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About Us
Our Story
After more than 50 years combined in the stock market, Co-Portfolio Managers Tony Tagliapietra and Rob Haugen grew tired of struggling to find good public market portfolios to invest in for their large family office.
So, they created their own.
Combining their professional experience with the drive to create something better, they launched RVER, The Trenchless Fund in 2024. Over time, they identified a lack of active American infrastructure exposure in the market. In 2026, they launched BUIL, The Rebuild America ETF, aiming to address it. River1 comes from the world of building America's infrastructure. That origin informs how the team tries to identify the companies that aim to own or solve the most capacity-constrained demands of the buildout.
Today, the team runs both funds for individual investors, family offices, and institutions.
Our Approach
Why settle for the middle? With RVER and BUIL, we aim to win. Each fund starts with a broad universe and cuts everything we have identified that hasn't earned its place. What's left is small, deliberate, and held with conviction.
RVER
We start by eliminating legacy index stocks that we believe are unlikely to perform well/outperform the market due to low growth, high valuation relative to growth potential, or weak balance sheets.
Next, we comb through the remaining list for stocks we believe are outgrowing inflation and trading at a multiple on earnings1 well below where we think appropriate. Finally, we eliminate those we deem to carry earnings risk, and those whose current ownership makes them less likely to re-rate2 higher.
What's left is the RVER portfolio — the stocks we’ve identified to be the best and we think are built to outperform.
BUIL
We believe that every holding in BUIL owns or solves a capacity-constrained demand in the physical rebuilding of America's infrastructure. Those demands show up across energy infrastructure, power generation and transmission, data centers and digital infrastructure, construction and engineering, and industrial materials and equipment.
First, a quality and valuation screen on free cash flow3, growth, and margin durability4. Second, we examine how directly each company benefits from infrastructure spending, and how durable that revenue is likely to be. Third, we track how pricing power5, supply, and ownership are shifting across the value chain, so we can rotate as demands ease in one place and emerge in another.
What's left is the BUIL portfolio — the stocks we’ve identified to be the best positioned to capture America's rebuild.
OUR TEAM
Tony Tagliapietra
CEO
Tony Tagliapietra
CEO
Tony Tagliapietra is a 25-year plus veteran in the financial services industry. He started municipal bonds at Baird in 1999 and transitioned to equities in 2001. Tony spent 18 years as an institutional equity trader investing for the world’s largest Hedge Funds and Mutual Funds. In 2019 he became a CIO for a large Wisconsin family office focusing on public and private investing. Tony has a Finance and Marketing degree from University of Wisconsin-Milwaukee. He has a wife, three children and very active coaching his children’s sports over the years.
Rob Haugen
CIO
Rob Haugen
CIO
Rob Haugen is a 25-year plus veteran in the financial services industry. He started as an options market maker on the CBOE and moved into quantitative trading before spending 14 years at Baird investing for the world’s largest Hedge Funds and Mutual Funds. Rob has spent the last several years investing for one of Wisconsin’s largest family offices. He has an MBA from Northwestern’s Kellogg School of Management and a BBA from the University of Massachusetts, Amherst. He has a wife, three children, and serves on the boards of The First Tee of SE Wisconsin, Brookfield East Sports Boosters, and Ian’s Pizza by the Slice.