Counterparty Risks Member Counterparty Risks Member S&P 500® TR Index (reflects no deductions for fees, expenses or taxes) S&P 500® TR Index (reflects no deductions for fees, expenses or taxes) Liquidity Risks Member Liquidity Risks Member Initial Public Offerings Risk Member Initial Public Offerings Risk Member Regulatory Risk Member Regulatory Risk Member Bloomberg U.S. Corporate High Yield Bond Index (reflects no deductions for fees, expenses or taxes) Bloomberg U.S. Corporate High Yield Bond Index (reflects no deductions for fees, expenses or taxes) Collateralized Loan Obligations Risk Member Collateralized Loan Obligations Risk Member Currency Risk Member Currency Risk Member Single Security Concentration Risk Member Single Security Concentration Risk Member Kinetics Paradigm Fund, No Load Class Kinetics - The Paradigm Fund, No Load Class, C000013717 Foreign Securities Risk Member Foreign Securities Risk Member Credit/Default Risk Member Credit/Default Risk Member Valuation Risk Member Valuation Risk Member MSCI ACWI Index (reflects no deductions for fees, expenses or taxes) MSCI ACWI Index (reflects no deductions for fees, expenses or taxes) Management And Strategy Risk Member Management And Strategy Risk Member Kinetics Paradigm Fund Kinetics - The Paradigm Fund, S000005030 Kinetics Internet Fund Kinetics - The Internet Fund, S000005029 Kinetics Small Cap Opportunities Fund, Advisor Class A Kinetics - The Small Cap Opportunities Fund, Advisor Class A, C000013724 MSCI EAFE Index (reflects no deductions of fees, expenses or taxes) MSCI EAFE Index (reflects no deductions of fees, expenses or taxes) Warrants And Rights Risk Member Warrants And Rights Risk Member Crypto Asset Regulatory Risk Member Crypto Asset Regulatory Risk Member Cybersecurity Risk Member Cybersecurity Risk Member NASDAQ Composite® Index (reflects no deductions for fees, expenses or taxes) NASDAQ Composite® Index (reflects no deductions for fees, expenses or taxes) Collateralized Loan Obligations Leveraging Risk Member Collateralized Loan Obligations Leveraging Risk Member Kinetics Multi-Disciplinary Income Fund, No Load Class Kinetics - The Multi-Disciplinary Income Fund, No Load, C000058159 Crypto Asset Exposure Risk Member Crypto Asset Exposure Risk Member Sector Concentration Risk Member Sector Concentration Risk Member Kinetics Market Opportunities Fund, Institutional Class Kinetics - The Market Opportunities Fund, Institutional Class, C000013741 Petroleum And Gas Sector Risk Member Petroleum And Gas Sector Risk Member Large-Cap Company Risk Member Large-Cap Company Risk Member Fixed Income Risk, Prepayment Risk Member Fixed Income Risk, Prepayment Risk Member Kinetics Spin-Off And Corporate Restructuring Fund, Institutional Class The Kinetics Spin-Off And Corporate Restructuring Fund Institutional Class, C000192499, LSHUX Fixed Income Risk, Privately Issued Securities Risk Member Fixed Income Risk, Privately Issued Securities Risk Member Tax Risks Member Tax Risks Member Kinetics Spin-Off And Corporate Restructuring Fund, Advisor Class C The Kinetics Spin-Off and Corporate Restructuring Fund Advisor Class C, C000192498, LSHCX Volatility Risk Member Volatility Risk Member Kinetics Global Fund, Advisor Class C Kinetics -The Global Fund, Advisor Class C, C000013728 Kinetics Small Cap Opportunities Fund Kinetics - The Small Cap Opportunities Fund, S000005031 Kinetics Paradigm Fund, Advisor Class A Kinetics - The Paradigm Fund, Advisor Class A, C000013718 Event Driven Risk Member Event Driven Risk Member Redemption Risk Member Redemption Risk Member Kinetics Internet Fund, Advisor Class C Kinetics - The Internet Fund, Advisor Class C, C000013712 Below Investment Grade Debt Securities Risks Member Below Investment Grade Debt Securities Risks Member Management Risks Member Management Risks Member Kinetics Small Cap Opportunities Fund, Advisor Class C Kinetics - The Small Cap Opportunities Fund, Advisor Class C, C000013722 Crypto Asset Industry Risk Member Crypto Asset Industry Risk Member Subsidiary Risks Member Subsidiary Risks Member Small-Capitalization Company Risks Member Small-Capitalization Company Risks Member Kinetics Global Fund, Institutional Class Kinetics - The Global Fund, Institutional Class, C000013729 Kinetics Global Fund Kinetics - The Global Fund, S000005032 Exchange-Traded Funds (ETFs) Risks Member Exchange-Traded Funds (ETFs) Risks Member Management Risk Member Management Risk Member Kinetics Spin-Off And Corporate Restructuring Fund, Advisor Class A The Kinetics Spin-Off and Corporate Restructuring Fund Advisor Class A, C000192497, LSHAX Fixed Income Risk, Interest Rate Risk Member Fixed Income Risk, Interest Rate Risk Member Foreign Investment Risk Member Foreign Investment Risk Member Kinetics Multi-Disciplinary Income Fund Kinetics Multi-Disciplinary Income Fund, S000020819 Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) Fixed Income Risk, Floating Interest Rate Risk Member Fixed Income Risk, Floating Interest Rate Risk Member Institutional Class Prospectus Institutional Class Prospectus, CIK 0001083387 Temporary Defensive Position Risk Member Temporary Defensive Position Risk Member Kinetics Internet Fund, Institutional Class Kinetics - The Internet Fund, Institutional Class, C000013713 Kinetics Small Cap Opportunities Fund, No Load Class Kinetics - The Small Cap Opportunities Fund, No Load Class, C000013723 Fixed Income Risk, Extension Risk Member Fixed Income Risk, Extension Risk Member Convertible Securities Risks Member Convertible Securities Risks Member Equity Risk Member Equity Risk Member Leveraging Risks Member Leveraging Risks Member Emerging Markets Risk Member Emerging Markets Risk Member Kinetics Paradigm Fund, Institutional Class Kinetics - The Paradigm Fund, Institutional Class, C000013720 No Load Class Prospectus No Load Class Prospectus, CIK 0001083387 S&P 600® SmallCap Index TR (reflects no deductions for fees, expenses or taxes) S&P 600® SmallCap Index TR (reflects no deductions for fees, expenses or taxes) Kinetics Market Opportunities Fund, Advisor Class C Kinetics - The Market Opportunities Fund, Advisor Class C, C000013740 Kinetics Global Fund, No Load Class Kinetics - The Global Fund, No Load Class, C000013730 Option Transaction Risk Member Option Transaction Risk Member Preferred Stock Risk Member Preferred Stock Risk Member Specific Strategy/Research Risk Member Specific Strategy/Research Risk Member CBOE S&P 500 BuyWrite Monthly Index (reflects no deductions for fees, expenses or taxes) CBOE S&P 500 BuyWrite Monthly Index (reflects no deductions for fees, expenses or taxes) Fixed Income Risk Member Fixed Income Risk Member NASDAQ Composite® Total Return Index (reflects no deductions for fees, expenses or taxes) NASDAQ Composite® Total Return Index (reflects no deductions for fees, expenses or taxes) Kinetics Paradigm Fund, Advisor Class C Kinetics - The Paradigm Fund Advisor Class C, C000013719 Sector Emphasis Risks Member Sector Emphasis Risks Member Convertible Securities Risk Member Convertible Securities Risk Member Emerging Markets Risks Member Emerging Markets Risks Member Advisor A & C Prospectus Advisor A & C Prospectus, CIK 0001083387 Market Risks Member Market Risks Member MSCI ACWI Net Total Return Index (reflects no deductions for fees, expenses or taxes) MSCI ACWI Net Total Return Index (reflects no deductions for fees, expenses or taxes) Kinetics Market Opportunities Fund, Advisor Class A Kinetics - The Market Opportunities Fund, Advisor Class A, C000013738 MSCI USA Small Cap Index (reflects no deductions for fees, expenses or taxes) MSCI USA Small Cap Index (reflects no deductions for fees, expenses or taxes) Non-Diversification Risks Member Non-Diversification Risks Member Market Risk Member Market Risk Member Kinetics Internet Fund, Advisor Class A Kinetics - The Internet Fund, Advisor Class A, C000013715 Interest Rate Risk 1 Member Interest Rate Risk 1 Member Kinetics Small Cap Opportunities Fund, Institutional Class Kinetics - The Small Cap Opportunities Fund, Institutional Class, C000013725 Small And Medium-Size Company Risks Member Small And Medium-Size Company Risks Member Foreign Securities Risks Member Foreign Securities Risks Member Kinetics Spin-Off And Corporate Restructuring Fund, No Load Class The Kinetics Spin-Off and Corporate Restructuring Fund No Load Class, C000192500, LSHEX Kinetics Internet Fund, No Load Class Kinetics - The Internet Fund, No Load Class, C000013714 Fixed Income Risk, Income Risk Member Fixed Income Risk, Income Risk Member Derivatives Risk Member Derivatives Risk Member Collateralized Loan Obligations Manager Risk Member Collateralized Loan Obligations Manager Risk Member IPO Risk Member IPO Risk Member Special Situations Risks Member Special Situations Risks Member Kinetics Market Opportunities Fund, No Load Class Kinetics - The Market Opportunities Fund, No Load Class, C000013737 Kinetics Spin-Off And Corporate Restructuring Fund The Kinetics Spin-Off And Corporate Restructuring Fund, S000058593 Kinetics Market Opportunities Fund Kinetics -The Market Opportunities Fund, S000005035 S&P 500® Index TR (reflects no deductions for fees, expenses or taxes) S&P 500® Index TR (reflects no deductions for fees, expenses or taxes) CBOE S&P 500 PutWrite Index (PUT) (reflects no deductions for fees, expenses or taxes) CBOE S&P 500 PutWrite Index (PUT) (reflects no deductions for fees, expenses or taxes) Kinetics Global Fund, Advisor Class A Kinetics - The Global Fund, Advisor Class A, C000013726 S&P 600® SmallCap Index (reflects no deductions for fees, expenses or taxes) S&P 600® SmallCap Index (reflects no deductions for fees, expenses or taxes) Small-Cap And Mid-Cap Company Risk Member Small-Cap And Mid-Cap Company Risk Member Liquidity Risk Member Liquidity Risk Member Fixed Income Risk, Credit Risk Of Underlying CLO Collateral Risk Member Fixed Income Risk, Credit Risk Of Underlying CLO Collateral Risk Member S&P 500® Index (reflects no deductions for fees, expenses or taxes) S&P 500® Index (reflects no deductions for fees, expenses or taxes) Distressed Securities Risk Member Distressed Securities Risk Member Internet Industry Concentration Risks Member Internet Industry Concentration Risks Member Covenant Lite Corporate Loans Risk Member Covenant Lite Corporate Loans Risk Member Stock Selection Risks Member Stock Selection Risks Member