SEC 13F Intelligence

Managers / Q2 2023 · view latest →

U S GLOBAL INVESTORS INC

CIK 0000754811 · 7900 CALLAGHAN RD, SAN ANTONIO, TX, 78229 · 2103081234

Reported Value
$1.7B
Q2 2023
Positions
140
Filings on Record
30
2019–present window
Filed
Jul 24, 2023
original filing

Summary

U S Global Investors Inc reported $1.7B in U.S.-listed holdings across 140 positions for Q2 2023.

Its largest position, DAL, represents 12.9% of the portfolio.

Compared with Q1 2023, the fund opened 23 new positions and exited 37.

Portfolio Metrics

Turnover
+9.0%
vs prior filed quarter
Top-10 Concentration
+70.4%
share of reported value
Largest Position
+12.9%
Delta Air Li
New / Exited
23 / 37
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $173MQ4 ’18Q1 ’19: $209MQ2 ’19: $194MQ3 ’19: $184MQ4 ’19: $223MQ4 ’19Q1 ’20: $374MQ2 ’20: $1.1BQ3 ’20: $1.4BQ4 ’20: $2.3BQ4 ’20Q1 ’21: $3.1BQ2 ’21: $3.0BQ3 ’21: $3.1BQ4 ’21: $2.7BQ4 ’21Q1 ’22: $3.0BQ2 ’22: $2.1BQ3 ’22: $1.6BQ4 ’22: $1.7BQ4 ’22Q1 ’23: $1.5BQ2 ’23: $1.7BQ3 ’23: $1.2BQ4 ’23: $1.5BQ4 ’23Q1 ’24: $1.2BQ2 ’24: $1.1BQ3 ’24: $1.0BQ4 ’24: $1.0BQ4 ’24Q1 ’25: $757MQ2 ’25: $850MQ3 ’25: $886MQ4 ’25: $934MQ4 ’25Q1 ’26: $858Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 94.0%ADR: 4.4%Other: 1.4%Royalty Trst: 0.1%REIT: 0.1%Other: 0.1%
  • Common Stock · 94.0% · $1.6B
  • ADR · 4.4% · $75M
  • Other · 1.4% · $23M
  • Royalty Trst · 0.1% · $1M
  • REIT · 0.1% · $999,500
  • Other · 0.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SKYWSKYWEST INCNEW+1.51M1.51M+$61M$61M
SNCYSUN COUNTRY HOLDNEW+2.64M2.64M+$59M$59M
ULCCFRONTIER GROUP HNEW+5.58M5.58M+$54M$54M
AIR TRANSPORT SENEW+1.92M1.92M+$36M$36M
EQXEQUINOX GOLD CORNEW+632.6K632.6K+$3M$3M
JPMJPMORGAN CHASE & CONEW+12.0K12.0K+$2M$2M
LVSLAS VEGAS SANDS CORPNEW+30.0K30.0K+$2M$2M
APOAPOLLO GLOBAL MGMT INCNEW+13.5K13.5K+$1M$1M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1DALDELTA AIR LIhistory →COM NEW12.89%$217M4.57M
2AALAMERICAN AIRLINEhistory →COM12.27%$207M11.53M
3LUVSOUTHWEST AIRhistory →COM12.18%$205M5.67M
4UALUNITED AIRLINEShistory →COM11.49%$194M3.53M
5HANHAWAIIAN HOLDINGhistory →COM3.72%$63M5.83M
6JBLUJETBLUE AIRWAYShistory →COM3.69%$62M7.01M
7SKYWSKYWEST INChistory →COM3.64%$61M1.51M
8ALGTALLEGIANT TRAVELhistory →COM3.57%$60M476.7K
9SNCYSUN COUNTRY HOLDhistory →COM3.52%$59M2.64M
10ALKALASKA AIR GROUPhistory →COM3.42%$58M1.08M
11ULCCFRONTIER GROUP Hhistory →COM3.20%$54M5.58M
12TXTTEXTRON INChistory →COM2.17%$37M540.1K
13AIR TRANSPORT SECOM2.15%$36M1.92M
14BABOEING CO/THEhistory →COM2.08%$35M165.9K
15GDGENERAL DYNAMICShistory →COM2.07%$35M162.4K
16TRIPTRIPADVISOR INChistory →COM2.05%$35M2.09M
17BKNGBOOKING HOLDINGShistory →COM2.04%$34M12.8K
18EXPEEXPEDIA GROUP INhistory →COM NEW1.99%$34M306.5K
19RYAAYRYANAIR HLDG-ADRhistory →SPONSORED ADS1.05%$18M160.2K
20CLVTRIP.COM GRO-ADRhistory →ADS1.00%$17M479.7K
21FNVFRANCO-NEVADA COhistory →COM0.59%$10M70.2K
22AZUL SA-ADRSPONSR ADR PFD0.58%$10M720.1K
23RGLDROYAL GOLD INCCOM0.58%$10M85.2K
24WPMWHEATON PRECIOUSCOM0.58%$10M225.2K
25COPA HOLDIN-CL ACL A0.51%$9M78.0K
26EMBJEMBRAER SA-ADRSPONSORED ADS0.50%$8M549.8K
27ASRGRUPO AEROPO-ADRSPON ADR SER B0.50%$8M30.6K
28OSISKO GOLD ROYACOM0.23%$4M257.7K
29AYS1SANDSTORM GOLDCOM NEW0.23%$4M771.3K
30SBSWSIBANYE-STI-ADRSPONSORED ADR0.21%$4M570.5K
31VOXRVOX ROYALTY CORPCOM0.19%$3M1.30M
32EQXEQUINOX GOLD CORCOM0.17%$3M632.6K
33HAMHARMONY GOLD-ADRSPONSORED ADR0.17%$3M683.6K
34NGDNNEW GOLD INCCOM0.17%$3M2.62M
35DRDGOLD LTD-ADRSPON ADR REPSTG0.16%$3M261.0K
36EDGGOLD FIELDS-ADRSPONSORED ADR0.16%$3M199.3K
37IMGIAMGOLD CORPCOM0.16%$3M1.03M
38AGIALAMOS GOLD INC NEWCOM CL A0.16%$3M225.0K
39ANGLOGOLD AS-ADRSPONSORED ADR0.16%$3M126.3K
40TSLATESLA INCCOM0.14%$2M9.3K
41EMXEMX ROYALTY CORPCOM0.14%$2M1.25M
42HAMHARMONY GOLD MINING CO LTDSPONSORED ADR0.12%$2M500.0K
43MARMARRIOTT INTL INC NEWCL A0.12%$2M11.1K
44EDGGOLD FIELDS LTDSPONSORED ADR0.12%$2M145.0K
45AEMAGNICO EAGLE MINES LTDCOM0.12%$2M40.0K
46KGCKINROSS GOLD CORPCOM0.11%$2M375.0K
47DRDGOLD LIMITEDSPON ADR REPSTG0.10%$2M165.0K
48HLTHILTON WORLDWIDE HLDGS INCCOM0.10%$2M12.0K
49JPMJPMORGAN CHASE & COCOM0.10%$2M12.0K
50LVSLAS VEGAS SANDS CORPCOM0.10%$2M30.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$858M162May 1, 202613F-HRchanges · EDGAR ↗
Q4 2025$934M158Jan 28, 202613F-HRchanges · EDGAR ↗
Q3 2025$886M171Oct 21, 202513F-HRchanges · EDGAR ↗
Q2 2025$850M173Jul 24, 202513F-HRchanges · EDGAR ↗
Q1 2025$757M170Apr 24, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.0B160Feb 5, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.0B169Oct 21, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.1B163Jul 23, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.2B180Apr 24, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.5B181Jan 23, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.2B151Oct 18, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.7B140Jul 24, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.5B152Apr 28, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.7B153Feb 3, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.6B153Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.1B163Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$3.0B162May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.7B172Feb 8, 202213F-HRchanges · EDGAR ↗
Q3 2021$3.1B176Nov 8, 202113F-HRchanges · EDGAR ↗
Q2 2021$3.0B170Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$3.1B167Apr 23, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.3B201Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.4B208Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.1B225Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$374M185May 4, 202013F-HRchanges · EDGAR ↗
Q4 2019$223M185Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$184M182Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$194M219Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019$209M218May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$173M183Feb 12, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.