Our Team

Our Leadership Team

Frank HolmesFrank E. Holmes

CEO and Chief Investment Officer

Frank Holmes is the CEO and chief investment officer of U.S. Global Investors (NASDAQ: GROW). Mr. Holmes purchased a controlling interest in U.S. Global Investors in 1989 and became the firm’s chief investment officer in 1999.

He is the co-author of The Goldwatcher: Demystifying Gold Investing. More than 100,000 subscribers follow his weekly commentary in the award-winning Investor Alert newsletter, across social channels and in his Frank Talk blog, which is read in over 180 countries. These publications are free to curious investors and can be found on www.usfunds.com.

Under his guidance, the company’s mutual funds have received recognition from Lipper and Morningstar throughout the years, two trusted independent financial authorities. In 2015, Mr. Holmes led the company into the exchange-traded fund (ETF) business with the launch of the U.S. Global Jets ETF (NYSE: JETS), which invests in the global airline sector. As of 2015, JETS is, and remains, the only airline-related ETF available to investors. In 2017, the firm launched its second ETF, the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU), focusing on gold royalty companies.

In 2017, U.S. Global Investors made a strategic investment in HIVE Blockchain Technologies, listed in Toronto, and Mr. Holmes was appointed non-executive Chairman of the Board. In 2021 he now serves as Interim CEO and Executive Chairman of HIVE (TSX.V: HIVE) – the first and only publicly-traded company that mines both Bitcoin and Ethereum on an industrial scale.

Mr. Holmes is a much-sought-after keynote speaker at national and international investment conferences. He is a regular commentator on the financial networks CNBC Asia, Bloomberg Radio, Fox Business, Kitco News and more, and has been profiled by Fortune as well as The Financial Times. 


Lisa CallicotteLisa Callicotte

Chief Financial Officer

Lisa Callicotte joined U.S. Global Investors in 2009 as controller and was promoted to chief financial officer in July 2013. Ms. Callicotte is responsible for oversight of all financial statements and related disclosures for internal use and external filings with the appropriate regulatory bodies. In addition, she is responsible for monitoring pertinent GAAP, SEC and FINRA rules for relevant accounting and regulatory matters. Ms. Callicotte previously worked for Ernst & Young LLP for 12 years, leaving as a senior manager. She graduated from Texas A&M University with a Bachelor of Business Administration and a Master of Science in Accounting. She has been a Certified Public Accountant since 1999.

Our Investment Team

Our investment team is led by U.S. Global Investors Chief Investment Officer Frank Holmes. Mr. Holmes leads a unique investment team that brings knowledge and experience in a variety of fields.

Ralph P. Aldis, CFARalph P. Aldis, CFA

Portfolio Manager

Ralph Aldis rejoined U.S. Global Investors as senior mining analyst in November 2001. He is responsible for analyzing gold and precious metals stocks in his role as portfolio manager. In 2011, 2015 and again in 2018, Mr. Aldis was named a U.S. Metals and Mining "TopGun" by Brendan Wood International. In 2016 he and Frank Holmes were named Best Americas Based Fund Manager by the Mining Journal.

Previously, Mr. Aldis worked for Eisner Securities, where he was an investment analyst for its high net worth group and oversaw its mutual fund operations. Before joining Eisner Securities, Mr. Aldis worked for 10 years as director of research for U.S. Global Investors, where he applied quantitative skills towards stocks, portfolio tilting, cash optimization and performance attribution analysis.

Mr. Aldis received a master’s degree in energy and mineral resources from the University of Texas at Austin in 1988 and a Bachelor of Science in geology, from Stephen F. Austin University in 1981, graduating cum laude. Mr. Aldis is a member of the CFA Society of San Antonio.


Joanna SawickaJoanna Sawicka

Portfolio Manager

Joanna Sawicka joined U.S. Global Investors in 2007 as an investment reporting administrator and in 2015 was promoted to research analyst. In 2020 she was promoted to portfolio manager. Ms. Sawicka is primarily responsible for analyzing companies located in emerging European countries.

Prior to joining U.S. Global Investors, she worked for Soros Fund Management in New York and JP Morgan in San Antonio. Ms. Sawicka holds a bachelor’s degree in finance with a specialization in investments from Baruch College, City University of New York.


Juan F LeonJuan F. León, CFA

Portfolio Manager

Juan F. León joined U.S. Global Investors as a junior analyst in October 2014. He is responsible for researching companies, sectors and industries, in addition to constructing investment strategies for several of the firm’s mutual funds and ETFs. in 2020 he was promoted to portfolio manager.

Mr. León was born in Bogotá, Colombia, and grew up in Quito, Ecuador. He attended Trinity University in San Antonio, Texas, where he completed a double major in political science and economics. While at Trinity, he participated in the university’s Student Managed Fund, a year-long investment program that allows students to actively manage the fund’s capital. He also studied for a semester at the Institute of Economic and Political Studies in London.

Before joining USGI, Mr. León spent two and a half years as a financial analyst at the cloud computing and web hosting company Rackspace. Mr. León is a CFA charterholder.


Michael MatousekMichael Matousek

Head Trader

Michael Matousek joined U.S. Global Investors in January 2008 and was soon promoted to head trader. With close to 20 years’ worth of industry experience, Mr. Matousek is responsible for evaluating and executing trading strategies in U.S. Global Investors’ mutual funds and internal proprietary accounts.

Before joining U.S. Global Investors, Mr. Matousek functioned as director of institutional sales and trading for a broker-dealer, advising the firm’s hedge fund clients on trading strategy and implementation.

Mr. Matousek has been a Chartered Market Technician (CMT) for over 10 years and holds the Series 7, 24, 52 and 55 licenses. He received his Bachelor of Science degree in law enforcement and a minor in accounting.

For more information on Mr. Matousek's broker registration profile, click here.

Net Asset Value
as of 03/05/2021

Global Resources Fund PSPFX $6.17 0.06 Gold and Precious Metals Fund USERX $11.54 0.11 World Precious Minerals Fund UNWPX $4.70 No Change China Region Fund USCOX $10.05 0.12 Emerging Europe Fund EUROX $6.27 0.08 All American Equity Fund GBTFX $24.65 No Change Global Luxury Goods Fund USLUX $20.19 0.05 Near-Term Tax Free Fund NEARX $2.24 No Change U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 No Change