A large-cap momentum-focused, AI-powered exchange-traded fund (ETF) sponsored by Qraft Technologies shed all of it apple inc AAPL Holdings in August, according to a monthly holdings update issued by the South Korea-based company.
What happened: That QRAFT AI-Enhanced US Large Cap Momentum ETF A MOTHER sold several of its technology holdings in September. The ETF’s Apple holdings fell from 7.9% in August to zero in September.
The ETF also liquidated its holdings in Eli Lilly & Co LLY, Qualcomm Inc. QCOM, Synopsys Inc. SNPS and Cadence Design Systems Inc. CDNS. Lilly and Qualcomm made up 4.5% and 2.8% of the fund’s holdings, respectively, as of August, while Synopsys and Cadence each accounted for 1.8%.
This fund has historically correctly predicted price changes Tesla Inc. TSLA shares.
By the way, the broader market, led by tech stocks, turned around in mid-June and enjoyed a mini-rally until early August before reversing course.
Significant additions to the fund included travel reservations and related service providers Booking Holding Inc. BKNGComputer Networking Company Arista Networks Inc. A NETdiscounters Dollar Tree Inc. DLTRfertilizer manufacturer Company Mosaic MOS and oil and gas producer Pioneer Natural Resources Co. PXD.
After the portfolio realignment, DIY retailer Home Depot Inc. HD and Lowes Companies Inc. LOW were AMOM’s largest holdings at 8.1% and 4.7%, respectively. Canadian Natural Resources Limited CNQ and ConocoPhillips POLICE OFFICER made up 4% each.
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Apple still part of flagship fund: Apple was still the top holding of Qraft’s flagship QRAFT AI-Enhanced US Large Cap ETF QRFT, at 3.3% in September, unchanged from the previous month. insurer Unum group UNM QRFT was newly added and accounted for 1.9% of the portfolio.
QRFT reduced its holdings from Microsoft Corporation MSFT from 3% to 2.5% while increasing…
