Here’s our July rapid-fire update on all 33 stocks in Cramer’s Charitable Trust portfolio

Published Mon, Jul 11 20224:47 PM EDTUpdated Mon, Jul 11 20224:52 PM EDT

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. Jim Cramer ran through each one of them Monday during the July edition of our "Monthly Meeting." Apple (AAPL) — We rate Apple a 2 here, meaning we'd be buyers on a pullback , because we're concerned the iPhone maker's upcoming quarterly results may be a little weak. That said, there's been no change to our mantra "Own it, don't trade it." Abbvie (ABBV) — The biopharmaceutical firm has a big challenge ahead related to patent protections for its Humira drug . We prefer fellow Club holdings Johnson & Johnson and Eli Lilly over Abbvie. Advanced Micro Devices (AMD) — We're long the chip designer and staying long. While there's all sorts of concerns about a semiconductor slowdown, we believe AMD is exposed to the right secular growth stories like data center. Our investment in the company is a multi-year endeavor, not a quarter-to-quarter trade, so we view the stock's struggles this year as giving investors a more attractive entry point. Amazon (AMZN) — Amazon management is working to correct some of its overexpansion issues, which we like to see. If the stock goes a little lower, we're interested in buying back some of the Amazon we sold twice earlier this year on March 1 0 and April 6 . Both sales, which occurred before Amazon's 20-for-1 stock split went into effect, were well-timed; Amazon shares on Monday are considerably lower on a split-adjusted basis than they were when we trimmed the position. For members, we think it would be fine to buy some Amazon here around $112 per share and then wait. Bausch Health Companies (BHC) — We still have a 4 rating on the stock, meaning we need more information to resolve our considerable uncertainty before we buy or sell shares. It's pretty much been a steady stream of bad news for Bausch this year, although a board shakeup late last month was an incrementally positive development . Costco Wholesale (COST) — June sales showed strong growth, and in an exclusive interview with CNBC on Monday , CEO Craig Jelinek seemed confident that Costco's members are holding up well despite recession concerns. For members who want to start a position, we think it's probably prudent to wait for the stock to come in a little bit, perhaps in the $480-ish range, before making your first purchase then accumulating more over time. Salesforce (CRM) — Salesforce, the enterprise software company, has continued to perform well. Salesforce, the stock, has been a different story as high-growth tech fell out of favor with investors. However, Salesforce's most recent quarter was a blowout , and the company has amassed a sizable cash position. Cisco Systems (CSCO) — Unlike Salesforce, Cisco has been a bit of a disappointment, but the stock now carries at a dividend yield in the mid-3% range at its current price levels. For that reason, we're rather be buyers here than sellers. Coterra Energy (CTRA) — Coterra is one of the five energy stocks we now own as part of a strategy to hedge against inflation. That's because spiking crude oil and natural gas prices, albeit off their recent highs, are big drivers of inflation. We like Coterra, in particular, as a way to gain exposure to natural gas, plus the company has strong capital return program with a fixed-plus-variable dividend and buyback program in place. Chevron (CVX) — Chevron is another one of our energy plays, and we view the company as a leader in the oil industry. We know there's been recent weakness in oil stocks — but as noted above, we consider them a way to ensure our portfolio can benefit from further inflation. Danaher (DHR) — Danaher is a defensive stock. The life sciences firm gets the majority of its revenue from recurring customer purchases, insulating the company from wild swings tied to the economy. In other words, Danaher doesn't need robust economic growth to do well. Walt Disney (DIS) — For one reason or another, we think Disney has become among the most hated stocks on the Street. We struggle to understand it, even if we recognize there's work to do to repair its balance sheet from the ill-fated 21st Century Fox acquisition. That said, we believe the strength of Disney's franchises are unrivaled and not adequately reflected in its market valuation. Devon Energy (DVN) — Another energy stock. We like Devon for its mix of growth and great dividend, which also falls into the fixed-plus-variable payout model. Ford Motor (F) — Similar to Amazon, we made multiple sales of Ford shares this year at prices above where the stock currently trades. While it's making hefty investments in electric vehicles, Ford now trades at less than 6 times forward earnings. At just over $11 per share, the stock is close to levels where we'd want to start buying again. Alphabet (GOOGL) — We're keeping an eye on a bill in Congress that, if passed, would require Alphabet's Google to separate parts of its behemoth digital ad business . In our minds, the company is doing so well the only thing that can stop it is the federal government. Halliburton (HAL) — An oilfield services company, Halliburton is our energy stock that's a direct bet on an increased drilling activity. It's related to our belief that oil prices will be higher for longer given the mismatch between supply and demand. Honeywell International (HON) —Industrials have fallen out of favor on Wall Street for a number of reasons, and our exposure to the industry is light. However, we see Honeywell as a relatively safe way to play the aerospace industry. Humana (HUM) — The health insurer falls into the category of high-quality, defensive stocks. We recently sold a total of 75 shares across two transactions, moves made out of discipline because the stock was at new highs; we didn't want to be greedy. We like the company's 100% U.S. revenue exposure and its lack of interest rate sensitivity. Johnson & Johnson (JNJ) — J & J is splitting itself up into two companies, one focused on consumer products and the other with its pharmaceutical and medical device divisions. There's still a bit of time before that gets completed — J & J estimated 18 to 24 months in November — but we like the plan. Linde (LIN) — We regret not selling shares of the industrial gas giant when they were well above $300 apiece, so now we feel obligated to hold on. Eli Lilly (LLY) — We continue to like the company's innovation pipeline and, like many analysts, see the promise Lilly's new diabetes drug carries as a potential weight-loss treatment, too. Eli Lilly also falls into the category of high-quality, defensive. Meta Platforms (META) — We think the Facebook parent is a buy at its current levels. We are not betting against CEO Mark Zuckerberg, as he works to build out the metaverse while fending off competition from TikTok with the growth of Reels on Instagram and Facebook. The stock has fallen considerably this year, but now it trades at a historically low multiple that, to us, suggests a lot of the risk is already priced in. Marvell Technology (MRVL) — Of our four semiconductor companies, Marvell has the least consumer exposure in its end markets. That's important to note at a time when consumer end markets like PCs are expecting to see the most considerable slowdown. We like Marvell and its exposure to enterprise customers, evidenced by the fact we bought 100 more shares on Thursday . Morgan Stanley (MS) — It's one of our two financial stocks as we've reduced exposure to the industry. It is scheduled to release earnings Thursday , and while we can't predict how the results will turn out, we like the bank's recently announced $20 billion buyback program. It's one of reasons we've been buying shares this year on the way down including 50 additional shares last week. Microsoft (MSFT) — One of the best run tech companies in the world, Microsoft looks like a buy to us down here around $264 per share. Microsoft is buying back stock, has a pristine balance sheet and its main growth engine, its cloud business Azure, appears to still be doing well. Nvidia ( NVDA) — Like AMD, we continue to stay long Nvidia despite the struggles semi stocks have faced this year. For Club members who have owned NVDA throughout its drawdown, we think these current levels around $150 per share are not where you want to sell. We'd rather be buyers, believing it's advisable to start nibbling a little bit in this price range. Pioneer Natural Resources (PXD) — We like Pioneer as a buy here, picking up 15 shares Monday , after the stock's recent weakness related to a decline in the price of oil. However, we want to point out that even with West Texas Intermediate crude at around $100 per barrel, Pioneer is still generating a ton of cash that will be returned to shareholders. Procter & Gamble (PG) — We bought P & G earlier this year as we high-graded the portfolio. So far, the company has seemingly been able to pass through price hikes without consumers trading down to generics. While the strong dollar is a headwind , we expect organic sales growth to be solid. Qualcomm (QCOM) — China's unpredictable Covid policy has been a thorn in the side of Qualcomm shares, and the chip firm's revenue diversification strategy hasn't yet been rewarded by investors. The stock continues to trade at a low multiple, though, and time will tell if it's fallen enough to mark a bottom. Constellation Brands (STZ) — Like P & G, we initiated a position in Constellation as part of a high-grading strategy. Its portfolio of Mexican beer brands including Modelo and Corona are growing, and alcohol sales generally have been resilient during recessions. Constellation reported terrific quarterly earnings June 30 , and CEO Bill Newlands struck a confident tone on the near term . Wells Fargo (WFC) — Our other financial stock is set to report earnings Friday. While a slowdown in mortgage activity is a negative for Wells Fargo, management has given plenty of warning on the weakness. Plus, the Fed's interest rate hikes should help boost Wells Fargo's net interest income. Walmart (WMT) — Walmart is another stock that we wish we'd trimmed earlier this year, when shares of the big box retailer traded in the $150s. Wynn Resorts ( WYNN) — China's decision to continue trying to enforce its zero-Covid policy has hurt Wynn, which has two important resorts in the special administrative region of Macau. We've scaled back our position to just 200 shares, making it by far the smallest weighting in the portfolio. It could be a source of funds if we need additional cash to deploy in better investment opportunities. (See here for a full list of the stocks in Jim Cramer's Charitable Trust, which we use as the Club's portfolio.) 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.

Jim Cramer on Mad Money, June 14, 2022.

Scott Mlyn | CNBC

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. Jim Cramer ran through each one of them Monday during the July edition of our "Monthly Meeting."

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