Northlake’s models start 2025 favoring mid cap and growth. We have held mid cap for clients using our thematic models strategy since the beginning of August. The Market Cap model recommended small cap for December. However, we decided to go against the model and stick with mid cap awaiting more confirmation since we considered the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2025-01-02 17:47:362025-01-02 17:47:36Shifting to Growth to Begin 2025
Both of Northlake’s models have been on the move over the past six months. At the start of August, the Market Cap model shifted from large cap to mid cap. At the start of May, the Style model shifted to neutral after a yearlong run of growth signals. These changes reflect continued strength in U.S. […]
Nexstar Media Group (NXST): NXST reported good 3Q24 earnings despite a shortfall in political advertising revenue. Political ended up flat with the 2020 Presidential cycle after expectations had been raised over the summer for growth. NXST offset the shortfall with improving results at the CW Network and good expense control. The shares initially rallied to […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-11-22 10:47:072024-11-22 10:47:073Q24 Earnings Updates: Part Two – NXST, SONY, HD, and WMT
IBM (IBM): IBM shares sold off following a mixed report for 3Q24. The selloff is mostly related to elevated expectations after the stock had doubled since October 2022, with over half of the gain coming since the start of 2024. Our original purchase of IBM just over five years ago was based on an investment […]
There are no changes to the recommendations from Northlake’s Market Cap and Style models following the November update. The Market Cap model favors Mid Cap for the 4th consecutive month and the Style model remains neutral on growth vs value for the sixth straight month. This type of consistency is typical as the models are […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-11-01 09:30:312024-11-01 09:30:31Another Month in Favor of Mid Cap and Neutrality on Growth vs. Value
International Business Machines (IBM): IBM reported a good quarter with nice upside on the all-important free cash flow. Guidance was also good with free cash flow again surprising positively. The stock responded very well to the earnings report, mostly because management noted another big acceleration in orders related to artificial intelligence. As a reminder, IBM […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-02-01 15:37:302024-02-01 15:37:304Q23 Earnings Updates: Part One – IBM, TMUS, and GOOG/GOOGL
There are no changes to the recommendations from Northlake’s Market Cap or Style model to start 2024. We are sticking with Mid Cap and Growth. Client positions following the models will continue to own the S&P 400 Mid Cap (MDY) and the Russell 1000 Growth (IWF) for at least another month. There is underlying movement […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-01-02 20:05:132024-01-02 20:05:13Sticking With Mid Cap and Growth While Watching Improved Breadth
Northlake’s Market Cap model flipped from Large Cap to Mid Cap for December. Client positions following the model sold holdings in the S&P 500 (SPY) and reinvested the proceeds in the S&P 400 Mid Cap (MDY). Clients using thematic strategies but not our models already have exposure to mid and small cap through core positions […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2023-12-04 18:55:202023-12-04 18:55:20Moving back to Mid Cap to End 2023
Apple (AAPL): AAPL 4Q23 earnings and 1Q24 guidance were mixed. The shares are down 1% in a very strong market following the report. 4Q23 results were in line on revenue and ahead on EPS with iPhone sales holding up and Services coming in ahead. Other hardware including Macs, iPads, and Wearables were weak. Good cost […]
Northlake’s Market Cap and Style models again favor large cap and growth for November. As a result, client portfolios that use the models will continue to own the S&P 500 (SPY) and the Russell 1000 Growth (IWF) for at least another month. Clients using thematic strategies but not Northlake’s models have exposure to large cap […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2023-11-02 19:16:422023-11-02 19:16:42Models Favor Large Cap and Growth Again, but Mid Cap Could Be Next
Shifting to Growth to Begin 2025
Northlake’s models start 2025 favoring mid cap and growth. We have held mid cap for clients using our thematic models strategy since the beginning of August. The Market Cap model recommended small cap for December. However, we decided to go against the model and stick with mid cap awaiting more confirmation since we considered the […]
Economy and Improved Breadth Drive Latest Model Signals
Both of Northlake’s models have been on the move over the past six months. At the start of August, the Market Cap model shifted from large cap to mid cap. At the start of May, the Style model shifted to neutral after a yearlong run of growth signals. These changes reflect continued strength in U.S. […]
3Q24 Earnings Updates: Part Two – NXST, SONY, HD, and WMT
Nexstar Media Group (NXST): NXST reported good 3Q24 earnings despite a shortfall in political advertising revenue. Political ended up flat with the 2020 Presidential cycle after expectations had been raised over the summer for growth. NXST offset the shortfall with improving results at the CW Network and good expense control. The shares initially rallied to […]
3Q24 Earnings Updates: Part One – IBM, TMUS, GOOG/GOOGL, META, AAPL, VICI
IBM (IBM): IBM shares sold off following a mixed report for 3Q24. The selloff is mostly related to elevated expectations after the stock had doubled since October 2022, with over half of the gain coming since the start of 2024. Our original purchase of IBM just over five years ago was based on an investment […]
Another Month in Favor of Mid Cap and Neutrality on Growth vs. Value
There are no changes to the recommendations from Northlake’s Market Cap and Style models following the November update. The Market Cap model favors Mid Cap for the 4th consecutive month and the Style model remains neutral on growth vs value for the sixth straight month. This type of consistency is typical as the models are […]
4Q23 Earnings Updates: Part One – IBM, TMUS, and GOOG/GOOGL
International Business Machines (IBM): IBM reported a good quarter with nice upside on the all-important free cash flow. Guidance was also good with free cash flow again surprising positively. The stock responded very well to the earnings report, mostly because management noted another big acceleration in orders related to artificial intelligence. As a reminder, IBM […]
Sticking With Mid Cap and Growth While Watching Improved Breadth
There are no changes to the recommendations from Northlake’s Market Cap or Style model to start 2024. We are sticking with Mid Cap and Growth. Client positions following the models will continue to own the S&P 400 Mid Cap (MDY) and the Russell 1000 Growth (IWF) for at least another month. There is underlying movement […]
Moving back to Mid Cap to End 2023
Northlake’s Market Cap model flipped from Large Cap to Mid Cap for December. Client positions following the model sold holdings in the S&P 500 (SPY) and reinvested the proceeds in the S&P 400 Mid Cap (MDY). Clients using thematic strategies but not our models already have exposure to mid and small cap through core positions […]
3Q23 Earnings Updates: Part Two – AAPL, NXST, DIS, SONY, HD, and WMT
Apple (AAPL): AAPL 4Q23 earnings and 1Q24 guidance were mixed. The shares are down 1% in a very strong market following the report. 4Q23 results were in line on revenue and ahead on EPS with iPhone sales holding up and Services coming in ahead. Other hardware including Macs, iPads, and Wearables were weak. Good cost […]
Models Favor Large Cap and Growth Again, but Mid Cap Could Be Next
Northlake’s Market Cap and Style models again favor large cap and growth for November. As a result, client portfolios that use the models will continue to own the S&P 500 (SPY) and the Russell 1000 Growth (IWF) for at least another month. Clients using thematic strategies but not Northlake’s models have exposure to large cap […]