# EDGAR Filing Document

**Accession Number:** 0000101507
**File Stem:** 0000101507-26-000041
**Filing Date:** 2026-2
**Character Count:** 31616
**Document Hash:** fc26596bc3829e5256d70e47cc199f82
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000101507-26-000041.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000101507-26-000041

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**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:** 26701504

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $276678043.91

**Total Liabilities:** $712150.16

**Net Assets:** $275965893.75

**Cash Not Reported:** $5475412.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012994 | -4.32%               | 15.21%               | 7.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8560252.92              | $-19026374.50                              |
| Month 2  | $11544190.90             | $21371303.95                               |
| Month 3  | $4938789.28              | $13524583.54                               |

### 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      | $5085900.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                | Alamos Gold, Inc.                 | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     35000 | NS      | $1350300.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIS MINING CORP               | Aris Gold Corp.                   | CUSIP: 04041BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1621467 | PA      | $4459034.25   | 1.62%             | 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      | $1220921.67   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp            | Barrick Mining Corp.              | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    300000 | NS      | $13065000.00  | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Coeur Mining Inc               | Coeur Mining, Inc.                | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |    275000 | NS      | $4903250.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| DRDGOLD Ltd                    | DRDGOLD, Ltd.                     | CUSIP: 26152H301<br>LEI: 529900Z0P3GRRN23MG34 | Long             | EC               | CORP              | ZA        |     50000 | NS      | $1550500.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp             | Eldorado Gold Corp.               | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |     50000 | NS      | $1796000.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp              | Equinox Gold Corp.                | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |    200000 | NS      | $2808000.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Silver Corp          | Endeavour Silver Corp.            | CUSIP: N/A<br>LEI: 549300IF2E29780PPV02       | Long             | EC               | CORP              | CA        |    275000 | NS      | $2586608.87   | 0.94%             |  |  |  | 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      |
| 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      | $6549000.00   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                   | IAMGOLD Corp.                     | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    575000 | NS      | $9481750.00   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd   | Impala Platinum Holdings, Ltd.    | CUSIP: 452553308<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |    300000 | NS      | $4704000.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp              | Kinross Gold Corp.                | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    100000 | NS      | $2816000.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt | Metalla Royalty & Streaming, Ltd. | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |    500000 | NS      | $3890000.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkane Resources Ltd           | Alkane Resources, Ltd.            | CUSIP: N/A<br>LEI: 529900R65IIVLPW4ZS42       | Long             | EC               | CORP              | AU        |   2000000 | NS      | $1781524.28   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pantoro Gold Ltd               | Pantoro Gold, Ltd.                | CUSIP: N/A<br>LEI: 254900ZMQXTNJJIP4K51       | Long             | EC               | CORP              | AU        |    200000 | NS      | $645804.90    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| St Barbara Ltd                 | St Barbara, Ltd.                  | CUSIP: N/A<br>LEI: 2549001WR6XSXNOD1F93       | Long             | EC               | CORP              | AU        |   1331691 | NS      | $511563.81    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Resolute Mining Ltd            | Resolute Mining, Ltd.             | CUSIP: N/A<br>LEI: 254900MP8JONT590XY28       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $809936.71    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| New Gold Inc                   | New Gold, Inc.                    | CUSIP: 644535106<br>LEI: 5493005G0GNCHP0H6L96 | Long             | EC               | CORP              | CA        |    150000 | NS      | $1306500.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ramelius Resources Ltd         | Ramelius Resources, Ltd.          | CUSIP: N/A<br>LEI: 254900E44AIGW7KKNR98       | Long             | EC               | CORP              | AU        |   1200000 | NS      | $3300478.09   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Valterra Platinum Ltd          | Valterra Platinum, Ltd.           | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               | CORP              | ZA        |     10000 | NS      | $846885.27    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc               | OR Royalties, Inc.                | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |    100000 | NS      | $3539000.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp       | Pan American Silver Corp.         | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     73555 | NS      | $3810884.55   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Sibanye Stillwater Ltd         | Sibanye Stillwater, Ltd.          | CUSIP: 82575P107<br>LEI: 378900F238434B74D281 | Long             | EC               | CORP              | ZA        |    275000 | NS      | $3918750.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercorp Metals Inc          | Silvercorp Metals, Inc.           | CUSIP: 82835P103<br>LEI: 52990092RT3UCQ7G3177 | Long             | EC               | CORP              | CA        |    250000 | NS      | $2085000.00   | 0.76%             |  |  |  | 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      | $1993200.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Vox Royalty Corp               | Vox Royalty Corp.                 | CUSIP: 92919F103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   1412000 | NS      | $6692880.00   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc              | Centerra Gold, Inc.               | CUSIP: N/A<br>LEI: 549300K0HXTMP5JJ0E62       | Long             | EC               | CORP              | CA        |    210000 | NS      | $3023277.84   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd            | Catalyst Metals, Ltd.             | CUSIP: N/A<br>LEI: 9845002GB72C3J4A3E64       | Long             | EC               | CORP              | AU        |    400000 | NS      | $1945312.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Genesis Minerals Ltd           | Genesis Minerals, Ltd.            | CUSIP: N/A<br>LEI: 894500AK5BVRCNP0FP48       | Long             | EC               | CORP              | AU        |    250000 | NS      | $1195889.92   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd           | Evolution Mining, Ltd.            | CUSIP: N/A<br>LEI: 254900BCFW5QO5LW8F27       | Long             | EC               | CORP              | AU        |    500000 | NS      | $4184370.80   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Asante Gold Corp               | Asante Gold Corp.                 | CUSIP: N/A<br>LEI: 529900F9PV1G9S5YD446       | Long             | EC               | CORP              | CA        |    750000 | NS      | $901606.50    | 0.33%             |  |  |  | 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      | $9550107.46   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Cat Syndicate Ltd        | Black Cat Syndicate, Ltd.         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   4844104 | NS      | $3973385.69   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Mene Inc                       | Mene, Inc.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   6739285 | NS      | $736507.05    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc          | Aya Gold & Silver, Inc.           | CUSIP: N/A<br>LEI: 549300BWX8KJOTUL4M51       | Long             | EC               | CORP              | CA        |    780000 | NS      | $11161123.46  | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Artemis Gold Inc               | Artemis Gold, Inc.                | CUSIP: N/A<br>LEI: 529900GXBX7DGL5YMO49       | Long             | EC               | CORP              | CA        |     40000 | NS      | $1069250.66   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Firefinch Ltd                  | Firefinch, Ltd.                   | CUSIP: N/A<br>LEI: 52990065EGEF8FEI8S51       | Long             | EC               | CORP              | AU        |   5000000 | NS      | $211883.64    | 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      | $991797.94    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Star Royalties Ltd             | Star Royalties, Ltd.              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   3500000 | NS      | $866999.38    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| McEwen Inc                     | McEwen, Inc.                      | CUSIP: N/A<br>LEI: 5493000FX50GEWAF3U70       | Long             | EC               | CORP              | US        |    100000 | NS      | $1856398.67   | 0.67%             |  |  |  | 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      | $1238570.54   | 0.45%             |  |  |  | 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      | $301628.36    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silver X Mining Corp           | Silver X Mining Corp.             | CUSIP: N/A<br>LEI: 894500TOVTJDJJ6WSU81       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $786856.58    | 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      | $138428.47    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Heliostar Metals Ltd           | Heliostar Metals, Ltd.            | CUSIP: N/A<br>LEI: 529900BF6RCFL9WNSB18       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $1843284.40   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Guanajuato Silver Co Ltd       | Guanajuato Silver Co., Ltd.       | CUSIP: N/A<br>LEI: 549300C1VGZKX7N1GH74       | Long             | EC               | CORP              | CA        |    700000 | NS      | $341699.76    | 0.12%             |  |  |  | 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      | $5100.00      | 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      | $216228.19    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Tolu Minerals Ltd              | Tolu Minerals, Ltd.               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | PG        |   3805669 | NS      | $3345571.99   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Versamet Royalties Corp        | Versamet Royalties Corp.          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    250000 | NS      | $2331426.91   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Luca Mining Corp               | Luca Mining Corp.                 | CUSIP: N/A<br>LEI: 875500QZ1JRZS7VYL982       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $2171141.31   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Luca Mining Corp               | Luca Mining Corp.                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    750000 | NC      | $486321.08    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Northam Platinum Holdings Ltd  | Northam Platinum Holdings, Ltd.   | CUSIP: N/A<br>LEI: 3789009D0712C7101695       | Long             | EC               | CORP              | ZA        |     40000 | NS      | $811718.46    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Orexplore Technologies Ltd     | Orexplore Technologies, Ltd.      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1007351 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Empress Royalty Corp           | Empress Royalty Corp.             | CUSIP: N/A<br>LEI: 254900BKH28GZ49I9F93       | Long             | EC               | CORP              | CA        |   2500000 | NS      | $1912498.63   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining PLC           | Endeavour Mining PLC              | CUSIP: N/A<br>LEI: 529900NI5MXQ91GHXR07       | Long             | EC               | CORP              | GB        |     30000 | NS      | $1544861.75   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Silver Corp          | Discovery Silver Corp.            | CUSIP: N/A<br>LEI: 98450041CCB3E8QD3F53       | Long             | EC               | CORP              | CA        |   2050000 | NS      | $12516119.63  | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Andean Precious Metals Corp    | Andean Precious Metals Corp.      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    900000 | NS      | $6399766.86   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| St Barbara Ltd                 | St Barbara, Ltd.                  | CUSIP: N/A<br>LEI: 2549001WR6XSXNOD1F93       | Long             | EC               | CORP              | AU        |    668309 | NS      | $256728.25    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Mako Mining Corp               | Mako Mining Corp.                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    100000 | NS      | $580671.01    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Culico Metals Inc              | Culico Metals, Inc.               | CUSIP: N/A<br>LEI: 2549005B5ATUIJJB6L88       | Long             | EC               | CORP              | CA        |    180000 | NS      | $34097.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mineros SA                     | Mineros SA                        | CUSIP: N/A<br>LEI: 549300991PEKFIGLDE07       | Long             | EC               | CORP              | CO        |   3000000 | NS      | $12283705.51  | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| DPM Metals Inc                 | DPM Metals, Inc.                  | CUSIP: N/A<br>LEI: 549300LATVTU0EIUMD45       | Long             | EC               | CORP              | CA        |    270000 | NS      | $8344614.04   | 3.02%             |  |  |  | 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      | $819642.27    | 0.30%             |  |  |  | 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      | $15482.13     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Leo Lithium Ltd                | Leo Lithium, Ltd.                 | CUSIP: N/A<br>LEI: 984500LD0A57A68EZ677       | Long             | EC               | CORP              | AU        |   3500000 | NS      | $62130.29     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Abaxx Technologies Inc         | Abaxx Technologies, Inc.          | CUSIP: N/A<br>LEI: 5299002EIVMNJ21B5K89       | Long             | EC               | CORP              | CA        |     30000 | NS      | $1114713.49   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Mining Corp               | Aris Mining Corp.                 | CUSIP: N/A<br>LEI: 5493001GJ5TILX6L1F82       | Long             | EC               | CORP              | CA        |    340000 | NS      | $5514116.06   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanaGold Corp                | OceanaGold Corp.                  | CUSIP: N/A<br>LEI: 549300CBMSE8I9N3E232       | Long             | EC               | CORP              | CA        |     50000 | NS      | $1417070.42   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Meeka Metals Ltd               | Meeka Metals, Ltd.                | CUSIP: N/A<br>LEI: 529900KOA7NX3J2DL230       | Long             | EC               | CORP              | AU        |   4666667 | NS      | $818425.68    | 0.30%             |  |  |  | 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      | $127874.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hemlo Mining Corp              | Hemlo Mining Corp.                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    616411 | NS      | $2326333.45   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd            | Catalyst Metals, Ltd.             | CUSIP: N/A<br>LEI: 9845002GB72C3J4A3E64       | Long             | EC               | CORP              | AU        |    100000 | NS      | $486328.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                | Lundin Gold, Inc.                 | CUSIP: N/A<br>LEI: 549300ZOV16K515FC525       | Long             | EC               | CORP              | CA        |     40000 | NS      | $3322866.20   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Royalties Ltd           | Summit Royalties, Ltd.            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1250000 | NS      | $1366070.45   | 0.50%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Americas Gold & Silver Corp    | Americas Gold & Silver Corp.      | CUSIP: N/A<br>LEI: 5493005AKGOT669Z4P51       | Long             | EC               | CORP              | CA        |   1800000 | NS      | $9232450.55   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Elemental Royalty Corp         | Elemental Royalty Corp.           | CUSIP: N/A<br>LEI: 549300BQ0SXPY5XYOH89       | Long             | EC               | CORP              | CA        |    150000 | NS      | $2538705.33   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Santacruz Silver Mining Ltd    | Santacruz Silver Mining, Ltd.     | CUSIP: N/A<br>LEI: 549300KR50UPLTF0XY61       | Long             | EC               | CORP              | CA        |    425000 | NS      | $4096572.07   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Paragon Advanced Labs Inc      | Paragon Advanced Labs, Inc.       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    914430 | NS      | $1858773.60   | 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      | $7432587.97   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                 | K92 Mining, Inc.                  | CUSIP: N/A<br>LEI: 254900EA8H0X9FEVZU11       | Long             | EC               | CORP              | CA        |   1100000 | NS      | $18184401.30  | 6.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc          | Anglogold Ashanti PLC             | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     90000 | NS      | $7675200.00   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Minerals Inc              | Aura Minerals, Inc.               | CUSIP: G06973112<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | VG        |    100000 | NS      | $5041500.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurelion Inc                   | Aurelion, Inc.                    | CUSIP: G7244A119<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    300000 | NS      | $74940.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

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

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer