# Portfolio overlap — LSHEX vs BCDF

Comparing **Kinetics Spin-Off and Corporate Restructuring Fund** (2026-03-31) and **Horizon Kinetics Blockchain Development ETF** (2026-03-31).

- Shared positions: 8
- Kinetics Spin-Off and Corporate Restructuring Fund covered by Horizon Kinetics Blockchain Development ETF: 0.1321279638941084560272518464
- Horizon Kinetics Blockchain Development ETF covered by Kinetics Spin-Off and Corporate Restructuring Fund: 0.1321279638941084560272518464

## Kinetics Spin-Off and Corporate Restructuring Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| TEXAS PACIFIC LAND CORP | 0.769178 |  |
| US BANK MMDA - USBGFS 7 | 0.058869 | ✓ |
| Landbridge Company, LLC | 0.049238 | ✓ |
| ASSOCIATED CAPITAL GROUP INC W/I | 0.033527 |  |
| HAWAIIAN ELECTRIC INDS INC | 0.030598 | ✓ |
| GAMCO INVSTRS. INC | 0.010148 |  |
| WATERBRIDGE IN-A | 0.009394 |  |
| PRAIRIESKY ROYALTY LTD | 0.006909 |  |
| Civeo Corporation | 0.005923 |  |
| Grayscale Bitcoin Mini Trust ETF | 0.003643 | ✓ |
| WHITE MOUNTAINS INS GROUP LTD | 0.003169 |  |
| SB Technology Inc | 0.002487 |  |
| BOLT DATA & ENERGY INC. | 0.002487 |  |
| MIAMI INTERNATIONAL HOLDINGS INC | 0.002467 | ✓ |
| ATLANTA BRAVES HOLDINGS INC | 0.001799 |  |
| GALAXY DIGITAL INC A | 0.001652 | ✓ |
| EAGLE MATERIALS INC | 0.001611 |  |
| FAIRFAX INDI-SVS | 0.001118 |  |
| Urbana Corp. | 0.001071 |  |
| TXSE Group, Inc | 0.000744 |  |
| GENERAL ELECTRIC CO | 0.000706 |  |
| LIBERTY ENERGY INC CL A | 0.000696 |  |
| GE VERNOVA LLC | 0.000543 |  |
| Grayscale Bitcoin Cash Trust | 0.000506 |  |
| MESABI TRUST | 0.000431 |  |
| Urbana Corp. (Non-Voting) | 0.000247 | ✓ |
| KNIFE RIVER HOLDING CO W/I | 0.000203 |  |
| SHS BEN INT | 0.000140 |  |
| SEAPORT ENTERTAINMENT GROUP INC | 0.000100 |  |
| Partners Value Investments LP | 0.000096 |  |
| FAIRFAX FINL HLDGS LTD SUB VTG | 0.000085 |  |
| TOEI ANIMATION | 0.000081 | ✓ |
| Grayscale Bitcoin Trust ETF | 0.000079 |  |
| Anglo American PLC - ADR | 0.000034 |  |
| ECHOSTAR CORP CL A | 0.000012 |  |
| VALTERRA PLATINUM LTD ADR | 0.000008 |  |
| Grayscale Litecoin Trust | 0.000002 |  |

## Horizon Kinetics Blockchain Development ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| US BANK MMDA - USBGFS 7 | 0.074481 | ✓ |
| CBOE GLOBAL MARKETS INC | 0.074312 |  |
| Urbana Corp. (Non-Voting) | 0.073161 | ✓ |
| SINGAPORE EXCH | 0.063678 |  |
| TMX GROUP LTD | 0.054742 |  |
| INTERCONTINENTAL EXCHANGE INC | 0.051060 |  |
| DEUTSCHE BOERSE | 0.049663 |  |
| CACI INTL-A | 0.049566 |  |
| NASDAQ INC | 0.047554 |  |
| HAWAIIAN ELECTRIC INDS INC | 0.045379 | ✓ |
| JAPAN EXCHANGE G | 0.039415 |  |
| MIAMI INTERNATIONAL HOLDINGS INC | 0.034615 | ✓ |
| Landbridge Company, LLC | 0.034571 | ✓ |
| WISDOMTREE INVESTMENTS INC | 0.032016 |  |
| TRADEWEB MARKETS INC A | 0.030133 |  |
| ASX LTD | 0.028927 |  |
| GALAXY DIGITAL INC A | 0.028344 | ✓ |
| SCIENCE APPLICATIONS INTERNATIONAL CORP | 0.026490 |  |
| LONDON STOCK EXCHANGE GRP | 0.026485 |  |
| CME GROUP INC CL A | 0.024454 |  |
| OTC Markets Group, Inc., Class A | 0.022918 |  |
| EURONEXT NV | 0.020639 |  |
| MARKETAXESS HLDGS INC | 0.016427 |  |
| BROADRIDGE FINL | 0.015099 |  |
| Grayscale Bitcoin Mini Trust ETF | 0.007641 | ✓ |
| TOEI ANIMATION | 0.006776 | ✓ |
| IG PORT INC | 0.005976 |  |
| BAKKT INC A | 0.005181 |  |
| NZX LTD | 0.004192 |  |
| BOOZ ALLEN HAMILTON HLDG CL A | 0.003938 |  |
| CIRCLE INTERNET GROUP INC A | 0.000999 |  |
| FERMI INC | 0.000519 |  |
| IREN LTD | 0.000359 |  |
| TEL AVIV STOCK E | 0.000230 |  |
| THARIMMUNE INC | 0.000063 |  |


## Sources

- N-PORT (fund A) — accession `0000894189-26-016407` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1083387/000089418926016407/0000894189-26-016407-index.htm>
- N-PORT (fund B) — accession `0001193125-26-236585` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1683471/000119312526236585/0001193125-26-236585-index.htm>

---

_Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._

_Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._

_Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See <https://fundwatcher.app/terms/>_