# EDGAR Filing Document

**Accession Number:** 0000754811
**File Stem:** 0001062993-26-002995
**Filing Date:** 2026-6
**Character Count:** 6502
**Document Hash:** 85a1e59ec828fa465c4e65fbb8978a8f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-26-002995.hdr.sgml**: 20260602

**ACCESSION NUMBER**: 0001062993-26-002995

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260401

**FILED AS OF DATE**: 20260602

**DATE AS OF CHANGE**: 20260602

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Gator Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001570284

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-13928
- **FILM NUMBER:** 261056719

**BUSINESS ADDRESS:**
- **STREET 1:** 2502 N. ROCKY POINT DR.
- **STREET 2:** SUITE 665
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33607
- **BUSINESS PHONE:** 813-282-7870

**MAIL ADDRESS:**
- **STREET 1:** 2502 N. ROCKY POINT DR.
- **STREET 2:** SUITE 665
- **CITY:** TAMPA
- **STATE:** FL
- **ZIP:** 33607
**ISSUER**: 

**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

**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

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Gator Capital Management, LLC<br><sub>(Last) (First) (Middle)</sub><br>2502 N. ROCKY POINT DR. SUITE 665<br><sub>(Street)</sub><br>TAMPA, FL 33607<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>U S GLOBAL INVESTORS INC [ GROW ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2026-04-01 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [X] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Class A Common Stock (Non-Voting) | 1062474 | I | Investment adviser with discretion over multiple client accounts (See Footnotes)<sup>(1)(2)</sup> |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) This Form 3 is being filed jointly by Gator Capital Management, LLC and Derek Pilecki. Gator Capital Management, LLC is an investment adviser that exercises investment discretion over multiple client accounts holding shares of the Issuer. Derek Pilecki is the Managing Member and 100% owner of Gator Capital Management, LLC and may be deemed to indirectly beneficially own the shares held by the accounts managed by Gator Capital Management, LLC. Shares are held across the following accounts over which Gator Capital Management, LLC exercises investment discretion: Gator Financial Partners, LLC (916,799 shares); Gator Qualified Partners, LLC (64,753 shares); ECA Fund, LP (74,922 shares); Individual Managed Account (6,000 shares). Gator Capital Management, LLC and Derek Pilecki disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein

(2) This Form 3 is being filed late. The Reporting Person became subject to the reporting obligations under Section 16(a) of the Securities Exchange Act of 1934 on April 1, 2026, the date on which the Reporting Person's beneficial ownership of the Issuer's Class A Common Stock exceeded 10% of the shares outstanding. The Reporting Person had been monitoring its ownership percentage using the share count reported in the Issuer's quarterly Form 10-Q for the period ended September 30, 2025, filed with the Commission on November 12, 2025. The Reporting Person subsequently determined that the Issuer's quarterly Form 10-Q for the period ended December 31, 2025, filed with the Commission on February 20, 2026, reflected a reduction in shares outstanding resulting from the Issuer's share repurchase program, which caused the Reporting Person's beneficial ownership percentage to exceed 10% as of April 1, 2026. Upon making this determination, the Reporting Person promptly filed this Form 3.

**Signature:** /s/ Derek Pilecki  
**Date:** 2026-06-02

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**