U S Global Investors Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 23, 2024), U S Global Investors Inc. reported 127 stock positions worth $1.1 billion. Its top holding was Delta Air Lines (DAL) at 14.6% of the portfolio, followed by United Airlines (UAL, 14.5%) and American Airlines (AAL, 9.4%). Compared with Q1 2024, it opened 21 new positions, sold out of 37, added to 28 and reduced 37. The biggest buy was Wheaton Precious Metals (WPM, shares +10%) and the biggest sale American Airlines (AAL, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- SAN ANTONIO, TX
- CIK
- 0000754811
- Portfolio Value
- $1.1B (Q2 2024)
- SEC Filing
- 0001437749-24-023260 ↗ filed Jul 23, 2024
Holdings Value
Holdings 127 stocks · $1.1B
| DAL Delta Air Lines Inc. | 14.57% | 3,012,604 | $153.7M | Reduce -9.2% |
| UAL United Airlines Holdings Inc. | 14.46% | 2,878,821 | $152.5M | Reduce -9.3% |
| AAL American Airlines Group Inc. | 9.36% | 8,580,069 | $98.7M | Reduce -9.3% |
| LUV Southwest Airlines Co. | 9.32% | 3,662,890 | $98.3M | Reduce -9.3% |
| ALK Alaska Air Group Inc. | 3.76% | 943,451 | $39.6M | Reduce -9.3% |
| SKYW Skywest Inc. | 3.74% | 528,468 | $39.5M | Reduce -9.3% |
| JBLU Jetblue Airways Corp. | 2.73% | 5,146,965 | $28.8M | Reduce -9.3% |
| BKNG Booking Holdings Inc. | 2.49% | 6,964 | $26.3M | Reduce -7.9% |
| ALGT Allegiant Travel Co. | 2.46% | 488,231 | $26.0M | Reduce -9.3% |
| GD General Dynamics Corp. | 2.44% | 85,831 | $25.7M | Reduce -9.3% |
| SNCY Sun Country Airlines Holding filed as SUN CTRY AIRLS HLDGS INC | 2.38% | 2,369,703 | $25.1M | Reduce -9.3% |
| ATSG Air Transport Services Group | 2.33% | 1,819,350 | $24.6M | Reduce -9.3% |
| ULCC Frontier Group Holdings Inc. | 2.29% | 4,414,186 | $24.1M | Reduce -9.3% |
| TXT Textron Inc. | 2.18% | 262,913 | $23.0M | Reduce -9.3% |
| BA The Boeing Co. | 1.97% | 116,917 | $20.8M | Reduce -9.2% |
| EXPE Expedia Group Inc. | 1.87% | 174,808 | $19.7M | Reduce -9.3% |
| TRIP Tripadvisor Inc. | 1.53% | 880,195 | $16.2M | Reduce -9.3% |
| TCOM Trip.com Group Ltd.-ADR | 1.34% | 274,383 | $14.1M | Reduce -9.3% |
| WPM Wheaton Precious Metals Corp. | 1.19% | 229,227 | $12.5M | Add +9.5% |
| RGLD Royal Gold Inc. | 1.05% | 86,570 | $11.1M | Reduce -0.3% |
| FNV Franco-Nevada Corp. | 1.01% | 86,484 | $10.6M | Reduce -3.0% |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.98% | 85,361 | $10.4M | Reduce -9.2% |
| EMBJ Embraer SA-Spon ADR | 0.73% | 277,789 | $7.7M | Reduce -9.3% |
| MMYT Makemytrip Ltd. | 0.70% | 98,221 | $7.4M | Reduce -9.2% |
| OR Osisko Gold Royalties Ltd. | 0.68% | 434,432 | $7.1M | Add +19.3% |
| FSM Fortuna Mining Corp. | 0.66% | 1,127,718 | $7.0M | Reduce -12.9% |
| CGAU Centerra Gold Inc. | 0.66% | 1,009,583 | $6.9M | Add +3.2% |
| ASR Grupo Aeroportuario Sur-ADR | 0.65% | 20,493 | $6.9M | Reduce -9.1% |
| NGD New Gold Inc. | 0.59% | 2,993,831 | $6.3M | Add +3.3% |
| CPA Copa Holdings SA Class A | 0.55% | 59,296 | $5.8M | Reduce -9.2% |
| SILV Silvercrest Metals Inc. | 0.49% | 577,698 | $5.2M | Reduce -15.1% |
| HMY Harmony Gold MNG-Spon ADR | 0.49% | 562,701 | $5.1M | Reduce -25.4% |
| VOXR Vox Royalty Corp. | 0.45% | 1,700,000 | $4.7M | No change |
| AZUL S A | 0.41% | 793,558 | $4.3M | Reduce -9.3% |
| TFPM Triple Flag Precious Met | 0.40% | 253,405 | $4.2M | Reduce -19.7% |
| SAND Sandstorm Gold Ltd. | 0.40% | 733,800 | $4.2M | Reduce -19.8% |
| EGO Eldorado Gold Corp. | 0.39% | 261,668 | $4.2M | Add +27.0% |
| AGI Alamos Gold Inc. Class A | 0.37% | 250,000 | $3.9M | Add +25.0% |
| SBSW Sibanye-Stillwater Ltd.-ADR | 0.31% | 637,006 | $3.2M | Add +3.3% |
| EQX Equinox Gold Corp. | 0.27% | 550,000 | $2.9M | Add +175.0% |
| EMX Emx Royalty Corp. filed as EMX RTY CORP | 0.23% | 1,250,000 | $2.4M | No change |
| AMZN Amazon.com Inc. | 0.22% | 11,980 | $2.3M | Add +117.8% |
| KKR KKR & Co. Inc. | 0.20% | 20,450 | $2.2M | Add +68.3% |
| UBS UBS Group AG-Reg | 0.19% | 68,000 | $2.0M | No change |
| STZ Constellation Brands Inc. Class A | 0.17% | 6,940 | $1.8M | No change |
| APO Apollo Global Management Inc. | 0.17% | 15,000 | $1.8M | Add +11.1% |
| VZLA Vizsla Silver Corp. | 0.16% | 913,000 | $1.7M | Reduce -9.9% |
| LULU Lululemon Athletica Inc. | 0.16% | 5,550 | $1.7M | Add +50.0% |
| AU Anglogold Ashanti PLC | 0.15% | 65,000 | $1.6M | No change |
| BX Blackstone Inc. | 0.14% | 12,300 | $1.5M | New |
| AEM Agnico Eagle Mines Ltd. | 0.14% | 22,500 | $1.5M | Reduce -50.0% |
| LNG Cheniere Energy Inc. | 0.12% | 7,500 | $1.3M | No change |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.12% | 301,660 | $1.3M | Add +20.7% |
| CDE Coeur Mining Inc. | 0.12% | 225,000 | $1.3M | Add +50.0% |
| GS Goldman Sachs Group Inc. | 0.12% | 2,700 | $1.2M | New |
| KGC Kinross Gold Corp. | 0.11% | 145,000 | $1.2M | Add +45.0% |
| CCL Carnival Corp. | 0.11% | 63,200 | $1.2M | Add +5.0% |
| NCLH Norwegian Cruise Line Holdin | 0.11% | 59,000 | $1.1M | New |
| HL Hecla Mining Co. | 0.09% | 200,000 | $970K | New |
| DECK Deckers Outdoor Corp. | 0.09% | 995 | $963K | Add +1.5% |
| GATO Gatos Silver Inc. | 0.09% | 90,000 | $940K | New |
| IAG Iamgold Corp. | 0.09% | 250,000 | $938K | No change |
| KRP Kimbell Royalty Partners LP | 0.09% | 55,000 | $900K | No change |
| LIN Linde PLC | 0.08% | 2,000 | $878K | No change |
| SVM Silvercorp Metals Inc. | 0.08% | 250,000 | $840K | Reduce -78.6% |
| RACE Ferrari NV | 0.07% | 1,850 | $755K | Reduce -67.3% |
| VNOM Viper Energy Inc. | 0.07% | 20,000 | $751K | No change |
| EU Encore Energy Corp. | 0.07% | 150,000 | $722K | No change |
| B Barrick Gold Corp. | 0.06% | 40,000 | $667K | New |
| OXY Occidental Petroleum Corp. | 0.06% | 10,000 | $630K | No change |
| PAAS Pan American Silver Corp. | 0.06% | 30,000 | $596K | New |
| WTTR Select Water Solutions Inc. | 0.05% | 50,000 | $535K | No change |
| JPM JPMorgan Chase & Co. | 0.05% | 2,600 | $526K | Reduce -61.8% |
| RL Ralph Lauren Corp. | 0.05% | 3,000 | $525K | New |
| MPC Marathon Petroleum Corp. | 0.05% | 3,000 | $520K | No change |
| MRO Marathon Oil Corp. | 0.05% | 17,500 | $502K | No change |
| CCJ Cameco Corp. | 0.05% | 10,000 | $492K | No change |
| AXP American Express Co. | 0.05% | 2,100 | $486K | New |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.05% | 15,000 | $486K | New |
| MEOH Methanex Corp. | 0.05% | 9,000 | $483K | Add +125.0% |
| BG Bunge Global SA | 0.05% | 4,500 | $480K | New |
| SLVM Sylvamo Corp. | 0.05% | 7,000 | $480K | No change |
| SA Seabridge Gold Inc. | 0.05% | 35,000 | $479K | Add +133.3% |
| RCL Royal Caribbean Cruises Ltd. | 0.05% | 3,000 | $478K | Reduce -66.3% |
| BTG B2GOLD Corp. | 0.04% | 175,000 | $473K | New |
| WYNN WYNN Resorts Ltd. | 0.04% | 5,200 | $465K | New |
| INGR Ingredion Inc. | 0.04% | 4,000 | $459K | New |
| DNN Denison Mines Corp. | 0.04% | 230,000 | $458K | No change |
| NKE Nike Inc. Class B | 0.04% | 5,000 | $377K | New |
| GOLD RESOURCE CORP | 0.04% | 1,000,000 | $374K | No change |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.04% | 5,000 | $371K | No change |
| BP BP PLC-Spons ADR | 0.03% | 10,000 | $361K | New |
| HAL Halliburton Co. | 0.03% | 10,000 | $338K | No change |
| RRC Range Resources Corp. | 0.03% | 10,000 | $335K | No change |
| SKE Skeena Resources Ltd. | 0.03% | 75,000 | $332K | No change |
| TNK Teekay Tankers Ltd. Class A | 0.03% | 4,411 | $321K | Add +0.6% |
| EOG EOG Resources Inc. | 0.03% | 2,500 | $315K | New |
| IE Ivanhoe Electric Inc. / US | 0.03% | 30,596 | $302K | No change |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.03% | 6,000 | $283K | No change |
| PROSHARES ULTRASHORT GOLD | 0.03% | 13,000 | $282K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| AAL American Airlines Group Inc. | Reduce -9.3% | 9.36% | −2.59 |
| ULCC Frontier Group Holdings Inc. | Reduce -9.3% | 2.29% | −0.96 |
| ALGT Allegiant Travel Co. | Reduce -9.3% | 2.46% | −0.87 |
| SNCY Sun Country Airlines Holding | Reduce -9.3% | 2.38% | −0.86 |
| JBLU Jetblue Airways Corp. | Reduce -9.3% | 2.73% | −0.74 |
| TRIP Tripadvisor Inc. | Reduce -9.3% | 1.53% | −0.69 |
| LUV Southwest Airlines Co. | Reduce -9.3% | 9.32% | −0.38 |
| EXPE Expedia Group Inc. | Reduce -9.3% | 1.87% | −0.31 |
| SVM Silvercorp Metals Inc. | Reduce -78.6% | 0.08% | −0.23 |
| AAPL Apple Inc. | Sold out | 0.00% | −0.16 |
| AZUL S A | Reduce -9.3% | 0.41% | −0.15 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -9.2% | 0.98% | −0.14 |
| RACE Ferrari NV | Reduce -67.3% | 0.07% | −0.13 |
| TXT Textron Inc. | Reduce -9.3% | 2.18% | −0.10 |
| AEM Agnico Eagle Mines Ltd. | Reduce -50.0% | 0.14% | −0.08 |
| LVS Las Vegas Sands Corp. | Sold out | 0.00% | −0.08 |
| COTY Coty Inc. Class A | Sold out | 0.00% | −0.08 |
| MAR Marriott International Class A | Sold out | 0.00% | −0.08 |
| BA The Boeing Co. | Reduce -9.2% | 1.97% | −0.08 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -61.8% | 0.05% | −0.06 |
| TOL Toll Brothers Inc. | Sold out | 0.00% | −0.06 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -66.3% | 0.05% | −0.06 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −0.04 |
| CLF Cleveland-Cliffs Inc. | Sold out | 0.00% | −0.04 |
| SSRM SSR Mining Inc. | Sold out | 0.00% | −0.04 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −0.04 |
| UUP Invesco DB US Dollar Index B | Sold out | 0.00% | −0.03 |
| BTU Peabody Energy Corp. | Sold out | 0.00% | −0.03 |
| AY Atlantica Sustainable Infras | Sold out | 0.00% | −0.03 |
| PAVE Global X US Infrastructure | Sold out | 0.00% | −0.02 |
| HMY Harmony Gold MNG-Spon ADR | Reduce -25.4% | 0.49% | −0.02 |
| MOO Vaneck Agribusiness ETF | Sold out | 0.00% | −0.02 |
| CGW Invesco S&P Global Water Ind | Sold out | 0.00% | −0.02 |
| GLD SPDR Gold Shares | Sold out | 0.00% | −0.02 |
| USO United States Oil Fund LP | Sold out | 0.00% | −0.01 |
| CPA Copa Holdings SA Class A | Reduce -9.2% | 0.55% | −0.01 |
| ONON On Holding AG Class A | Sold out | 0.00% | −0.01 |
| DBA Invesco DB Agriculture Fund | Sold out | 0.00% | −0.01 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.01 |
| UGA United States Gas Fund LP | Sold out | 0.00% | −0.01 |
| COPX Global X Copper Miners ETF | Sold out | 0.00% | −0.01 |
| DBB Invesco DB Base Metals Fund | Sold out | 0.00% | −0.01 |
| IEZ iShares U.S. Oil Equipment & | Sold out | 0.00% | −0.01 |
| XOP SS SPDR S&P Og Exp & Prod | Sold out | 0.00% | −0.01 |
| IYE iShares U.S. Energy ETF | Sold out | 0.00% | −0.01 |
| TEUCRIUM WHEAT FUND | Sold out | 0.00% | −0.01 |
| URA Global X Uranium ETF | Sold out | 0.00% | −0.01 |
| GBTC Grayscale Bitcoin Trust ETF | Sold out | 0.00% | −0.01 |
| KRBN KS Global Carbon Stratgy ETF | Sold out | 0.00% | −0.00 |
Portfolio Buys Q1 2024 → Q2 2024
| WPM Wheaton Precious Metals Corp. | Add +9.5% | 1.19% | +0.38 |
| NGD New Gold Inc. | Add +3.3% | 0.59% | +0.19 |
| OR Osisko Gold Royalties Ltd. | Add +19.3% | 0.68% | +0.18 |
| CGAU Centerra Gold Inc. | Add +3.2% | 0.66% | +0.18 |
| EQX Equinox Gold Corp. | Add +175.0% | 0.27% | +0.17 |
| EGO Eldorado Gold Corp. | Add +27.0% | 0.39% | +0.16 |
| BX Blackstone Inc. | New | 0.14% | +0.14 |
| AMZN Amazon.com Inc. | Add +117.8% | 0.22% | +0.14 |
| AGI Alamos Gold Inc. Class A | Add +25.0% | 0.37% | +0.13 |
| GS Goldman Sachs Group Inc. | New | 0.12% | +0.12 |
| NCLH Norwegian Cruise Line Holdin | New | 0.11% | +0.11 |
| KKR KKR & Co. Inc. | Add +68.3% | 0.20% | +0.10 |
| HL Hecla Mining Co. | New | 0.09% | +0.09 |
| GATO Gatos Silver Inc. | New | 0.09% | +0.09 |
| CDE Coeur Mining Inc. | Add +50.0% | 0.12% | +0.07 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Add +3.3% | 0.31% | +0.07 |
| KGC Kinross Gold Corp. | Add +45.0% | 0.11% | +0.06 |
| B Barrick Gold Corp. | New | 0.06% | +0.06 |
| PAAS Pan American Silver Corp. | New | 0.06% | +0.06 |
| RL Ralph Lauren Corp. | New | 0.05% | +0.05 |
| AXP American Express Co. | New | 0.05% | +0.05 |
| GOLD Gold.com Inc. | New | 0.05% | +0.05 |
| BG Bunge Global SA | New | 0.05% | +0.05 |
| BTG B2GOLD Corp. | New | 0.04% | +0.04 |
| WYNN WYNN Resorts Ltd. | New | 0.04% | +0.04 |
| ORLA Orla Mining Ltd. | Add +20.7% | 0.12% | +0.04 |
| INGR Ingredion Inc. | New | 0.04% | +0.04 |
| APO Apollo Global Management Inc. | Add +11.1% | 0.17% | +0.04 |
| LULU Lululemon Athletica Inc. | Add +50.0% | 0.16% | +0.04 |
| NKE Nike Inc. Class B | New | 0.04% | +0.04 |
| BP BP PLC-Spons ADR | New | 0.03% | +0.03 |
| CCL Carnival Corp. | Add +5.0% | 0.11% | +0.03 |
| MEOH Methanex Corp. | Add +125.0% | 0.05% | +0.03 |
| EOG EOG Resources Inc. | New | 0.03% | +0.03 |
| SA Seabridge Gold Inc. | Add +133.3% | 0.05% | +0.03 |
| TTE Totalenergies SE -Spon ADR | New | 0.03% | +0.03 |
| XPL Solitario Resources Corp. | New | 0.03% | +0.03 |
| CNQ Canadian Natural Resources | New | 0.02% | +0.02 |
| DECK Deckers Outdoor Corp. | Add +1.5% | 0.09% | +0.02 |
| TNK Teekay Tankers Ltd. Class A | Add +0.6% | 0.03% | +0.01 |
| TRMD Torm PLC-A | Add +0.8% | 0.03% | +0.00 |
| ZTO Zto Express Cayman Inc.-ADR | Add +1.9% | 0.02% | +0.00 |
| INSW International Seaways Inc. | Add +1.5% | 0.01% | +0.00 |
| DIREXION DAILY S&P OIL & GAS | New | 0.00% | +0.00 |
| STNG Scorpio Tankers Inc. | Add +1.4% | 0.01% | +0.00 |
| SFL SFL Corp. Ltd. | Add +1.7% | 0.01% | +0.00 |
| EXPD Expeditors Intl Wash Inc. | Add +2.2% | 0.02% | +0.00 |
| GXO Gxo Logistics Inc. | Add +1.8% | 0.02% | +0.00 |
| FDX FedEx Corp. | Add +1.3% | 0.02% | +0.00 |
Options Activity Q1 2024 → Q2 2024
| TSLA Tesla Inc. | call | Sold out | 50 | $21Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 127 | $1.0B | AAL, UAL, LUV, DAL, ALGT |
| Q1 2026 | 135 | $857.6M | DAL, UAL, AAL, LUV, JBLU |
| Q4 2025 | 129 | $934.0M | UAL, LUV, AAL, DAL, ALGT |
| Q3 2025 | 133 | $882.3M | LUV, DAL, UAL, AAL, OR |
| Q2 2025 | 135 | $849.1M | UAL, DAL, AAL, LUV, SKYW |
| Q1 2025 | 136 | $756.6M | LUV, DAL, AAL, UAL, SKYW |
| Q4 2024 | 125 | $1.0B | UAL, LUV, AAL, DAL, ULCC |
| Q3 2024 | 130 | $1.0B | UAL, DAL, AAL, LUV, ALGT |
| Q2 2024 | 127 | $1.1B | DAL, UAL, AAL, LUV, ALK |
| Q1 2024 | 143 | $1.2B | DAL, UAL, AAL, LUV, ALK |