KMDCX: Kinetics Multi-Disciplinary Inc Adv C

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KMDCX Kinetics Multi-Disciplinary Inc Adv C

  • Fund
  • KMDCX
  • Price as of: Dec 04, 2019
  • $10.81
    + $0.01 + 0.09%

Profile

KMDCX - Profile

Vitals

  • YTD Return 5.1%
  • 3 Yr Annualized Return 0.0%
  • 5 Yr Annualized Return -0.2%
  • Net Assets $35.7 M
  • Holdings in Top 10 64.0%

52 WEEK LOW AND HIGH

$10.81
$10.29
$10.88

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.72%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 2.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

  • Standard (Taxable) $2,500
  • IRA $2,500

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multisector Bond

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return 2.6%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.31%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Kinetics Multi-Disciplinary Income Fund
  • Fund Family Name
    Kinetics
  • Inception Date
    Feb 11, 2008
  • Shares Outstanding
    696300
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Murray Stahl

Fund Description

The fund is a diversified fund that invests all of its investable assets in the Multi-Disciplinary Income Portfolio, a series of Kinetics Portfolios Trust. The portfolio utilizes a two-part investment strategy, which includes fixed-income components, including fixed-income exchange-traded funds ("ETFs"), and derivatives components. Under normal circumstances, it will invest at least 65% of its net assets in fixed-income securities, derivatives and cash or cash equivalents committed as collateral for written option contracts.


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Categories

Performance

KMDCX - Performance

Return Ranking - Trailing

Period KMDCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -25.8% 14.8% 62.32%
1 Yr 2.8% -32.7% 13.8% 73.98%
3 Yr 0.0%* -32.1% 10.3% 77.93%
5 Yr -0.2%* -32.3% 9.3% 45.60%
10 Yr 1.0%* -3.6% 8.6% 31.54%

* Annualized

Return Ranking - Calendar

Period KMDCX Return Category Return Low Category Return High Rank in Category (%)
2018 -5.2% -48.0% 0.8% 36.05%
2017 0.6% -14.8% 11.2% 86.73%
2016 6.0% -11.2% 19.1% 12.14%
2015 -4.4% -51.1% -0.7% 23.46%
2014 -2.3% -29.8% 5.0% 68.97%

Total Return Ranking - Trailing

Period KMDCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -25.8% 14.8% 64.35%
1 Yr 3.7% -32.7% 13.8% 69.88%
3 Yr 2.6%* -32.1% 10.3% 36.45%
5 Yr 2.5%* -32.3% 9.3% 24.40%
10 Yr 4.6%* -3.6% 8.6% 20.00%

* Annualized

Total Return Ranking - Calendar

Period KMDCX Return Category Return Low Category Return High Rank in Category (%)
2018 -1.8% -48.0% 4.8% 17.55%
2017 4.0% -14.8% 14.0% 43.54%
2016 9.5% -11.2% 22.5% 6.07%
2015 -2.8% -51.1% 3.8% 25.10%
2014 1.6% -29.8% 11.7% 32.02%

NAV & Total Return History


Holdings

KMDCX - Holdings

Concentration Analysis

KMDCX Category Low Category High KMDCX % Rank
Net Assets 35.7 M 6.3 M 131 B 89.94%
Number of Holdings 40 5 7646 89.97%
Net Assets in Top 10 23.2 M -44.5 B 5.96 B 66.76%
Weighting of Top 10 63.98% 5.1% 410.5% 14.33%

Top 10 Holdings

  1. Penske Automotive Group, Inc. 5.75% 9.96%
  2. Brookfield Residential Properties Inc. 6.5% 8.99%
  3. Ashland Inc. 4.75% 8.68%
  4. Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation 5.88% 8.39%
  5. PIMCO Dynamic Income 5.75%
  6. Lennar Corporation 4.75% 5.68%
  7. Stolt-Nielsen Ltd 6.38% 5.47%
  8. Howard Hughes Corp 5.38% 4.73%
  9. Murphy Oil Corporation 4.2% 3.38%
  10. Sirius XM Holdings Inc 4.63% 2.94%

Asset Allocation

Weighting Return Low Return High KMDCX % Rank
Bonds
98.15% 31.88% 162.30% 16.05%
Convertible Bonds
2.05% 0.00% 11.31% 26.93%
Stocks
0.26% -25.45% 21.97% 39.83%
Other
0.04% -55.89% 27.77% 34.38%
Preferred Stocks
0.03% 0.00% 64.36% 58.74%
Cash
-0.53% -69.18% 62.04% 86.82%

Stock Sector Breakdown

Weighting Return Low Return High KMDCX % Rank
Financial Services
0.08% -0.20% 7.13% 29.08%
Consumer Cyclical
0.08% -0.15% 4.97% 32.68%
Real Estate
0.05% -0.04% 4.73% 19.28%
Utilities
0.00% -0.04% 6.38% 33.33%
Technology
0.00% -0.31% 4.99% 23.86%
Industrials
0.00% -0.13% 6.08% 30.07%
Healthcare
0.00% -0.18% 5.08% 30.39%
Energy
0.00% 0.00% 5.81% 48.69%
Communication Services
0.00% -0.04% 4.20% 23.53%
Consumer Defense
0.00% -0.10% 4.40% 19.28%
Basic Materials
0.00% 0.00% 3.33% 27.45%

Stock Geographic Breakdown

Weighting Return Low Return High KMDCX % Rank
US
0.17% -25.45% 21.01% 42.41%
Non US
0.09% 0.00% 5.79% 19.20%

Bond Sector Breakdown

Weighting Return Low Return High KMDCX % Rank
Corporate
90.36% 0.00% 97.25% 1.72%
Securitized
8.05% 0.00% 111.40% 74.79%
Government
1.17% -47.30% 99.34% 79.66%
Municipal
0.47% 0.00% 38.88% 26.93%
Derivative
0.17% -4.82% 47.28% 20.92%
Cash & Equivalents
-0.52% -68.94% 62.04% 86.82%

Bond Geographic Breakdown

Weighting Return Low Return High KMDCX % Rank
US
76.87% 11.04% 140.38% 32.38%
Non US
21.28% -13.53% 77.28% 42.98%

Expenses

KMDCX - Expenses

Operational Fees

KMDCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.72% 0.00% 76.93% 8.85%
Management Fee 1.25% 0.00% 2.25% 90.53%
12b-1 Fee 1.00% 0.00% 1.00% 77.88%
Administrative Fee 0.04% 0.00% 0.50% 3.80%

Sales Fees

KMDCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load 1.00% 1.00% 5.50% 13.33%

Trading Fees

KMDCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.00% 2.00% 3.70%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

KMDCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 2.00% 2.00% 899.00% 0.29%

Distributions

KMDCX - Distributions

Dividend Yield Analysis

KMDCX Category Low Category High KMDCX % Rank
Dividend Yield 1.76% 0.00% 6.88% 36.77%

Dividend Distribution Analysis

KMDCX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Net Income Ratio Analysis

KMDCX Category Low Category High KMDCX % Rank
Net Income Ratio 3.31% 0.87% 10.10% 71.98%

Capital Gain Distribution Analysis

KMDCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

KMDCX - Fund Manager Analysis

Managers

Murray Stahl


Start Date

Tenure

Tenure Rank

Feb 11, 2008

11.73

11.7%

Mr. Stahl is a Portfolio Manager at Horizon and is Chief Executive Officer, Chairman of the Board and is a co-founder of Horizon Kinetics. Mr. Stahl serves as the Firm's Chief Investment Officer, and chairs the Firm's Investment Committee, which is responsible for portfolio management decisions across the entire firm. Previously, Murray spent 16 years at Bankers Trust Company (1978-1994) as a senior portfolio manager and research analyst. He was also a member of the Equity Strategy Group and the Investment Strategy Group, which established asset allocation guidelines for the Private Bank. Murray received a BA and MA from Brooklyn College and an MBA from Pace University.

Matthew Houk


Start Date

Tenure

Tenure Rank

Dec 31, 2015

3.84

3.8%

Matt joined Horizon Asset Management LLC in 2008 and has responsibilities in both Research and Portfolio Management. Matt is a member of the Investment Committee and has responsibilities in the identification, analysis and monitoring of certain investment opportunities for the firm. Previously, from 2005 through 2008, Matt was an Associate with Goldman, Sachs & Co. Matt received a BA in Economics and Political Science from Yale University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.0 28.48 5.26 2.58