# EDGAR Filing Document

**Accession Number:** 0000101507
**File Stem:** 0001752724-23-048786
**Filing Date:** 2023-3
**Character Count:** 47139
**Document Hash:** 106eeeb54ebe378e6b80cdc4a774d3ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-048786.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-048786

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** US GLOBAL INVESTORS FUNDS
- **CENTRAL INDEX KEY:** 0000101507
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01800
- **FILM NUMBER:** 23690455

**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 Resources Fund (Series ID: S000004782)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000012993 | Global Resources Fund | PSPFX           |

## 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 RESOURCES FUND

- **b. EDGAR series identifier (if any):** S000004782

- **c. LEI of Series:** 2549001M564NPG8TIZ85

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $55171809.61

**Total Liabilities:** $112743.97

**Net Assets:** $55059065.64

**Cash Not Reported:** $5282700.59

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012993 | 5.21%                | 2.97%                | -4.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1474269.08             | $4549754.05                                |
| Month 2  | $-429940.01              | $2344374.08                                |
| Month 3  | $-642785.12              | $-1691594.88                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lynas Rare Earths Ltd          | Lynas Rare Earths, Ltd.                         | CUSIP: N/A<br>LEI: 529900SGT9M1FJPXXI35       | Long             | EC               | CORP              | AU        |     45000 | NS      | $237218.26    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| I-Pulse, Inc.                  | I-Pulse, Inc.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15971 | NS      | $120740.76    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Corona Minerals, Ltd.          | Corona Minerals, Ltd.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |      5000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Phillips 66                    | Phillips 66                                     | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      4000 | NS      | $416320.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Critical Resources Ltd         | Critical Resources, Ltd.                        | CUSIP: N/A<br>LEI: 529900KP5LRSNKTAI759       | Long             | EC               | CORP              | AU        |   3500000 | NS      | $102498.92    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Bradda Head Lithium Ltd        | Bradda Head Lithium, Ltd.                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |   2000000 | NC      | $0.02         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Group 6 Metals Ltd             | Group 6 Metals, Ltd.                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    800000 | NS      | $94513.44     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| EnviroGold Global Ltd          | EnviroGold Global, Ltd.                         | CUSIP: N/A<br>LEI: 529900510T59OMYN1R06       | Long             | EC               | CORP              | CA        |     75000 | NS      | $9970.46      | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Schlumberger Ltd               | Schlumberger, Ltd.                              | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     12000 | NS      | $641520.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionic Rare Earths Ltd          | Ionic Rare Earths, Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   7500000 | NS      | $166518.92    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Critical Elements Lithium Corp | Critical Elements Lithium Corp.                 | CUSIP: N/A<br>LEI: 529900TYN1Z3I6KKQX25       | Long             | EC               | CORP              | CA        |    400000 | NS      | $611521.42    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| E3 Lithium Ltd                 | E3 Lithium, Ltd.                                | CUSIP: N/A<br>LEI: 52990082J3TRBAE2EA67       | Long             | EC               | CORP              | CA        |    400000 | NS      | $570162.48    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp.                             | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      2500 | NS      | $317150.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsu Metals Corp.              | Orsu Metals Corp.                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |     14761 | NS      | $272.55       | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Arena Minerals Inc             | Arena Minerals, Inc.                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    500000 | NS      | $206794.68    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Energy Corp             | Encore Energy Corp.                             | CUSIP: N/A<br>LEI: 5299007FNX2NVNJM3O59       | Long             | EC               | CORP              | CA        |    300000 | NS      | $709010.34    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                  | The Mosaic Co.                                  | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |      8000 | NS      | $350960.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp      | Occidental Petroleum Corp.                      | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     10000 | NS      | $629900.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver X Mining Corp           | Silver X Mining Corp.                           | CUSIP: N/A<br>LEI: 894500TOVTJDJJ6WSU81       | Long             | EC               | CORP              | CA        |    355000 | NS      | $99630.72     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nio Strategic Metals Inc       | Nio Strategic Metals, Inc.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   3687069 | NS      | $170193.36    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                   | Rayonier, Inc.                                  | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |     15000 | NS      | $494400.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                    | Equinor ASA                                     | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |     25000 | NS      | $895250.00    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Filo Mining Corp               | Filo Mining Corp.                               | CUSIP: N/A<br>LEI: 54930049JO3VWJU1B514       | Long             | EC               | CORP              | CA        |    310000 | NS      | $5320827.18   | 9.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ABAXX TECHNOLOGIES IN          | Abaxx Technologies, Inc.                        | CUSIP: N/A<br>LEI: 5299002EIVMNJ21B5K89       | N/A              | DE               | CORP              | CA        |     20437 | NC      | $10112.84     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Galway Metals Inc              | Galway Metals, Inc.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    500000 | NS      | $83087.15     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Lithium Inc           | Piedmont Lithium, Inc.                          | CUSIP: 72016P105<br>LEI: 254900QJ73581MY1JN11 | Long             | EC               | CORP              | US        |     10000 | NS      | $440200.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Resources Inc        | Churchill Resources, Inc.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    599587 | NS      | $42068.52     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Green Energy Corp.     | Pacific Green Energy Corp.                      | CUSIP: N/A<br>LEI: 6X064LF7Y6B4DKF2GZ26       | Long             | EC               | CORP              | US        |   2400000 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Base Carbon Inc                | Base Carbon, Inc.                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1000000 | NS      | $369276.22    | 0.67%             |  |  |  | No            |                  3 | On Loan: No      |
| Viper Energy Partners LP       | Viper Energy Partners LP                        | CUSIP: 92763M105<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |     20000 | NS      | $635800.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixton Metals Corp            | Brixton Metals Corp.                            | CUSIP: N/A<br>LEI: 254900N5DFREO3U52485       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $443131.46    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIS MINING CORP               | Aris Mining Corp.                               | CUSIP: N/A<br>LEI: 5493001GJ5TILX6L1F82       | N/A              | DE               | CORP              | CA        |    370889 | NC      | $72589.06     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co.                                 | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     20000 | NS      | $787000.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Talon Metals Corp              | Talon Metals Corp.                              | CUSIP: N/A<br>LEI: 9845003F1E9496A9MA60       | Long             | EC               | CORP              | VG        |    500000 | NS      | $182791.73    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Arizona Sonoran Copper Co Inc  | Arizona Sonoran Copper Co., Inc.                | CUSIP: N/A<br>LEI: 549300C8J16JPSINEM53       | Long             | EC               | CORP              | CA        |    400000 | NS      | $567208.27    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Stone Minerals LP        | Black Stone Minerals LP                         | CUSIP: 09225M101<br>LEI: N/A                  | Long             |  | CORP              | US        |     85000 | NS      | $1433950.00   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano One Materials Corp        | Nano One Materials Corp.                        | CUSIP: N/A<br>LEI: 549300WY1QJ560JAB909       | Long             | EC               | CORP              | CA        |    275000 | NS      | $495568.69    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy, Inc.                           | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      7500 | NS      | $1124700.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Base Carbon Inc                | Base Carbon, Inc.                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     71428 | NS      | $26376.85     | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Arianne Phosphate Inc          | Arianne Phosphate, Inc.                         | CUSIP: N/A<br>LEI: 529900DVDSAMX5UW9I19       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $265878.88    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Flying Nickle Mining Corp      | Flying Nickle Mining Corp.                      | CUSIP: 34408W114<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    150000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Morella Corp Ltd               | Morella Corp., Ltd.                             | CUSIP: N/A<br>LEI: 5299007XFVQVLJE9JS63       | Long             | EC               | CORP              | AU        |  13333334 | NS      | $108727.23    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| 5E Advanced Materials Inc      | 5E Advanced Materials, Inc.                     | CUSIP: N/A<br>LEI: 254900H5C60Y146YOH74       | Long             | EC               | CORP              | US        |    425000 | NS      | $341735.42    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Lucara Diamond Corp            | Lucara Diamond Corp.                            | CUSIP: N/A<br>LEI: 549300GGHEV7KQEE8R10       | Long             | EC               | CORP              | CA        |    300000 | NS      | $110782.87    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Lithium Ltd           | Standard Lithium, Ltd.                          | CUSIP: 853606101<br>LEI: 549300LA4BSHAKT4SL33 | Long             | EC               | CORP              | CA        |     75000 | NS      | $221250.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Graphite Corp         | Northern Graphite Corp.                         | CUSIP: N/A<br>LEI: 529900OUPY3FCWZYXT60       | Long             | EC               | CORP              | CA        |    675000 | NS      | $241783.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Chakana Copper Corp.           | Chakana Copper Corp.                            | CUSIP: N/A<br>LEI: 549300265UHKA4LQUT66       | Long             | EC               | CORP              | CA        |    483494 | NS      | $32137.71     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Centaurus Metals Ltd           | Centaurus Metals, Ltd.                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1500000 | NS      | $1136779.39   | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GoviEx Uranium Inc             | GoviEx Uranium, Inc.                            | CUSIP: N/A<br>LEI: 5299001I7FX6JUNIPU44       | Long             | EC               | CORP              | CA        |     58000 | NS      | $7710.49      | 0.01%             |  |  |  | Yes           |                  1 | On Loan: No      |
| K92 Mining Inc                 | K92 Mining, Inc.                                | CUSIP: N/A<br>LEI: 254900EA8H0X9FEVZU11       | Long             | EC               | CORP              | CA        |    100000 | NS      | $566469.72    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Revival Gold Inc               | Revival Gold, Inc.                              | CUSIP: N/A<br>LEI: 529900X2G2T7XSIDUH63       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $472673.56    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Premium Nickel Resources Ltd   | Premium Nickel Resources, Ltd.                  | CUSIP: N/A<br>LEI: 98450011DCDA2I8DC204       | Long             | EC               | CORP              | CA        |    250000 | NS      | $295420.97    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Atlas Resources Inc    | Western Atlas Resources, Inc.                   | CUSIP: N/A<br>LEI: 5493004W43GXYETF2896       | Long             | EC               | CORP              | CA        |   3000000 | NS      | $83087.15     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Polarx, Ltd.                   | Polarx, Ltd.                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |  20700000 | NS      | $274176.85    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Electra Battery Materials Corp | Electra Battery Materials Corp.                 | CUSIP: N/A<br>LEI: 5493009ZPOP6FTZAUU15       | Long             | EC               | CORP              | CA        |    138889 | NS      | $230797.64    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Defense Metals Corp            | Defense Metals Corp.                            | CUSIP: N/A<br>LEI: 54930072WL7JZREIPD69       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $310192.02    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                   | Newmont Corp.                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       420 | NC      | $420.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Growth Holdings L | Consolidated Growth Holdings, Ltd.              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |  19859173 | NS      | $0.24         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Fox River Resources Corp       | Fox River Resources Corp.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1000000 | NS      | $125553.91    | 0.23%             |  |  |  | No            |                  3 | On Loan: No      |
| SOURCE ROCK ROYALTIES LTD      | Source Rock Royalties, Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   1250000 | NC      | $41543.57     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Air Metals Inc           | Clean Air Metals, Inc.                          | CUSIP: N/A<br>LEI: 529900KCA9AST2PK7R19       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $96011.82     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfden Resources Corp         | Wolfden Resources Corp.                         | CUSIP: N/A<br>LEI: 529900E4PMQNSC4DMV56       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $138478.58    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver Tiger Metals Inc        | Silver Tiger Metals, Inc.                       | CUSIP: N/A<br>LEI: 2549009QDIU00MWT6U57       | Long             | EC               | CORP              | CA        |    750000 | NS      | $152326.44    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ion Energy Ltd                 | Ion Energy, Ltd.                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    225000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NG Energy International Corp.  | NG Energy International Corp.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    200000 | NS      | $140324.96    | 0.25%             |  |  |  | Yes           |                  1 | On Loan: No      |
| First Helium Inc               | First Helium, Inc.                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    925000 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Zinc8 Energy Solutions Inc     | Zinc8 Energy Solutions, Inc.                    | CUSIP: N/A<br>LEI: 529900NP1XZC3TND7714       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $132939.44    | 0.24%             |  |  |  | No            |                  3 | On Loan: No      |
| OceanaGold Corp                | OceanaGold Corp.                                | CUSIP: N/A<br>LEI: 549300CBMSE8I9N3E232       | Long             | EC               | CORP              | CA        |    125000 | NS      | $238183.16    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Silver Corp             | Vizsla Silver Corp.                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     62500 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sabine Royalty Trust           | Sabine Royalty Trust                            | CUSIP: 785688102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26500 | NS      | $2264425.00   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kutcho Copper Corp             | Kutcho Copper Corp.                             | CUSIP: N/A<br>LEI: 984500686CF49F91B703       | Long             | EC               | CORP              | CA        |    850000 | NS      | $141248.15    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastructure Ventures, Inc.  | Infrastructure Ventures, Inc.                   | CUSIP: N/A<br>LEI: 549300M8ZYFG0OCMTT87       | Long             | EC               | CORP              | US        |   2743544 | NS      | $0.03         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| West Fraser Timber Co Ltd      | West Fraser Timber Co., Ltd.                    | CUSIP: N/A<br>LEI: 5493005WD1ZK6WBVR988       | Long             | EC               | CORP              | CA        |      4000 | NS      | $288833.09    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Direxion Daily Gold Miners Index Bull 2X Shares | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |        75 | NC      | $1050.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Freehold Royalties Ltd         | Freehold Royalties, Ltd.                        | CUSIP: N/A<br>LEI: 529900KRYLKJ2WW87P48       | Long             | EC               | CORP              | CA        |     45000 | NS      | $526107.83    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| New Stratus Energy Inc         | New Stratus Energy, Inc.                        | CUSIP: N/A<br>LEI: 549300XBOLDOJKNWCO54       | Long             | EC               | CORP              | CA        |   1888500 | NS      | $251056.13    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Gold Corp              | Barrick Gold Corp.                              | CUSIP: 70F99AUF1<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      1674 | NC      | $46872.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIS MINING CORP               | Aris Gold Corp.                                 | CUSIP: 04041BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    971131 | PA      | $958991.86    | 1.74%             | 2027-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Salazar Resources Ltd          | Salazar Resources, Ltd.                         | CUSIP: N/A<br>LEI: 254900WASDCCMF1KIX08       | Long             | EC               | CORP              | CA        |   3000000 | NS      | $276957.16    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NG Energy International Corp   | NG Energy International Corp.                   | CUSIP: 62931JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    750000 | PA      | $553914.33    | 1.01%             | 2027-04-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Lithium Americas Corp          | Lithium Americas Corp.                          | CUSIP: N/A<br>LEI: 529900Q9ENG7EHHZ5R75       | Long             | EC               | CORP              | CA        |     15000 | NS      | $284379.62    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc     | CF Industries Holdings, Inc.                    | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      4000 | NS      | $340800.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Mene Inc                       | Mene, Inc.                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    750000 | NS      | $276957.16    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp            | PotlatchDeltic Corp.                            | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |     10000 | NS      | $439900.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Topaz Energy Corp              | Topaz Energy Corp.                              | CUSIP: N/A<br>LEI: 5493008M0TDGJOBY9122       | Long             | EC               | CORP              | CA        |     15000 | NS      | $234084.19    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Road Minerals Ltd        | Royal Road Minerals, Ltd.                       | CUSIP: N/A<br>LEI: 54930033JDODZL6J2G22       | Long             | EC               | CORP              | JE        |   5500000 | NS      | $467134.42    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc / US      | Ivanhoe Electric, Inc./US                       | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7002 | NS      | $85074.30     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Burcon NutraScience Corp       | Burcon NutraScience Corp.                       | CUSIP: N/A<br>LEI: 391200FXBJCM5THDSO98       | Long             | EC               | CORP              | CA        |    500000 | NS      | $142171.34    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Leo Lithium Ltd                | Leo Lithium, Ltd.                               | CUSIP: N/A<br>LEI: 984500LD0A57A68EZ677       | Long             | EC               | CORP              | AU        |    822649 | NS      | $269609.51    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Contango Holdings PLC          | Contango Holdings PLC                           | CUSIP: N/A<br>LEI: 213800HZ69B3QHCUGX36       | Long             | EC               | CORP              | GB        |  10602248 | NS      | $668168.09    | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Barksdale Resources Corp.      | Barksdale Resources Corp.                       | CUSIP: N/A<br>LEI: 549300JSC30UXM5OSU40       | Long             | EC               | CORP              | CA        |   1300000 | NS      | $739290.99    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NG Energy International Corp   | NG Energy International Corp.                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    300000 | NC      | $34342.69     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NorZinc Ltd                    | Norzinc, Ltd.                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   2500000 | NC      | $0.02         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hecla Mining Co                | Hecla Mining Co.                                | CUSIP: 4Z0997DE2<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       630 | NC      | $42525.00     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Ivanhoe Mines Ltd              | Ivanhoe Mines, Ltd.                             | CUSIP: N/A<br>LEI: 5299006XZISURYIA4G32       | Long             | EC               | CORP              | CA        |    450000 | NS      | $3556129.99   | 6.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                       | CUSIP: G5494J103<br>LEI: 8945002PAZHZLBGKGF02 | Long             | EC               | CORP              | IE        |      2000 | NS      | $652360.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc             | Liberty Energy, Inc.                            | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $320200.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Silver Corp             | Vizsla Silver Corp.                             | CUSIP: N/A<br>LEI: 549300ADJF7HWIEDL366       | Long             | EC               | CORP              | CA        |    125000 | NS      | $143094.53    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Firefinch Ltd                  | Firefinch, Ltd.                                 | CUSIP: N/A<br>LEI: 52990065EGEF8FEI8S51       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $95319.02     | 0.17%             |  |  |  | No            |                  3 | On Loan: No      |
| Lithium Ionic Corp             | Lithium Ionic Corp.                             | CUSIP: N/A<br>LEI: 254900QM9LUYEDJ76V87       | Long             | EC               | CORP              | CA        |    750000 | NS      | $897341.21    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ion Energy Ltd                 | Ion Energy, Ltd.                                | CUSIP: N/A<br>LEI: 549300WY6VWUACSBHF20       | Long             | EC               | CORP              | CA        |    225000 | NS      | $32403.99     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vox Royalty Corp               | Vox Royalty Corp.                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     70000 | NS      | $162333.83    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nova Royalty Corp              | Nova Royalty Corp.                              | CUSIP: N/A<br>LEI: 984500936EVAY6PDGC30       | Long             | EC               | CORP              | CA        |    500000 | NS      | $557607.09    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nova Minerals Ltd              | Nova Minerals, Ltd.                             | CUSIP: N/A<br>LEI: 529900JYOG0H83J30278       | Long             | EC               | CORP              | AU        |    500000 | NS      | $230133.13    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Bell Copper Corp               | Bell Copper Corp.                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1000000 | NS      | $96011.82     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Wide Open Agriculture Ltd      | Wide Open Agriculture, Ltd.                     | CUSIP: N/A<br>LEI: 875500ZPHJC0Y2OKR195       | Long             | EC               | CORP              | AU        |   2000000 | NS      | $259311.31    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Sterling Group Ventures Inc    | Sterling Group Ventures, Inc.                   | CUSIP: 85932R104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    500000 | NS      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Euro Manganese Inc             | Euro Manganese, Inc.                            | CUSIP: N/A<br>LEI: 8945004U4YI3514BYN42       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $240859.59    | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                                  | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      5000 | NS      | $590000.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp.                         | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      5000 | NS      | $296000.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| VR Resources, Ltd.             | VR Resources, Ltd.                              | CUSIP: 91831M105<br>LEI: 529900RR5LC80PRJF571 | Long             | EC               | CORP              | CA        |   1000000 | NS      | $84933.53     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PrairieSky Royalty Ltd         | PrairieSky Royalty, Ltd.                        | CUSIP: N/A<br>LEI: 529900AXG582AP7CV733       | Long             | EC               | CORP              | CA        |     15000 | NS      | $240398.82    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimbell Royalty Partners LP    | Kimbell Royalty Partners LP                     | CUSIP: 49435R102<br>LEI: 5493007FC11POVYRB841 | Long             | EC               | CORP              | US        |     55000 | NS      | $918500.00    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bradda Head Lithium Ltd        | Bradda Head Lithium, Ltd.                       | CUSIP: N/A<br>LEI: 213800T879QQXKR2WN54       | Long             | EC               | CORP              | VG        |   2000000 | NS      | $198884.38    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Energy Fuels Inc/Canada        | Energy Fuels, Inc./Canada                       | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |     80000 | NS      | $496800.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| InZinc Mining Ltd              | InZinc Mining, Ltd.                             | CUSIP: N/A<br>LEI: 529900SQMNKF5EXPGG60       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $36927.62     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sovereign Metals Ltd           | Sovereign Metals, Ltd.                          | CUSIP: N/A<br>LEI: 213800NSPXSASTENFQ34       | Long             | EC               | CORP              | AU        |    600000 | NS      | $162433.41    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| NanoXplore Inc                 | NanoXplore, Inc.                                | CUSIP: N/A<br>LEI: 254900UCLLYB72ONDB31       | Long             | EC               | CORP              | CA        |    550000 | NS      | $1056129.99   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Caribbean Resources Corp.      | Caribbean Resources Corp.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |        17 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Abaxx Technologies Inc         | Abaxx Technologies, Inc.                        | CUSIP: N/A<br>LEI: 5299002EIVMNJ21B5K89       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $1846381.09   | 3.35%             |  |  |  | No            |                  3 | On Loan: No      |
| Range Resources Corp           | Range Resources Corp.                           | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     20000 | NS      | $500400.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Gold Corp              | Barrick Gold Corp.                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      1102 | NC      | $1102.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastructure Ventures, Inc.  | Infrastructure Ventures, Inc.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   4700000 | NS      | $0.05         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Niocan Inc                     | Nio Strategic Metals, Inc.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   1662500 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sovereign Metals Ltd           | Sovereign Metals, Ltd.                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | AU        |    300000 | NC      | $0.20         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nutrien Ltd                    | Nutrien, Ltd.                                   | CUSIP: N/A<br>LEI: 5493002QQ7GD21OWF963       | Long             | EC               | CORP              | CA        |      4000 | NS      | $292023.63    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Cordoba Minerals Corp          | Cordoba Minerals Corp.                          | CUSIP: N/A<br>LEI: 529900JMZSEJCKFG2443       | Long             | EC               | CORP              | CA        |     58823 | NS      | $23676.91     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Deterra Royalties Ltd          | Deterra Royalties, Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    200000 | NS      | $619277.73    | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp.                              | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     30000 | NS      | $573600.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Source Rock Royalties Ltd      | Source Rock Royalties, Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    500000 | NS      | $280649.93    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nubian Resources Ltd           | Nubian Resources, Ltd.                          | CUSIP: N/A<br>LEI: 254900P740G3691PD419       | Long             | EC               | CORP              | CA        |    250000 | NS      | $20310.19     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Solar Inc             | Canadian Solar, Inc.                            | CUSIP: 136635109<br>LEI: 5493001XSC6TKMBVOM15 | Long             | EC               | CORP              | CA        |     10000 | NS      | $309000.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

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

**Signature:** /s/ Karen Shaw

**Name of Signer:** Karen Shaw

**Title:** Treasurer