Managers / Q4 2023 · view latest →
Gunma Bank,Ltd.
CIK 0001549449 · 194,MOTOSOJAMACHI, MAEBASHI, GUNMA, M0, 371-8611 · 827-254-3737
Summary
Gunma Bank,Ltd. reported $103M in U.S.-listed holdings across 21 positions for Q4 2023.
The portfolio is heavily concentrated: HDV alone accounts for 33.8% of reported value.
Compared with Q3 2023, the fund opened 1 new position 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% · $103M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| XLVSELECT SECTOR SPDR TR | NEW | +27.0K | 27.0K | +$4M | $4M |
| XLESELECT SECTOR SPDR TR | ADDED | +56.0K | 88.0K | +$4M | $7M |
| DGROISHARES TR | ADDED | +55.0K | 95.0K | +$3M | $5M |
| XLRESELECT SECTOR SPDR TR | SOLD OUT | −230.0K | 0 | −$8M | $0 |
| SCHDSCHWAB STRATEGIC TR | SOLD OUT | −79.0K | 0 | −$6M | $0 |
| RWRSPDR SER TR | SOLD OUT | −55.0K | 0 | −$5M | $0 |
| SCHHSCHWAB STRATEGIC TR | SOLD OUT | −221.0K | 0 | −$4M | $0 |
| SCHVSCHWAB STRATEGIC TR | SOLD OUT | −55.0K | 0 | −$4M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | HDVISHARES TR | CORE HIGH DV ETF · SELECT DIVID ETF · CORE DIV GRWTH · GLOBAL REIT ETF · INTL SEL DIV ETF · U.S. REAL ES ETF · MSCI USA VALUE · CRE U S REIT ETF · COHEN STEER REIT | 33.79% | $35M | 610.5K |
| 2 | XLESELECT SECTOR SPDR TR | ENERGY · SBI INT-UTILS · SBI CONS STPLS · SBI HEALTHCARE | 23.42% | $24M | 310.0K |
| 3 | VPUVANGUARD WORLD FDS | UTILITIES ETF · ENERGY ETF | 12.41% | $13M | 101.0K |
| 4 | VNQVANGUARD INDEX FDS | REAL ESTATE ETF · VALUE ETF | 11.89% | $12M | 121.0K |
| 5 | VYMIVANGUARD WHITEHALL FDS | INTL HIGH ETF · HIGH DIV YLD | 10.31% | $11M | 129.0K |
| 6 | SPHDINVESCO EXCH TRADED FD TR IIhistory → | S&P500 HDL VOL | 5.34% | $6M | 130.0K |
| 7 | SPYDSPDR SER TRhistory → | PRTFLO S&P500 HI | 2.85% | $3M | 75.0K |
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 ↗ |
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 ↗.