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

OMB APPROVAL

OMB Number:		3235-0006
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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
ABERDEEN STD PLATINUM ETF TR	PHYSCL PLATM SHS	003260106	41	450	SH		SOLE		0	450	0
ABERDEEN STD PLATINUM ETF TR	PHYSCL PLATM SHS	003260106	95	1,050	SH		SOLE		0	1,050	0
ALCOA CORP	COM	013872106	1,224	25,000	SH		SOLE		0	25,000	0
ALEXCO RESOURCE CORP	COM	01535P106	488	325,000	SH		SOLE		0	325,000	0
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	93	630	SH		SOLE		0	630	0
AMAZON COM INC	COM	023135106	2,267	690	SH		SOLE		0	690	0
AMERICAN EXPRESS CO	COM	025816109	2,579	15,394	SH		SOLE		0	15,394	0
ANGLOGOLD ASHANTI LIMITED	SPONSORED ADR	035128206	800	50,000	SH		SOLE		0	50,000	0
APPLE INC	COM	037833100	2,420	17,100	SH		SOLE		0	17,100	0
BARRICK GOLD CORP	COM	067901108	173	9,600	SH		SOLE		0	9,600	0
BHP GROUP LTD	SPONSORED ADS	088606108	268	5,000	SH		SOLE		0	5,000	0
BLACK STONE MINERALS L P	COM UNIT	09225M101	844	70,000	SH		SOLE		0	70,000	0
BLACKSTONE INC	COM	09260D107	1,687	14,500	SH		SOLE		0	14,500	0
BLOOM ENERGY CORP	COM CL A	093712107	562	30,000	SH		SOLE		0	30,000	0
ETF MANAGERS GRP COMMDTY TR	BREAKWAVE DRY	26923H200	36	1,000	SH		SOLE		0	1,000	0
CALEDONIA MNG CORP PLC	SHS NEW	G1757E113	303	25,000	SH		SOLE		0	25,000	0
CANADIAN SOLAR INC	COM	136635109	1,211	35,000	SH		SOLE		0	35,000	0
CARLYLE GROUP INC	COM	14316J108	567	12,000	SH		SOLE		0	12,000	0
CBOE GLOBAL MKTS INC	COM	12503M108	74	600	SH		SOLE		0	600	0
CF INDS HLDGS INC	COM	125269100	558	10,000	SH		SOLE		0	10,000	0
CHENIERE ENERGY INC	COM NEW	16411R208	733	7,500	SH		SOLE		0	7,500	0
CONOCOPHILLIPS	COM	20825C104	678	10,000	SH		SOLE		0	10,000	0
CONSTELLATION BRANDS INC	CL A	21036P108	737	3,500	SH		SOLE		0	3,500	0
COSTCO WHSL CORP NEW	COM	22160K105	2,734	6,084	SH		SOLE		0	6,084	0
DAQO NEW ENERGY CORP	SPNSRD ADS NEW	23703Q203	292	5,125	SH		SOLE		0	5,125	0
DENBURY INC	COM	24790A101	703	10,000	SH		SOLE		0	10,000	0
DIREXION SHS ETF TR	DAILY FTSE CHINA	25460E521	125	6,500	SH		SOLE		0	6,500	0
DIREXION SHS ETF TR	DLY JR GOLD 2X	25460G807	27	1,875	SH		SOLE		0	1,875	0
DIREXION SHS ETF TR	DLY JR GOLD 2X	25460G807	116	8,125	SH		SOLE		0	8,125	0
DIREXION SHS ETF TR	OIL GAS BL 2X SH	25460G500	18	200	SH		SOLE		0	200	0
DRDGOLD LIMITED	SPON ADR REPSTG	26152H301	809	100,000	SH		SOLE		0	100,000	0
ELDORADO GOLD CORP NEW	COM	284902509	966	125,000	SH		SOLE		0	125,000	0
ENERGY FUELS INC	COM NEW	292671708	42	6,012	SH		SOLE		0	6,012	0
EOG RES INC	COM	26875P101	803	10,000	SH		SOLE		0	10,000	0
EQUINOR ASA	SPONSORED ADR	29446M102	1,275	50,000	SH		SOLE		0	50,000	0
LAUDER ESTEE COS INC	CL A	518439104	2,163	7,211	SH		SOLE		0	7,211	0
FERRARI N V	COM	N3167Y103	508	2,429	SH		SOLE		0	2,429	0
FORTUNA SILVER MINES INC	COM	349915108	786	200,000	SH		SOLE		0	200,000	0
FRANCO NEV CORP	COM	351858105	390	3,000	SH		SOLE		0	3,000	0
GLOBAL X FDS	GLOBAL X URANIUM	37954Y871	55	2,300	SH		SOLE		0	2,300	0
GOLD FIELDS LTD	SPONSORED ADR	38059T106	2,030	250,000	SH		SOLE		0	250,000	0
BARRICK GOLD CORP	COM	067901108	187	1,000	SH	Call	SOLE		0	1,000	0
BARRICK GOLD CORP	COM	067901108	280	1,500	SH	Call	SOLE		0	1,500	0
BARRICK GOLD CORP	COM	067901108	550	2,950	SH	Call	SOLE		0	2,950	0
GOLDEN STAR RES LTD CDA	COM	38119T807	476	200,000	SH		SOLE		0	200,000	0
GOLDMAN SACHS GROUP INC	COM	38141G104	2,193	5,800	SH		SOLE		0	5,800	0
HALLIBURTON CO	COM	406216101	432	20,000	SH		SOLE		0	20,000	0
HARMONY GOLD MINING CO LTD	SPONSORED ADR	413216300	1,575	500,000	SH		SOLE		0	500,000	0
HECLA MNG CO	COM	422704106	825	150,000	SH		SOLE		0	150,000	0
HILTON WORLDWIDE HLDGS INC	COM	43300A203	1,189	9,000	SH		SOLE		0	9,000	0
HOME DEPOT INC	COM	437076102	1,435	4,373	SH		SOLE		0	4,373	0
HYCROFT MINING HOLDING CORP	COM CL A	44862P109	18	50,000	SH	Call	SOLE		0	50,000	0
IAMGOLD CORP	COM	450913108	1,130	500,000	SH		SOLE		0	500,000	0
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	145	1,260	SH		SOLE		0	1,260	0
INVESCO QQQ TR	UNIT SER 1	46090E103	36	100	SH		SOLE		0	100	0
IVANHOE CAPITAL ACQUISTIN CO	COM CL A	G4R87P114	198	20,000	SH		SOLE		0	20,000	0
IVANHOE CAPITAL ACQUISTIN CO	COM CL A	G4R87P114	396	40,000	SH		SOLE		0	40,000	0
KIMBELL RTY PARTNERS LP	UNIT	49435R102	777	55,000	SH		SOLE		0	55,000	0
KIRKLAND LAKE GOLD LTD	COM	49741E100	2,080	50,000	SH		SOLE		0	50,000	0
KKR & CO INC	COM	48251W104	1,248	20,500	SH		SOLE		0	20,500	0
LAS VEGAS SANDS CORP	COM	517834107	128	3,500	SH		SOLE		0	3,500	0
LINDE PLC	SHS	G5494J103	587	2,000	SH		SOLE		0	2,000	0
LOUISIANA PAC CORP	COM	546347105	614	10,000	SH		SOLE		0	10,000	0
MARKETAXESS HLDGS INC	COM	57060D108	84	200	SH		SOLE		0	200	0
MARRIOTT INTL INC NEW	CL A	571903202	1,037	7,000	SH		SOLE		0	7,000	0
MAVERIX METALS INC	COM NEW	57776F405	224	50,000	SH		SOLE		0	50,000	0
METALLA RTY & STREAMING LTD	COM NEW	59124U605	340	50,000	SH		SOLE		0	50,000	0
MGM RESORTS INTERNATIONAL	COM	552953101	561	13,000	SH		SOLE		0	13,000	0
MOBILE TELESYSTEMS PJSC	SPONSORED ADR	607409109	402	41,700	SH		SOLE		0	41,700	0
MOODYS CORP	COM	615369105	107	300	SH		SOLE		0	300	0
MOSAIC CO NEW	COM	61945C103	714	20,000	SH		SOLE		0	20,000	0
MSCI INC	COM	55354G100	386	634	SH		SOLE		0	634	0
NEWMONT CORP	COM	651639106	119	180	SH	Call	SOLE		0	180	0
NEWMONT CORP	COM	651639106	182	275	SH	Call	SOLE		0	275	0
NEWMONT CORP	COM	651639106	894	1,350	SH	Call	SOLE		0	1,350	0
NEWMONT CORP	COM	651639106	157	2,900	SH		SOLE		0	2,900	0
NEWMONT CORP	COM	651639106	2,715	50,000	SH		SOLE		0	50,000	0
NIKE INC	CL B	654106103	1,220	8,400	SH		SOLE		0	8,400	0
NIO INC	SPON ADS	62914V106	499	14,000	SH		SOLE		0	14,000	0
NIU TECHNOLOGIES	ADS	65481N100	174	7,500	SH		SOLE		0	7,500	0
OCCIDENTAL PETE CORP	COM	674599105	740	25,000	SH		SOLE		0	25,000	0
PAN AMERN SILVER CORP	COM	697900108	1,164	50,000	SH		SOLE		0	50,000	0
PARAMOUNT GOLD NEV CORP	COM	69924M109	139	170,000	SH		SOLE		0	170,000	0
PHILLIPS 66	COM	718546104	455	6,500	SH		SOLE		0	6,500	0
PIEDMONT LITHIUM INC	COM	72016P105	681	12,500	SH		SOLE		0	12,500	0
POSCO	SPONSORED ADR	693483109	345	5,000	SH		SOLE		0	5,000	0
POTLATCHDELTIC CORPORATION	COM	737630103	516	10,000	SH		SOLE		0	10,000	0
PRETIUM RES INC	COM	74139C102	386	40,000	SH		SOLE		0	40,000	0
PRETIUM RES INC	COM	74139C102	578	60,000	SH		SOLE		0	60,000	0
RANGE RES CORP	COM	75281A109	679	30,000	SH		SOLE		0	30,000	0
RAYONIER INC	COM	754907103	535	15,000	SH		SOLE		0	15,000	0
ROYAL GOLD INC	COM	780287108	315	3,300	SH		SOLE		0	3,300	0
ROYAL GOLD INC	COM	780287108	477	5,000	SH		SOLE		0	5,000	0
VANECK ETF TRUST	VANECK RUSSIA ET	92189F403	259	1,570	SH	Call	SOLE		0	1,570	0
S&P GLOBAL INC	COM	78409V104	420	989	SH		SOLE		0	989	0
SABINE RTY TR	UNIT BEN INT	785688102	857	20,000	SH		SOLE		0	20,000	0
SANDSTORM GOLD LTD	COM NEW	80013R206	288	50,000	SH		SOLE		0	50,000	0
SANDSTORM GOLD LTD	COM NEW	80013R206	3,744	650,000	SH		SOLE		0	650,000	0
SCHLUMBERGER LTD	COM STK	806857108	356	12,000	SH		SOLE		0	12,000	0
SEABRIDGE GOLD INC	COM	811916105	618	40,000	SH		SOLE		0	40,000	0
SEABRIDGE GOLD INC	COM	811916105	834	54,000	SH		SOLE		0	54,000	0
SILVERCORP METALS INC	COM	82835P103	198	52,000	SH		SOLE		0	52,000	0
SILVERCORP METALS INC	COM	82835P103	1,143	300,000	SH		SOLE		0	300,000	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	43	100	SH		SOLE		0	100	0
SSR MNG INC	COM	784730103	3,472	238,610	SH		SOLE		0	238,610	0
STARBUCKS CORP	COM	855244109	1,875	17,000	SH		SOLE		0	17,000	0
TESLA INC	COM	88160R101	3,959	5,105	SH		SOLE		0	5,105	0
TEUCRIUM COMMODITY TR	CORN FD SHS	88166A102	101	5,000	SH		SOLE		0	5,000	0
TOTALENERGIES SE SP	SPONSORED ADS	89151E109	959	20,000	SH		SOLE		0	20,000	0
UNITED STS OIL FD LP	UNITS	91232N207	26	500	SH		SOLE		0	500	0
UNITED STS GASOLINE FD LP	UNITS	91201T102	92	2,400	SH		SOLE		0	2,400	0
UNITED STS NAT GAS FD LP	UNIT PAR	912318300	99	4,900	SH		SOLE		0	4,900	0
VALERO ENERGY CORP	COM	91913Y100	529	7,500	SH		SOLE		0	7,500	0
VANECK ETF TRUST	VANECK SHRT MUNI	92189F528	1,530	85,000	SH		SOLE		0	85,000	0
VANGUARD SCOTTSDALE FDS	SHORT TERM TREAS	92206C102	823	13,400	SH		SOLE		0	13,400	0
VIPER ENERGY PARTNERS LP	COM UNT RP INT	92763M105	437	20,000	SH		SOLE		0	20,000	0
VISA INC	COM CL A	92826C839	346	1,555	SH		SOLE		0	1,555	0
WHEATON PRECIOUS METALS CORP	COM	962879102	338	9,000	SH		SOLE		0	9,000	0
WHEATON PRECIOUS METALS CORP	COM	962879102	4,698	125,000	SH		SOLE		0	125,000	0
ALASKA AIR GROUP INC	COM	011659109	110,413	1,884,186	SH		SOLE		0	1,884,186	0
ALLEGIANT TRAVEL CO	COM	01748X102	108,763	556,391	SH		SOLE		0	556,391	0
AMERICAN AIRLS GROUP INC	COM	02376R102	375,529	18,300,657	SH		SOLE		0	18,300,657	0
AZUL S A	SPONSR ADR PFD	05501U106	17,883	891,500	SH		SOLE		0	891,500	0
BOEING CO	COM	097023105	73,638	334,809	SH		SOLE		0	334,809	0
BOOKING HOLDINGS INC	COM	09857L108	72,985	30,745	SH		SOLE		0	30,745	0
CONTROLADORA VUELA COMP DE A	SPON ADR RP 10	21240E105	19,045	873,207	SH		SOLE		0	873,207	0
COPA HOLDINGS SA	CL A	P31076105	18,831	231,400	SH		SOLE		0	231,400	0
DELTA AIR LINES INC DEL	COM NEW	247361702	376,874	8,844,732	SH		SOLE		0	8,844,732	0
EMBRAER S.A.	SPONSORED ADS	29082A107	18,542	1,090,708	SH		SOLE		0	1,090,708	0
EXPEDIA GROUP INC	COM NEW	30212P303	79,988	488,029	SH		SOLE		0	488,029	0
FRANCO-NEVADA CO	COM	351858105	8,372	64,447	SH		SOLE		0	64,447	0
GENERAL DYNAMICS CORP	COM	369550108	68,885	351,398	SH		SOLE		0	351,398	0
GOL LINHAS AEREAS INTELIGENT	SPON ADR PFD NEW	38045R206	18,052	2,365,933	SH		SOLE		0	2,365,933	0
GOLD FIELDS LTD	SPONSORED ADR	38059T106	2,547	313,695	SH		SOLE		0	313,695	0
HARMONY GOLD MINING CO LTD	SPONSORED ADR	413216300	2,682	851,282	SH		SOLE		0	851,282	0
HAWAIIAN HOLDINGS INC	COM	419879101	115,622	5,338,054	SH		SOLE		0	5,338,054	0
JETBLUE AWYS CORP	COM	477143101	109,509	7,162,115	SH		SOLE		0	7,162,115	0
KINROSS GOLD CORP	COM	496902404	2,505	467,274	SH		SOLE		0	467,274	0
MAKEMYTRIP LIMITED MAURITIUS	SHS	V5633W109	19,154	704,446	SH		SOLE		0	704,446	0
METALLA RTY & STREAMING LTD	COM NEW	59124U605	2,491	366,287	SH		SOLE		0	366,287	0
NEW GOLD INC CDA	COM	644535106	2,404	2,267,697	SH		SOLE		0	2,267,697	0
OSISKO GOLD ROYALTIES LTD	COM	68827L101	3,453	307,449	SH		SOLE		0	307,449	0
ROYAL GOLD INC	COM	780287108	8,074	84,550	SH		SOLE		0	84,550	0
RYANAIR HOLDINGS PLC	SPONSORED ADS	783513203	18,325	166,500	SH		SOLE		0	166,500	0
SABRE CORP	COM	78573M104	76,348	6,448,315	SH		SOLE		0	6,448,315	0
SANDSTORM GOLD LTD	COM NEW	80013R206	3,355	582,413	SH		SOLE		0	582,413	0
SIBANYE STILLWATER LTD	SPONSORED ADR	82575P107	2,289	185,508	SH		SOLE		0	185,508	0
SILVERCORP METALS INC	COM	82835P103	2,448	642,514	SH		SOLE		0	642,514	0
SKYWEST INC	COM	830879102	116,278	2,356,675	SH		SOLE		0	2,356,675	0
SOUTHWEST AIRLS CO	COM	844741108	378,718	7,363,764	SH		SOLE		0	7,363,764	0
SPIRIT AIRLS INC	COM	848577102	111,364	4,293,125	SH		SOLE		0	4,293,125	0
SSR MINING INC	COM	784730103	2,510	172,495	SH		SOLE		0	172,495	0
SUN COUNTRY HOLD	COM	866683105	110,659	3,299,320	SH		SOLE		0	3,299,320	0
TEXTRON INC	COM	883203101	70,085	1,003,939	SH		SOLE		0	1,003,939	0
TRIP COM GROUP LTD	ADS	89677Q107	34,624	1,125,984	SH		SOLE		0	1,125,984	0
TRIPADVISOR INC	COM	896945201	69,764	2,060,962	SH		SOLE		0	2,060,962	0
UNITED AIRLINES	COM	910047109	365,102	7,675,045	SH		SOLE		0	7,675,045	0
WHEATON PRECIOUS METALS CORP	COM	962879102	7,757	206,405	SH		SOLE		0	206,405	0
BURCON NUTRASCIENCE CORP	COM	120831102	1,176	750,000	SH		SOLE		0	750,000	0
CENTERRA GOLD INC	COM	152006102	3,513	515,258	SH		SOLE		0	515,258	0
CORVUS GOLD INC	COM	221013105	92	29,000	SH		SOLE		0	29,000	0
EMX ROYALTY CORP	COM	26873J107	2,585	1,000,000	SH		SOLE		0	1,000,000	0
EQUINOX GOLD CORP	COM	29446Y502	972	147,525	SH		SOLE		0	147,525	0
EXCELLON RES INC	COM	30069C801	129	100,000	SH		SOLE		0	100,000	0
FORTUNA SILVER MINES INC	COM	349915108	3,692	940,628	SH		SOLE		0	940,628	0
INTEGRA RESOURCE CORP	COM NEW	45826T301	320	140,000	SH		SOLE		0	140,000	0
MAVERIX METALS INC	COM NEW	57776F405	3,477	778,000	SH		SOLE		0	778,000	0
METALLA RTY & STREAMING LTD	COM NEW	59124U605	854	125,000	SH		SOLE		0	125,000	0
METALLA RTY & STREAMING LTD	COM NEW	59124U605	2,050	300,000	SH		SOLE		0	300,000	0
METALLA RTY & STREAMING LTD	COM NEW	59124U605	342	50,000	SH		SOLE		0	50,000	0
NOMAD ROYALTY COMPANY LTD	COM NEW	65532M606	602	100,000	SH		SOLE		0	100,000	0
NOMAD ROYALTY COMPANY LTD	COM NEW	65532M606	471	78,300	SH		SOLE		0	78,300	0
NUTRIEN LTD	COM	67077M108	648	10,000	SH		SOLE		0	10,000	0
PLATINUM GROUP METALS LTD	COM	72765Q882	598	300,000	SH		SOLE		0	300,000	0
STANDARD LITHIUM LTD	COM	853606101	814	100,000	SH		SOLE		0	100,000	0
WEST FRASER TIMBER CO LTD	COM	952845105	568	6,750	SH		SOLE		0	6,750	0