U S GLOBAL INVESTORS INC
Business
U.S. Global Investors, Inc. is a registered investment adviser that provides investment management and advisory services to mutual funds and exchange-traded funds. The company offers portfolio management, investment advisory services, and administrative services to U.S. Global Investors Funds and multiple ETF clients covering sectors including airlines, travel, cargo, gold, precious metals, natural resources, and technology/aerospace & defense. The company also invests for its own account through its Corporate Investments segment and operates through two reportable business segments: Investment Management Services and Corporate Investments.
Summary from 10-K filed 2025-09-08
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Revenues | 8 | 11 | 15 | 25 | 22 | |
| Employee compensation and benefits | 5 | 5 | 5 | 6 | 7 | |
| General and administrative | 6 | 6 | 6 | 7 | 6 | |
| Advertising | 650,000 | 404,000 | 382,000 | 405,000 | 220,000 | |
| Depreciation | 61,000 | 196,000 | 243,000 | 226,000 | 196,000 | |
| Interest | 1,000 | 3,000 | 4,000 | — | — | |
| Total Operating Expenses | 11 | 11 | 12 | 14 | 13 | |
| Operating Income (Loss) | −3 | −480,000 | 4 | 11 | 8 | |
| Net investment income (loss) | 2 | 2 | 316,000 | −6 | 28 | |
| Other Nonoperating Income | 331,000 | 251,000 | 242,000 | 235,000 | 144,000 | |
| Total Other Income (Loss) | 3 | 2 | 558,000 | −6 | 29 | |
| Income (Loss) Before Income Taxes | −262,000 | 2 | 4 | 5 | 37 | |
| Tax expense (benefit) | 72,000 | 582,000 | 934,000 | 2 | 5 | |
| Net Income (Loss) | −334,000 | 1 | 3 | 3 | 32 | |
| Basic Net Income (Loss) per Share (in dollars per share) | −0.03 | 0.09 | 0.22 | 0.23 | 2.12 | |
| Diluted Net Income (Loss) per Share (in dollars per share) | −0.03 | 0.09 | 0.22 | 0.23 | 2.12 | |
| Basic weighted average number of common shares outstanding (in shares) | 13 | 14 | 15 | 15 | 15 | |
| Diluted weighted average number of common shares outstanding (in shares) | 13 | 14 | 15 | 15 | 15 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 25 | 27 | 25 | 22 | 14 | |
| Restricted cash | 1 | 1 | 1 | 1 | 1 | |
| Investments in trading securities at fair value, current | 10 | 10 | 12 | 12 | 6 | |
| Accounts and other receivables (net of allowance for credit losses of $0, and $0, respectively) | 1 | 1 | 1 | 2 | 3 | |
| Receivable for investment principal repayments (net of allowance for credit losses of $0, and $0, respectively) | 750,000 | 0 | — | — | — | |
| Tax receivable | 2 | 729,000 | 576,000 | 384,000 | 2 | |
| Prepaid expenses | 549,000 | 498,000 | 510,000 | 400,000 | 350,000 | |
| Total Current Assets | 39 | 40 | 40 | 38 | 27 | |
| Net Property and Equipment | 1 | 1 | 1 | 1 | 1 | |
| Deferred tax asset | 1 | 2 | 2 | 872,000 | 0 | |
| Investments in trading securities at fair value, non-current | 2 | 1 | 2 | — | — | |
| Investments in available-for-sale debt securities at fair value (amortized cost: $3,993, and $6,204, respectively) (net of allowance for credit losses of $0, and $0, respectively) | 2 | 4 | 7 | 11 | 17 | |
| Investments in held-to-maturity debt securities at amortized cost | 1 | 1 | 1 | — | — | |
| Less: Allowance for credit losses | −52,000 | −132,000 | 0 | — | — | |
| Investments in held-to-maturity debt securities, net of allowance for credit losses | 948,000 | 868,000 | 1 | 1 | 1 | |
| Other investments | 1 | 2 | 2 | 4 | 3 | |
| Financing lease, right of use assets | 8,000 | 38,000 | 65,000 | 93,000 | 0 | |
| Other assets, non-current | 199,000 | 203,000 | 217,000 | 216,000 | 99,000 | |
| Total Other Assets | 8 | 10 | 14 | 19 | 34 | |
| Total Assets | 48 | 52 | 56 | 58 | 62 | |
| Accounts payable | 10,000 | 14,000 | 143,000 | 73,000 | 102,000 | |
| Accrued compensation and related costs | 469,000 | 609,000 | 1 | 2 | 2 | |
| Dividends payable | 296,000 | 313,000 | 329,000 | 337,000 | 226,000 | |
| Financing lease liability, short-term | 8,000 | 31,000 | 28,000 | 27,000 | 0 | |
| Other accrued expenses | 1 | 1 | 1 | 2 | 1 | |
| Total Current Liabilities | 2 | 2 | 3 | 4 | 5 | |
| Deferred tax liability | 17,000 | 0 | 4,000 | 0 | 3 | |
| Reserve for uncertain tax positions | 891,000 | 785,000 | 671,000 | 379,000 | — | |
| Notes payable | 75,000 | 0 | — | — | — | |
| Financing lease liability, long-term | 0 | 8,000 | 38,000 | 66,000 | 0 | |
| Total Long-Term Liabilities | 983,000 | 793,000 | 713,000 | 445,000 | 3 | |
| Total Liabilities | 3 | 3 | 4 | 5 | 8 | |
| Commitments and Contingencies (Note 17) | — | — | — | — | — | |
| Additional paid-in-capital | 17 | 16 | 16 | 16 | 16 | |
| Treasury stock, class A shares at cost; 2,884,312 and 2,113,516 shares at June 30, 2025, and June 30, 2024, respectively | −8 | −6 | −4 | −3 | −2 | |
| Accumulated other comprehensive income, net of tax | 98,000 | 584,000 | 1 | 4 | 7 | |
| Retained earnings | 36 | 37 | 38 | 36 | 34 | |
| Total Shareholders Equity | 45 | 49 | 52 | 54 | 54 | |
| Total Liabilities and Shareholders Equity | 48 | 52 | 56 | 58 | 62 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Depreciation, amortization and accretion | −118,000 | −139,000 | −246,000 | −419,000 | 374,000 | |
| Net realized (gains) losses on securities | −418,000 | 6 | −1 | — | — | |
| Unrealized (gains) losses on securities | 247,000 | −6 | 2 | 12 | −10 | |
| Provision for deferred taxes | 709,000 | 335,000 | −440,000 | −3 | 1 | |
| Reserve for uncertain tax positions | 106,000 | 114,000 | 117,000 | — | — | |
| Share-based compensation expense | 124,000 | 0 | 0 | 733,000 | 43,000 | |
| Allowance for credit losses | −80,000 | −100,000 | 0 | — | — | |
| Accounts and other receivables | −800,000 | 45,000 | 359,000 | 3 | −4 | |
| Prepaid expenses and other assets | −17,000 | 53,000 | −82,000 | −217,000 | −22,000 | |
| Accounts payable and accrued expenses | −241,000 | −796,000 | −1 | −688,000 | 3 | |
| Total adjustments | −488,000 | −343,000 | −239,000 | 7 | −27 | |
| Net cash provided by (used in) operating activities | −822,000 | 990,000 | 3 | 11 | 5 | |
| Purchase of property and equipment | −7,000 | −213,000 | −14,000 | −220,000 | −73,000 | |
| Purchase of trading securities at fair value, non-current | −1 | −234,000 | 0 | −123,000 | −6 | |
| Purchase of other investments | 0 | −573,000 | −663,000 | −620,000 | −863,000 | |
| Proceeds from principal paydowns of available-for-sale debt securities at fair value | 2 | 3 | 3 | 3 | 1 | |
| Return of capital on non-current investments | 24,000 | 0 | — | — | — | |
| Return of capital on other investments | −24,000 | 259,000 | 0 | 9,000 | 0 | |
| Net cash provided by (used in) investing activities | 1 | 4 | 3 | −1 | 9 | |
| Principal payments on financing lease | −33,000 | −30,000 | −27,000 | 0 | — | |
| Proceeds from notes payable | 75,000 | 0 | — | — | — | |
| Issuance of common stock | 73,000 | 69,000 | 59,000 | 53,000 | 13,000 | |
| Repurchases of common stock | −2 | −2 | −1 | −452,000 | −314,000 | |
| Excise tax paid on repurchases of common stock | −20,000 | 0 | — | — | — | |
| Dividends paid | −1 | −1 | −1 | −1 | −640,000 | |
| Net cash provided by (used in) financing activities | −3 | −3 | −2 | −2 | −941,000 | |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | −3 | 2 | 3 | 8 | 12 | |
| Unsettled class A common stock repurchases | 10,000 | 14,000 | 0 | — | — | |
| Cash paid for income taxes | 134,000 | 252,000 | 1 | 4 | 5 | |
| Cash paid for interest | 1,000 | 3,000 | 4,000 | 0 | — |
Filings
Material Events
Insiders
Institutional Holders
Holdings (13F)
Portfolio as of 2026-03-31 · 162 positions
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $857.51M | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| DELTA AIR LI | — | 1.17M | $77.90M | 9.1% |
| UNITED AIRLINES | — | 784.6K | $72.24M | 8.4% |
| AMERICAN AIRLINE | — | 6.44M | $69.11M | 8.1% |
| SOUTHWEST AIR | — | 1.67M | $62.68M | 7.3% |
| JETBLUE AIRWAYS | — | 5.54M | $24.50M | 2.9% |
| ALLEGIANT TRAVEL | — | 299.2K | $24.25M | 2.8% |
| FRONTIER GROUP H | — | 6.78M | $23.94M | 2.8% |
| SKYWEST INC | — | 257.6K | $23.65M | 2.8% |
| ALASKA AIR GROUP | — | 596.6K | $21.94M | 2.6% |
| ROYAL GOLD INC | — | 80.0K | $20.36M | 2.4% |
Frequently asked questions
What is U S GLOBAL INVESTORS INC's CIK number?
U S GLOBAL INVESTORS INC's SEC CIK number is 0000754811 (754811). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find U S GLOBAL INVESTORS INC's SEC filings?
All of U S GLOBAL INVESTORS INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did U S GLOBAL INVESTORS INC last report earnings?
U S GLOBAL INVESTORS INC (GROW) most recently filed an earnings 8-K with the SEC on Jun 8, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437749-26-019804). This is U S GLOBAL INVESTORS INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is U S GLOBAL INVESTORS INC's most recent earnings 8-K?
U S GLOBAL INVESTORS INC's latest earnings 8-K (Item 2.02) was filed Jun 8, 2026 under accession 0001437749-26-019804. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
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