# EDGAR Filing Document

**Accession Number:** 0001113229
**File Stem:** 0000894189-25-004498
**Filing Date:** 2025-6
**Character Count:** 2367
**Document Hash:** 3485e9ca2b8a25c055845f3e633e9d12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-004498.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0000894189-25-004498

**CONFORMED SUBMISSION TYPE**: CORRESP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250617

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KINETICS PORTFOLIOS TRUST
- **CENTRAL INDEX KEY:** 0001113229

**ORGANIZATION NAME:**
- **EIN:** 223723753
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** CORRESP

**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

**Kinetics Portfolios Trust**

615 East Michigan Street \| Milwaukee, Wisconsin 53202

June 17, 2025

Ms. Samantha Brutlag

U.S. Securities and Exchange Commission

Division of Investment Management

100 F Street NE

Washington, DC 20549<br>

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|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Re:** | **Kinetics Portfolios Trust (the "Trust")<br>File No. 811-09923** |

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Dear Ms. Brutlag:

This correspondence responds to a comment that the Trust received from the staff (the "Staff") of the U.S. Securities and Exchange Commission ("SEC") on June 9, 2025, with respect to Amendment No. 44 to the Trust's Registration Statement on Form N-1A filed May 8, 2025 (the "Amendment") with respect to each of its series (each a "Portfolio," together the "Portfolios"). For your convenience, the comment has been reproduced with a response following the comment. Capitalized terms not otherwise defined have the same meaning as in the Amendment.

**<u>Prospectus</u>**

**Comment 1.Discussion regarding the Secured Overnight Financing Rate ("SOFR Risk") on page 66 of the Prospectus should generally be updated and revised given the discontinuation of LIBOR and history of SOFR.**

*Response:&nbsp;&nbsp;&nbsp;&nbsp;*The Trust undertakes to make clarifying changes to this disclosure in the next POS AMI filing.

\* \* \*

If you have any questions regarding the above response, please do not hesitate to contact Chad Fickett at (608) 716-8890 or chad.fickett@usbank.com.

Sincerely,

<u>/s/ Jay Kesslen</u> 

Jay Kesslen

Assistant Secretary and Vice President of the Trust and the Company

<br>