Kinetics Asset Management LLC (New York)

Name: Kinetics Asset Management LLC
Address: 470 Park Avenue South, New York, NY, 10016
Telephone: 646-291-2300

Kinetics Asset Management LLC is a large advisory firm based in New York. It manages $1.46 billion of regulatory assets for 174 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Alabama, Arkansas, California, and 16 other states.

Kinetics Asset Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Kinetics Asset Management: assets under management

The assets under management (AUM) of Kinetics Asset Management LLC is $1.46 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -62% since the beginning of its operation, and $220.22 million of the total AUM is attributable to clients outside of the United States.

The firm manages $1.46 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $8.41 million each.

Kinetics Asset Management has custody of $14.68 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 62% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 22% of the firm’s portfolio. Investments in non-exchange traded securities form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Kinetics Asset Management LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Kinetics Asset Management serves?

The firm provides services to investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Kinetics Asset Management is investment companies with 9 clients and $1.15 billion of assets under management. Among the 9 most similar advisory firms, Kinetics Asset Management has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $1.46 billion for 174 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 15% of the firm’s clients are foreign persons or businesses.

Kinetics Asset Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Kinetics Asset Management LLC

The company employs 83 people that are either part- or full-time employees. 22 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frank Costa	Shareholder	1 Dec 1997	Other	4361976
Susan Catherine Conway	Shareholder	1 Dec 1997	Other	4618161
Peter Brendan Doyle	Managing director and elected manager	1 Apr 1998	Other	2590707
Leonid Polyakov	Chief financial officer and elected manager	1 Apr 1998	Other	4189601
Bruce Paul Abel	Director & secretary	1 Apr 1998	Other	4358058
Peter Doyle	President, ceo, dir. & chief investment strategist	1 Apr 1998	Other	2590707
Kinetics Voting Trust	Trust is shareholder	1 Jun 1999	Other	13-7228542
Andrew Martin Fishman	Chief compliance officer, assistant secretary	1 Jul 1999	Other	4356294
Lawrence Patrick Doyle	Elected manager	1 Feb 2000	Other	734291
Karen & Larry Doyle Irrevocable Trust	Shareholder	1 Jan 2005	Other	38-6826254
Karen Doyle Trust	Shareholder	1 Jan 2005	Other	36-6826255
Lawrence Doyle Trust	Shareholder	1 Jan 2005	Other	38-6826253
Jay Harris Kesslen	General counsel, secretary and elected manager	1 Aug 2006	Other	4335392
Leonid Polyakov Revocable Trust	Shareholder	1 Nov 2006	Other	xxx-xx-xxxx
Horizon Kinetics Llc	Owner	1 Apr 2011	75% - 100%	45-0642972
Hugh Michael Ross	Chief operating officer	1 Apr 2011	Other	2292109
Robin Jayne Shulman	Chief compliance officer	1 Jun 2011	Other	2719030
Russell Wayne Grimaldi	Chief compliance officer, senior vice president and associate general counsel	1 Jan 2017	Other	5210776

Indirect Owners

The SEC currently registers 10 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Horizon Common Inc	Owner	1 Apr 2011	25% - 50%	45-2208247
Kinetics Common Inc	Owner	1 Apr 2011	25% - 50%	45-2208516
Steven Bregman	Elected manager	1 Apr 2011	Other	2568218
Peter Brendan Doyle	Elected manager	1 Apr 2011	Other	2590707
Lawrence Patrick Doyle	Elected manager	1 Apr 2011	Other	734291
Thomas Crimmins Ewing	Elected manager	1 Apr 2011	Other	1418930
John Douglas Kramer	Elected manager	1 Apr 2011	Other	2748043
Murray Stahl	Chairman of the board of managers and elected manager	1 Apr 2011	Other	2578129
Leonid Polyakov	Elected manager	1 Apr 2011	Other	4189601
Jay Harris Kesslen	Elected manager	1 Apr 2011	Other	4335392

Based in New York

The principal office where Kinetics Asset Management LLC performs its advisory services is located at 470 Park Avenue South, New York, NY 10016, which is also the mailing address of the firm. An additional office of the firm is in Charlotte, NC. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 646-291-2300 or by fax 646-495-0075. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at kineticsfunds.com.