Tesla Fame's Robot-Run ETF Removes Coca-Cola — Bets Big On This Electrical Solutions Provider

The QRAFT AI-Enhanced US Large Cap Momentum ETF AMOM has added electrical solutions provider Atkore Inc ATKR shares to its holdings during December, with the stock being the seventh-largest holding with a weight of 3.8%.

Atkore shares have gained over 21% in the last month. Shares of the company have been rallying after it reported fourth-quarter FY22 sales growth of 11.4% year-on-year to $1.03 billion, beating the consensus of $981.80 million.

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AMOM also added positions in Fair Isaac Corporation FICO and Gartner Inc IT during the month, according to information provided by the company. From a sectoral point of view, the ETF has added significantly to Information Technology and Industrials to its portfolio during the month.

Qraft, which was founded in South Korea in 2016, uses AI techniques, including machine learning and deep learning for its investment decision-making. The fund gained prominence with its bets on Tesla Inc via AMOM and correctly predicting changes in the trading prices of the stock. AMOM seeks to invest in U.S. large-cap momentum stocks by capitalizing on the movement of existing market trends.

Major Removals: Among names that were removed from the portfolio were Coca-Cola Co KO which previously formed 2.6% of the portfolio, AMN Healthcare Services, Inc. AMN, and Diamondback Energy Inc FANG. During the month, AMOM reduced allocation to the Materials and Healthcare sectors.

Top Holdings: Walmart Inc WMT and Exxon Mobil Corp XOM are the top holdings of the ETF as of December.

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Posted In: NewsSpecialty ETFsMarketsETFsbeveragesElectrical SolutionsQraft ETF
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