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U S GLOBAL INVESTORS INC

7900 CALLAGHAN RD, SAN ANTONIO, TX 78229 • 2103081234

Q4 2025 · Filed 2026-01-28
Market Value
$893M
+3.8%
Holdings
150
+13
New Purchases
25
Added To
37
Closed
36
Reduced
30
Top 10 Concentration
53.6%
Turnover
40.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RGLD 2.16% 0.05% +2.11% $19M
UAL 9.91% 8.75% +1.17% $89M
CGAU 1.16% 0.00% +1.16% $10M
B 1.54% 0.38% +1.15% $14M
AAL 9.56% 8.47% +1.09% $85M
MTA 1.25% 0.60% +0.65% $11M
GAU 0.62% 0.00% +0.62% $6M
FSM 0.62% 0.00% +0.62% $5M
LTM 0.92% 0.42% +0.50% $8M
DAL 9.45% 8.97% +0.48% $84M
ALK 2.57% 2.15% +0.42% $23M
EQX 0.31% 0.00% +0.31% $3M
TFPM.TO 1.04% 0.73% +0.31% $9M
IAG 1.06% 0.75% +0.31% $9M
ARIS 0.62% 0.34% +0.28% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
OR 1.36% 4.33% -2.97% $12M
BTG 0.00% 1.20% -1.20% $0
SSRM 0.00% 1.18% -1.18% $0
SVM 0.23% 1.15% -0.91% $2M
KGC 0.32% 1.20% -0.89% $3M
AGI 0.15% 1.01% -0.86% $1M
HL 0.00% 0.84% -0.84% $0
ORLA 0.00% 0.69% -0.69% $0
NGD 0.17% 0.83% -0.67% $1M
GFI 0.73% 1.35% -0.62% $7M
CDE 0.71% 1.04% -0.34% $6M
SABR 1.55% 1.85% -0.30% $14M
EMX 0.00% 0.30% -0.30% $0
SBSW 0.44% 0.71% -0.27% $4M
RACE 0.24% 0.46% -0.22% $2M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Industrials 57.4%
Basic Materials 30.0%
Consumer Cyclical 9.6%
Energy 2.3%
Financial Services 0.4%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 9 $8M 0.9%
Large Cap 70 $498M 55.8%
Mid Cap 45 $234M 26.2%
Small Cap 17 $144M 16.1%
Micro Cap 9 $10M 1.1%

Portfolio Analytics

Avg Market Cap
$52.0B
Median Market Cap
$12.1B
Avg P/E
28.0
Median P/E
17.1
Avg Dividend Yield
0.02%
Avg Beta
1.01
# Stocks
148
# ETFs / Funds
2

Top Holdings (150 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 UAL 9.91% 792,076 $89M $111.82 $13M +11,893 +1.5%
2 LUV 9.75% 2,107,325 $87M $41.33 $2M -555,956 -20.9%
3 AAL 9.56% 5,569,844 $85M $15.33 $12M -915,474 -14.1%
4 DAL 9.45% 1,216,731 $84M $69.40 $7M -144,302 -10.6%
5 ALGT 2.72% 284,685 $24M $85.27 $1M -95,993 -25.2%
6 SNCY 2.60% 1,611,228 $23M $14.39 $2M -216,991 -11.9%
7 ALK 2.57% 455,934 $23M $50.30 $4M +84,569 +22.8%
8 SKYW 2.51% 223,006 $22M $100.41 $818K +8,594 +4.0%
9 JBLU 2.41% 4,728,754 $22M $4.55 -$669K +219,622 +4.9%
10 ULCC 2.18% 4,137,964 $19M $4.71 -$657K -425,381 -9.3%
11 RGLD 2.16% 86,938 $19M $222.29 $19M +84,658 +3713.1%
12 WPM 2.09% 158,776 $19M $117.52 $2M +10,287 +6.9%
13 FNV 2.07% 89,311 $19M $207.28 $114K +6,774 +8.2%
14 BA 1.88% 77,292 $17M $217.12 $2M +11,018 +16.6%
15 BKNG 1.82% 3,030 $16M $5,355.33 $1M +247 +8.9%
16 EXPE 1.80% 56,812 $16M $283.31 $999K -13,815 -19.6%
17 TXT 1.79% 183,921 $16M $87.17 -$25K -6,125 -3.2%
18 GD 1.76% 46,780 $16M $336.66 -$424K -649 -1.4%
19 TRIP 1.69% 1,037,854 $15M $14.56 $918K +164,985 +18.9%
20 SABR 1.55% 10,173,592 $14M $1.36 -$2M +1,477,143 +17.0%
21 B 1.54% 315,000 $14M $43.55 $10M +215,000 +215.0%
22 OR 1.36% 343,245 $12M $35.39 -$25M -587,831 -63.1%
23 MTA 1.25% 1,432,510 $11M $7.78 $6M +617,923 +75.9%
24 CGAU 1.16% 721,921 $10M $14.38 +721,921 NEW
25 IAG 1.06% 575,000 $9M $16.49 $3M +75,000 +15.0%
26 TFPM.TO 1.04% 279,270 $9M $33.22 $3M +65,605 +30.7%
27 RYAAY 0.92% 113,653 $8M $72.19 $337K -16,994 -13.0%
28 TCOM 0.92% 113,885 $8M $71.91 $330K +9,369 +9.0%
29 LTM 0.92% 151,613 $8M $54.01 $5M +71,429 +89.1%
30 ERJ 0.89% 123,795 $8M $64.37 -$58K -8,993 -6.8%
31 VOXCF 0.83% 1,562,000 $7M $4.74 $687K
32 DRD 0.77% 222,033 $7M $31.01 $1M +12,978 +6.2%
33 GFI 0.73% 150,000 $7M $43.66 -$5M -126,638 -45.8%
34 CDE 0.71% 355,000 $6M $17.83 -$3M -124,000 -25.9%
35 CMCL 0.64% 217,334 $6M $26.17 $2M +116,580 +115.7%
36 GAU 0.62% 2,193,071 $6M $2.53 +2,193,071 NEW
37 ARIS 0.62% 340,000 $6M $16.23 $3M +40,000 +13.3%
38 FSM 0.62% 560,601 $5M $9.81 +560,601 NEW
39 HMY 0.59% 266,409 $5M $19.90 -$267K -40,388 -13.2%
40 AEM 0.57% 30,000 $5M $169.53 $29K
41 AUGO 0.56% 100,000 $5M $50.42 $1M
42 MMYT 0.47% 50,870 $4M $82.12 $538K +11,988 +30.8%
43 CPA 0.46% 33,720 $4M $120.61 $103K +356 +1.1%
44 ASR 0.45% 12,434 $4M $323.40 $363K +1,119 +9.9%
45 OMAB 0.45% 36,805 $4M $108.77 $655K +4,571 +14.2%
46 SBSW 0.44% 275,000 $4M $14.25 -$2M -269,332 -49.5%
47 PAAS 0.43% 73,555 $4M $51.81 $962K
48 EXK 0.36% 345,000 $3M $9.41 -$295K -107,500 -23.8%
49 KGC 0.32% 100,000 $3M $28.16 -$8M -317,334 -76.0%
50 EQX 0.31% 200,000 $3M $14.04 +200,000 NEW
51 RCL 0.29% 9,435 $3M $278.92 $96K +1,600 +20.4%
52 TSLA 0.29% 5,840 $3M $449.72 $1M +3,000 +105.6%
53 HLT 0.24% 7,500 $2M $287.25 $1M +3,100 +70.5%
54 CCL 0.24% 70,500 $2M $30.54 $433K +11,000 +18.5%
55 RACE 0.24% 5,815 $2M $369.56 -$2M -2,350 -28.8%
56 GS 0.23% 2,375 $2M $879.00 $435K +300 +14.5%
57 SVM 0.23% 250,000 $2M $8.34 -$8M -1,312,671 -84.0%
58 HBM 0.21% 95,000 $2M $19.85 $446K
59 MUX 0.21% 100,000 $2M $18.57 +100,000 NEW
60 MAR 0.20% 5,800 $2M $310.24 +5,800 NEW
61 EGO 0.20% 50,000 $2M $35.92 +50,000 NEW
62 XOM 0.18% 13,500 $2M $120.34 $441K +3,000 +28.6%
63 NTR 0.17% 25,000 $2M $61.72 $75K
64 NGD 0.17% 170,000 $1M $8.71 -$6M -828,054 -83.0%
65 AGI 0.15% 35,000 $1M $38.58 -$7M -215,000 -86.0%
66 SA 0.13% 40,000 $1M $29.59 $218K
67 UBS 0.13% 24,500 $1M $46.31 +24,500 NEW
68 CALI 0.12% 22,000 $1M $50.46 $1M +20,874 +1853.8%
69 TOTB.DE 0.11% 15,000 $981K $65.42 +15,000 NEW
70 PPTA 0.10% 37,000 $896K $24.21 -$116K -13,000 -26.0%
71 LTH 0.10% 33,600 $893K $26.58 -$34K
72 ODV 0.09% 250,000 $847K $3.39 -$7K
73 TPR 0.09% 6,500 $831K $127.77 $95K
74 IE 0.09% 51,499 $823K $15.98 $321K +11,499 +28.8%
75 SHEL 0.09% 11,000 $808K $73.48 $21K
76 LVS 0.09% 12,200 $794K $65.09 +12,200 NEW
77 EL 0.08% 6,500 $681K $104.72 $20K -1,000 -13.3%
78 WDS 0.07% 40,000 $624K $15.59 +40,000 NEW
79 LNG 0.07% 3,000 $583K $194.39 -$827K -3,000 -50.0%
80 CAT 0.06% 1,000 $573K $572.87 +1,000 NEW
81 TGB 0.06% 100,000 $566K $5.66 +100,000 NEW
82 J 0.05% 3,500 $464K $132.46 +3,500 NEW
83 CCJ 0.05% 5,000 $457K $91.49 $248K +2,500 +100.0%
84 SIG 0.05% 5,500 $456K $82.88 +5,500 NEW
85 MATX 0.05% 3,587 $443K $123.55 +3,587 NEW
86 FSLR 0.04% 1,500 $392K $261.23 +1,500 NEW
87 BKR 0.04% 8,500 $387K $45.54 $217K +5,000 +142.9%
88 RRC 0.04% 10,500 $370K $35.26 -$25K
89 FDX 0.04% 1,188 $343K $288.86 $49K -60 -4.8%
90 SLI 0.04% 75,000 $335K $4.47 $82K
91 UPS 0.04% 3,373 $335K $99.19 $53K +1 +0.0%
92 EXPD 0.04% 2,213 $330K $149.01 $42K -131 -5.6%
93 ZTO 0.04% 14,992 $313K $20.89 $30K +228 +1.5%
94 HAL 0.03% 10,000 $283K $28.26 $209K +7,000 +233.3%
95 ENRFF 0.03% 17,000 $262K $15.43 +17,000 NEW
96 STLD 0.03% 1,500 $254K $169.45 $45K
97 BP 0.03% 7,000 $243K $34.73 -$170K -5,000 -41.7%
98 TECK 0.03% 5,000 $239K $47.89 $20K
99 AEP 0.03% 2,000 $231K $115.31 +2,000 NEW
100 XPL 0.02% 310,000 $216K $0.70 -$372

Options Breakdown

3 Calls $0 Call Value 0 Puts $0 Put Value

Top Calls

SymbolSharesValueStatus
B $0 SOLD
TSLA $0 SOLD
NEM $0 SOLD

New Positions

SymbolValue% Port
CGAU $10M 1.16%
GAU $6M 0.62%
FSM $5M 0.62%
EQX $3M 0.31%
MUX $2M 0.21%
MAR $2M 0.20%
EGO $2M 0.20%
UBS $1M 0.13%
TOTB.DE $981K 0.11%
LVS $794K 0.09%
WDS $624K 0.07%
CAT $573K 0.06%
TGB $566K 0.06%
J $464K 0.05%
SIG $456K 0.05%

Sold Out Positions

SymbolValue% Port
ALB —%
WY —%
NCLH —%
ICL —%
DVN —%
MGM —%
ONON —%
STNG —%
IP —%
HAFN —%
GEV —%
STZ —%
ZIM —%
CTVA —%
PR —%
View SEC EDGAR Filings for U S GLOBAL INVESTORS INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms