# EDGAR Filing Document

**Accession Number:** 0000101507
**File Stem:** 0000101507-26-000040
**Filing Date:** 2026-2
**Character Count:** 45723
**Document Hash:** 593049e653faba47a37c4b832bc5c584
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000101507-26-000040.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000101507-26-000040

**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:** 26701450

**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:** 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:** $63280207.19

**Total Liabilities:** $116062.35

**Net Assets:** $63164144.84

**Cash Not Reported:** $2071163.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012993 | 2.69%                | 11.01%               | 3.90%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $234889.66               | $1096517.42                                |
| Month 2  | $-671464.35              | $6581969.52                                |
| Month 3  | $218803.21               | $1692670.23                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Electric Power Co Inc | American Electric Power Co., Inc.           | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      2000 | NS      | $230620.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp          | Antero Resources Corp.                      | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |      5000 | NS      | $172300.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ARIS MINING CORP               | Aris Gold Corp.                             | CUSIP: 04041BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    412835 | PA      | $1135296.25   | 1.80%             | 2027-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BP PLC                         | BP PLC                                      | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |      7000 | NS      | $243110.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co.                            | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8500 | NS      | $387090.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                  | BHP Group, Ltd.                             | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      3500 | NS      | $211295.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group, Inc.                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       461 | NS      | $125889.88    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp.                                | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |      5000 | NS      | $457450.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar, Inc.                           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1000 | NS      | $572870.00    | 0.91%             |  |  |  | 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      |
| Cheniere Energy Inc            | Cheniere Energy, Inc.                       | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      3000 | NS      | $583170.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Coeur Mining Inc               | Coeur Mining, Inc.                          | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |     65000 | NS      | $1158950.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Amarc Resources Ltd            | Amarc Resources, Ltd.                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    825000 | NS      | $811445.85    | 1.28%             |  |  |  | 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      |
| Getty Copper Inc               | Getty Copper, Inc.                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    834000 | NS      | $45572.11     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Major Drilling Group Internati | Major Drilling Group International, Inc.    | CUSIP: N/A<br>LEI: 549300O1MNHCX2FUBC21       | Long             | EC               | CORP              | CA        |     35000 | NS      | $328949.77    | 0.52%             |  |  |  | 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      |
| Lundin Mining Corp             | Lundin Mining Corp.                         | CUSIP: N/A<br>LEI: 549300FQDIM6C8HTN269       | Long             | EC               | CORP              | CA        |     25000 | NS      | $537321.04    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Taseko Mines Ltd               | Taseko Mines, Ltd.                          | CUSIP: N/A<br>LEI: 549300XKUO1JSLU7KX54       | Long             | EC               | CORP              | CA        |    100000 | NS      | $566099.60    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Enerflex Ltd                   | Enerflex, Ltd.                              | CUSIP: 29269R105<br>LEI: 54930014N7872VUS3F89 | Long             | EC               | CORP              | CA        |     17000 | NS      | $262310.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Silver Corp          | Endeavour Silver Corp.                      | CUSIP: N/A<br>LEI: 549300IF2E29780PPV02       | Long             | EC               | CORP              | CA        |     30000 | NS      | $282175.51    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy              | Eversource Energy                           | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      3000 | NS      | $201990.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp.                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     13500 | NS      | $1624590.00   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar, Inc.                           | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      1500 | NS      | $391845.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Caribbean Resources Corp       | Caribbean Resources Corp.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |   2148176 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Franco-Nevada Corp             | Franco-Nevada Corp.                         | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      2500 | NS      | $518200.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Co                 | Halliburton Co.                             | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     10000 | NS      | $282600.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals Inc            | Hudbay Minerals, Inc.                       | CUSIP: 443628102<br>LEI: 894500LX3TMESP27BE29 | Long             | EC               | CORP              | CA        |     95000 | NS      | $1885750.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| IberAmerican Lithium Corp      | IberAmerican Lithium Corp.                  | CUSIP: 45074U109<br>LEI: 8945008CEJYMFF9E3003 | Long             | EC               | CORP              | CA        |   1000000 | NS      | $1.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| IBERAMERICAN LITHIUM CORP      | IberAmerican Lithium Corp.                  | CUSIP: 45074U117<br>LEI: 8945008CEJYMFF9E3003 | N/A              | DE               | CORP              | CA        |    500000 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Impala Platinum Holdings Ltd   | Impala Platinum Holdings, Ltd.              | CUSIP: 452553308<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |      8840 | NS      | $138611.20    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc / US      | Ivanhoe Electric, Inc./US                   | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51499 | NS      | $822954.02    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc           | Jacobs Solutions, Inc.                      | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |      3500 | NS      | $463610.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| LNG Energy Group               | LNG Energy Group                            | CUSIP: 50215D115<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |   1000000 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Legacy Lithium Corp            | Legacy Lithium Corp.                        | CUSIP: 524666203<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     20000 | NS      | $728.57       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| LNG Energy Group Corp          | LNG Energy Group Corp.                      | CUSIP: 53951J106<br>LEI: 89450035H05LMD3W5Q76 | Long             | EC               | CORP              | CA        |   1100000 | NS      | $26510.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NG ENERGY INTERNATIONAL        | NG Energy International Corp.               | CUSIP: 62931JAA0<br>LEI: 5493008ZYYAQDL3KMH86 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $409821.14    | 0.65%             | 2027-05-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| New Gold Inc                   | New Gold, Inc.                              | CUSIP: 644535106<br>LEI: 5493005G0GNCHP0H6L96 | Long             | EC               | CORP              | CA        |     20000 | NS      | $174200.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Worley Ltd                     | Worley, Ltd.                                | CUSIP: N/A<br>LEI: 549300XDR86FY8OLGP97       | Long             | EC               | CORP              | AU        |     50000 | NS      | $417540.76    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                    | Nutrien, Ltd.                               | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     25000 | NS      | $1543000.00   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| OR Royalties Inc               | OR Royalties, Inc.                          | CUSIP: 68390D106<br>LEI: 549300TJZTXZMPQ6K004 | Long             | EC               | CORP              | CA        |     20000 | NS      | $707800.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Perpetua Resources Corp        | Perpetua Resources Corp.                    | CUSIP: 714266103<br>LEI: 529900BQBMS383SEPY05 | Long             | EC               | CORP              | CA        |     30000 | NS      | $726300.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp           | Range Resources Corp.                       | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |     10500 | NS      | $370230.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                      | Shell PLC                                   | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     11000 | NS      | $808280.00    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB, Ltd.                                   | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |      4500 | NS      | $172710.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Seabridge Gold Inc             | Seabridge Gold, Inc.                        | CUSIP: 811916105<br>LEI: 9845003FEO1A66376A92 | Long             | EC               | CORP              | CA        |     20000 | NS      | $591800.00    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Select Water Solutions Inc     | Select Water Solutions, Inc.                | CUSIP: 81617J301<br>LEI: 54930094OK8LA3QDW486 | Long             | EC               | CORP              | US        |     10000 | NS      | $105200.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsu Metals Corp.              | Orsu Metals Corp.                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |     14761 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Standard Lithium Ltd           | Standard Lithium, Ltd.                      | CUSIP: 853606101<br>LEI: 549300LA4BSHAKT4SL33 | Long             | EC               | CORP              | CA        |     75000 | NS      | $335250.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc             | Steel Dynamics, Inc.                        | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      1500 | NS      | $254175.00    | 0.40%             |  |  |  | No            |                  1 | 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      |
| Teck Resources Ltd             | Teck Resources, Ltd.                        | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |      5000 | NS      | $239450.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| I-Pulse, Inc.                  | I-Pulse, Inc.                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15971 | NS      | $39927.50     | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Valero Energy Corp             | Valero Energy Corp.                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      1000 | NS      | $162790.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vox Royalty Corp               | Vox Royalty Corp.                           | CUSIP: 92919F103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    150000 | NS      | $711000.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Energy Group Ltd      | Woodside Energy Group, Ltd.                 | CUSIP: 980228308<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |     40000 | NS      | $623600.00    | 0.99%             |  |  |  | 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      | $0.27         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Glencore PLC                   | Glencore PLC                                | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | JE        |     20000 | NS      | $109333.26    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfden Resources Corp         | Wolfden Resources Corp.                     | CUSIP: N/A<br>LEI: 529900E4PMQNSC4DMV56       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $138428.47    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BluMetric Environmental Inc    | BluMetric Environmental, Inc.               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    100000 | NS      | $114385.63    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BluMetric Environmental Inc    | BluMetric Environmental, Inc.               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    150000 | NS      | $171578.45    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TMX Group Ltd                  | TMX Group, Ltd.                             | CUSIP: N/A<br>LEI: 549300N65GFVKSHGJW59       | Long             | EC               | CORP              | CA        |      4600 | NS      | $175044.99    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Arianne Phosphate Inc          | Arianne Phosphate, Inc.                     | CUSIP: N/A<br>LEI: 529900DVDSAMX5UW9I19       | Long             | EC               | CORP              | CA        |    600000 | NS      | $89614.22     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Torex Gold Resources Inc       | Torex Gold Resources, Inc.                  | CUSIP: N/A<br>LEI: 549300QL07027186GQ85       | Long             | EC               | CORP              | CA        |     29000 | NS      | $1384765.58   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Mines Ltd              | Ivanhoe Mines, Ltd.                         | CUSIP: N/A<br>LEI: 5299006XZISURYIA4G32       | Long             | EC               | CORP              | CA        |     60000 | NS      | $682379.51    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Contango Holdings PLC          | Contango Holdings PLC                       | CUSIP: N/A<br>LEI: 213800HZ69B3QHCUGX36       | Long             | EC               | CORP              | GB        |  10502248 | NS      | $116663.81    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Torq Resources Inc             | Torq Resources, Inc.                        | CUSIP: N/A<br>LEI: 984500FFC0A7C080FB49       | Long             | EC               | CORP              | CA        |    900000 | NS      | $55735.67     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Torq Resources Inc             | Torq Resources, Inc.                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   1000000 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Revival Gold Inc               | Revival Gold, Inc.                          | CUSIP: N/A<br>LEI: 529900X2G2T7XSIDUH63       | Long             | EC               | CORP              | CA        |   1600000 | NS      | $804342.28    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Revival Gold Inc               | Revival Gold, Inc.                          | CUSIP: BF5RGT1W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    250000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Revival Gold Inc               | Revival Gold, Inc.                          | CUSIP: BF5RGT1W3<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    137500 | NC      | $24042.84     | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Kutcho Copper Corp             | Kutcho Copper Corp.                         | CUSIP: N/A<br>LEI: 984500686CF49F91B703       | Long             | EC               | CORP              | CA        |   1000000 | NS      | $112928.49    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Cat Syndicate Ltd        | Black Cat Syndicate, Ltd.                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AU        |    800000 | NS      | $656201.55    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mene Inc                       | Mene, Inc.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    750000 | NS      | $81964.23     | 0.13%             |  |  |  | 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     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Barksdale Resources Corp.      | Barksdale Resources Corp.                   | CUSIP: N/A<br>LEI: 549300JSC30UXM5OSU40       | Long             | EC               | CORP              | CA        |   1955000 | NS      | $117509.38    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Barksdale Resources Corp.      | Barksdale Resources Corp.                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    177500 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Firefinch Ltd                  | Firefinch, Ltd.                             | CUSIP: N/A<br>LEI: 52990065EGEF8FEI8S51       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $42376.73     | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| Cordoba Minerals Corp          | Cordoba Minerals Corp.                      | CUSIP: N/A<br>LEI: 529900JMZSEJCKFG2443       | Long             | EC               | CORP              | CA        |     58823 | NS      | $33856.81     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Canada Nickel Co Inc           | Canada Nickel Co., Inc.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    195000 | NS      | $198899.86    | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NG Energy International Corp   | NG Energy International Corp.               | CUSIP: N/A<br>LEI: 5493008ZYYAQDL3KMH86       | Long             | EC               | CORP              | CA        |    950000 | NS      | $775199.45    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| E3 Lithium Ltd                 | E3 Lithium, Ltd.                            | CUSIP: N/A<br>LEI: 52990082J3TRBAE2EA67       | Long             | EC               | CORP              | CA        |    100000 | NS      | $67757.09     | 0.11%             |  |  |  | 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        |    200000 | NS      | $696513.79    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Aclara Resources Inc           | Aclara Resources, Inc.                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     35000 | NS      | $55079.96     | 0.09%             |  |  |  | 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      | $42621.40     | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| Neotech Metals Corp            | Neotech Metals Corp.                        | CUSIP: N/A<br>LEI: 894500Y22XZ8HVJMA428       | Long             | EC               | CORP              | CA        |    300000 | NS      | $53549.96     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixton Metals Corp            | Brixton Metals Corp.                        | CUSIP: N/A<br>LEI: 254900N5DFREO3U52485       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $80142.80     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Gold Corp              | Montage Gold Corp.                          | CUSIP: N/A<br>LEI: 9845004C6BCE77ACA795       | Long             | EC               | CORP              | CA        |    600000 | NS      | $4318968.34   | 6.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Fireweed Metals Corp           | Fireweed Metals Corp.                       | CUSIP: N/A<br>LEI: 254900JZC4H658GXFF75       | Long             | EC               | CORP              | CA        |    350000 | NS      | $691049.51    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Energy Corp             | Encore Energy Corp.                         | CUSIP: N/A<br>LEI: 5299007FNX2NVNJM3O59       | Long             | EC               | CORP              | CA        |     50000 | NS      | $119121.34    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrise Energy Metals Ltd      | Sunrise Energy Metals, Ltd.                 | CUSIP: N/A<br>LEI: 529900AYAT2TIC68VA49       | Long             | EC               | CORP              | AU        |    150000 | NS      | $789345.19    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems A/S        | Vestas Wind Systems A/S                     | CUSIP: N/A<br>LEI: 549300DYMC8BGZZC8844       | Long             | EC               | CORP              | DK        |     12000 | NS      | $324566.66    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Collective Mining Ltd          | Collective Mining, Ltd.                     | CUSIP: N/A<br>LEI: 98450055FE5CF6E9J694       | Long             | EC               | CORP              | CA        |     20000 | NS      | $291428.36    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Silver Corp          | Blackrock Silver Corp.                      | CUSIP: N/A<br>LEI: 529900EI75MCI5GL7914       | Long             | EC               | CORP              | CA        |    500000 | NS      | $502713.93    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Silver Corp          | Blackrock Silver Corp.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    375000 | NC      | $240428.40    | 0.38%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Vizsla Royalties Corp          | Vizsla Royalties Corp.                      | CUSIP: N/A<br>LEI: 98450020ZFM00010C790       | Long             | EC               | CORP              | CA        |    191715 | NS      | $614584.13    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| EnviroGold Global Ltd          | EnviroGold Global, Ltd.                     | CUSIP: N/A<br>LEI: 529900510T59OMYN1R06       | Long             | EC               | CORP              | CA        |     75000 | NS      | $7923.21      | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Base Carbon Inc                | Base Carbon, Inc.                           | CUSIP: N/A<br>LEI: 875500CYVEXDVEKA7P19       | Long             | EC               | CORP              | CA        |    990000 | NS      | $714072.35    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nio Strategic Metals Inc       | Nio Strategic Metals, Inc.                  | CUSIP: N/A<br>LEI: 529900E0PU53BNJL2T31       | Long             | EC               | CORP              | CA        |   3562069 | NS      | $376306.88    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Larvotto Resources Ltd         | Larvotto Resources, Ltd.                    | CUSIP: N/A<br>LEI: 98450066A2D7C0380238       | Long             | EC               | CORP              | AU        |    200000 | NS      | $154714.69    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Electra Battery Materials Corp | Electra Battery Materials Corp.             | CUSIP: N/A<br>LEI: 5493009ZPOP6FTZAUU15       | Long             | EC               | CORP              | CA        |    263889 | NS      | $213410.65    | 0.34%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Electra Battery Materials Corp | Electra Battery Materials Corp.             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    250000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Allied Critical Metals Inc     | Allied Critical Metals, Inc.                | CUSIP: N/A<br>LEI: 9845003AFK7DAE136161       | Long             | EC               | CORP              | CA        |    500000 | NS      | $218571.27    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Leo Lithium Ltd                | Leo Lithium, Ltd.                           | CUSIP: N/A<br>LEI: 984500LD0A57A68EZ677       | Long             | EC               | CORP              | AU        |    700000 | NS      | $12426.06     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Abaxx Technologies Inc         | Abaxx Technologies, Inc.                    | CUSIP: N/A<br>LEI: 5299002EIVMNJ21B5K89       | Long             | EC               | CORP              | CA        |    300000 | NS      | $11147134.89  | 17.65%            |  |  |  | No            |                  1 | On Loan: No      |
| Volt Lithium Corp              | LibertyStream Infrastructure Partners, Inc. | CUSIP: BQ84ZJ9W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |    250000 | NC      | $111107.06    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Seasif Exploration Inc         | Seasif Exploration, Inc.                    | CUSIP: N/A<br>LEI: 5493004W43GXYETF2896       | Long             | EC               | CORP              | CA        |   2000000 | NS      | $29142.84     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Axo Copper Corp                | Axo Copper Corp.                            | CUSIP: N/A<br>LEI: 984500CAK03E3F863649       | Long             | EC               | CORP              | CA        |    175000 | NS      | $66299.95     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Axo Copper Corp                | Axo Copper Corp.                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    125000 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CanAlaska Uranium Ltd          | CanAlaska Uranium, Ltd.                     | CUSIP: N/A<br>LEI: 254900J7UJWY3AWJ8D78       | Long             | EC               | CORP              | CA        |     90000 | NS      | $38687.12     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LunR Royalties Corp            | LunR Royalties Corp.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |     12500 | NS      | $118848.13    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Trigon Metals Inc              | Trigon Metals, Inc.                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    625000 | NC      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Vizsla Silver Corp             | Vizsla Silver Corp.                         | CUSIP: N/A<br>LEI: 549300ADJF7HWIEDL366       | Long             | EC               | CORP              | CA        |    312500 | NS      | $1712139.83   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Atomic Eagle Ltd               | Atomic Eagle, Ltd.                          | CUSIP: N/A<br>LEI: 875500FJGAAWTU1PFG45       | Long             | EC               | CORP              | AU        |     14697 | NS      | $3825.19      | 0.01%             |  |  |  | Yes           |                  1 | On Loan: No      |
| King Copper Discovery Corp     | King Copper Discovery Corp.                 | CUSIP: N/A<br>LEI: 8945000VED5UFTAFEA34       | Long             | EC               | CORP              | CA        |    500000 | NS      | $346071.18    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PECOY COPPER CORP              | PECOY COPPER CORP                           | CUSIP: N/A<br>LEI: 984500E4Z2A4EBECED27       | Long             | EC               | CORP              | CA        |    250000 | NS      | $240428.40    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Anson Resources Ltd            | Anson Resources, Ltd.                       | CUSIP: N/A<br>LEI: 529900U2F9BSPAMFR394       | Long             | EC               | CORP              | AU        |   1000000 | NS      | $43150.19     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NGEx Minerals Ltd              | NGEx Minerals, Ltd.                         | CUSIP: N/A<br>LEI: 549300M2DU5ORAGOIG27       | Long             | EC               | CORP              | CA        |     50000 | NS      | $932570.76    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| LibertyStream Infrastructure P | LibertyStream Infrastructure Partners, Inc. | CUSIP: N/A<br>LEI: 549300SDR8MSPG2LCS66       | Long             | EC               | CORP              | CA        |    975000 | NS      | $745874.47    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Locksley Resources Ltd         | Locksley Resources, Ltd.                    | CUSIP: N/A<br>LEI: 894500JQW9VEBSZKI240       | Long             | EC               | CORP              | AU        |    315146 | NS      | $41327.29     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano One Materials Corp        | Nano One Materials Corp.                    | CUSIP: N/A<br>LEI: 549300WY1QJ560JAB909       | Long             | EC               | CORP              | CA        |    500000 | NS      | $389785.44    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Nano One Materials Corp        | Nano One Materials Corp.                    | CUSIP: BWCLKK4W2<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |     82500 | 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        |   5500000 | NS      | $781392.30    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannan Metals Ltd              | Hannan Metals, Ltd.                         | CUSIP: N/A<br>LEI: 391200A99MOXTV5NAC86       | Long             | EC               | CORP              | CA        |   1019375 | NS      | $698125.75    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                 | K92 Mining, Inc.                            | CUSIP: N/A<br>LEI: 254900EA8H0X9FEVZU11       | Long             | EC               | CORP              | CA        |    100000 | NS      | $1653127.39   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Contango Holdings PLC          | Contango Holdings PLC                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |    400000 | PA      | $539180.20    | 0.85%             | 2026-03-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| TotalEnergies SE               | TotalEnergies SE                            | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     15000 | NS      | $981300.00    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                | Bunge Global SA                             | CUSIP: H11356104<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |      4000 | NS      | $356320.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Juno Corp                      | Juno Corp.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    200000 | NS      | $582856.73    | 0.92%             |  |  |  | Yes           |                  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