U S Global Investors Inc.

Name: U S GLOBAL INVESTORS INC 13F holdings, Q2 2026
Creator: U S GLOBAL INVESTORS INC
Published: 2026-07-27

Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 27, 2026), U S Global Investors Inc. reported 127 stock positions worth $1.0 billion. Its top holding was American Airlines (AAL) at 10.4% of the portfolio, followed by United Airlines (UAL, 10.2%) and Southwest Airlines (LUV, 9.8%). Compared with Q1 2026, it opened 11 new positions, sold out of 19, added to 44 and reduced 38. The biggest buy was Southwest Airlines (LUV, shares +19%) and the biggest sale Royal Gold (RGLD, shares −98%).

Most Recent 13F: Q2 2026
Location: SAN ANTONIO, TX
CIK: 0000754811
Portfolio Value: $1.0B (Q2 2026)
SEC Filing: 0001437749-26-024513 ↗ filed Jul 27, 2026

Holdings Value

Holdings 127 stocks · $1.0B


AAL American Airlines Group Inc.	10.43%	6,001,172	$108.4M	Reduce -6.7%
UAL United Airlines Holdings Inc.	10.21%	780,724	$106.2M	Reduce -0.5%
LUV Southwest Airlines Co.	9.82%	1,985,637	$102.1M	Add +19.0%
DAL Delta Air Lines Inc.	9.68%	1,075,013	$100.7M	Reduce -8.3%
ALGT Allegiant Travel Co.	3.93%	347,245	$40.8M	Add +16.1%
ULCC Frontier Group Holdings Inc.	3.74%	4,914,655	$38.9M	Reduce -27.5%
JBLU Jetblue Airways Corp.	3.30%	5,996,231	$34.4M	Add +8.2%
ALK Alaska Air Group Inc.	3.21%	639,713	$33.4M	Add +7.2%
SKYW Skywest Inc.	3.18%	333,087	$33.1M	Add +29.3%
AYA Aya Gold & Silver Inc.	2.04%	1,125,000	$21.3M	New
SABR Sabre Corp.	1.99%	9,885,943	$20.7M	Add +31.2%
TRIP Tripadvisor Inc.	1.84%	1,393,974	$19.1M	Add +1.5%
EXPE Expedia Group Inc.	1.82%	73,940	$18.9M	Add +32.0%
OR Or Royalties Inc.	1.77%	580,723	$18.4M	Add +8.6%
BKNG Booking Holdings Inc.	1.74%	101,546	$18.1M	Add +35.0%
FNV Franco-Nevada Corp.	1.62%	80,622	$16.8M	Reduce -4.5%
GD General Dynamics Corp.	1.58%	46,295	$16.4M	Add +28.3%
TXT Textron Inc.	1.56%	177,167	$16.3M	Add +26.6%
BA The Boeing Co.	1.56%	74,907	$16.2M	Add +19.7%
WPM Wheaton Precious Metals Corp.	1.51%	139,426	$15.7M	Add +379.7%
IAG Iamgold Corp.	1.34%	878,486	$13.9M	Reduce -9.6%
USAS Americas Gold and Silver Cor	1.19%	2,625,000	$12.4M	Add +45.8%
LTM Latam Airlines Group SA-ADR	0.90%	161,198	$9.4M	Add +18.4%
RYAAY Ryanair Holdings PLC-SP ADR	0.87%	139,753	$9.0M	Add +34.1%
EXK Endeavour Silver Corp.	0.83%	1,043,200	$8.6M	Add +253.4%
PAAS Pan American Silver Corp.	0.76%	176,555	$7.9M	Add +140.0%
VOXR Vox Royalty Corp.	0.76%	1,662,000	$7.9M	No change
CDE Coeur Mining Inc.	0.69%	439,303	$7.2M	Reduce -47.1%
TCOM Trip.com Group Ltd.-ADR	0.67%	175,270	$7.0M	Add +42.1%
HMY Harmony Gold MNG-Spon ADR	0.63%	428,647	$6.5M	Add +7.7%
FSM Fortuna Mining Corp.	0.60%	743,591	$6.3M	Add +93.8%
B Barrick Mining Corp.	0.60%	170,000	$6.2M	Add +19.0%
ARIS Aris Mining Corp.	0.57%	400,000	$6.0M	Add +17.6%
MMYT Makemytrip Ltd.	0.51%	99,379	$5.3M	Reduce -29.4%
TFPM Triple Flag Precious Met	0.50%	172,000	$5.2M	Add +186.7%
CGAU Centerra Gold Inc.	0.46%	300,000	$4.7M	Reduce -31.6%
OMAB Grupo Aeroportuario Cen-ADR	0.46%	41,857	$4.7M	Add +38.8%
EMBJ Embraer SA-Spon ADR	0.45%	73,982	$4.7M	Reduce -34.5%
AEM Agnico Eagle Mines Ltd.	0.45%	30,000	$4.7M	Reduce -49.3%
NEM Newmont Corp.	0.45%	49,739	$4.6M	Add +35.0%
CPA Copa Holdings SA Class A	0.45%	29,833	$4.6M	Add +4.7%
ASR Grupo Aeroportuario Sur-ADR	0.43%	14,624	$4.5M	Add +46.4%
MTA Metalla Royalty & Streaming	0.41%	558,500	$4.3M	Reduce -3.5%
ASM Avino Silver & Gold Mines	0.37%	610,000	$3.9M	Add +510.0%
VZLA Vizsla Silver Corp.	0.33%	1,050,000	$3.4M	No change
AUGO Aura Minerals Inc.	0.30%	50,000	$3.1M	Reduce -50.0%
SSRM SSR Mining Inc.	0.30%	110,000	$3.1M	No change
AGI Alamos Gold Inc. Class A	0.29%	100,000	$3.0M	Reduce -50.3%
RACE Ferrari NV	0.28%	7,925	$3.0M	No change
TSLA Tesla Inc.	0.26%	6,450	$2.7M	Reduce -9.2%
RCL Royal Caribbean Cruises Ltd.	0.26%	8,530	$2.7M	No change
SVM Silvercorp Metals Inc.	0.24%	250,000	$2.5M	Reduce -59.5%
WDS Woodside Energy Group-ADR	0.23%	125,000	$2.4M	Add +66.7%
SBSW Sibanye-Stillwater Ltd.-ADR	0.22%	275,000	$2.3M	No change
SCZM Santacruz Silver Mining Ltd.	0.22%	350,000	$2.3M	Reduce -55.2%
VMET Versamet Royalties Corp.	0.21%	250,000	$2.1M	No change
VIK Viking Holdings Ltd.	0.19%	18,935	$2.0M	Add +53.5%
MUX McEwen Inc.	0.17%	100,000	$1.8M	No change
AMZN Amazon.com Inc.	0.17%	7,500	$1.8M	Reduce -21.1%
TTE Totalenergies SE	0.16%	22,000	$1.7M	No change
NTR Nutrien Ltd.	0.15%	25,000	$1.6M	Reduce -16.7%
HSLV Highlander Silver Corp.	0.15%	325,000	$1.5M	Add +16.1%
CCL Carnival Corp. Ltd.	0.14%	52,500	$1.5M	No change
LNG Cheniere Energy Inc.	0.14%	6,200	$1.5M	No change
SHEL Shell PLC-ADR	0.13%	18,000	$1.4M	No change
AXP American Express Co.	0.13%	3,930	$1.3M	New
HLT Hilton Worldwide Holdings Inc.	0.13%	3,950	$1.3M	Reduce -7.1%
LTH Life Time Group Holdings Inc.	0.12%	31,600	$1.3M	Reduce -23.1%
BMM Blue Moon Metals Inc.	0.12%	200,000	$1.3M	Add +100.0%
OGC Oceanagold Corp.	0.12%	50,000	$1.3M	New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC	0.12%	15,800	$1.2M	Add +21.5%
XOM Exxon Mobil Corp.	0.11%	8,500	$1.2M	Reduce -51.4%
HL Hecla Mining Co.	0.11%	75,000	$1.2M	No change
UBS UBS Group AG-Reg	0.11%	22,300	$1.1M	Reduce -19.8%
CAT Caterpillar Inc.	0.10%	1,000	$1.1M	No change
TOL Toll Brothers Inc.	0.10%	6,300	$1.0M	Add +16.7%
MAR Marriott International Class A	0.09%	2,550	$945K	Reduce -12.1%
DHT DHT Holdings Inc.	0.09%	54,236	$897K	Add +161.2%
INSW International Seaways Inc.	0.08%	11,130	$852K	New
GFI Gold Fields Ltd.-Spons ADR	0.08%	25,000	$840K	Reduce -92.1%
LVS Las Vegas Sands Corp.	0.08%	17,700	$818K	Add +45.1%
AU Anglogold Ashanti PLC	0.08%	10,000	$809K	Reduce -92.3%
ITRG Integra Resources Corp.	0.08%	350,000	$795K	Reduce -10.9%
BX Blackstone Inc.	0.07%	6,300	$741K	New
MAKO Mako Mining Corp. filed as MAKO MNG CORP	0.07%	100,000	$734K	No change
SSMR Sunshine Silver Mining & Ref	0.07%	55,000	$727K	New
GSL Global Ship Lease Inc. Class A	0.07%	18,766	$706K	Add +0.4%
STNG Scorpio Tankers Inc.	0.06%	9,480	$657K	New
PPTA Perpetua Resources Corp.	0.06%	30,000	$623K	No change
TK Teekay Corp. Ltd.	0.06%	61,009	$610K	Reduce -2.9%
OSISKO DEVELOPMENT CORP	0.06%	250,000	$607K	No change
TPR Tapestry Inc.	0.06%	4,045	$592K	No change
BWLP BW LPG Ltd.	0.06%	33,953	$591K	Reduce -31.7%
AAPL Apple Inc.	0.06%	2,000	$579K	New
ZTO Zto Express Cayman Inc.-ADR	0.05%	24,296	$544K	Add +8.8%
UPS United Parcel Service Class B	0.05%	5,034	$541K	Reduce -6.0%
EXPD Expeditors Intl Wash Inc.	0.05%	3,286	$536K	Reduce -10.8%
FDX FedEx Corp.	0.05%	1,618	$507K	Add +9.0%
IE Ivanhoe Electric Inc. / US	0.05%	51,499	$495K	Add +94.3%
CNL Collective Mining Ltd.	0.04%	35,000	$430K	No change
SIND Sinda Ltd.	0.04%	35,000	$420K	New
EFXT Enerflex Ltd.	0.04%	17,000	$417K	No change
MWH Solv Energy Inc. Class A	0.04%	12,000	$409K	No change
VLO Valero Energy Corp.	0.04%	1,500	$391K	Reduce -50.0%
RRC Range Resources Corp.	0.04%	10,500	$390K	No change
REAL The Realreal Inc. filed as THE REALREAL INC	0.04%	32,000	$377K	No change
AR Antero Resources Corp.	0.03%	10,000	$351K	No change
DAC Danaos Corp.	0.03%	2,804	$343K	Reduce -56.3%
HAL Halliburton Co.	0.03%	10,000	$340K	No change
HAFN Hafnia Ltd.	0.03%	50,084	$333K	Reduce -52.4%
ESEA Euroseas Ltd.	0.03%	5,000	$332K	New
TNK Teekay Tankers Ltd. Class A	0.03%	5,030	$326K	Reduce -6.6%
FRVO Fervo Energy Co. Class A	0.03%	10,000	$292K	New
BKR Baker Hughes Co.	0.03%	5,000	$278K	Reduce -41.2%
AEP American Electric Power	0.03%	2,000	$274K	No change
BP BP PLC-Spons ADR	0.02%	7,000	$259K	No change
CCJ Cameco Corp.	0.02%	2,500	$255K	Reduce -50.0%
RGLD Royal Gold Inc.	0.02%	1,255	$251K	Reduce -98.5%
MGM MGM Resorts International	0.02%	5,100	$244K	Add +104.0%
XPL Solitario Resources Corp.	0.02%	310,000	$233K	No change
PZG Paramount Gold Nevada Corp.	0.02%	200,000	$228K	Add +17.6%
SLB SLB Ltd. filed as SLB LIMITED	0.02%	4,500	$209K	No change
WTTR Select Water Solutions Inc.	0.02%	10,000	$200K	No change
STZ Constellation Brands Inc. Class A	0.01%	1,000	$139K	No change
CME Cme Group Inc.	0.01%	461	$102K	No change
CHIQ Global X MSCI China Consumer	0.01%	4,500	$71K	No change
MLCO Melco Resorts & Entert-ADR	0.01%	12,000	$63K	No change

Portfolio Sells Q1 2026 → Q2 2026


RGLD Royal Gold Inc.	Reduce -98.5%	0.02%	−2.39
GFI Gold Fields Ltd.-Spons ADR	Reduce -92.1%	0.08%	−1.59
AU Anglogold Ashanti PLC	Reduce -92.3%	0.08%	−1.40
CDE Coeur Mining Inc.	Reduce -47.1%	0.69%	−1.13
AEM Agnico Eagle Mines Ltd.	Reduce -49.3%	0.45%	−0.95
DRD Drdgold Ltd.-Sponsored ADR	Sold out	0.00%	−0.84
FNV Franco-Nevada Corp.	Reduce -4.5%	1.62%	−0.82
IAG Iamgold Corp.	Reduce -9.6%	1.34%	−0.79
AGI Alamos Gold Inc. Class A	Reduce -50.3%	0.29%	−0.75
KGC Kinross Gold Corp.	Sold out	0.00%	−0.70
AUGO Aura Minerals Inc.	Reduce -50.0%	0.30%	−0.65
SCZM Santacruz Silver Mining Ltd.	Reduce -55.2%	0.22%	−0.58
SVM Silvercorp Metals Inc.	Reduce -59.5%	0.24%	−0.53
ORLA Orla Mining Ltd.	Sold out	0.00%	−0.46
CGAU Centerra Gold Inc.	Reduce -31.6%	0.46%	−0.45
ELE Elemental Royalty Corp.	Sold out	0.00%	−0.33
EMBJ Embraer SA-Spon ADR	Reduce -34.5%	0.45%	−0.33
XOM Exxon Mobil Corp.	Reduce -51.4%	0.11%	−0.23
SA Seabridge Gold Inc.	Sold out	0.00%	−0.13
AG First Majestic Silver Corp.	Sold out	0.00%	−0.13
NTR Nutrien Ltd.	Reduce -16.7%	0.15%	−0.11
MMYT Makemytrip Ltd.	Reduce -29.4%	0.51%	−0.10
EXE Expand Energy Corp.	Sold out	0.00%	−0.10
EQT Eqt Corp.	Sold out	0.00%	−0.09
CTRA Coterra Energy Inc.	Sold out	0.00%	−0.08
HAFN Hafnia Ltd.	Reduce -52.4%	0.03%	−0.06
BG Bunge Global SA	Sold out	0.00%	−0.06
AMZN Amazon.com Inc.	Reduce -21.1%	0.17%	−0.06
DAC Danaos Corp.	Reduce -56.3%	0.03%	−0.05
VLO Valero Energy Corp.	Reduce -50.0%	0.04%	−0.05
ITRG Integra Resources Corp.	Reduce -10.9%	0.08%	−0.05
TSLA Tesla Inc.	Reduce -9.2%	0.26%	−0.05
TRMD Torm PLC-A	Sold out	0.00%	−0.05
BWLP BW LPG Ltd.	Reduce -31.7%	0.06%	−0.05
MATX Matson Inc.	Sold out	0.00%	−0.04
CCJ Cameco Corp.	Reduce -50.0%	0.02%	−0.04
MTA Metalla Royalty & Streaming	Reduce -3.5%	0.41%	−0.04
CNR Core Natural Resources Inc.	Sold out	0.00%	−0.04
HYMC Hycroft Mining Holding Co. Class A	Sold out	0.00%	−0.04
BKR Baker Hughes Co.	Reduce -41.2%	0.03%	−0.03
BTU Peabody Energy Corp.	Sold out	0.00%	−0.03
TK Teekay Corp. Ltd.	Reduce -2.9%	0.06%	−0.03
SLI Standard Lithium Ltd.	Sold out	0.00%	−0.03
HLT Hilton Worldwide Holdings Inc.	Reduce -7.1%	0.13%	−0.03
FURY Fury Gold Mines Ltd.	Sold out	0.00%	−0.03
UBS UBS Group AG-Reg	Reduce -19.8%	0.11%	−0.02
MAR Marriott International Class A	Reduce -12.1%	0.09%	−0.02
TNK Teekay Tankers Ltd. Class A	Reduce -6.6%	0.03%	−0.01
EU Encore Energy Corp.	Sold out	0.00%	−0.01
EXPD Expeditors Intl Wash Inc.	Reduce -10.8%	0.05%	−0.01

Portfolio Buys Q1 2026 → Q2 2026


LUV Southwest Airlines Co.	Add +19.0%	9.82%	+2.51
AYA Aya Gold & Silver Inc.	New	2.04%	+2.04
ALGT Allegiant Travel Co.	Add +16.1%	3.93%	+1.10
WPM Wheaton Precious Metals Corp.	Add +379.7%	1.51%	+1.06
SABR Sabre Corp.	Add +31.2%	1.99%	+0.71
ALK Alaska Air Group Inc.	Add +7.2%	3.21%	+0.65
EXK Endeavour Silver Corp.	Add +253.4%	0.83%	+0.51
JBLU Jetblue Airways Corp.	Add +8.2%	3.30%	+0.45
SKYW Skywest Inc.	Add +29.3%	3.18%	+0.42
EXPE Expedia Group Inc.	Add +32.0%	1.82%	+0.31
ASM Avino Silver & Gold Mines	Add +510.0%	0.37%	+0.30
PAAS Pan American Silver Corp.	Add +140.0%	0.76%	+0.29
BKNG Booking Holdings Inc.	Add +35.0%	1.74%	+0.26
TFPM Triple Flag Precious Met	Add +186.7%	0.50%	+0.25
RYAAY Ryanair Holdings PLC-SP ADR	Add +34.1%	0.87%	+0.17
FSM Fortuna Mining Corp.	Add +93.8%	0.60%	+0.16
TXT Textron Inc.	Add +26.6%	1.56%	+0.13
GD General Dynamics Corp.	Add +28.3%	1.58%	+0.13
TRIP Tripadvisor Inc.	Add +1.5%	1.84%	+0.13
AXP American Express Co.	New	0.13%	+0.13
OGC Oceanagold Corp.	New	0.12%	+0.12
LTM Latam Airlines Group SA-ADR	Add +18.4%	0.90%	+0.12
BA The Boeing Co.	Add +19.7%	1.56%	+0.11
USAS Americas Gold and Silver Cor	Add +45.8%	1.19%	+0.10
HSLV Highlander Silver Corp.	Add +16.1%	0.15%	+0.09
VIK Viking Holdings Ltd.	Add +53.5%	0.19%	+0.08
INSW International Seaways Inc.	New	0.08%	+0.08
BX Blackstone Inc.	New	0.07%	+0.07
SSMR Sunshine Silver Mining & Ref	New	0.07%	+0.07
CPA Copa Holdings SA Class A	Add +4.7%	0.45%	+0.07
STNG Scorpio Tankers Inc.	New	0.06%	+0.06
AAPL Apple Inc.	New	0.06%	+0.06
OMAB Grupo Aeroportuario Cen-ADR	Add +38.8%	0.46%	+0.05
BMM Blue Moon Metals Inc.	Add +100.0%	0.12%	+0.05
DHT DHT Holdings Inc.	Add +161.2%	0.09%	+0.04
SIND Sinda Ltd.	New	0.04%	+0.04
ASR Grupo Aeroportuario Sur-ADR	Add +46.4%	0.43%	+0.04
ESEA Euroseas Ltd.	New	0.03%	+0.03
FRVO Fervo Energy Co. Class A	New	0.03%	+0.03
WDS Woodside Energy Group-ADR	Add +66.7%	0.23%	+0.02
TOL Toll Brothers Inc.	Add +16.7%	0.10%	+0.01
MGM MGM Resorts International	Add +104.0%	0.02%	+0.01
EL Estee Lauder Companies Class A	Add +21.5%	0.12%	+0.01
IE Ivanhoe Electric Inc. / US	Add +94.3%	0.05%	+0.01
LVS Las Vegas Sands Corp.	Add +45.1%	0.08%	+0.00
PZG Paramount Gold Nevada Corp.	Add +17.6%	0.02%	−0.01
FDX FedEx Corp.	Add +9.0%	0.05%	−0.01
ZTO Zto Express Cayman Inc.-ADR	Add +8.8%	0.05%	−0.01
GSL Global Ship Lease Inc. Class A	Add +0.4%	0.07%	−0.01
NEM Newmont Corp.	Add +35.0%	0.45%	−0.02

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