Itero Capital, LLC

Itero Capital is an independent, single‑advisor investment adviser that provides discretionary portfolio management services to a small group of individual clients, typically high‑net‑worth and some non‑U.S. investors. As of December 31, 2025, the firm reported about $61.19 million in assets under management, with roughly $60.0 million managed on a non‑discretionary basis; the firm does not provide financial planning services.

The firm follows a concentrated, research‑intensive, bottom‑up fundamental investment approach focused primarily on consumer‑centric public equities worldwide and employs both long and short positions. Portfolios are built around a relatively small number of core holdings (typically 15–25), using multi‑year valuation forecasts and at times employing short sales, hedging instruments and limited leverage to pursue long‑term capital appreciation and absolute returns.

Noteworthy aspects include the firm’s willingness to accept performance‑based fees for qualified and non‑U.S. clients — an arrangement that is uncommon among similar independent firms — combined with a large proportion of its assets being managed on a non‑discretionary basis, which the brochure identifies as a potential conflict of interest. To address this, the firm says it applies a common investment strategy across accounts, allocates transactions equitably, and that the sole investment professional invests personal capital alongside client accounts.