LSHEX Fees and Costs — Kinetics Spin-Off and Corporate Restructuring Fund, No Load Class
Data updated: 2026-08-19
The net expense ratio is 1.45%: a 1.00% management fee plus 0.68% other expenses, less a 0.23% fee waiver. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $1K in broker commissions, 0.0037% of average net assets, and portfolio turnover was 4%.
LSHEX Fees and Expenses
Annual operating expenses and sales charges of LSHEX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.68% |
| Gross expense ratio | 1.68% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.45% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
LSHEX Costs Over Time
On $10,000 invested in LSHEX, assuming 5% a year before costs, total costs come to $901 over 5 years, cutting the return by 1.53% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.45%) | $152 | $473 | $816 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $24 | $83 |
| Total costs | $153 | $498 | $901 |
| Value after costs | $10,347 | $11,079 | $11,862 |
| Impact on return, per year | 1.53% | 1.53% | 1.53% |
LSHEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0037%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $336K
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
LSHEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU ITG LLC | $780 | 60.85% |
| WEEDEN & CO.L.P. | $381 | 29.74% |
| FBN SECURITIES INC. | $49 | 3.84% |
| MADISON WILLIAMS AND COMPANY | $47 | 3.69% |
| FIDELITY BROKERAGE SERVICES LLC | $24 | 1.87% |
LSHEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ACADEMY SECURITIES INC. | $282K | 84.03% |
| WEEDEN & CO.L.P. | $54K | 15.97% |
Kinetics Spin-Off and Corporate Restructuring Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LSHUX | Institutional Class | 1.25% | none |
| LSHEX | No Load Class | 1.45% | none |
| LSHAX | Advisor Class A | 1.50% | 5.75% |
| LSHCX | Advisor Class C | 2.25% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.