13F HOLDINGS REPORT
U S GLOBAL INVESTORS INC
Quarter ended Q4 2025 · Filed January 28, 2026 · Accession 0001437749-26-002320
Total Value
$934.0M
Positions
158
Other Managers
0
Confidential Omitted
No
Holdings (158)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | UNITED AIRLINES | UNTCW | 792,076 | $88.6M | 9.48% |
| 2 | SOUTHWEST AIR | 844741108 | 2,107,325 | $87.1M | 9.33% |
| 3 | AMERICAN AIRLINE | 02376R102 | 5,569,844 | $85.4M | 9.14% |
| 4 | DELTA AIR LI | DAL | 1,216,731 | $84.4M | 9.04% |
| 5 | ALLEGIANT TRAVEL | ALGT | 284,685 | $24.3M | 2.60% |
| 6 | SUN COUNTRY HOLD | 866683105 | 1,611,228 | $23.2M | 2.48% |
| 7 | ALASKA AIR GROUP | ALK | 455,934 | $22.9M | 2.46% |
| 8 | SKYWEST INC | SKYW | 223,006 | $22.4M | 2.40% |
| 9 | JETBLUE AIRWAYS | 477143101 | 4,728,754 | $21.5M | 2.30% |
| 10 | FRONTIER GROUP H | ULCC | 4,137,964 | $19.5M | 2.09% |
| 11 | ROYAL GOLD INC | RGLD | 83,633 | $18.6M | 1.99% |
| 12 | WHEATON PRECIOUS | WPM | 155,776 | $18.3M | 1.96% |
| 13 | FRANCO-NEVADA CO | FNV | 84,201 | $17.5M | 1.87% |
| 14 | BOEING CO/THE | BA-PA | 77,292 | $16.8M | 1.80% |
| 15 | BOOKING HOLDINGS | BKNG | 3,030 | $16.2M | 1.74% |
| 16 | EXPEDIA GROUP IN | EXPE | 56,812 | $16.1M | 1.72% |
| 17 | TEXTRON INC | TXT | 183,921 | $16.0M | 1.72% |
| 18 | GENERAL DYNAMICS | GD | 46,780 | $15.7M | 1.69% |
| 19 | TRIPADVISOR INC | TRIP | 1,037,854 | $15.1M | 1.62% |
| 20 | SABRE CORP | SABR | 10,173,592 | $13.8M | 1.48% |
| 21 | BARRICK MNG CORP | 06849F108 | 300,000 | $13.1M | 1.40% |
| 22 | IAMGOLD CORP | IAG | 575,000 | $9.5M | 1.02% |
| 23 | AMERICAS GOLD AN | 03062D803 | 1,800,000 | $9.2M | 0.99% |
| 24 | RYANAIR HLDG-ADR | RYAOF | 113,653 | $8.2M | 0.88% |
| 25 | TRIP.COM GRO-ADR | TRPCF | 113,885 | $8.2M | 0.88% |
| 26 | LATAM AIRLINES G | LTM | 151,613 | $8.2M | 0.88% |
| 27 | EMBRAER SA-ADR | EMBJ | 123,795 | $8.0M | 0.85% |
| 28 | ANGLOGOLD ASHANTI PLC | AU | 90,000 | $7.7M | 0.82% |
| 29 | CENTERRA GOLD IN | CGAU | 511,921 | $7.4M | 0.79% |
| 30 | OR ROYALTIES INC | OR | 198,245 | $7.0M | 0.75% |
| 31 | TRIPLE FLAG | TFPM | 210,670 | $7.0M | 0.75% |
| 32 | METALLA ROYALTY | 59124U605 | 880,510 | $6.9M | 0.73% |
| 33 | VOX ROYALTY CORP | VOXR | 1,412,000 | $6.7M | 0.72% |
| 34 | GOLD FIELDS LTD | GFIOF | 150,000 | $6.5M | 0.70% |
| 35 | CALEDONIA MINING | G1757E113 | 214,334 | $5.6M | 0.60% |
| 36 | ALLIED GOLD CORP | AAUC | 242,753 | $5.6M | 0.60% |
| 37 | GALIANO GOLD INC | GAU | 2,193,071 | $5.5M | 0.59% |
| 38 | ARIS MINING CORP | 04040Y109 | 340,000 | $5.5M | 0.59% |
| 39 | FORTUNA MINING C | 349942102 | 560,601 | $5.5M | 0.59% |
| 40 | DRDGOLD LTD-ADR | DRDGF | 172,033 | $5.3M | 0.57% |
| 41 | HARMONY GOLD-ADR | HGMCF | 266,409 | $5.3M | 0.57% |
| 42 | INTEGRA RESOURCE | ITRG | 1,321,127 | $5.3M | 0.57% |
| 43 | AGNICO EAGLE MINES LTD | AEM | 30,000 | $5.1M | 0.54% |
| 44 | AURA MINERALS INC | AUGO | 100,000 | $5.0M | 0.54% |
| 45 | COEUR MNG INC | 192108504 | 275,000 | $4.9M | 0.52% |
| 46 | VIZSLA SILVER CO | VZLA | 800,000 | $4.4M | 0.47% |
| 47 | MAKEMYTRIP LTD | MMYT | 50,870 | $4.2M | 0.45% |
| 48 | COPA HOLDIN-CL A | CPA | 33,720 | $4.1M | 0.44% |
| 49 | GRUPO AEROPO-ADR | 40051E202 | 12,434 | $4.0M | 0.43% |
| 50 | GRUPO AEROPO-ADR | 400501102 | 36,805 | $4.0M | 0.43% |
| 51 | SIBANYE STILLWATER LTD | SBYSF | 275,000 | $3.9M | 0.42% |
| 52 | METALLA RTY & STREAMING LTD | 59124U605 | 500,000 | $3.9M | 0.42% |
| 53 | PAN AMERN SILVER CORP | 697900108 | 73,555 | $3.8M | 0.41% |
| 54 | OR ROYALTIES INC. | OR | 100,000 | $3.5M | 0.38% |
| 55 | CENTERRA GOLD IN | CGAU | 210,000 | $3.0M | 0.32% |
| 56 | KINROSS GOLD CORP | KGCRF | 100,000 | $2.8M | 0.30% |
| 57 | EQUINOX GOLD CORP | EQX | 200,000 | $2.8M | 0.30% |
| 58 | ROYAL CARIBBEAN GROUP | V7780T103 | 9,435 | $2.6M | 0.28% |
| 59 | TESLA INC | TSLA | 5,840 | $2.6M | 0.28% |
| 60 | ENDEAVOUR SILVER | EXK | 275,000 | $2.6M | 0.28% |
| 61 | ELEMENTAL ROYALT | 28620K106 | 150,000 | $2.5M | 0.27% |
| 62 | HILTON WORLDWIDE HLDGS INC | HLT | 7,500 | $2.2M | 0.23% |
| 63 | CARNIVAL CORP | CUKPF | 70,500 | $2.2M | 0.23% |
| 64 | FERRARI N V | RACE | 5,815 | $2.1M | 0.23% |
| 65 | GOLDMAN SACHS GROUP INC | GSCE | 2,375 | $2.1M | 0.22% |
| 66 | SILVERCORP METALS INC | SVM | 250,000 | $2.1M | 0.22% |
| 67 | TRIPLE FLAG PRECIOUS METAL | TFPM | 60,000 | $2.0M | 0.21% |
| 68 | HUDBAY MINERALS INC | HBM | 95,000 | $1.9M | 0.20% |
| 69 | MCEWEN INC | MUX | 100,000 | $1.9M | 0.20% |
| 70 | MARRIOTT INTL INC NEW | 571903202 | 5,800 | $1.8M | 0.19% |
| 71 | ELDORADO GOLD CORP NEW | 284902509 | 50,000 | $1.8M | 0.19% |
| 72 | EXXON MOBIL CORP | XOM | 13,500 | $1.6M | 0.17% |
| 73 | DRDGOLD LIMITED | DRDGF | 50,000 | $1.6M | 0.17% |
| 74 | NUTRIEN LTD | NTR | 25,000 | $1.5M | 0.17% |
| 75 | DOLLY VARDEN SIL | DVS | 350,000 | $1.5M | 0.16% |
| 76 | VIZSLA SILVER CO | VZLA | 250,000 | $1.4M | 0.15% |
| 77 | ALAMOS GOLD INC NEW | AGI | 35,000 | $1.4M | 0.14% |
| 78 | NEW GOLD INC CDA | 644535106 | 150,000 | $1.3M | 0.14% |
| 79 | COEUR MNG INC | 192108504 | 65,000 | $1.2M | 0.12% |
| 80 | UBS GROUP AG | UBS | 24,500 | $1.1M | 0.12% |
| 81 | VIKING HOLDINGS LTD | VIK | 15,700 | $1.1M | 0.12% |
| 82 | BLACKROCK ETF TRUST II | BLK | 22,000 | $1.1M | 0.12% |
| 83 | TOTALENERGIES SE | TTE | 15,000 | $981,300 | 0.11% |
| 84 | LIFE TIME GROUP HOLDINGS INC | LTH | 33,600 | $893,088 | 0.10% |
| 85 | OSISKO DEVELOPME | OSDVF | 250,000 | $847,365 | 0.09% |
| 86 | TAPESTRY INC | TPR | 6,500 | $830,505 | 0.09% |
| 87 | IVANHOE ELECTRIC | IE | 51,499 | $822,954 | 0.09% |
| 88 | SHELL PLC | RYDAF | 11,000 | $808,280 | 0.09% |
| 89 | LAS VEGAS SANDS CORP | LVS | 12,200 | $794,098 | 0.09% |
| 90 | ROYAL GOLD INC | RGLD | 3,305 | $734,668 | 0.08% |
| 91 | PERPETUA RESOURCES CORP | PPTA | 30,000 | $726,300 | 0.08% |
| 92 | VOX ROYALTY CORP | VOXR | 150,000 | $711,000 | 0.08% |
| 93 | OR ROYALTIES INC. | OR | 20,000 | $707,800 | 0.08% |
| 94 | LAUDER ESTEE COS INC | 518439104 | 6,500 | $680,680 | 0.07% |
| 95 | BARRICK MNG CORP | 06849F108 | 15,000 | $653,250 | 0.07% |
| 96 | WOODSIDE ENERGY GROUP LTD | WOPEF | 40,000 | $623,600 | 0.07% |
| 97 | SEABRIDGE GOLD INC | SA | 20,000 | $591,800 | 0.06% |
| 98 | SEABRIDGE GOLD INC | SA | 20,000 | $591,800 | 0.06% |
| 99 | CHENIERE ENERGY INC | LNG | 3,000 | $583,170 | 0.06% |
| 100 | CATERPILLAR INC | CAT | 1,000 | $572,870 | 0.06% |
| 101 | TASEKO MINES | TGB | 100,000 | $566,368 | 0.06% |
| 102 | FRANCO NEV CORP | FNV | 2,610 | $541,001 | 0.06% |
| 103 | OR ROYALTIES INC. | OR | 15,000 | $530,850 | 0.06% |
| 104 | FRANCO NEV CORP | FNV | 2,500 | $518,200 | 0.06% |
| 105 | JACOBS SOLUTIONS INC | J | 3,500 | $463,610 | 0.05% |
| 106 | CAMECO CORP | CCJ | 5,000 | $457,450 | 0.05% |
| 107 | SIGNET JEWELERS LIMITED | SIG | 5,500 | $455,840 | 0.05% |
| 108 | MATSON INC | MATX | 3,587 | $443,174 | 0.05% |
| 109 | FIRST SOLAR INC | FSLR | 1,500 | $391,845 | 0.04% |
| 110 | BAKER HUGHES COMPANY | BKR | 8,500 | $387,090 | 0.04% |
| 111 | ENDEAVOUR SILVER | EXK | 40,000 | $376,412 | 0.04% |
| 112 | RANGE RES CORP | RRC | 10,500 | $370,230 | 0.04% |
| 113 | BUNGE GLOBAL SA | BG | 4,000 | $356,320 | 0.04% |
| 114 | OR ROYALTIES INC. | OR | 10,000 | $353,900 | 0.04% |
| 115 | WHEATON PRECIOUS METALS CORP | WPM | 3,000 | $352,560 | 0.04% |
| 116 | FEDEX CORP | FDX | 1,188 | $343,166 | 0.04% |
| 117 | STANDARD LITHIUM LTD | SLI | 75,000 | $335,250 | 0.04% |
| 118 | UNITED PARCEL-B | UPS | 3,373 | $334,568 | 0.04% |
| 119 | EXPEDITORS INTL | 302130109 | 2,213 | $329,759 | 0.04% |
| 120 | ZTO EXPRESS -ADR | ZTOEF | 14,992 | $313,183 | 0.03% |
| 121 | COLLECTIVE MININ | CNL | 20,000 | $291,566 | 0.03% |
| 122 | HALLIBURTON CO | HAL | 10,000 | $282,600 | 0.03% |
| 123 | ENDEAVOUR SILVER | EXK | 30,000 | $282,309 | 0.03% |
| 124 | METALLA RTY & STREAMING LTD | 59124U605 | 35,000 | $272,300 | 0.03% |
| 125 | COEUR MNG INC | 192108504 | 15,000 | $267,450 | 0.03% |
| 126 | ENERFLEX LTD | EFXT | 17,000 | $262,310 | 0.03% |
| 127 | INTEGRA RES CORP | ITRG | 65,000 | $260,650 | 0.03% |
| 128 | STEEL DYNAMICS INC | STLD | 1,500 | $254,175 | 0.03% |
| 129 | BP PLC | BPPFF | 7,000 | $243,110 | 0.03% |
| 130 | TECK RESOURCES LTD | TCKRF | 5,000 | $239,450 | 0.03% |
| 131 | HYCROFT MINING HOLDING CORP | HYMCW | 10,000 | $237,700 | 0.03% |
| 132 | AMERICAN ELEC PWR CO INC | 025537101 | 2,000 | $230,620 | 0.02% |
| 133 | BW LPG LTD | BWLP | 17,049 | $223,022 | 0.02% |
| 134 | COLLECTIVE MININ | CNL | 15,000 | $218,675 | 0.02% |
| 135 | SOLITARIO RESOURCES CORP | XPL | 310,000 | $216,008 | 0.02% |
| 136 | PARAMOUNT GOLD NEV CORP | PZG | 170,000 | $214,200 | 0.02% |
| 137 | BHP GROUP LTD | BHPLF | 3,500 | $211,295 | 0.02% |
| 138 | GLOBAL SHIP-CL A | GSL-PB | 5,834 | $204,423 | 0.02% |
| 139 | DANAOS CORP | DAC | 2,169 | $204,276 | 0.02% |
| 140 | ELECTRA BATTERY | ELBM | 250,000 | $202,274 | 0.02% |
| 141 | EVERSOURCE ENERGY | ES | 3,000 | $201,990 | 0.02% |
| 142 | TEEKAY TANK-CL A | TNK | 3,768 | $201,287 | 0.02% |
| 143 | TIDEWATER INC | TDGMW | 3,519 | $177,745 | 0.02% |
| 144 | NEW GOLD INC CDA | 644535106 | 20,000 | $174,200 | 0.02% |
| 145 | SCHLUMBERGER LTD | SLB | 4,500 | $172,710 | 0.02% |
| 146 | ANTERO RESOURCES CORP | AR | 5,000 | $172,300 | 0.02% |
| 147 | PERPETUA RESOURCES CORP | PPTA | 7,000 | $169,470 | 0.02% |
| 148 | TRIPLE FLAG PRECIOUS METAL | TFPM | 5,000 | $166,100 | 0.02% |
| 149 | VALERO ENERGY CORP | VLO | 1,000 | $162,790 | 0.02% |
| 150 | METALLA RTY & STREAMING LTD | 59124U605 | 17,000 | $132,260 | 0.01% |
| 151 | CME GROUP INC | CME | 461 | $125,890 | 0.01% |
| 152 | TRIPLE FLAG PRECIOUS METAL | TFPM | 3,600 | $119,592 | 0.01% |
| 153 | ENCORE ENERGY CO | EU | 50,000 | $119,178 | 0.01% |
| 154 | SELECT WATER SOLUTIONS INC | WTTR | 10,000 | $105,200 | 0.01% |
| 155 | GLOBAL X FDS | 37950E408 | 4,500 | $95,693 | 0.01% |
| 156 | CALEDONIA MNG CORP PLC | G1757E113 | 3,000 | $78,510 | 0.01% |
| 157 | AURELION INC | AURE | 300,000 | $74,940 | 0.01% |
| 158 | BIRKENSTOCK HOLDING PLC | BIRK | 1,500 | $61,350 | 0.01% |