# EDGAR Filing Document

**Accession Number:** 0000101507
**File Stem:** 0000101507-26-000104
**Filing Date:** 2026-5
**Character Count:** 30995
**Document Hash:** 5ef59ac89f139e2028ecfb2f46eca0bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000101507-26-000104.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0000101507-26-000104

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** US GLOBAL INVESTORS FUNDS
- **CENTRAL INDEX KEY:** 0000101507

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01800
- **FILM NUMBER:** 261012132

**BUSINESS ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA
- **STREET 2:** SUITE 600
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 2103081234

**MAIL ADDRESS:**
- **STREET 1:** THREE CANAL PLAZA
- **STREET 2:** SUITE 600
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** US GLOBAL INVESTORS INC/ TX
- **DATE OF NAME CHANGE:** 19970224

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITED SERVICES FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITED SERVICES GOLD SHARES INC
- **DATE OF NAME CHANGE:** 19841106

## Series and Classes Contracts Data

### Gold and Precious Metals Fund (Series ID: S000004783)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000012994 | Gold and Precious Metals Fund | USERX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** U.S. GLOBAL INVESTORS FUNDS

- **b. Investment Company Act file number:** 811-01800

- **c. CIK number of Registrant:** 0000101507

- **d. LEI of Registrant:** 254900I1ONHL0TVFXN37

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** THREE CANAL PLAZA, SUITE 600

  - **City:** PORTLAND

  - **State:** ME

  - **Foreign country:** US

  - **Zip / Postal Code:** 04101

  - **Telephone number:** 207-347-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** USGI GOLD AND PRECIOUS METALS FUND

- **b. EDGAR series identifier (if any):** S000004783

- **c. LEI of Series:** 254900JI6NGFC9EL1N92

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $287867959.83

**Total Liabilities:** $7908159.87

**Net Assets:** $279959799.96

**Cash Not Reported:** $23941614.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012994 | 13.16%               | 20.36%               | -24.11%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $660943.69               | $34847180.08                               |
| Month 2  | $232061.60               | $65071989.35                               |
| Month 3  | $11107665.84             | $-104825715.45                             |

### Schedule of Portfolio Investments

| Name                           | Title                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agnico Eagle Mines Ltd         | Agnico Eagle Mines, Ltd.          | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     30000 | NS      | $6089400.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                | Alamos Gold, Inc.                 | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     70000 | NS      | $3110100.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIS MINING CORP               | Aris Gold Corp.                   | CUSIP: 04041BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1383652 | PA      | $4911964.60   | 1.75%             | 2027-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Pan African Resources PLC      | Pan African Resources PLC         | CUSIP: N/A<br>LEI: 213800EAXURCXMX6RL85       | Long             | EC               | CORP              | GB        |    750000 | NS      | $1389686.17   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Avino Silver & Gold Mines Ltd  | Avino Silver & Gold Mines, Ltd.   | CUSIP: 053906103<br>LEI: 549300DZZNDMPML1VJ37 | Long             | EC               | CORP              | CA        |    100000 | NS      | $632000.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Coeur Mining Inc               | Coeur Mining, Inc.                | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |    349385 | NS      | $6557956.45   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DRDGOLD Ltd                    | DRDGOLD, Ltd.                     | CUSIP: 26152H301<br>LEI: 529900Z0P3GRRN23MG34 | Long             | EC               | CORP              | ZA        |     50000 | NS      | $1468500.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Silver Corp          | Endeavour Silver Corp.            | CUSIP: N/A<br>LEI: 549300IF2E29780PPV02       | Long             | EC               | CORP              | CA        |    235200 | NS      | $2194591.33   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Petropavlovsk PLC              | Petropavlovsk PLC                 | CUSIP: N/A<br>LEI: 213800ZZOU5P76L8XB92       | Long             | EC               | CORP              | GB        |   4886855 | NS      | $0.07         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| First Majestic Silver Corp     | First Majestic Silver Corp.       | CUSIP: 32076V103<br>LEI: 529900PWCU5DUH1DYR51 | Long             | EC               | CORP              | CA        |     50000 | NS      | $1074000.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Caribbean Resources Corp.      | Caribbean Resources Corp.         | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    485766 | PA      | $0.00         | 0.00%             | 2015-06-15      | Fixed         | 19.25%                | No            |                  3 | On Loan: No      |
| Gold Fields Ltd                | Gold Fields, Ltd.                 | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |    150000 | NS      | $6810000.00   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Hecla Mining Co                | Hecla Mining Co.                  | CUSIP: 422704106<br>LEI: 5493009Y6HOBZD1QD537 | Long             | EC               | CORP              | US        |     75000 | NS      | $1397250.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                   | IAMGOLD Corp.                     | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    575000 | NS      | $10821500.00  | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd   | Impala Platinum Holdings, Ltd.    | CUSIP: 452553308<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |    300000 | NS      | $4416000.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra Resources Corp         | Integra Resources Corp.           | CUSIP: 45826T509<br>LEI: 529900MC191X8CY3P306 | Long             | EC               | CORP              | CA        |    350000 | NS      | $955500.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt | Metalla Royalty & Streaming, Ltd. | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |    500000 | NS      | $3315000.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkane Resources Ltd           | Alkane Resources, Ltd.            | CUSIP: N/A<br>LEI: 529900R65IIVLPW4ZS42       | Long             | EC               | CORP              | AU        |   2000000 | NS      | $2025130.75   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Pantoro Gold Ltd               | Pantoro Gold, Ltd.                | CUSIP: N/A<br>LEI: 254900ZMQXTNJJIP4K51       | Long             | EC               | CORP              | AU        |    200000 | NS      | $466724.39    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| St Barbara Ltd                 | St Barbara, Ltd.                  | CUSIP: N/A<br>LEI: 2549001WR6XSXNOD1F93       | Long             | EC               | CORP              | AU        |   1331691 | NS      | $574995.43    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Resolute Mining Ltd            | Resolute Mining, Ltd.             | CUSIP: N/A<br>LEI: 254900MP8JONT590XY28       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $988833.16    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Valterra Platinum Ltd          | Valterra Platinum, Ltd.           | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |     10000 | NS      | $840578.97    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| OR Royalties Inc               | OR Royalties, Inc.                | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |     70000 | NS      | $2661400.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp       | Pan American Silver Corp.         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     73555 | NS      | $4018309.65   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                 | SSR Mining, Inc.                  | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | CA        |    110000 | NS      | $3234000.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sibanye Stillwater Ltd         | Sibanye Stillwater, Ltd.          | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |    275000 | NS      | $3388000.00   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercorp Metals Inc          | Silvercorp Metals, Inc.           | CUSIP: 82835P103<br>LEI: 52990092RT3UCQ7G3177 | Long             | EC               | CORP              | CA        |    250000 | NS      | $2685000.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Triple Flag Precious Metals Co | Triple Flag Precious Metals Corp. | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |     60000 | NS      | $2082600.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Vox Royalty Corp               | Vox Royalty Corp.                 | CUSIP: 92919F103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   1512000 | NS      | $7922880.00   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc              | Centerra Gold, Inc.               | CUSIP: N/A<br>LEI: 549300K0HXTMP5JJ0E62       | Long             | EC               | CORP              | CA        |    210000 | NS      | $3734742.29   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd            | Catalyst Metals, Ltd.             | CUSIP: N/A<br>LEI: 9845002GB72C3J4A3E64       | Long             | EC               | CORP              | AU        |    400000 | NS      | $1803460.79   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Evolution Mining Ltd           | Evolution Mining, Ltd.            | CUSIP: N/A<br>LEI: 254900BCFW5QO5LW8F27       | Long             | EC               | CORP              | AU        |    500000 | NS      | $4502356.87   | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Asante Gold Corp               | Asante Gold Corp.                 | CUSIP: N/A<br>LEI: 529900F9PV1G9S5YD446       | Long             | EC               | CORP              | CA        |    118491 | NS      | $97954.60     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Torex Gold Resources Inc       | Torex Gold Resources, Inc.        | CUSIP: N/A<br>LEI: 549300QL07027186GQ85       | Long             | EC               | CORP              | CA        |    200000 | NS      | $9179785.78   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Cat Syndicate Ltd        | Black Cat Syndicate, Ltd.         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   2344104 | NS      | $1658799.12   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Mene Inc                       | Mene, Inc.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   6739285 | NS      | $968914.53    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc          | Aya Gold & Silver, Inc.           | CUSIP: N/A<br>LEI: 549300BWX8KJOTUL4M51       | Long             | EC               | CORP              | CA        |    775000 | NS      | $11821939.47  | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Artemis Gold Inc               | Artemis Gold, Inc.                | CUSIP: N/A<br>LEI: 529900GXBX7DGL5YMO49       | Long             | EC               | CORP              | CA        |     40000 | NS      | $1085471.93   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Firefinch Ltd                  | Firefinch, Ltd.                   | CUSIP: N/A<br>LEI: 52990065EGEF8FEI8S51       | Long             | EC               | CORP              | AU        |   5000000 | NS      | $219059.18    | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| Kaiser Reef Ltd                | Kaiser Reef, Ltd.                 | CUSIP: N/A<br>LEI: 529900XRN3TOQKNA4168       | Long             | EC               | CORP              | AU        |   5107143 | NS      | $965846.16    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Star Royalties Ltd             | Star Royalties, Ltd.              | CUSIP: N/A<br>LEI: 529900X8I0KC9ISF8312       | Long             | EC               | CORP              | CA        |   3500000 | NS      | $1308317.16   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| McEwen Inc                     | McEwen, Inc.                      | CUSIP: N/A<br>LEI: 5493000FX50GEWAF3U70       | Long             | EC               | CORP              | US        |    100000 | NS      | $2046581.84   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Borealis Mining Co Ltd         | Borealis Mining Co., Ltd.         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1000000 | NS      | $1020774.93   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Borealis Mining Co             | Borealis Mining Co.               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    450000 | NC      | $207030.41    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silver X Mining Corp           | Silver X Mining Corp.             | CUSIP: N/A<br>LEI: 894500TOVTJDJJ6WSU81       | Long             | EC               | CORP              | CA        |   1550000 | NS      | $824527.35    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver X Mining Corp           | Silver X Mining Corp.             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    500000 | NC      | $14377.11     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Heliostar Metals Ltd           | Heliostar Metals, Ltd.            | CUSIP: N/A<br>LEI: 529900BF6RCFL9WNSB18       | Long             | EC               | CORP              | CA        |   1500000 | NS      | $2587880.09   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Guanajuato Silver Co Ltd       | Guanajuato Silver Co., Ltd.       | CUSIP: N/A<br>LEI: 549300C1VGZKX7N1GH74       | Long             | EC               | CORP              | CA        |   4000000 | NS      | $1754007.62   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Guanajuato Silver Co Ltd       | Guanajuato Silver Co., Ltd.       | CUSIP: BMDM727W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    350000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aclara Resources Inc           | Aclara Resources, Inc.            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    137400 | NS      | $329894.33    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tolu Minerals Ltd              | Tolu Minerals, Ltd.               | CUSIP: N/A<br>LEI: 529900GTAE7MCGHVUG46       | Long             | EC               | CORP              | PG        |   3805669 | NS      | $4130150.48   | 1.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Versamet Royalties Corp        | Versamet Royalties Corp.          | CUSIP: N/A<br>LEI: 529900W4YMNK6YDBX055       | Long             | EC               | CORP              | CA        |    250000 | NS      | $2372223.42   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Luca Mining Corp               | Luca Mining Corp.                 | CUSIP: N/A<br>LEI: 875500QZ1JRZS7VYL982       | Long             | EC               | CORP              | CA        |   2750000 | NS      | $2767593.99   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Northam Platinum Holdings Ltd  | Northam Platinum Holdings, Ltd.   | CUSIP: N/A<br>LEI: 3789009D0712C7101695       | Long             | EC               | CORP              | ZA        |     40000 | NS      | $816188.70    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Empress Royalty Corp           | Empress Royalty Corp.             | CUSIP: N/A<br>LEI: 254900BKH28GZ49I9F93       | Long             | EC               | CORP              | CA        |   2742000 | NS      | $1872546.91   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Silver Corp          | Discovery Silver Corp.            | CUSIP: N/A<br>LEI: 98450041CCB3E8QD3F53       | Long             | EC               | CORP              | CA        |   2050000 | NS      | $13174466.25  | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Andean Precious Metals Corp    | Andean Precious Metals Corp.      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    800000 | NS      | $3996837.04   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| St Barbara Ltd                 | St Barbara, Ltd.                  | CUSIP: N/A<br>LEI: 2549001WR6XSXNOD1F93       | Long             | EC               | CORP              | AU        |    668309 | NS      | $288561.40    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Mako Mining Corp               | Mako Mining Corp.                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    100000 | NS      | $644094.60    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Culico Metals Inc              | Culico Metals, Inc.               | CUSIP: N/A<br>LEI: 2549005B5ATUIJJB6L88       | Long             | EC               | CORP              | CA        |    180000 | NS      | $54992.45     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mineros SA                     | Mineros SA                        | CUSIP: N/A<br>LEI: 549300991PEKFIGLDE07       | Long             | EC               | CORP              | CO        |   3000000 | NS      | $10351520.38  | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| DPM Metals Inc                 | DPM Metals, Inc.                  | CUSIP: N/A<br>LEI: 549300LATVTU0EIUMD45       | Long             | EC               | CORP              | CA        |    270000 | NS      | $9506577.53   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver Crown Royalties Inc     | Silver Crown Royalties, Inc.      | CUSIP: N/A<br>LEI: 254900FEQ9DH6PZ51S07       | Long             | EC               | CORP              | CA        |    150000 | NS      | $1454604.27   | 0.52%             |  |  |  | No            |                  3 | On Loan: No      |
| Silver Crown Royalties Inc     | Silver Crown Royalties, Inc.      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     85000 | NC      | $244410.90    | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| Leo Lithium Ltd                | Leo Lithium, Ltd.                 | CUSIP: N/A<br>LEI: 984500LD0A57A68EZ677       | Long             | EC               | CORP              | AU        |   3500000 | NS      | $0.03         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Abaxx Technologies Inc         | Abaxx Technologies, Inc.          | CUSIP: N/A<br>LEI: 5299002EIVMNJ21B5K89       | Long             | EC               | CORP              | CA        |     30000 | NS      | $1035152.04   | 0.37%             |  |  |  | No            |                  3 | On Loan: No      |
| Aris Mining Corp               | Aris Mining Corp.                 | CUSIP: N/A<br>LEI: 5493001GJ5TILX6L1F82       | Long             | EC               | CORP              | CA        |    340000 | NS      | $6313133.49   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanaGold Corp                | OceanaGold Corp.                  | CUSIP: N/A<br>LEI: 549300CBMSE8I9N3E232       | Long             | EC               | CORP              | CA        |     50000 | NS      | $1576450.29   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Meeka Metals Ltd               | Meeka Metals, Ltd.                | CUSIP: N/A<br>LEI: 529900KOA7NX3J2DL230       | Long             | EC               | CORP              | AU        |   4000000 | NS      | $496535.07    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| LunR Royalties Corp            | LunR Royalties Corp.              | CUSIP: N/A<br>LEI: 529900Q168TQRO7FZ844       | Long             | EC               | CORP              | CA        |     50000 | NS      | $1093019.91   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver Storm Mining Ltd        | Silver Storm Mining, Ltd.         | CUSIP: N/A<br>LEI: 894500WPVRSDR8BLH071       | Long             | EC               | CORP              | CA        |   1750000 | NS      | $578678.74    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Cat Syndicate Ltd        | Black Cat Syndicate, Ltd.         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    155896 | NS      | $110319.40    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Hemlo Mining Corp              | Hemlo Mining Corp.                | CUSIP: N/A<br>LEI: 529900LAXG9T9UEN3T86       | Long             | EC               | CORP              | CA        |    750000 | NS      | $3499029.54   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd            | Catalyst Metals, Ltd.             | CUSIP: N/A<br>LEI: 9845002GB72C3J4A3E64       | Long             | EC               | CORP              | AU        |    100000 | NS      | $450865.20    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Silverco Mining Ltd            | Silverco Mining, Ltd.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     94000 | NS      | $728430.74    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                | Lundin Gold, Inc.                 | CUSIP: N/A<br>LEI: 549300ZOV16K515FC525       | Long             | EC               | CORP              | CA        |     40000 | NS      | $3056861.48   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Royalties Ltd           | Summit Royalties, Ltd.            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1250000 | NS      | $1374811.30   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Americas Gold & Silver Corp    | Americas Gold & Silver Corp.      | CUSIP: N/A<br>LEI: 5493005AKGOT669Z4P51       | Long             | EC               | CORP              | CA        |   1800000 | NS      | $9394004.74   | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Elemental Royalty Corp         | Elemental Royalty Corp.           | CUSIP: N/A<br>LEI: 549300BQ0SXPY5XYOH89       | Long             | EC               | CORP              | CA        |    150000 | NS      | $2824024.15   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Santacruz Silver Mining Ltd    | Santacruz Silver Mining, Ltd.     | CUSIP: N/A<br>LEI: 549300KR50UPLTF0XY61       | Long             | EC               | CORP              | CA        |    350000 | NS      | $3041837.39   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Paragon Advanced Labs Inc      | Paragon Advanced Labs, Inc.       | CUSIP: N/A<br>LEI: 529900I49O1IZX5SDV24       | Long             | EC               | CORP              | CA        |    954430 | NS      | $2229816.33   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Minera Alamos Inc              | Minera Alamos, Inc.               | CUSIP: N/A<br>LEI: 254900I6L38EFNS8Z440       | Long             | EC               | CORP              | CA        |    425000 | NS      | $1872798.50   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Westgold Resources Ltd         | Westgold Resources, Ltd.          | CUSIP: N/A<br>LEI: 2549003AMX9BL7CKBQ74       | Long             | EC               | CORP              | AU        |   1750000 | NS      | $7362272.14   | 2.63%             |  |  |  | No            |                  2 | On Loan: No      |
| K92 Mining Inc                 | K92 Mining, Inc.                  | CUSIP: N/A<br>LEI: 254900EA8H0X9FEVZU11       | Long             | EC               | CORP              | CA        |    900000 | NS      | $15274962.26  | 5.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc          | Anglogold Ashanti PLC             | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     90000 | NS      | $8762400.00   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Minerals Inc              | Aura Minerals, Inc.               | CUSIP: G06973112<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | VG        |    100000 | NS      | $8160000.00   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-22

**Name of Applicant:** US Global Investors Funds

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer