US GLB GLD & METAL MNRS ETF

GOAU
NYSE Arca ETF ETF Series Solutions Commodities
CUSIP: 26922A719

Investment objective: The U.S. Global GO GOLD and Precious Metal Miners ETF (the Fund) seeks total return.

Principal investment strategies: The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in exchange-listed common stock (or American Depositary Receipts (ADRs)) of U.S. and international (including emerging markets) companies that earn at least 50 percent of their aggregate revenue from precious metals (Precious Metal Companies). Precious metals consist of gold, silver, platinum, and palladium. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in Precious Metals Companies and at least 20% of its net assets (plus borrowings for investment purposes) in Precious Metals Companies that primarily derive their revenue from gold (Gold Companies). For purposes of the Funds 80% policy, the specific precious metals from which Precious Metals Companies derive their revenue may change over time. U.S. Global Investors, Inc., the Funds investment adviser (the Adviser), generally expects the Fund to be predominantly invested in Gold Companies. The Adviser selects the Funds holdings from an initial universe of investments that consists of common stocks or ADRs of Precious Metals Companies across the globe that earn at least 50 percent of their aggregate revenue from precious metals through active ( i.e. , mining or production) or passive ( i.e. , owning royalties or production streams) means. The universe of Precious Metals Companies is screened by the Adviser for investibility ( i.e. , must be listed on a securities exchange) and liquidity ( i.e ., minimum average daily value traded). Precious Metals Companies that rely primarily on debt to finance their business are not included in the Fund by the Adviser. To qualify for inclusion in the Funds portfolio, Precious Metals Companies must have their common stock or a sponsored ADR listed on one of the following exchanges: Toronto Stock Exchange, TSX Venture, New York Stock Exchange (main market only), Nasdaq, London Stock Exchange (main market only), Hong Kong Stock Exchange, Johannesburg Stock Exchange, or Australian Securities Exchange. At the time of each portfolio rebalance conducted by the Adviser, the Fund invests at least 30% of its assets in Precious Metals Companies whose stock is listed on an exchange in the United States or Canada and that earn a majority of their revenue from gold and silver, and the top three such companies will each receive a 10% holdings allocation. In selecting Precious Metal Companies for inclusion in the Funds portfolio and in allocating Fund assets among such Precious Metal Companies, the Adviser considers, on at least a quarterly basis, fundamental factors such as free cash flow and momentum. The Adviser may re-allocate (buy or sell) Fund investments on a more frequent basis in response to market shifts and/or to adapt to changes in revenue momentum, relative value, macroeconomic sensitivity, and global trade policy. The Adviser intends to rebalance the Fund's portfolio on at least a quarterly basis, however, may do so more frequently in the Advisers discretion. As of March 31, 2026, the Fund has significant exposure to investments in Canada and the United States. In addition, the Fund expects to have significant investment exposure ( i.e. , more than 25% of the Funds total assets) to securities issued by companies in the metals and mining industry. The extent of the Funds exposure to the metals and mining industry may vary over time. The Fund may include small-, mid-, and large-capitalization companies.

Source: Fund prospectus, 485BPOS, filed 2026-04-24

Top 25 holdings · as of Mar 31, 2022

29 positions reported · net assets $111.1M · filed May 31, 2022

Largest positions of GOAU by reported value, Form N-PORT as of Mar 31, 2022
# Holding Shares / principal Value % of net assets
1 Mount Vernon Liquid Assets Portfolio, LLC 17.8M sh $17.8M 16.03%
2 Royal Gold Inc CUSIP 780287108 87.8K sh $12.4M 11.17%
3 Franco-Nevada Corp CUSIP 351858105 70.9K sh $11.3M 10.18%
4 Wheaton Precious Metals Corp CUSIP 962879102 237.2K sh $11.3M 10.16%
5 B2Gold Corp CUSIP 11777Q209 1.0M sh $4.7M 4.21%
6 Sandstorm Gold Ltd CUSIP 80013R206 568.6K sh $4.6M 4.14%
7 Torex Gold Resources Inc CUSIP 891054603 351.4K sh $4.4M 3.97%
8 Osisko Gold Royalties Ltd CUSIP 68827L101 331.0K sh $4.4M 3.93%
9 Sibanye Stillwater Ltd CUSIP 82575P107 244.8K sh $4.0M 3.58%
10 OceanaGold Corp CUSIP 675222103 1.6M sh $3.6M 3.2%
11 Karora Resources Inc CUSIP 48575L206 695.8K sh $3.5M 3.19%
12 Argonaut Gold Inc CUSIP 04016A101 1.8M sh $3.5M 3.17%
13 IAMGOLD Corp CUSIP 450913108 1.0M sh $3.5M 3.17%
14 SSR Mining Inc CUSIP 784730103 160.8K sh $3.5M 3.15%
15 Centerra Gold Inc CUSIP 152006102 349.0K sh $3.4M 3.09%
16 Eldorado Gold Corp CUSIP 284902509 299.2K sh $3.4M 3.02%
17 Harmony Gold Mining Co Ltd CUSIP 413216300 657.6K sh $3.3M 2.98%
18 Endeavour Mining PLC 130.1K sh $3.2M 2.9%
19 Silvercorp Metals Inc CUSIP 82835P103 852.0K sh $3.1M 2.78%
20 African Rainbow Minerals Ltd CUSIP S01680107 129.9K sh $2.5M 2.29%
21 Aurelia Metals Ltd CUSIP Q0673J106 6.9M sh $2.5M 2.27%
22 Royal Bafokeng Platinum Ltd CUSIP S7097C102 211.7K sh $2.3M 2.11%
23 Ramelius Resources Ltd CUSIP Q7982E108 2.0M sh $2.1M 1.9%
24 Impala Platinum Holdings Ltd CUSIP S37840113 136.0K sh $2.1M 1.89%
25 Anglo American Platinum Ltd CUSIP S9122P108 15.0K sh $2.1M 1.85%

As reported by the fund on Form N-PORT for the period ended Mar 31, 2022. View the filing on SEC.gov

Holdings reports by period

Form N-PORT holdings reports of GOAU by period
As of Positions Net assets
Jun 30, 2026 31 $164.8M
Mar 31, 2026 30 $196.1M
Dec 31, 2025 29 $183.5M
Sep 30, 2025 30 $172.8M
Jun 30, 2025 30 $124.2M
Mar 31, 2025 29 $108.7M
Dec 31, 2024 30 $85.4M
Sep 30, 2024 29 $103.9M
Jun 30, 2024 30 $94.1M
Mar 31, 2024 30 $90.8M
Dec 31, 2023 29 $91.2M
Sep 30, 2023 30 $83.2M
Jun 30, 2023 29 $93.0M
Mar 31, 2023 30 $95.6M
Dec 31, 2022 29 $82.4M
Sep 30, 2022 31 $67.6M
Jun 30, 2022 29 $76.6M
Mar 31, 2022 29 $111.1M
Dec 31, 2021 30 $93.0M
Sep 30, 2021 30 $83.3M

As reported on Form N-PORT. Create a free account to see 6 earlier reports.

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