Kinetics Spin-Off and Corporate Restructuring Fund Advisor Class C (LSHCX)

Fund Assets	33.55M
Expense Ratio	2.25%
Min. Investment	$2,500
Turnover	4.00%
Dividend (ttm)	2.69
Dividend Yield	10.37%
Dividend Growth	111.83%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	26.04
YTD Return	27.18%
1-Year Return	22.42%
5-Year Return	88.18%
52-Week Low	20.13
52-Week High	34.48
Beta (5Y)	0.63
Holdings	37
Inception Date	May 24, 2007

About LSHCX

The Kinetics Spin-Off and Corporate Restructuring Fund Advisor Class C is an open-end mutual fund designed to capitalize on the market inefficiencies that can arise from corporate spin-offs, equity carve-outs, and other restructuring events. Managed by Horizon Kinetics Asset Management, the fund allocates at least 80% of its assets to equity securities of companies involved in these transformation processes, including spin-off entities, their parent companies, and firms influenced by activist shareholders driving restructuring efforts. Although it maintains a global perspective, it is primarily focused on U.S. equities and spans the full spectrum of market capitalizations. The fund takes a non-diversified approach, with a significant concentration in sectors such as mining, quarrying, and oil and gas extraction. By targeting companies often overlooked or temporarily mispriced by the broader investment community immediately following restructurings, the fund seeks to harness unique growth opportunities tied to corporate change events. Its investment process leverages in-depth fundamental analysis and a bottom-up stock picking methodology, aiming for long-term capital appreciation while benchmarking its performance against the S&P 500 Index.

• Fund Family: Kinetics
• Category: Miscellaneous Sector
• Performance Rating: Above Average
• Risk Rating: High
• Stock Exchange: NASDAQ
• Ticker Symbol: LSHCX
• Share Class: Advisor Class C
• Index: S&P 500 TR

Performance

LSHCX had a total return of 22.42% in the past year, including dividends. Since the fund's inception, the average annual return has been 7.49%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
LSHUX	Institutional Class	1.23%
LSHEX	No Load Class	1.47%
LSHAX	Advisor Class A	1.54%

Top 10 Holdings

97.76% of assets

Name	Symbol	Weight
Texas Pacific Land Corporation	TPL	76.93%
US BANK MMDA - USBGFS 7	USBGFS7	5.89%
LandBridge Company LLC	LB	4.92%
Associated Capital Group Inc	ACGP	3.35%
Hawaiian Electric Industries, Inc.	HE	3.06%
GAMCO Investors Inc	GAMI	1.01%
WaterBridge Infrastructure LLC	WBI	0.94%
State Street SPDR ICE Preferred Securities ETF	PSK	0.69%
Civeo Corporation	CVEO	0.59%
Grayscale Bitcoin Mini Trust ETF	BTC	0.36%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 30, 2025	$2.6887	Dec 30, 2025
Dec 30, 2024	$1.26928	Dec 30, 2024
Dec 28, 2023	$1.73222	Dec 28, 2023
Dec 29, 2022	$0.440	Dec 29, 2022
Dec 29, 2021	$0.0288	Dec 29, 2021
Dec 30, 2020	$0.00288	Dec 30, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 27, 2026

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