U.S. Global Investors (GROW) 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AT&T INC	COM	00206R102	338	8,970	SH		SOLE		0	8,970	0
AMERICAN INTL GROUP INC	COM NEW	026874784	454	7,265	SH		SOLE		0	7,265	0
AMERIPRISE FINL INC	COM	03076C106	438	3,438	SH		SOLE		0	3,438	0
APPLE INC	COM	037833100	457	3,174	SH		SOLE		0	3,174	0
BED BATH & BEYOND INC	COM	075896100	409	13,467	SH		SOLE		0	13,467	0
BROWN FORMAN CORP	CL B	115637209	498	10,249	SH		SOLE		0	10,249	0
CARDINAL HEALTH INC	COM	14149Y108	515	6,611	SH		SOLE		0	6,611	0
CARNIVAL CORP	UNIT 99/99/9999	143658300	530	8,090	SH		SOLE		0	8,090	0
CORNING INC	COM	219350105	555	18,468	SH		SOLE		0	18,468	0
DIREXION SHS ETF TR	DLY TECH BULL 3X	25459W102	165	2,300	SH		SOLE		0	2,300	0
ENTERGY CORP NEW	COM	29364G103	430	5,605	SH		SOLE		0	5,605	0
EXXON MOBIL CORP	COM	30231G102	450	5,572	SH		SOLE		0	5,572	0
GRAINGER W W INC	COM	384802104	262	1,451	SH		SOLE		0	1,451	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	488	9,283	SH		SOLE		0	9,283	0
KOHLS CORP	COM	500255104	528	13,645	SH		SOLE		0	13,645	0
KRAFT HEINZ CO	COM	500754106	388	4,526	SH		SOLE		0	4,526	0
MACERICH CO	COM	554382101	406	6,997	SH		SOLE		0	6,997	0
NETAPP INC	COM	64110D104	316	7,897	SH		SOLE		0	7,897	0
OCCIDENTAL PETE CORP DEL	COM	674599105	553	9,236	SH		SOLE		0	9,236	0
PFIZER INC	COM	717081103	336	10,000	SH		SOLE		0	10,000	0
PROSHARES TR	ULT R/EST NEW	74347X625	88	700	SH		SOLE		0	700	0
PROSHARES TR	ULTRA FNCLS NEW	74347X633	83	800	SH		SOLE		0	800	0
QUALCOMM INC	COM	747525103	350	6,343	SH		SOLE		0	6,343	0
QUEST DIAGNOSTICS INC	COM	74834L100	564	5,074	SH		SOLE		0	5,074	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	174	2,200	SH		SOLE		0	2,200	0
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	81	3,300	SH		SOLE		0	3,300	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	48	700	SH		SOLE		0	700	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	78	1,500	SH		SOLE		0	1,500	0
SOUTHWEST AIRLS CO	COM	844741108	732	11,779	SH		SOLE		0	11,779	0
TARGET CORP	COM	87612E106	639	12,215	SH		SOLE		0	12,215	0
TRAVELERS COMPANIES INC	COM	89417E109	524	4,140	SH		SOLE		0	4,140	0
TYSON FOODS INC	CL A	902494103	562	8,967	SH		SOLE		0	8,967	0
UNION PAC CORP	COM	907818108	682	6,266	SH		SOLE		0	6,266	0
VALERO ENERGY CORP NEW	COM	91913Y100	496	7,355	SH		SOLE		0	7,355	0
XILINX INC	COM	983919101	544	8,452	SH		SOLE		0	8,452	0
ALLERGAN PLC	SHS	G0177J108	484	1,990	SH		SOLE		0	1,990	0
TE CONNECTIVITY LTD	REG SHS	H84989104	515	6,540	SH		SOLE		0	6,540	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	414	4,900	SH		SOLE		0	4,900	0
CHINA PETE & CHEM CORP	SPON ADR H SHS	16941R108	350	4,456	SH		SOLE		0	4,456	0
NETEASE INC	SPONSORED ADR	64110W102	150	500	SH		SOLE		0	500	0
SILICON MOTION TECHNOLOGY CO	SPONSORED ADR	82706C108	43	900	SH		SOLE		0	900	0
SINOPEC SHANGHAI PETROCHEMIC	SPON ADR H	82935M109	225	4,200	SH		SOLE		0	4,200	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADR	874039100	199	5,700	SH		SOLE		0	5,700	0
DIREXION SHS ETF TR	DLY RUSSIA BL 3X	25490K273	1,114	32,500	SH		SOLE		0	32,500	0
ELDORADO GOLD CORP NEW	COM	284902103	172	65,000	SH		SOLE		0	65,000	0
ISHARES TR	MSCI POL CAP ETF	46429B606	431	17,750	SH		SOLE		0	17,750	0
MOBILE TELESYSTEMS PJSC	SPONSORED ADR	607409109	358	42,700	SH		SOLE		0	42,700	0
RYANAIR HLDGS PLC	SPONSORED ADR NE	783513203	172	1,600	SH		SOLE		0	1,600	0
LUXOFT HLDG INC	ORD SHS CL A	G57279104	274	4,500	SH		SOLE		0	4,500	0
YANDEX N V	SHS CLASS A	N97284108	248	9,450	SH		SOLE		0	9,450	0
ALLIANCE HOLDINGS GP LP	COM UNITS LP	01861G100	967	40,800	SH		SOLE		0	40,800	0
BRASKEM S A	SP ADR PFD A	105532105	1,034	49,900	SH		SOLE		0	49,900	0
CVR REFNG LP	COMUNIT REP LT	12663P107	1,034	108,800	SH		SOLE		0	108,800	0
CHEVRON CORP NEW	COM	166764100	136	1,300	SH		SOLE		0	1,300	0
CHINA PETE & CHEM CORP	SPON ADR H SHS	16941R108	1,038	13,200	SH		SOLE		0	13,200	0
CINER RES LP	COM UNIT LTD	172464109	646	23,592	SH		SOLE		0	23,592	0
FREEPORT-MCMORAN INC	CL B	35671D857	841	700	SH	Call	SOLE		0	700	0
BHP BILLITON LTD	SPONSORED ADR	088606108	1,780	500	SH	Call	SOLE		0	500	0
BHP BILLITON LTD	SPONSORED ADR	088606108	7,759	2,180	SH	Call	SOLE		0	2,180	0
BHP BILLITON LTD	SPONSORED ADR	088606108	854	240	SH	Call	SOLE		0	240	0
BHP BILLITON LTD	SPONSORED ADR	088606108	1,459	410	SH	Call	SOLE		0	410	0
GOODYEAR TIRE & RUBR CO	COM	382550101	1,182	33,800	SH		SOLE		0	33,800	0
TOTAL S A	SPONSORED ADR	89151E109	3,273	660	SH	Call	SOLE		0	660	0
FRANCO NEVADA CORP	COM	351858105	1,010	140	SH	Call	SOLE		0	140	0
BP PLC	SPONSORED ADR	055622104	2,529	730	SH	Call	SOLE		0	730	0
LEAR CORP	COM NEW	521865204	1,122	7,900	SH		SOLE		0	7,900	0
MAGNA INTL INC	COM	559222401	1,056	22,800	SH		SOLE		0	22,800	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	2,128	400	SH	Call	SOLE		0	400	0
EXXON MOBIL CORP	COM	30231G102	16,227	2,010	SH	Call	SOLE		0	2,010	0
SPDR SERIES TRUST	S&P OILGAS EXP	78464A730	6,033	1,890	SH	Call	SOLE		0	1,890	0
TURQUOISE HILL RES LTD	COM	900435108	371	1,400	SH	Call	SOLE		0	1,400	0
RAYONIER ADVANCED MATLS INC	COM	75508B104	1,009	64,200	SH		SOLE		0	64,200	0
SPDR GOLD TRUST	GOLD SHS	78463V107	14,162	1,200	SH	Put	SOLE		0	1,200	0
SILVER STD RES INC	COM	82823L106	1,201	123,700	SH		SOLE		0	123,700	0
SOLAREDGE TECHNOLOGIES INC	COM	83417M104	914	45,700	SH		SOLE		0	45,700	0
TERNIUM SA	SPON ADR	880890108	1,374	48,900	SH		SOLE		0	48,900	0
TERRA NITROGEN CO L P	COM UNIT	881005201	1,142	13,300	SH		SOLE		0	13,300	0
ULTRA PETROLEUM CORP	COM NEW	903914208	1,081	99,600	SH		SOLE		0	99,600	0
SANDSTORM GOLD LTD	COM NEW	80013R206	2,361	6,100	SH	Call	SOLE		0	6,100	0
VANECK VECTORS ETF TR	JR GOLD MINERS E	92189F791	1,836	550	SH	Call	SOLE		0	550	0
FREEPORT-MCMORAN INC	CL B	35671D857	1,609	1,340	SH	Call	SOLE		0	1,340	0
AGNICO EAGLE MINES LTD	COM	008474108	2,256	50,000	SH		SOLE		0	50,000	0
BARRICK GOLD CORP	COM	067901108	796	50,000	SH		SOLE		0	50,000	0
COEUR MNG INC	COM NEW	192108504	858	100,000	SH		SOLE		0	100,000	0
COMSTOCK MNG INC	COM	205750102	845	4,621,648	SH		SOLE		0	4,621,648	0
ELDORADO GOLD CORP NEW	COM	284902103	792	300,000	SH		SOLE		0	300,000	0
GOLDEN STAR RES LTD CDA	COM	38119T104	1,625	2,500,000	SH		SOLE		0	2,500,000	0
HARMONY GOLD MNG LTD	SPONSORED ADR	413216300	619	375,000	SH		SOLE		0	375,000	0
NEWMONT MINING CORP	COM	651639106	2,429	75,000	SH		SOLE		0	75,000	0
PAN AMERICAN SILVER CORP	COM	697900108	2,103	125,000	SH		SOLE		0	125,000	0
RICHMONT MINES INC	COM	76547T106	4,680	600,000	SH		SOLE		0	600,000	0
SANDSTORM GOLD LTD	COM NEW	80013R206	2,322	600,000	SH		SOLE		0	600,000	0
SIBANYE GOLD LTD	SPONSORED ADR	825724206	529	114,285	SH		SOLE		0	114,285	0
WHEATON PRECIOUS METALS CORP	COM	962879102	1,989	100,000	SH		SOLE		0	100,000	0
ABBVIE INC	COM	00287Y109	2,006	27,663	SH		SOLE		0	27,663	0
ALLEGIANT TRAVEL CO	COM	01748X102	984	7,255	SH		SOLE		0	7,255	0
CBOE HLDGS INC	COM	12503M108	2,033	22,239	SH		SOLE		0	22,239	0
CSG SYS INTL INC	COM	126349109	1,308	32,231	SH		SOLE		0	32,231	0
DIREXION SHS ETF TR	DLY TECH BULL 3X	25459W102	575	8,000	SH		SOLE		0	8,000	0
EAGLE PHARMACEUTICALS INC	COM	269796108	1,097	13,900	SH		SOLE		0	13,900	0
EBAY INC	COM	278642103	2,127	60,907	SH		SOLE		0	60,907	0
FOX FACTORY HLDG CORP	COM	35138V102	795	22,333	SH		SOLE		0	22,333	0
GREENHILL & CO INC	COM	395259104	386	19,224	SH		SOLE		0	19,224	0
HSN INC	COM	404303109	830	26,030	SH		SOLE		0	26,030	0
INTERDIGITAL INC	COM	45867G101	1,161	15,020	SH		SOLE		0	15,020	0
KLA-TENCOR CORP	COM	482480100	1,633	17,846	SH		SOLE		0	17,846	0
KRATON CORPORATION	COM	50077C106	1,135	32,969	SH		SOLE		0	32,969	0
LGI HOMES INC	COM	50187T106	1,164	28,959	SH		SOLE		0	28,959	0
LANDAUER INC	COM	51476K103	1,190	22,746	SH		SOLE		0	22,746	0
LENNOX INTL INC	COM	526107107	1,546	8,421	SH		SOLE		0	8,421	0
NIC INC	COM	62914B100	472	24,911	SH		SOLE		0	24,911	0
NAUTILUS INC	COM	63910B102	1,316	68,741	SH		SOLE		0	68,741	0
PROSHARES TR	ULT R/EST NEW	74347X625	188	1,500	SH		SOLE		0	1,500	0
PROSHARES TR	ULTRA FNCLS NEW	74347X633	208	2,000	SH		SOLE		0	2,000	0
RAYONIER ADVANCED MATLS INC	COM	75508B104	1,546	98,315	SH		SOLE		0	98,315	0
ROCKWELL COLLINS INC	COM	774341101	665	6,332	SH		SOLE		0	6,332	0
S&P GLOBAL INC	COM	78409V104	2,709	18,558	SH		SOLE		0	18,558	0
SEALED AIR CORP NEW	COM	81211K100	1,331	29,726	SH		SOLE		0	29,726	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	412	5,200	SH		SOLE		0	5,200	0
SELECT SECTOR SPDR TR	SBI CONS STPLS	81369Y308	192	3,500	SH		SOLE		0	3,500	0
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	195	7,900	SH		SOLE		0	7,900	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	109	1,600	SH		SOLE		0	1,600	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	197	3,800	SH		SOLE		0	3,800	0
SELECT COMFORT CORP	COM	81616X103	1,726	48,633	SH		SOLE		0	48,633	0
SUPERNUS PHARMACEUTICALS INC	COM	868459108	1,914	44,409	SH		SOLE		0	44,409	0
TAUBMAN CTRS INC	COM	876664103	1,146	19,240	SH		SOLE		0	19,240	0
USCF ETF TR	RESTAURNT LDRS	90290T205	43	2,400	SH		SOLE		0	2,400	0
ALLEGION PUB LTD CO	ORD SHS	G0176J109	1,278	15,752	SH		SOLE		0	15,752	0
COMSTOCK MNG INC	COM	205750102	487	2,665,000	SH		SOLE		0	2,665,000	0
GOLD STD VENTURES CORP	COM	380738104	2,052	1,200,000	SH		SOLE		0	1,200,000	0
MAG SILVER CORP	COM	55903Q104	652	50,000	SH		SOLE		0	50,000	0
PRETIUM RES INC	COM	74139C102	961	100,000	SH		SOLE		0	100,000	0
KINROSS GOLD CORP	COM NO PAR	496902404	0	1	SH		SOLE		0	0	0
KLONDEX MNS LTD	COM	498696103	15,837	5,000,000	SH		SOLE		0	0	0
KLONDEX MNS LTD	COM	498696103	19,322	6,100,000	SH		SOLE		0	0	0
SEABRIDGE GOLD INC	COM	811916105	519	45,000	SH		SOLE		0	0	0
ALIO GOLD INC	COM	01627X108	832	200,000	SH		SOLE		0	0	0
ALASKA AIR GROUP INC	COM	011659109	4,612	54,112	SH		SOLE		0	54,112	0
ALLEGIANT TRAVEL CO	COM	01748X102	4,500	34,840	SH		SOLE		0	34,840	0
AMERICAN AIRLS GROUP INC	COM	02376R102	14,992	297,231	SH		SOLE		0	297,231	0
AT&T INC	COM	00206R102	117	3,000	SH		SOLE		0	3,000	0
BOEING CO	COM	097023105	4,402	18,154	SH		SOLE		0	18,154	0
CHINA EASTN AIRLS LTD	SPON ADR CL H	16937R104	1,116	40,353	SH		SOLE		0	40,353	0
DELTA AIR LIINES INC DEL	COM NEW	247361702	13,459	272,673	SH		SOLE		0	272,673	0
GENERAL DYNAMICS CORP	COM	369550108	3,542	18,040	SH		SOLE		0	18,040	0
GOLD FIELDS LTD NEW	SPONSORED ADR	38059T106	104	26,148	SH		SOLE		0	26,148	0
HAWAIIAN HOLDINGS INC	COM	419879101	4,250	102,789	SH		SOLE		0	102,789	0
JETBLUE AIRWAYS CORP	COM	477143101	4,613	210,456	SH		SOLE		0	210,456	0
KINROSS GOLD COER	COM NO PAR	496902404	69	16,700	SH		SOLE		0	16,700	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	48	5,500	SH		SOLE		0	5,500	0
NUVEEN PFD INCOME OPPRTNY FD	COM	67073B106	57	5,375	SH		SOLE		0	5,375	0
PIONEER FLOATING RATE TR	COM	72369J102	97	8,083	SH		SOLE		0	8,083	0
ROYAL GOLD INC	COM	780287108	263	3,032	SH		SOLE		0	3,032	0
RYANAIR HLDGS PLC	SPONSORED ADR NE	783513203	1,274	11,248	SH		SOLE		0	11,248	0
SKYWEST INC	COM	830879102	3,712	101,691	SH		SOLE		0	101,691	0
SOUTHWEST AIRLS CO	COM	844741108	12,971	233,664	SH		SOLE		0	233,664	0
SPIRIT AIRLS INC	COM	848577102	3,574	92,046	SH		SOLE		0	92,046	0
TAHOE RES INC	COM	873868103	44	8,100	SH		SOLE		0	8,100	0
UNITED CONTL HLDGS INC	COM	910047109	12,835	189,637	SH		SOLE		0	189,637	0
FRANCO NEVADA CORP	COM	351858105	232	3,208	SH		SOLE		0	3,208	0
SIBANYE GOLD LTD	SPONSORED ADR	825724206	96	18,620	SH		SOLE		0	18,620	0
ANGLOGOLD ASHANTI LTD	SPONSORED ADR	035128206	90	9,000	SH		SOLE		0	9,000	0
HARMONY GOLD MNG LTD	SPONSORED ADR	413216300	75	41,892	SH		SOLE		0	41,892	0
COEUR MNG INC	COM NEW	192108504	68	8,224	SH		SOLE		0	8,224	0
IAMGOLD CORP	COM	450913108	73	13,536	SH		SOLE		0	13,536	0
TEXTRON INC	COM	883203101	3,790	77,138	SH		SOLE		0	77,138	0
ENDEAVOUR SILVER CORP	COM	29258Y103	68	22,476	SH		SOLE		0	22,476	0
NEW GOLD INC CDA	COM	644535106	79	23,520	SH		SOLE		0	23,520	0
SILVER STD RES INC	COM	784730103	69	7,128	SH		SOLE		0	7,128	0
WHEATON PRECIOUS METALS CORP	COM	962879102	238	11,716	SH		SOLE		0	11,716	0