U.S. Global Investors
U.S. Global Investors (NASDAQ: GROW) is a publicly traded, San Antonio-based boutique investment manager offering six no-load mutual funds and four ETFs across niche global sectors (precious metals, airlines, defense-tech, luxury goods, resources, short-duration bonds) under a proprietary Smart Beta 2.0 quant strategy, distributed directly and via Schwab, Fidelity, TD Ameritrade, and Pershing.
- Company typePublic
- Founded1974
- HeadquartersSan Antonio, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What U.S. Global Investors does
U.S. Global Investors, Inc. (NASDAQ: GROW) is a publicly traded, boutique investment management firm headquartered in San Antonio, Texas, that has operated for over 50 years since its founding as an investment club and the launch of the first U.S. no-load gold mutual fund in 1974. The firm specializes in actively managed equity and bond strategies across niche global sectors, offering six no-load mutual funds (USERX, UNWPX, PSPFX, USLUX, NEARX, UGSDX) covering precious metals, natural resources, luxury goods, and short-duration fixed income, alongside four NYSE-listed ETFs (JETS for airlines, WAR for technology and aerospace/defense, GOAU for gold, SEA for shipping). All products are managed under the firm's proprietary Smart Beta 2.0 quant strategy, which combines the transparency and low cost of passive index tracking with the performance-seeking objectives of active management.\n\nThe firm generates revenue primarily through asset-based investment advisory fees calculated as a percentage of assets under management, with $1.4B in AUM as of Q3 FY2026 and average AUM of $1.6B — the highest since Q2 2024. Distribution is multi-channel: directly to retail investors via the firm's website, mail-in applications, and the ABC Investment Plan ($1,000 initial / $100 monthly minimums), and indirectly through major intermediaries including Schwab, Fidelity, TD Ameritrade, and Pershing. The customer base spans individual retail investors seeking specialized sector exposure and institutional investors seeking thematic alpha, served by a lean team of 11-50 employees.\n\nQ3 FY2026 (quarter ended March 31, 2026) operating revenues reached $2.8M (+31% YoY) with net income of $2.7M. The firm maintains an active capital return program — a monthly dividend of $0.0075 per share (~3.1% annualized yield) and a buyback program that has reduced shares outstanding by approximately 10% over 18 months, producing a reported shareholder yield of 9.89%. Leadership is led by CEO and CIO Frank Holmes, CFO Lisa Callicotte, and Director of Marketing Holly Schoenfeldt, with corporate board director Tom Lydon. Direct product participation is restricted to U.S. investors per fund disclosures.
U.S. Global Investors firmographics
Firmographics- Name
- U.S. Global Investors
- Legal name
- U.S. Global Investors, Inc.
- Website
- https://usfunds.com
- Company type
- Public
- Founded year
- 1974
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- U.S. Global Investors (NASDAQ: GROW) is a publicly traded, San Antonio-based boutique investment manager offering six no-load mutual funds and four ETFs across niche global sectors (precious metals, airlines, defense-tech, luxury goods, resources, short-duration bonds) under a proprietary Smart Beta 2.0 quant strategy, distributed directly and via Schwab, Fidelity, TD Ameritrade, and Pershing.
- Ownership category
- akta.pro rank
U.S. Global Investors industry classification
Industry- Product category
- Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Financial Vehicles (52599)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Broad Market Equity ETFs (FSAAAFAA)
- akta.pro secondary industries
- Global Equity (Active) (FSAAAIAD), Fixed Income Mutual Funds (FSAAAEAB)
Keywords
Where U.S. Global Investors is headquartered
LocationHeadquarters
- HQ city
- San Antonio
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
U.S. Global Investors business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Asset Management Fees: The company generates revenue through investment advisory fees calculated as a percentage of assets under management (AUM). With AUM of $1.4 billion as of Q3 FY2026, the firm earns management fees from its six mutual funds and four ETFs.
- Distribution Services: Revenue generated through fund distribution relationships with intermediaries and the company's own direct distribution channels.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Monthly dividend payment to shareholders |
| Subscription | Annual | Mutual Fund Expense Ratios |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
U.S. Global Investors product offering
Product offeringCore offering
U.S. Global Investors is a boutique investment management firm that offers six no-load mutual funds and four exchange-traded funds (ETFs) focused on niche global sectors including gold and precious metals, natural resources, airlines, aerospace and defense, luxury goods, and short-duration bonds. The firm manages approximately $1.4 billion in assets under management and distributes products both directly to retail investors and through major financial intermediaries.
Product overview
U.S. Global Investors is a boutique investment management firm offering six no-load mutual funds and four exchange-traded funds (ETFs) in niche global industries. The mutual fund lineup includes the Gold and Precious Metals Fund (USERX) - the first no-load gold fund in the U.S., World Precious Minerals Fund (UNWPX), Global Resources Fund (PSPFX), Global Luxury Goods Fund (USLUX), Near-Term Tax Free Fund (NEARX), and U.S. Government Securities Ultra-Short Bond Fund (UGSDX). The ETF offerings include the Jets ETF (JETS) for airline industry exposure, the Technology and Aerospace & Defense ETF (WAR), GOAU for gold exposure, and SEA for shipping. All products employ a proprietary Smart Beta 2.0 quant investment strategy combining passive index tracking with active management goals. The company also offers the ABC Investment Plan, an automatic investment plan service.
Differentiator
Problem solved
Functional benefit
Brands
- U.S. Global Jets ETF (JETS): Provides investors access to the global airline industry, including airline operators, manufacturers and online travel agencies
- U.S. Global Technology and Aerospace & Defense ETF (WAR)
- Gold and Precious Metals Fund (USERX)
- Global Luxury Goods Fund (USLUX)
- World Precious Minerals Fund (UNWPX)
- Global Resources Fund (PSPFX)
- Near-Term Tax Free Fund (NEARX)
- U.S. Government Securities Ultra-Short Bond Fund (UGSDX)
Products and services
- Gold and Precious Metals Fund (USERX) Mutual fund investing in companies involved in mining, fabrication, processing, marketing, or distribution of gold, silver, platinum group, palladium, and diamonds; designed for investors seeking exposure to precious metals and a hedge against inflation and monetary instability.
- World Precious Minerals Fund (UNWPX) Mutual fund complementing the Gold and Precious Metals Fund by providing increased exposure to junior and intermediate mining companies for added growth potential in the precious minerals sector.
- Global Resources Fund (PSPFX) Mutual fund taking a multi-faceted approach to the natural resources sector by investing in energy and basic materials, including companies involved in exploration, production, and processing of petroleum, natural gas, coal, alternative energies, chemicals, mining, iron and steel, and paper and forest products worldwide.
- Global Luxury Goods Fund (USLUX) Mutual fund providing access to global companies involved in the design, manufacture, and sale of luxury products and services including apparel, automotive, home and office products, leisure products, recreation facilities, retail discretionary, and travel.
- Near-Term Tax Free Fund (NEARX) Mutual fund investing in municipal bonds with relatively short maturity, seeking to provide tax-free monthly income by investing in debt securities issued by state and local governments.
- U.S. Government Securities Ultra-Short Bond Fund (UGSDX) Mutual fund designed to take advantage of the security of U.S. Government bonds while pursuing a higher level of current income than money market funds offer.
- U.S. Global Jets ETF (JETS) ETF providing investors access to the global airline industry, including airline operators, manufacturers, and online travel agencies; employs a Smart Beta 2.0 strategy.
- U.S. Global Technology and Aerospace & Defense ETF (WAR) ETF managed by CEO Frank Holmes reflecting the thesis that modern military power depends equally on semiconductors, AI, and data centers as on traditional hardware, with allocations to semiconductors, aerospace/defense, cybersecurity, information technology, and data centers.
- GOAU ETF Gold-focused ETF among the firm's flagship ETFs, designed to provide investors with exposure to the gold mining and precious metals sector.
- SEA ETF Shipping-focused ETF among the firm's flagship ETFs, providing exposure to the global shipping industry.
- ABC Investment Plan Automatic investment plan service using dollar-cost averaging techniques with financial discipline to help investors work toward financial goals, with $1,000 initial and $100 per month investment minimums.
Quantifiable outcome
- Shareholder yield of 9.89% outpacing Treasury yields in Q2 2026
- +4 more outcomes
Companies that use U.S. Global Investors
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles2 records
U.S. Global Investors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
U.S. Global Investors partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Keystone SchoolminorU.S. Global Investors announced a partnership with Keystone School in San Antonio, Texas, to support the school's Model UN program with a $10,000 initial donation and a $50,000 multi-year commitment. The initiative aims to prepare students for global leadership amid concerns about democratic backsliding worldwide.
Scale indicators11 records
Recent moves5 records
Expansion highlights5 records
U.S. Global Investors competitors and assessment
Company assessmentDirect peers
- WisdomTree Investments: WisdomTree operates a comparable mix of ETFs and mutual funds with strong emphasis on commodities, currency-hedged, and thematic strategies, overlapping with USLUX, GOAU, and the global resources franchise.
- Global X ETFs: Global X is a thematic ETF specialist offering niche exposure (commodities, defense, airlines-adjacent themes) that directly competes with JETS, WAR, GOAU, and USLUX for thematic investor dollars on Schwab, Fidelity, and similar platforms.
- Amplify ETFs: Amplify is a boutique thematic ETF issuer whose product strategy (sector-specific, narrative-driven ETFs) closely mirrors U.S. Global's Smart Beta 2.0 thematic franchise, competing for the same intermediary shelf space and retail thematic flows.
- VanEck: VanEck is a closely comparable thematic/commodity ETF and mutual fund sponsor with deep precious-metals and natural-resources product lines (e.g., GDX, GLD), competing head-to-head with USERX, UNWPX, and GOAU in the same distribution channels.
- First Trust: First Trust is a long-standing ETF and mutual fund sponsor with thematic and sector product lines that compete for the same niche-sector retail and advisor allocations as U.S. Global's specialty funds.
Emerging players
- Direxion: Direxion is a niche ETF issuer focused on tactical and thematic strategies with comparable product philosophy (thematic, often high-conviction sector tilts), competing for active-thematic investor mindshare in retail and advisor channels.
- ALPS Advisors: ALPS is a smaller sponsor offering sector and specialty ETFs/mutual funds with comparable boutique scale and thematic orientation, competing for intermediary shelf space and advisor allocations in similar niche categories.
Broad incumbents
- iShares (BlackRock): BlackRock's iShares is the dominant global ETF platform with broad and sector exposures that surround U.S. Global's niche funds, including IAU and other gold/commodity products that pressure fee levels across the boutique's primary categories.
- Invesco: Invesco is a broad incumbent global asset manager with QQQ and a wide thematic/commodity ETF suite that competes with U.S. Global across most retail distribution channels, though at materially greater scale.
- SPDR (State Street): State Street Global Advisors' SPDR franchise includes GLD (gold) and numerous sector/thematic ETFs that compete directly with USERX/GOAU and the broader thematic lineup, while offering a much larger distribution and lower-fee profile.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
U.S. Global Investors social profiles
Digital presenceU.S. Global Investors financial estimates
Financial estimateRevenue estimate
Valuation estimate
U.S. Global Investors leadership team
Management profileNumber of profiles
Profiles4 records
U.S. Global Investors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
U.S. Global Investors M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about U.S. Global Investors
What does U.S. Global Investors do?
U.S. Global Investors is a boutique investment management firm that offers six no-load mutual funds and four exchange-traded funds (ETFs) focused on niche global sectors including gold and precious metals, natural resources, airlines, aerospace and defense, luxury goods, and short-duration bonds. The firm manages approximately $1.4 billion in assets under management and distributes products both directly to retail investors and through major financial intermediaries.
Is U.S. Global Investors a public or private company?
U.S. Global Investors is a public company. It is classified as public and is currently operating.
When was U.S. Global Investors founded?
U.S. Global Investors was founded in 1974. It employs 11 to 50 people.
Where is U.S. Global Investors based?
U.S. Global Investors is headquartered in San Antonio, United States, in the North America region.
How does U.S. Global Investors make money?
Two revenue lines are on record. Asset Management Fees are the primary driver. The others are distribution Services.
Who are U.S. Global Investors's main competitors?
Direct peers on record are WisdomTree Investments, Global X ETFs, Amplify ETFs, VanEck and First Trust. Emerging players are Direxion and ALPS Advisors. Broad incumbents are iShares (BlackRock), Invesco and SPDR (State Street).
Does U.S. Global Investors have an API?
No public API is recorded for U.S. Global Investors.
What industry is U.S. Global Investors in?
U.S. Global Investors's product category is Investment Management. Its primary akta.pro industry code is FSAAAFAA, Broad Market Equity ETFs, with a secondary code of FSAAAIAD, Global Equity (Active). Its NAICS code is 523940 and its SIC code is 6282.