X0607 3 2026-04-01 0 0000754811 U S GLOBAL INVESTORS INC GROW 0002137707 Pilecki Derek Steven false 2502 N. ROCKY POINT DR. SUITE 665 TAMPA FL 33607 0 0 1 1 Managing Member Class A Common Stock (Non-Voting) 1062474 I Investment adviser with discretion over multiple client accounts (See Footnotes) This Form 3 is being filed jointly by Derek Pilecki and Gator Capital Management, LLC. Derek Pilecki is the Managing Member and 100% owner of Gator Capital Management, LLC, an investment adviser that exercises investment discretion over multiple client accounts holding shares of the Issuer. Derek Pilecki may be deemed to indirectly beneficially own the shares held by the accounts managed by Gator Capital Management, LLC by virtue of his control of that entity. Shares are held across the following accounts over which Gator Capital Management, LLC exercises investment discretion: Gator Financial Partners, LLC (916,799 shares); Gator Qualified Partners, LLC (64,753 shares); ECA Fund, LP (74,922 shares); Individual Managed Account (6,000 shares). Gator Capital Management, LLC and Derek Pilecki disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein. This Form 3 is being filed late. The Reporting Person became subject to the reporting obligations under Section 16(a) of the Securities Exchange Act of 1934 on April 1, 2026, the date on which the Reporting Person's beneficial ownership of the Issuer's Class A Common Stock exceeded 10% of the shares outstanding. The Reporting Person had been monitoring its ownership percentage using the share count reported in the Issuer's quarterly Form 10-Q for the period ended September 30, 2025, filed with the Commission on November 12, 2025. The Reporting Person subsequently determined that the Issuer's quarterly Form 10-Q for the period ended December 31, 2025, filed with the Commission on February 20, 2026, reflected a reduction in shares outstanding resulting from the Issuer's share repurchase program, which caused the Reporting Person's beneficial ownership percentage to exceed 10% as of April 1, 2026. Upon making this determination, the Reporting Person promptly filed this Form 3. /s/ Derek Pilecki 2026-06-02