U S Global Investors Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 21, 2024), U S Global Investors Inc. reported 130 stock positions worth $1.0 billion. Its top holding was United Airlines (UAL) at 11.3% of the portfolio, followed by Delta Air Lines (DAL, 11.2%) and American Airlines (AAL, 9.8%). Compared with Q2 2024, it opened 31 new positions, sold out of 28, added to 34 and reduced 40. The biggest buy was a new position in Spirit Airlines (SAVEQ) and the biggest sale Delta Air Lines (DAL, shares −24%).
- Most Recent 13F
- Q2 2026
- Location
- SAN ANTONIO, TX
- CIK
- 0000754811
- Portfolio Value
- $1.0B (Q3 2024)
- SEC Filing
- 0001437749-24-031620 ↗ filed Oct 21, 2024
Holdings Value
Holdings 130 stocks · $1.0B
| UAL United Airlines Holdings Inc. | 11.30% | 2,055,866 | $117.3M | Reduce -28.6% |
| DAL Delta Air Lines Inc. | 11.21% | 2,290,902 | $116.4M | Reduce -24.0% |
| AAL American Airlines Group Inc. | 9.84% | 9,088,188 | $102.2M | Add +5.9% |
| LUV Southwest Airlines Co. | 9.71% | 3,400,904 | $100.8M | Reduce -7.2% |
| ALGT Allegiant Travel Co. | 3.93% | 741,429 | $40.8M | Add +51.9% |
| ULCC Frontier Group Holdings Inc. | 3.90% | 7,564,954 | $40.5M | Add +71.4% |
| ALK Alaska Air Group Inc. | 3.30% | 756,806 | $34.2M | Reduce -19.8% |
| SKYW Skywest Inc. | 3.28% | 401,058 | $34.1M | Reduce -24.1% |
| JBLU Jetblue Airways Corp. | 3.26% | 5,153,749 | $33.8M | Add +0.1% |
| SNCY Sun Country Airlines Holding filed as SUN CTRY AIRLS HLDGS INC | 2.92% | 2,705,789 | $30.3M | Add +14.2% |
| SAVEQ Spirit Airlines Inc. | 2.78% | 12,006,873 | $28.8M | New |
| EXPE Expedia Group Inc. | 2.17% | 152,445 | $22.6M | Reduce -12.8% |
| BKNG Booking Holdings Inc. | 2.12% | 5,218 | $22.0M | Reduce -25.1% |
| TRIP Tripadvisor Inc. | 2.11% | 1,512,548 | $21.9M | Add +71.8% |
| ATSG Air Transport Services Group | 2.11% | 1,350,897 | $21.9M | Reduce -25.8% |
| TXT Textron Inc. | 1.98% | 231,743 | $20.5M | Reduce -11.9% |
| GD General Dynamics Corp. | 1.95% | 66,997 | $20.2M | Reduce -21.9% |
| BA The Boeing Co. | 1.81% | 123,802 | $18.8M | Add +5.9% |
| TCOM Trip.com Group Ltd.-ADR | 1.22% | 213,866 | $12.7M | Reduce -22.1% |
| RGLD Royal Gold Inc. | 1.12% | 83,078 | $11.7M | Reduce -4.0% |
| WPM Wheaton Precious Metals Corp. | 1.11% | 189,227 | $11.6M | Reduce -17.4% |
| FNV Franco-Nevada Corp. | 1.10% | 91,692 | $11.4M | Add +6.0% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.02% | 235,415 | $10.6M | Add +175.8% |
| MMYT Makemytrip Ltd. | 0.94% | 105,335 | $9.8M | Add +7.2% |
| OR Osisko Gold Royalties Ltd. | 0.78% | 437,796 | $8.1M | Add +0.8% |
| NGD New Gold Inc. | 0.70% | 2,513,026 | $7.2M | Reduce -16.1% |
| AGI Alamos Gold Inc. Class A | 0.61% | 318,500 | $6.4M | Add +27.4% |
| HMY Harmony Gold MNG-Spon ADR | 0.53% | 544,254 | $5.5M | Reduce -3.3% |
| CPA Copa Holdings SA Class A | 0.51% | 56,968 | $5.3M | Reduce -3.9% |
| ASR Grupo Aeroportuario Sur-ADR | 0.49% | 18,124 | $5.1M | Reduce -11.6% |
| KGC Kinross Gold Corp. | 0.48% | 537,868 | $5.0M | Add +270.9% |
| EMBJ Embraer SA-Spon ADR | 0.48% | 139,771 | $4.9M | Reduce -49.7% |
| VOXR Vox Royalty Corp. | 0.47% | 1,600,000 | $4.8M | Reduce -5.9% |
| EGO Eldorado Gold Corp. | 0.46% | 277,019 | $4.8M | Add +5.9% |
| IAG Iamgold Corp. | 0.43% | 854,114 | $4.5M | Add +241.7% |
| SAND Sandstorm Gold Ltd. | 0.40% | 692,993 | $4.2M | Reduce -5.6% |
| CDE Coeur Mining Inc. | 0.39% | 586,000 | $4.0M | Add +160.4% |
| TFPM Triple Flag Precious Met | 0.38% | 244,884 | $4.0M | Reduce -3.4% |
| SILV Silvercrest Metals Inc. | 0.34% | 378,704 | $3.5M | Reduce -34.5% |
| FSM Fortuna Mining Corp. | 0.31% | 686,087 | $3.2M | Reduce -39.2% |
| NEM Newmont Corp. | 0.26% | 50,000 | $2.7M | New |
| AU Anglogold Ashanti PLC | 0.26% | 100,000 | $2.7M | Add +53.9% |
| TSLA Tesla Inc. | 0.24% | 9,370 | $2.5M | New |
| DRD Drdgold Ltd.-Sponsored ADR | 0.23% | 247,744 | $2.4M | New |
| RACE Ferrari NV | 0.22% | 4,850 | $2.3M | Add +162.2% |
| AEM Agnico Eagle Mines Ltd. | 0.21% | 27,500 | $2.2M | Add +22.2% |
| VZLA Vizsla Silver Corp. | 0.20% | 1,075,000 | $2.1M | Add +17.7% |
| HLT Hilton Worldwide Holdings Inc. | 0.19% | 8,700 | $2.0M | New |
| EMX Emx Royalty Corp. filed as EMX RTY CORP | 0.17% | 1,000,000 | $1.8M | Reduce -20.0% |
| B Barrick Gold Corp. | 0.16% | 83,200 | $1.7M | Add +108.0% |
| RCL Royal Caribbean Cruises Ltd. | 0.16% | 9,200 | $1.6M | Add +206.7% |
| AMZN Amazon.com Inc. | 0.14% | 7,980 | $1.5M | Reduce -33.4% |
| GS Goldman Sachs Group Inc. | 0.14% | 2,970 | $1.5M | Add +10.0% |
| EXK Endeavour Silver Corp. | 0.13% | 350,000 | $1.4M | New |
| LNG Cheniere Energy Inc. | 0.13% | 7,500 | $1.3M | No change |
| HL Hecla Mining Co. | 0.13% | 200,000 | $1.3M | No change |
| LULU Lululemon Athletica Inc. | 0.12% | 4,750 | $1.3M | Reduce -14.4% |
| VIK Viking Holdings Ltd. | 0.11% | 33,500 | $1.2M | New |
| KKR KKR & Co. Inc. | 0.11% | 8,950 | $1.2M | Reduce -56.2% |
| SVM Silvercorp Metals Inc. | 0.11% | 250,000 | $1.1M | No change |
| CCL Carnival Corp. | 0.10% | 58,700 | $1.1M | Reduce -7.1% |
| PAAS Pan American Silver Corp. | 0.10% | 50,000 | $1.0M | Add +66.7% |
| STZ Constellation Brands Inc. Class A | 0.10% | 3,940 | $1.0M | Reduce -43.2% |
| LIN Linde PLC | 0.09% | 2,000 | $954K | No change |
| AXP American Express Co. | 0.09% | 3,500 | $949K | Add +66.7% |
| APO Apollo Global Management Inc. | 0.09% | 7,100 | $887K | Reduce -52.7% |
| NTRS Northern Trust Corp. | 0.08% | 9,400 | $846K | New |
| VNOM Viper Energy Inc. | 0.07% | 15,000 | $677K | Reduce -25.0% |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.06% | 15,000 | $662K | No change |
| SHEL Shell PLC-ADR | 0.06% | 10,000 | $660K | New |
| SLVM Sylvamo Corp. | 0.06% | 7,000 | $601K | No change |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.06% | 6,000 | $598K | Add +500.0% |
| SA Seabridge Gold Inc. | 0.06% | 35,000 | $588K | No change |
| INGR Ingredion Inc. | 0.05% | 4,000 | $550K | No change |
| WYNN WYNN Resorts Ltd. | 0.05% | 5,200 | $499K | No change |
| KRP Kimbell Royalty Partners LP | 0.05% | 30,000 | $483K | Reduce -45.5% |
| MRO Marathon Oil Corp. | 0.04% | 17,500 | $466K | No change |
| HBM Hudbay Minerals Inc. | 0.04% | 50,000 | $460K | New |
| WTTR Select Water Solutions Inc. | 0.04% | 40,000 | $445K | Reduce -20.0% |
| TECK Teck Resources Ltd.-CLS B | 0.04% | 8,500 | $444K | New |
| BG Bunge Global SA | 0.04% | 4,500 | $435K | No change |
| LVS Las Vegas Sands Corp. | 0.04% | 8,600 | $433K | New |
| AR Antero Resources Corp. | 0.04% | 15,000 | $430K | New |
| FMC FMC Corp. | 0.04% | 6,500 | $429K | New |
| IMO Imperial Oil Ltd. | 0.04% | 6,000 | $423K | New |
| XOM Exxon Mobil Corp. | 0.04% | 3,500 | $410K | New |
| EU Encore Energy Corp. | 0.04% | 100,000 | $410K | Reduce -33.3% |
| CNL Collective Mining Ltd. | 0.04% | 125,000 | $401K | New |
| ADM Archer-Daniels-Midland Co. | 0.04% | 6,500 | $388K | New |
| MEOH Methanex Corp. | 0.04% | 9,000 | $372K | No change |
| BKR Baker Hughes Co. | 0.03% | 10,000 | $362K | New |
| STNG Scorpio Tankers Inc. | 0.03% | 4,877 | $348K | Add +172.6% |
| TRMD Torm PLC-A | 0.03% | 9,995 | $342K | Add +39.5% |
| WY Weyerhaeuser Co. | 0.03% | 10,000 | $339K | New |
| IE Ivanhoe Electric Inc. / US | 0.03% | 40,000 | $338K | Add +30.7% |
| BWLP BW LPG Ltd. | 0.03% | 23,651 | $337K | New |
| HAFN Hafnia Ltd. | 0.03% | 46,805 | $333K | New |
| BP BP PLC-Spons ADR | 0.03% | 10,000 | $314K | No change |
| EOG EOG Resources Inc. | 0.03% | 2,500 | $307K | No change |
| MAR Marriott International Class A | 0.03% | 1,200 | $298K | New |
Options reported separately and not counted above: B calls ($252K), NEM calls ($218K), RACE calls ($46K).
Portfolio Sells Q2 2024 → Q3 2024
| DAL Delta Air Lines Inc. | Reduce -24.0% | 11.21% | −3.37 |
| UAL United Airlines Holdings Inc. | Reduce -28.6% | 11.30% | −3.17 |
| CGAU Centerra Gold Inc. | Sold out | 0.00% | −0.66 |
| GD General Dynamics Corp. | Reduce -21.9% | 1.95% | −0.49 |
| ALK Alaska Air Group Inc. | Reduce -19.8% | 3.30% | −0.46 |
| SKYW Skywest Inc. | Reduce -24.1% | 3.28% | −0.46 |
| AZUL S A | Sold out | 0.00% | −0.41 |
| BKNG Booking Holdings Inc. | Reduce -25.1% | 2.12% | −0.38 |
| FSM Fortuna Mining Corp. | Reduce -39.2% | 0.31% | −0.36 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Sold out | 0.00% | −0.31 |
| EQX Equinox Gold Corp. | Sold out | 0.00% | −0.27 |
| EMBJ Embraer SA-Spon ADR | Reduce -49.7% | 0.48% | −0.26 |
| ATSG Air Transport Services Group | Reduce -25.8% | 2.11% | −0.22 |
| TXT Textron Inc. | Reduce -11.9% | 1.98% | −0.21 |
| UBS UBS Group AG-Reg | Sold out | 0.00% | −0.19 |
| ASR Grupo Aeroportuario Sur-ADR | Reduce -11.6% | 0.49% | −0.16 |
| SILV Silvercrest Metals Inc. | Reduce -34.5% | 0.34% | −0.15 |
| BX Blackstone Inc. | Sold out | 0.00% | −0.14 |
| ORLA Orla Mining Ltd. | Sold out | 0.00% | −0.12 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -22.1% | 1.22% | −0.12 |
| NCLH Norwegian Cruise Line Holdin | Sold out | 0.00% | −0.11 |
| KKR KKR & Co. Inc. | Reduce -56.2% | 0.11% | −0.09 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.09 |
| GATO Gatos Silver Inc. | Sold out | 0.00% | −0.09 |
| APO Apollo Global Management Inc. | Reduce -52.7% | 0.09% | −0.08 |
| AMZN Amazon.com Inc. | Reduce -33.4% | 0.14% | −0.08 |
| WPM Wheaton Precious Metals Corp. | Reduce -17.4% | 1.11% | −0.08 |
| STZ Constellation Brands Inc. Class A | Reduce -43.2% | 0.10% | −0.07 |
| EMX Emx Royalty Corp. | Reduce -20.0% | 0.17% | −0.06 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −0.06 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.05 |
| RL Ralph Lauren Corp. | Sold out | 0.00% | −0.05 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −0.05 |
| BTG B2GOLD Corp. | Sold out | 0.00% | −0.04 |
| KRP Kimbell Royalty Partners LP | Reduce -45.5% | 0.05% | −0.04 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.04 |
| GOLD RESOURCE CORP | Sold out | 0.00% | −0.04 |
| CF CF Industries Holdings Inc. | Sold out | 0.00% | −0.04 |
| LULU Lululemon Athletica Inc. | Reduce -14.4% | 0.12% | −0.03 |
| HAL Halliburton Co. | Sold out | 0.00% | −0.03 |
| CPA Copa Holdings SA Class A | Reduce -3.9% | 0.51% | −0.03 |
| EU Encore Energy Corp. | Reduce -33.3% | 0.04% | −0.03 |
| CCJ Cameco Corp. | Reduce -50.0% | 0.02% | −0.02 |
| DNN Denison Mines Corp. | Reduce -50.0% | 0.02% | −0.02 |
| IAUX I-80 Gold Corp. | Sold out | 0.00% | −0.02 |
| GXO Gxo Logistics Inc. | Sold out | 0.00% | −0.02 |
| NXE Nexgen Energy Ltd. | Sold out | 0.00% | −0.02 |
| SKE Skeena Resources Ltd. | Reduce -73.3% | 0.02% | −0.02 |
| TFPM Triple Flag Precious Met | Reduce -3.4% | 0.38% | −0.02 |
| CSIQ Canadian Solar Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| SAVEQ Spirit Airlines Inc. | New | 2.78% | +2.78 |
| ULCC Frontier Group Holdings Inc. | Add +71.4% | 3.90% | +1.61 |
| ALGT Allegiant Travel Co. | Add +51.9% | 3.93% | +1.47 |
| TRIP Tripadvisor Inc. | Add +71.8% | 2.11% | +0.58 |
| SNCY Sun Country Airlines Holding | Add +14.2% | 2.92% | +0.54 |
| JBLU Jetblue Airways Corp. | Add +0.1% | 3.26% | +0.53 |
| AAL American Airlines Group Inc. | Add +5.9% | 9.84% | +0.48 |
| KGC Kinross Gold Corp. | Add +270.9% | 0.48% | +0.37 |
| IAG Iamgold Corp. | Add +241.7% | 0.43% | +0.34 |
| CDE Coeur Mining Inc. | Add +160.4% | 0.39% | +0.27 |
| NEM Newmont Corp. | New | 0.26% | +0.26 |
| AGI Alamos Gold Inc. Class A | Add +27.4% | 0.61% | +0.24 |
| MMYT Makemytrip Ltd. | Add +7.2% | 0.94% | +0.24 |
| TSLA Tesla Inc. | New | 0.24% | +0.24 |
| DRD Drdgold Ltd.-Sponsored ADR | New | 0.23% | +0.23 |
| HLT Hilton Worldwide Holdings Inc. | New | 0.19% | +0.19 |
| RACE Ferrari NV | Add +162.2% | 0.22% | +0.15 |
| EXK Endeavour Silver Corp. | New | 0.13% | +0.13 |
| VIK Viking Holdings Ltd. | New | 0.11% | +0.11 |
| RCL Royal Caribbean Cruises Ltd. | Add +206.7% | 0.16% | +0.11 |
| OR Osisko Gold Royalties Ltd. | Add +0.8% | 0.78% | +0.10 |
| AU Anglogold Ashanti PLC | Add +53.9% | 0.26% | +0.10 |
| B Barrick Gold Corp. | Add +108.0% | 0.16% | +0.10 |
| FNV Franco-Nevada Corp. | Add +6.0% | 1.10% | +0.09 |
| NTRS Northern Trust Corp. | New | 0.08% | +0.08 |
| AEM Agnico Eagle Mines Ltd. | Add +22.2% | 0.21% | +0.07 |
| EGO Eldorado Gold Corp. | Add +5.9% | 0.46% | +0.07 |
| SHEL Shell PLC-ADR | New | 0.06% | +0.06 |
| EL Estee Lauder Companies Class A | Add +500.0% | 0.06% | +0.05 |
| AXP American Express Co. | Add +66.7% | 0.09% | +0.05 |
| HBM Hudbay Minerals Inc. | New | 0.04% | +0.04 |
| PAAS Pan American Silver Corp. | Add +66.7% | 0.10% | +0.04 |
| TECK Teck Resources Ltd.-CLS B | New | 0.04% | +0.04 |
| LVS Las Vegas Sands Corp. | New | 0.04% | +0.04 |
| AR Antero Resources Corp. | New | 0.04% | +0.04 |
| FMC FMC Corp. | New | 0.04% | +0.04 |
| IMO Imperial Oil Ltd. | New | 0.04% | +0.04 |
| VZLA Vizsla Silver Corp. | Add +17.7% | 0.20% | +0.04 |
| RYAAY Ryanair Holdings PLC-SP ADR | Add +175.8% | 1.02% | +0.04 |
| XOM Exxon Mobil Corp. | New | 0.04% | +0.04 |
| CNL Collective Mining Ltd. | New | 0.04% | +0.04 |
| ADM Archer-Daniels-Midland Co. | New | 0.04% | +0.04 |
| BKR Baker Hughes Co. | New | 0.03% | +0.03 |
| WY Weyerhaeuser Co. | New | 0.03% | +0.03 |
| BWLP BW LPG Ltd. | New | 0.03% | +0.03 |
| HAFN Hafnia Ltd. | New | 0.03% | +0.03 |
| MAR Marriott International Class A | New | 0.03% | +0.03 |
| DAC Danaos Corp. | New | 0.03% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +10.0% | 0.14% | +0.03 |
| FSLR First Solar Inc. | New | 0.02% | +0.02 |
Options Activity Q2 2024 → Q3 2024
| B Barrick Gold Corp. | call | New | 1,700 | $252K |
| NEM Newmont Corp. | call | New | 650 | $218K |
| RACE Ferrari NV | call | New | 25 | $46K |
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 |