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We apply segmented assimilation theory from sociology of immigration to the study of racial achievement gaps within charter schools. Enrollment in charter schools is viewed as an immigration dynamic (akin to international immigration), from the public to the charter school sector, with varying consequences for “immigrants” depending on multiple factors. Drawing on rich, longitudinal data from Missouri (2016-2022), we find that Missouri charter schools fail to reduce racial achievement gaps. White and higher SES students and those from more stable communities outperform non-white, lower SES peers, in math and reading. Charter schools fail to narrow achievement gaps within cohorts over time from 3rd to 8th grade even when compared to statistically matched non-charter schools with similar school and student characteristics.