Flows are rotating into FRSH while WAFD weakens

🇺🇸 Equity flows are shifting sharply toward smaller, growth-oriented names, with a notable $33M inflow into $FRSH (Freshworks Inc.) and a $30M exit from WAFD. The move signals a clear tilt away from financials and toward consumer and tech themes, but caution is warranted as the overall flow count remains skewed by concentrated activity. The top outflows center on WAFD, MGY, and AIR, while inflows are concentrated into FRSH, PEGA, and OWL. The dominant inflow into FRSH confirms strong buyer interest, but the broadening of flows beyond the leader remains limited. Next, watch whether the FRSH move sustains and if inflows spread to other growth themes or if the market reverts to financials.