Gator-managed accounts add U.S. Global Investors (GROW) non-voting shares in open-market buys

Rhea-AI Filing Summary

U.S. Global Investors, Inc. insider activity centers on investment adviser-controlled accounts buying additional non-voting Class A shares. Derek Steven Pilecki, identified as a control person, reported two open-market purchases totaling 20,826 shares of Class A Common Stock (Non-Voting) at prices around $2.60 per share. Following these trades, the filing shows aggregate beneficial ownership of 1,121,593 shares held across Gator Financial Partners, LLC, Gator Qualified Partners, LLC, ECA Fund, LP, and a managed account, where Gator Capital Management, LLC exercises investment discretion and disclaims beneficial ownership except for its pecuniary interest.

Insights

Equity ownership specialist

Adviser-controlled funds made modest open-market net share purchases.

The filing shows accounts over which Gator Capital Management, LLC exercises investment discretion buying 20,826 U.S. Global Investors non-voting Class A shares in open-market transactions around $2.60 per share. These are indirect holdings attributed to funds and a managed account.

Footnotes state aggregate beneficial ownership of 1,121,593 shares across four accounts and clarify that Gator Capital Management, LLC disclaims beneficial ownership beyond its pecuniary interest. With no derivatives reported and a single net-buy pattern, the activity appears routine portfolio management rather than a structural change.

Insider Trade Summary

Net Buyer: 20,826 shares ($54,035)

Net Buy 2 txns

Insider Pilecki Derek Steven

Role null

Bought 20,826 shs ($54K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock (Non-Voting)	330	$2.60	$858.00
Purchase	Class A Common Stock (Non-Voting)	20,496	$2.5945	$53K

Holdings After Transaction: Class A Common Stock (Non-Voting) — 1,121,593 shares (Indirect, Investment adviser with discretion over multiple client accounts (See Footnote 1, 2, 3, and 4))

Footnotes (1)

1. Shares purchased in Gator Financial Partners, LLC, an account over which Gator Capital Management, LLC exercises investment discretion. Shares purchased in ECA Fund, LP, an account over which Gator Capital Management, LLC exercises investment discretion. As of the date of this report, the Reporting Person's aggregate beneficial ownership of 1,121,593 shares is held across the following accounts: Gator Financial Partners, LLC (937,228 shares); Gator Qualified Partners, LLC (102,000 shares); ECA Fund, LP (76,365 shares); Managed Account (6,000 shares). Gator Capital Management, LLC disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein. The price reported is a weighted average price. The reporting person will provide full information regarding the number of shares purchased at each separate price upon request to the SEC staff or the issuer.

Key Figures

Shares bought 2026-06-03: 330 shares at $2.6000 Shares bought 2026-06-02: 20,496 shares at $2.5945 Total net shares bought: 20,826 shares +3 more

6 metrics

Shares bought 2026-06-03 330 shares at $2.6000 Open-market purchase of Class A Common Stock (Non-Voting)

Shares bought 2026-06-02 20,496 shares at $2.5945 Open-market purchase at weighted average price

Total net shares bought 20,826 shares Two open-market purchases of non-derivative Class A shares

Aggregate beneficial ownership 1,121,593 shares Held across four Gator-managed accounts as of report date

Gator Financial Partners, LLC holdings 937,228 shares Portion of aggregate beneficial ownership in one account

ECA Fund, LP holdings 76,365 shares Part of aggregate beneficial ownership across accounts

Key Terms

open-market purchase, beneficial ownership, investment discretion, weighted average price, +1 more

5 terms

open-market purchase financial

"transaction_action: open-market purchase"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

beneficial ownership financial

"the Reporting Person's aggregate beneficial ownership of 1,121,593 shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

investment discretion financial

"an account over which Gator Capital Management, LLC exercises investment discretion"

weighted average price financial

"The price reported is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

pecuniary interest financial

"disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein"

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Pilecki Derek Steven

(Last) (First) (Middle)

2502 N. ROCKY POINT DR.

SUITE 665

(Street)

TAMPA FLORIDA 33607

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
U S GLOBAL INVESTORS INC [ GROW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Control Person

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock (Non-Voting)	06/02/2026		P		20,496	A	$2.5945	1,121,263	I	Investment adviser with discretion over multiple client accounts (See Footnote 1, 2, 3, and 4)(1)(2)(3)(4)
Class A Common Stock (Non-Voting)	06/03/2026		P		330	A	$2.6	1,121,593	I	Investment adviser with discretion over multiple client accounts (See Footnote 1, 2, 3, and 4)(1)(2)(3)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares purchased in Gator Financial Partners, LLC, an account over which Gator Capital Management, LLC exercises investment discretion.

2. Shares purchased in ECA Fund, LP, an account over which Gator Capital Management, LLC exercises investment discretion.

3. As of the date of this report, the Reporting Person's aggregate beneficial ownership of 1,121,593 shares is held across the following accounts: Gator Financial Partners, LLC (937,228 shares); Gator Qualified Partners, LLC (102,000 shares); ECA Fund, LP (76,365 shares); Managed Account (6,000 shares). Gator Capital Management, LLC disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein.

4. The price reported is a weighted average price. The reporting person will provide full information regarding the number of shares purchased at each separate price upon request to the SEC staff or the issuer.

	/s/ Derek Pilecki	06/04/2026
	** Signature of Reporting Person	Date
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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Derek Steven Pilecki report in this U S Global Investors (GROW) Form 4?

He reported indirect open-market purchases of 20,826 shares of U S Global Investors Class A Common Stock (Non-Voting) at prices around $2.60 per share, through accounts where Gator Capital Management, LLC has investment discretion but only a pecuniary interest.

Are the GROW shares in this Form 4 held directly by Derek Steven Pilecki?

No, the shares are held in accounts such as Gator Financial Partners, LLC, Gator Qualified Partners, LLC, ECA Fund, LP, and a managed account, where Gator Capital Management, LLC exercises investment discretion and disclaims beneficial ownership beyond its pecuniary interest.

How many U S Global Investors shares are beneficially owned in total in this filing?

The filing states aggregate beneficial ownership of 1,121,593 shares of U S Global Investors Class A Common Stock (Non-Voting), held across four accounts managed by Gator Capital Management, LLC, including 937,228 shares in Gator Financial Partners, LLC and 102,000 in Gator Qualified Partners, LLC.

What prices were paid for the GROW shares in these reported transactions?

The reported transactions show purchases at approximately $2.6000 and a weighted average price of $2.5945 per share. A footnote explains that the $2.5945 figure is a weighted average and that full price breakdowns are available from the reporting person upon request.

What is the nature of ownership over the GROW shares in this Form 4?

Ownership is reported as indirect, with Gator Capital Management, LLC acting as investment adviser with discretion over multiple client accounts. The firm disclaims beneficial ownership of the securities except to the extent of its pecuniary interest, meaning it manages but does not fully own the positions.

Does this Form 4 include any derivative securities or option exercises for GROW?

No, the transactions disclosed involve only non-derivative Class A Common Stock (Non-Voting). The derivative securities section is empty in this filing, and the transaction summary shows no derivative exercises or derivative transactions of any kind.