Gunma Bank,Ltd.
- SEC CIK
- 0001549449
- Latest filing
- Nov 6, 2025
The latest 13F from Gunma Bank,Ltd. covers Q3 2025 (filed Nov 6, 2025): 31 long positions worth $319.4M. The top 10 holdings make up 60.0% of the portfolio, and the largest is iShares Tr at 8.8%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.
What changed in Q3 2025
Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.
- New
- 5
- Est. +$17.5M
- Added
- 11
- Est. +$37.4M
- Reduced
- 4
- Est. −$11.9M
- Sold out
- 4
- Est. −$36.0M
Top 5 holdings
Share of this quarter's portfolio value
- iShares Tr4642874408.8%$28.0M
- Vanguard Scottsdale FDS92206C7067.4%$23.7M
- iShares Tr4642874576.9%$22.0M
- iShares Tr4642886616.7%$21.5M
- iShares Trust iShares 0-1 Year Treasury Bond ETF4642886796.4%$20.4M
Share of portfolio
Top 5 holdings and the other 26 positions, by share of portfolio value
- iShares Tr8.8%
- Vanguard Scottsdale FDS7.4%
- iShares Tr6.9%
- iShares Tr6.7%
- iShares Trust iShares 0-1 Year Treasury Bond ETF6.4%
- Other 26 positions63.8%
Biggest buys
New and added positions, by estimated amount bought
- Vanguard Scottsdale FDS92206C409+$6.79MNew
- iShares Tr464288646+$5.30MAdded
- State Street SPDR Portfolio Intermediate Term Corporate Bond ETF78464A375+$5.08MAdded
- Vanguard Intermediate-Term Corporate Bond ETF92206C870+$5.05MAdded
- iShares Tr464287457+$4.98MAdded
Largest weight increases
New and added positions, by percentage points of the portfolio gained
- Vanguard Scottsdale FDS92206C409+2.13 pp0.0% → 2.1%
- iShares Tr464288646+1.56 pp2.7% → 4.3%
- State Street SPDR Portfolio Intermediate Term Corporate Bond ETF78464A375+1.50 pp2.7% → 4.2%
- Vanguard Intermediate-Term Corporate Bond ETF92206C870+1.49 pp3.4% → 4.9%
- Vanguard Utilities ETF92204A876+1.36 pp0.0% → 1.4%
Biggest sells
Reduced and sold-out positions, by estimated amount sold
- iShares Core S&P 500 ETF464287200−$13.0MSold out
- SPYSPDR S&P 500 ETF Trust
- iShares Inc464286103−$6.84MSold out
- SPDR Index Shs FDS78463X541−$3.80MSold out
- iShares Core Dividend Growth ETF46434V621−$3.42MReduced
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
- iShares Core S&P 500 ETF464287200−4.26 pp4.3% → 0.0%
- SPYSPDR S&P 500 ETF Trust
- iShares Inc464286103−2.23 pp2.2% → 0.0%
- SPDR Index Shs FDS78463X541−1.24 pp1.2% → 0.0%
- iShares Core Dividend Growth ETF46434V621−1.04 pp1.7% → 0.6%
Metrics
13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $319.4M
- +$13.1M (+4.3%) vs. prior quarter
- Positions
- 31
- +1 vs. prior quarter
- Top 10 concentration
- 60.0%
- Top 10 as share of value
- Turnover
- 15.3%
- Q3 2025, one quarter
- Average holding period
- 6.4 quarters
- Weighted by value
How these are calculated
- Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
- Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
- Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
- Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.
13F filings by quarter
19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $319.4M (Q3 2025)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q3 2025 | Nov 6, 2025 | 31 | $319.4M | iShares TrVanguard Scottsdale FDSiShares Tr | vs. Q2 2025 | SEC |
| Q2 2025 | Jul 15, 2025 | 30 | $306.3M | iShares TrVanguard Scottsdale FDSiShares Trust iShares 0-1 Year Treasury Bond ETF | vs. Q1 2025 | SEC |
| Q1 2025 | May 8, 2025 | 33 | $310.5M | iShares TrVanguard Scottsdale FDSiShares Trust iShares 0-1 Year Treasury Bond ETF | vs. Q4 2024 | SEC |
| Q4 2024 | Jan 29, 2025 | 33 | $302.8M | Vanguard Scottsdale FDSiShares TriShares Trust iShares 0-1 Year Treasury Bond ETF | vs. Q3 2024 | SEC |
| Q3 2024 | Nov 7, 2024 | 32 | $242.9M | iShares TriShares TrVanguard Scottsdale FDS | vs. Q2 2024 | SEC |
| Q2 2024 | Jul 24, 2024 | 22 | $120.0M | Invesco Exch Traded FD Tr IISchwab US Dividend Equity ETFVanguard Scottsdale FDS | vs. Q1 2024 | SEC |
| Q1 2024 | Apr 24, 2024 | 25 | $189.9M | iShares Select Dividend ETFiShares Core Dividend Growth ETFState Street Consumer Staples Select Sector SPDR ETF | vs. Q4 2023 | SEC |
| Q4 2023 | Jan 23, 2024 | 21 | $103.3M | Vanguard Real Estate ETFState Street Energy Select Sector SPDR ETFiShares Core High Dividend ETF | vs. Q3 2023 | SEC |
| Q3 2023 | Oct 26, 2023 | 27 | $137.2M | Vanguard Real Estate ETFiShares TrState Street Real Estate Select Sector SPDR ETF | vs. Q2 2023 | SEC |
| Q2 2023 | Jul 25, 2023 | 25 | $147.6M | Vanguard Real Estate ETFiShares TrState Street Real Estate Select Sector SPDR ETF | vs. Q1 2023 | SEC |
| Q1 2023 | Apr 20, 2023 | 40 | $227.3M | Vanguard Real Estate ETFiShares TrState Street Real Estate Select Sector SPDR ETF | vs. Q4 2022 | SEC |
| Q4 2022 | Jan 24, 2023 | 45 | $201.5M | Vanguard Real Estate ETFiShares TrState Street Real Estate Select Sector SPDR ETF | vs. Q3 2022 | SEC |
| Q3 2022 | Nov 10, 2022 | 44 | $163.8M | Vanguard Real Estate ETFiShares TrState Street Real Estate Select Sector SPDR ETF | vs. Q2 2022 | SEC |
| Q2 2022 | Jul 20, 2022 | 48 | $236.2M | Vanguard Real Estate ETFSPYState Street Technology Select Sector SPDR ETF | vs. Q1 2022 | SEC |
| Q1 2022 | Apr 22, 2022 | 8 | $42.2M | Vanguard Real Estate ETFiShares TriShares Tr | vs. Q4 2021 | SEC |
| Q4 2021 | Feb 14, 2022 | 43 | $114.3M | iShares IncState Street Real Estate Select Sector SPDR ETFVanguard Real Estate ETF | vs. Q3 2021 | SEC |
| Q3 2021 | Nov 10, 2021 | 42 | $180.4M | iShares InciShares TrVanguard Real Estate ETF | vs. Q2 2021 | SEC |
| Q2 2021 | Aug 5, 2021 | 45 | $151.3M | iShares InciShares TrVanguard Real Estate ETF | vs. Q1 2021 | SEC |
| Q1 2021 | May 12, 2021 | 36 | $175.0M | iShares Select U.S. REIT ETFiShares InciShares Tr | – | SEC |