Shareholder Report | 12 Months Ended |
Sep. 30, 2024 USD ($) Holdings |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | 360 Funds |
Entity Central Index Key | 0001319067 |
Entity Investment Company Type | N-1A |
Document Period End Date | Sep. 30, 2024 |
Timber Point Global Allocations Fund - Institutional Class Shares | |
Shareholder Report [Line Items] | |
Fund Name | Timber Point Global Allocations Fund |
Class Name | Institutional Class shares |
Trading Symbol | CGHIX |
Annual or Semi-Annual Statement [Text Block] | This annual report to shareholders |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the Global Fund’s prospectus, financial information on Form N-CSR, holdings, proxy voting information and other information at www.timberpointcapital.com (877) 244-6235 |
Additional Information Phone Number | (877) 244-6235 |
Additional Information Website | www.timberpointcapital.com |
Expenses [Text Block] | What were the Fund costs for the year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class shares $176 1.59% |
Expenses Paid, Amount | $ 176 |
Expense Ratio, Percent | 1.59% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year? The Global Fund performed well over the fiscal year ended September 30, 2024, rising 21.78%. While it modestly underperformed the blended benchmark, it significantly exceeded the target return of U.S. Treasury Bills plus 600 basis points. Due to its diversified investment approach, the Global Fund did lag the S&P 500’s 36.35% return. Throughout the past twelve months, our outlook was generally positive, as we believed that the macroeconomic backdrop, outlined above, would provide a highly favorable investment environment. What factors influenced performance during the past year? ● The largest contributor to positive returns over the fiscal year was the Global Fund’s exposure to equity market risk, particularly U.S. equities, despite a weak outlook and sentiment from many institutional investors and strategists. Broad U.S. large-cap equity exposure was implemented through several exchange-traded securities, including SPY, RSP, and SPXL. The Global Fund also held significant exposure to U.S. small- and mid-cap stocks through exchange-traded securities like IJR, IJH, and VO. While small- and mid-cap stocks underperformed large caps, they still posted strong absolute returns. ● Tactical and opportunistic investments that contributed positively included Aerospace and Defense companies, primarily through the exchange-traded fund (“ETF”) PPA. The war in Ukraine and rising hostilities in the Middle East have led to diminished armament stockpiles that need replenishing. Additionally, the Global Fund initiated a position in cryptocurrency through the ETF HODL, which benefited performance as Bitcoin steadily increased throughout the year. An investment in private credit securities through the business development company BXSL also proved highly beneficial. ● Despite maintaining a broad global viewpoint, the Global Fund held very underweight positions in non-U.S. investments, as we found the prospects for international growth and investing unattractive. Geographically, the Global Fund has been almost entirely allocated to U.S. investment opportunities. ● Positions that detracted from Global Fund returns were primarily in the biotech sector. Both ETFs and specific companies, such as VKTX and IMMX, were negative contributors over the period. ● The twelve months ended September 30, 2024, proved very beneficial for investors, as the U.S. economy continued a path of strong growth while inflationary pressures eased significantly. Over this period, the Federal Reserve shifted its monetary policy stance from restrictive to neutral and ultimately reduced the target funds rate to 5% in September. This created an exceptionally favorable macroeconomic environment for investors, spurring a strong rally across most asset classes and investment types. Additionally, alongside this positive macro backdrop, the growing recognition and adoption of artificial intelligence (AI) across businesses and consumer segments ignited another technological breakthrough, leading to increased capital spending, productivity gains, and improved corporate earnings. Many technology stocks, especially those tied to AI, benefited significantly from this secular trend. |
Performance Past Does Not Indicate Future [Text] | The performance information quoted in this annual report assumes the reinvestment of all dividend and capital gain distributions, if any, and represents past performance, which is not a guarantee of future results. |
Line Graph [Table Text Block] | Cumulative Performance of a Hypothetical $10,000 Investment as-of September 30, 2024 |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year 5 Years 10 Years Institutional Class Shares 21.78% 2.33% 2.18% S&P 500® Total Return Index (“S&P 500”) 36.35% 15.96% 13.37% Bloomberg Barclays U.S. Aggregate Bond Index 11.57% 0.33% 1.84% Bloomberg Barclays Global Aggregate Bond/MSCI ACWI Net Total Return USD 50/50 Index Blend 21.87% 6.46% 5.78% |
No Deduction of Taxes [Text Block] | The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Updated performance data current to the most recent month-end can be obtained by calling (877) 244-6235. |
Net Assets | $ 19,878,101 |
Holdings Count | Holdings | 40 |
Advisory Fees Paid, Amount | $ 46,054 |
Investment Company, Portfolio Turnover | 187% |
Additional Fund Statistics [Text Block] | What are some Fund statistics? Fund Statistics Total Net Assets $19,878,101 Investment Advisory Fees Paid $46,054 Number of Portfolio Holdings 40 Portfolio Turnover Rate 187% |
Holdings [Text Block] | What did the Fund invest in? Sector Allocation (as a % of Portfolio) Equity Funds 57.72% Consumer, Non-cyclical 1.57% Asset Allocation Fund 11.44% Commodity Fund 1.06% Debt Funds 10.85% Communications 0.97% Cash and Cash Equivalents 7.31% Consumer, Cyclical 0.62% Financials 6.29% Asset-backed and Mortgage-backed securities 0.01% Asset Allocation Fund 2.17% |
Largest Holdings [Text Block] | Top Ten Holdings (as a % of Net Assets) SPDR S&P 500 ETF Trust 12.99% iShares Core S&P Mid-Cap ETF 4.23% Timber Point Alternative Income Fund 11.43% iShares 1-3 Year Treasury Bond ETF 4.18% Federated Hermes Government Obligation Fund 7.31% Direxion Daily S&P 500 Bull 3X Shares 4.12% iShares 7-10 Year Treasury Bond ETF 5.43% iShares Core S&P Small-Cap ETF 4.12% Invesco Aerospace & Defense ETF 4.77% Vanguard U.S. Value Factor ETF 3.94% |
Material Fund Change [Text Block] | Material Fund Changes Effective October 22, 2024, the Global Fund added the Bloomberg Barclays Global Aggregate Bond/MSCI ACWI Net Total Return USD 50/50 Index Blend as a new benchmark. Timber Point Capital Management, LLC, the Global Fund’s investment adviser, believes it more representative of the Global Fund’s directional, global, multi-asset strategy approach which incorporates global equities, debt, commodities, currencies and market hedging tools in its portfolio construction. |
Accountant Change Statement [Text Block] | Change in and Disagreements with Accountants The Audit Committee of 360 Funds (the “Trust”) has approved and recommended to the Board of Trustees (the “Board”), and the Board has approved Tait, Weller & Baker, LLP (“Tait”) to replace Cohen & Company, Ltd. (“Cohen”) as the Global Fund’s independent registered public accounting firm for the Global Fund’s fiscal year ended September 30, 2024. Through the past fiscal year and through the date of Cohen’s replacement as auditor of the Global Fund, the Global Fund had no disagreements with Cohen on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if not resolved to the satisfaction of Cohen would have caused Cohen to make reference to the disagreement in a Cohen report, and there were no reportable events of the kind described in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934. With respect to the Global Fund, Cohen’s audit opinions, including for the fiscal year ended September 30, 2023, did not contain either an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the last fiscal year of the Global Fund, neither the Global Fund nor anyone on its behalf has consulted Tait on items concerning the application of accounting principles to a specified transaction (either completed or proposed) or the type of audit opinion that might be rendered on the Global Fund’s financial statements, or concerning the subject of a disagreement of the kind described in Item 304(a)(1)(iv) of Regulation S-K or reportable events of the kind described in Item 304(a)(1)(v) of Regulation S-K. The Global Fund requested Cohen to furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of such letter will be filed as an Exhibit to the Form N-CSR filing. |
Timber Point Alternative Income Fund - Institutional Class Shares | |
Shareholder Report [Line Items] | |
Fund Name | Timber Point Alternative Income Fund |
Class Name | Institutional Class shares |
Trading Symbol | AIIFX |
Annual or Semi-Annual Statement [Text Block] | This annual report to shareholders |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find the Income Fund’s prospectus, financial information on Form N-CSR, holdings, proxy voting information and other information at www.timberpointcapital.com (877) 244-6235 |
Additional Information Phone Number | (877) 244-6235 |
Additional Information Website | www.timberpointcapital.com |
Expenses [Text Block] | What were the Fund costs for the year? Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Institutional Class shares $194 1.82% |
Expenses Paid, Amount | $ 194 |
Expense Ratio, Percent | 1.82% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year? The Income Fund delivered strong absolute and relative returns over the fiscal year ended September 30, 2024, rising 13.42% compared to index returns of 11.99%. Sharply falling inflation and the shift in monetary policy expectations from restrictive to accommodative drove bond returns higher. What factors influenced performance during the past year? ● The Income Fund focused on corporate credit investments over the past year, particularly high-yield bonds across various maturities. Specifically, it held exchange-traded funds JNK and SJNK. Credit markets in general, and high-yield bonds specifically, posted strong excess returns, significantly contributing to the portfolio's performance. Additionally, the Income Fund invested in private credit through the business development company BXSL, which proved beneficial. The positive economic backdrop led us to favor credit over pure interest rate risk. ● Given our positive economic outlook, the Income Fund held a small allocation to broad U.S. equity investments, which contributed positively to performance. This included broad market exposure via exchange-traded funds (“ETFs”) such as RSP and SPXL, as well as dividend and income-oriented equities like Real Estate Investment Trusts, utilities, and other higher-yielding equity types. ● In the third quarter, the Income Fund increased its exposure to more interest rate-sensitive investments as the market began pricing in a shift in monetary policy, causing a sharp decline in interest rates. The Income Fund held exchange-traded positions such as AGG, BND, TLT, and IEF. ● The Income Fund also initiated a position in cryptocurrency through the ETF HODL, which added to performance as Bitcoin rose steadily throughout the year. ● Despite holding a diverse range of investments, the Income Fund’s overall realized volatility remained lower than that of its benchmarks. ● The twelve months ended September 30, 2024, proved very beneficial for investors, as the U.S. economy continued a path of strong growth while inflationary pressures eased significantly. Over this period, the Federal Reserve shifted its monetary policy stance from restrictive to neutral and ultimately reduced the target funds rate to 5% in September. This created an exceptionally favorable macroeconomic environment for investors, spurring a strong rally across most asset classes and investment types. Additionally, alongside this positive macro backdrop, the growing recognition and adoption of artificial intelligence (AI) across businesses and consumer segments ignited another technological breakthrough, leading to increased capital spending, productivity gains, and improved corporate earnings. Many technology stocks, especially those tied to AI, benefited significantly from this secular trend. |
Performance Past Does Not Indicate Future [Text] | The performance information quoted in this annual report assumes the reinvestment of all dividend and capital gain distributions, if any, and represents past performance, which is not a guarantee of future results. |
Line Graph [Table Text Block] | Cumulative Performance of a Hypothetical $10,000 Investment as-of September 30, 2024 Timber Point Alternative Income Fund, Institutional Class Bloomberg Barclays Global Aggregate Bond Index HFRX Absolute Return Index 09/30/2014 10,000.00 10,000.00 10,000.00 03/31/2015 10,076.52 9,706.13 10,066.65 09/30/2015 9,719.48 9,673.51 10,161.50 03/31/2016 9,702.91 10,149.49 10,125.35 09/30/2016 9,890.40 10,528.08 10,251.10 03/31/2017 9,763.96 9,956.37 10,281.79 09/30/2017 9,922.09 10,395.60 10,547.98 03/31/2018 9,993.45 10,650.60 10,592.88 09/30/2018 10,113.28 10,258.62 10,666.98 03/31/2019 10,041.64 10,610.06 10,568.45 09/30/2019 10,269.86 11,037.98 10,798.49 03/31/2020 9,418.81 11,055.28 10,331.95 09/30/2020 10,137.71 11,726.37 11,019.59 03/31/2021 10,438.02 11,571.26 11,339.52 09/30/2021 10,674.96 11,619.58 11,471.92 03/31/2022 10,392.87 10,830.38 11,516.02 09/30/2022 9,390.38 9,245.62 11,636.60 03/31/2023 9,784.03 9,956.77 11,577.80 09/30/2023 9,692.95 9,452.83 11,785.99 03/31/2024 10,527.77 10,005.70 12,163.80 09/30/2024 10,993.60 10,586.07 12,426.55 |
Average Annual Return [Table Text Block] | Average Annual Total Returns 1 Year 5 Years 10 Years Institutional Class shares 13.42% 1.37% 0.95% Bloomberg Barclay’s Global Aggregate Bond Index 11.99% (0.83)% 0.57% HFRX Absolute Return Index 5.43% 2.86% 2.20% |
No Deduction of Taxes [Text Block] | The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Updated performance data current to the most recent month-end can be obtained by calling (877) 244-6235. |
Net Assets | $ 18,829,919 |
Holdings Count | Holdings | 27 |
Advisory Fees Paid, Amount | $ 42,170 |
Investment Company, Portfolio Turnover | 122% |
Additional Fund Statistics [Text Block] | What are some Fund statistics? Fund Statistics Total Net Assets $18,829,919 Investment Advisory Fees Paid $42,170 Number of Portfolio Holdings 27 Portfolio Turnover Rate 122% |
Holdings [Text Block] | What did the Fund invest in? Sector Allocation (as a % of Portfolio) Debt Funds 79.35% Cash and Cash Equivalents 4.66% Equity Funds 8.60% Alternative Fund 1.26% Financials 6.07% Asset-backed and Mortgage-backed securities 0.06% |
Largest Holdings [Text Block] | Top Ten Holdings (as a % of Net Assets) SPDR Portfolio Aggregate Bond ETF 14.51% iShares 7-10 Year Treasury Bond ETF 4.69% SPDR Doubleline Total Return Tactical ETF 12.99% iShares 20+ Yr Treasury Bond ETF 4.69% SPDR Bloomberg Short Term High Yield Bond ETF 10.11% Federated Hermes Government Obligations Fund 4.65% SPDR Portfolio Corporate Bond ETF 9.31% iShares Core U.S. Aggregate Bond ETF 4.57% SPDR Bloomberg High Yield Bond ETF 6.65% Vanguard Total Bond Market ETF 4.55% |
Material Fund Change [Text Block] | Material Fund Changes The Fund did not have any material changes that occurred since the beginning of the reporting period. |
Accountant Change Statement [Text Block] | Change in and Disagreements with Accountants The Audit Committee of 360 Funds (the “Trust”) has approved and recommended to the Board of Trustees (the “Board”), and the Board has approved Tait, Weller & Baker, LLP (“Tait”) to replace Cohen & Company, Ltd. (“Cohen”) as the Income Fund’s independent registered public accounting firm for the Income Fund’s fiscal year ended September 30, 2024. Through the past fiscal year and through the date of Cohen’s replacement as auditor of the Income Fund, the Income Fund had no disagreements with Cohen on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if not resolved to the satisfaction of Cohen would have caused Cohen to make reference to the disagreement in a Cohen report, and there were no reportable events of the kind described in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934. With respect to the Income Fund, Cohen’s audit opinions, including for the fiscal year ended September 30, 2023, did not contain either an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the last fiscal year of the Income Fund, neither the Income Fund nor anyone on its behalf has consulted Tait on items concerning the application of accounting principles to a specified transaction (either completed or proposed) or the type of audit opinion that might be rendered on the Income Fund’s financial statements, or concerning the subject of a disagreement of the kind described in Item 304(a)(1)(iv) of Regulation S-K or reportable events of the kind described in Item 304(a)(1)(v) of Regulation S-K. The Income Fund requested Cohen to furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of such letter will be filed as an Exhibit to the Form N-CSR filing. |