# EDGAR Filing Document

**Accession Number:** 0001113229
**File Stem:** 0001145549-23-011854
**Filing Date:** 2023-2
**Character Count:** 20270
**Document Hash:** e4aca59d83e5c428cbf0ee81f9514b3d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-011854.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-011854

**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 PORTFOLIOS TRUST
- **CENTRAL INDEX KEY:** 0001113229
- **IRS NUMBER:** 223723753
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09923
- **FILM NUMBER:** 23677089

**BUSINESS ADDRESS:**
- **STREET 1:** 470 PARK AVENUE SOUTH
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** 9147036904

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

## Series and Classes Contracts Data

### Kinetics Global Portfolio (Series ID: S000007852)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000021361 | Kinetics Global Portfolio |  |

## 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 Portfolios Trust

- **b. Investment Company Act file number:** 811-09923

- **c. CIK number of Registrant:** 0001113229

- **d. LEI of Registrant:** 254900ZCVXM48Q9D2T43

- **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 Global Portfolio

- **b. EDGAR series identifier (if any):** S000007852

- **c. LEI of Series:** 254900060RMJNL198823

**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:** $29819075.87

**Total Liabilities:** $1361449.63

**Net Assets:** $28457626.24

**Amount of Assets Invested in Other Investment Companies:** $1478413.33

**Cash Not Reported:** $990.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021361 | -5.96%               | -4.36%               | -6.53%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-256882.86              | $2247852.76                                |
| Month 2  | $-30138.82               | $491469.26                                 |
| Month 3  | $-4.64                   | $-708465.97                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BRAEMAR PLC                    | BRAEMAR PLC                      | CUSIP: N/A<br>LEI: 213800EV6IKTTHJ83C19       | Long             | EC               | CORP              | GB        |      2200 | NS      | $7846.12      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Clarkson PLC                   | Clarkson PLC                     | CUSIP: N/A<br>LEI: 2138007G6BGTEHI3OT22       | Long             | EC               | CORP              | GB        |     11100 | NS      | $434117.95    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Capital Group Inc   | Associated Capital Group Inc     | CUSIP: 045528106<br>LEI: 549300FBGXGSSUE01W24 | Long             | EC               | CORP              | US        |     12900 | NS      | $541671.00    | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                | Brookfield Corp                  | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |      4000 | NS      | $125840.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Lt | Brookfield Asset Management Ltd  | CUSIP: 113004105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1000 | NS      | $28670.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                    | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       200 | NS      | $33632.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc         | CACI International Inc           | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |       100 | NS      | $30059.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                  | Carnival Corp                    | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | US        |      1600 | NS      | $12896.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Civeo Corp                     | Civeo Corp                       | CUSIP: 17878Y207<br>LEI: 254900H0BM0N0O4MSY43 | Long             | EC               | CORP              | US        |     12800 | NS      | $398080.00    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Altius Minerals Corp           | Altius Minerals Corp             | CUSIP: 020936100<br>LEI: 54930083UJGDUCMJMU61 | Long             | EC               | CORP              | CA        |       200 | NS      | $3280.65      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Urbana Corp                    | Urbana Corp                      | CUSIP: 91707P109<br>LEI: 5493003WCSNG13LU3180 | Long             | EC               | CORP              | CA        |     11200 | NS      | $35237.81     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp             | Franco-Nevada Corp               | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       200 | NS      | $27296.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GAMCO Investors Inc            | GAMCO Investors Inc              | CUSIP: 361438104<br>LEI: 51A2MDO9SJ2HTOSMLZ76 | Long             | EC               | CORP              | US        |     27200 | NS      | $414528.00    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Grayscale Bitcoin Trust BTC    | Grayscale Bitcoin Trust BTC      | CUSIP: 389637109<br>LEI: 549300XZGUJEF0EHBE41 | Long             | EC               | RF                | US        |    153520 | NS      | $1272680.80   | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Grayscale Ethereum Classic Tru | Grayscale Ethereum Classic Trust | CUSIP: 38963Q107<br>LEI: 54930092HET8DVEQYD83 | Long             | EC               | RF                | US        |        24 | NS      | $73.44        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC Inc                        | IAC Inc                          | CUSIP: 44891N208<br>LEI: 549300TO56L57RP6P031 | Long             | EC               | CORP              | US        |       100 | NS      | $4440.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc       | Japan Exchange Group Inc         | CUSIP: 471059105<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |       400 | NS      | $2868.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Maverix Metals Inc             | Maverix Metals Inc               | CUSIP: 57776F405<br>LEI: 549300CPYYBEBU8HQN80 | Long             | EC               | CORP              | CA        |      4000 | NS      | $18720.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesabi Trust                   | Mesabi Trust                     | CUSIP: 590672101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20900 | NS      | $376618.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: —       |
| ASX Ltd                        | ASX Ltd                          | CUSIP: N/A<br>LEI: 549300VSBVYUCBIQKT71       | Long             | EC               | CORP              | AU        |       800 | NS      | $37049.19     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Group Holding Co        | Morgan Group Holding Co          | CUSIP: 61735R203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        53 | NS      | $106.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Novagold Resources Inc         | Novagold Resources Inc           | CUSIP: 66987E206<br>LEI: 529900587LVZTJ2BHS60 | Long             | EC               | CORP              | CA        |      4000 | NS      | $23920.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG             | Deutsche Boerse AG               | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               | CORP              | DE        |       600 | NS      | $103662.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Basin Royalty Trust    | Permian Basin Royalty Trust      | CUSIP: 714236106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41600 | NS      | $1048320.00   | 3.68%             |  |  |  | No            |                  1 | On Loan: —       |
| Rumble Inc                     | Rumble Inc                       | CUSIP: 78137L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       600 | NS      | $3570.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Sandstorm Gold Ltd             | Sandstorm Gold Ltd               | CUSIP: 80013R206<br>LEI: 549300QWJPV45VQF1B33 | Long             | EC               | CORP              | CA        |    108800 | NS      | $572288.00    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SEARS HOLDINGS CORP            | Sears Holdings Corp              | CUSIP: 812350AG1<br>LEI: 549300KWWR4P1RYUVG65 | Long             | DBT              | CORP              | US        |     41080 | PA      | $0.00         | 0.00%             | 2019-12-15      | None          | 8.00%                 | No            |                  3 | On Loan: No      |
| Tejon Ranch Co                 | Tejon Ranch Co                   | CUSIP: 879080109<br>LEI: 549300TMNDO77VJ6J111 | Long             | EC               | CORP              | US        |     10400 | NS      | $195936.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corp        | Texas Pacific Land Corp          | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2878 | NS      | $6746693.94   | 23.71%            |  |  |  | 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        |  15905357 | NS      | $15905357.47  | 55.89%            |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp   | Wheaton Precious Metals Corp     | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |       700 | NS      | $27356.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd       | Wilmar International Ltd         | CUSIP: N/A<br>LEI: 549300H2EAI4YRLWBB20       | Long             | EC               | CORP              | SG        |      4200 | NS      | $13076.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Urbana Corp                    | Urbana Corp                      | CUSIP: 91707P208<br>LEI: 5493003WCSNG13LU3180 | Long             | EC               | CORP              | CA        |       600 | NS      | $1719.35      | 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        |     43400 | NS      | $124045.79    | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| Rubis SCA                      | Rubis SCA                        | CUSIP: N/A<br>LEI: 969500MGFIKUGLTC9742       | Long             | EC               | CORP              | FR        |       200 | NS      | $5266.59      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TerraVest Industries Inc       | TerraVest Industries Inc         | CUSIP: 88105G103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      8000 | NS      | $163013.29    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao    | B3 SA - Brasil Bolsa Balcao      | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |     30000 | NS      | $75742.22     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BIGLEAGUE                      | BIGLEAGUE                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1818 | NS      | $99990.00     | 0.35%             |  |  |  | No            |                  3 | On Loan: No      |
| Omni Bridgeway Ltd             | Omni Bridgeway Ltd               | CUSIP: N/A<br>LEI: 529900T4EL2A89FPP865       | Long             | EC               | CORP              | AU        |     15000 | NS      | $36970.21     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Burford Capital Ltd            | Burford Capital Ltd              | CUSIP: N/A<br>LEI: 549300FUKUWFYJMT2277       | Long             | EC               | CORP              | US        |       300 | NS      | $2419.12      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DREAM Unlimited Corp           | DREAM Unlimited Corp             | CUSIP: 26153M507<br>LEI: 549300OLZNGGLFVS4206 | Long             | EC               | CORP              | CA        |      1000 | NS      | $18781.39     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PrairieSky Royalty Ltd         | PrairieSky Royalty Ltd           | CUSIP: 739721108<br>LEI: 529900AXG582AP7CV733 | Long             | EC               | CORP              | CA        |     22800 | NS      | $365406.20    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                    | Euronext NV                      | CUSIP: N/A<br>LEI: 724500QJ4QSZ3H9QU415       | Long             | EC               | CORP              | NL        |      1120 | NS      | $82915.90     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PARTNERS VALUE INVESTMENTS I   | Partners Value Investments LP    | CUSIP: 70214M114<br>LEI: N/A                  | N/A              | DE               | CORP              | CA        |      3493 | NS      | $15994.53     | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| Partners Value Investments LP  | Partners Value Investments LP    | CUSIP: 70214T119<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      2193 | NS      | $105276.96    | 0.37%             |  |  |  | No            |                  3 | On Loan: No      |
| PARTNERS VALUE INVEST LP       | Partners Value Investments LP    | CUSIP: 70214T101<br>LEI: N/A                  | Long             | EP               | CORP              | CA        |       515 | NS      | $9785.00      | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| Siem Industries Inc            | Siem Industries Inc              | CUSIP: N/A<br>LEI: 549300N2HGK6EBHM3F03       | Long             | EC               | CORP              | KY        |      5500 | NS      | $126500.00    | 0.44%             |  |  |  | No            |                  3 | On Loan: No      |
| Liberty Latin America Ltd      | Liberty Latin America Ltd        | CUSIP: N/A<br>LEI: 213800YWQHEAX7CAVO83       | Long             | EC               | CORP              | US        |         9 | NS      | $67.77        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd      | Liberty Latin America Ltd        | CUSIP: N/A<br>LEI: 213800YWQHEAX7CAVO83       | Long             | EC               | CORP              | US        |        22 | NS      | $167.20       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Elbit Systems Ltd              | Elbit Systems Ltd                | CUSIP: N/A<br>LEI: 529900Q9CB1REUMZSS32       | Long             | EC               | CORP              | IL        |        10 | NS      | $1640.40      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Laboratories NV           | Core Laboratories NV             | CUSIP: N/A<br>LEI: 724500MDYY5VBSAF5W50       | Long             | EC               | CORP              | NL        |       200 | NS      | $4054.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc    | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |       500 | NS      | $51295.00     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd    | Royal Caribbean Cruises Ltd      | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |       100 | NS      | $4943.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Kinetics Portfolios Trust

**Signature:** /s/ Jay Kesslen

**Name of Signer:** Kinetics Portfolios Trust

**Title:** Vice President