Kinetics Alternative Income Fund
KWICX
Other OTC- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 470 Park Avenue South New York NY United States of America 10016
- IPO Date
- Jan 2, 2019
- CIK
- 0001083387
- Similar Companies
- Business
- Kinetics Alternative Income Fund (KWICX) is a diversified mutual fund that invests all of its investable assets in the Alternative Income Portfolio, a series of Kinetics Portfolios Trust, with a primary objective of providing current income and gains and a secondary objective of long-term capital growth. Under normal circumstances, the portfolio holds primarily fixed income securities, including cash equivalents, closed-end funds, and ETFs with no limitations on maturities or credit ratings—typically U.S. government or investment-grade large-cap issues—and implements an equity put writing option strategy on market indexes, exchange-traded funds, REITs, convertible securities, and U.S.-listed stocks to generate income from option premiums; it may also purchase options, invest up to 100% in emerging market securities via ADRs, GDRs, or IDRs, and participate in securities lending up to one-third of its portfolio. The fund emphasizes capital preservation in fixed income selections based on liquidity, duration, credit risk, and yield, while covering derivative obligations with segregated liquid assets per SEC requirements and potentially holding significant cash positions during defensive periods. The fund, launched on January 2, 2019, is headquartered in New York City and managed by Horizon Kinetics Asset Management LLC (HKAM), an employee-owned SEC-registered adviser established in 1994 as part of the Horizon Kinetics family, which oversees approximately $7.0 billion in assets as of March 2024 across mutual funds, separate accounts, and alternatives; co-portfolio managers Murray Stahl and Matthew Houk lead the investment team, supported by analysts including Peter B. Doyle, James Davolos, Steven Tuen, and Steven Bregman. It operates within the multisector bond and asset management-income segment, targeting investors seeking income diversification with tolerance for options, derivatives, interest rate, credit, and emerging markets risks, and is available to U.S. investors through financial intermediaries with a $2,500 minimum initial investment ($2,000 for Coverdell accounts). Recent developments include ongoing quarterly distributions, such as the 2025 Q4 estimated distributions announced with record and ex/pay dates in late December 2025, and HKAM's Q1 2025 revenue growth of 63.6% year-over-year driven by an adviser-only model, new fund launches like the Japan Owner Operator Fund, and ETF expansions including Blockchain Development and Inflation Beneficiaries ETFs, boosting total assets under management toward $11 billion. The firm maintained a contractual expense cap of 1.00% (after waivers) through at least April 30, 2023, with total annual operating expenses at 2.40% before reimbursements, and continues its long-term contrarian philosophy amid a portfolio turnover rate of 0% in the latest fiscal year. No major acquisitions, partnerships, or strategic shifts specific to the fund were reported in 2024-2025, reflecting stable operations within Kinetics Mutual Funds, Inc.