Shareholder Report | 12 Months Ended |
Sep. 30, 2024 USD ($) Holdings |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | Series Portfolios Trust |
Entity Central Index Key | 0001650149 |
Entity Investment Company Type | N-1A |
Document Period End Date | Sep. 30, 2024 |
Unusual Whales Subversive Democratic Trading ETF | |
Shareholder Report [Line Items] | |
Fund Name | Unusual Whales Subversive Democratic Trading ETF |
Class Name | Unusual Whales Subversive Democratic Trading ETF |
Trading Symbol | NANC |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.subversiveetfs.com/ (800) 617-0004 |
Additional Information Phone Number | (800) 617-0004 |
Additional Information Website | https://www.subversiveetfs.com/ |
Expenses [Text Block] | What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Unusual Whales Subversive Democratic Trading ETF $ 90 0.75 |
Expenses Paid, Amount | $ 90 |
Expense Ratio, Percent | 0.75% |
Performance Past Does Not Indicate Future [Text] | The Fund's past performance is not a good indicator of how the Fund will perform in the future. |
Line Graph [Table Text Block] | Cumulative Performance (Initial Investment of $10,000) Date Unusual Whales Subversive Democratic Trading ETF S&P 50s0® Index 2/6/2023 10000 10000 2/28/2023 9642 9673 3/31/2023 10089 10028 4/30/2023 10137 10184 5/31/2023 10492 10228 6/30/2023 11118 10904 7/31/2023 11543 11255 8/31/2023 11364 11075 9/30/2023 10772 10547 10/31/2023 10590 10326 11/30/2023 11735 11269 12/31/2023 12286 11780 1/31/2024 12595 11978 2/29/2024 13356 12618 3/31/2024 13875 13024 4/30/2024 13237 12492 5/31/2024 14005 13111 6/30/2024 14628 13582 7/31/2024 14492 13747 8/31/2024 14787 14081 9/30/2024 15091 14381 |
Average Annual Return [Table Text Block] | Annual Performance Annualized Returns for the Periods Ended September 30, 2024 1 Year Since Inception ( 2/6/2023 Unusual Whales Subversive Democratic Trading ETF 40.10% 28.39% S&P 500 ® 36.35% 24.69% |
Performance Inception Date | Feb. 06, 2023 |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
Net Assets | $ 175,671,000 |
Holdings Count | Holdings | 166 |
Advisory Fees Paid, Amount | $ 538,104 |
Investment Company, Portfolio Turnover | 62% |
Additional Fund Statistics [Text Block] | Key Fund Statistics (as of September 30, 2024 ) Fund Size (Thousands) $175,671 Number of Holdings 166 Total Advisory Fee Paid $538,104 Annual Portfolio Turnover 62% |
Holdings [Text Block] | What did the Fund invest in? (as of September 30, 2024 ) Sector Breakdown (% of total net assets) Sector % Common Stocks 0.998 Short-Term Investment & Other Assets and Liabilities, Net 0.002 Percentages are based on total net assets. |
Largest Holdings [Text Block] | Top Ten Holdings (% of net assets) NVIDIA Corp. 11.6 Microsoft Corp. 8.3 Amazon.com Inc. 4.6 Apple Inc. 4.3 Alphabet Inc. - Class C 4.2 Salesforce Inc. 4.2 American Express Co. 3.0 Costco Wholesale Corp. 2.9 Philip Morris International, Inc. 2.7 Eli Lilly & Co. 2.7 |
Material Fund Change [Text Block] | How did the Fund perform last year and what affected its performance? The Fund returned 40.10% for the fiscal year ended September 30, 2024, compared to 36.35% for the S&P 500 ® What Factors Influenced Performance? Great exposure to Information Technology, Consumer Discretionary and Communications sectors relative to the benchmark weighting contributed positively to the performance, but also a significant underweighting to healthcare and financial avoided headwinds and allowed for the Fund to have a greater allocation to the sectors with greatest price momentum. Expectations of lower interest rates led to significant outperformance by large cap technological stocks in the Fund; specifically, Nvidia. Positioning Top Contributors: Overweight in Information Technology, Consumer Discretionary and Communications Top Detractors: Overweighted in materials The Fund, which is active, adopted a process which in August to increase the concentration of the Fund. As a result, the Fund eliminated 582 very small positions and re-allocated the proceeds towards stocks which appeared to show a pattern of net investment by Members of Congress. This focused the Fund on about 170 holdings at Quarter End. |
Material Fund Change Adviser [Text Block] | How has the Fund changed? As previously disclosed, Subversive Capital Advisor, LLC (“Subversive”) served as the investment adviser to the Funds, and Tidal Investments, LLC (“Tidal”) served as the sub-adviser to the Funds. At a meeting of the Board of Trustees (“Board”) of Series Portfolios Trust (the “Trust”) held on July 24-25, 2024, the Board considered a strategic plan presented by Subversive and Tidal that will allow a transition to a new management structure for the Funds. Pursuant to the strategic plan, it is the intent of Subversive and Tidal to recommend to the Board a proposal to transition the Funds from the Trust to Tidal’s family of funds exclusively containing exchange-traded funds (“ETFs”) managed by Tidal (the “Transition”). The Transition would result in Subversive no longer serving as the investment adviser to the Funds, and Tidal, the current sub-adviser to the Funds, serving as the investment adviser to the Funds. In preparation for the Transition, the Board, upon the recommendation of Subversive and Tidal, approved the termination of Subversive’s current investment advisory agreement (the “Current Advisory Agreement”) and Tidal’s current sub-advisory agreement, and appointed Tidal as the Funds’ investment adviser pursuant to an interim investment advisory agreement (the “Interim Advisory Agreement”) between the Trust, on behalf of the Funds, and Tidal. These changes will be effective as of August 2, 2024, and the Interim Advisory Agreement will remain in effect until the earlier of 150 days from its effective date or the date that the Transition is completed. The terms and conditions of the Interim Advisory Agreement are substantially similar to those of the Current Advisory Agreement, except for the term and effective date and the replacement of Tidal as a party to the agreement in place of Subversive. There is no change to each Fund’s contractual unitary management fee. Tidal, a Tidal Financial Group company, is a registered investment adviser that was founded in 2012 and is dedicated to understanding, researching and managing assets within the expanding ETF universe. As of June 30, 2024, Tidal had assets under management of approximately $17.16 billion and served as the investment adviser or sub-adviser for 194 registered funds. Under the Interim Advisory Agreement, the new portfolio managers for the Funds will be Michael Venuto and Daniel Weiskopf. Mr. Venuto is a co-founder and has been the Chief Investment Officer of Tidal since 2012. Mr. Weiskopf serves as Portfolio Manager at Tidal, having joined the firm in 2018. There will be no change to each Fund’s investment thesis, which is to track the trading activity of the Democratic or Republican U.S. Congresspeople while in office. The Interim Advisory Agreement is not expected to result in any material change to each Fund’s investment objective or principal investment strategies. However, in implementing each Fund’s principal investment strategies, Tidal intends for each Fund, under normal circumstances, to invest in a portfolio of between 100 to 200 holdings instead of the currently disclosed range of between 500 and 600 holdings. In connection with the strategic plan presented to the Board, Tidal intends to enter into a fund sponsorship agreement with Subversive pursuant to which Subversive will be a sponsor to the Funds. Under this arrangement, Subversive will agree to provide financial support to the Funds. In return, Tidal will agree to pay Subversive a portion of any remaining profits generated by the unitary management fee for each Fund. Subversive will not be an investment adviser to the Funds.At a meeting held on August 23, 2024, based upon the recommendation of Tidal Investments, LLC (“Tidal”), the Funds’ current investment adviser, the Board of Trustees of Series Portfolios Trust (the “Trust”) approved an Agreement and Plan of Reorganization (the “Plan of Reorganization”) providing for the reorganization (each, a “Reorganization” and together, the “Reorganizations”) of each Fund, each a series of the Trust, into a separate and newly created shell series of Tidal ETF Trust (the “Acquiring Trust”) of the same name (each, an “Acquiring Fund” and together, the “Acquiring Funds”). Following the Reorganization, if the Plan of Reorganization is approved by shareholders of the Funds, the Acquiring Funds will be managed by Tidal, the Funds’ current investment adviser, and the same portfolio managers at Tidal that currently manage the Funds will continue to be responsible for the day-to-day management of each Acquiring Fund’s portfolio. The Acquiring Funds will have the same investment objectives and substantially similar investment strategies, policies, and risks as those of the Funds. |
Accountant Change Disagreements [Text Block] | Changes in and Disagreements with Accountants There were no changes in or disagreements with accountants. |
Unusual Whales Subversive Republican Trading ETF | |
Shareholder Report [Line Items] | |
Fund Name | Unusual Whales Subversive Republican Trading ETF |
Class Name | Unusual Whales Subversive Republican Trading ETF |
Trading Symbol | KRUZ |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.subversiveetfs.com/ (800) 617-0004 |
Additional Information Phone Number | (800) 617-0004 |
Additional Information Website | https://www.subversiveetfs.com/ |
Expenses [Text Block] | What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Unusual Whales Subversive Republican Trading ETF $ 86 0.75 |
Expenses Paid, Amount | $ 86 |
Expense Ratio, Percent | 0.75% |
Performance Past Does Not Indicate Future [Text] | The Fund's past performance is not a good indicator of how the Fund will perform in the future. |
Line Graph [Table Text Block] | Cumulative Performance (Initial Investment of $10,000) Date Unusual Whales Subversive Republican Trading ETF S&P 500® Index 2/6/2023 10000 10000 2/28/2023 9766 9673 3/31/2023 9723 10028 4/30/2023 9754 10184 5/31/2023 9523 10228 6/30/2023 10161 10904 7/31/2023 10527 11255 8/31/2023 10260 11075 9/30/2023 9870 10547 10/31/2023 9674 10326 11/30/2023 10470 11269 12/31/2023 11130 11780 1/31/2024 11171 11978 2/29/2024 11704 12618 3/31/2024 12189 13024 4/30/2024 11592 12492 5/31/2024 12055 13111 6/30/2024 12118 13582 7/31/2024 12414 13747 8/31/2024 12573 14081 9/30/2024 12672 14381 |
Average Annual Return [Table Text Block] | Annual Performance Annualized Returns for the Periods Ended September 30, 2024 1 Year Since Inception ( 2/6/2023 Unusual Whales Subversive Republican Trading ETF 28.39% 15.47% S&P 500 ® 36.35% 24.69% |
Performance Inception Date | Feb. 06, 2023 |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
Net Assets | $ 33,716,000 |
Holdings Count | Holdings | 168 |
Advisory Fees Paid, Amount | $ 120,004 |
Investment Company, Portfolio Turnover | 54% |
Additional Fund Statistics [Text Block] | Key Fund Statistics (as of September 30, 2024 ) Fund Size (Thousands) $33,716 Number of Holdings 168 Total Advisory Fee Paid $120,004 Annual Portfolio Turnover 54% |
Holdings [Text Block] | What did the Fund invest in? (as of September 30, 2024 ) Sector Breakdown (% of total net assets) Sector % Common Stocks 0.972 Real Estate Investment Trusts 0.026 Closed End Funds 0.001 Short-Term Investment & Other Assets and Liabilities, Net 0.001 Percentages are based on total net assets. |
Largest Holdings [Text Block] | Top Ten Holdings (% of net assets) JPMorgan Chase & Co. 3.8 NVIDIA Corp. 3.1 Comfort Systems USA, Inc. 3.1 Simon Property Group Inc. 2.4 Accenture PLC 2.4 Fidelity National Information Services, Inc. 2.4 AT&T, Inc. 2.3 Dow, Inc. 2.3 Allstate Corp. 2.2 Chevron Corp. 2.2 |
Material Fund Change [Text Block] | How did the Fund perform last year and what affected its performance? The Fund returned 28.39% for the fiscal year ended September 30, 2024 compared to 36.35% for the S&P 500 ® The Fund was weighted towards value stocks with an overweighted allocation towards the industrials and energy sectors.. The Fund was 91% weighted towards large cap stocks. The value tilt and heavy exposure to these two sectors led to underperformance and an underweighted position in large cap growth and technology stocks. What Factors Influenced Performance? Given the underperformance by stocks in the industrials and energy sectors the Fund was under allocated to the Mega-Cap technology stocks that drove the S&P 500 ® Expectations of lower interest rates led to significant outperformance by large cap technological stocks in the Fund; specifically NVIDIA. Positioning Top Contributors: Overweight in Information Technology, Consumer Discretionary and Communications Top Detractors: Overweighted in materials The Fund, which is active, adopted a process which in August to increase the concentration of the Fund. As a result, the Fund eliminated 582 very small positions and re-allocated the proceeds towards stocks which appeared to show a pattern of net investment by Members of Congress. |
Material Fund Change Adviser [Text Block] | How has the Fund changed? As previously disclosed, Subversive Capital Advisor, LLC (“Subversive”) served as the investment adviser to the Funds, and Tidal Investments, LLC (“Tidal”) served as the sub-adviser to the Funds. At a meeting of the Board of Trustees (“Board”) of Series Portfolios Trust (the “Trust”) held on July 24-25, 2024, the Board considered a strategic plan presented by Subversive and Tidal that will allow a transition to a new management structure for the Funds. Pursuant to the strategic plan, it is the intent of Subversive and Tidal to recommend to the Board a proposal to transition the Funds from the Trust to Tidal’s family of funds exclusively containing exchange-traded funds (“ETFs”) managed by Tidal (the “Transition”). The Transition would result in Subversive no longer serving as the investment adviser to the Funds, and Tidal, the current sub-adviser to the Funds, serving as the investment adviser to the Funds. In preparation for the Transition, the Board, upon the recommendation of Subversive and Tidal, approved the termination of Subversive’s current investment advisory agreement (the “Current Advisory Agreement”) and Tidal’s current sub-advisory agreement, and appointed Tidal as the Funds’ investment adviser pursuant to an interim investment advisory agreement (the “Interim Advisory Agreement”) between the Trust, on behalf of the Funds, and Tidal. These changes will be effective as of August 2, 2024, and the Interim Advisory Agreement will remain in effect until the earlier of 150 days from its effective date or the date that the Transition is completed. The terms and conditions of the Interim Advisory Agreement are substantially similar to those of the Current Advisory Agreement, except for the term and effective date and the replacement of Tidal as a party to the agreement in place of Subversive. There is no change to each Fund’s contractual unitary management fee. Tidal, a Tidal Financial Group company, is a registered investment adviser that was founded in 2012 and is dedicated to understanding, researching and managing assets within the expanding ETF universe. As of June 30, 2024, Tidal had assets under management of approximately $17.16 billion and served as the investment adviser or sub-adviser for 194 registered funds. Under the Interim Advisory Agreement, the new portfolio managers for the Funds will be Michael Venuto and Daniel Weiskopf. Mr. Venuto is a co-founder and has been the Chief Investment Officer of Tidal since 2012. Mr. Weiskopf serves as Portfolio Manager at Tidal, having joined the firm in 2018. There will be no change to each Fund’s investment thesis, which is to track the trading activity of the Democratic or Republican U.S. Congresspeople while in office. The Interim Advisory Agreement is not expected to result in any material change to each Fund’s investment objective or principal investment strategies. However, in implementing each Fund’s principal investment strategies, Tidal intends for each Fund, under normal circumstances, to invest in a portfolio of between 100 to 200 holdings instead of the currently disclosed range of between 500 and 600 holdings. In connection with the strategic plan presented to the Board, Tidal intends to enter into a fund sponsorship agreement with Subversive pursuant to which Subversive will be a sponsor to the Funds. Under this arrangement, Subversive will agree to provide financial support to the Funds. In return, Tidal will agree to pay Subversive a portion of any remaining profits generated by the unitary management fee for each Fund. Subversive will not be an investment adviser to the Funds.At a meeting held on August 23, 2024, based upon the recommendation of Tidal Investments, LLC (“Tidal”), the Funds’ current investment adviser, the Board of Trustees of Series Portfolios Trust (the “Trust”) approved an Agreement and Plan of Reorganization (the “Plan of Reorganization”) providing for the reorganization (each, a “Reorganization” and together, the “Reorganizations”) of each Fund, each a series of the Trust, into a separate and newly created shell series of Tidal ETF Trust (the “Acquiring Trust”) of the same name (each, an “Acquiring Fund” and together, the “Acquiring Funds”). Following the Reorganization, if the Plan of Reorganization is approved by shareholders of the Funds, the Acquiring Funds will be managed by Tidal, the Funds’ current investment adviser, and the same portfolio managers at Tidal that currently manage the Funds will continue to be responsible for the day-to-day management of each Acquiring Fund’s portfolio. The Acquiring Funds will have the same investment objectives and substantially similar investment strategies, policies, and risks as those of the Funds. |
Accountant Change Disagreements [Text Block] | Changes in and Disagreements with Accountants There were no changes in or disagreements with accountants. |