In this piece, we will look at the stocks Jim Cramer discussed.
In a recent appearance on CNBC’s Squawk on the Street, Jim Cramer discussed the stock market’s reversal to the downside on Friday. While the flagship S&P index closed 1.6% lower on Thursday, it rebounded to close almost a percent higher the next day. Cramer discussed the movement in terms of trying to chase the rally:
“Yeah, I got to tell you, it’s a terrible situation when you have that. . .reversal, which opens up big and people come in, they tend to be wanting to chase that rally thinking that there’s a bottom and they’ve just been eviscerated. Typically if they used any sort of margins. We have a lot of 2x, 3x, stuff going on that we don’t even talk about. People who are making leveraged bets, maybe they don’t even know that they’re making leveraged bets. And then, David, the inversion of what’s happened to Bitcoin is really incredible.”
Our Methodology
For this article, we compiled a list of 9 stocks that were discussed by Jim Cramer during the episode of Squawk on the Street aired on November 21st. We listed the stocks in the order that Cramer first mentioned them. We also provided hedge fund sentiment for each stock as of the second quarter of 2025, which was taken from Insider Monkey’s database of over 900 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
11. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holders In Q2 2025: 36
Oklo Inc. (NYSE:OKLO) is a nuclear power firm that is designing small modular reactors. Cramer frequently uses the firm as an example of how the ‘era of magical investing’ is over. The CNBC TV host believes that Oklo Inc. (NYSE:OKLO) is facing long deadlines when it comes to delivering its nuclear projects. After the firm’s recent earnings report, Cramer reminded viewers of Mad Money that a 400% gain in the shares was a great opportunity to “ring the register.” In this appearance, he reiterated the long delivery times that Oklo Inc. (NYSE:OKLO) will have to contend with and wondered how one should approach their stocks:
“Look, do you think that Oklo, do you think that these companies that are nuclear, that don’t have any nuclear, what do we do with those? I mean a nuclear plant, it takes 8 to 10 years. Even a small modular reactor is going to take 6, 7 years. David, this is not a blue chip.”
10. Strategy Inc (NASDAQ:MSTR)
Number of Hedge Fund Holders In Q2 2025: 45
With Bitcoin’s price dipping below the $90,000 mark, it’s unsurprising that Strategy Inc (NASDAQ:MSTR) has also crossed Jim Cramer’s radar. Over several recent appearances, the CNBC TV host has called the firm’s CEO, Michael Saylor, a “Houdini” and added that Saylor is one of the top players in the Bitcoin space. In this appearance, he discussed a major warning from banking giant JPMorgan with regard to Strategy Inc (NASDAQ:MSTR). As per JPMorgan, the firm could be delisted from major equity indexes, including the MSCI. Given that Strategy Inc (NASDAQ:MSTR) has relied on debt to purchase Bitcoin, Cramer also called the firm a “commodity play” instead of a stock. With JPMorgan warning that the firm could face a delisting as the January 15th deadline for the MSCI nears, he was frank in his evaluation of Strategy Inc (NASDAQ:MSTR):
“[On JPMorgan’s warning about exclusion from MSCI indices] I thought that piece was so brilliant. It’s not a stock anymore, it’s a commodity play. A leveraged commodity play. What is it doing in the MSCI?
“[If excluded from MSCI] It cannot handle all of that. That stock cannot handle the truth.”
9. MSCI Inc. (NYSE:MSCI)
Number of Hedge Fund Holders In Q2 2025: 65
MSCI Inc. (NYSE:MSCI) is one of the most well-known companies when it comes to stocks. The firm plays an integral role in investing as it licenses its indexes out to ETFs. While Cramer hadn’t discussed MSCI Inc. (NYSE:MSCI) so far in 2025, he briefly commented on the firm after a sizzling JPMorgan warning regarding the shares of Strategy Inc. Strategy, known to buy Bitcoin through debt, was at the risk of being removed from MSCI Inc. (NYSE:MSCI)’s indexes, the investment bank warned. As a result, the firm, whose shares have lost 43% year-to-date, could suffer from not being able to rely on pricey shares to fund its Bitcoin purchases. Cramer remarked that he had faith in MSCI Inc. (NYSE:MSCI) due to the firm’s due diligence in creating indexes:
“MSCI, you’re talking about, Henry Fernandes [CEO of MSCI Inc. (NYSE:MSCI)] who is one of the foremost observers of the market of our time in the market. . .they actually have what I call procedures.”
8. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders In Q2 2025: 124
As Oracle Corporation (NYSE:ORCL)’s partnership with OpenAI continues to draw media attention, the firm once again popped up on Jim Cramer’s radar. He discusses the firm in nearly every appearance, and has gone as far as to say that the concerns surrounding the firm’s AI orders are “legitimate” questions. In this appearance, the CNBC TV host discussed Oracle Corporation (NYSE:ORCL)’s relationship to OpenAI. This relationship, which he had described as “a real coup” in January, involves Oracle Corporation (NYSE:ORCL), instead of Microsoft, being a key OpenAI partner. In this appearance, Cramer commented that the firms were now contending with Google and Meta in the form of Gemini 3 and aggressive spending:
“But I will say this, there’s winners and losers and it’s happening right now. And this OpenAI-Oracle axis, that’s what you have to worry about. The axis of OpenaI and Oracle. . .I think that they, that OpenAI’s got to now play leapfrog with Google and that’s very hard because it turns out, the combination of Google-Gemini, is extraordinary. . .so I find, Oracle, AI, seems like a bit of pincer movement against them, because you know that Zuckerberg is not letting them in social, because Zuckerberg is the spending king.
“[After Carl pointed out that stock broke the 200 day moving average] That’s the Safra-less Oracle. The Safra-less Oracle. . .
“It was the bottom of the FT piece that just said, Safra Catz was unhappy with the [inaudible] balance sheet.”
7. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders In Q2 2025: 219
Jim Cramer’s opinions about Alphabet Inc. (NASDAQ:GOOGL) at the start of the year and at its close are perhaps as different as they can be. At the year’s start, the CNBC TV host had sold the shares as he was worried about the Justice Department’s actions against the firm. Yet, even though he was worried about the legal woes, Cramer has nevertheless stood by Alphabet Inc. (NASDAQ:GOOGL) when it comes to quantum computing. More recently, he has started to lavish praise on the firm’s YouTube business, and as the market dropped, he used the firm as an example of a great holdout and being a survivor:
“It was a shock, because remember, I had thought they were going to be destroyed. The Paul Weiss lawyer that I spoke to no longer with the company, but told me you don’t know what you’re talking about, we are going to win, there’s going be a reversal on everything. It was clairvoyance, it was almost like they used Paul Weiss’ defense brief.
“This YouTube is a juggernaut, and it doesn’t stop. Philip Schindler, these guys are so smart.
“See now there, there’s different, when I talked about last night, which is that wait and see what’s kind of holding, Google is great. . .these are the new anointed ones, they’re the survivors. Okay?”
6. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders In Q2 2025: 294
Microsoft Corporation (NASDAQ:MSFT) is at the center of what Jim Cramer has recently used to bifurcate AI software. He has divided AI into business-to-business and business-to-consumer and used Anthropic and Microsoft Corporation (NASDAQ:MSFT) as examples of the former. The CNBC TV host has also used the firm as an example of a company that has “embraced AI with abundance.” In this appearance, he discussed Microsoft Corporation (NASDAQ:MSFT)’s relationship to OpenAI and wondered whether the software giant could end up taking more control:
“Copilot’s doing well, Azure’s doing well. . .
“But I see, you see Microsoft going down, Microsoft has to stop going down, clearly. . .
“I wanted to talk about a second about Microsoft. It keeps going down. Now that’s because there are people who say the secret weapon of OpenAI is that Microsoft could come in there, really take control, maybe even make a few, shuffle at the top. And the next thing you know, everything that you’re worried about with Oracle, everything you’re worried about with OpenAI, is taken off the table. Microsoft does prevail and that’s your scenario to get out of this situation. Because things tend to work out in this market. I trust the market and I think that Microsoft right now has to be thinking, how do we salvage this thing? If we get it together with Copilot, we salvage it.
“There’s a business-to-consumer business that I think is peaking, and, because you cannot beat Gemini. So you have to merge with Copilot to save it.”
5. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders In Q2 2025: 105
As the conversation shifted to inflation, Walmart Inc. (NYSE:WMT) once again factored into Cramer’s discussion. One consistent theme that he has stuck with in 2025 is lower prices when it comes to the firm. The CNBC TV host has repeatedly praised Walmart Inc. (NYSE:WMT) for keeping prices lower. Cramer has also suggested that the firm, along with Costco and Amazon, could become part of a few companies that dominate the retail space. In his recent appearances, he has praised outgoing Walmart Inc. (NYSE:WMT) CEO, Doug McMillon for transforming the firm and making it “one of the best in the business.” In this appearance, he discussed the CEO and Walmart Inc. (NYSE:WMT)’s stock amidst ongoing market weakness:
“And I’m not as worried about inflation, after listening to Doug McMillon, and what they’ve done. More than any part of our government, any government, they have kept a lid on prices. Which is why that stock is not only not done, but probably goes up another 12 points.
“See now there, there’s different, when I talked about last night, which is that wait and see what’s kind of holding. . .Walmart is great, . . .these are the new anointed ones, they’re the survivors. Okay?”
4. Costco Wholesale Corporation (NASDAQ:COST)
Number of Hedge Fund Holders In Q2 2025: 91
As is generally the case, Cramer ended up discussing Costco Wholesale Corporation (NASDAQ:COST) as he mentioned Walmart. Despite the fact that the retailer’s shares have struggled recently, Cramer has continued to hold the stock for his charitable trust. In fact, he has gone as far as to comment that Costco Wholesale Corporation (NASDAQ:COST) is “one of the greatest performers of all time.” Cramer has used the recent weakness in the shares to openly advise viewers to buy the stock. He remains a firm believer due to his opinion that Costco Wholesale Corporation (NASDAQ:COST) has played a key role in keeping prices low for consumers. In this appearance, he opined that the firm is the only company capable of questioning Walmart’s dominance in the retail sector:
“But you look at their prices and you realize that no one can touch it [Walmart], other than Costco. And Costco has been unfortunately, my charitable trust owns it, not going in the right direction.”
3. The Gap, Inc. (NYSE:GAP)
Number of Hedge Fund Holders In Q2 2025: 44
Apparel retailer The Gap, Inc. (NYSE:GAP) is currently in the middle of a tough turnaround through which it is consolidating its brands and cutting down costs. Cramer has discussed the efforts several times in his morning appearances and expressed optimism about the firm’s CEO in most of these. The Gap, Inc. (NYSE:GAP) reported its fiscal third quarter earnings last week, which saw the firm’s $3.94 billion in revenue and $0.62 in earnings per share beat analyst estimates. The Gap, Inc. (NYSE:GAP)’s shares closed 8.2% higher on Friday, and Cramer attributed the after-hours jump on Thursday to the firm’s earnings report. In this appearance, he opined that the shares could go higher:
“I also think that Gap turns out to be the winner in apparel. That was extraordinary, the Richard Dickson turnaround in Gap is extraordinary. This is Banana Republic, was bad last month, it turned around, I mean last quarter. The 7% of Gap, the flagship, is amazing. But it’s the Old Navy [inaudible], that is one of the most incredible turns. And I saw the wag bears saying that Athleta was down 11, but that’s because they’re cleaning up Athleta. This is an amazing stock and it can go much higher.
“”See now there, there’s different, when I talked about last night, which is that wait and see what’s kind of holding . . .Gap Stores will be great, these are the new anointed ones, they’re the survivors. Okay?”
2. DICK’S Sporting Goods, Inc. (NYSE:DKS)
Number of Hedge Fund Holders In Q2 2025: 55
Cramer has frequently discussed DICK’S Sporting Goods, Inc. (NYSE:DKS) in the context of its acquisition of footwear and apparel retailer Foot Locker. He is very excited about the deal and lamented in July that he should have just pounded the table with buy after the deal. The reason Cramer is optimistic about DICK’S Sporting Goods, Inc. (NYSE:DKS)’s acquisition is because of Nike’s turnaround being led by CEO Elliott Hill. Cramer is quite optimistic about Hill’s profile and his efforts, and he believes a revitalized Nike could benefit the firm. In this appearance, he briefly commented on DICK’S Sporting Goods, Inc. (NYSE:DKS):
“I think DICK’S is good”
While Cramer is optimistic about DICK’S Sporting Goods, Inc. (NYSE:DKS)’s Foot Locker acquisition, the market wasn’t at the time of the deal’s announcement. The CNBC TV host described the prevailing sentiment at the time in his Mad Money appearance on May 23rd:
“Wednesday morning, well, let’s see, we got two retailers, DICK’S Sporting Goods with a stock that’s been crushed and it’s announced its plan to buy Foot Locker last week. . .It is imperative that DICK’S explains its rationale for the Foot Locker deal. Maybe the stock can get some footing, but right now, people think this deal is a game changer in a real bad way for DICK’S. I don’t know what they can say to change that, but I’ll tell you, the stock has just been eviscerated.”
1. Abercrombie & Fitch Co. (NYSE:ANF)
Number of Hedge Fund Holders In Q2 2025: 39
Abercrombie & Fitch Co. (NYSE:ANF) is an apparel, accessories, and personal care items company. Cramer has discussed the firm on multiple occasions in 2025. His comments have focused on Abercrombie & Fitch Co. (NYSE:ANF)’s earnings and the exposure to tariffs. For instance, in March, when markets were guessing about President Trump’s yet-to-be-announced tariffs, Cramer opined that retailers were in a situation where “they can’t assess the tariffs. They can’t assess the weakness,” despite delivering good earnings. Yet, during the same appearance, he called Abercrombie & Fitch Co. (NYSE:ANF) “a very, very good company. Very good company.” In October, he remarked that “people hated that last quarter,” and with the firm’s earnings due Tuesday morning, Cramer is left guessing the outcome:
“ANF is a crapshoot.”
Ahead of the firm’s March earnings report, Cramer was on the ropes for Abercrombie & Fitch Co. (NYSE:ANF) in February as well as he commented:
“They had promised a very big number and they failed to deliver and it has been paying the price ever since. This is a, I mean, I guess I could say, I’m gonna say it, Fran Horowitz is a good manager, it’s a disaster and they, I don’t know how they can turn it around, but they are gonna report on the 5th of March. Let’s hope they get it right and if they do, they may have to get it right without me because that last quarter was so bad.”
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