NPORT-P false 0000101507 XXXXXXXX S000023572 C000069383 U.S. GLOBAL INVESTORS FUNDS 811-01800 0000101507 254900I1ONHL0TVFXN37 THREE CANAL PLAZA, SUITE 600 PORTLAND 04101 207-347-2000 USGI EMERGING EUROPE FUND S000023572 254900EY9403EP693506 2020-12-31 2020-06-30 N 23995106.21 74575.04 23920531.17 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1770366.62000000 N Ulker Biskuvi Sanayi AS 7890009HEU9BS7J3DA93 N/A 56500.00000000 NS 200554.21000000 0.838418714763 Long EC CORP TR N 2 N N N Gazprom Neft PJSC 253400KXA9P2AN72P004 36829G107 1550.00000000 NS USD 35650.00000000 0.149035152048 Long EC CORP RU N 1 N N N Turk Hava Yollari AO 789000EV8M3BL7ZPFB03 N/A 70000.00000000 NS 127417.60000000 0.532670445712 Long EC CORP TR N 2 N N N adidas AG 549300JSX0Z4CW0V5023 N/A 360.00000000 NS 94914.63000000 0.396791481449 Long EC CORP DE N 2 N N N Turk Telekomunikasyon AS 789000A2TXOI10JZLF90 N/A 202700.00000000 NS 239918.04000000 1.002979567196 Long EC CORP TR N 2 N N N Surgutneftegas PJSC 2138002GZLU65FRAC894 868861204 65750.00000000 NS USD 351433.75000000 1.469172015882 Long EC CORP RU N 1 N N N Eurobank Ergasias Services and JEUVK5RWVJEN8W0C9M24 N/A 242000.00000000 NS 112061.72000000 0.468475048499 Long EC CORP GR N 2 N N N N/A N/A 10S9968G5 400.00000000 NC USD 59000.00000000 0.246650041258 N/A DE CORP US N 2 The Options Clearing Corporation 549300CII6SLYGKNHA04 Put Purchased N/A N/A 100.00000000 12.00000000 USD 2020-12-22 XXXX -12040.52000000 N N N Novolipetsk Steel PJSC 213800913TPW32I84456 N/A 15000.00000000 NS USD 298556.30000000 1.248117351066 Long EC CORP RU N 1 N N N Dino Polska SA 259400H4L81SMPRTW956 N/A 2740.00000000 NS 139570.62000000 0.583476257312 Long EC CORP PL Y 2 N N N Alpha Bank AE 5299009N55YRQC69CN08 N/A 136200.00000000 NS 102317.71000000 0.427740125304 Long EC CORP GR N 2 N N N N/A N/A N/A 1.00000000 NC N/A 1683603.00000000 7.038317786653 N/A DFE N/A N 2 BROWN BROTHERS HARRIMAN & CO 5493006KMX1VFTPYPW14 1500000.00000000 EUR 1684875.00000000 USD 2020-07-23 -1272.00000000 N N N Kardemir Karabuk Demir Celik S 789000HKISRM8ZEH0128 N/A 65000.00000000 NS 30813.66000000 0.128816788310 Long EC CORP TR N 2 N N N O2 Czech Republic AS 3157004ICDH3MRKW7534 N/A 6400.00000000 NS 59160.05000000 0.247319131751 Long EC CORP CZ N 2 N N N OMV Petrom SA 549300UKYDM6L8HEPU79 N/A 1318000.00000000 NS 99535.92000000 0.416110826689 Long EC CORP RO N 2 N N N LPP SA 259400NUS7MKGPJL4752 N/A 61.00000000 NS 93087.64000000 0.389153732993 Long EC CORP PL N 2 N N N Yapi ve Kredi Bankasi AS B85ZYWEZ5IZCZ2WNIO12 N/A 345000.00000000 NS 123112.62000000 0.514673437329 Long EC CORP TR N 2 N N N Aygaz AS 7890000PALXE0100Q814 N/A 42000.00000000 NS 73751.83000000 0.308320201904 Long EC CORP TR N 2 N N N Hermes International 969500Y4IJGHJE2MTJ13 N/A 35.00000000 NS 29386.27000000 0.122849571320 Long EC CORP FR N 2 N N N Magnitogorsk Iron & Steel Work 253400XSJ4C01YMCXG44 N/A 22900.00000000 NS USD 153881.18000000 0.643301684675 Long EC CORP RU N 1 N N N Ford Otomotiv Sanayi AS 7890006XJG6ZE2H34671 N/A 4800.00000000 NS 49809.48000000 0.208228988085 Long EC CORP TR N 2 N N N PhosAgro PJSC 25340053KRUNNYUWF472 71922G209 12000.00000000 NS USD 147840.00000000 0.618046476264 Long EC CORP RU N 1 N N N Industria de Diseno Textil SA 549300TTCXZOGZM2EY83 N/A 3850.00000000 NS 102153.79000000 0.427054856240 Long EC CORP ES N 2 N N N Turkcell Iletisim Hizmetleri A 7890003EX1LTLS2FFL84 N/A 119000.00000000 NS 283709.28000000 1.186049247751 Long EC CORP TR N 2 N N N Sistema PJSFC 213800JSZ2UUK4QQK694 48122U204 47000.00000000 NS USD 221956.23000000 0.927890055712 Long EC CORP RU N 1 N N N CD Projekt SA 259400TYO5Q8SH8TL437 N/A 3350.00000000 NS 337591.24000000 1.411303275837 Long EC CORP PL N 2 N N N Turkiye Garanti Bankasi AS 5493002XSS7K7RHN1V37 N/A 260000.00000000 NS 320581.23000000 1.340192772985 Long EC CORP TR N 2 N N N Enerjisa Enerji AS 789000D0QULW3EE31N02 N/A 103000.00000000 NS 129234.36000000 0.540265427559 Long EC CORP TR N 2 N N N Eregli Demir ve Celik Fabrikal 789000VYQF5IDGG49908 N/A 133500.00000000 NS 167237.82000000 0.699139240727 Long EC CORP TR N 2 N N N Hellenic Telecommunications Or ELPUFM0XZRZO4LFXW404 N/A 18650.00000000 NS 251924.16000000 1.053171261999 Long EC CORP GR N 2 N N N Novatek PJSC 2138008R6GCRVBDFA581 669888109 2025.00000000 NS USD 287944.27000000 1.203753662297 Long EC CORP RU N 1 N N N KRUK SA 259400T1FZYBIW8XUJ78 N/A 9000.00000000 NS 246855.37000000 1.031981138903 Long EC CORP PL N 2 N N N Tekfen Holding AS N/A N/A 57600.00000000 NS 142824.66000000 0.597079801384 Long EC CORP TR N 2 N N N MOL Hungarian Oil & Gas PLC 213800R83KX5FQFGXS67 N/A 27610.00000000 NS 163233.88000000 0.682400732826 Long EC CORP HU N 2 N N N MMC Norilsk Nickel PJSC 253400JPTEEW143W3E47 55315J102 18650.00000000 NS USD 491054.50000000 2.052857842119 Long EC CORP RU N 1 N N N Sberbank of Russia PJSC 549300WE6TAF5EEWQS81 80585Y308 148750.00000000 NS USD 1686825.00000000 7.051787387211 Long EC CORP RU N 1 N N N Allianz SE 529900K9B0N5BT694847 N/A 698.00000000 NS 142631.00000000 0.596270203978 Long EC CORP DE N 2 N N N Yandex NV 549300GGZHJ5Q1B18P93 N97284108 4300.00000000 NS USD 215086.00000000 0.899168996170 Long EC CORP NL N 1 N N N Orsu Metals Corp. N/A N/A 402500.00000000 NS 83014.14000000 0.347041373830 Long EC CORP VG Y 1 N N N Migros Ticaret AS 5493002IOWNT1QZMAA74 N/A 22700.00000000 NS 127753.15000000 0.534073215565 Long EC CORP TR N 2 N N N Sok Marketler Ticaret AS N/A N/A 84000.00000000 NS 164702.39000000 0.688539852353 Long EC CORP TR N 2 N N N Tatneft PJSC 253400PAT768SVJMV121 876629205 21560.00000000 NS USD 1015303.52000000 4.244485679621 Long EC CORP RU N 1 N N N Lenta Plc 213800OMCE8QATH73N15 N/A 12000.00000000 NS USD 28472.44000000 0.119029296622 Long EC CORP CY N 1 N N N National Bank of Greece SA 5UMCZOEYKCVFAW8ZLO05 N/A 55800.00000000 NS 78961.61000000 0.330099734988 Long EC CORP GR N 2 N N N Pegasus Hava Tasimaciligi AS 789000B1MW5PQ58A8T03 N/A 14800.00000000 NS 120001.01000000 0.501665323178 Long EC CORP TR N 2 N N N ANDRITZ AG 549300VZKC61IR5U8G96 N/A 5650.00000000 NS 206003.99000000 0.861201570048 Long EC CORP AT N 2 N N N Ryanair Holdings PLC 635400BR2ROC1FVEBQ56 783513203 1500.00000000 NS USD 99510.00000000 0.416002467891 Long EC CORP IE N 1 N N N Polski Koncern Naftowy ORLEN S 259400VVMM70CQREJT74 N/A 13450.00000000 NS 213741.22000000 0.893547131043 Long EC CORP PL N 2 N N N Polymetal International PLC 213800JKJ5HJWYS4GR61 N/A 11000.00000000 NS 220228.29000000 0.920666386690 Long EC CORP JE N 2 N N N Globaltrans Investment PLC 213800D6EVVEJJW3MD09 N/A 4499.00000000 NS USD 24281.03000000 0.101507068665 Long EC CORP CY N 1 N N N Aegean Airlines SA 213800VI8OH5EJM18L21 N/A 12500.00000000 NS 56183.28000000 0.234874717458 Long EC CORP GR N 2 N N N Moscow Exchange MICEX-RTS PJSC 253400M5M1222KPNWE87 N/A 95000.00000000 NS 151549.52000000 0.633554158655 Long EC CORP RU N 2 N N N Powszechna Kasa Oszczednosci B P4GTT6GF1W40CVIMFR43 N/A 104450.00000000 NS 608240.52000000 2.542755073778 Long EC CORP PL N 2 N N N Eurocash SA 259400FVIQJS5VD8JO79 N/A 59400.00000000 NS 260797.66000000 1.090267010153 Long EC CORP PL N 2 N N N ROMGAZ SA 2549009R7KJ38D9RW354 N/A 6100.00000000 NS 45278.07000000 0.189285387010 Long EC CORP RO N 2 N N N Vestel Beyaz Esya Sanayi ve Ti 789000VRFVY3D0YO2710 N/A 42670.00000000 NS 161831.77000000 0.676539199108 Long EC CORP TR N 2 N N N LiveChat Software SA 259400W35VF4Q1XFFE11 N/A 3600.00000000 NS 58098.45000000 0.242881103212 Long EC CORP PL N 2 N N N Aselsan Elektronik Sanayi Ve T 7890008XT4M710MU8714 N/A 10000.00000000 NS 47207.71000000 0.197352264732 Long EC CORP TR N 2 N N N Aksa Akrilik Kimya Sanayii AS 789000OKY3ICX0Y2NY41 N/A 121000.00000000 NS 128868.42000000 0.538735612031 Long EC CORP TR N 2 N N N LUKOIL PJSC 549300LCJ1UJXHYBWI24 69343P105 25820.00000000 NS USD 1916360.40000000 8.011362232638 Long EC CORP RU N 1 N N N Colruyt SA 5493000O0NZ1BCXO8K39 N/A 950.00000000 NS 52211.46000000 0.218270487511 Long EC CORP BE N 2 N N N CCC SA 259400NWPQ2HCSMZP970 N/A 16300.00000000 NS 248188.27000000 1.037553339581 Long EC CORP PL N 2 N N N Koninklijke Ahold Delhaize NV 724500C9GNBV20UYRX36 500467501 4500.00000000 NS USD 122229.00000000 0.510979455812 Long EC CORP NL N 1 N N N Pandora A/S 5299007OWYZ6I1E46843 N/A 1615.00000000 NS 88202.41000000 0.368730984162 Long EC CORP DK N 2 N N N PZU QLPCKOOKVX32FUELX240 N/A 23200.00000000 NS 170744.92000000 0.713800704451 Long EC CORP PL N 2 N N N Mobile TeleSystems PJSC 2534008FX8EXH1FMJA74 607409109 29200.00000000 NS USD 268348.00000000 1.121831275789 Long EC CORP RU N 1 N N N Tupras Turkiye Petrol Rafineri 789000RCNG97UV50EE03 N/A 12900.00000000 NS 168749.42000000 0.705458498395 Long EC CORP TR N 2 N N N Moneta Money Bank AS I6USJ58BDV2BO5KP3C31 N/A 40000.00000000 NS 90594.64000000 0.378731723623 Long EC CORP CZ Y 2 N N N OTP Bank Nyrt 529900W3MOO00A18X956 N/A 16500.00000000 NS 580062.71000000 2.424957480574 Long EC CORP HU N 2 N N N Brisa Bridgestone Sabanci Sana 7890009FP0G5FFSEV512 N/A 20000.00000000 NS 36945.38000000 0.154450500022 Long EC CORP TR N 2 N N N Komercni banka as IYKCAVNFR8QGF00HV840 N/A 4000.00000000 NS 93307.23000000 0.390071731003 Long EC CORP CZ N 2 N N N Alacer Gold Corp 529900Z8EMNJMHWKNV66 N/A 25000.00000000 NS 171810.55000000 0.718255580442 Long EC CORP CA N 1 N N N N/A N/A N/A 1.00000000 NC N/A 869489.00000000 3.634906741078 N/A DFE N/A N 2 BROWN BROTHERS HARRIMAN & CO 5493006KMX1VFTPYPW14 6000000.00000000 TRY 869137.00000000 USD 2020-07-29 352.00000000 N N N TCS Group Holding PLC 549300XQRN9MR54V1W18 N/A 12600.00000000 NS USD 255801.31000000 1.069379723142 Long EC CORP CY N 1 N N N Asseco Poland SA 259400O79EWIK4XZPL40 N/A 12000.00000000 NS 200926.10000000 0.839973404319 Long EC CORP PL N 2 N N N Otokar Otomotiv Ve Savunma San 5493000NBAE8C7SELC90 N/A 3000.00000000 NS 65787.92000000 0.275027003089 Long EC CORP TR N 2 N N N Highland Gold Mining Ltd 213800QQFH2CBTW5BX79 N/A 25000.00000000 NS 72354.86000000 0.302480156003 Long EC CORP JE N 2 N N N Banca Transilvania SA 549300RG3H390KEL8896 N/A 145220.00000000 NS 72052.55000000 0.301216346275 Long EC CORP RO N 2 N N N Moncler SpA 815600EBD7FB00525B20 N/A 2950.00000000 NS 113437.94000000 0.474228348834 Long EC CORP IT N 2 N N N Oesterreichische Post AG 529900MVUWACNUTK8467 N/A 620.00000000 NS 20527.38000000 0.085814900405 Long EC CORP AT N 2 N N N Magyar Telekom Telecommunicati 529900CA1YDA41X76751 N/A 135000.00000000 NS 163983.60000000 0.685534944164 Long EC CORP HU N 2 N N N Polyus PJSC 549300FUXVT7TF6ZKV71 N/A 4600.00000000 NS USD 387082.49000000 1.618201900488 Long EC CORP RU N 1 N N N Detsky Mir PJSC 25340094SFG83VJ0YP24 N/A 140000.00000000 NS 198372.32000000 0.829297303601 Long EC CORP RU Y 2 N N N DXC Technology Co 549300DOVZ3EDJB7O259 23355L106 1000.00000000 NS USD 16500.00000000 0.068978401368 Long EC CORP US N 1 N N N Gazprom PJSC 213800FD9J2IHTA7YX78 368287207 329300.00000000 NS USD 1778197.94000000 7.433772801124 Long EC CORP RU N 1 N N N Hellenic Petroleum SA 213800YUBJMZYR1SNG35 N/A 22500.00000000 NS 150240.27000000 0.628080827019 Long EC CORP GR N 2 N N N Tofas Turk Otomobil Fabrikasi 789000YSTNETKLRWHT29 N/A 9800.00000000 NS 38135.52000000 0.159425891210 Long EC CORP TR N 2 N N N Bank Polska Kasa Opieki SA 5493000LKS7B3UTF7H35 N/A 22800.00000000 NS 312405.36000000 1.306013473445 Long EC CORP PL N 2 N N N Dogan Sirketler Grubu Holding 789000J24Q4JM3H6UX22 N/A 92000.00000000 NS 28193.59000000 0.117863561639 Long EC CORP TR N 2 N N N HUGO BOSS AG 529900LFVU534EBRXD13 N/A 7650.00000000 NS 231839.62000000 0.969207658276 Long EC CORP DE N 2 N N N Christian Dior SE 969500WESYQMQ1F2C272 N/A 235.00000000 NS 99986.41000000 0.417994104267 Long EC CORP FR N 2 N N N Mytilineos SA 213800KT8MEUJEJ2KW41 N/A 24700.00000000 NS 203335.34000000 0.850045254241 Long EC CORP GR N 2 N N N TEN Square Games SA 2594005719IKYHOINE82 N/A 550.00000000 NS 73108.55000000 0.305630963963 Long EC CORP PL N 2 N N N Motor Oil Hellas Corinth Refin 213800U3Y9UL7Y4QVM11 N/A 8000.00000000 NS 110509.65000000 0.461986605626 Long EC CORP GR N 2 N N N X5 Retail Group NV 213800J17UJJJDGUVF56 98387E205 7750.00000000 NS USD 274873.92000000 1.149112944217 Long EC CORP NL N 1 N N N Rosneft Oil Co PJSC 253400JT3MQWNDKMJE44 N/A 62000.00000000 NS USD 311594.21000000 1.302622453429 Long EC CORP RU N 1 N N N Turk Traktor ve Ziraat Makinel N/A N/A 2000.00000000 NS 23035.53000000 0.096300244489 Long EC CORP TR N 2 N N N Severstal PAO 213800OKDPTV6K4ONO53 818150302 17200.00000000 NS USD 208608.48000000 0.872089664386 Long EC CORP RU N 1 N N N PLAY Communications SA 222100EYB9HNJPI80514 N/A 15200.00000000 NS 117375.81000000 0.490690650495 Long EC CORP LU N 2 N N N BIM Birlesik Magazalar AS 7890001GCDJQD8DJKE29 N/A 12600.00000000 NS 124923.67000000 0.522244548468 Long EC CORP TR N 2 N N N Evraz PLC 5493005B7DAN39RXLK23 N/A 62000.00000000 NS 219671.29000000 0.918337843080 Long EC CORP GB N 2 N N N Aeroflot PJSC 253400MSLG0NS4C3NB96 N/A 75000.00000000 NS 86500.50000000 0.361616133794 Long EC CORP RU N 2 N N N Magnit PJSC 2534009KKPTVL99W2Y12 N/A 7000.00000000 NS USD 91028.71000000 0.380546357240 Long EC CORP RU N 1 N N N N/A N/A N/A 1.00000000 NC N/A 1315278.00000000 5.498531745187 N/A DFE N/A N 2 BROWN BROTHERS HARRIMAN & CO 5493006KMX1VFTPYPW14 9000000.00000000 TRY 1311992.00000000 USD 2020-07-13 3286.00000000 N N N Inter RAO UES PJSC 253400PMFKF8Q8G1FA17 N/A 2911000.00000000 NS 199470.18000000 0.833886917403 Long EC CORP RU N 2 N N N KOC Holding AS 7890005U0H950VH19H45 N/A 52000.00000000 NS 136768.07000000 0.571760171327 Long EC CORP TR N 2 N N N 2020-08-26 US Global Investors Funds /s/ Karen Shaw Karen Shaw Treasurer