GROW US Global Investors Inc

CUSIP NO. 902952100     SCHEDULE 13G    PAGE 2 OF 4

(1)  NAME AND IRS NUMBER OF REPORTING PERSONS

     FINANCIAL & INVESTMENT MANAGEMENT GROUP, LTD.  (#38-2562340)

(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
           A.............{ }
           B.............{ }

(3)  SEC USE ONLY

(4)  CITIZENSHIP OR PLACE OF ORGANIZATION

     MICHIGAN

NUMBER OF SHARES OF:

(5)  SOLE VOTING POWER

     NONE

(6)  SHARED VOTING POWER

     2,553,146

(7)  SOLE DISPOSITIVE POWER

     NONE

(8)  SHARED DISPOSITIVE POWER

     2,553,146

(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED

     2,553,146  *SEE NOTE 1*

(10) CHECK IF AGGREGATE AMOUNT EXCEEDS CERTAIN SHARES

                  { }

(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     19.32%

(12) TYPE OF REPORTING PERSON

            IA

CUSIP  902952100    SCHEDULE 13G        PAGE 3 OF 4

ITEM 1 (A)    NAME OF ISSUER

              U.S. GLOBAL INVESTORS

ITEM 1 (B)    ADDRESS OF ISSUER

              7900 CALLAGHAN RD.
              PO BOX 781234
              SAN ANTONIO, TX  78229


ITEM 2 (A)    NAME OF PERSON FILING

              FINANCIAL & INVESTMENT MANAGEMENT GROUP, LTD

ITEM 2 (B)    ADDRESS OF PERSON FILING

              111 CASS ST.
              TRAVERSE CITY, MI 49684

ITEM 2 (C)    CITIZENSHIP

              MICHIGAN

ITEM 2 (D)    TITLE OF CLASS OF SECURITIES

              CLASS A COMMON STOCK

ITEM 2 (E)    CUSIP NO.

              902952100

ITEM 3        THIS STATEMENT IS BEING FILED BY AN INVESTMENT ADVISOR IN
              ACCORDANCE WITH RULE 13D-1(B)(1)(ii)(E).

CUSIP 902952100     SCHEDULE 13G           PAGE 4 OF 4

OWNERSHIP
ITEM 4 (A)    AMOUNT BENEFICIALLY OWNED

              2,553,146   * SEE NOTE 1 *

ITEM 4 (B)    PERCENT OF CLASS

              19.32%

ITEM 4 (C)    NUMBER OF SHARES:

       (i)    SOLE POWER TO VOTE

              NONE

       (ii)   SHARED POWER TO VOTE

              2,553,146

       (iii)  SOLE POWER TO DISPOSE

              NONE

       (iv)   SHARED POWER TO DISPOSE

              2,553,146

              ** NOTE 1 **
              FINANCIAL & INVESTMENT MANAGEMENT GROUP, LTD IS A
              REGISTERED INVESTMENT ADVISOR, MANAGING INDIVIDUAL
              CLIENT ACCOUNTS.  ALL SHARES REPRESENTED IN THIS
              REPORT ARE HELD IN ACCOUNTS OWNED BY THE CLIENTS
              OF FINANCIAL & INVESTMENT MANAGEMENT GROUP, LTD.
              BECAUSE OF THIS, FINANCIAL & INVESTMENT MANAGEMENT
              GROUP, LTD DISCLAIMS BENEFICIAL OWNERSHIP.

ITEM (5)     OWNERSHIP OF LESS THAN FIVE PERCENT

             CHECK THE FOLLOWING BOX IF THE STATEMENT IS BEING FILED TO
             NOTIFY THAT THE OWNERSHIP IS NOW LESS THAN FIVE PERCENT

             { }

ITEM (6)     OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

             ALL SHARES REPRESENTED IN THIS REPORT ARE OWNED BY ADVISORY
             CLIENTS OF FINANCIAL & INVESTMENT MANAGEMENT GROUP, LTD
             NONE OF WHICH, TO OUR KNOWLEDGE, OWNS FIVE PERCENT OR MORE
             OF THE CLASS.

ITEM (7)     IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
             ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
             COMPANY:

             NOT APPLICABLE

ITEM (8)     IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

             NOT APPLICABLE

ITEM (9)     NOTICE OF DISSOLUTION OF GROUP

             NOT APPLICABLE

ITEM (10)    CERTIFICATION
             By signing below, I certify that, to the best of my knowledge
             and belief, the securities referred to above were acquired in
             the ordinary course of business and were not acquired for the
             purpose of and do not have the effect of changing or influecing
             the control of the issuer of such securities and were not
             acquired in the connection with or as a participant in any
             transaction having such purposes or effect.

             After reasonable inquiry and to the best of my knowledge and
             belief, I certify that the information set forth in this
             statement is true, complete and correct."


             JUNE 24, 2016

             Matthew Bohrer
             CCO