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Jim Cramer and Jeff Marks, the Club’s director of portfolio analysis, on Thursday ran through all 31 portfolio holdings during the September Monthly Meeting. The two went over the best ways to play the stock market in the last months of 2025 while considering factors like the Federal Reserve’s monetary policy decisions, President Trump’s tariff moves, China’s influence and more. Here’s a rapid-fire update on each stock. Apple: Dismiss Wall Street’s negativity about the newest iPhone 17 models, Jim said. Instead, the latest versions of Apple’s flagship device are a huge bargain, especially when you combine the trade-in value with incentives from cellular providers like Verizon or T-Mobile. “I can’t wait to upgrade,” he added. Amazon: There’s more upside for this tech stock if margin expansion continues. That can be accomplished, in part, by lowering cost of serving customers, specifically on the e-commerce side. At the same time, we want to see some reacceleration in growth at its crucial cloud unit Amazon Web Services, which didn’t have the same growth as peers Google Cloud and Microsoft Azure in the second quarter. Abbott Laboratories: Shares have a habit of making big moves and then consolidating. Still, at roughly 24 times earnings, we want to own this high-quality med tech and pharmaceutical stock for as long as we can. Quality like this is awfully hard to come by. Broadcom: As much as we believe Broadcom has a rosy future, our investment discipline cannot go out the window. That’s why we just took some profits in the stock after its weighting in portfolio grew well in excess of 5%. Boeing: This is the Club’s newest addition to the portfolio. We started our position on the view that the company will benefit from President Donald Trump’s trade policies, increasing demand for its aircrafts. There’s also a great turnaround story for the aerospace giant’s balance sheet. Jim says the stock has the most multi-year upside out of all of our names. BlackRock: Jim described this financial name as “a bull market stock” because it benefits as asset prices push higher. That doesn’t make its underperformance versus some of the big banks any more enjoyable, though. CEO Larry Fink’s push into investments in areas with fast growth and higher fees such as infrastructure is a smart one. Bristol Myers Squibb: This position all comes down to Cobenfy, its schizophrenia drug that endured a clinical-trial setback earlier this year. We haven’t lost all faith because there are a few more studies due out soon, particularly one looking at Cobenfy in Alzheimer’s psychosis, that could improve sentiment around the stock. We’re urging patience for now. Capital One: There’s more upside ahead for this stock now that Capital One’s Discover acquisition is complete. We’re anticipating more share repurchases, given the excess capital the firm has. Jim celebrated Capital One’s management team, too. “[CEO] Richard Fairbank is an amazing operator,” he said. Costco: The stock’s recent struggles could be chalked up to a number of reasons, ranging from its perception as a safety stock to Amazon’s push into same-day grocery delivery. But that doesn’t mean Costco is doing poorly as a business. It’s just the opposite. While some investors may be worried about its valuation here, we’re not worried about it over the long term. Salesforce: The software-as-a-service stocks have been in the house of pain for a while now, but perhaps the situation at Workday indicates Salesforce has paid enough of a price. While we don’t recommend buying Salesforce down here, we also wouldn’t sell it at these levels ahead of its influential Dreamforce conference. CrowdStrike: Shares surged Thursday after the company set an ambitious 10-year target of $20 billion in annual recurring revenue (ARR). That confidence from management is yet another reason to like the industry-leading cybersecurity name. Shares may not be cheap, but there’s a reason for that. Cisco Systems: We’re sticking by this stock despite its recent underperformance. After all, it pays to wait with Cisco’s solid dividend. However, we’re hoping that more will come from the company’s partnership with fellow Club holding Nvidia. DuPont: This company took another step toward its planned breakup Thursday, hosting Investor Days for both the new DuPont portfolio and the forthcoming Qnity Electronics spin-off. Qnity, which is more exciting as a pure play for the semiconductor industry, is expected to deliver mid single-digit revenue growth. Jim says Qnity is undervalued versus its peers, and the spin should unlock more value. Danaher: Owning Danaher hasn’t been easy. China is still a headwind, but they did announce a big buyback and we don’t want to give up on value just yet. Disney: Shares of the entertainment giant have stalled on the view that Disney’s theme park business is too costly. We disagree, given that plenty of customers are still visiting. Still, the Club has waited a long time in this stock for very little profit. Dover: This stock has been disappointing, especially after its lackluster quarterly earnings. We’re staying the course though because the future still looks bright. After all, there’s been solid momentum in orders. Management has also thoughtfully deployed capital with acquisitions into fast-growing industries. Eaton: If this stock were to pull back, we’d consider buying more. That’s, in part, because even more business should come to Eaton’s data center business as hyperscalers increase their AI spend. Oracle’s recent blowout quarter earning report was a good sign. GE Vernova: Although it’s an expensive stock, it’s worth owning GE Vernova to be levered to a key secular trend – the data center buildout. The increase in AI infrastructure requires enormous amounts of energy that GE Vernova’s natural gas turbines help to generate. It would be great if GE Vernova expanded production capacity more, given the outsized demand for these turbines, but management’s hesitancy is understandable. Goldman Sachs: This Wall Street firm has everything going for it. Jim predicted more revenue growth for Goldman’s investment banking division as the number of IPOs and M & A deals continue to go up. Plus, its wealth management business has been looking more attractive as Goldman further diversifies. Home Depot: Our next move in this stock is likely a trim. There’s been a consistent risk for Home Depot because the housing market’s turnaround hasn’t gone as we had expected. Without that catalyst, there’s little reason to buy more of the home improvement retailer anytime soon. Honeywell International: Don’t expect this industrial stock to run much more until its split is complete. Shares have continued to lag in a phenomenon that some on Wall Street call, “spin purgatory.” Jim added, “What an excruciating moment we are having, [but] I can’t give up on value.” Linde: The maker of industrial gases has had to deal with a perennially bad set of end markets. Yet, Linde continues to deliver for shareholders each quarter. At some point, these markets are going to grow again, too. So, this is a stock that’s worth waiting for. Eli Lilly: We’re not trimming our Eli Lilly position despite its recent run. It was the Club’s third-besting performing name since August Monthly Meeting, bouncing back from a brutal sell-off earlier last month. Jim believes Lilly’s oral GLP-1s will be a game changer for the world’s most valuable drugmaker. Meta Platforms: We love this stock for its dominance in the advertising market. It helps that Meta is successfully using generative AI to do so, as well. “Sometimes I think that as long as there is advertising, we will have to own Meta,” Jim said. “It’s that good of a story.” Microsoft: Microsoft, like a Broadcom, is another attractive long-term investment. We may look to trim our position from time to time if its weighting gets too heavy. But all the reasons that we’ve owned the stock for years remain intact. Nvidia: Any consideration about whether it was time to pull the plug on owning Nvidia in favor of Advanced Micro Devices should be over now that Nvidia announced a partnership with Intel on CPUs for the data center. That should cap what AMD can accomplish in its bid to challenge Nvidia’s GPU leadership and grab additional CPU share from Intel. Palo Alto Networks: The Club’s other cybersecurity stock is never going to be cheap, just like with CrowdStrike. Palo Alto’s high price-to-earnings multiple is justified, though, as a clear leader in the highly attractive cybersecurity market. Starbucks: The coffee giant’s turnaround plan still looks promising under CEO Brian Niccol, who previously led Chipotle. Starbucks needs to revamp its in-store experience, and win back customers. “This one is going to be a terrific stock,” Jim said. TJX Companies: In Jim’s many years of owning the stock, this is the single strongest time for its earnings that he’s ever seen. In fact, he called TJX the best performer of the quarter in retail. The Marshalls owner sets itself apart with its great prices on clothes, home decor and more. Texas Roadhouse: All that matters with this stock right now is cattle futures. Futures have gone parabolic because the herd has been too small. Jim says these will break in price, and Texas Roadhouse shares will surge $200 apiece within weeks of that break. Wells Fargo: There are good things ahead for the bank. Management stepped up its buybacks, which we like. Plus, Wells Fargo is finally on the offense now that its long-standing $1.95 trillion asset cap has been removed. The firm’s push into fee-based businesses like investment banking is a great way to diversify the Wells’ bottom line. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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