Jim Cramer, the host of Mad Money, on Wednesday shared what he called his best “buyback monsters,” explaining that these companies can offer investors a path to earnings growth.
“With the data center trade flagging, we’re seeing money rotate back into all sorts of non-tech growth stocks. And if you want earnings per share growth, the most straightforward way to get it is by betting on companies with enormous buybacks. Even if the underlying business isn’t growing, as long as they’re repurchasing enough shares, they shrink the share count and therefore, their earnings per share soar. Since the end of 2015, there are 51 companies in the S&P 500 that have reduced their share count by more than 30%. That’s amazing.”
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Cramer also noted that buybacks alone do not guarantee success. He said that not every company on that list deserves investor money and explained that repurchasing stock cannot rescue a business that is deteriorating. He added that buybacks can sometimes be a poor use of capital and pointed out that the five largest repurchasers over the past decade have all lagged the S&P 500. Because of that, Cramer said he reviewed all 51 companies and narrowed the group down to 10 he believes are worth recommending.
“Here’s the bottom line: When you’ve got a company with strong fundamentals and a long history of aggressively buying back its own stock, you just might have a winner, especially now that the market’s fallen out of love, at least momentarily, with the tech stocks.”
Our Methodology
For this article, we compiled a list of 10 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on December 17. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the third quarter of 2025, which was taken from Insider Monkey’s database of 978 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).
Jim Cramer Was Bullish on 10 Stocks Due to Share Buyback Activity
10. AutoZone, Inc. (NYSE:AZO)
Number of Hedge Fund Holders: 60
AutoZone, Inc. (NYSE:AZO) is one of the stocks Jim Cramer was bullish on due to share buyback activity. Cramer highlighted that he has recommended the stock “endlessly.” He commented:
“Finally, there’s one that I’ve recommended to you endlessly, and that is AutoZone, the auto parts retailer, which has shrunk its share count by 44.9%, can you believe that, since the end of 2015, 44.9%. If you go back to the summer of 1998, AutoZone’s shrunk its share count by roughly 89%. That’s why the stock’s been a massive long-term outperformer I always recommended. At the same time, I like the fundamentals here. Rates are still high. Getting financing for new cars is expensive, so people need new parts to make their old cars last longer. Plus, AutoZone’s pulled back 22% from its highs. You know what? I’d be a buyer. I bet the company is too.”
AutoZone, Inc. (NYSE:AZO) sells and distributes automotive replacement parts, maintenance items, and accessories for cars, SUVs, vans, and light trucks. Cramer mentioned the stock during the September 19 episode and said:
“Tuesday morning, we have AutoZone, AZO, reports, and I’ve been recommending this stock for two decades because no matter what happens, the company takes whatever cash it has on hand that’s spare and uses that money to buy back stock. It’s the most aggressive buyback in the New York Stock Exchange. Plus, the average car on the road in this country is getting real old. New ones cost a lot of money after tariffs, too much money. If you want to repair or maintain your old car yourself, it’s easier than ever because the instructions are all on YouTube. Even I, you know, 5, 10, 17 thumbs, I figure out stuff on YouTube and the parts, you can buy them at AutoZone.”
9. HCA Healthcare, Inc. (NYSE:HCA)
Number of Hedge Fund Holders: 73
HCA Healthcare, Inc. (NYSE:HCA) is one of the stocks Jim Cramer was bullish on due to share buyback activity. Cramer noted that the company significantly reduced its share count, as he remarked:
“Ninth, there’s HCA Healthcare. I’ve said I’ve liked this many times. It operates a network of 190 hospitals along with roughly 2,400 ambulatory care sites, and that’s not even counting the British business. HCA has shrunk its share count by 44% since the end of 2015. I’ve pushed the stock hard in recent years, and it just keeps climbing higher. HCA hit new all-time highs last month, but since then, it’s pulled back nearly 50 bucks on really no particular reason. I think it’s a terrific one to buy.”
HCA Healthcare, Inc. (NYSE:HCA) runs hospitals that provide inpatient, emergency, surgical, diagnostic, and intensive care services. In addition, the company operates outpatient and behavioral health facilities and physician practices. L1 Capital stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its third quarter 2025 investor letter:
“We continued to trim our investment in HCA Healthcare, Inc. (NYSE:HCA) the leader in for-profit hospital and outpatient services in the U.S. after strong share price appreciation. While we continue to retain an investment in the company, it is no longer a top 10 Fund holding. At times the market has taken an overly pessimistic view of potential regulatory developments affecting HCA, causing the share price to fall to attractive levels. We have used these windows of opportunity to materially increase our HCA investment in the past. Today, expectations for operating conditions are much more balanced, the HCA share price has increased materially, and our assessment of risk adjusted return potential from the current share price is less favourable.”
