He did have MO at one time, but sold it. Cramer has to worry more about headline risk than a small investor does because of the reputation of his show. He now prefers PM because of U.S. political risk to MO.
"most of what he recommends on tv isn't what he holds in his trust."
This is true. One reason is that Cramer has so many restrictions on trading for the Trust that, for example, he can never buy Apple because he is always talking about it or being asked about it. He has a tiny tiny position in Apple, despite being so enamoured of the stock and the company.