4 / 5 Stars
5 4 3 1 3
Zacks Investment Research
1 (Strong Buy)
Standard & Poor's
4 / 5 Stars
#14 in Mid-Cap Growth
U.S. News evaluated 223 Mid-Cap Growth Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
The fund has returned 34.54 percent over the past year, 17.37 percent over the past three years, 27.78 percent over the past five years, and 11.15 percent over the past decade.
|Trailing Returns||Updated 02.28.2014|
|Year to date||-0.1%|
|3 Years (Annualized)||17.4%|
|5 Years (Annualized)||27.8%|
|10 Years (Annualized)||11.1%|
Kinetics Internet's portfolio isn't as tech-heavy has its name would imply.
As of March 05, 2014, the fund has assets totaling almost $180.50 million invested in 54 different holdings. Its portfolio consists primarily of shares of large and mid-sized companies.
This fund invests almost exclusively in companies whose business models depend in large part on the Internet. But that doesn't mean that it only invests in the tech sector. Indeed, as of the end of the first quarter, more than 60 percent of its portfolio was invested outside of the tech sector, according to Morningstar. One popular theme in the fund's portfolio is media companies, with names like Time Warner and Viacom occupying prominent spots. As of the end of the first quarter, the fund's single largest position was in the Chinese search engine Baidu, which represented nearly 9 percent of its portfolio. That position has been particularly helpful this year. Another Chinese tech name, Sina Corporation, is also among the fund's top holdings. The fund has returned 34.54 percent over the past year and 17.37 percent over the past three years.
Relative to other funds that focus on Internet-related picks, this fund has shown it can play fairly decent defense. Management has a patient, long-term approach, as evidenced by the fund's 12 percent turnover ratio. By comparison, a fund that replenished its entire portfolio once a year would have a ratio of 100 percent. Despite some missteps in the early 2000s, the fund has put up respectable long-term numbers. The fund has returned 27.78 percent over the past five years and 11.15 percent over the past decade.
According to the fund's prospectus: "The Internet Fund is a non-diversified fund that invests all of its investable assets in the Internet Portfolio, a series of Kinetics Portfolios Trust. Under normal circumstances, the Internet Portfolio invests at least 80% of its net assets plus any borrowings for investment purposes in [securities] 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 . . ."
Role in Portfolio
Morningstar calls this fund a "specialty" holding.
A team of four managers runs the fund.
Kinetics Internet Fund has an expense ratio of 2.14 percent.
Like all stock fund, this one comes with some risks.