Managers / Q1 2023 · view latest →
Gunma Bank,Ltd.
CIK 0001549449 · 194,MOTOSOJAMACHI, MAEBASHI, GUNMA, M0, 371-8611 · 827-254-3737
Summary
Gunma Bank,Ltd. reported $227M in U.S.-listed holdings across 40 positions for Q1 2023.
The portfolio is heavily concentrated: IYR alone accounts for 33.6% of reported value.
Compared with Q4 2022, the fund opened 2 new positions and exited 7.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ETP · 100.0% · $227M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SDYSPDR SER TR | NEW | +31.0K | 31.0K | +$4M | $4M |
| IVEISHARES TR | NEW | +12.0K | 12.0K | +$2M | $2M |
| XLESELECT SECTOR SPDR TR | ADDED | +61.0K | 76.0K | +$5M | $6M |
| IDVISHARES TR | ADDED | +166.0K | 216.0K | +$5M | $6M |
| VVVANGUARD INDEX FDS | ADDED | +25.0K | 35.0K | +$5M | $7M |
| VPUVANGUARD WORLD FDS | ADDED | +24.0K | 34.0K | +$3M | $5M |
| XLUSELECT SECTOR SPDR TR | ADDED | +52.0K | 100.0K | +$3M | $7M |
| VIGVANGUARD SPECIALIZED FUNDS | ADDED | +17.0K | 33.0K | +$3M | $5M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IYRISHARES TR | U.S. REAL ES ETF · GLOBAL REIT ETF · SELECT DIVID ETF · CORE HIGH DV ETF · CORE S&P TTL STK · RUS 1000 ETF · INTL SEL DIV ETF · CORE DIV GRWTH · MSCI USA VALUE · COHEN STEER REIT · CRE U S REIT ETF · CORE S&P500 ETF · S&P 500 VAL ETF | 33.58% | $76M | 1.32M |
| 2 | VNQVANGUARD INDEX FDS | REAL ESTATE ETF · LARGE CAP ETF · VALUE ETF · S&P 500 ETF SHS · TOTAL STK MKT | 15.20% | $35M | 283.0K |
| 3 | XLRESELECT SECTOR SPDR TR | RL EST SEL SEC · SBI INT-UTILS · ENERGY · SBI HEALTHCARE | 11.52% | $26M | 475.0K |
| 4 | SPYDSPDR SER TR | PRTFLO S&P500 HI · PORTFOLIO S&P500 · DJ REIT ETF · S&P DIVID ETF | 8.92% | $20M | 362.0K |
| 5 | SCHDSCHWAB STRATEGIC TR | US DIVIDEND EQ · US REIT ETF · US LCAP VA ETF | 5.94% | $13M | 349.0K |
| 6 | VDEVANGUARD WORLD FDS | ENERGY ETF · UTILITIES ETF | 5.05% | $11M | 90.5K |
| 7 | VYMIVANGUARD WHITEHALL FDS | INTL HIGH ETF · HIGH DIV YLD | 4.76% | $11M | 140.8K |
| 8 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 3.51% | $8M | 19.5K |
| 9 | QQQINVESCO QQQ TRhistory → | UNIT SER 1 | 2.68% | $6M | 19.0K |
| 10 | SPHDINVESCO EXCH TRADED FD TR IIhistory → | S&P500 HDL VOL | 2.51% | $6M | 135.0K |
| 11 | VIGVANGUARD SPECIALIZED FUNDShistory → | DIV APP ETF | 2.24% | $5M | 33.0K |
| 12 | NOBLPROSHARES TRhistory → | S&P 500 DV ARIST | 2.01% | $5M | 50.0K |
| 13 | VEAVANGUARD TAX-MANAGED FDShistory → | VAN FTSE DEV MKT | 1.39% | $3M | 70.0K |
| 14 | SPHQINVESCO EXCHANGE TRADED FD T | S&P500 QUALITY | 0.71% | $2M | 34.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2025 | $319M | 31 | Nov 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $306M | 30 | Jul 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $310M | 33 | May 8, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $303M | 33 | Jan 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $243M | 32 | Nov 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $120M | 22 | Jul 24, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $190M | 25 | Apr 24, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $103M | 21 | Jan 23, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $137M | 27 | Oct 26, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $148M | 25 | Jul 25, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $227M | 40 | Apr 20, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $201M | 45 | Jan 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $164M | 44 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $236M | 48 | Jul 20, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $42M | 8 | Apr 22, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $114M | 43 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $180M | 42 | Nov 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $151M | 45 | Aug 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $175M | 36 | May 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $110M | 16 | Feb 12, 2021 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2020 | $126M | 17 | Oct 28, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $97M | 13 | Jul 22, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $125M | 12 | May 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $105M | 9 | Feb 5, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $105M | 9 | Nov 7, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $101M | 9 | Aug 7, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $99M | 9 | May 10, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $87M | 9 | Feb 7, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.