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U S GLOBAL INVESTORS INC

U S GLOBAL INVESTORS INC is a registered investment adviser under the Investment Advisers Act of 1940.1 It is headquartered in San Antonio, Texas.1 Its shares trade on Nasdaq under the symbol GROW.1

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Last updated Oct 21, 2026.

Overview

$14.4MRevenue, fiscal 20262
$3.1MNet income, fiscal 20262

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  • TickerGROW on Nasdaq1
  • IndustryInvestment Advice1
  • HeadquartersSan Antonio, Texas1
  • Incorporated inTX3
  • Business address7900 Callaghan Rd, San Antonio, Tx 782293
  • Filer categoryNon-accelerated filer, Smaller reporting company3

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U.S. Global, a Texas corporation organized in 1968, is a registered investment adviser under the Investment Advisers Act of 1940, as amended (“Advisers Act”). The Company, with principal operations located in San Antonio, Texas, manages two business segments:4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

25.0%Gross margin2
-4.2%Operating margin2
21.2%Net margin2
32.8%Revenue growth, 20262
6.8%Return on equity2
$682.0KFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Other costs73¢$10.5M
  • Income tax6¢$829.0K
  • Profit21¢$3.1M

Out of $14.4M in revenue.2

Where each dollar of operating cash went, fiscal 2026

  • Capital spending2¢$60.0K
  • Dividends paid36¢$1.1M
  • Share buybacks62¢$2.0M

Out of $742.0K of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue56789102$14.4M in 2026+316% since 2019
0$10.0M$20.0M$30.0M2019: $3.5M$3.5M20192020: $4.5M$4.5M2020+29%2021: $21.7M$21.7M2021+384%2022: $24.7M$24.7M2022+14%2023: $15.1M$15.1M2023−39%2024: $11.0M$11.0M2024−27%2025: $10.8M$10.8M2025−1%2026: $14.4M$14.4M2026+33%
Gross profit2$3.6M in 2026
-$2.0M0$2.0M$4.0M2025: -$531.0K-$531.0K20252026: $3.6M$3.6M2026
Operating income56789102-$603.0K in 2026−78% since 2019
-$5.0M0$5.0M$10.0M$15.0M2019: -$2.8M-$2.8M20192020: -$2.4M-$2.4M2020−13%2021: $8.2M$8.2M20212022: $11.1M$11.1M2022+36%2023: $3.5M$3.5M2023−68%2024: -$480.0K-$480.0K20242025: -$3.0M-$3.0M2025+522%2026: -$603.0K-$603.0K2026−80%
Net income56789102$3.1M in 2026
-$10.0M0$10.0M$20.0M$30.0M$40.0M2019: -$3.4M-$3.4M20192020: -$4.7M-$4.7M2020+38%2021: $32.0M$32.0M20212022: $3.4M$3.4M2022−89%2023: $3.1M$3.1M2023−8%2024: $1.3M$1.3M2024−58%2025: -$334.0K-$334.0K20252026: $3.1M$3.1M2026
Fiscal year20192020202120222023202420252026
Revenue$3.5M5$4.5M6$21.7M7$24.7M8$15.1M9$11.0M10$10.8M2$14.4M2
Gross profit-$531.0K2$3.6M2
Operating expenses$13.6M8$11.5M9$11.5M10$11.4M2$10.9M2
Operating income-$2.8M5-$2.4M6$8.2M7$11.1M8$3.5M9-$480.0K10-$3.0M2-$603.0K2
Interest$08$4.0K8
Income before tax$5.0M8$4.1M9$1.9M10-$262.0K2$3.9M2
Income tax-$977.0K5-$175.0K6$5.5M7$1.5M8$934.0K9$582.0K10$72.0K2$829.0K2
Net income-$3.4M5-$4.7M6$32.0M7$3.4M8$3.1M9$1.3M10-$334.0K2$3.1M2
Earnings per share-$0.225-$0.316$2.127$0.238$0.229$0.0910-$0.032$0.242
Earnings per share (diluted)-$0.225-$0.316$2.127$0.238$0.229$0.0910-$0.032$0.242
Shares (weighted, basic)15.0M shares814.6M shares914.2M shares1013.3M shares212.7M shares2
Shares (weighted, diluted)15.0M shares814.6M shares914.2M shares1013.3M shares212.7M shares2

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Corporate structure

U S GLOBAL INVESTORS INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of U S GLOBAL INVESTORS INC

  • U S GLOBAL INVESTORS INC San Antonio, Texas

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What U S GLOBAL INVESTORS INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$5.9M2 Jun 30, 2026$5.8M2 Jun 30, 2025+1.0%
Accumulated depreciation$4.7M2 Jun 30, 2026$4.7M2 Jun 30, 2025+0.9%
Property and equipment, net$1.1M2 Jun 30, 2026$1.1M2 Jun 30, 2025+1.5%
Finance-lease assets$65.0K2 Jun 30, 2026$8.0K2 Jun 30, 2025+712.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$24.3M2 Jun 30, 2026$24.6M2 Jun 30, 2025−0.9%
Marketable securities, current$8.9M2 Jun 30, 2026$9.7M2 Jun 30, 2025−8.5%
Marketable securities, non-current$2.9M2 Jun 30, 2026$2.5M2 Jun 30, 2025+15.1%
Debt securities available for sale$02 Mar 31, 2026$4.4M9 Jun 30, 2024−100.0%
Debt securities held to maturity$1.0M2 Jun 30, 2026$1.0M2 Jun 30, 20250%

Properties, in its own words

The Company presently owns and occupies an office building as its headquarters in San Antonio, Texas. The office building is approximately 46,000 square feet on approximately 2.5 acres of land.

Item 2 of the 10-K filed Sep 3, 2026.4

Leadership

Who has led U S GLOBAL INVESTORS INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Frank E. Holmes2006–now

President

  1. Susan B. McGee2006–2018

Chief financial officer

  1. Catherine Ann Rademacher2006–2013
  2. Lisa Callicotte2013–now
2010201520202025
Board members and other officers (6)

Former names

  • UNITED SERVICES ADVISORS INC /TX/Sep 28, 1995 to Jan 30, 19963

Timeline

  1. Sep 3, 20268-K Results of operations24
  2. Jun 8, 20268-K Results of operations25
  3. Jun 2, 20268-K Earlier financial statements no longer reliable26
  4. May 13, 20268-K Results of operations27
  5. Feb 20, 20268-K Results of operations28
  6. Nov 12, 20258-K Results of operations29
  7. Sep 8, 20258-K Results of operations30
  8. Jun 26, 20258-K Other events31
  9. May 9, 20258-K Results of operations32
  10. Feb 12, 20258-K Results of operations33
  11. Jan 29, 20258-K Executive or director change34
  12. Nov 7, 20248-K Results of operations35
  13. Jan 4, 2006New chief executive Frank E. Holmes becomes CEO16

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/202636
  2. Nov 16, 2026Dividend Ex-dividend; $0.0075 a share; paid 2026-11-30.37
  3. Dec 14, 2026Dividend Ex-dividend; $0.0075 a share; paid 2026-12-28.37

When it reported results

  1. Sep 3, 2026Reported quarterly or annual results24
  2. Jun 8, 2026Reported quarterly or annual results25
  3. May 13, 2026Reported quarterly or annual results27
  4. Feb 20, 2026Reported quarterly or annual results28
  5. Nov 12, 2025Reported quarterly or annual results29
  6. Sep 8, 2025Reported quarterly or annual results30
  7. May 9, 2025Reported quarterly or annual results32
  8. Feb 12, 2025Reported quarterly or annual results33

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

229 filings to the SEC since October 2021: 10 annual reports, 19 quarterly reports, 36 major events, 129 insider forms, 10 large holders, 25 other. The latest 20:

  1. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 3, 20268-K EDGAR
  4. Sep 3, 202610-K EDGAR
  5. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 3, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 3, 20264 PRIMARY DOCUMENT EDGAR
  9. Jul 27, 202613F-HR EDGAR
  10. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  11. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 8, 20268-K EDGAR
  13. Jun 5, 202610-Q/A EDGAR
  14. Jun 4, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  15. Jun 4, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  16. Jun 2, 20268-K EDGAR
  17. Jun 2, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  18. Jun 2, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  19. Jun 2, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  20. Jun 2, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR

The 229 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

23 open-market trades by officers, directors and large owners since October 2021: 23 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 3, 2026Pilecki Derek StevenBuy330$2.60$858Form 4
Jun 3, 2026Gator Capital Management, LLC10% ownerBuy330$2.60$858Form 4
Jun 2, 2026Pilecki Derek StevenBuy20,496$2.59$53.1KForm 4
Jun 2, 2026Gator Capital Management, LLC10% ownerBuy20,496$2.59$53.1KForm 4
May 28, 2026Gator Capital Management, LLC10% ownerBuy1,376$2.60$3.6KForm 4
May 28, 2026Pilecki Derek StevenBuy1,376$2.60$3.6KForm 4
May 21, 2026Gator Capital Management, LLC10% ownerBuy23,910$2.55$61.0KForm 4
May 21, 2026Pilecki Derek StevenBuy23,910$2.55$61.0KForm 4
May 13, 2026Gator Capital Management, LLC10% ownerBuy3,601$2.55$9.2KForm 4
May 13, 2026Pilecki Derek StevenBuy3,601$2.55$9.2KForm 4
May 12, 2026Gator Capital Management, LLC10% ownerBuy404$2.55$1.0KForm 4
May 12, 2026Pilecki Derek StevenBuy404$2.55$1.0KForm 4
May 11, 2026Gator Capital Management, LLC10% ownerBuy5,354$2.62$14.0KForm 4
May 11, 2026Pilecki Derek StevenBuy5,354$2.62$14.0KForm 4
May 8, 2026Gator Capital Management, LLC10% ownerBuy208$2.62$545Form 4
May 8, 2026Pilecki Derek StevenBuy208$2.62$545Form 4
May 7, 2026Gator Capital Management, LLC10% ownerBuy2,976$2.62$7.8KForm 4
May 7, 2026Pilecki Derek StevenBuy2,976$2.62$7.8KForm 4
May 6, 2026Gator Capital Management, LLC10% ownerBuy259$2.61$676Form 4
May 6, 2026Pilecki Derek StevenBuy259$2.61$676Form 4

All 23 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 36. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Gator Capital Management, LLC1,121,593$3.5M0.8%+80,219
CWA Asset Management Group, LLC707,235$2.2M0.1%+77,741
Vanguard Capital Management LLC508,207$1.6M0.0%−8,874
North Star Investment Management Corp.406,000$1.3M0.1%No change
BlackRock, Inc.308,300$961.9K0.0%No change
Renaissance Technologies LLC204,015$636.5K0.0%+11,300
Geode Capital Management, LLC131,480$410.3K0.0%+15,999
Rothschild Wealth LLC121,965$380.5K0.0%−1,002
Citadel Advisors LLC113,071$352.8K0.0%+67,427
Susquehanna International Group, Llp81,957$255.7K0.0%+15,105
Dimensional Fund Advisors LP66,605$207.8K0.0%+7,905
Vanguard Fiduciary Trust Co60,275$188.1K0.0%+407
State Street Corp56,002$174.7K0.0%No change
Proficio Capital Partners LLC54,578$170.3K0.0%+10,785
Bridgeway Capital Management, LLC53,929$168.3K0.0%No change
Smh Capital Advisors Inc40,191$125.4K0.5%−889
MAI Capital Management37,000$115.4K0.0%No change
Empowered Funds, LLC33,929$105.9K0.0%No change
Northern Trust Corp21,327$66.5K0.0%No change
Kestra Private Wealth Services, LLC17,800$55.5K0.0%−21
Samalin Investment Counsel, LLC12,006$37.5K0.0%−537
XTX Topco Ltd11,738$36.6K0.0%−4,952
LRI Investments, LLC10,000$31.2K0.0%New
Vanguard Global Advisers, LLC5,224$16.3K0.0%No change
UBS Group AG1,703$5.3K0.0%+1,609

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How U S GLOBAL INVESTORS INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARU S GLOBAL INVESTORS INC1
  • CIK0000754811
  • Employer ID (EIN)74-15983704
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inTexas4
  • Fiscal year endsJune 301
  • Industry code (SIC)6282 Investment Advice1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address7900 Callaghan Rd, San Antonio, TX 782291
  • Mailing address7900 Callaghan Road, San Antonio, TX 782291
  • Phone21030812341
  • Shares outstanding10,229,647 Common Class A shares; 2,068,549 Common Class C shares as of Aug 20, 20264
  • Public float$20.4M as of Dec 31, 20254
  • AuditorGrant Thornton LLP, Dallas, Texas PCAOB ID 248; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMay 15, 19951
  • Filings2,085 in all: 4 (1,408), 8-K (133), SC 13G (126), 13F-HR (110), 10-Q (94), SC 13G/A (44), 10-K (27), 4/A (23)1
    All 40 form types

    11-K (16), 10-Q/A (12), 13F-HR/A (9), S-8 (8), 10-K/A (6), S-8 POS (6), 10-K405 (5), 3 (5), SCHEDULE 13G/A (5), 5 (4), 8-K/A (4), NT 10-Q (4), UPLOAD (4), 10-C (3), 40-APP (3), CORRESP (3), NT 10-K (3), 40-APP/A (2), 497 (2), DEFA14A (2), SC 13D (2), SCHEDULE 13G (2), 144 (1), 424B3 (1), 5/A (1), APP NTC (1), APP ORDR (1), DEF 14A (1), POS AM (1), PRE 14A (1), S-3 (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Sep 3, 2026
    Quarterly report (10-Q) May 13, 2026
    Proxy statement (DEF 14A) Nov 21, 2006
    Latest 8-K (8-K) Sep 3, 2026

Securities registered for trading

ClassSymbolExchange
Class A common stock, $0.025 par value per shareGROWNASDAQ

From the cover page of the 10-K filed Sep 3, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks U S GLOBAL INVESTORS INC names in Item 1A of its 10-K filed Sep 3, 2026: 26 risks under these headings, as written.4

  • The Company faces a variety of significant and diverse risks, many of which are inherent in the business. Described below are certain risks that could materially affect the Company. Other risks and uncertainties that the Company does not presently consider to be material, or of which the Company is not presently aware, may become important factors that affect it in the future. The occurrence of any of the risks discussed below could materially and adversely affect the business, prospects, financial condition, results of operations, or cash flow.
  • The investment management business is intensely competitive.
  • Failure to comply with government regulations could result in fines, which could cause the Company’s earnings and stock price to decline.
  • Increased regulatory and legislative actions and reforms could increase costs and negatively impact the Company’s profitability and future financial results.
  • New tax legislation or changes to existing tax laws, our failure to adequately comply with tax laws, or the outcome of any audits or regulatory disputes with respect to our compliance with tax law could adversely affect us.
  • Investment Company Act - Certain changes in control of the Company would automatically terminate our investment management agreements with our client unless the funds' boards of directors and shareholders vote to continue the agreements.
  • Risks Related to Our Common Stock
  • One person beneficially owns substantially all of our voting stock and controls the outcome of all matters requiring a vote of stockholders, which may influence the value of our publicly traded non-voting stock.
  • The market price and trading volume of the Company’s class A common stock may be volatile, which could result in rapid and substantial losses for the Company’s stockholders.
  • The market price of the Company’s class A common stock could decline due to the large number of shares of the Company’s class C common stock eligible for future sale upon conversion to class A shares.
  • The Company intends to pay regular dividends to its stockholders, but the ability to do so is subject to the discretion of the Board of Directors.
  • Acquisitions involve inherent risks that could compromise the success of the combined business and dilute the holdings of current stockholders.
The other 15 risks
  • Risks Related to Our Operations
  • Natural disasters, epidemics, pandemics, and other unpredictable events could adversely affect our operations.
  • The loss of key personnel could negatively affect the Company’s financial performance.
  • The Company could be subject to losses if it fails to properly safeguard sensitive and confidential information.
  • We rely upon certain critical information systems for the operation of our business, and the failure of any critical information system, including a cybersecurity breach, may result in harm to our business.
  • Higher insurance premiums and related insurance coverage risks could increase costs and reduce profitability.
  • We have identified a material weakness in our internal control over financial reporting, which could adversely affect our ability to report our financial results accurately and on a timely basis.
  • Risks Related to Assets Under Management
  • Poor investment performance could lead to a decline in revenues.
  • The Company’s clients can terminate their agreements with the Company on short notice, which may lead to unexpected declines in revenue and profitability.
  • The Company derives a substantial portion of revenue from one fund under management.
  • Difficult market conditions can adversely affect the Company by reducing the market value of the assets we manage or causing shareholders to make significant redemptions.
  • Market-specific risks may negatively impact the Company’s earnings.
  • Risks Related to Our Corporate Investments
  • Investment income and assets may be negatively impacted by fluctuations in the Company’s corporate investments.
  • The Company has indirect exposure to the cryptocurrency markets through its investments.
  • Adverse changes in foreign currencies could negatively impact financial results.
  • Regulatory developments such as the GENIUS Act may adversely impact companies in which we invest.

Legal proceedings

There are no material legal proceedings in which the Company is involved.

The opening of Item 3, Legal Proceedings.4

Sources

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