Kinetics Small Cap Opportunities Fund No Load Class 

The Kinetics Small Cap Opportunities Fund (KSCOX) operates on a non-diversified basis, directing all its investable capital into the Small Cap Portfolio. This portfolio, which is a specific series within the Kinetics Portfolios Trust, is primarily focused on equity investments. It commits a minimum of 80% of its net assets—along with any borrowed funds used for investment—to a range of equity instruments. These include common stocks, convertible securities, warrants, and other stock-like holdings (such as American, Global, and International Depositary Receipts). The portfolio targets these investments in smaller, publicly traded companies, both domestic and international, that are believed to offer compelling valuation opportunities.