# EDGAR Filing Document

**Accession Number:** 0000101507
**File Stem:** 0000101507-26-000038
**Filing Date:** 2026-2
**Character Count:** 56080
**Document Hash:** 639cc343f71db617d50da07af107a3e2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000101507-26-000038.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000101507-26-000038

**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:** 26701330

**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

### World Precious Minerals Fund (Series ID: S000004784)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000012995 | World Precious Minerals Fund | UNWPX           |

## 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 WORLD PRECIOUS MINERALS FUND

- **b. EDGAR series identifier (if any):** S000004784

- **c. LEI of Series:** 254900VHFCA926PWYI69

**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:** $76266607.73

**Total Liabilities:** $335176.11

**Net Assets:** $75931431.62

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012995 | -1.67%               | 8.84%                | 9.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1781481.90              | $-2834500.94                               |
| Month 2  | $-361914.78              | $6316893.11                                |
| Month 3  | $344083.03               | $6038886.55                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARIS MINING CORP                    | Aris Gold Corp.                       | CUSIP: 04041BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    417050 | PA      | $1146887.50   | 1.51%             | 2027-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Barrick Mining Corp                 | Barrick Mining Corp.                  | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     15000 | NS      | $653250.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Sky Energy Corp                 | Big Sky Energy Corp.                  | CUSIP: 089544100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2000000 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Coeur Mining Inc                    | Coeur Mining, Inc.                    | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |     15000 | NS      | $267450.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Orosur Mining Inc                   | Orosur Mining, Inc.                   | CUSIP: N/A<br>LEI: 213800CRYQM3M8G1OI19       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $324214.05    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Orosur Mining Inc                   | Orosur Mining, Inc.                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    375000 | NC      | $53276.75     | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Gossan Resources Ltd                | Gossan Resources, Ltd.                | CUSIP: N/A<br>LEI: 549300ICT0SQ86XQCV41       | Long             | EC               | CORP              | CA        |   1250000 | NS      | $31874.98     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Radisson Mining Resources, Inc.     | Radisson Mining Resources, Inc.       | CUSIP: N/A<br>LEI: 2549002XQYEDHG3FTL96       | Long             | EC               | CORP              | CA        |   8375000 | NS      | $5491603.22   | 7.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Silver Corp               | Endeavour Silver Corp.                | CUSIP: N/A<br>LEI: 549300IF2E29780PPV02       | Long             | EC               | CORP              | CA        |     40000 | NS      | $376234.02    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Freegold Ventures Ltd               | Freegold Ventures, Ltd.               | CUSIP: N/A<br>LEI: 5493007YVOKHJP7J0X86       | Long             | EC               | CORP              | CA        |    150000 | NS      | $175949.87    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Freegold Ventures Ltd               | Freegold Ventures, Ltd.               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    150000 | NC      | $119121.34    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Taurus Gold, Ltd.                   | Taurus Gold, Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   2448381 | NS      | $0.02         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CopperBank Resources Corp.          | Faraday Copper Corp.                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     43500 | NS      | $86521.44     | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Caribbean Resources Corp            | Caribbean Resources Corp.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    505453 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Hycroft Mining Holding Corp         | Hycroft Mining Holding Corp.          | CUSIP: 44862P208<br>LEI: 254900T7FYMGS29WIF55 | Long             | EC               | CORP              | US        |     10000 | NS      | $237700.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt      | Metalla Royalty & Streaming, Ltd.     | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |     35000 | NS      | $272300.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc                    | OR Royalties, Inc.                    | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |     10000 | NS      | $353900.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Gold Nevada Corp          | Paramount Gold Nevada Corp.           | CUSIP: 69924M109<br>LEI: 5493000CWEBEVDLIW256 | Long             | EC               | CORP              | US        |    170000 | NS      | $214200.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Perpetua Resources Corp             | Perpetua Resources Corp.              | CUSIP: 714266103<br>LEI: 529900BQBMS383SEPY05 | Long             | EC               | CORP              | CA        |      7000 | NS      | $169470.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Seabridge Gold Inc                  | Seabridge Gold, Inc.                  | CUSIP: 811916105<br>LEI: 9845003FEO1A66376A92 | Long             | EC               | CORP              | CA        |     20000 | NS      | $591800.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Solitario Resources Corp            | Solitario Resources Corp.             | CUSIP: 8342EP107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    310000 | NS      | $216008.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsu Metals Corp.                   | Orsu Metals Corp.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |    186922 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TDG Gold Corp                       | TDG Gold Corp.                        | CUSIP: 87190J113<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    115000 | NC      | $48595.68     | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Triple Flag Precious Metals Co      | Triple Flag Precious Metals Corp.     | CUSIP: 89679M104<br>LEI: 254900R7NJ1TEYIM4E61 | Long             | EC               | CORP              | CA        |      5000 | NS      | $166100.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                 | Arizona Copper and Gold, Ltd.         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    100000 | NS      | $87428.51     | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Radius Gold Inc                     | Radius Gold, Inc.                     | CUSIP: N/A<br>LEI: 529900949NR8LXWUNB56       | Long             | EC               | CORP              | CA        |    125000 | NS      | $12749.99     | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Cartier Resources Inc               | Cartier Resources, Inc.               | CUSIP: N/A<br>LEI: 529900UC5WFH8T7VID35       | Long             | EC               | CORP              | CA        |    750000 | NS      | $136607.05    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurion Resources Ltd                | Aurion Resources, Ltd.                | CUSIP: N/A<br>LEI: 529900TLK415XYT5YM22       | Long             | EC               | CORP              | CA        |    450000 | NS      | $442606.83    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Minaurum Gold Inc                   | Minaurum Gold, Inc.                   | CUSIP: B3K42Y0W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    250000 | NC      | $12749.99     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Summit Gold Ltd                     | Summit Gold, Ltd.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |     10000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Asante Gold Corp                    | Asante Gold Corp.                     | CUSIP: N/A<br>LEI: 529900F9PV1G9S5YD446       | Long             | EC               | CORP              | CA        |    145000 | NS      | $174310.59    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TriStar Gold, Inc.                  | TriStar Gold, Inc.                    | CUSIP: N/A<br>LEI: 5299008HX5259QFD0E46       | Long             | EC               | CORP              | CA        |  30225000 | NS      | $4514316.42   | 5.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexoptic Technology Corp            | Nexoptic Technology Corp.             | CUSIP: N/A<br>LEI: 529900HHVXUHPWU53I46       | Long             | EC               | CORP              | CA        |     12083 | NS      | $110.04       | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Torex Gold Resources Inc            | Torex Gold Resources, Inc.            | CUSIP: N/A<br>LEI: 549300QL07027186GQ85       | Long             | EC               | CORP              | CA        |     10000 | NS      | $477505.37    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Mines Ltd                   | Ivanhoe Mines, Ltd.                   | CUSIP: N/A<br>LEI: 5299006XZISURYIA4G32       | Long             | EC               | CORP              | CA        |     10000 | NS      | $113729.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallic Minerals Corp              | Metallic Minerals Corp.               | CUSIP: N/A<br>LEI: 254900CS1IQU1MD3P979       | Long             | EC               | CORP              | CA        |   1000500 | NS      | $244193.29    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallic Minerals Corp              | Metallic Minerals Corp.               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    220000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Viva Gold Corp                      | Viva Gold Corp.                       | CUSIP: N/A<br>LEI: 549300CWOCMDUYBF9W35       | Long             | EC               | CORP              | CA        |    470000 | NS      | $65061.38     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Revival Gold Inc                    | Revival Gold, Inc.                    | CUSIP: N/A<br>LEI: 529900X2G2T7XSIDUH63       | Long             | EC               | CORP              | CA        |   1908400 | NS      | $959379.26    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Revival Gold Inc                    | Revival Gold, Inc.                    | CUSIP: BF5RGT1W3<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |     50000 | NC      | $8742.85      | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Compass Gold Corp                   | Compass Gold Corp.                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1975000 | NS      | $237423.04    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Cat Syndicate Ltd             | Black Cat Syndicate, Ltd.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   2500000 | NS      | $2050629.84   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Mene Inc                            | Mene, Inc.                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   2115000 | NS      | $231139.12    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Roscan Gold Corp                    | Roscan Gold Corp.                     | CUSIP: N/A<br>LEI: 529900PPYSZDZGPLMU18       | Long             | EC               | CORP              | CA        |   1500000 | NS      | $163928.45    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| African Gold Ltd                    | African Gold, Ltd.                    | CUSIP: N/A<br>LEI: 984500E8DA1DE9A0D939       | Long             | EC               | CORP              | AU        |   1500000 | NS      | $657017.79    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Callinex Mines Inc                  | Visionary Copper and Gold Mines, Inc. | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     50000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| G2 Goldfields Inc                   | G2 Goldfields, Inc.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1125000 | NS      | $5221121.27   | 6.88%             |  |  |  | No            |                  1 | On Loan: No      |
| InZinc Mining Ltd                   | InZinc Mining, Ltd.                   | CUSIP: N/A<br>LEI: 529900SQMNKF5EXPGG60       | Long             | EC               | CORP              | CA        |   1800000 | NS      | $78685.66     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc               | Aya Gold & Silver, Inc.               | CUSIP: N/A<br>LEI: 549300BWX8KJOTUL4M51       | Long             | EC               | CORP              | CA        |     45000 | NS      | $643910.97    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Barksdale Resources Corp.           | Barksdale Resources Corp.             | CUSIP: N/A<br>LEI: 549300JSC30UXM5OSU40       | Long             | EC               | CORP              | CA        |   3570000 | NS      | $214582.35    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Barksdale Resources Corp.           | Barksdale Resources Corp.             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    147500 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 1911 Gold Corp                      | 1911 Gold Corp.                       | CUSIP: N/A<br>LEI: 894500ZSR9NP4YEJ6343       | Long             | EC               | CORP              | CA        |     45000 | NS      | $28851.41     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| 1911 Gold Corp                      | 1911 Gold Corp.                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     22500 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GR Silver Mining Ltd                | GR Silver Mining, Ltd.                | CUSIP: N/A<br>LEI: 254900K448VPXRKTBM08       | Long             | EC               | CORP              | CA        |   1500000 | NS      | $437142.54    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| GR Silver Mining Ltd                | GR Silver Mining, Ltd.                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    300000 | NC      | $26228.55     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cordoba Minerals Corp               | Cordoba Minerals Corp.                | CUSIP: N/A<br>LEI: 529900JMZSEJCKFG2443       | Long             | EC               | CORP              | CA        |     58823 | NS      | $33856.81     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mithril Silver And Gold Ltd         | Mithril Silver and Gold, Ltd.         | CUSIP: N/A<br>LEI: 529900OQBPU9YVTBDT40       | Long             | EC               | CORP              | AU        |   1100000 | NS      | $396706.86    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Terra Resource Corp            | Gold Terra Resource Corp.             | CUSIP: N/A<br>LEI: 2549008SATATZ2JWM022       | Long             | EC               | CORP              | CA        |   4000000 | NS      | $553713.89    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver Tiger Metals Inc             | Silver Tiger Metals, Inc.             | CUSIP: N/A<br>LEI: 2549009QDIU00MWT6U57       | Long             | EC               | CORP              | CA        |    300000 | NS      | $198899.86    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Goliath Resources Ltd               | Goliath Resources, Ltd.               | CUSIP: N/A<br>LEI: 984500CO8E4AA69F9A26       | Long             | EC               | CORP              | CA        |    112500 | NS      | $204910.57    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nevgold Corp                        | Nevgold Corp.                         | CUSIP: N/A<br>LEI: 9845004EF3E1DE7F1D61       | Long             | EC               | CORP              | CA        |    500000 | NS      | $313285.49    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Scottie Resources Corp              | Scottie Resources Corp.               | CUSIP: N/A<br>LEI: 549300ZRO5OWUZN7NZ11       | Long             | EC               | CORP              | CA        |    500000 | NS      | $590142.44    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Borealis Mining Co Ltd              | Borealis Mining Co., Ltd.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     75000 | NS      | $92892.79     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| RTG Mining Inc                      | RTG Mining, Inc.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |   3000000 | NS      | $54139.44     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Visionary Metals Corp               | Visionary Metals Corp.                | CUSIP: N/A<br>LEI: 5299001W337801DZC196       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $43714.25     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenorland Minerals Ltd              | Kenorland Minerals, Ltd.              | CUSIP: N/A<br>LEI: 2549002HI5ATMIG9UD65       | Long             | EC               | CORP              | CA        |    200000 | NS      | $383228.30    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Heliostar Metals Ltd                | Heliostar Metals, Ltd.                | CUSIP: N/A<br>LEI: 529900BF6RCFL9WNSB18       | Long             | EC               | CORP              | CA        |    900000 | NS      | $1658955.96   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacgold Ltd                         | Pacgold, Ltd.                         | CUSIP: N/A<br>LEI: 529900O1AG84UW4PXN43       | Long             | EC               | CORP              | AU        |   1666667 | NS      | $94155.32     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacgold Ltd                         | Pacgold, Ltd.                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | AU        |    833333 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Capitan Silver Corp                 | Capitan Silver Corp.                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    850000 | NS      | $1362427.60   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Newcore Gold Ltd                    | Newcore Gold, Ltd.                    | CUSIP: N/A<br>LEI: 894500A52BE2PYANBI95       | Long             | EC               | CORP              | CA        |    600000 | NS      | $271028.38    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Tolu Minerals Ltd                   | Tolu Minerals, Ltd.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | PG        |   2042000 | NS      | $1795126.70   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuya Silver Corp                    | Kuya Silver Corp.                     | CUSIP: N/A<br>LEI: 549300Y0MAI0OH12T213       | Long             | EC               | CORP              | CA        |    200000 | NS      | $157371.32    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuya Silver Corp                    | Kuya Silver Corp.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    200000 | NC      | $62657.10     | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Osisko Development Corp             | Osisko Development Corp.              | CUSIP: N/A<br>LEI: 984500A8CC57F67DJ124       | Long             | EC               | CORP              | CA        |    250000 | NS      | $846963.68    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurum Resources Ltd                 | Aurum Resources, Ltd.                 | CUSIP: N/A<br>LEI: 984500B9F3D67492F792       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $472221.55    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixton Metals Corp                 | Brixton Metals Corp.                  | CUSIP: N/A<br>LEI: 254900N5DFREO3U52485       | Long             | EC               | CORP              | CA        |   2500000 | NS      | $100178.50    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Westhaven Gold Corp                 | Westhaven Gold Corp.                  | CUSIP: BMW1DF0W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    350000 | NC      | $12749.99     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Metallium Ltd                       | Metallium, Ltd.                       | CUSIP: N/A<br>LEI: 2549003K0FGLYTI88O57       | Long             | EC               | CORP              | AU        |     75000 | NS      | $53277.16     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Gold Corp                   | Montage Gold Corp.                    | CUSIP: N/A<br>LEI: 9845004C6BCE77ACA795       | Long             | EC               | CORP              | CA        |    400000 | NS      | $2879312.23   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Stillwater Critical Minerals C      | Stillwater Critical Minerals Corp.    | CUSIP: N/A<br>LEI: 254900QTFL63EEGGYZ88       | Long             | EC               | CORP              | CA        |    770000 | NS      | $218789.84    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stillwater Critical Minerals Corp   | Stillwater Critical Minerals Corp.    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    580000 | NS      | $164802.74    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Stillwater Critical Minerals Corp   | Stillwater Critical Minerals Corp.    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    150000 | NC      | $6010.71      | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Orexplore Technologies Ltd          | Orexplore Technologies, Ltd.          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    267284 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Xali Gold Corp                      | Xali Gold Corp.                       | CUSIP: N/A<br>LEI: 549300OVANI3JC4BIG07       | Long             | EC               | CORP              | CA        |   4875000 | NS      | $390696.15    | 0.51%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Omai Gold Mines Corp                | Omai Gold Mines Corp.                 | CUSIP: N/A<br>LEI: 254900GOHPZOKN6K3C88       | Long             | EC               | CORP              | CA        |   3250000 | NS      | $3314997.63   | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Collective Mining Ltd               | Collective Mining, Ltd.               | CUSIP: N/A<br>LEI: 98450055FE5CF6E9J694       | Long             | EC               | CORP              | CA        |     15000 | NS      | $218571.27    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Founders Metals Inc                 | Founders Metals, Inc.                 | CUSIP: N/A<br>LEI: 984500F8843F89AC8H21       | Long             | EC               | CORP              | CA        |    250000 | NS      | $810535.14    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Exploration Inc             | Western Exploration, Inc.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    550000 | NS      | $252449.82    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Exploration Inc             | Western Exploration, Inc.             | CUSIP: BNG5RM0W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    100000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Western Exploration Inc             | Western Exploration, Inc.             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     50000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sanu Gold Corp                      | Sanu Gold Corp.                       | CUSIP: N/A<br>LEI: 984500BE5C9D66BEFC43       | Long             | EC               | CORP              | CA        |   2775000 | NS      | $566099.60    | 0.75%             |  |  |  | No            |                  3 | On Loan: No      |
| Blackrock Silver Corp               | Blackrock Silver Corp.                | CUSIP: N/A<br>LEI: 529900EI75MCI5GL7914       | Long             | EC               | CORP              | CA        |     30000 | NS      | $30162.84     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Royalties Corp               | Vizsla Royalties Corp.                | CUSIP: N/A<br>LEI: 98450020ZFM00010C790       | Long             | EC               | CORP              | CA        |    523749 | NS      | $1678988.45   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Felix Gold Ltd                      | Felix Gold, Ltd.                      | CUSIP: N/A<br>LEI: 529900KXVHDWF28WLP03       | Long             | EC               | CORP              | AU        |   3916667 | NS      | $920306.86    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Miata Metals Corp                   | Miata Metals Corp.                    | CUSIP: N/A<br>LEI: 984500ELQ9T8H1497788       | Long             | EC               | CORP              | CA        |    385000 | NS      | $115004.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Exploration Ltd               | Alpha Exploration, Ltd.               | CUSIP: N/A<br>LEI: 254900LWGXN18OTF7397       | Long             | EC               | CORP              | VG        |    350000 | NS      | $127499.91    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Westward Gold Inc                   | Westward Gold, Inc.                   | CUSIP: N/A<br>LEI: 984500504C45AE75E922       | Long             | EC               | CORP              | CA        |   3040000 | NS      | $265782.67    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Meeka Metals Ltd                    | Meeka Metals, Ltd.                    | CUSIP: N/A<br>LEI: 529900KOA7NX3J2DL230       | Long             | EC               | CORP              | AU        |   2000000 | NS      | $350753.84    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| McFarlane Lake Mining Ltd           | McFarlane Lake Mining, Ltd.           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1000000 | NS      | $80142.80     | 0.11%             |  |  |  | No            |                  3 | On Loan: No      |
| Denarius Metals Corp                | Denarius Metals Corp.                 | CUSIP: BP5JG75W3<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    100000 | NC      | $728.57       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Denarius Metals Corp                | Denarius Metals Corp.                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     75000 | NC      | $6010.71      | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Olive Resource Capital, Inc.        | Olive Resource Capital, Inc.          | CUSIP: N/A<br>LEI: 549300W74OU2A0EPT602       | Long             | EC               | CORP              | CA        |   4000000 | NS      | $247714.11    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Larvotto Resources Ltd              | Larvotto Resources, Ltd.              | CUSIP: N/A<br>LEI: 98450066A2D7C0380238       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $773573.47    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Karus Mining Inc                    | Karus Mining, Inc.                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     37500 | NS      | $36883.90     | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Awale Resources Ltd                 | Awale Resources, Ltd.                 | CUSIP: N/A<br>LEI: 894500976UL6A1P7D659       | Long             | EC               | CORP              | CA        |    935000 | NS      | $415540.42    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Medallion Metals Ltd                | Medallion Metals, Ltd.                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |   1000000 | NS      | $288032.95    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kootenay Resources Inc              | Kootenay Resources, Inc.              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     40000 | NS      | $2185.71      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Carolina Rush Corp                  | Carolina Rush Corp.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   1000000 | NS      | $98357.07     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Rua Gold Inc                        | Rua Gold, Inc.                        | CUSIP: N/A<br>LEI: 894500I7AQ4P4EDAPF81       | Long             | EC               | CORP              | CA        |    265000 | NS      | $241339.11    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Silver Exploration Co      | Southern Silver Exploration Corp.     | CUSIP: N/A<br>LEI: 529900VY7ZZW0FTRGM33       | Long             | EC               | CORP              | CA        |   1350000 | NS      | $698335.22    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Silver Exploration Co      | Southern Silver Exploration Corp.     | CUSIP: BQVP7B5W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    187500 | NC      | $45080.32     | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Avanti Gold Corp                    | Avanti Gold Corp.                     | CUSIP: N/A<br>LEI: 984500B8751GCOF0FE53       | Long             | EC               | CORP              | CA        |    600000 | NS      | $212014.13    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacifica Silver Corp                | Pacifica Silver Corp.                 | CUSIP: N/A<br>LEI: 254900FTJ1HRYR03T658       | Long             | EC               | CORP              | CA        |    175000 | NS      | $218024.84    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Kootenay Silver Inc                 | Kootenay Silver, Inc.                 | CUSIP: N/A<br>LEI: 529900HM3U0AXDDZPG82       | Long             | EC               | CORP              | CA        |    200000 | NS      | $313285.49    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Kootenay Silver Inc                 | Kootenay Silver, Inc.                 | CUSIP: BR1YVC8W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |   1250000 | NC      | $68303.52     | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Kootenay Silver Inc                 | Kootenay Silver, Inc.                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     64000 | NC      | $21915.41     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Highlander Silver Corp              | Highlander Silver Corp.               | CUSIP: N/A<br>LEI: 875500NW47V6ALTUO315       | Long             | EC               | CORP              | CA        |    210000 | NS      | $812429.42    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prospector Metals Corp              | Prospector Metals Corp.               | CUSIP: N/A<br>LEI: 549300IEBTUL1JW5AZ30       | Long             | EC               | CORP              | CA        |    500000 | NS      | $448071.11    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Orex Minerals Inc                   | Orex Minerals, Inc.                   | CUSIP: N/A<br>LEI: 254900KY6RXZB3WHZC13       | Long             | EC               | CORP              | CA        |    700000 | NS      | $112199.92    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| STLLR Gold Inc                      | STLLR Gold, Inc.                      | CUSIP: BRK39Q6W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |     21000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| New Age Metals Inc                  | New Age Metals, Inc.                  | CUSIP: N/A<br>LEI: 54930045Q4VKFAP8GW50       | Long             | EC               | CORP              | CA        |     35880 | NS      | $10587.16     | 0.01%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Storm Exploration Inc               | Storm Exploration, Inc.               | CUSIP: N/A<br>LEI: 529900MLZUAM4ZY9KN74       | Long             | EC               | CORP              | CA        |    134375 | NS      | $27901.99     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Minaurum Gold Inc                   | Minaurum Gold, Inc.                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    200000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| C3 Metals Inc                       | C3 Metals, Inc.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    123000 | NS      | $103952.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ongold Resources Ltd                | Ongold Resources, Ltd.                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     86000 | NS      | $62657.10     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dolly Varden Silver Corp            | Dolly Varden Silver Corp.             | CUSIP: N/A<br>LEI: 2549007A2MNBXFD0FU11       | Long             | EC               | CORP              | CA        |    350000 | NS      | $1529998.91   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Silver Corp                  | Vizsla Silver Corp.                   | CUSIP: N/A<br>LEI: 549300ADJF7HWIEDL366       | Long             | EC               | CORP              | CA        |    862500 | NS      | $4725510.91   | 6.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamera Minerals Corp               | Adamera Minerals Corp.                | CUSIP: N/A<br>LEI: 529900JJSQXUJKI78P19       | Long             | EC               | CORP              | CA        |   1058954 | NS      | $42433.77     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Dryden Gold Corp                    | Dryden Gold Corp.                     | CUSIP: N/A<br>LEI: 894500BBVA1I6S137U42       | Long             | EC               | CORP              | CA        |    700000 | NS      | $175949.87    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dryden Gold Corp                    | Dryden Gold Corp.                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    500000 | NC      | $58285.67     | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Waraba Gold Ltd                     | Waraba Gold, Ltd.                     | CUSIP: N/A<br>LEI: 549300HN92O436MPI730       | Long             | EC               | CORP              | CA        |    335834 | NS      | $24467.89     | 0.03%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Silver Viper Minerals Corp          | Silver Viper Minerals Corp.           | CUSIP: N/A<br>LEI: 2549002690B71OC9TE07       | Long             | EC               | CORP              | CA        |    150000 | NS      | $241521.26    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver Viper Minerals Corp          | Silver Viper Minerals Corp.           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |     50000 | NC      | $25864.27     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| West Point Gold Corp                | West Point Gold Corp.                 | CUSIP: N/A<br>LEI: 2549005S8H6WG1F3AJ62       | Long             | EC               | CORP              | CA        |    933800 | NS      | $945671.92    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold X2 Mining Inc                  | Gold X2 Mining, Inc.                  | CUSIP: N/A<br>LEI: 98450058F667FEA56331       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $976285.21    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Sranan Gold Corp                    | Sranan Gold Corp.                     | CUSIP: N/A<br>LEI: 254900W6ZKCZBTW41330       | Long             | EC               | CORP              | CA        |    500000 | NS      | $105642.78    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenta Silver Corp                 | Argenta Silver Corp.                  | CUSIP: N/A<br>LEI: 984500E0455AB5E4F692       | Long             | EC               | CORP              | CA        |    725000 | NS      | $390878.29    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Minaurum Gold Inc                   | Minaurum Gold, Inc.                   | CUSIP: N/A<br>LEI: 5299007YUI5DADC64V51       | Long             | EC               | CORP              | CA        |   1650000 | NS      | $492878.22    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallium Ltd                       | Metallium, Ltd.                       | CUSIP: N/A<br>LEI: 2549003K0FGLYTI88O57       | Long             | EC               | CORP              | AU        |    122507 | NS      | $87024.33     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallium Ltd                       | Metallium, Ltd.                       | CUSIP: N/A<br>LEI: 2549003K0FGLYTI88O57       | Long             | EC               | CORP              | AU        |    127493 | NS      | $90566.19     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Visionary Copper and Gold Mine      | Visionary Copper and Gold Mines, Inc. | CUSIP: N/A<br>LEI: 52990040N8FRDGSE3Y81       | Long             | EC               | CORP              | CA        |    100000 | NS      | $48085.68     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Visionary Copper and Gold Mines Inc | Visionary Copper and Gold Mines, Inc. | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    267176 | NC      | $128473.40    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Goldsky Resources Corp              | Goldsky Resources Corp.               | CUSIP: N/A<br>LEI: 2549005410S0DTXUQ121       | Long             | EC               | CORP              | CA        |    287500 | NS      | $439874.69    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascot Resources Ltd                 | Ascot Resources, Ltd.                 | CUSIP: N/A<br>LEI: 98450093855CEDA61B27       | Long             | EC               | CORP              | CA        |       128 | NS      | $69.94        | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Troilus Mining Corp                 | Troilus Mining Corp.                  | CUSIP: N/A<br>LEI: 529900ROF3ICFG84XJ17       | Long             | EC               | CORP              | CA        |    200000 | NS      | $228771.27    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Erdene Resource Development Co      | Erdene Resource Development Corp.     | CUSIP: N/A<br>LEI: 529900T4O899O2ZM8216       | Long             | EC               | CORP              | CA        |     50000 | NS      | $300535.50    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Paragon Advanced Labs Inc           | Paragon Advanced Labs, Inc.           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    102000 | NS      | $207336.71    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano One Materials Corp             | Nano One Materials Corp.              | CUSIP: N/A<br>LEI: 549300WY1QJ560JAB909       | Long             | EC               | CORP              | CA        |   2882500 | NS      | $2247113.04   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano One Materials Corp             | Nano One Materials Corp.              | CUSIP: BWCLKK4W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |     87500 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Royal Road Minerals Ltd             | Royal Road Minerals, Ltd.             | CUSIP: N/A<br>LEI: 54930033JDODZL6J2G22       | Long             | EC               | CORP              | JE        |   1500000 | NS      | $213106.99    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mammoth Resources Corp.             | Mammoth Resources Corp.               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   5500000 | NS      | $210374.85    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GFG Resources Inc                   | GFG Resources, Inc.                   | CUSIP: N/A<br>LEI: 529900J244O3CHY15G77       | Long             | EC               | CORP              | CA        |   6000000 | NS      | $611999.56    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| GFG Resources Inc                   | GFG Resources, Inc.                   | CUSIP: BYM89W4W3<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |   1000000 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hannan Metals Ltd                   | Hannan Metals, Ltd.                   | CUSIP: N/A<br>LEI: 391200A99MOXTV5NAC86       | Long             | EC               | CORP              | CA        |    611625 | NS      | $418875.45    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Canex Metals, Inc.                  | Canex Metals, Inc.                    | CUSIP: N/A<br>LEI: 529900LR684JDC2D8L39       | Long             | EC               | CORP              | CA        |   3100000 | NS      | $485592.51    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Amex Exploration Inc                | Amex Exploration, Inc.                | CUSIP: N/A<br>LEI: 549300B1S86E4WXYUW33       | Long             | EC               | CORP              | CA        |    150000 | NS      | $437142.54    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                      | K92 Mining, Inc.                      | CUSIP: N/A<br>LEI: 254900EA8H0X9FEVZU11       | Long             | EC               | CORP              | CA        |    230000 | NS      | $3802193.00   | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gemdale Gold Corp                   | Gemdale Gold Corp.                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    200000 | NS      | $145714.18    | 0.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| N/A                                 | Investmin Resources, Inc.             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    180000 | NS      | $131142.76    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Juno Corp                           | Juno Corp.                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    200000 | NS      | $582856.73    | 0.77%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sua Holdings Limited                | Sua Holdings Limited                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    500000 | NS      | $765.00       | 0.00%             |  |  |  | No            |                  3 | 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