U S GLOBAL INVESTORS INC

U.S. Global Investors, Inc. (NASDAQ: GROW) operates as a registered investment adviser under the Investment Advisers Act of 1940, managing investment products and providing advisory services through its website at www.usfunds.com. The company, organized in 1968, maintains principal operations in San Antonio, Texas, and operates two primary business segments: Investment Management Services and Corporate Investments.

The Investment Management Services segment generates revenue through investment advisory services and administrative services provided to U.S. Global Investors Funds (USGIF) and exchange-traded funds (ETFs). The company manages assets across multiple investment categories including airline and travel-related securities, precious metals and natural resources, technology and aerospace & defense, international equities, and fixed income products. As of June 30, 2026, the company managed total assets under management of approximately $1.67 billion, with the U.S. Global Jets ETF representing the largest single product. The company's fund offerings include both mutual funds and ETFs, with advisory agreements generally subject to annual renewal and terminable on short notice.

The Corporate Investments segment involves the company investing for its own account to enhance returns on its cash position and overall financial performance. The company holds a significant portion of its total assets in corporate investments, including indirect exposure to cryptocurrency markets through securities of issuers with cryptocurrency industry operations.

U.S. Global employs 21 full-time employees and competes in the highly competitive investment management industry against substantially larger firms, commercial banks, broker-dealers, and insurance companies. The company has developed particular expertise in gold mining and exploration, natural resources, and airline industry investments. The company's business model depends on investment performance, quality of client service, effective marketing, and the ability to maintain and grow assets under management. Revenue is primarily derived from management and administrative fees based on assets under management, supplemented by investment income from corporate holdings. The company's class A common stock trades on the NASDAQ Capital Market, while voting control is concentrated in class C shares.