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      <invstOrSec>
        <name>Federal Home Loan Bank</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>Federal Home Loan Bank</title>
        <cusip>3130A6C70</cusip>
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          <isin value="US3130A6C702"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>992867.27000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-12</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>U.S. Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bill</title>
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          <isin value="US912797PK77"/>
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        <curCd>USD</curCd>
        <valUSD>2781565.11000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-27</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>Federal Home Loan Mortgage Corp.</title>
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          <isin value="US3134GXR630"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>U.S. Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bill</title>
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          <isin value="US912797PB78"/>
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        <curCd>USD</curCd>
        <valUSD>996710.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-29</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal Home Loan Bank</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>Federal Home Loan Bank</title>
        <cusip>3130APH99</cusip>
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          <isin value="US3130APH992"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1433797.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.11000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>U.S. Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bill</title>
        <cusip>912797QC4</cusip>
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        <curCd>USD</curCd>
        <valUSD>1972307.70000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-29</maturityDt>
          <couponKind>None</couponKind>
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        <name>U.S. Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bill</title>
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        <curCd>USD</curCd>
        <valUSD>492237.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-14</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>U.S. Treasury Note/Bond</name>
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        <title>U.S. Treasury Note/Bond</title>
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        <curCd>USD</curCd>
        <valUSD>1501351.94000000</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>U.S. Treasury Bill</name>
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        <title>U.S. Treasury Bill</title>
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        <curCd>USD</curCd>
        <valUSD>1983260.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-12</maturityDt>
          <couponKind>None</couponKind>
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        <name>U.S. Treasury Bill</name>
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        <name>U.S. Treasury Bill</name>
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      <invstOrSec>
        <name>Federal Farm Credit Bank</name>
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        <name>U.S. Treasury Bill</name>
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    <signature>
      <ncom:dateSigned>2025-05-27</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>
