Calls
3
Alicia Levine
Head of Investment Strategy at BNY Mellon
Win Rate
33.3%
return
-1.2%
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Ticker
Side
Mentions
First Call
Call Price
P&L
Thesis
Theme
Source
Long
Jun 03
$754.15
-1.4%
Raised year-end S&P 500 target to 8,000. Sees upside risk driven by strong earnings from AI capex beneficiaries (45 companies growing 70% on average) and healthy 15% growth in the rest of the market. Believes the market is looking through temporary inflation and geopolitical issues like the Strait of Hormuz blockade. The risk of a blow-off in tech is a market structure risk, not fundamental.
Equity Indexes
Long
Feb 18
$175.04
+2.5%
Lazar forecasts a 12% jump in CapEx for 2026, driven by a "manufacturing renaissance" and heavy truck orders. Levine notes a rotation into "dirty businesses" (making things) as capital flows to the physical world. The AI trade is broadening from digital to physical. You cannot build data centers, factories, or energy infrastructure without materials and industrial machinery. This sector benefits from the "goods producing" jobs multiplier. LONG. Cyclicals are the beneficiaries of the "No Landing" / 4% GDP growth scenario. If the Fed keeps rates higher for longer due to strong growth, financing costs for heavy industry could bite.
Lazar forecasts a 12% jump in CapEx for 2026, driven by a "manufacturing renaissance" and heavy truck orders. Levine notes a rotation into "dirty businesses" (making things) as capital flows to the physical world. The AI trade is broadening from digital to physical. You cannot build data centers, factories, or energy infrastructure without materials and industrial machinery. This sector benefits from the "goods producing" jobs multiplier. LONG. Cyclicals are the beneficiaries of the "No Landing" / 4% GDP growth scenario. If the Fed keeps rates higher for longer due to strong growth, financing costs for heavy industry could bite.
Thematic ETFs
Long
Feb 18
$53.02
-4.7%
Lazar forecasts a 12% jump in CapEx for 2026, driven by a "manufacturing renaissance" and heavy truck orders. Levine notes a rotation into "dirty businesses" (making things) as capital flows to the physical world. The AI trade is broadening from digital to physical. You cannot build data centers, factories, or energy infrastructure without materials and industrial machinery. This sector benefits from the "goods producing" jobs multiplier. LONG. Cyclicals are the beneficiaries of the "No Landing" / 4% GDP growth scenario. If the Fed keeps rates higher for longer due to strong growth, financing costs for heavy industry could bite.
Lazar forecasts a 12% jump in CapEx for 2026, driven by a "manufacturing renaissance" and heavy truck orders. Levine notes a rotation into "dirty businesses" (making things) as capital flows to the physical world. The AI trade is broadening from digital to physical. You cannot build data centers, factories, or energy infrastructure without materials and industrial machinery. This sector benefits from the "goods producing" jobs multiplier. LONG. Cyclicals are the beneficiaries of the "No Landing" / 4% GDP growth scenario. If the Fed keeps rates higher for longer due to strong growth, financing costs for heavy industry could bite.
Thematic ETFs
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Alicia Levine has 3 trade ideas tracked on Buzzberg across 3 tickers since February 2026. Most covered: SPY, XLI, XLB.
