The information on this website is only for residents of the United States and its territories. This site should not be considered a solicitation to purchase or an offer to sell shares of Kinetics Mutual Funds in any state or territory where such actions would be deemed unlawful under the laws of that jurisdiction.

This material is intended to be reviewed in conjunction with a current prospectus, which includes all fees and expenses that apply to a continued investment, as well as information regarding the risk factors, policies and objectives of the funds. Read it carefully before investing.

Because The Medical Fund, The Internet Fund and The Market Opportunities Funds invest in a single industry, their shares do not represent a complete investment program. Internet biotechnology and certain capital markets or gaming stocks are subject to a rate of change in technology, obsolescence and competition which is generally higher than that of other industries, hence they may experience extreme price and volume fluctuations.

Because smaller companies [for The Small Cap Opportunities Fund] often have narrower markets and limited financial resources, they present more risk than larger more well established companies. Investing in foreign securities can carry higher returns than those generally associated with U.S. investments, however, foreign securities may be substantially riskier than U.S. investments.

The Alternative Income Fund and Multi-Disciplinary Fund invest in options and other derivative instruments, which are specialized activities and entail greater than ordinary investment risks, including that they may be illiquid, difficult to price and leveraged so that small changes may produce disproportionate losses. The Funds may rely on SEC orders that permit them to invest greater than 5% of their total assets in the securities of other investment companies, some of which may be exchange traded funds (ETFs). As a shareholder in an ETF, the Alternative Income Fund and The Multi-Disciplinary Fund will each bear its pro rata portion of an ETFs expenses, including advisory fees, in addition to its own expenses.

The Alternative Income Fund and Multi-Disciplinary Fund may invest in debt securities. Investments in debt securities rated below investment grade (i.e., junk bonds) are subject to increased risks.

All Kinetics Mutual Funds are classified as non-diversified fund. Therefore,, the value of their shares may fluctuate more than shares invested in a broader range of industries. You should consult the fundís prospectus for a complete list of risks associated with your investment.

Kinetics Mutual Funds, unlike other investment companies that directly acquire and manage their own portfolios of securities, the Funds pursue their investment objectives by investing all of their investable assets in a corresponding portfolio series of Kinetics Portfolios Trust.

Distributor: Kinetics Funds Distributor LLC is not an affiliate of Kinetics Mutual Funds, Inc. Kinetics Funds Distributor is an affiliate of Kinetics Asset Management LLC, Investment Adviser to Kinetics Mutual Funds, Inc.

The Dow Jones Industrial Average (DJIA), the NASDAQ Composite (NASDAQ) and the Standard & Poor's 500 Index (S&P 500) each represent an unmanaged, broad-based basket of stocks. They are typically used as a proxy for overall market performance.



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