Gunma Bank,Ltd. 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ISHARES INC	MSCI AUST ETF	464286103	16,565	840,000	SH		SOLE		840,000	0	0
ISHARES TR	SELECT DIVID ETF	464287168	5,585	68,500	SH		SOLE		68,500	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	12,792	162,000	SH		SOLE		162,000	0	0
ISHARES TR	COHEN STEER REIT	464287564	16,322	160,000	SH		SOLE		160,000	0	0
ISHARES TR	U.S. REAL ES ETF	464287739	14,132	177,000	SH		SOLE		177,000	0	0
ISHARES TR	GLOBAL REIT ETF	46434V647	12,239	582,000	SH		SOLE		582,000	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	5,362	90,300	SH		SOLE		90,300	0	0
SPDR DOW JONES INDL AVERAGE	UT SER 1	78467X109	4,995	18,000	SH		SOLE		18,000	0	0
SPDR SP 500 ETF TR	TR UNIT	78462F103	5,023	15,000	SH		SOLE		15,000	0	0
VANGUARD WHITEHALL FDS	HIGH DIV YLD	921946406	4,791	59,200	SH		SOLE		59,200	0	0
ISHARES TR	CORE DIV GRWTH	46434V621	4,775	120,000	SH		SOLE		120,000	0	0
SCHWAB STRATEGIC TR	US DIVIDEND EQ	808524797	4,728	85,500	SH		SOLE		85,500	0	0
SPDR SER TR	SP DIVID ETF	78464A763	3,714	40,200	SH		SOLE		40,200	0	0
ISHARES TR	CORE HIGH DV ETF	46429B663	4,700	58,400	SH		SOLE		58,400	0	0
VANGUARD INDEX FDS	VALUE ETF	922908744	3,815	36,500	SH		SOLE		36,500	0	0
SPDR SER TR	PRTFLO SP500 VL	78464A508	2,854	94,500	SH		SOLE		94,500	0	0
SCHWAB STRATEGIC TR	US LCAP VA ETF	808524409	3,758	72,000	SH		SOLE		72,000	0	0