# EDGAR Filing Document

**Accession Number:** 0001113229
**File Stem:** 0001145549-25-052154
**Filing Date:** 2025-8
**Character Count:** 16051
**Document Hash:** 2cdc3a222027931e7a41b5b225062b90
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-052154.hdr.sgml**: 20250821

**ACCESSION NUMBER**: 0001145549-25-052154

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250821

**DATE AS OF CHANGE**: 20250821

**PERIOD START**: 20251231

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09923
- **FILM NUMBER:** 251238866

**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 Internet Portfolio (Series ID: S000007851)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000021360 | Kinetics Internet 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 Internet Portfolio

- **b. EDGAR series identifier (if any):** S000007851

- **c. LEI of Series:** 254900I7GER7MJNWZY07

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $352456741.48

**Total Liabilities:** $4597418.61

**Net Assets:** $347859322.87

**Amount of Assets Invested in Other Investment Companies:** $50785995.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000021360 | 3.41%                | 6.06%                | 7.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $889951.29               | $21361736.74                               |
| Month 2  | $252241.22               | $8780405.23                                |
| Month 3  | $111265.28               | $4230595.42                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Atlanta Braves Holdings Inc          | Atlanta Braves Holdings Inc                   | CUSIP: 047726302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $374160.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bakkt Holdings Inc                   | Bakkt Holdings Inc                            | CUSIP: 05759B305<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80000 | NS      | $1116000.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| Booz Allen Hamilton Holding Co       | Booz Allen Hamilton Holding Corp              | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |      1400 | NS      | $145782.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions       | Broadridge Financial Solutions Inc            | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |      2100 | NS      | $510363.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                        | CME Group Inc                                 | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      4000 | NS      | $1102480.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc               | CACI International Inc                        | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     20000 | NS      | $9534000.00   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                           | Copart Inc                                    | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |       400 | NS      | $19628.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                     | CoStar Group Inc                              | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |       200 | NS      | $16080.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CreditRiskMonitor.com Inc            | CreditRiskMonitor.com Inc                     | CUSIP: 225426105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       780 | NS      | $1971.84      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Digital Inc                   | Galaxy Digital Inc                            | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |    150000 | NS      | $3285000.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: —       |
| Grayscale Bitcoin Trust ETF          | Grayscale Bitcoin Trust ETF                   | CUSIP: 389637109<br>LEI: 549300XZGUJEF0EHBE41 | Long             | EC               | RF                | US        |   2142099 | NS      | $181714258.17 | 52.24%            |  |  |  | No            |                  1 | On Loan: No      |
| Grayscale Litecoin Trust             | Grayscale Litecoin Trust                      | CUSIP: 38963W104<br>LEI: N/A                  | Long             | EC               | RF                | US        |         4 | NS      | $26.60        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Grayscale Bitcoin Mini Trust E       | Grayscale Bitcoin Mini Trust ETF              | CUSIP: 389930207<br>LEI: 529900WHTNX5LZCNWB27 | Long             | EC               | RF                | US        |    428419 | NS      | $20457007.25  | 5.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Hellenic Exchanges - Athens St       | Hellenic Exchanges - Athens Stock Exchange SA | CUSIP: N/A<br>LEI: 549300GSRN07MNENPL97       | Long             | EC               | CORP              | GR        |     32000 | NS      | $225790.11    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc             | Japan Exchange Group Inc                      | CUSIP: 471059105<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |      6200 | NS      | $62744.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Landbridge Co LLC                    | Landbridge Co LLC                             | CUSIP: 514952100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61200 | NS      | $4135896.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Entertai       | Madison Square Garden Entertainment Corp      | CUSIP: 558256103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $159880.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                       | Mastercard Inc                                | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      5000 | NS      | $2809700.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesabi Trust                         | Mesabi Trust                                  | CUSIP: 590672101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37900 | NS      | $908084.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Inc                           | Nasdaq Inc                                    | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |      2100 | NS      | $187782.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NZX Ltd                              | NZX Ltd                                       | CUSIP: N/A<br>LEI: 254900KTE7C5U39QMD43       | Long             | EC               | CORP              | NZ        |      1200 | NS      | $1089.88      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Television Holdings Inc       | Nippon Television Holdings Inc                | CUSIP: N/A<br>LEI: 353800QI43C3H97E4W63       | Long             | EC               | CORP              | JP        |       200 | NS      | $4647.06      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OTC Markets Group Inc                | OTC Markets Group Inc                         | CUSIP: 67106F108<br>LEI: 254900LQDMW14QIVAH45 | Long             | EC               | CORP              | US        |    121000 | NS      | $6897000.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Basin Royalty Trust          | Permian Basin Royalty Trust                   | CUSIP: 714236106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12550 | NS      | $156373.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares UltraPro Short QQQ         | ProShares UltraPro Short QQQ                  | CUSIP: 74347G192<br>LEI: KC8ZSAS0N653Z8PPTO65 | Long             | EC               | RF                | US        |     25126 | NS      | $491715.82    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ProShares UltraPro QQQ               | ProShares UltraPro QQQ                        | CUSIP: 74347X831<br>LEI: 03026FQTQRJ0JSTBI779 | Long             | EC               | RF                | US        |      6124 | NS      | $508292.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| IG Port Inc                          | IG Port Inc                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     32200 | NS      | $488796.92    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MIAMI INTERNATIONAL HOLDINGS INC     | MIAMI INTERNATIONAL HOLDINGS INC              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    268000 | NS      | $3159720.00   | 0.91%             |  |  |  | No            |                  3 | On Loan: No      |
| MIAMI INTERNATIONAL HOLDINGS WARRANT | MIAMI INTERNATIONAL HOLDINGS WARRANT          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |     40819 | NS      | $162459.62    | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Atlanta Braves Holdings Inc          | Atlanta Braves Holdings Inc                   | CUSIP: 047726104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $393680.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sphere Entertainment Co              | Sphere Entertainment Co                       | CUSIP: 55826T102<br>LEI: 254900ZW4JWKYRZZ9A91 | Long             | EC               | CORP              | US        |      4000 | NS      | $167200.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Toei Animation Co Ltd                | Toei Animation Co Ltd                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      7000 | NS      | $159681.96    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                       | S&P Global Inc                                | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       113 | NS      | $59583.77     | 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        |     63078 | NS      | $66634968.42  | 19.16%            |  |  |  | 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        |  41345212 | NS      | $41345211.66  | 11.89%            |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc                 | Verisk Analytics Inc                          | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      7000 | NS      | $2180500.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SB Technology Inc                    | SB Technology Inc                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    156886 | NS      | $2700008.06   | 0.78%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-20

**Name of Applicant:** Kinetics Portfolios Trust

**Signature:** /s/ Jay Kesslen

**Name of Signer:** Kinetics Portfolios Trust

**Title:** Vice President