The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The Global Fund invests all of its investable assets in the Global Portfolio, a series of Kinetics Portfolios More

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The Global Fund invests all of its investable assets in the Global Portfolio, a series of Kinetics Portfolios Trust.

Next, the research team invests significantly in common stocks; exchange traded funds, convertible securities, warrants and other equity securities having the characteristics of common stocks of foreign and U.S. companies listed on publicly traded exchanges.

As part of its fundamental analysis, the team considers a company’s potential to maintain and grow long lived assets, while generating high returns on capital with operating predictability and transparency.

Other factors in consideration include reviewing a company’s balance sheets, corporate revenues, earnings and dividends.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

At least 40% of the fund’s net assets will be invested in companies located outside the United States.

In addition, the fund has exposure to at least three countries, which may include the United States.

The fund may invest up to 20% of its net assets in convertible and non-convertible debt securities rated below investment grade, or unrated securities of comparable quality.

Also, the fund may invest up to 100% of its net assets in companies located in emerging markets.

The fund may also invest indirectly in bitcoins exclusively through a Delaware statutory trust, Grayscale Bitcoin Trust.

Additionally, the fund may participate in securities lending arrangements with brokers, dealers, and financial institutions in order to increase the return on its portfolio.