U.S. Global Investors Inc. filings document formal disclosures for a registered investment adviser whose revenue is generated by investment management services. Recent Item 2.02 Form 8-K reports furnish quarterly and fiscal-year earnings releases, including assets under management, operating revenue, investment income and profitability for the advisory business.
The company’s Exchange Act filings also record dividend-related other events, fund and ETF strategy updates, and reporting-status matters such as Form 12b-25 notifications for delayed periodic reports. These filings provide the formal record of GROW’s operating results disclosures, corporate investment activity, shareholder distributions and public-company compliance obligations.
U.S. Global Investors, Inc. reported mixed second-quarter fiscal 2026 results for the period ended December 31, 2025. Total assets under management were about $1.5 billion, up 12% from the prior quarter and 5% from a year earlier, and had increased further to $1.7 billion by February 19.
Operating revenue rose to $2.51 million, an increase of $259,000, or 11.5%, from the prior quarter, while operating expenses fell versus the year-ago quarter. Income before taxes improved to $535,000 from a loss of $116,000 in the prior-year period.
Results were weighed down by a $1.38 million income tax expense tied to the tax treatment of certain HIVE Digital Technologies convertible securities, including a non-cash valuation allowance of approximately $471,000. Management expects an offsetting $1.3 million tax benefit in the quarter ending March 31, 2026, subject to IRS review, leading to a net loss of $846,000, or $(0.07) per share.
The company highlighted shareholder return efforts, citing a 9.89% shareholder yield as of December 31, 2025, a monthly dividend of $0.0075 per share authorized through March 2026, and repurchase of 262,195 shares during the quarter. Liquidity remained solid with net working capital of about $36.7 million and cash and cash equivalents of roughly $25.2 million.
U.S. Global Investors, Inc. reported modest profitability for the six months ended December 31, 2025, with net income of $661,000, up from $229,000 a year earlier, as stronger investment gains offset an operating loss.
Operating revenues rose to $4.8 million from $4.4 million, but the core investment management segment still posted an operating loss of $603,000. Net investment income improved to $2.8 million, driven by market gains on trading securities and other investments.
Results were volatile quarter to quarter: the December 2025 quarter showed a net loss of $846,000, largely due to $1.3 million of tax expense tied to HIVE convertible securities and a valuation allowance on capital loss carryforwards. The remaining HIVE debentures were paid off in December, realizing previously recorded losses.
The balance sheet remains conservative, with total assets of $47.2 million, including $26.2 million in cash, cash equivalents, and restricted cash, and low debt. The company continued returning capital, paying monthly dividends of $0.0075 per share and repurchasing 421,269 Class A shares for about $1.1 million in the six-month period.
Subsequent to December 31, 2025, the company recognized an additional unrealized gain of approximately $1.9 million on an equity investment and filed a tax accounting method change it expects will yield a tax benefit in the quarter ending March 31, 2026.
U.S. Global Investors, Inc. notified the SEC it cannot timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025 because it will file a tax accounting method change using Form 3115 related to convertible securities of HIVE purchased in January 2021.
The company expects to file the Quarterly Report within the five-calendar-day extension provided by Rule 12b-25 and expects to record a $1.3 million tax expense, including a $471,000 valuation allowance affecting results for the period ended December 31, 2025. The company expects an offsetting benefit and a reduction of the valuation allowance in the period ending March 31, 2026.
U.S. Global Investors CEO/CIO Frank E. Holmes, a director and more than 10% owner of GROW, reported buying 719 shares of Class A common stock on January 30, 2026 at $3.32 per share. This was a restricted stock purchase under an employee stock purchase plan.
After this transaction, Holmes directly owned 297,534 Class A shares, with additional indirect holdings of 32,862 shares in an IRA and 221,656.77 shares in a 401(k) account.
U.S. Global Investors CFO Lisa Callicotte reported a small share purchase in a Form 4 filing. On January 30, 2026, she acquired 285 shares of Class A common stock at $3.32 per share through a restricted stock purchase under the company’s employee stock purchase plan. Following this transaction, she directly owns 36,901 Class A shares. This reflects routine insider participation in an employee stock purchase program rather than a large discretionary trade.
U S Global Investors filed a Form 13F reporting institutional holdings totaling $933,957,324 across 158 entries. The report, signed by Lisa Callicotte, CFO, was executed in San Antonio, TX on 01-28-2026.
The Form 13F cover page shows this is a 13F holdings report and indicates no other included managers. The filing value is rounded to the nearest dollar as presented.
U.S. Global Investors, Inc. (Class A) received an amended Schedule 13G/A from Gator-related entities reporting a sizable passive ownership position as of 12/31/2025. Gator Capital Management, LLC and its managing member Derek Pilecki each report beneficial ownership of 833,091 Class A shares, representing 7.69% of the class, with shared voting and dispositive power over all of these shares and no sole power.
Gator Financial Partners, LLC reports 751,313 shares (6.94%), ECA Fund, LP reports 61,273 shares (0.57%), and Gator Qualified Partners, LLC reports 14,505 shares (0.13%), all with shared voting and dispositive power. The filing certifies that these securities were not acquired and are not held for the purpose of changing or influencing control of U.S. Global Investors.
U.S. Global Investors, Inc. (GROW) furnished earnings information via an 8-K under Item 2.02. The company reported results for its quarter ended September 30, 2025, provided through a press release attached as Exhibit 99.1. The company states this information is being furnished, not filed, under the Exchange Act and is not incorporated by reference unless expressly specified.
U.S. Global Investors (GROW) insider activity: the CEO/CIO, a director and 10% owner, reported acquiring 959 Class A shares on 10/31/2025 at $2.49 per share. The transaction is labeled Code J and described as a restricted stock purchase under an employee stock purchase plan.
Following the transaction, beneficial ownership stood at 294,848 shares direct, plus 32,862 shares held indirectly via an IRA and 221,656.77 shares held indirectly via a 401(k).
U.S. Global Investors (GROW) reported an insider transaction by its CFO, Lisa Callicotte. On 10/31/2025, she acquired 380 shares of Class A common stock at $2.49 (transaction code J), noted as a restricted stock purchase under the employee stock purchase plan. After this transaction, she directly owns 35,836 shares.