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        <name>Cia Paranaense de Energia</name>
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        <name>Fortescue Metals Group Ltd</name>
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        <name>N/A</name>
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        <name>Abaxx Technologies, Inc.</name>
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        <name>Encanto Potash Corp</name>
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        <name>Corona Minerals, Ltd.</name>
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        <name>Novolipetsk Steel PJSC</name>
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        <name>Global X Uranium ETF</name>
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        <title>Global X Uranium ETF</title>
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        <name>PotlatchDeltic Corp</name>
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        <name>Barrick Gold Corp.</name>
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        <name>Consorcio Alfa de Administraca</name>
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        <name>Resolute Forest Products Inc</name>
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      <invstOrSec>
        <name>Western Atlas Resources Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Invesco DB Agriculture Fund</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>African Medical Investments PL</name>
        <lei>N/A</lei>
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          <isin value="IM00B39HQT38"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Rockwell Diamonds Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>Desert Mountain Energy Corp</name>
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          <isin value="CA25043D1078"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Direxion Daily Junior Gold Min</name>
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        <title>Direxion Daily Junior Gold Miners Index Bull 3x Shares</title>
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          <isin value="US25460E1661"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BHP Group Ltd</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group, Ltd.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Road Minerals Ltd</name>
        <lei>54930033JDODZL6J2G22</lei>
        <title>Royal Road Minerals, Ltd.</title>
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          <isin value="JE00BWH5YF45"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Petroleo Brasileiro SA</name>
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        <title>Petroleo Brasileiro SA</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teck Resources Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Orora Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nutrien Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GoldMoney Inc</name>
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        <name>Valero Energy Corp</name>
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        <title>Valero Energy Corp.</title>
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        <name>Barksdale Resources Corp</name>
        <lei>549300JSC30UXM5OSU40</lei>
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        <name>Chakana Copper Corp</name>
        <lei>549300265UHKA4LQUT66</lei>
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        <name>Cordoba Minerals Corp</name>
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        <name>Louisiana-Pacific Corp</name>
        <lei>549300C7E2UAO5BVRR75</lei>
        <title>Louisiana-Pacific Corp.</title>
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        <name>I-Pulse, Inc.</name>
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        <name>InZinc Mining Ltd</name>
        <lei>529900SQMNKF5EXPGG60</lei>
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        <name>VR Resources, Ltd.</name>
        <lei>529900RR5LC80PRJF571</lei>
        <title>VR Resources, Ltd.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ascendant Resources Inc</name>
        <lei>25490091W4JE4KXPLQ30</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Defense Metals Corp</name>
        <lei>54930072WL7JZREIPD69</lei>
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        <cusip>N/A</cusip>
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          <isin value="CA2446331035"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Orsu Metals Corp.</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="OSU CN"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>VG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Siemens Gamesa Renewable Energ</name>
        <lei>9598004BR8D81D3M1D64</lei>
        <title>Siemens Gamesa Renewable Energy SA</title>
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          <isin value="ES0143416115"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Salazar Resources Ltd</name>
        <lei>254900WASDCCMF1KIX08</lei>
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          <isin value="CA7940071045"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Troilus Gold Corp</name>
        <lei>529900ROF3ICFG84XJ17</lei>
        <title>Troilus Gold Corp.</title>
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          <isin value="CA8968871068"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>San Juan Basin Royalty Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GoviEx Uranium Inc</name>
        <lei>5299001I7FX6JUNIPU44</lei>
        <title>GoviEx Uranium, Inc.</title>
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          <isin value="CA3837981057"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ball Corp</name>
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        <title>Ball Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
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        <title>Government National Mortgage Association</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Nucor Corp</name>
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        <title>Nucor Corp.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CRUZSUR ENERGY CORP</name>
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        <title>CruzSur Energy Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Surgutneftegas PJSC</name>
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        <invCountry>RU</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lundin Gold Inc</name>
        <lei>549300ZOV16K515FC525</lei>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Talon Metals Corp</name>
        <lei>N/A</lei>
        <title>Talon Metals Corp.</title>
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      <invstOrSec>
        <name>South32 Ltd</name>
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      <invstOrSec>
        <name>Halliburton Co</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AngloGold Ashanti Ltd</name>
        <lei>378900EF3BA9A5F42A59</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>ZA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Woodside Petroleum Ltd</name>
        <lei>2549005ZC5RXAOO7FH41</lei>
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        <name>Filo Mining Corp</name>
        <lei>54930049JO3VWJU1B514</lei>
        <title>Filo Mining Corp.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mondi PLC</name>
        <lei>213800LOZA69QFDC9N34</lei>
        <title>Mondi PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Revival Gold Inc</name>
        <lei>529900X2G2T7XSIDUH63</lei>
        <title>Revival Gold, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Smurfit Kappa Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LUKOIL PJSC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Troilus Gold Corp.</name>
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      <invstOrSec>
        <name>Lundin Mining Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <name>Range Energy Resources Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teucrium Soybean Fund</name>
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        <title>Teucrium Soybean Fund</title>
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          <isin value="US88166A6073"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Champion Iron Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ivanhoe Mines Ltd</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mosaic Co/The</name>
        <lei>2YD5STGSJNMUB7H76907</lei>
        <title>The Mosaic Co.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Mako Mining Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Atlantica Yield plc</name>
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        <title>Atlantica Yield PLC</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Impala Platinum Holdings Ltd</name>
        <lei>254900BZFIFB4PD2Z778</lei>
        <title>Impala Platinum Holdings, Ltd.</title>
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          <isin value="US4525533083"/>
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        <invCountry>ZA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Canadian Solar Inc</name>
        <lei>5493001XSC6TKMBVOM15</lei>
        <title>Canadian Solar, Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>VanEck Vectors Gold Miners ETF</name>
        <lei>54930031TORTKAM9TJ98</lei>
        <title>VanEck Vectors Gold Miners ETF</title>
        <cusip>92189F106</cusip>
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          <isin value="US92189F1066"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Impala Platinum Holdings Ltd</name>
        <lei>254900BZFIFB4PD2Z778</lei>
        <title>Impala Platinum Holdings, Ltd.</title>
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        <name>Pacific Green Energy Corp.</name>
        <lei>6X064LF7Y6B4DKF2GZ26</lei>
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        <name>CF Industries Holdings Inc</name>
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        <name>Mene Inc</name>
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        <title>Mene, Inc.</title>
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        <name>Anglo American PLC</name>
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        <name>N/A</name>
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        <name>Cia de Saneamento Basico do Es</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wheaton Precious Metals Corp</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>International Paper Co</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Africa Energy Corp</name>
        <lei>254900BPYN1AS2TNDR69</lei>
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          <isin value="CA00830W1059"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>First Cobalt Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kirkland Lake Gold Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Severstal PJSC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CNOOC Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Luminex Res Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>First Quantum Minerals Ltd</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Canfor Pulp Products Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MMC Norilsk Nickel PJSC</name>
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        <title>MMC Norilsk Nickel PJSC</title>
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        <invCountry>RU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Consolidated Growth Holdings L</name>
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        <name>Brixton Metals Corp</name>
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        <name>Niocan Inc</name>
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        <name>Ingredion Inc</name>
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        <name>Lumina Gold Corp</name>
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        <name>Aguia Resources Ltd</name>
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        <name>Caribbean Resources Corp</name>
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        <name>CNOOC Ltd</name>
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        <name>Vestas Wind Systems A/S</name>
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        <name>Galway Metals Inc</name>
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        <invCountry>CA</invCountry>
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        <name>POSCO</name>
        <lei>988400E5HRVX81AYLM04</lei>
        <title>POSCO</title>
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        <invCountry>KR</invCountry>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rayonier Inc</name>
        <lei>HGV8VDVNL0W6SF2U9C50</lei>
        <title>Rayonier, Inc.</title>
        <cusip>754907103</cusip>
        <identifiers>
          <isin value="US7549071030"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117750.00000000</valUSD>
        <pctVal>0.348904582875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aberdeen Standard Physical Pal</name>
        <lei>549300EIRBI2WQDV5H69</lei>
        <title>Aberdeen Standard Physical Palladium Shares ETF</title>
        <cusip>003262102</cusip>
        <identifiers>
          <isin value="US0032621023"/>
        </identifiers>
        <balance>15.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3332.82000000</valUSD>
        <pctVal>0.009875466428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sterling Group Ventures Inc</name>
        <lei>N/A</lei>
        <title>Sterling Group Ventures, Inc.</title>
        <cusip>85932R104</cusip>
        <identifiers>
          <isin value="US85932R1041"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.01000000</valUSD>
        <pctVal>0.000000029630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Red Pine Exploration Inc</name>
        <lei>529900U8LGGUG3E2NC68</lei>
        <title>Red Pine Exploration, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CA75686Y4058"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40729976"/>
        <valUSD>21317.42000000</valUSD>
        <pctVal>0.063165567159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Norbord Inc</name>
        <lei>549300VL705RQ5PHI407</lei>
        <title>Norbord, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CA65548P4033"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.40730001"/>
        <valUSD>118311.66000000</valUSD>
        <pctVal>0.350568835512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pacific Infrastructure Ventures, Inc.</name>
        <lei>N/A</lei>
        <title>Infrastructure Ventures, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="155611"/>
        </identifiers>
        <balance>4700000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>215260.00000000</valUSD>
        <pctVal>0.637836097747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-05-28</ncom:dateSigned>
      <ncom:nameOfApplicant>US Global Investors Funds</ncom:nameOfApplicant>
      <ncom:signature>/s/ Karen Shaw</ncom:signature>
      <ncom:signerName>Karen Shaw</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
