Kinetics Mutual Funds KMDNX Top Holdings

Top Equity & Fixed Income Holdings (as of March 31, 2013)



Company Name Website Links	Asset Class	Percentage of Portfolio*
OWENS-BROCKWAY GLASS CONTAINER	Fixed Income	6.0%
WEBMD HEALTH CORP	Fixed Income	5.2%
ELECTRONIC ARTS, INC	Fixed Income	4.2%
FOREST CITY ENTERPRISES, INC	Fixed Income	4.1%
CHEASAPEAKE ENERGY CORP.	Fixed Income	3.9%
ICAHN ENTERPRISES LP	Fixed Income	3.9%
DISH DBS CORP.	Fixed Income	3.6%
OPPENHEIMER HOLDINGS INC	Fixed Income	3.5%
DAVITA, INC	Fixed Income	3.3%
CALPINE CORP	Fixed Income	3.3%

Option Sector Exposure (as of March 31, 2013)



		Sector		Percentage of Portfolio**
		CONSUMER		24.4%
		ENERGY		18.5%
		FINANCIALS		17.6%
		MATERIALS		15.9%
		INDUSTRIALS		11.6%
		TECH & TELECOM		5.3%
		HEALTH CARE		2.7%
		UTILITIES		2.4%
		DIVERSIFIED		1.5%

*The information contained on this page is updated at the discretion of Kinetics Asset
Management LLC. It is only representative of the Fund's portfolio on the date specified.

**Represents notional value of option exposure. Industry information is based on data sourced from Bloomberg®.

By clicking on a holding hyperlink, the user will be routed to a website that is not maintained by or associated with Kinetics Asset Management LLC.
Position size may not be indicative of actual market position due to the
use of call and put options.

The securities and ticker symbols listed above may not represent the actual securities held in the fund.
To the extent a particular security price cannot be obtained, a representative security ticker may be listed.

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