0001437749-24-001936.txt : 20240123 0001437749-24-001936.hdr.sgml : 20240123 20240123141531 ACCESSION NUMBER: 0001437749-24-001936 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240123 DATE AS OF CHANGE: 20240123 EFFECTIVENESS DATE: 20240123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: U S GLOBAL INVESTORS INC CENTRAL INDEX KEY: 0000754811 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] ORGANIZATION NAME: 02 Finance IRS NUMBER: 741598370 STATE OF INCORPORATION: TX FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-02220 FILM NUMBER: 24552009 BUSINESS ADDRESS: STREET 1: 7900 CALLAGHAN RD CITY: SAN ANTONIO STATE: TX ZIP: 78229 BUSINESS PHONE: 2103081234 MAIL ADDRESS: STREET 1: 7900 CALLAGHAN ROAD CITY: SAN ANTONIO STATE: TX ZIP: 78229 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SERVICES ADVISORS INC /TX/ DATE OF NAME CHANGE: 19950321 13F-HR 1 primary_doc.xml X0202 13F-HR LIVE 0000754811 XXXXXXXX 028-02220 12-31-2023 12-31-2023 U S GLOBAL INVESTORS INC

7900 CALLAGHAN ROAD SAN ANTONIO TX 78229

13F HOLDINGS REPORT 028-02220 N Lisa Callicotte 210-308-1234 /s/ Lisa Callicotte San Antonio TX 01-23-2024 0 181 1486700852 false INFORMATION TABLE 2 F13InfoTable_64902.xml AGNICO EAGLE MINES LTD COM 008474108 274250 5000 SH SOLE 0 5000 0 AGNICO EAGLE MINES LTD COM 008474108 2194000 40000 SH SOLE 0 40000 0 ALAMOS GOLD INC NEW COM CL A 011532108 3030750 225000 SH SOLE 0 225000 0 ATLAS LITHIUM CORP COM NEW 105861306 125120 4000 SH SOLE 0 4000 0 CF INDS HLDGS INC COM 125269100 437250 5500 SH SOLE 0 5500 0 CANADIAN SOLAR INC COM 136635109 262300 10000 SH SOLE 0 10000 0 CARNIVAL CORP COMMON STOCK 143658300 838008 45200 SH SOLE 0 45200 0 CHESAPEAKE ENERGY CORP COM 165167735 577050 7500 SH SOLE 0 7500 0 COEUR MNG INC COM NEW 192108504 58900 775 SH Call SOLE 0 775 0 COEUR MNG INC COM NEW 192108504 64600 850 SH Call SOLE 0 850 0 COEUR MNG INC COM NEW 192108504 125400 1650 SH Call SOLE 0 1650 0 COTY INC COM CL A 222070203 981180 79000 SH SOLE 0 79000 0 DECKERS OUTDOOR CORP COM 243537107 802116 1200 SH SOLE 0 1200 0 DENISON MINES CORP COM 248356107 265500 150000 SH SOLE 0 150000 0 ELDORADO GOLD CORP NEW COM 284902509 972750 75000 SH SOLE 0 75000 0 FRANCO NEV CORP COM 351858105 398916 3600 SH SOLE 0 3600 0 FRANCO NEV CORP COM 351858105 831075 7500 SH SOLE 0 7500 0 HALLIBURTON CO COM 406216101 361500 10000 SH SOLE 0 10000 0 HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300 3075000 500000 SH SOLE 0 500000 0 IAMGOLD CORP COM 450913108 759000 300000 SH SOLE 0 300000 0 KINROSS GOLD CORP COM 496902404 1512500 250000 SH SOLE 0 250000 0 KRANESHARES TR GLOBAL CARB STRA 500767678 18245 500 SH SOLE 0 500 0 LAS VEGAS SANDS CORP COM 517834107 1454156 29550 SH SOLE 0 29550 0 MARRIOTT INTL INC NEW CL A 571903202 1815356 8050 SH SOLE 0 8050 0 NEW GOLD INC CDA COM 644535106 51100 35000 SH SOLE 0 35000 0 NEW GOLD INC CDA COM 644535106 219000 150000 SH SOLE 0 150000 0 NEW GOLD INC CDA COM 644535106 1460000 1000000 SH SOLE 0 1000000 0 NEWMONT CORP COM 651639106 47150 115 SH Call SOLE 0 115 0 NEWMONT CORP COM 651639106 51250 125 SH Call SOLE 0 125 0 NEWMONT CORP COM 651639106 106600 260 SH Call SOLE 0 260 0 CHORD ENERGY CORPORATION COM NEW 674215207 332460 2000 SH SOLE 0 2000 0 OCCIDENTAL PETE CORP COM 674599105 597100 10000 SH SOLE 0 10000 0 ROYAL GOLD INC COM 780287108 393120 3250 SH SOLE 0 3250 0 ROYAL GOLD INC COM 780287108 1209600 10000 SH SOLE 0 10000 0 SCHLUMBERGER LTD COM 806857108 624480 12000 SH SOLE 0 12000 0 STANDARD LITHIUM LTD COM 853606101 151500 75000 SH SOLE 0 75000 0 TOLL BROTHERS INC COM 889478103 637298 6200 SH SOLE 0 6200 0 WHEATON PRECIOUS METALS CORP COM 962879102 1233500 25000 SH SOLE 0 25000 0 APA CORPORATION COM 03743Q108 358800 10000 SH SOLE 0 10000 0 BLACK STONE MINERALS L P COM UNIT 09225M101 798000 50000 SH SOLE 0 50000 0 CAMECO CORP COM 13321L108 215500 5000 SH SOLE 0 5000 0 CHENIERE ENERGY INC COM NEW 16411R208 1280325 7500 SH SOLE 0 7500 0 CONOCOPHILLIPS COM 20825C104 174105 1500 SH SOLE 0 1500 0 DAQO NEW ENERGY CORP SPNSRD ADS NEW 23703Q203 399000 15000 SH SOLE 0 15000 0 DIREXION SHS ETF TR DLY GOLD INDX 2X 25460G781 6643 191 SH SOLE 0 191 0 DIREXION SHS ETF TR DLY GOLD INDX 2X 25460G781 94428 2715 SH SOLE 0 2715 0 DIREXION SHS ETF TR DLY GOLD INDX 2X 25460G781 215427 6194 SH SOLE 0 6194 0 DIREXION SHS ETF TR DAILY JR GLD MIN 25460G831 6880 203 SH SOLE 0 203 0 DIREXION SHS ETF TR DAILY JR GLD MIN 25460G831 101467 2994 SH SOLE 0 2994 0 DIREXION SHS ETF TR DAILY JR GLD MIN 25460G831 240721 7103 SH SOLE 0 7103 0 DRDGOLD LIMITED SPON ADR REPSTG 26152H301 954000 120000 SH SOLE 0 120000 0 ETF MANAGERS GRP COMMDTY TR BREAKWAVE DRY 26923H200 3468 300 SH SOLE 0 300 0 GLOBAL X FDS RGLOBAL X SILVER 37954Y848 22696 800 SH SOLE 0 800 0 GLOBAL X FDS GLOBAL X URANIUM 37954Y871 30459 1100 SH SOLE 0 1100 0 GOLD FIELDS LTD SPONSORED ADR 38059T106 2096700 145000 SH SOLE 0 145000 0 GOLD RESOURCE CORP COM 38068T105 376000 1000000 SH SOLE 0 1000000 0 ISHARES SILVER TR ISHARES 46428Q109 37026 1700 SH SOLE 0 1700 0 IVANHOE ELECTRIC COM 46578C108 166310 16499 SH SOLE 0 16499 0 JPMORGAN CHASE & CO COM 46625H100 1156680 6800 SH SOLE 0 6800 0 KIMBELL RTY PARTNERS LP UNIT 49435R102 827750 55000 SH SOLE 0 55000 0 OSISKO GOLD ROYALTIES LTD COM 68827L101 214200 15000 SH SOLE 0 15000 0 OSISKO GOLD ROYALTIES LTD COM 68827L101 214200 15000 SH SOLE 0 15000 0 OSISKO GOLD ROYALTIES LTD COM 68827L101 442680 31000 SH SOLE 0 31000 0 OSISKO GOLD ROYALTIES LTD COM 68827L101 1071000 75000 SH SOLE 0 75000 0 PARAMOUNT GOLD NEV CORP COM 69924M109 63750 170000 SH SOLE 0 170000 0 RANGE RES CORP COM 75281A109 304400 10000 SH SOLE 0 10000 0 SANDSTORM GOLD LTD COM NEW 80013R206 1006000 200000 SH SOLE 0 200000 0 SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 543000 100000 SH SOLE 0 100000 0 SILVERCORP METALS INC COM 82835P103 657500 250000 SH SOLE 0 250000 0 VALERO ENERGY CORP COM 91913Y100 357500 2750 SH SOLE 0 2750 0 VOX ROYALTY CORP COM 92919F103 412000 200000 SH SOLE 0 200000 0 VOX ROYALTY CORP COM 92919F103 3090000 1500000 SH SOLE 0 1500000 0 ANGLOGOLD ASHANTI PLC COM SHS G0378L100 934500 50000 SH SOLE 0 50000 0 ANGLOGOLD ASHANTI PLC COM SHS G0378L100 10800 180 SH Call SOLE 0 180 0 ANGLOGOLD ASHANTI PLC COM SHS G0378L100 10800 180 SH Call SOLE 0 180 0 ANGLOGOLD ASHANTI PLC COM SHS G0378L100 25500 425 SH Call SOLE 0 425 0 ATLANTICA SUSTAINABLE INFR P SHS G0751N103 376250 17500 SH SOLE 0 17500 0 CAPRI HOLDINGS LIMITED SHS G1890L107 75360 1500 SH SOLE 0 1500 0 LINDE PLC SHS G54950103 821420 2000 SH SOLE 0 2000 0 NORWEGIAN CRUISE LINE HLDG L SHS G66721104 941880 47000 SH SOLE 0 47000 0 ON HLDG AG NAMEN AKT A H5919C104 107880 4000 SH SOLE 0 4000 0 FERRARI N V COM N3167Y103 2436696 7200 SH SOLE 0 7200 0 ROYAL CARIBBEAN GROUP COM V7780T103 116541 900 SH SOLE 0 900 0 CLEARWAY ENERGY INC CL C 18539C204 356590 13000 SH SOLE 0 13000 0 CLEVELAND-CLIFFS INC NEW COM 185899101 408400 20000 SH SOLE 0 20000 0 CONSTELLATION BRANDS INC CL A 21036P108 1776863 7350 SH SOLE 0 7350 0 DIREXION SHS ETF TR HYDROGEN ETF 25460G617 21219 1735 SH SOLE 0 1735 0 LAUDER ESTEE COS INC CL A 518439104 731250 5000 SH SOLE 0 5000 0 ETF MANAGERS TR PRIME JUNIR SLVR 26924G102 29000 2900 SH SOLE 0 2900 0 FIRST TR EXCHANGE-TRADED FD GBL WND ENRG ETF 33736G106 16480 1000 SH SOLE 0 1000 0 FORTUNA SILVER MINES INC COM 349915108 77200 20000 SH SOLE 0 20000 0 FORTUNA SILVER MINES INC COM 349915108 772000 200000 SH SOLE 0 200000 0 GLOBAL X FDS GLOBAL X COPPER 37954Y830 75000 2000 SH SOLE 0 2000 0 GLOBAL X FDS LITHIUM BTRY ETF 37954Y855 35658 700 SH SOLE 0 700 0 GLOBAL X FDS US INFR DEV ETF 37954Y673 34460 1000 SH SOLE 0 1000 0 INVESCO EXCH TRADED FD TR II SOLAR ETF 46138G706 16005 300 SH SOLE 0 300 0 ISHARES TR GL CLEAN ENE ETF 464288224 45153 2900 SH SOLE 0 2900 0 ISHARES TR U.S. REAL ES ETF 464287739 36564 400 SH SOLE 0 400 0 KKR & CO INC COM 48251W104 1205468 14550 SH SOLE 0 14550 0 LULULEMON ATHLETICA INC COM 550021109 153387 300 SH SOLE 0 300 0 MARATHON OIL CORP COM 565849106 422800 17500 SH SOLE 0 17500 0 MARATHON PETE CORP COM 56585A102 445080 3000 SH SOLE 0 3000 0 NIKE INC CL B 654106103 40600 200 SH Call SOLE 0 200 0 PEABODY ENERGY CORP COM 704551100 364800 15000 SH SOLE 0 15000 0 PERMIAN RESOURCES CORP CLASS A COM 71424F105 204000 15000 SH SOLE 0 15000 0 SELECT WATER SOLUTIONS INC CL A COM 81617J301 379500 50000 SH SOLE 0 50000 0 SIGMA LITHIUM CORPORATION COM 826599102 252240 8000 SH SOLE 0 8000 0 SSR MINING IN COM 784730103 860800 80000 SH SOLE 0 80000 0 SYLVAMO CORP COMMON STOCK 871332102 392880 8000 SH SOLE 0 8000 0 TEMPUR SEALY INTL INC COM 88023U101 922557 18100 SH SOLE 0 18100 0 TEUCRIUM COMMODITY TR WHEAT FD 88166A508 39402 6600 SH SOLE 0 6600 0 UBS GROUP AG SHS H42097107 1498650 48500 SH SOLE 0 48500 0 UR-ENERGY INC COM 91688R108 231000 150000 SH SOLE 0 150000 0 UNITED STS NAT GAS FD LP UNIT PAR 912318300 23322 4600 SH SOLE 0 4600 0 VANECK ETF TRUST RARE EARTH/STRTG 92189H805 24620 400 SH SOLE 0 400 0 VANECK ETF TRUST STEEL ETF 92189F205 36878 500 SH SOLE 0 500 0 VIPER ENERGY INC CL A 927959106 627600 20000 SH SOLE 0 20000 0 AIR TRANSPORT SE COM 00922R105 34909254 1982354 SH SOLE 0 1982354 0 ALASKA AIR GROUP COM 011659109 54218767 1387734 SH SOLE 0 1387734 0 ALLEGIANT TRAVEL COM 01748X102 53453214 647055 SH SOLE 0 647055 0 AMERICAN AIRLINE COM 02376R102 174159419 12675358 SH SOLE 0 12675358 0 AZUL SA-ADR SPONSR ADR PFD 05501U106 7681466 792721 SH SOLE 0 792721 0 B2GOLD CORP COM 11777Q209 2666206 843736 SH SOLE 0 843736 0 BOEING CO/THE COM 097023105 35779756 137266 SH SOLE 0 137266 0 BOOKING HOLDINGS COM 09857L108 36007830 10151 SH SOLE 0 10151 0 BUENAVENTURA-ADR SPONSORED ADR 204448104 2922910 191792 SH SOLE 0 191792 0 COPA HOLDIN-CL A CL A P31076105 17555714 165137 SH SOLE 0 165137 0 DELTA AIR LI COM NEW 247361702 178400297 4434509 SH SOLE 0 4434509 0 DRDGOLD LTD-ADR SPON ADR REPSTG 26152H301 2452162 308448 SH SOLE 0 308448 0 ELDORADO GOLD COM 284902509 2732390 210670 SH SOLE 0 210670 0 EMBRAER SA-ADR SPONSORED ADS 29082A107 7938131 430251 SH SOLE 0 430251 0 EURONAV NV SHS B38564108 92295 5247 SH SOLE 0 5247 0 EXPEDIA GROUP IN COM NEW 30212P303 34406846 226674 SH SOLE 0 226674 0 EXPEDITORS INTL COM 302130109 149969 1179 SH SOLE 0 1179 0 FEDEX CORP COM 31428X106 136351 539 SH SOLE 0 539 0 FRANCO-NEVADA CO COM 351858105 9262165 83586 SH SOLE 0 83586 0 FRONTIER GROUP H COM 35909R108 57240702 10483645 SH SOLE 0 10483645 0 GENERAL DYNAMICS COM 369550108 32771912 126206 SH SOLE 0 126206 0 GRUPO AEROPO-ADR SPON ADR SER B 40051E202 10192924 34638 SH SOLE 0 34638 0 GXO LOGISTIC COMMON STOCK 36262G101 151188 2472 SH SOLE 0 2472 0 HARMONY GOLD-ADR SPONSORED ADR 413216300 3694465 600726 SH SOLE 0 600726 0 INTERNATIONAL SE COM Y41053102 192380 4230 SH SOLE 0 4230 0 JETBLUE AIRWAYS COM 477143101 54286365 9781327 SH SOLE 0 9781327 0 MAKEMYTRIP LTD SHS V5633W109 8528232 181529 SH SOLE 0 181529 0 MATSON INC COM 57686G105 109271 997 SH SOLE 0 997 0 NEW GOLD INC COM 644535106 2861101 1959658 SH SOLE 0 1959658 0 OSISKO GOLD ROYA COM 68827L101 3690737 258455 SH SOLE 0 258455 0 ROYAL GOLD INC COM 780287108 9180017 75893 SH SOLE 0 75893 0 RYANAIR HLDG-ADR SPONSORED ADS 783513203 17227845 129183 SH SOLE 0 129183 0 SANDSTORM GOLD COM NEW 80013R206 3690461 733690 SH SOLE 0 733690 0 SCORPIO TANKERS SHS Y7542C130 105853 1741 SH SOLE 0 1741 0 SIBANYE-STI-ADR SPONSORED ADR 82575P107 3323926 612141 SH SOLE 0 612141 0 SKYWEST INC COM 830879102 49995542 957769 SH SOLE 0 957769 0 SOUTHWEST AIR COM 844741108 179354821 6210347 SH SOLE 0 6210347 0 SSR MINING INC COM 784730103 2544084 236439 SH SOLE 0 236439 0 SUN COUNTRY HOLD COM 866683105 44838758 2850525 SH SOLE 0 2850525 0 TEEKAY TANK-CL A CL A Y8565N300 195732 3917 SH SOLE 0 3917 0 TEXTRON INC COM 883203101 32707216 406705 SH SOLE 0 406705 0 TORM PLC-A SHS CL A G89479102 266665 8769 SH SOLE 0 8769 0 TRIP.COM GRO-ADR ADS 89677Q107 17757143 493117 SH SOLE 0 493117 0 TRIPADVISOR INC COM 896945201 37336895 1734180 SH SOLE 0 1734180 0 UNITED AIRLINES COM 910047109 171637433 4159899 SH SOLE 0 4159899 0 UNITED PARCEL-B CL B 911312106 146538 932 SH SOLE 0 932 0 WHEATON PRECIOUS COM 962879102 9195101 186362 SH SOLE 0 186362 0 ZTO EXPRESS -ADR SPONSORED ADS A 98980A105 141214 6636 SH SOLE 0 6636 0 CENTERRA GOLD IN COM 152006102 358378 60000 SH SOLE 0 60000 0 CENTERRA GOLD IN COM 152006102 1493242 250000 SH SOLE 0 250000 0 CENTERRA GOLD IN COM 152006102 2747583 460003 SH SOLE 0 460003 0 CENTERRA GOLD IN COM 152006102 107513 18000 SH SOLE 0 18000 0 ELECTRA BATTERY COM NEW 28474P201 113267 300000 SH SOLE 0 300000 0 EMX ROYALTY CORP COM 26873J107 2010496 1250000 SH SOLE 0 1250000 0 ENCORE ENERGY CO COM NEW 29259W700 786831 200000 SH SOLE 0 200000 0 I-80 GOLD CORP COM 44955L106 351884 200000 SH SOLE 0 200000 0 IVANHOE ELECTRIC COM 46578C108 15168 1499 SH SOLE 0 1499 0 OSISKO GOLD ROYA COM 68827L101 1070943 75000 SH SOLE 0 75000 0 SILVERCREST META COM 828363101 1476440 225000 SH SOLE 0 225000 0 SILVERCREST META COM 828363101 393717 60000 SH SOLE 0 60000 0 SKEENA RESOURCES COM 83056P715 365287 75000 SH SOLE 0 75000 0 TRIPLE FLAG COM 89679M104 999018 75000 SH SOLE 0 75000 0 VIZSLA SILVER CO COM NEW 92859G202 157630 125000 SH SOLE 0 125000 0 VIZSLA SILVER CO COM NEW 92859G202 1261044 1000000 SH SOLE 0 1000000 0