Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TEXAS PACIFIC LAND CORP | — | $960.70M | 69.29% |
| Grayscale Bitcoin Trust ETF | GBTC | $102.69M | 7.41% |
| Landbridge Company, LLC | LB US | $63.28M | 4.56% |
| US BANK MMDA - USBGFS 7 | USBGFS7 | $56.48M | 4.07% |
| HAWAIIAN ELECTRIC INDS INC | — | $52.00M | 3.75% |
| BROOKFIELD CORP CL A | — | $34.38M | 2.48% |
| CBOE GLOBAL MARKETS INC | — | $16.86M | 1.22% |
| LIVE NATION ENTERTAINMENT INC | — | $13.73M | 0.99% |
| CACI INTL-A | — | $13.05M | 0.94% |
| Grayscale Bitcoin Mini Trust ETF | BTC | $11.67M | 0.84% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026Opened
2
Exited
2
Increased
4
Decreased
10
Unchanged
33
How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Kinetics Spin-Off and Corporate Restructuring Fund · LSHAX, LSHCX, LSHUX, LSHEX | 83% | 1.29% |
| Kinetics Small Cap Opportunities Portfolio | 76% | — |
| Kinetics Market Opportunities Portfolio | 70% | — |
Advisers
As of December 31, 2025 · N-CEN
| Firm | Role |
|---|---|
| Horizon Kinetics Asset Management | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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