Rapid-fire update on all 35 stocks in his Charitable Trust portfolio

Here’s a rapid-fire update on all the stocks in Jim Cramer’s Charitable Trust, the portfolio we use for the CNBC Investing Club. Jim ran through each stock Wednesday during our November Monthly Meeting. 1. Apple (AAPL): Jim continues to bestow Apple with the “own it, don’t trade it” designation, despite concerns about its business in China and uncertainty over how its mixed-reality Vision Pro headset will be received when it goes on sale next year. Jim said he expects the iPhone maker’s expansion in emerging markets like India will help offset any slowdown in China, while the strength of the company’s higher-margin services revenue stream means the Vision Pro doesn’t need to be a commercial hit right away. 2. Amazon (AMZN): Despite a 70% rally in its stock price this year to roughly $144 per share, Amazon is still well below its all-time high of $186.57 on July 8, 2021. To get back there, we need to see a meaningful reacceleration of growth in cloud computing division Amazon Web Services and further margin expansion on the retail side of its business. 3. Broadcom (AVGO): Broadcom finds itself in a win-win situation . Either the Chinese government approves its blockbuster takeover of VMWare (VMW), giving a boost to its software ambitions, or the deal doesn’t go through and Broadcom has freed up capital to repurchase a lot of stock. 4. Bausch Health (BHC): Jim acknowledged that, in hindsight, trusting Bausch’s old management team on the value-creation potential of spinning off eye-care unit Bausch + Lomb (BLCO) was a mistake. At this point, we’re keeping our 4 rating, which means we’re not committing any new funds until we get more clarity on its legal challenges, including its Xifaxan patent litigation. 5. Caterpillar (CAT): After its guidance on Oct. 31 left some investors dissappointed, Caterpillar has become a battleground stock once again, Jim said, similar to the situation earlier this year. In the first go-round, Caterpillar’s believers were proven right, as the stock rallied more than 32% between June and mid-October. Time will tell how this battle shakes out, although we maintain our view that the wave of federal infrastructure spending next year should be a boon to Caterpillar’s business. 6. Costco Wholesale (COST): Stay long Costco, Jim stressed. The retailer, which relies on a membership model, has repeatedly demonstrated an ability to produce results in any sort of operating environment. 7. Salesforce (CRM): Jim said Salesforce’s stock doesn’t trade the way it should. That’s made him frustrated and tempted to exit the longtime Club holding in favor of a different enterprise software firm, such as Adobe (ADBE) or ServiceNow (NOW). At the same time, Jim said the strength exhibited in Salesforce’s late August earnings report isn’t a one off, particularly as the company continues to roll out artificial intelligence tools. 8. Coterra Energy (CTRA): Our only remaining energy holding remains an inexpensive stock. Owning it helps us remain diversified and protects against energy shocks to the oil market. Plus, the company is entering a period of cost deflation, which should help it generate more free cash flow that can be returned to shareholders via dividends and stock buybacks. 9. Dupont De Nemours (DD): This is a cheap stock that investors should consider buying if they believe the electronics market is turning a corner, Jim said, because semiconductors is the company’s most important end market. We believe the chips market has bottomed, and that personal computer sales are poised to bounce back in 2024. We bought some shares of Dupont last week. 10. Danaher (DHR): Patience with Danaher remains justified, even as its bioprocessing unit continued to be a drag in its latest quarter. That was a big factor in its late October sell-off. However, we used that weakness to add to our position. We maintain that a rebound in initial public offerings looms, which should give some of Danaher’s biotechnology customers an influx of capital to place new orders for Danaher products and tools. 11. Walt Disney (DIS): Activist involvement at entertainment giant has mounted, with news Wednesday that ValueAct Capital has accumulated a stake. That revelation is pushing Disney’s stock higher by more than 3%. Despite the obvious disappointment that Disney has been, Jim reiterated that money can still be made in the stock. 12. Estee Lauder (EL): Jim said the only thing that’s keeping him from dumping Estee Lauder right now is the franchise value of the cosmetics giant. There was nothing good in its latest quarterly report on Nov. 1, which prompted us to move to the sidelines on the stock while we await a better understanding on how management plans to overcome its challenges, particularly in China. 13. Eaton Corp (ETN): The industrial firm is our newest holding. We took our small stake shortly after the meeting wrapped up. Here’s our full breakdown on our investment rationale . 14. Emerson Electric (EMR): We’re gradually selling the rest of this industrial position into strength because we need the capital to redeploy into other investment ideas that we feel more confident in. 15. Ford Motor (F): The Union Auto Workers is currently voting on its tentative contract deal with the automaker. Looking forward, our biggest issue with Ford is its high warranty costs. Other than that, Jim said, he sees a fairly valued company with a strong balance sheet and solid dividend yield. We’re holding onto the stock amid hope that Ford can fix its self-inflicted wounds. 16. Foot Locker (FL): We recently trimmed our stake in troubled retailer Foot Locker, after the stock made a strong upside move that we attribute to a short-covering rally. Given the challenges facing the company hadn’t really eased, we decided to use the rally to book some regrettable losses. 17. GE Healthcare Technologies (GEHC): At current prices, this stock is too cheap to worry about its former parent company General Electric (GE) offloading another chunk of stock, Jim said. And when we consider GEHC’s business fundamentals, we see plenty to like, as demonstrated in the company’s earnings report Oct. 31 . 18. Alphabet (GOOGL): Management failed to offer a detailed explanation for Google Cloud’s weaker-than-expected performance on its recent earnings call. And Jim reiterated his overall belief that Alphabet leadership appears to not fully appreciate all the potential its assets, such as YouTube, have on their side. Still, with the stock trading at roughly 20 times 2024 earnings estimates, there’s no reason to sell Alphabet here. 19. Honeywell International (HON): This is the most undervalued stock in our portfolio, Jim said. He argued that Vimal Kapur, who took over as CEO this summer, should reshuffle its diversified business lineup. Jim said he expects cash-rich Honeywell to have a strong 2024. 20. Humana (HUM): We may look to take some stock off the table should it return to the roughly $550-per-share level for the first time in roughly a year. Until then, though, we’re willing to hold on to this relatively small position given the quality of Humana’s Medicare Advantage business. 21. Linde (LIN): We’ve not bought any shares in LIN since March 2022 because we’ve been hesitant to violate our low cost basis of around $311 apiece; the stock traded around $403 per share Wednesday. Linde has proven to be one of the most consistent performers around. Since 2019, Linde is one of 14 companies in the S & P 500 that have beat the index’s return every year. 22. Eli Lilly (LLY): The Food and Drug Administration’s approval last week of Eli Lilly’s obesity drug Zepbound hasn’t been a major catalyst, given this was a widely expected decision. But we still see more upside ahead for the stock, assuming there continues to be a stream of positive developments for its weight-loss treatments and other pipeline assets, like Alzheimer’s treatment donanemab. 23. Meta Platforms (META): Jim said CEO Mark Zuckerberg will eventually need to show investors something that justifies the company’s heavy investments in its money-losing Reality Labs division, which focuses on metaverse projects. For now, though, Jim said the success of Meta’s TikTok competitor Reels has bought Zuckerberg a bit more time on that venture. Since the company went public over a decade ago, not a lot of money has been made betting against Zuckerberg, Jim said. 24. Morgan Stanley (MS): While there is no excuse for Morgan Stanley’s poor third-quarter results , shares of the the investment bank and wealth management firm are now too cheap to sell, Jim argued. Plus, at current stock prices around $79.60, the stock carries a healthy dividend yield of 4.3%. On Jan. 1, Ted Pick is set to replace James Gorman as CEO. 25. Microsoft (MSFT): The tech giant has a lot going for it, making its stock still worth buying despite a climb of more than 50% this year. Specifically, Jim said he’s confident Microsoft will reap financial rewards from its recently launched AI tool known as 365 Copilot and next year should see a lift from a pickup in personal computer sales following a protracted decline in PC shipments. Earlier Wednesday, Microsoft also announced its first data center chips designed in-house. 26. Nvidia (NVDA): The bar is high for Nvidia ahead of its earnings release set for Nov. 21 — so high, Jim said, that the stock could be vulnerable to selling pressure after the numbers hit, especially if management offers a level-headed answer about the chipmaker’s long-term dependence on the Chinese market for growth . That’s a key question for investors right now, after the U.S. government in October restricted Nvidia’s ability to sell AI chips to China-based customers. 27. Oracle (ORCL): Oracle has wisely accumulated a bunch of Nvidia’s top-end AI chips, which recently enabled the company to ink a multiyear cloud usage agreement with Microsoft because Microsoft needs more AI computing capacity than its own cloud unit Azure currently has available. 28. Palo Alto Networks (PANW): Ahead of Palo Alto’s earnings Wednesday night, Jim emphasized the need to wait for the results, rather than buying ahead of them. Bigger picture, though, Jim doubled down on his long-term belief in the cybersecurity company given the increasing importance of protecting against digital threats. 29. Procter & Gamble (PG): The stock has been up and down this year. However, the consumer products giant’s underlying business is doing well, as its latest quarterly results indicated last month. In a diversified stock portfolio, Jim said there’s always room for high-quality companies like P & G, which also has a track record of raising its dividend. 30. Starbucks (SBUX): The coffee chain answered skeptics’ questions in a big way with its quarterly results Nov. 2 , which showed impressive 8% same-store sales growth and led us to reiterate our 1 rating on the stock. Jim said the stock is poised for a further breakout. 31. Constellation Brands (STZ): Patience has worn thin on Constellation Brands’ stock, which has fallen more than 12% since the start of August. Jim said he continues to believe the Corona and Modelo parent should divest its liquor brands, while retaining only its highest-quality wines to complement its Mexican beer portfolio. 32. Stanley Black & Decker (SWK): Evidence has been mounting that the DeWalt parent’s turnaround efforts are working. And now the tool maker is well-positioned to benefit from a potential peak in interest rates, Jim said. In theory, that would spur more activity in the housing sector, benefiting Stanley Black & Decker. 33. TJX Companies (TJX): We upgraded TJX to a 1 rating Wednesday, as shares of the off-price retailer fell nearly 3% in response to its fiscal 2024 third-quarter results. The decline is likely tied to the company’s fourth-quarter-earnings guidance being a little lighter than expectations, but we’re hardly worried by that. Management may just be acting conservatively, Jim said. 34. Wells Fargo (WFC): Similar to Morgan Stanley, this bank is too cheap to offload. It also lacks near-term catalysts that would prompt us to boost our position. 35. Wynn Resorts (WYNN): After Honeywell, Jim said this casino operator is the next stock he’d like to buy — but our discipline says hold off. We just bought 75 shares at $82.39 each , on average, so we need to see the stock trade around $80 per share before purchasing more. It traded at roughly $88 per share Wednesday. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust portfolio.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. 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