# EDGAR Filing Document

**Accession Number:** 0000101507
**File Stem:** 0000101507-25-000040
**Filing Date:** 2025-8
**Character Count:** 23622
**Document Hash:** c2d54f01cfb57edf63d6cdb4161b9c7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000101507-25-000040.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0000101507-25-000040

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**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:** 251241322

**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

### Global Luxury Goods Fund (Series ID: S000023574)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000069385 | Global Luxury Goods Fund | USLUX           |

## 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 GLOBAL LUXURY GOODS FUND

- **b. EDGAR series identifier (if any):** S000023574

- **c. LEI of Series:** 254900P0NNQNKUTFN386

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $50997730.18

**Total Liabilities:** $67117.87

**Net Assets:** $50930612.31

**Cash Not Reported:** $2735802.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069385 | 1.85%                | 6.42%                | 1.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-163330.86              | $1134941.29                                |
| Month 2  | $486996.99               | $2286773.10                                |
| Month 3  | $36577.54                | $426890.48                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| adidas AG                      | adidas AG                            | CUSIP: 00687A107<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |     12000 | NS      | $1404240.00   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com, Inc.                     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      3125 | NS      | $685593.75    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                     | Diageo PLC                           | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               | CORP              | GB        |     53000 | NS      | $1336453.39   | 2.62%             |  |  |  | No            |                  2 | On Loan: No      |
| ARIS MINING CORP               | Aris Gold Corp.                      | CUSIP: 04041BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    435846 | PA      | $849899.70    | 1.67%             | 2027-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Carnival Corp                  | Carnival Corp.                       | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     86000 | NS      | $2418320.00   | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastructure Ventures, Inc.  | Infrastructure Ventures, Inc.        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    426533 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Constellation Brands Inc       | Constellation Brands, Inc.           | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |      1800 | NS      | $292824.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG         | Mercedes-Benz Group AG               | CUSIP: 233825207<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |    141200 | NS      | $2043164.00   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Green Energy Corp.     | Pacific Green Energy Corp.           | CUSIP: N/A<br>LEI: 6X064LF7Y6B4DKF2GZ26       | Long             | EC               | CORP              | US        |    100000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NG Energy International Corp.  | NG Energy International Corp.        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     50000 | NS      | $31944.19     | 0.06%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Franco-Nevada Corp             | Franco-Nevada Corp.                  | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      1980 | NS      | $324561.60    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | The Goldman Sachs Group, Inc.        | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      2525 | NS      | $1787068.75   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Christian Dior SE              | Christian Dior SE                    | CUSIP: N/A<br>LEI: 969500WESYQMQ1F2C272       | Long             | EC               | CORP              | FR        |       585 | NS      | $293134.77    | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Worldwide Holdings Inc  | Hilton Worldwide Holdings, Inc.      | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |      5150 | NS      | $1371651.00   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Pernod Ricard SA               | Pernod Ricard SA                     | CUSIP: N/A<br>LEI: 52990097YFPX9J0H5D87       | Long             | EC               | CORP              | FR        |      1000 | NS      | $99751.41     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Remy Cointreau SA              | Remy Cointreau SA                    | CUSIP: N/A<br>LEI: 5493004V6A3Z027YT216       | Long             | EC               | CORP              | FR        |      5700 | NS      | $291349.80    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Kering SA                      | Kering SA                            | CUSIP: 492089107<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |     29200 | NS      | $636268.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                     | L'Oreal SA                           | CUSIP: 502117203<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |      7450 | NS      | $637049.50    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitt | LVMH Moet Hennessy Louis Vuitton SE  | CUSIP: 502441306<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     19441 | NS      | $2042471.46   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Estee Lauder Cos Inc/The       | The Estee Lauder Cos., Inc.          | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |      9500 | NS      | $767600.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International SCA       | Hermes International SCA             | CUSIP: N/A<br>LEI: 969500Y4IJGHJE2MTJ13       | Long             | EC               | CORP              | FR        |      1298 | NS      | $3518705.74   | 6.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Life Time Group Holdings Inc   | Life Time Group Holdings, Inc.       | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33600 | NS      | $1019088.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Deckers Outdoor Corp.                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |        75 | NC      | $75.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Volkswagen AG                  | Volkswagen AG                        | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31       | Long             | EC               | CORP              | DE        |     16760 | NS      | $1812769.55   | 3.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Lululemon Athletica Inc        | Lululemon Athletica, Inc.            | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      3200 | NS      | $760256.00    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International      | MGM Resorts International            | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |      4000 | NS      | $137560.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Tesla, Inc.                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       -50 | NC      | $-900.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Tesla, Inc.                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |        50 | NC      | $900.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Regis Resources Ltd            | Regis Resources, Ltd.                | CUSIP: N/A<br>LEI: 213800XH9YUXBLYBD749       | Long             | EC               | CORP              | AU        |    107000 | NS      | $314052.30    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Ramelius Resources Ltd         | Ramelius Resources, Ltd.             | CUSIP: N/A<br>LEI: 254900E44AIGW7KKNR98       | Long             | EC               | CORP              | AU        |    260000 | NS      | $437808.27    | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Trust Corp            | Northern Trust Corp.                 | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     10450 | NS      | $1324955.50   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc               | OR Royalties, Inc.                   | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |      7700 | NS      | $197967.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                 | Royal Gold, Inc.                     | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      1530 | NS      | $272095.20    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercorp Metals Inc          | Silvercorp Metals, Inc.              | CUSIP: 82835P103<br>LEI: 52990092RT3UCQ7G3177 | Long             | EC               | CORP              | CA        |     70000 | NS      | $295400.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                   | Tapestry, Inc.                       | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |      6500 | NS      | $570765.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla, Inc.                          | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      7840 | NS      | $2490454.40   | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc              | Toll Brothers, Inc.                  | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      4350 | NS      | $496465.50    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| VF Corp                        | VF Corp.                             | CUSIP: 918204108<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | EC               | CORP              | US        |     11000 | NS      | $129250.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp   | Wheaton Precious Metals Corp.        | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |      3500 | NS      | $314300.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Dundee Precious Metals Inc     | Dundee Precious Metals, Inc.         | CUSIP: N/A<br>LEI: 549300LATVTU0EIUMD45       | Long             | EC               | CORP              | CA        |      6200 | NS      | $99618.87     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd            | Catalyst Metals, Ltd.                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     70000 | NS      | $242287.46    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| MGM China Holdings Ltd         | MGM China Holdings, Ltd.             | CUSIP: N/A<br>LEI: 529900VZFN87OS7WJM66       | Long             | EC               | CORP              | KY        |     40000 | NS      | $65767.34     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| PRADA SpA                      | PRADA SpA                            | CUSIP: N/A<br>LEI: 8156000FE0A2DC5B7852       | Long             | EC               | CORP              | IT        |     22000 | NS      | $136676.11    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Julius Baer Group Ltd          | Julius Baer Group, Ltd.              | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |      3700 | NS      | $250988.92    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Brunello Cucinelli SpA         | Brunello Cucinelli SpA               | CUSIP: N/A<br>LEI: 5493003CX2RZ0FOBH256       | Long             | EC               | CORP              | IT        |      6950 | NS      | $843750.49    | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| HUGO BOSS AG                   | HUGO BOSS AG                         | CUSIP: N/A<br>LEI: 529900LFVU534EBRXD13       | Long             | EC               | CORP              | DE        |     10276 | NS      | $476158.75    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Financiere Richemont SA    | Cie Financiere Richemont SA          | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |      8930 | NS      | $1689849.59   | 3.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Moncler SpA                    | Moncler SpA                          | CUSIP: N/A<br>LEI: 815600EBD7FB00525B20       | Long             | EC               | CORP              | IT        |     25300 | NS      | $1443151.18   | 2.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Lendified Holdings Inc         | Lendified Holdings, Inc.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1116560 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Davide Campari-Milano NV       | Davide Campari-Milano NV             | CUSIP: N/A<br>LEI: 213800ED5AN2J56N6Z02       | Long             | EC               | CORP              | NL        |     16300 | NS      | $109737.49    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Industria de Diseno Textil SA  | Industria de Diseno Textil SA        | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |     38200 | NS      | $1992771.05   | 3.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Zalando SE                     | Zalando SE                           | CUSIP: N/A<br>LEI: 529900YRFFGH5AXU4S86       | Long             | EC               | CORP              | DE        |     28700 | NS      | $947024.07    | 1.86%             |  |  |  | Yes           |                  2 | On Loan: No      |
| OceanaGold Corp                | OceanaGold Corp.                     | CUSIP: N/A<br>LEI: 549300CBMSE8I9N3E232       | Long             | EC               | CORP              | CA        |      8333 | NS      | $117613.56    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra Resources Corp         | Integra Resources Corp.              | CUSIP: N/A<br>LEI: 529900MC191X8CY3P306       | Long             | EC               | CORP              | CA        |    150000 | NS      | $225000.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Gold Corp               | Allied Gold Corp.                    | CUSIP: N/A<br>LEI: 894500S5G4JFSRGK8L37       | Long             | EC               | CORP              | CA        |      8200 | NS      | $110076.01    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Laopu Gold Co Ltd              | Laopu Gold Co., Ltd.                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |      4800 | NS      | $618421.85    | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Orla Mining Ltd                | Orla Mining, Ltd.                    | CUSIP: N/A<br>LEI: 529900DU63EUQ1UZKL30       | Long             | EC               | CORP              | CA        |     23000 | NS      | $231055.63    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Norwegian Cruise Line Holdings | Norwegian Cruise Line Holdings, Ltd. | CUSIP: G66721104<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     24000 | NS      | $486720.00    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                  | On Holding AG                        | CUSIP: H5919C104<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |      8650 | NS      | $450232.50    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Birkenstock Holding Plc        | Birkenstock Holding PLC              | CUSIP: M2029K104<br>LEI: 529900CQ8LQKQ7LIT631 | Long             | EC               | CORP              | JE        |     17500 | NS      | $860650.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                     | Ferrari NV                           | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |      5485 | NS      | $2691708.90   | 5.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd    | Royal Caribbean Cruises, Ltd.        | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |      7855 | NS      | $2459714.70   | 4.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-21

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

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer