In this piece, we will look at the stocks Jim Cramer recently discussed.

In his recent appearance on CNBC’s Squawk on the Street, Jim Cramer commented on a report in the Wall Street Journal suggesting that the Trump administration’s Department of Justice was aiming to take on one of the largest healthcare insurers in America. While the firm’s shares dropped by 11% on the news, Cramer remained skeptical.

He started out by commenting that “the government has historically not been able to take on this group. They haven’t really taken on the middle-man either. Look I mean we have strong corporations in our country.” Cramer believes that instead of suing the firm, a better approach would be legislation.

“You’re gonna need legislation,” he outlined. “I don’t think you’re going to be able to do anything with the Justice Department,” believes Cramer. He added that “when you have these lawsuits it tends not to bring about any sort of practice. Look, I’m not being cynical. I know that there are people that just say how can you not, how can you not think that this is gonna break up everything?”

While President Trump’s bellicose approach with his administration has turned heads, Cramer shared that little will change at the Justice Department. According to him: “I think that this DOJ is like other DOJs, they’re just not powerful enough to take these companies on. They lose.”

As an example, Cramer pointed to the government’s lawsuits against opioid companies. He shared that while the companies “ended up having to pay,” they were able to continue operating as “nobody got shut down, nobody went to jail, nobody, again this is civil.” Subsequently, Cramer wondered whether “there are certain, companies in the healthcare industry that continue to win, and win, and win. And the initial reaction tends to be an overreaction.”

When told about Bill Ackman’s comments about avoiding the healthcare benefits stock stock and that it was a mental short, he commented:

“Well, again, legislation can do something. This idea of, of creating policy through the Justice Department has not worked. The Justice Department has [inaudible] not been able to create changes. But Congress can. And that’s what has to happen. Look, do I agree with Ackman? I think, I favor universal healthcare [laughs] so I’m way off the reservation. But I do think that if Congress gets involved, as it did under, with Obamacare, they had a shot. Right at the end it was, it was destroyed by the Republican Party. But that’s, that’s what happens.”

Cramer added: “The Justice Department doesn’t do it. . . .Look at what happened to Microsoft, every time the Justice Department really gears up, doesn’t work. Doesn’t change things.”

Our Methodology

To make our list of the stocks that Jim Cramer talked about, we listed down all the stocks he mentioned during CNBC’s Squawk on the Street aired on February 21st.

For these stocks, we also mentioned the number of hedge fund investors. 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

12. Banco Santander, S.A. (NYSE:SAN)

Number of Hedge Fund Holders In Q4 2024: 17

Banco Santander, S.A. (NYSE:SAN) is a Spanish mega bank with a presence in the retail, corporate, investment, and other markets. The stock is up by a strong 47% over the past year, on the back of a stunning 22% gain in February alone. Banco Santander, S.A. (NYSE:SAN)’s shares surged in February after the bank reported an all-time-high €3.27 billion profit in its fourth quarter and a €12.57 billion profit for the full year to mark 11% and 14% growths, respectively. Banco Santander, S.A. (NYSE:SAN) reported the results on February 5th, and perhaps tellingly, Cramer had advised his viewers to buy the stock in late January. Here are his latest comments:

“Well, I find, you could argue, favorite bank to me, Banco Santander, I mean we’ve got a, we have a lot of foreign stocks that are doing quite well. And I think that the President, if he heard this discussion, I think he’d say no, look, our averages are still hitting highs. But there is, it’s a better view overseas right now.”

11. Celsius Holdings, Inc. (NASDAQ:CELH)

Number of Hedge Fund Holders In Q4 2024: 33

Celsius Holdings, Inc. (NASDAQ:CELH) is an American energy drink company based in Florida. Over the past year, the shares are down by a whopping 49% as the firm suffers from weak consumer spending. Celsius Holdings, Inc. (NASDAQ:CELH) has suffered from Pepsi cutting back orders for the firm’s products, with multiple analyst downgrades also playing a role. However, in a surprising turn, the stock jumped by 27% in February after Celsius Holdings, Inc. (NASDAQ:CELH)’s fourth-quarter revenue and earnings of $332 million and EPS of $0.14 beat analyst estimates of $326 million and $0.11, respectively. Here’s what Cramer said the day the stock was rising:

“But my surprise booking is Jonathan Fieldly on Monday. And he is Celsius. Which is up gigantically. Because they’ve made a fantastic acquisition. I like Jon very much, the group has been under pressure but he’s been a great long-term performer and I do think that this is going to be back! A storied stock! It would be Palantir.”

“Yes, the Alani Nutrition. A lot of people don’t seem to know but the numbers are spectacular. Makes it a little healthier company. Jon is, some people feel is a promoter. I think he is an operator. That’s different. Promoter and operator.”

10. Hims & Hers Health, Inc. (NYSE:HIMS)

Number of Hedge Fund Holders In Q4 2024: 38

Hims & Hers Health, Inc. (NYSE:HIMS) is a technology company that enables users to digitally avail health care services and access. It’s one of the top-performing stocks on Wall Street as the shares have gained 417% over the past year. Hims & Hers Health, Inc. (NYSE:HIMS)’s shares have benefited from several catalysts. These include the firm’s decision to include weight loss drugs in its portfolio and continued customer growth. However, the shares dropped by 26% in February after the FDA announced that the shortage of weight loss drugs was ending. The shortage end implied that the firm would be unable to charge high prices for the treatments. Here is what Cramer said about Hims & Hers Health, Inc. (NYSE:HIMS):

“Now HIMS by the way . . .they are adamant, let me put this really clear. That they’ve got waste that they can do compounding. So they’re not that worried, it is a big short squeeze by the way. And I don’t like to really recommend short squeezes other than Palantir! Palantir! You can’t go wrong with Palantir. You can mention, I have fifteen of my friends down at the [inaudible] on what was the stock that they owned? Palantir.”

9. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders In Q4 2024: 40

Rivian Automotive, Inc. (NASDAQ:RIVN) is an electric vehicle company that makes and sells electric pickup trucks and SUVs. Its shares have gained 28% over the past year primarily on the back of a 75% gain between late June and early July. Rivian Automotive, Inc. (NASDAQ:RIVN)’s shares soared by an unbelievable 43% in June after a CNBC report revealed that the firm could see a $5 billion investment from German auto giant Volkswagen. However, trouble in the EV market and slowing sales growth meant that the stock closed 2024 28% lower than its July peak. Here’s what Cramer said about Rivian Automotive, Inc. (NASDAQ:RIVN):

“[on RIVN’s light guidance] The normal plant is doing well. I know that they missed by about five, six thousand. But I don’t wanna be in that business unless I’m with Musk. It’s that, the stuff isn’t selling well enough. It really isn’t. I really like Rivian, but wow, I gotta tell you, this administration, they’re trying to impound that money. I think that they would like to take a lot of money back Biden released in the last few weeks. It’s against the law, but that really [laughs] is an abstraction now. It’s an abstraction to be against the law. Who’s gonna enforce it? The Justice Department? The Justice Department. . .”

8. Super Micro Computer, Inc. (NASDAQ:SMCI)

Number of Hedge Fund Holders In Q4 2024: 45

Super Micro Computer, Inc. (NASDAQ:SMCI) is a computer hardware company that primarily caters to the needs of the data center and server industries. It’s been one of the most volatile stocks in the AI era as the shares closed 2024 19% lower as investors reacted to a short seller report alleged accounting impropriety and Super Micro Computer, Inc. (NASDAQ:SMCI) failed to file its 10K report. However, 2025 has seen the firm resolve these issues and regain trust with its major partner NVIDIA. The shares are up 87% year-to-date, and Cramer’s previous remarks for Super Micro Computer, Inc. (NASDAQ:SMCI) have stressed the importance of NVIDIA’s orders for the firm. Here are his latest comments:

“[SMCI’s gains] That’s all NVIDIA, remember? It’s NVIDIA, that’s the Blackwell.”

7. Viking Holdings Ltd (NYSE:VIK)

Number of Hedge Fund Holders In Q4 2024: 51

Viking Holdings Ltd (NYSE:VIK) is a cruise ship company that is part of the broader industry enjoying tailwinds from an uptick in travel. Its shares have gained 84% since being listed last year. Viking Holdings Ltd (NYSE:VIK) had booked 70% of its 2025 capacity by November last year. In his previous remarks, Cramer has pointed to a stronger US dollar benefiting the firm. However, its stock fell by 3.6% after Treasury Secretary Lutnick hinted that President Trump might remove tax exemptions for the industry. Here’s what Cramer said:

“Kind of shocking to say, one of the greatest groups in this market has been the cruise lines. It has just become, remarkable comeback, and this is the long on money, short on time. Meaning, let’s find the bar again and travel. . . These all got clocked. Why? Because Howard Lutnick, the new Commerce Secretary said that President Trump might wanna be able to get rid of the, their inability to pay tax. They don’t pay tax. Again, what I keep referring to is, Congress passed an actual codified section . . . saying that their income is not taxable! So you know, you need to get Congress to check off. Now, Citi in its note does say to make these changes we believe President Trump would need to focus on the cruise industry. But I’m implying that if the President does focus, then it gets rid of Congress. Now, look, maybe I’m outmoded. I have been focused on Congress cause that’s the way our country has, since, I don’t know, like Jefferson. But everything’s new! This needs Congressional approval. I don’t know how else he can do it!”

6. Texas Roadhouse, Inc. (NASDAQ:TXRH)

Number of Hedge Fund Holders In Q4 2024: 52

Texas Roadhouse, Inc. (NASDAQ:TXRH) is an American casual dining restaurant company based in Louisville, Kentucky. Its shares are up by 13.6% over the past year as the firm has benefited from same-store sales growth and technology initiatives. Texas Roadhouse, Inc. (NASDAQ:TXRH)’s same-store sales grew by 8% during Q3 2024, as they followed up on a strong second quarter that saw the firm grow revenue by 15% and EPS by 47%. However, Cramer is cautious about Q1 2025. Here’s what he said about Texas Roadhouse, Inc. (NASDAQ:TXRH):

“I am going to agree with that, I’ll tell you on the Texas Roadhouse call, mocktails, mocktails doing incredibly well. “Texas Roadhouse, don’t forget the cinnamon buns and the amazing eleven-dollar stake, that’s a fantastic deal. We have to figure out exactly whether January’s good or bad. And whether it’s the weather. Even, we’re gonna look to Valentine’s Day, that’s how close it is.”

5. Carnival Corporation & plc (NYSE:CCL)

Number of Hedge Fund Holders In Q4 2024: 56

Carnival Corporation & plc (NYSE:CCL) is another cruise ship operator that has enjoyed favorable tailwinds in its industry. Its shares have gained 52.5% over the past year as the firm benefited from strong advance bookings in 2024. However, in 2025, Carnival Corporation & plc (NYSE:CCL)’s stock is down by 7%. The stock dropped by 11% in February and turned the year’s gains into red after investors sold the shares worrying that President Trump would cancel tax exemptions enjoyed by the cruise ship industry. Here’s what Cramer said:

“Kind of shocking to say, one of the greatest groups in this market has been the cruise lines. It has just become, remarkable comeback, and this is the long on money, short on time. Meaning, let’s find the bar again and travel. . . These all got clocked. Why? Because Howard Lutnick, the new Commerce Secretary said that President Trump might wanna be able to get rid of the, their inability to pay tax. They don’t pay tax. Again, what I keep referring to is, Congress passed an actual codified section . . . saying that their income is not taxable! So you know, you need to get Congress to check off. Now, Citi in its note does say to make these changes we believe President Trump would need to focus on the cruise industry. But I’m implying that if the President does focus, then it gets rid of Congress. Now, look, maybe I’m outmoded. I have been focused on Congress cause that’s the way our country has, since, I don’t know, like Jefferson. But everything’s new! This needs Congressional approval. I don’t know how else he can do it!”

4. Royal Caribbean Cruises Ltd. (NYSE:RCL)

Number of Hedge Fund Holders In Q4 2024: 58

Royal Caribbean Cruises Ltd. (NYSE:RCL) is the penultimate cruise ship stock on our list. Like its industry peers, the firm has benefited from the growth in demand for cruise holidays by Americans. In his previous remarks, Cramer explained that a softer dollar and pent-up pandemic demand drove cruise stocks up to create value at a price. Over the past year, Royal Caribbean Cruises Ltd. (NYSE:RCL)’s shares have gained 92% to make them a standout in the sector. Like its peers, they also dropped in February following worries about the Trump administration’s potential to end tax exemptions for the sector. Here’s what Cramer said:

“Kind of shocking to say, one of the greatest groups in this market has been the cruise lines. It has just become, remarkable comeback, and this is the long on money, short on time. Meaning, let’s find the bar again and travel. . . These all got clocked. Why? Because Howard Lutnick, the new Commerce Secretary said that President Trump might wanna be able to get rid of the, their inability to pay tax. They don’t pay tax. Again, what I keep referring to is, Congress passed an actual codified section . . . saying that their income is not taxable! So you know, you need to get Congress to check off. Now, Citi in its note does say to make these changes we believe President Trump would need to focus on the cruise industry. But I’m implying that if the President does focus, then it gets rid of Congress. Now, look, maybe I’m outmoded. I have been focused on Congress cause that’s the way our country has, since, I don’t know, like Jefferson. But everything’s new! This needs Congressional approval. I don’t know how else he can do it!”

3. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)

Number of Hedge Fund Holders In Q4 2024: 58

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s shares closed 2024 28% higher as they benefited from high occupancy rates early during the year. In Q2 2024, the firm’s occupancy was 106%. Its revenue grew by 11% during Q3, and in anticipation of growing demand, it grew its capacity by adding a new ship capable of ferrying more than 3,500 guests in September. Cramer was appreciative of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in his previous remarks, as he shared that despite high debt levels in the industry, the firm was capable of making a large payment that was due soon. Here are his latest comments about Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH):

“Kind of shocking to say, one of the greatest groups in this market has been the cruise lines. It has just become, remarkable comeback, and this is the long on money, short on time. Meaning, let’s find the bar again and travel. . . These all got clocked. Why? Because Howard Lutnick, the new Commerce Secretary said that President Trump might wanna be able to get rid of the, their inability to pay tax. They don’t pay tax. Again, what I keep referring to is, Congress passed an actual codified section . . . saying that their income is not taxable! So you know, you need to get Congress to check off. Now, Citi in its note does say to make these changes we believe President Trump would need to focus on the cruise industry. But I’m implying that if the President does focus, then it gets rid of Congress. Now, look, maybe I’m outmoded. I have been focused on Congress cause that’s the way our country has, since, I don’t know, like Jefferson. But everything’s new! This needs Congressional approval. I don’t know how else he can do it!”

2. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders In Q4 2024: 63

Palantir Technologies Inc. (NASDAQ:PLTR) is one of Cramer’s top stocks as not a day goes by without him mentioning either the firm or its CEO Alex Karp. He had predicted that the share price would cross the $100 mark before it did so this year. More recently, Cramer has linked Palantir Technologies Inc. (NASDAQ:PLTR)’s future to its ability to influence budget cuts and efficiency at the Pentagon by working with Elon Musk’s DOGE agency. In his latest remarks, Cramer also commented on Palantir Technologies Inc. (NASDAQ:PLTR)’s valuation and the recent share price drop after reports of the firm suffering from the aforementioned budget cuts:

“Oh they’re gonna walk it back. They’re back, walking it back up. It’s not clear by the way whether there is insider selling to a level that they’re talking about. I will point out that the last twenty points were twenty points of I think Alex Karp doing his book tour. And talking about things. And what really got it down was, and I’m not so sure it’s the right thing to do, because we listened to Morgan Brennan’s excellent interview, with Jim Taiclet of Lockheed Martin, he said listen they’re not the enemy, we work with them. But the idea is they really have been the enemy. And I, will point out that they have said over and over again that the concentration of a few defense companies has made it so the Defense Department is ripped off. So by no means do I think that Palantir’s out of the equation as being a fighter of waste. I thought that for sure, that because of their close relationship with Musk, that they would be tapped by DOGE to come in and help. That has not happened.”

“Yes, oh no, Palantir, Karp would tell you, that when you bring them in, they start saving you money and they start doing the right thing. He’s vociferous about it. Uh, we don’t really have the data. We know international’s actually bad for them. And that is a substantial part of their business. So there are things that are not going right for Palantir. But again Karp would tell you that. I think the crucial thing is do they get anointed by DOGE to save money in the Defense Department. Because they actually know where the bodies are because they happen to be at procurement. And that is at the heart of the waste. It’s procurement. And they know it. I mean I’m reading Alex’s book. Actually it’s well-sourced. There’s page after page of actual, in footnotes, it’s not, I read another one that was online, it was really terrible. When I got the copy [inaudible] I sent that note to Alex Karp’s assistant saying thank you very much it’s better than such and such book. But maybe it got sent to me by mistake, I’ve been critical. But they know. And you know what I’m really not critical. If you look at my record about the stock, since fifty I said it was gonna double. And I think it’s going to come back. It’s gonna come back hard.”

“But that’s [the Rule of 40 multiple] a hoot. That’s a hoot multiple! It’s a hoot! . . .That’s a technical term. No, I mean come on, Palantir doesn’t trade on a multiple basis. It trades on, David, the Rule of 40! And it’s got an 81! How dare you challenge this made-up rule of forty that’s so important about the growth rate and the uh, the margin. What do you think? You don’t think that’s important? Are you going to defy the orthodoxy. This is 81, Palantir. Actually, Alex Karp recently called for a Rule of 80, he thinks the forty doesn’t work! And it is the highest, it’s the fastest growing, it’s the way he sells the stock, 81. Not sells the stock personally because I don’t get in the crosshairs of Palantir, they’re, because he’s also the greatest shot, greatest pistol shot in our country. . . And I would not wanna mess with Alex Karp. I don’t wanna be in a, look he went, first of all, he went to Central High in Philadelphia, so he’s scrappy. Look I don’t wanna have . . .bodyguards because of Alex Karp.”

1. Novo Nordisk A/S (NYSE:NVO)

Number of Hedge Fund Holders In Q4 2024: 64

Novo Nordisk A/S (NYSE:NVO) is a Danish pharmaceutical firm that is a key part of the global weight loss drug industry. Consequently, weight loss drugs are a key part of its hypothesis. This dependence was clear in December when Novo Nordisk A/S (NYSE:NVO)’s shares dipped by 20% after the firm’s weight loss drug trial missed investor estimates. In 2025, the stock is flat after having struggled due to worries about tariffs. However, Novo Nordisk A/S (NYSE:NVO)’s stock rose by 5% in February after the FDA announced that weight loss drug supply constraints were over. Here is what Cramer said:

“By the way, Wegovy’s no longer in short supply and people are taking up Lilly. I [inaudible] Wegovy down and I think that’s probably, I’m not sure that’s necessarily the, the right thing with Lilly.”

NVO is a stock Jim Cramer recently discussed. While we acknowledge the potential of NVO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.