US
U S Global Investors Inc — 13F Portfolio Analysis & Stock Picks (Q2 2026)
U S Global Investors IncCIK: 0000754811
Diversified strategySector-focusedMomentum follower
Total reported value
$1.0B
Reporting period: 2026-06-30 · Number of holdings: 146
U S GLOBAL INVESTORS INC disclosed 146 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.0B and a quarterly turnover rate of 47.7%.
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Personality snowflake
- Concentration
- 20.39
- Portfolio Stability
- 47.73
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 76.51
U S Global Investors Inc's disclosed holdings carry a Herfindahl concentration index of 0.051 — mathematically equivalent to about 20 equally-sized positions, well below its 146 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.35), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd LUV
+19.0% $39.4M
Trim RGLD
-98.5% -$20.4M
Add AAL
-6.7% $39.3M
New buy AYA
Add UAL
-0.5% $33.9M
Trim GFI
-92.1% -$13.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 127 holdings (of 146 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAL | American Airlines Group Inc | Stock-Industrials | 10.43% | +2.37% | -6.74% | |
| 2 | UAL | United Airlines Holdings Inc | Stock-Industrials | 10.21% | +1.79% | -0.49% | |
| 3 | LUV | Southwest Airlines Co | Stock-Industrials | 9.82% | +2.51% | +19.02% | |
| 4 | DAL | Delta Air Lines Inc | Stock-Industrials | 9.68% | +0.60% | -8.26% | |
| 5 | ALGT | Allegiant Travel Co | Stock-Other | 3.93% | +1.10% | +16.05% | |
| 6 | ULCC | Frontier Group Holdings Inc | Stock-Other | 3.74% | +0.95% | -27.53% | |
| 7 | JBLU | Jetblue Airways CORP | Stock-Industrials | 3.30% | +0.44% | +8.19% | |
| 8 | ALK | Alaska Air Group Inc | Stock-Industrials | 3.21% | +0.65% | +7.23% | |
| 9 | SKYW | Skywest Inc | Stock-Industrials | 3.18% | +0.42% | +29.31% | |
| 10 | AYA | Aya Gold & Silver Inc | Stock-Other | 2.05% | +2.04% | NEW | |
| 11 | SABR | Sabre CORP | Stock-Tech | 1.99% | +0.72% | +31.20% | |
| 12 | TRIP | Tripadvisor Inc | Stock-Other | 1.84% | +0.13% | +1.53% | |
| 13 | EXPE | Expedia Group Inc | Stock-Consumer Disc | 1.82% | +0.31% | +31.97% | |
| 14 | OR | Or Royalties Inc | Stock-Other | 1.77% | -0.60% | +8.62% | |
| 15 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 1.74% | +0.26% | +3275.86% | |
| 16 | FNV | Franco-nevada CORP | Stock-Materials | 1.62% | -0.81% | -4.49% | |
| 17 | GD | General Dynamics CORP | Stock-Industrials | 1.58% | +0.14% | +28.25% | |
| 18 | TXT | Textron Inc | Stock-Industrials | 1.56% | +0.13% | +26.59% | |
| 19 | BA | Boeing Co/the | Stock-Industrials | 1.56% | +0.11% | +19.68% | |
| 20 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 1.51% | +1.07% | +379.72% | |
| 21 | IAG | Iamgold CORP | Stock-Other | 1.34% | -0.79% | -9.58% | |
| 22 | USAS | Americas Gold And Silver Cor | Stock-Other | 1.19% | +0.09% | +45.83% | |
| 23 | LTM | Latam Airlines Group Sa-adr | Stock-Other | 0.90% | +0.12% | +18.41% | |
| 24 | RYAAY | Ryanair Holdings Plc-sp Adr | Stock-Industrials | 0.87% | +0.17% | +34.12% | |
| 25 | EXK | Endeavour Silver CORP | Stock-Materials | 0.83% | +0.51% | +253.39% | |
| 26 | PAAS | Pan American Silver CORP | Stock-Materials | 0.76% | +0.29% | +140.03% | |
| 27 | VOXR | Vox Royalty CORP | Stock-Other | 0.76% | -0.26% | — | |
| 28 | CDE | Coeur Mining Inc | Stock-Materials | 0.69% | -1.13% | -47.06% | |
| 29 | TCOM | Trip.com Group Ltd-adr | Stock-Consumer Disc | 0.67% | -0.05% | +42.10% | |
| 30 | HMY | Harmony Gold Mng-spon Adr | Stock-Other | 0.63% | -0.08% | +7.71% | |
| 31 | FSM | Fortuna Mining CORP | Stock-Other | 0.60% | +0.16% | +93.82% | |
| 32 | B | Barrick Mining CORP | Stock-Materials | 0.60% | -0.08% | +18.99% | |
| 33 | ARIS | Aris Mining CORP | Stock-Other | 0.57% | -0.17% | +17.65% | |
| 34 | MMYT | MakeMyTrip Limited | Stock-Other | 0.51% | -0.10% | -29.37% | |
| 35 | TFPM | Triple Flag Precious Met | Stock-Materials | 0.50% | +0.26% | +186.67% | |
| 36 | CGAU | Centerra Gold Inc | Stock-Other | 0.46% | -0.45% | -31.58% | |
| 37 | OMAB | Grupo Aeroportuario Cen-adr | Stock-Other | 0.46% | +0.06% | +38.83% | |
| 38 | EMBJ | Embraer Sa-spon Adr | Stock-Industrials | 0.45% | -0.33% | -34.55% | |
| 39 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.45% | -0.95% | -49.27% | |
| 40 | NEM | Newmont CORP | Stock-Materials | 0.45% | -0.01% | +35.05% | |
| 41 | CPA | Copa Holdings, S.A. | Stock-Other | 0.45% | +0.07% | +4.65% | |
| 42 | ASR | Grupo Aeroportuario Sur-adr | Stock-Other | 0.43% | +0.04% | +46.42% | |
| 43 | MTA | Metalla Royalty & Streaming | Stock-Other | 0.41% | -0.04% | -3.46% | |
| 44 | ASM | Avino Silver & Gold Mines | Stock-Other | 0.37% | +0.30% | +510.00% | |
| 45 | VZLA | Vizsla Silver CORP | Stock-Other | 0.33% | -0.08% | — | |
| 46 | AUGO | Aura Minerals Inc. | Stock-Other | 0.30% | -0.65% | -50.00% | |
| 47 | SSRM | Ssr Mining Inc | Stock-Materials | 0.30% | -0.08% | — | |
| 48 | AGI | Alamos Gold Inc-class A | Stock-Materials | 0.29% | -0.75% | -50.25% | |
| 49 | RACE | Ferrari N.V. | Stock-Consumer Disc | 0.28% | -0.03% | — | |
| 50 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.26% | -0.05% | -9.15% |
1–50 of 127
Portfolio Performance
Performance for Q3 2026
+1%
Performance Last 4 Quarters
+19.7%
- Stdev
- +28.6%
- Beta
- +1.28
- Alpha
- -2.5%
- Max Drawdown
- -25.1%
- Annualized Perf
- +20.8%
- Batting Avg vs S&P
- +50%
- Sortino
- +1.33
- Stutzer
- +0.23
- Treynor
- +0.18
- Sterling
- +0.74
- Calmar
- +0.83
- Information Ratio
- +0.13
- Tracking Error
- +23.6%
- Stdev Down
- +17.4%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +56.6%
- Worst 12 Months
- -3.2%
- Efficiency Ratio
- +0.3
- Sharpe
- +0.81
- Stdev Sectors
- +24.4%
- Skewness
- -0.36
- Kurtosis
- -0.79
- Upside Potential
- +3.09
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 146 | $1.0B | 48 | ||
| 2026 Q1 | 162 | $857.6M | 37 | ||
| 2025 Q4 | 158 | $934.0M | 33 | ||
| 2025 Q3 | 171 | $885.6M | 35 | ||
| 2025 Q2 | 173 | $850.3M | 0 | ||
| 2025 Q1 | 170 | $757.4M | 100 | ||
| 2024 Q4 | 160 | $1.0B | 0 | ||
| 2024 Q3 | 169 | $1.0B | 0 | ||
| 2024 Q2 | 163 | $1.1B | 0 | ||
| 2024 Q1 | 180 | $1.2B | 0 | ||
| 2023 Q4 | 181 | $1.5B | 0 | ||
| 2023 Q3 | 151 | $1.2B | 0 | ||
| 2023 Q2 | 140 | $1.7B | 0 | ||
| 2023 Q1 | 152 | $1.5B | 0 | ||
| 2022 Q4 | 153 | $1.7B | 0 | ||
| 2022 Q3 | 153 | $1.6B | 0 | ||
| 2022 Q2 | 163 | $2.1B | 0 | ||
| 2022 Q1 | 162 | $3.0B | 0 | ||
| 2021 Q4 | 172 | $2.7B | 0 | ||
| 2021 Q3 | 176 | $3.1B | 0 | ||
| 2021 Q2 | 170 | $3.0B | 100 | ||
| 2021 Q1 | 167 | $3.1B | 44 | ||
| 2020 Q4 | 201 | $2.3B | 60 | ||
| 2020 Q3 | 208 | $1.4B | 36 | ||
| 2020 Q2 | 225 | $1.1B | 100 | ||
| 2020 Q1 | 185 | $373.9M | 100 | ||
| 2019 Q4 | 185 | $222.9M | 47 | ||
| 2019 Q3 | 182 | $184.0M | 65 | ||
| 2019 Q2 | 219 | $193.7M | 67 | ||
| 2019 Q1 | 218 | $208.9M | 56 | ||
| 2018 Q4 | 183 | $173.1M | 55 | ||
| 2018 Q3 | 184 | $207.2M | 61 | ||
| 2018 Q2 | 175 | $219.9M | 75 | ||
| 2018 Q1 | 143 | $162.7M | 54 | ||
| 2017 Q4 | 155 | $219.4M | 78 | ||
| 2017 Q3 | 174 | $336.7M | 54 | ||
| 2017 Q2 | 170 | $292.1M | 100 | ||
| 2017 Q1 | 179 | $43.2B | 100 | ||
| 2016 Q4 | 185 | $238.3M | 100 | ||
| 2016 Q3 | 212 | $211.5M | 65 | ||
| 2016 Q2 | 196 | $182.2M | 75 | ||
| 2016 Q1 | 232 | $186.3M | 86 | ||
| 2015 Q4 | 314 | $191.8M | 83 | ||
| 2015 Q3 | 371 | $188.5M | 79 | ||
| 2015 Q2 | 356 | $260.8M | 100 | 199F99626YE995323P995 | |
| 2015 Q1 | 399 | $358.3M | 100 | 195L995295L995391K996 | |
| 2014 Q4 | 391 | $373.0M | 100 | 13U4998233Z99339T5997 | |
| 2014 Q3 | 392 | $353.1M | 100 | ||
| 2014 Q2 | 427 | $469.0M | 100 | ||
| 2014 Q1 | 424 | $606.7M | 100 | 15QK99527VF99537ZD994 | |
| 2013 Q4 | 442 | $555.6M | 70 | ||
| 2013 Q3 | 439 | $585.0M | 87 | ||
| 2013 Q2 | 439 | $583.7M | — |
Holding changes this quarter
U S Global Investors Inc's most significant position changes for 2026-06-30: New buy: Aya Gold & Silver Inc (AYA); Sold out: Drdgold Ltd-sponsored Adr (DRD); Sold out: Kinross Gold CORP (KGC); Sold out: Orla Mining LTD (ORLA); Sold out: Elemental Royalty CORP (ELE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LUV | Southwest Airlines Co | +2.5% | +19.02% | Add |
| 2 | AAL | American Airlines Group Inc | +2.4% | -6.74% | Trim |
| 3 | AYA | Aya Gold & Silver Inc | +2% | NEW | New buy |
| 4 | UAL | United Airlines Holdings Inc | +1.8% | -0.49% | Trim |
| 5 | ALGT | Allegiant Travel Co | +1.1% | +16.05% | Add |
| 6 | WPM | Wheaton Precious Metals CORP | +1.1% | +379.72% | Add |
| 7 | ULCC | Frontier Group Holdings Inc | +1% | -27.53% | Trim |
| 8 | SABR | Sabre CORP | +0.7% | +31.20% | Add |
| 9 | ALK | Alaska Air Group Inc | +0.7% | +7.23% | Add |
| 10 | DAL | Delta Air Lines Inc | +0.6% | -8.26% | Trim |
| 11 | EXK | Endeavour Silver CORP | +0.5% | +253.39% | Add |
| 12 | JBLU | Jetblue Airways CORP | +0.4% | +8.19% | Add |
| 13 | SKYW | Skywest Inc | +0.4% | +29.31% | Add |
| 14 | EXPE | Expedia Group Inc | +0.3% | +31.97% | Add |
| 15 | ASM | Avino Silver & Gold Mines | +0.3% | +510.00% | Add |
| 16 | PAAS | Pan American Silver CORP | +0.3% | +140.03% | Add |
| 17 | BKNG | Booking Holdings Inc | +0.3% | +3275.86% | Add |
| 18 | TFPM | Triple Flag Precious Met | +0.3% | +186.67% | Add |
| 19 | RYAAY | Ryanair Holdings Plc-sp Adr | +0.2% | +34.12% | Add |
| 20 | FSM | Fortuna Mining CORP | +0.2% | +93.82% | Add |
| 21 | GD | General Dynamics CORP | +0.1% | +28.25% | Add |
| 22 | ✓ | Carnival CORP LTD F | +0.1% | NEW | New buy |
| 23 | TRIP | Tripadvisor Inc | +0.1% | +1.53% | Add |
| 24 | TXT | Textron Inc | +0.1% | +26.59% | Add |
| 25 | AXP | American Express Co | +0.1% | NEW | New buy |
| 26 | LTM | Latam Airlines Group Sa-adr | +0.1% | +18.41% | Add |
| 27 | OGC | Oceanagold CORP | +0.1% | NEW | New buy |
| 28 | BA | Boeing Co/the | +0.1% | +19.68% | Add |
| 29 | HSLV | Highlander Silver CORP | +0.1% | +16.07% | Add |
| 30 | USAS | Americas Gold And Silver Cor | +0.1% | +45.83% | Add |
| 31 | VIK | Viking Holdings Ltd | +0.1% | +53.51% | Add |
| 32 | INSW | International Seaways, Inc. | +0.1% | NEW | New buy |
| 33 | CPA | Copa Holdings, S.A. | +0.1% | +4.65% | Add |
| 34 | BX | Blackstone Inc | +0.1% | NEW | New buy |
| 35 | ✓ | +0.1% | NEW | New buy | |
| 36 | OMAB | Grupo Aeroportuario Cen-adr | +0.1% | +38.83% | Add |
| 37 | STNG | Scorpio Tankers Inc. | +0.1% | NEW | New buy |
| 38 | AAPL | Apple Inc | +0.1% | NEW | New buy |
| 39 | DHT | DHT Holdings, Inc. | +0.1% | +161.19% | Add |
| 40 | ASR | Grupo Aeroportuario Sur-adr | 0% | +46.42% | Add |
| 41 | BMM | Blue Moon Metals Inc | 0% | +100.00% | Add |
| 42 | ✓ | 0% | NEW | New buy | |
| 43 | ✓ | Euroseas LTD F | 0% | NEW | New buy |
| 44 | ✓ | 0% | NEW | New buy | |
| 45 | WDS | Woodside Energy Group-adr | 0% | +66.67% | Add |
| 46 | CAT | Caterpillar Inc | 0% | — | Unchanged |
| 47 | EL | Estee Lauder Companies-cl A | 0% | +21.54% | Add |
| 48 | TOL | Toll Brothers Inc | 0% | +16.67% | Add |
| 49 | IE | Ivanhoe Electric Inc / US | 0% | +94.34% | Add |
| 50 | MGM | Mgm Resorts International | 0% | +104.00% | Add |
1–50 of 147
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is U S Global Investors Inc and what type of investor is it?
U S Global Investors Inc is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.0B, spread across 146 disclosed positions.
What are U S Global Investors Inc's largest equity positions?
Based on the latest 13F filing, U S Global Investors Inc's top holdings by market value are:
1. American Airlines Group Inc (AAL) — $108.4M (10.4%)
2. United Airlines Holdings Inc (UAL) — $106.2M (10.2%)
3. Southwest Airlines Co (LUV) — $102.1M (9.8%)
4. Delta Air Lines Inc (DAL) — $100.7M (9.7%)
5. Allegiant Travel Co (ALGT) — $40.8M (3.9%)
What changes did U S Global Investors Inc make in its most recent portfolio filing?
In the latest reported quarter, U S Global Investors Inc made 114 notable position adjustments: 12 new positions were initiated, 44 existing holdings were added to, 38 positions were partially reduced, and 20 were completely exited. The largest of these moves: New buy: Aya Gold & Silver Inc (AYA); Sold out: Drdgold Ltd-sponsored Adr (DRD); Sold out: Kinross Gold CORP (KGC); Sold out: Orla Mining LTD (ORLA); Sold out: Elemental Royalty CORP (ELE)
What sectors does U S Global Investors Inc focus on?
U S Global Investors Inc is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 76.3%
• Materials: 11.5%
• Consumer Discretionary: 8.0%
• Information Technology: 2.8%
• Energy: 0.8%
• Financials: 0.4%
Investment Profile
U S Global Investors Inc returned an annualized 20.8% over the trailing 36 months — underperforming the S&P 500 by 2.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.28 (more volatile than the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 76.3% of the portfolio concentrated in Industrials.
Its turnover score has risen from 0 to 48 over the past 4 quarters — a shift toward more active trading.
It has added to its ULCC position over the past two quarters (+$19.4M, now $38.9M), while trimming CGAU over the same stretch (-$5.6M, still holding $4.7M).
Peer Institutions
Institutions with a similar AUM
WC
Westerkirk Capital Inc.
CIK 0002080423
Total reported value
$1.0B
212 stks
2026-06-30
Concentration16.4
Portfolio Stability23.6
Sector conviction61.1
AUM within 0.0% of this institution
View detail
LP
Long Pond Capital, LP
CIK 0001499066
Total reported value
$1.0B
31 stks
2026-06-30
Concentration35.7
Portfolio Stability80.9
Sector conviction100.0
AUM within 0.1% of this institution
View detail
SO
Sr One Capital Management, LP
CIK 0001910264
Total reported value
$1.0B
15 stks
2026-06-30
Concentration55.9
Portfolio Stability76.3
Sector conviction100.0
AUM within 0.1% of this institution
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Developer Access
Access U S Global Investors Inc's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/u-s-global-investors-incCLI
npx alphasmo institutions get u-s-global-investors-inc