On Tuesday, Jim Cramer, the host of Mad Money, broke down which stocks came out on top in the first half of 2025 and which names in the S&P 500 fell the hardest.
“The first half of 2025 is officially over, and it’s been a wild ride. Let’s learn. The market got obliterated in early April thanks to the president’s Liberation Day tariff announcements.”
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Cramer noted that soon after, there was a swift rebound as most of those tariffs were eventually delayed or dropped altogether. He highlighted that by the end of June, the Dow had risen 3.6%, while both the S&P 500 and the Nasdaq posted gains of 5.5%, finishing the second quarter at all-time highs. However, not every corner of the market participated in the rebound. Cramer noted that the small-cap-focused Russell 2000 was still down and took a jab at earlier investor sentiment, commenting, “Remember how everyone said to buy those?”
“Here’s the bottom line: Looking back at the top five performers in the S&P 500 for the first half, it’s kind of a mix of representatives from the market’s top themes, AI data center, anything that can help them keep the lights on, plus, the red hot bull market in aerospace… These winners can teach us a great deal, but there’s just as much to learn from the market’s worst performers.”
Our Methodology
For this article, we compiled a list of 10 stocks that were discussed by Jim Cramer during the episodes of Mad Money aired on July 1. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the first quarter of 2025, which was taken from Insider Monkey’s database of 1,000 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Jim Cramer Recently Discussed These 10 S&P 500 Stocks
10. Edison International (NYSE:EIX)
Number of Hedge Fund Holders: 44
Edison International (NYSE:EIX) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. The company was the last of the worst S&P 500 performers in the first half of the year, and Cramer said:
“Finally, the fifth worst performer… of the first half was Edison International, that’s a regulated electric utility in southern California, with the stock that was down 35%. This year began with those horrific LA wildfires, which took place in the company’s service area. But that’s not what truly crushed the stock. California utilities have all proven to be bad investments this year… What’s the issue in California? Proposed regulations that were originally aimed at addressing affordability, but somehow morphed into a major regulatory overhaul.
The bill in question… would create a new regulatory authority, force utilities to take on debt to pay for fire mitigation, capital efforts, and other capital spending, while also limiting their ability to recoup these costs by raising prices. Oh man, the utilities would… have to make an ongoing contribution to a state-run wildfire insurance fund.
The bill passed the California Senate last month, and it’s still working its way through… the state assembly. I don’t want to get into the politics of this, but obviously, it would be very bad for the utilities that do business in the state. If you buy something like Edison International here, you’re betting that this bill dies in the next couple of weeks or gets vetoed by the governor. I personally wouldn’t take that bet.”
Edison International (NYSE:EIX) produces and delivers electricity throughout Southern California. The company serves residential, commercial, industrial, and agricultural customers.
9. lululemon athletica inc. (NASDAQ:LULU)
Number of Hedge Fund Holders: 48
lululemon athletica inc. (NASDAQ:LULU) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Cramer acknowledged that he was wrong about LULU bouncing back in May and said:
“The fourth worst performer, wow, lululemon athletica, the former athleisure kingpin, which suffered a nearly 38% decline in the first half. lululemon’s struggling for some of the same reasons as Deckers, and that includes an excessive reliance on Vietnamese manufacturing, which we all thought people should be doing. Back in late May, I told you that lululemon might be due for a comeback, given how far its stock had fallen. That was a big mistake of mine. I guess I had too much reverence for the brand, and I thought the expectations were too low.
No, turns out they weren’t low enough. LULU reported a stinker of a quarter last month, sending its stock down almost 20% in a single session, and it hasn’t been able to find its footing since. Can LULU come back now? Stock’s certainly cheap, selling for less than 17 times this year’s earnings estimates, but I just stuck my neck out on this one only to have it chopped off. At the end of the day, while LULU pretty much invented the athleisure space, that business has become incredibly competitive. So until they can put up better numbers, LULU’s in the penalty box here.”
lululemon athletica (NASDAQ:LULU) designs athletic apparel, footwear, and accessories for both men and women.
8. UnitedHealth Group Incorporated (NYSE:UNH)
Number of Hedge Fund Holders: 139
UnitedHealth Group Incorporated (NYSE:UNH) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Coming to UNH on his list of the worst performers of the S&P in the first six months of the year, Cramer said:
“The third worst performer was, wow, UnitedHealth Group, suddenly very troubled managed care company that used to be the ultimate darling in the group. It’s down 38% in the first half. UnitedHealth’s troubles are very well documented. I’m not even talking about the assassination last December, as terrible as that was. The real trouble started in April when the company reported a weak quarter, dragged down by high utilization rates, meaning people are getting much more healthcare than UNH… needs to pay for.
What’s starting to become clear is that the company made some major missteps with its underwriting, especially with Medicare Advantage plans for seniors. They’re far from the only one in the industry with this problem, but UNH might be the hardest hit. This is the largest player in the Medicare Advantage space with the most extensive data, and they really should have been able to avoid these mistakes. They almost always have, but clearly, they didn’t.
The company made a change in the top mid-May with CEO Andrew Witty stepping down for personal reasons. Turning around UNH is now the job of Stephen Hemsley, whom I really like. He was previously CEO from 2006 to 2017. And there’s some nascent optimism that he can get this business back on track, but I don’t necessarily think this will happen quickly. If you’re inclined to bet on a UNH comeback, I suggest that you take it slowly because you got all the time in the world. You actually might even want to wait to see the next quarter, which could be what we call a clearing event for the negatives.”
UnitedHealth Group (NYSE:UNH) operates as a diversified healthcare company providing a wide range of health benefit plans. The company delivers care services, pharmacy programs, and data-driven healthcare solutions.
7. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 40
Enphase Energy, Inc. (NASDAQ:ENPH) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Cramer noted that the reason behind the stock’s decline is “political” and commented:
“Next, the second-worst performer in the S&P through June was Enphase Energy, that’s a solar power play, with the stock down 42%. Now this one is just political. The solar industry relies on tax credits, but the Big Beautiful Bill that just passed the Senate will cut those tax credits, starting in a couple of years. Doesn’t help that Enphase reported the latest in a long line of weak quarters in late April.
This was once one of the greatest growth stories around. Now, it’s basically untouchable as the fundamentals stink, and the regulatory backdrop is likely to get much worse for the company. Sadly, the solar industry’s become a partisan football.”
Enphase Energy (NASDAQ:ENPH) develops and markets smart energy solutions comprising microinverters, batteries, and software for solar power monitoring and control. The company offers energy storage products, electric vehicle charging equipment, cloud-based services, and assistance with system design and permitting.
6. Deckers Outdoor Corporation (NYSE:DECK)
Number of Hedge Fund Holders: 63
Deckers Outdoor Corporation (NYSE:DECK) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Diving into the reasons behind the stock’s decline, Cramer said:
“The biggest loser in the S&P 500 in the first half was Deckers Brands, down 49%. Now, this company… the parent of UGG, HOKA, and Teva, used to be one of my faves. HOKA is a terrific sneaker brand. And from the end of 2019 through the end of 2024, this stock shot up 622%.
But now Deckers has nearly been cut in half over the last six months, in part because the whole consumer discretionary category has become much less attractive, given the global trade war. And in part because when Deckers reported in late May, their guidance was awful, and growth at the key HOKA brand slowed dramatically. So, investors simply gave up on this one. But is Deckers really all that bad? Is it a lost cause? I’m not ready to throw in the towel. Why? First off, the stock’s gotten incredibly cheap. It now sells for just 17 times this year’s earnings estimates.
While I don’t like that the earnings are on track to decline this year, I’m also cognizant of the fact that Deckers has beaten the earnings estimates for 14 consecutive quarters, usually by a substantial amount. So maybe it won’t be a down year. However, I’d feel a lot more confident in Decker’s comeback if we could somehow get some clarity on President Trump’s tariffs. These guys do a ton of manufacturing in Vietnam, and we don’t know if Vietnam will end up with a baseline 10% tariff or something close to the 46% tariff that the President proposed on Liberation Day.”
Deckers Outdoor (NYSE:DECK) provides a range of footwear, apparel, and accessories. The company’s product portfolio features premium UGG items, performance footwear from HOKA, and casual shoes and sandals under brands like Teva, Sanuk, Koolaburra, and AHNU.
5. GE Vernova Inc. (NYSE:GEV)
Number of Hedge Fund Holders: 111
GE Vernova Inc. (NYSE:GEV) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Expressing bullishness on the company, Cramer stated:
“Finally, in fifth place for the first half of the year, we’ve got GE Vernova, Cramer fave, the power business that was spun off by the old General Electric about 15 months ago. This stock was up 61% in the first half of the year, and it’s given you a more than 250% gain since it started independently trading in April of last year. Now, GE Vernova’s got a couple of things going for it. First, they make turbines for power plants, which makes this another huge beneficiary of the AI data center theme because we’re desperate for new power generation in this country that turns natural gas into power.
Second, as Vernova CEO, Scott Strazik told us when he came on the show in late April, his company could see some real benefits from trade tensions. Just like Boeing’s planes, GE Vernova’s turbines are big-ticket items. They cost tens of millions of dollars each. People say they’re about $50 million on average. The Trump administration wants a lot of countries to reduce their trade surpluses with the United States, and buying a bunch of natural gas turbines is an easy way to make that happen.
I’ve liked GE Vernova since before it was spun out of GE, and I see no reason to turn bearish now. Sure, the stock’s expensive, trading at roughly 72 times this year’s earnings estimates, which is why a couple of analysts have downgraded it, from Buy to Hold in recent weeks. But the scale of the opportunities is enormous, and the story seems almost tailor-made for this moment. Look, over time, I bet GE Vernova can continue to grind higher. Count me as a buyer for the trust.”
GE Vernova (NYSE:GEV) offers technologies and services focused on electricity generation, conversion, storage, and management. The company’s portfolio covers gas, nuclear, wind, solar, and grid solutions. The company delivers hardware and software designed to support the entire energy cycle, from production to consumption.
4. Seagate Technology Holdings plc (NASDAQ:STX)
Number of Hedge Fund Holders: 55
Seagate Technology Holdings plc (NASDAQ:STX) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Coming to STX, Cramer commented:
“In fourth place… this is an amazing one, Seagate Technology of all things, up 67% in the first half after more than doubling from its lows in April. Seagate makes hard drives and flash-based solid state drives, basically storage hardware, the textbook commodity tech product. But right now, the hard drive business is booming, and the company announced a $5 billion buyback a little over a month ago while projecting mid-teens revenue growth through 2028. That’s not bad.
This one’s a reflection of the AI data center bull market. As long as people are building these big warehouses full of servers, they need everything that goes into a server, including storage, even if the lineage is ancient. We had a big scare earlier this year with all that DeepSeek nonsense. But once companies began reporting in April, it became clear that DeepSeek had no impact on anything, and stocks like Seagate have been making up for lost time ever since. Can it keep running? Look, if data center demand stays strong, it wouldn’t surprise me, even as this one’s just made a new all-time high today.”
Seagate Technology (NASDAQ:STX) provides data storage products that include hard drives, solid state drives, and external storage devices. The company also offers an edge-to-cloud platform intended to support enterprise infrastructure in on-premise and cloud settings.
3. Howmet Aerospace Inc. (NYSE:HWM)
Number of Hedge Fund Holders: 56
Howmet Aerospace Inc. (NYSE:HWM) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. HWM was among the S&P 500 winners in the first half of 2025 that were discussed by Cramer during the episode, and he said:
“In third place, we’ve got another familiar name, Howmet Aerospace, that’s a prosaic aircraft component supplier… It’s with a 70% gain in the first half. This one’s straightforward. Howmet’s caught fire because we’ve got a raging bull market in aerospace…
Right now, the demand for new planes is off the charts, but supplies are limited, and we might see even more orders as President Trump conducts his trade negotiations all over the globe because buying a few jets from Boeing is the ultimate olive branch when you’re in a trade war with the United States. Aerospace is just a great place to be. If you don’t have any already, please get yourself some exposure.”
Howmet Aerospace (NYSE:HWM) supplies engineered components and technologies for the aerospace and transportation industries. The company’s offerings include engine parts, fastening systems, structural assemblies, and forged aluminum wheels. It operates in both commercial and defense markets worldwide.
2. NRG Energy, Inc. (NYSE:NRG)
Number of Hedge Fund Holders: 54
NRG Energy, Inc. (NYSE:NRG) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. The company was second on the list of S&P 500 winners in the first six months of 2025, and Cramer stated:
“Next up is NRG Energy, which was the second best performer, up 78%. This Houston-based power generation utility is roaring thanks to the insatiable demand for electricity in the year of AI data centers. Lately, these power generation utilities have been huge winners. I mean, we saw it with Constellation Energy, Vistra. It’s happening again with NRG. However, NRG is only partly an independent power producer.
[The] company also has a residential utility as well as a home solar business. And as the Wall Street Journal recently pointed out, it makes a lot of money from derivatives trading. I’m not crazy about that, but it makes NRG more like an energy trading hedge fund in some respects. I’m not crazy about that either, which brings me to the other reason the stock’s having a great year. Back in May, NRG announced it’s acquiring a handful of natural gas fuel power plants along with some other assets from LS Power.
The deal’s valued at $12 billion, though that’s in cash and stock and the assumption of debt. NRG stock jumped 26% the day the deal was announced, and it’s climbed a bit more since then because Wall Street loves the fact that they’re doubling down on power generation. Also, caused a lot of shorts to cover because they were just in there to believe that it was just a big hedge fund.”
NRG Energy (NYSE:NRG) is an energy and home services provider that produces and sells electricity through multiple generation sources. The company delivers smart home technologies and provides retail offerings and energy management services across its customer base.
1. Palantir Technologies Inc. (NASDAQ:PLTR)
Number of Hedge Fund Holders: 77
Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks listed in our article, Jim Cramer recently discussed these 10 S&P 500 stocks. Starting his list of S&P 500 winners in the first half of the year with the company, Cramer said:
“The biggest winner of the first half was, of course, Palantir Technologies, the government enterprise software company with the stock that’s beloved by individual investors. It finished the first six months of the year up more than 80%. The skeptics will point to Palantir’s nosebleed valuation, I mean, this is now a $308 billion company, trades at a mere 225 times this year’s earnings estimates, or the fact that very few people can articulate what their software really does.
But that’s par for the course with enterprise software stories, and Palantir’s got tremendous growth with surprisingly high margins. Just as important, the people who run the company are simpatico with the Trump administration, especially the Defense Department. Good way to win business. They want to change the Defense Department in a way that I think you and I might want, but they’ll just say it in a potty-mouth way.
Palantir’s now a $130 stock, and I’ve said for a while now that it’s headed to $200, not because of the fundamentals, but because that’s how momentum stocks behave. Just remember, if you’ve got huge gains in this one, those gains don’t count until you’re reading the register on part of the position. Take something off the table, let the rest run, play with the house’s money.”
Palantir (NASDAQ:PLTR) builds software platforms, including Gotham, Foundry, Apollo, and its AI Platform, which are designed to enable organizations to integrate, analyze, and respond to complex data. The company’s technology is used in areas such as counterterrorism, enterprise operations, and artificial intelligence deployment.
While we acknowledge the potential of Palantir Technologies Inc. (NASDAQ:PLTR) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLTR and that has 100x upside potential, check out our report about this cheapest AI stock.
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