Sec Form 3 Filing - Gator Capital Management, LLC @ U S GLOBAL INVESTORS INC - 2026-04-01

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Gator Capital Management, LLC 2. Issuer Name and Ticker or Trading Symbol U S GLOBAL INVESTORS INC [ GROW] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 2502 N. ROCKY POINT DR. SUITE 665 3. Date of Earliest Transaction (MM/DD/YY) 04/01/2026 (Street) TAMPA, FL33607 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock (Non-Voting) 1,062,474 I Investment adviser with discretion over multiple client accounts (See Footnotes) ( 1 ) ( 2 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Gator Capital Management, LLC 2502 N. ROCKY POINT DR. SUITE 665 TAMPA, FL33607 X Signatures /s/ Derek Pilecki 06/02/2026 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This Form 3 is being filed jointly by Gator Capital Management, LLC and Derek Pilecki. Gator Capital Management, LLC is an investment adviser that exercises investment discretion over multiple client accounts holding shares of the Issuer. Derek Pilecki is the Managing Member and 100% owner of Gator Capital Management, LLC and may be deemed to indirectly beneficially own the shares held by the accounts managed by Gator Capital Management, LLC. Shares are held across the following accounts over which Gator Capital Management, LLC exercises investment discretion: Gator Financial Partners, LLC (916,799 shares); Gator Qualified Partners, LLC (64,753 shares); ECA Fund, LP (74,922 shares); Individual Managed Account (6,000 shares). Gator Capital Management, LLC and Derek Pilecki disclaims beneficial ownership of these securities except to the extent of its pecuniary interest therein ( 2 )This Form 3 is being filed late. The Reporting Person became subject to the reporting obligations under Section 16(a) of the Securities Exchange Act of 1934 on April 1, 2026, the date on which the Reporting Person's beneficial ownership of the Issuer's Class A Common Stock exceeded 10% of the shares outstanding. The Reporting Person had been monitoring its ownership percentage using the share count reported in the Issuer's quarterly Form 10-Q for the period ended September 30, 2025, filed with the Commission on November 12, 2025. The Reporting Person subsequently determined that the Issuer's quarterly Form 10-Q for the period ended December 31, 2025, filed with the Commission on February 20, 2026, reflected a reduction in shares outstanding resulting from the Issuer's share repurchase program, which caused the Reporting Person's beneficial ownership percentage to exceed 10% as of April 1, 2026. Upon making this determination, the Reporting Person promptly filed this Form 3.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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