# EDGAR Filing Document

**Accession Number:** 0001083387
**File Stem:** 0001145549-23-011869
**Filing Date:** 2023-2
**Character Count:** 14431
**Document Hash:** 9e7d58f5bf1617558c40a6b4886759f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-011869.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-011869

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KINETICS MUTUAL FUNDS INC
- **CENTRAL INDEX KEY:** 0001083387
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09303
- **FILM NUMBER:** 23677116

**BUSINESS ADDRESS:**
- **STREET 1:** 470 PARK AVENUE SOUTH
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 914-703-6900

**MAIL ADDRESS:**
- **STREET 1:** 470 PARK AVENUE SOUTH
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MEDICAL FUND & THE CURE FOR CANCER INC
- **DATE OF NAME CHANGE:** 19990406

## Series and Classes Contracts Data

### Kinetics Spin-Off and Corporate Restructuring Fund (Series ID: S000058593)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000192497 | Advisor Class A     | LSHAX           |
| C000192498 | Advisor Class C     | LSHCX           |
| C000192499 | Institutional Class | LSHUX           |
| C000192500 | No Load Class       | LSHEX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Kinetics Mutual Funds

- **b. Investment Company Act file number:** 811-09303

- **c. CIK number of Registrant:** 0001083387

- **d. LEI of Registrant:** 254900Z4PTNUE2SN9529

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 470 Park Avenue South

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10016

  - **Telephone number:** 800-930-3828

**Item A.2. Information about the Series.**

- **a. Name of Series:** Kinetics Spin-Off and Corporate Restructuring Fund

- **b. EDGAR series identifier (if any):** S000058593

- **c. LEI of Series:** 2549001EDIR1NDKBR887

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $35362640.31

**Total Liabilities:** $230145.89

**Net Assets:** $35132494.42

**Cash Not Reported:** $23955.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000192497 | 21.47%               | 9.04%                | -6.93%               |
| Class ID C000192498 | 21.34%               | 8.99%                | -7.01%               |
| Class ID C000192499 | 21.48%               | 9.08%                | -6.92%               |
| Class ID C000192500 | 21.50%               | 9.02%                | -6.95%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $520666.35               | $5597399.49                                |
| Month 2  | $801145.75               | $2367096.62                                |
| Month 3  | $896985.97               | $-3570127.53                               |

### Schedule of Portfolio Investments

| Name                           | Title                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AP Moller - Maersk A/S         | AP Moller - Maersk A/S                 | CUSIP: 00202F102<br>LEI: 549300D2K6PKKKXVNN73 | Long             | EC               | CORP              | DK        |      8000 | NS      | $89760.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Capital Group Inc   | Associated Capital Group Inc           | CUSIP: 045528106<br>LEI: 549300FBGXGSSUE01W24 | Long             | EC               | CORP              | US        |     34300 | NS      | $1440257.00   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc            | CSW Industrials Inc                    | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |     11000 | NS      | $1275230.00   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Southwest Corp         | Capital Southwest Corp                 | CUSIP: 140501107<br>LEI: 54930023YZ4YEJEDBO56 | Long             | EC               | CORP              | US        |     17000 | NS      | $290700.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Civeo Corp                     | Civeo Corp                             | CUSIP: 17878Y207<br>LEI: 254900H0BM0N0O4MSY43 | Long             | EC               | CORP              | US        |     34000 | NS      | $1057400.00   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Crimson Wine Group Ltd         | Crimson Wine Group Ltd                 | CUSIP: 22662X100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $56100.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dundee Corp                    | Dundee Corp                            | CUSIP: 264901109<br>LEI: 549300LX18ZNW1LEMU13 | Long             | EC               | CORP              | CA        |     28000 | NS      | $29120.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay Inc                               | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |       100 | NS      | $4147.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Urbana Corp                    | Urbana Corp                            | CUSIP: 91707P109<br>LEI: 5493003WCSNG13LU3180 | Long             | EC               | CORP              | CA        |      4834 | NS      | $15208.89     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GAMCO Investors Inc            | GAMCO Investors Inc                    | CUSIP: 361438104<br>LEI: 51A2MDO9SJ2HTOSMLZ76 | Long             | EC               | CORP              | US        |     41354 | NS      | $630234.96    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Gannett Co Inc                 | Gannett Co Inc                         | CUSIP: 36472T109<br>LEI: 549300JQ2PU0RI3ZBA32 | Long             | EC               | CORP              | US        |     10000 | NS      | $20300.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Holdings Co             | Graham Holdings Co                     | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |      1000 | NS      | $604210.00    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Corp/The         | Howard Hughes Corp/The                 | CUSIP: 44267D107<br>LEI: 549300BVHY25JZC1KI49 | Long             | EC               | CORP              | US        |      3900 | NS      | $298038.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty For | Liberty Media Corp-Liberty Formula One | CUSIP: 531229870<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3600 | NS      | $192348.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Bra | Liberty Media Corp-Liberty Braves      | CUSIP: 531229888<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1590 | NS      | $51245.70     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Manitowoc Co Inc/The           | Manitowoc Co Inc/The                   | CUSIP: 563571405<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | EC               | CORP              | US        |      2800 | NS      | $25648.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Masco Corp                     | Masco Corp                             | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               | CORP              | US        |      3000 | NS      | $140010.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesabi Trust                   | Mesabi Trust                           | CUSIP: 590672101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       550 | NS      | $9911.00      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Group Holding Co        | Morgan Group Holding Co                | CUSIP: 61735R203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       724 | NS      | $1448.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Prestige Consumer Healthcare I | Prestige Consumer Healthcare Inc       | CUSIP: 74112D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       797 | NS      | $49892.20     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Rafael Holdings Inc            | Rafael Holdings Inc                    | CUSIP: 75062E106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $1870.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Advanced Materials In | Rayonier Advanced Materials Inc        | CUSIP: 75508B104<br>LEI: 54930053QJ7OUGZG4F72 | Long             | EC               | CORP              | US        |      5800 | NS      | $55680.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Rumble Inc                     | Rumble Inc                             | CUSIP: 78137L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       200 | NS      | $1190.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EW Scripps Co/The              | EW Scripps Co/The                      | CUSIP: 811054402<br>LEI: 549300U1OW41QPKYW028 | Long             | EC               | CORP              | US        |      8000 | NS      | $105520.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tejon Ranch Co                 | Tejon Ranch Co                         | CUSIP: 879080109<br>LEI: 549300TMNDO77VJ6J111 | Long             | EC               | CORP              | US        |       400 | NS      | $7536.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corp        | Texas Pacific Land Corp                | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9611 | NS      | $22530394.53  | 64.13%            |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA - USBGFS 7        | US BANK MMDA - USBGFS 7                | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   4753793 | NS      | $4753792.67   | 13.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Vista Outdoor Inc              | Vista Outdoor Inc                      | CUSIP: 928377100<br>LEI: 549300QI2D33ESTJLN81 | Long             | EC               | CORP              | US        |      3200 | NS      | $77984.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Urbana Corp                    | Urbana Corp                            | CUSIP: 91707P208<br>LEI: 5493003WCSNG13LU3180 | Long             | EC               | CORP              | CA        |      1400 | NS      | $4011.82      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Digital Holdings Ltd    | Galaxy Digital Holdings Ltd            | CUSIP: N/A<br>LEI: 254900ULFH90UKBGDV65       | Long             | EC               | CORP              | US        |      5000 | NS      | $14290.99     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DREAM Unlimited Corp           | DREAM Unlimited Corp                   | CUSIP: 26153M507<br>LEI: 549300OLZNGGLFVS4206 | Long             | EC               | CORP              | CA        |     61000 | NS      | $1145664.70   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PrairieSky Royalty Ltd         | PrairieSky Royalty Ltd                 | CUSIP: 739721108<br>LEI: 529900AXG582AP7CV733 | Long             | EC               | CORP              | CA        |     12100 | NS      | $193921.71    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** Kinetics Mutual Funds

**Signature:** /s/ Jay Kesslen

**Name of Signer:** Kinetics Mutual Funds Inc

**Title:** Vice President