A large-cap-momentum-focused, AI-powered exchange-traded fund (ETF) sponsored by Qraft Technologies shed its entire Apple Inc. (NASDAQ: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 (NYSE: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 (NYSE:LLY), Qualcomm Inc. (NASDAQ:QCOM), Synopsys Inc. (NASDAQ:SNPS) and Cadence Design Systems Inc. (NASDAQ: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. (NASDAQ: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. (NASDAQ:BKNG), computer networking company Arista Networks Inc. (NYSE:ANET), discount retailer Dollar Tree Inc. (NASDAQ:DLTR), fertilizer manufacturer Mosaic Company (NYSE:MOS) and oil & gas producer Pioneer Natural Resources Co. (NYSE:PXD).

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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.