Kinetics Mutual Funds, Inc. The Medical Fund
MEDRX
Other OTC- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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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
- Address
- 470 Park Avenue South New York NY 10016
- IPO Date
- Jan 2, 2019
- CIK
- 0001083387
- Similar Companies
- Business
- Kinetics Mutual Funds, Inc. - The Medical Fund (MEDRX) is a non-diversified mutual fund that serves as the sole feeder fund to the Medical Portfolio, a series of Kinetics Portfolios Trust, with an investment objective of long-term growth of capital. Under normal circumstances, the Medical 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 of U.S. and foreign companies engaged in medical research, pharmaceutical and medical technology industries, and related fields, with emphasis on cancer research and drug development, including pharmaceutical development companies, surgical and medical instrument manufacturers and developers, pharmaceutical manufacturers, and biotech and medical research companies deriving at least 50% of revenues from such activities; the portfolio may also invest in exchange-traded funds and options for hedging or direct investment, up to 20% in below-investment-grade debt securities or unrated equivalents, and participate in securities lending up to 33-1/3% of its portfolio. It employs a fundamental value, bottom-up approach focused on companies with high research and development expenditures, particularly in cancer and other diseases, across all company sizes including small- and medium-cap firms, with low portfolio turnover of 1% in the most recent fiscal year. Kinetics Mutual Funds, Inc., established in 1996 as part of the Kinetics family with roots tracing to 1994 through parent Horizon Kinetics LLC, operates as a series of seven mutual funds managed by employee-owned, SEC-registered investment adviser Horizon Kinetics Asset Management LLC from headquarters at 470 Park Avenue South, New York, NY 10016, with principal executive offices also listed there and additional operations referenced in Elmsford, NY. The firm oversees approximately $1.6 billion in combined assets under management as of March 31, 2024, leveraging a long-term, contrarian investment philosophy with significant firm and employee capital invested alongside shareholders, and targets U.S.-focused all-cap investments in misunderstood or underappreciated companies while providing separate accounts and alternative products. Recent developments include the Horizon Kinetics Medical ETF (MEDX), an actively-managed exchange-traded fund launched to invest primarily in patented first-line pharmaceuticals and biologics, building on the 20+ year track record of The Medical Fund since its inception on September 30, 1999, with annualized net returns of 7.88% through March 31, 2025, and net assets of $16.4 million; this ETF employs a similar long-term perspective targeting high return-on-equity companies focused on drug development, buy-out candidates, and scientific discovery. Horizon Kinetics, the parent entity, completed a strategic merger with Scott's Liquid Gold-Inc. in August 2024, accounted for as a reverse acquisition to enhance market presence and product offerings, alongside entering a real estate acquisition agreement with Synteq Digital in December 2025 involving a 10MW data center, positioning Horizon as a shareholder in digital compute infrastructure. In December 2025, Horizon Kinetics Asset Management announced plans for substantial equity investments in Bolt Data & Energy through affiliated funds as part of a strategic partnership with Texas Pacific Land Corporation for data center advancements.