# EDGAR Filing Document

**Accession Number:** 0000754811
**File Stem:** 0001437749-25-021306
**Filing Date:** 2025-6
**Character Count:** 13449
**Document Hash:** 943098808955e9641f561caf93a646c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-021306.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001437749-25-021306

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250625

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** U S GLOBAL INVESTORS INC
- **CENTRAL INDEX KEY:** 0000754811
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 741598370
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-13928
- **FILM NUMBER:** 251077134

**BUSINESS ADDRESS:**
- **STREET 1:** 7900 CALLAGHAN RD
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78229
- **BUSINESS PHONE:** 2103081234

**MAIL ADDRESS:**
- **STREET 1:** 7900 CALLAGHAN ROAD
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78229

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITED SERVICES ADVISORS INC /TX/
- **DATE OF NAME CHANGE:** 19950321

?xml version='1.0' encoding='ASCII'? usglobal20250626_8k.htm

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

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**FORM 8-K**

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**CURRENT REPORT**

**Pursuant to Section 13 Or 15(d) Of** 

**The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): June 25, 2025**

**<u>U.S. GLOBAL INVESTORS, INC.</u>**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **<u>Texas</u>** | **<u>0-13928</u>** | **<u>74-1598370</u>** |
| (State of other jurisdiction of incorporation)  | (Commission File Number) | (IRS Employer Identification No.) |

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**<u>7900 Callaghan Road, San Antonio, Texas 78229</u>**

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: **<u>210-308-1234</u>**

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(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Class A common stock, $0.25 par value per share | GROW | NASDAQ Capital Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 8.01 Other Events.**

On June 25, 2025, U.S. Global Investors, Inc. issued a press release announcing the Company Maintains Monthly Dividends, Grow Bitcoin Exposure and Highlights Smart Beta 2.0 Tools for Targeted Fear Trade Strategies. A copy of the press release is attached and being furnished as Exhibit 99.1.

**Item 9.01** — **Financial Statement and Exhibits**

**(d) Exhibits**

Exhibit 99.1 – [Press Release issued by U.S. Global Investors, Inc. dated June 25, 2025.](ex_834392.htm)

Exhibit 104 - Cover Page Interactive Data File (embedded within the Inline XBRL document)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| **U.S. Global Investors, Inc.** | **U.S. Global Investors, Inc.** |
| **By:** | /s/ Lisa Callicotte |
|  | **Lisa Callicotte** |
|  | **Chief Financial Officer** |

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**Dated:**&nbsp;&nbsp;&nbsp;&nbsp; **June 26, 2025**

## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| **Contact:**<br> Holly Schoenfeldt<br> Director of Marketing<br> 210.308.1268<br> hschoenfeldt@usfunds.com | ![image02.jpg](image02.jpg) |

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**For Immediate Release**

**U.S. Global Investors Maintains Monthly Dividends, Grow Bitcoin Exposure and Highlights Smart Beta 2.0 Tools for Targeted Fear Trade Strategies**

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**SAN ANTONIO**—**June 25, 2025**—U.S. Global Investors, Inc. (<u>NASDAQ</u>: <u>GROW</u>), a registered investment advisory firm with expertise in gold mining stocks and the airline industry, is pleased to announce that it will continue its payment of monthly dividends.

The Company's Board of Directors (the "Board") approved payment of the $0.0075 per share per month dividend beginning in July 2025 and continuing through September 2025. The record dates are July 14, August 11 and September 15, and the payment dates will be July 28, August 25 and September 29.

Based on the June 16, 2025, closing price of $2.41, this monthly dividend represents an annualized yield of 3.73%. In addition, the Company's shareholder yield was 10.5% as of March 31, 2025.

**Company Continues to Increase Its Exposure to the Bitcoin Ecosystem**

To help create additional shareholder value, the Company has been accumulating investments in the Bitcoin ecosystem, as was first reported in a press release dated May 8, 2025.

"We are maintaining Bitcoin exposure on our balance sheet, reflecting what we see as a favorable shift in the U.S. regulatory environment toward digital assets," says Frank Holmes, the Company's CEO and Chief Investment Officer. "A growing number of publicly traded companies now hold Bitcoin on their balance sheet as the world's largest digital asset continues to mature as a legitimate, sought-after portfolio diversifier. We share their conviction in Bitcoin."

**Consider the Role of the Fear Trade**

Amid today's volatile global backdrop, investors may wish to explore strategies aligned with what we call the Fear Trade—investments that have historically shown favor during times of geopolitical tension, inflation or market stress.

Gold continues to play a central role in global reserve management. Central banks have been accumulating gold at a record pace, with 95% of those surveyed by the World Gold Council (WGC) expecting global gold reserves to rise over the next year. The yellow metal is also now the second-largest global reserve asset after the U.S. dollar, according to the European Central Bank (ECB).

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<sup>1</sup> Registration does not imply a certain level of skill or training.

<sup>2</sup> The Company calculates shareholder yield by adding the percentage of change in shares outstanding to the dividend yield for the 12 months ending March 31, 2025. The Company did not have debt; therefore, no debt reduction was included.

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The **U.S. Global GO GOLD and Precious Metal Miners ETF (**<u>**NYSE: GOAU**</u>**)** uses a **Smart Beta 2.0** approach to target high-quality gold mining and royalty companies, particularly those with strong fundamentals and disciplined capital allocation. The fund emphasizes firms that have historically demonstrated resilience even when metal prices are under pressure.

At the same time, armed conflict and defense spending have surged globally. According to the Peace Research Institute Oslo (PRIO), 2024 marked the highest number of state-based conflicts since 1946, and tensions remain elevated in regions including Eastern Europe, the Middle East and South Asia. In response, defense budgets are rising, with a renewed focus on cybersecurity, AI and aerospace modernization.

The **U.S. Global Technology and Aerospace & Defense ETF (**<u>**NYSE: WAR**</u>**)** also leverages a Smart Beta 2.0 strategy. The Company's first actively managed ETF, WAR combines quantitative and fundamental analysis to invest in companies positioned at the intersection of national security and innovation, from missile systems and fighter jets to semiconductors and data centers.

![image03.jpg](image03.jpg)

*Past performance is no guarantee of future results.*

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<sup>3</sup> World Gold Council. (2025, June 17). *Central Bank Gold Reserves Survey 2025.* <u>https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2025</u>

<sup>4</sup> European Central Bank. (2025, June). *The international role of the euro.* <u>https://www.ecb.europa.eu/press/other-publications/ire/html/ecb.ire202506.en.html</u>

<sup>5</sup> Rustad, S. A. (2025). Conflict trends: *A global overview, 1946*–*2024 (PRIO Paper).* Peace Research Institute Oslo. <u>https://www.prio.org/publications/14453</u>

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***Both ETFs seek to offer rules-based exposure to sectors that have historically demonstrated resilience in uncertain times. We invite investors to learn more at*** <u>***www.usglobaletfs.com.***</u>

**About U.S. Global Investors, Inc.**

The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (<u>www.usfunds.com</u>) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides investment advisory and other services to U.S. Global Investors Funds and U.S. Global ETFs.

\# \# \#

This news release may include certain "forward-looking statements" including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements.

The continuation of future cash dividends will be determined by U.S. Global Investors' Board of Directors, at its sole discretion, after review of the Company's financial performance and other factors, and is dependent on earnings, operations, capital requirements, general financial condition of the Company, and general business conditions.

Shareholder yield is a financial metric that measures the total return a company provides to its shareholders through dividends, share repurchases (buybacks), and debt reduction. It reflects the percentage of a company's market value that it returns to investors.

Smart beta 2.0 combines the benefits of passive investing and the advantages of active investing strategies.

*Please carefully consider a fund*'*s investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory and summary prospectus for WAR and GOAU by clicking* <u>*here*</u> *and <u>here</u>. Read it carefully before investing.*

Foreside Fund Services, LLC, Distributor. U.S. Global Investors is the investment adviser. GOAU and WAR are distributed by Quasar Distributors, LLC.

**Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the fund. Brokerage commissions will reduce returns.** 

**Because the funds concentrate their investments in specific industries, the funds may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries. The funds are non-diversified, meaning they may concentrate a larger portion of their assets in a smaller number of issuers than a diversified fund.** 

**The funds invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The funds may invest in the securities of smaller-capitalization companies, which may be more volatile than those of larger, more established companies.**

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Investments in gold, precious metals and minerals are subject to significant short-term price fluctuations and geopolitical, economic and regulatory risks. We believe these sectors are best limited to 5%–10% of a portfolio.

WAR is an actively managed, non-diversified fund with a limited operating history. It concentrates on specific industries—Aerospace & Defense, Cybersecurity and Semiconductors—which may result in higher volatility and sensitivity to sector-specific risks.

Aerospace & Defense firms face political and economic uncertainty, high R&D costs and reliance on government contracts. Cybersecurity companies are exposed to rapid technological change, patent reliance and intense global competition. Semiconductor companies face cyclical demand, high capital costs, pricing pressure and extreme volatility.

Foreign and emerging market investments add risks of currency fluctuation, reduced liquidity, political instability and limited regulatory oversight.

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.