bLong Financial Cuts EUFN Position By Around $5.6 Million, Shifts Focus Back to U.S.

bLong Financial, LLC significantly reduced its holdings in iShares MSCI Europe Financials ETF (NASDAQ:EUFN) during the quarter ended September 30, 2025. It sold 201,138 EUFN shares, and the value of its position fell by $5.6 million.

What happened

According to a Nov. 6 filing with the Securities and Exchange Commission (SEC), bLong Financial sold 201,138 shares of iShares MSCI Europe Financials ETF in Q3.

The fund held 283,936 EUFN shares valued at $9.75 million at quarter's end, down from $15.34 million in Q2. In Q2, EUFN accounted for 11.8% of its assets under management (AUM), but that figure has now fallen to 6.8%.

What else to know

The fund reported 76 total positions and $143.44 million in 13F reportable assets at the end of the third quarter.

Top holdings after the filing:

• Nvidia (NASDAQ:NVDA): $31.30 million (21.8% of AUM)
• Apple (NASDAQ: AAPL): $23.89 million (16.7% of AUM)
• iShares MSCI Europe Financials ETF: $9.75 million (6.8% of AUM)
• Fundstrat Granny Shots US Large Cap ETF (NYSEMKT:GRNY): $8.57 million (6.0% of AUM)
• Microsoft (NASDAQ:MSFT): $5.65 million (3.9% of AUM)

Company overview

As of December 1, 2025, EUFN shares were priced at $34.83, up 45.9% year-over-year. The ETF outperformed the S&P 500 by 33.2 percentage points over the year.

Data as of market close Nov. 5, 2025.

Company snapshot

iShares MSCI Europe Financials ETF offers targeted access to European markets through a diversified basket of equities. The fund contains large- and mid-sized European financial companies, weighted according to their market capitalization. The fund is closely aligned with the MSCI Europe Financials Index. With a substantial asset base and a 3.8% dividend yield, EUFN provides access to the European financials sector.

• Investment strategy: Seeks to track the performance of the MSCI Europe Financials Index. It provides exposure to developed European financial sector equities.
• Underlying holdings: The portfolio consists of financial companies across developed European markets, reflecting sector and country diversification.
• Expense ratio and structure: The fund is structured as an exchange-traded fund.

Foolish take

The iShares MSCI Europe Financials ETF is still bLong Financial's third-biggest holding, even after the sale. Nonetheless, it's a fairly significant move -- its position is worth 36% less quarter-on-quarter.

Given that EUFN has outperformed the S&P 500 and is currently close to its 52-week high, bLong could be taking profits. That's not uncommon after a strong run. In addition to realizing gains, bLong may want to rebalance its holdings.

It's worth noting that bLong re-opened its position in Fundstrat Granny Shots US Large Cap ETF. So-called because of the "granny shot" in basketball, the fund is focused on large U.S. equities that could perform well in the long term. bLong bought 343,105 GRNY shares in Q3, worth $8.57 million by the end of the quarter.

Earlier this year, several investment firms sought ways to globally diversify their holdings and reduce their exposure to the U.S. Notably, in Q1 2025, bLong opened a position in EUFN and closed its position in GRNY. It may now be turning at least some of that attention away from Europe and back towards U.S.

Glossary

13F reportable AUM: Assets under management that must be disclosed in quarterly SEC Form 13F filings by institutional investment managers.

ETF (Exchange-traded fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.

Quarter ended: The last day of a three-month financial reporting period used for performance and regulatory reporting.

Market capitalization-weighted: A method where holdings are weighted in proportion to each company's total market value.

Underlying holdings: The individual securities or assets that make up an investment fund or ETF.

Expense ratio: The annual fee expressed as a percentage of assets, covering a fund’s operating expenses.

Sector diversification: Investing across multiple industry sectors to reduce risk and exposure to any single sector.

Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.

Outperforming: Achieving a higher return compared to a specified benchmark or index over a given period.

Asset base: The total value of assets managed by a fund or investment vehicle.

Filing period: The specific time frame covered by a regulatory or financial disclosure document.

Emma Newbery has positions in Apple and Nvidia. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.