Kinetics Internet Advisor Fund Class C (KINCX)

Investment Objective The investment seeks long-term growth of capital; current income is a secondary objective. The fund is a non-diversified fund that invests all of its investable assets in the Internet Portfolio. The Internet Portfolio invests at least 80% of its net assets plus any borrowings for investment purposes in common stocks- convertible securities- warrants and other equity securities having the characteristics of common stocks- of U.S. and foreign companies engaged in the Internet and Internet-related activities and whose businesses are vastly improved through the distribution of content and reduction of costs with the use of the Internet. It is non-diversified.