Tesla Fame's Robot-Run ETF Sold Its Entire Apple Stake In August — Here's What It Bought

A large-cap-momentum-focused, AI-powered exchange-traded fund (ETF) sponsored by Qraft Technologies shed its entire Apple Inc. AAPL stake in August, according to an update on monthly holdings issued by the South Korea-based company.

What Happened: The QRAFT AI-Enhanced U.S. Large Cap Momentum ETF AMOM sold several of its tech holdings in September. The ETF's Apple holdings went from 7.9% in August to naught in September.

The ETF also liquidated its holdings in Eli Lilly & Company LLY, Qualcomm Inc. QCOM, Synopsys Inc. SNPS and Cadence Design Systems Inc. CDNS. Lilly and Qualcomm accounted for 4.5% and 2.8%, respectively, of the fund’s holdings in August, while Synopsys and Cadence made up 1.8% each.

This fund has, in the past, correctly predicted changes in the price of Tesla Inc. TSLA shares.

Incidentally, the broader market, led by tech stocks, turned around in mid-June and witnessed a mini-rally until early August before reversing course.

Significant additions to the fund included travel reservations and related services provider Booking Holding Inc. BKNG, computer networking company Arista Networks Inc. ANET, discount retailer Dollar Tree Inc. DLTR, fertilizer manufacturer Mosaic Company MOS and oil & gas producer Pioneer Natural Resources Co. PXD.

Following the portfolio shuffling, home improvement retailers Home Depot Inc. HD and Lowe’s Companies Inc. LOW were AMOM’s top holdings at 8.1% and 4.7%, respectively. Canadian Natural Resources Limited CNQ and ConocoPhillips COP 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 U.S. Large Cap ETF QRFT, at 3.3% in September, unchanged from the previous month. Insurer Unum Group UNM was added afresh to QRFT and it accounted for 1.9% of the portfolio.

QRFT trimmed its holdings of Microsoft Corporation MSFT from 3% to 2.5%, while it increased its bets on the Class B shares of Berkshire Hathaway Inc. BRKA BRKB from 1.3% to 1.7%. The fund’s positions in Alphabet Inc. GOOGL GOOG and Amazon Inc. AMZN were changed at 1.7% each.

Price Action: AMOM closed Thursday’s session at $26.08, up 0.68%, and QRFT gained 0.63% to $37.21, according to Benzinga Pro data. AMOM and QRFT have lost about 27% and 20%, respectively, for the year-to-date period. This compares to the 16% drop for the S&P 500 Index and the 24% pulled back by the Nasdaq Composite Index.