Jim Cramer identified five themes Wednesday that investors should watch out for in the first quarter, unveiling the concerns during his latest VIP monthly video-conference call with members of his Action Alerts PLUS club for investors. The second theme on his list concerns the pent-up supply of several big names looking to debut on the public markets. 

Specifically, the government shutdown that lasted 35 full days had more than just a chilling effect on the stock markets; it also put a pause on potential initial public offerings. And now that the government is back open for business, a glut of debuts could hurt established FANG stocks, according to Action Alerts PLUS portfolio manager Jim Cramer. 

The issue for Cramer is simply one of an increase of public company supply during a time when new money isn't likely to be funneled into the stock market. 

"[There's an] incredible amount of looming merchandise from the likes of Uber, which I suspect could actually be a $100 billion deal; GE Health Care, which I had hoped would be sold to a big company but is now looking to be an IPO that could be about the size of Danaher, a good comp, at $77 billion; WeWork, an exciting black hole of a company; cyber security company Palantir, which could pressure the stock of Palo Alto (PANW - Get Report) , which we will be discussing later," Cramer told viewers of his monthly AAP conference call. 

Cramer said that with all these companies coming to market, "you know there is no way this market can handle this level of supply without new money in and there won't be any." He added that others included "Airbnb, which could surprise in its size to some sort of $50 billion balloon; Lyft, not as daunting in size as Uber but still up there in exuberance; Doordash; Postmates; Reddit and a host of players to be named later."

Some names scheduled to debut in the coming months that Cramer did not mention include cybersecurity firm CrowdStrike, content cataloging app Pinterest and business messaging service Slack. 

With investors reluctant to put new money into this shaky market, Cramer sees the logical source for an infusion of capital being the market's most talked-about groups of stocks. 

"If you were to ask me what the single biggest worry I have going into the next two months might be, it would be this supply, this monumental tsunami of new stock that will have to be paid for by selling the FANGs as well, for that matter, as the cloud kings," Cramer said.

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