Liquidation: Series Portfolios Trust
Form Type: N-CSR
Filing Date: 2025-03-11
Corporate Action: Liquidation
Type: Update
Accession Number: 000113322825002519
Filing Summary: The Series Portfolios Trust has reported in its N-CSR filing for the period ending December 31, 2024, that on January 8, 2025, its Board of Trustees approved a Plan of Liquidation for the Kayne Anderson Renewable Infrastructure Fund, determining it to be in the best interest of the Fund and its shareholders. The liquidation of the Fund is scheduled to occur on January 31, 2025. The report includes financial performance details for the Fund, which reflects underperformance against benchmarks due to sector-specific challenges, including high interest rates and shifting investor demand. The report highlights contributors and detractors affecting fund performance. Additionally, key fund statistics, investment holdings, and distributions are detailed.
Additional details:
Fiscal Year End: 2024-12-31
Reporting Period: 2024-12-31
Net Assets: 20163874
Number Of Holdings: 30
Portfolio Turnover: 186%
Top Contributors: Siemens Energy AG, GE Vernova Inc., NextEra Energy, Inc., Constellation Energy Corporation
Top Detectors: RWE AG, ERG S.p.A., EDP Renovaveis SA
Investment Industry: Green Utilities, Other, Renewable Power Companies, Wind & Solar Yield Companies, Renewable Energy Developers, Cash & Other Receivables
Top Issuers: First American Treasury Obligations Fund, PG&E Corporation, Xcel Energy, Inc., National Grid PLC, Public Service Enterprise Group, Inc., Iberdrola SA, Drax Group PLC, Entergy Corp., Enel SpA, Siemens Energy AG
Form Type: 497
Filing Date: 2025-01-10
Corporate Action: Liquidation
Type: New
Accession Number: 000089418925000109
Filing Summary: The Board of Trustees of Series Portfolios Trust has approved a plan of liquidation for the Kayne Anderson Renewable Infrastructure Fund. This decision, based on the recommendation of Kayne Anderson Capital Advisors, aims to serve the best interests of the Fund and its shareholders. The liquidation is set to occur around January 31, 2025, and shareholder approval is not required. Effective January 10, 2025, the Fund will be closed to new investments, transitioning its portfolio holdings to cash equivalents. Transaction costs will be borne by the Fund, while the Adviser will cover other liquidation expenses. Shareholders can redeem their shares before the Liquidation Date, but any accounts not redeemed will be automatically liquidated, with proceeds sent to shareholders less any tax withholdings. The Fund may distribute undistributed net income or capital gains prior to liquidation. Shareholders should consider tax implications of the liquidation and consult their tax advisors.
Additional details:
Plan Of Liquidation: Approved by the Board of Trustees.
Liquidation Date: On or around January 31, 2025.
Shareholder Approval Required: No
New Investments Closed: Effective January 10, 2025.
Transaction Costs Incurred: Fund will bear all transaction costs for liquidation.
Shareholders Redeem Before Liquidation: Yes, shareholders may redeem their shares before the Liquidation Date.
Automatic Redemption: Accounts not redeemed by Liquidation Date will be automatically redeemed.
Tax Implications: Proceeds may be subject to federal and state taxes if shares held in taxable accounts.
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