Here's a rapid-fire update on all 35 stocks in our portfolio — including 2 rating changes

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Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Jim ran through each name during our July Monthly Meeting on Wednesday. Apple (AAPL): It's not a bad time to buy the original "own it, don't trade it" stock. The App Store, a key driver of Apple's high-margin services revenue, is in good shape, and iPhone sales appear to be stable. Meanwhile, the Vision Pro headset is a spectacular piece of technology, but for now its steep price tag will limit adoption. Advanced Micro Devices (AMD): With second-quarter earnings set for Aug. 1, Jim said he's hesitant to recommend adding to AMD now. The last time AMD reported, in early May , weak guidance sent the chipmaker's stock tumbling, though it recovered not long after amid excitement around artificial intelligence. Amazon (AMZN): Investors who want to enlarge their Amazon position could buy some shares now, then buy more after the technology titan's quarterly release on July 27. This strategy makes sense, Jim said, because growth at cloud unit Amazon Web Services could reaccelerate sooner than expected, pushing the stock higher. Bausch Health (BHC): There are way too many unanswered near-term questions to buy troubled Bausch Health. But the pharmaceutical firm's ability to secure a $600 million loan from private-equity giant KKR is an encouraging sign, even as Xifaxan patent litigation remains a key overhang. Caterpillar (CAT): We trimmed some CAT on Monday following a fantastic run for the industrial giant. Caterpillar remains a core position and should continue to be bolstered by U.S. infrastructure spending. If the bears sour on the stock again and push down its price, we'll look to buy back some of the 30 shares we just sold. Costco Wholesale (COST): While Costco has been a steady performer this year, we're mindful that a pullback could be on the horizon, if the wholesale retailer were to report disappointing monthly sales, for example. That would be an opportunity to buy. Salesforce (CRM): The enterprise-software provider just announced its first increase to prices in seven years , sending its stock up nearly 4% Tuesday. At this point, with the market in overbought territory, Jim said investors should be patient and see if CRM shares give back any of those gains. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. The potential for natural-gas prices to rise as the colder winter months approach is a factor that could potentially bolster Coterra stock. Investors who don't already own any shares of the oil-and-gas firm could consider starting a position here, Jim said. Danaher (DHR): The usually reliable Danaher has disappointed of late, but the worst may be behind the life-sciences company, which cut full-year guidance in late April . We're not throwing in the towel. One good sign is that the market for initial public offerings is thawing and enabling biotech startups — important Danaher customers — to raise capital. The company's next earnings report, set to be released on July 25, should help us determine our next steps. Walt Disney (DIS): Disney's stock may remain stuck in the mud if upcoming quarterly results are weak, and Jim suspects that could be the case even if some green shoots emerge. This is a real tug-of-war situation as CEO Bob Iger tries to control costs and turn digital streaming into a money-making endeavor, while confronting the persistent decline in linear TV and ESPN. That said, we're encouraged by The Wall Street Journal's report that Disney is exploring strategic options for its India business . Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. It's unlikely that inventory challenges in the cosmetic firm's travel business — a big problem in its fiscal 2023 third quarter — are fully resolved, so we expect additional weakness in the fourth quarter. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. Emerson Electric (EMR): Emerson's acquisition of National Instruments appears to now be benefiting the stock. Over the past month, EMR is up about 10%, making it one of our better-performing stocks in that stretch. Still, it trades at a discount to rivals like Rockwell Automation (ROK). Jim said Emerson is a buy despite itself. Ford Motor (F): We're bullish on Ford's fundamental business and believe management's adjusted free-cash-flow target of $6 billion for 2023 is achievable. At the same time, a collective bargaining battle with the United Auto Workers union kicks off Wednesday , and it could become contentious. Jim said investors could buy some Ford stock now, then wait for more information on the union talks before taking further action. Foot Locker (FL): CEO Mary Dillon's turnaround strategy may require more time to pay off than initially expected, and additional obstacles could be encountered, including a dividend cut, Jim acknowledged. But we're betting Dillon's efforts eventually show up in Foot Locker's financials, as was the case with her impressive stint at Ulta Beauty (ULTA). GE Healthcare (GEHC): The company makes imaging agents and devices, such as an MRI machine, that Alzheimer's patients will need to take Biogen 's (BIIB) new drug for the memory-robbing disease. Club stock Eli Lilly has a similar one in development, too . Right now, the drugs aren't leading to a spike in demand for GEHC, but commercial success down the road could change that. Jim said investors who don't any own GEHC could buy some here. Alphabet (GOOGL): We're in a wait-and-see mode. While the stock is off 6% from its 2023 highs, it is still up 12% over the past three months. Jim said he has no desire to buy, or sell, any shares until we see what happens next with various regulatory matters , and whether cost-cutting measures lead to improved earnings power. Halliburton (HAL): The oil-services firm is the other stock we're downgrading to a 2. We've debated trimming some Halliburton after the hot-and-cold stock broke above our cost basis of $36.53 per share. At this point, though, we're going to wait to see if a pullback offers a better entry point, or if it continues its recent run higher and profits can be locked in at a better level. Honeywell International (HON): Newly installed CEO Vimal Kapur made a smart, but underappreciated, acquisition earlier this week. Honeywell bought Israel-based cybersecurity firm Scadafence , which helps defend large-scale manufacturing facilities. Nevertheless, we chose to book profits in HON on Wednesday , boosting our cash position to roughly 10% with the market overbought. Humana (HUM): It's best to wait before buying more Humana, which is facing multiple overhangs like elevated medical costs and worries around tougher government regulation. The next six months or so may not be kind to Humana. Johnson & Johnson (JNJ): Jim said he's fearful that jurors will rule against J & J in a California trial involving a 24-year-old who claims his mesothelioma was caused by childhood exposure to asbestos in the company's talc-based baby powder. However, Jim said if this trial goes in J & J's favor, that could help its efforts to win approval for a proposed $8.9 billion settlement for thousands of talc cases in bankruptcy proceedings. Linde (LIN): The industrial gas supplier has been another steady performer, setting a series of all-time highs throughout the year. The most recent one came on June 30, at roughly $381 per share, about $9 higher than where it was trading Wednesday. Investors should wait for a more substantial decline to buy LIN. Eli Lilly (LLY): Some negative headlines involving Lilly's diabetes-and-obesity drug rival, Novo Nordisk (NOVO), have also weighed on the Club holding. However, Jim said he remains confident that Lilly's Mounjaro will go on to be the best-selling drug of all time. He said panic that pushes down LLY works in long-term investors' favor. Meta Platforms (META): Meta has climbed more than 40% over the past three months, pushing its year-to-date gains north of 150%. This strength makes it tough to recommend buying ahead of second-quarter earnings, set for July 26. But, in any case, Meta's progress on its Reels video offering should help the company deliver quality results. Morgan Stanley (MS): The IPO comeback, while still in the early innings, would be great news for Morgan Stanley's suffering investment banking division. Then consider the stock's roughly 3.6% dividend yield and a solid share purchase program, and we feel okay holding onto this bank stock. Microsoft (MSFT): After gaining about 40% so far in 2023 on AI optimism, Microsoft could be due for a pullback. Jim said a decline of roughly 10% would make him comfortable recommending MSFT. Separately, Microsoft's purchase of Activision Blizzard (ATVI) may survive regulatory opposition , after all. Nvidia (NVDA): Similar to Microsoft, Jim said he'd like to see Nvidia shares fall by around 10% before recommending investors buy the dip. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings. Palo Alto Networks (PANW): With shares tumbling more than 6% Wednesday, cybersecurity leader Palo Alto is a buy. The stock is falling after Microsoft announced two new cybersecurity products . However, the magnitude of the selling strikes us as an overreaction. Pioneer Natural Resources (PXD): Pioneer's low oil breakevens enable the company to generate free cash flow even with softer crude prices. While the stock has rise more than 4% so far in July, investors would still be justified in buying some shares at current levels, around $216 each. But, Jim advised, save some dry powder in case the stock trades back around $200. Procter & Gamble (PG): We lightened up on P & G on July 5 , at around $152 per share. Our decision to trim was motivated by the stock's solid move higher, given fears over an impending U.S. recession seem to be losing steam. Starbucks (SBUX): The coffee chain has become a bit of a quandary. Its China story has been complicated by a slower-than-expected rebound in the world's No. 2 economy. And we'd like to see Laxman Narasimhan, who became CEO on March 20, adopt a more public-facing approach to better understand his vision. Constellation Brands (STZ): Shares of the maker of Corona beer have rallied amid the Bud Light controversy — up more than 11% over the past three months — and we don't want to let those gains slip away. So, we're ready to do some selling. Stanley Black & Decker (SWK): The toolmaker's stock has jumped more than 14% over the past month, to trade at nearly $97 per share Wednesday. We'd like to see the stock fall back into the low $90s before adding to our small position, which we initiated about a month ago . TJX Companies (TJX): TJX set a fresh 52-week high Wednesday, following an upgrade from Loop Capital , which now rates the off-price retailer a buy, up from hold. The firm boosted its price target to $95, from $75. Jim said he agrees with the call, and believes Loop's price target is achievable. Even if the U.S. avoids a recession, Jim said TJX's bargain-oriented ethos and quality merchandise should continue to appeal to consumers. Wells Fargo (WFC): The bank, which is set to report second-quarter earnings Friday , is operating in a tough industry environment, which may lead to muted upside for the stock in the near term. But the turnaround story is intact, making Wells Fargo the best of the banks to own right now. Wynn Resorts (WYNN): We've been waiting for Wynn shares to fall below $100 apiece for a few weeks, because we don't want to break our cost basis — even though we believe its operations in Las Vegas, Boston and the Chinese special administrative region of Macao are doing well. But the opportunity to augment our position in the casino giant hasn't presented itself yet. (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. CNBC Investing Club with Jim Cramer Rob Kim | NBCUniversal