%	$2m	250,000	Held
Viking HoldingsVIK	0.2%	$2m	18,935	+54%
McEwenMUX	0.2%	$2m	100,000	Held
Amazon.comAMZN	0.2%	$2m	7,500	-21%
TotalEnergies SETTE	0.2%	$2m	22,000	Held
NutrienNTR	0.2%	$2m	25,000	-17%
Highlander SilverHSLV	0.1%	$2m	325,000	+16%
CarnivalCCL	0.1%	$1m	52,500	New
Cheniere EnergyLNG	0.1%	$1m	6,200	Held
ShellSHEL	0.1%	$1m	18,000	Held
American ExpressAXP	0.1%	$1m	3,930	New
Hilton Worldwide HoldingsHLT	0.1%	$1m	3,950	-7%
Life Time Group HoldingsLTH	0.1%	$1m	31,600	-23%
Blue Moon MetalsBMM	0.1%	$1m	200,000	+100%
OceanaGoldOGC	0.1%	$1m	50,000	New
Estee Lauder CompaniesEL	0.1%	$1m	15,800	+22%
ExxonMobil HoldingsXOM	0.1%	$1m	8,500	-51%
Hecla MiningHL	0.1%	$1m	75,000	Held
UBS Group AGUBS	0.1%	$1m	22,300	-20%
CaterpillarCAT	0.1%	$1m	1,000	Held
Toll BrothersTOL	<0.1%	$1m	6,300	+17%
Marriott InternationalMAR	<0.1%	$945,005	2,550	-12%
DHT HoldingsDHT	<0.1%	$896,521	54,236	+161%
International SeawaysINSW	<0.1%	$852,447	11,130	New
Gold FieldsGFI	<0.1%	$839,750	25,000	-92%
LAS Vegas SandsLVS	<0.1%	$817,563	17,700	+45%
AngloGold AshantiAU	<0.1%	$808,900	10,000	-92%
Integra ResourcesITRG	<0.1%	$794,500	350,000	-11%
BlackstoneBX	<0.1%	$741,321	6,300	New
Mako MiningMAKO	<0.1%	$733,887	100,000	Held
Sunshine Silver Mining & RefiningSSMR	<0.1%	$727,100	55,000	New
Global Ship LeaseGSL	<0.1%	$705,602	18,766	Held
Scorpio TankersSTNG	<0.1%	$656,585	9,480	New
Perpetua ResourcesPPTA	<0.1%	$622,800	30,000	Held
TeekayTK	<0.1%	$610,090	61,009	-3%
Osisko Development	<0.1%	$606,882	250,000	Held
TapestryTPR	<0.1%	$592,107	4,045	Held
BW LPGBWLP	<0.1%	$590,874	33,953	-32%
AppleAAPL	<0.1%	$578,720	2,000	New
ZTO Express CaymanZTO	<0.1%	$543,744	24,296	+9%
United Parcel ServiceUPS	<0.1%	$541,155	5,034	-6%
Expeditors International of WashingtonEXPD	<0.1%	$535,552	3,286	-11%
FedExFDX	<0.1%	$506,644	1,618	+9%
Ivanhoe ElectricIE	<0.1%	$494,905	51,499	+94%
Collective MiningCNL	<0.1%	$429,742	35,000	Held

Showing the largest 100 of 127.

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 22.4% since 30 June 2025.

Where the money is

Industrials66.0%

Materials20.1%

Retail & consumer5.3%

Technology3.9%

Financial services1.3%

Energy0.7%

Everyday goods0.1%

Utilities0.1%

Other2.6%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.