Gator-led group reports 1,041,374 Class A shares — U.S. Global (GROW)

Rhea-AI Filing Summary

U.S. Global Investors, Inc. ownership disclosure: a group led by Gator Capital Management, LLC and associated entities reports beneficial ownership of Class A shares. Gator Capital Management, LLC and Derek Pilecki each report 1,041,374 shares (9.93%). The filing is a joint Schedule 13G/A.

Key Figures

CUSIP: 902952100 Gator Capital shares: 1,041,374 shares Percent of Class A: 9.93% +3 more

6 metrics

CUSIP 902952100 Class A shares identifier

Gator Capital shares 1,041,374 shares Amount beneficially owned by Gator Capital Management, LLC (as of 03/31/2026)

Percent of Class A 9.93% Percent of Class A reported for Gator Capital Management, LLC / Derek Pilecki

Gator Financial Partners shares 916,799 shares Amount beneficially owned by Gator Financial Partners, LLC

ECA Fund shares 74,922 shares Amount beneficially owned by ECA Fund, LP

Gator Qualified Partners shares 43,653 shares Amount beneficially owned by Gator Qualified Partners, LLC

Key Terms

Schedule 13G/A, Beneficial ownership, Shared dispositive power

3 terms

Schedule 13G/A regulatory

"Item 1. (a) Name of issuer: U.S. GLOBAL INVESTORS, INC."

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership financial

"Item 4. (a) Amount beneficially owned: Gator Capital Management, LLC 1,041,374"

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.

Shared dispositive power financial

"Shared Dispositive Power 1,041,374.00"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 07:07 AM Learn about SEC filing dates

FAQ

How many Class A shares of U.S. Global Investors (GROW) does Gator Capital Management own?

Gator Capital Management, LLC reports beneficial ownership of 1,041,374 Class A shares, representing 9.93% of the class. The amount and percent are disclosed in the Schedule 13G/A signed and dated 03/31/2026.

Who are the filing parties named in the Schedule 13G/A for GROW?

The filing parties are Gator Capital Management, LLC, Derek Pilecki, Gator Financial Partners, LLC, ECA Fund, LP, and Gator Qualified Partners, LLC, filing jointly under a Joint Filing Agreement dated July 1, 2025.

What percent of Class A shares does Gator Financial Partners report owning?

Gator Financial Partners, LLC reports beneficial ownership of 916,799 Class A shares, equal to 8.74% of the Class A shares, as stated in the Schedule 13G/A covering CUSIP 902952100 and signed on 03/31/2026.

What voting and dispositive power is reported by the filers in this 13G/A?

The filers disclose shared voting power and shared dispositive power for their reported shares. For example, Gator Capital Management and Derek Pilecki each report 1,041,374 shared voting and 1,041,374 shared dispositive shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

U.S. GLOBAL INVESTORS, INC.

(Name of Issuer)

CLASS A

(Title of Class of Securities)

902952100

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 902952100

1

Names of Reporting Persons

Gator Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,041,374.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,041,374.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,041,374.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.93 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP Number(s): 902952100

1

Names of Reporting Persons

Derek Pilecki

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,041,374.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,041,374.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,041,374.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.93 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 902952100

1

Names of Reporting Persons

Gator Financial Partners, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 916,799.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 916,799.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

916,799.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.74 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 902952100

1

Names of Reporting Persons

ECA Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 74,922.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 74,922.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

74,922.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.71 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 902952100

1

Names of Reporting Persons

Gator Qualified Partners, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 43,653.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 43,653.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

43,653.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.42 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: U.S. GLOBAL INVESTORS, INC.
(b)	Address of issuer's principal executive offices: 7900 Callaghan Road, San Antonio, TEXAS 78299
Item 2.
(a)	Name of person filing: Gator Capital Management, LLC Derek Pilecki Gator Financial Partners, LLC ECA Fund, LP Gator Qualified Partners, LLC
(b)	Address or principal business office or, if none, residence: 2502 N. Rocky Point Dr. Ste 665 Tampa, FL 33607
(c)	Citizenship: Gator Capital Management, LLC is a Delaware limited liability company Derek Pilecki is a United States citizen Gator Financial Partners, LLC is a Delaware limited liability company ECA Fund, LP a Texas Limited Partnership Gator Qualified Partners, LLC is a Delaware limited liability company
(d)	Title of class of securities: CLASS A
(e)	CUSIP No.: 902952100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Gator Capital Management, LLC 1,041,374 Derek Pilecki 1,041,374 Gator Financial Partners, LLC 916,799 ECA Fund, LP 74,922 Gator Qualified Partners, LLC 43,653
(b)	Percent of class: Gator Capital Management, LLC 9.93% Derek Pileck 9.93% Gator Financial Partners, LLC 8.74% ECA Fund, LP 0.71% Gator Qualified Partners, LLC 0.42%.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: N/A N/A N/A
	(ii) Shared power to vote or to direct the vote: Gator Capital Management, LLC 1,041,374 Derek Pilecki 1,041,374 Gator Financial Partners, LLC 916,799 ECA Fund, LP 74,922 Gator Qualified Partners, LLC 43,653
	(iii) Sole power to dispose or to direct the disposition of: N/A N/A N/A
	(iv) Shared power to dispose or to direct the disposition of: Gator Capital Management, LLC 1,041,374 Derek Pilecki 1,041,374 Gator Financial Partners, LLC 916,799 ECA Fund, LP 74,922 Gator Qualified Partners, LLC 43,653
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Gator Capital Management, LLC

Signature:	Derek Pilecki
Name/Title:	Managing Member
Date:	03/31/2026

Derek Pilecki

Signature:	Derek Pilecki
Name/Title:	Individual
Date:	03/31/2026

Gator Financial Partners, LLC

Signature:	Derek Pilecki
Name/Title:	Managing Member
Date:	03/31/2026

ECA Fund, LP

Signature:	Derek Pilecki
Name/Title:	Derek Pilecki
Date:	03/31/2026

Gator Qualified Partners, LLC

Signature:	Derek Pilecki
Name/Title:	Managing Member
Date:	03/31/2026

Comments accompanying signature: After reasonable inquiry and to the best of each of the undersigned's knowledge and belief, each of the undersigned certifies that the information set forth in this Statement is true, complete and correct.

Exhibit Information

Joint Filing Agreement dated July 1, 2025, among Gator Financial Partners, LLC, Gator Qualified Partners, LLC, Gator Capital Management, LLC, and Derek Pilecki.