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Annual Fund Operating Expenses - Palm Valley Capital Fund
Apr. 30, 2026
Prospectus [Line Items]  
Fee Waiver or Reimbursement over Assets, Date of Termination April 30, 2027
Palm Valley Capital Fund Investor Class  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.90%
Distribution and Service (12b-1) Fees 0.25%
Other Expenses (as a percentage of Assets): 0.37%
Acquired Fund Fees and Expenses 0.01% [1]
Expenses (as a percentage of Assets) 1.53%
Fee Waiver or Reimbursement (0.27%) [2]
Net Expenses (as a percentage of Assets) 1.26%
Palm Valley Capital Fund Institutional Class  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.90%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.37%
Acquired Fund Fees and Expenses 0.01% [1]
Expenses (as a percentage of Assets) 1.28%
Fee Waiver or Reimbursement (0.27%) [2]
Net Expenses (as a percentage of Assets) 1.01%
[1] Acquired Fund Fees and Expenses (“AFFE”) are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
[2] Palm Valley Capital Management LLC (the “Adviser”) has contractually agreed to waive its management fees, and/or reimburse Fund operating expenses, in order to ensure that Total Annual Fund Operating Expenses (excluding front-end or contingent deferred loads, Rule 12b-1 fees, shareholder servicing fees, AFFE, taxes, leverage/borrowing interest (including interest incurred in connection with bank and custody overdrafts), interest expense, dividends paid on short sales, brokerage and other transactional expenses, expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation) do not exceed 1.00% of the average daily net assets of the Fund (the “Expense Cap”). The Expense Cap will remain in effect through at least April 30, 2027 and may be terminated at any time thereafter upon 60 days’ written notice by the Trust’s Board of Trustees (the “Board”) or the Adviser, with the consent of the Board. The Adviser may request recoupment of previously waived fees and reimbursed expenses from the Fund for three years from the date they were waived or reimbursed, provided that the Fund is able to make the recoupment without exceeding the lesser of the Expense Cap: (i) in effect at the time of the waiver or reimbursement, or (ii) in effect at the time of recoupment.