Flows are rotating into FRSH while ESE weakens

🇺🇸 Equities are seeing a notable flow reversal, with inflows edging outflows for the first time in several sessions, but caution remains as the dominant theme continues to shift. The day’s snapshot shows 135 inflows against 138 outflows, with the largest exit concentrated in $ESE (ESCO Technologies Inc.), which shed $31M. Meanwhile, the standout inflow is into FRSH, attracting $79M and signaling renewed interest in that theme. This shift suggests traders are starting to rotate into more defensive or fresh growth ideas, but the overall flow pattern remains fragile. The key test will be whether FRSH sustains its momentum or if the broader outflows resume, especially as ESE and other thematic exits signal ongoing risk aversion. Next, watch whether FRSH’s inflow holds through the next few hours as a confirmation of the emerging tide.