Gator Capital (GROW) discloses 10% indirect stake via client accounts
Rhea-AI Filing Summary
U S Global Investors, Inc. disclosed that investment adviser Gator Capital Management, LLC, together with its managing member Derek Pilecki, became a more than 10% beneficial owner of the company’s Class A Common Stock (Non-Voting) as of April 1, 2026.
The filing reports indirect beneficial ownership of 1,062,474 shares held across multiple client accounts over which Gator Capital Management has investment discretion. These include Gator Financial Partners, LLC with 916,799 shares, Gator Qualified Partners, LLC with 64,753 shares, ECA Fund, LP with 74,922 shares, and an individual managed account with 6,000 shares.
The 10% threshold was crossed after a reduction in U S Global Investors’ shares outstanding from its share repurchase program, as reflected in the company’s Form 10-Q for the period ended December 31, 2025. Gator Capital Management and Derek Pilecki disclaim beneficial ownership beyond their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Pilecki Derek Steven
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class A Common Stock (Non-Voting) | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock (Non-Voting) — 1,062,474 shares (Indirect, Investment adviser with discretion over multiple client accounts (See Footnotes))
Footnotes (2)
- F1. This Form 3 is being filed jointly by Derek Pilecki and Gator Capital Management, LLC. Derek Pilecki is the Managing Member and 100% owner of Gator Capital Management, LLC, an investment adviser that exercises investment discretion over multiple client accounts holding shares of the Issuer. Derek Pilecki may be deemed to indirectly beneficially own the shares held by the accounts managed by Gator Capital Management, LLC by virtue of his control of that entity. 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.
- F2. 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.
Key Figures
Indirectly owned shares: 1,062,474 shares
Gator Financial Partners holdings: 916,799 shares
Gator Qualified Partners holdings: 64,753 shares
+3 more
6 metrics
Indirectly owned shares
1,062,474 shares
Class A Common Stock (Non-Voting) under Gator Capital’s discretion
Gator Financial Partners holdings
916,799 shares
Client account managed by Gator Capital
Gator Qualified Partners holdings
64,753 shares
Client account managed by Gator Capital
ECA Fund holdings
74,922 shares
Client account managed by Gator Capital
Individual managed account holdings
6,000 shares
Individual managed account under Gator Capital’s discretion
Ownership threshold date
April 1, 2026
Date beneficial ownership exceeded 10% of shares outstanding
Key Terms
beneficially own, investment discretion, Section 16(a) of the Securities Exchange Act of 1934, pecuniary interest, +1 more
5 terms
beneficially own financial
"Derek Pilecki may be deemed to indirectly beneficially own the shares held by the accounts managed by Gator Capital Management, LLC"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
investment discretion financial
"an investment adviser that exercises investment discretion over multiple client accounts holding shares of the Issuer"
Section 16(a) of the Securities Exchange Act of 1934 regulatory
"became subject to the reporting obligations under Section 16(a) of the Securities Exchange Act of 1934"
pecuniary interest financial
"disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did the Form 3 filing for U S Global Investors (GROW) disclose?
The Form 3 shows that Gator Capital Management, LLC and Derek Pilecki became indirect beneficial owners of over 10% of U S Global Investors’ Class A Common Stock, reporting control over 1,062,474 non-voting shares held across multiple client accounts.
Why did Derek Pilecki and Gator Capital become 10% owners of GROW?
They crossed the 10% beneficial ownership threshold after U S Global Investors reduced its shares outstanding through a share repurchase program, as reflected in the December 31, 2025 Form 10-Q, which increased their ownership percentage without new share purchases.
Was the GROW Form 3 filing made on time by Derek Pilecki and Gator Capital?
The Form 3 was filed late. It explains that they became subject to Section 16(a) reporting on April 1, 2026 and, after recognizing the 10% status from updated share counts, they promptly submitted the initial ownership report.