CKW FINANCIAL GROUP

HONOLULU, HI · CIK 1600403 · 13F filing filed 2023-07-18

SEC-registered investment adviser since 2009 · limited liability company

Assets managed$2.5bn
Staff7 · 2 in investment roles
Main clients (by assets)Pension plans 55%, High net worth individuals 29%, Companies 11%
Websiteckwhawaii.com
Form ADV · 2026-03-30SEC adviser record

$669.5m reported value +9.1% vs Q1 2023

210positions

93.0%in top 10

17 new 52 added 13 reduced 10 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ISHARES TR CORE S&P500 ETF IVV	IVV	687,790	$306.6m45.79%	45.79%	Reduced -36.8k	-36,760 -5.1%
2	ISHARES TR CORE MSCI EAFE IEFA	IEFA	1,682,625	$113.6m16.96%	16.96%	Reduced -101.3k	-101,340 -5.7%
3	ISHARES INC CORE MSCI EMKT IEMG	IEMG	883,559	$43.6m6.50%	6.50%	Reduced -275.0k	-274,960 -23.7%
4	MCDONALDS CORP COM MCD	MCD	143,655	$42.9m6.40%	6.40%	Unchanged
5	ISHARES TR CORE S&P MCP ETF IJH	IJH	154,995	$40.5m6.05%	6.05%	Reduced -186	-186 -0.1%
6	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	507,256	$27.6m4.12%	4.12%	New
7	GOLDMAN SACHS ETF TR EQUAL WEIGHT US GSEW	GSEW	422,195	$26.4m3.94%	3.94%	Reduced -51.4k	-51,437 -10.9%
8	ISHARES INC MSCI EMRG CHN EMXC	EMXC	236,356	$12.3m1.83%	1.83%	New
9	NVIDIA CORPORATION COM NVDA	NVDA	12,167	$5.1m0.77%	0.77%	Added +10.1k	+10,071 480.5%
10	AMAZON COM INC COM AMZN	AMZN	29,788	$3.9m0.58%	0.58%	Added +27.4k	+27,430 1163.3%
11	VANGUARD INDEX FDS MID CAP ETF VO	VO	38,640	$3.8m0.57%	0.57%	New
12	MICROSOFT CORP COM MSFT	MSFT	10,323	$3.5m0.52%	0.52%	Added +447	+447 4.5%
13	APPLE INC COM AAPL	AAPL	16,597	$3.2m0.48%	0.48%	Added +1.1k	+1,115 7.2%
14	MATSON INC COM MATX	MATX	35,911	$2.8m0.42%	0.42%	Added +1.3k	+1,295 3.7%
15	KRANESHARES TRUST MSCI EMG EX CH KEMX	KEMX	77,153	$2.1m0.31%	0.31%	New
16	ISHARES TR MSCI ACWI ETF ACWI	ACWI	17,976	$1.7m0.26%	0.26%	Added +166	+166 0.9%
17	JPMORGAN CHASE & CO COM JPM	JPM	11,295	$1.6m0.25%	0.25%	Added +408	+408 3.8%
18	ALPHABET INC CAP STK CL A GOOGL	GOOGL	13,070	$1.6m0.23%	0.23%	Added +11.6k	+11,550 759.9%
19	ALPHABET INC CAP STK CL C GOOG	GOOG	11,800	$1.4m0.21%	0.21%	Added +9.4k	+9,380 387.6%
20	COSTCO WHSL CORP NEW COM COST	COST	2,565	$1.4m0.21%	0.21%	Added +1.4k	+1,388 117.9%
21	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	2,796	$1.0m0.15%	0.15%	Added +2.7k	+2,726 3894.3%
22	JOHNSON & JOHNSON COM JNJ	JNJ	6,171	$1.0m0.15%	0.15%	Added +3.5k	+3,475 128.9%
23	PIMCO ETF TR 0-5 HIGH YIELD HYS	HYS	9,321	$850.0k0.13%	0.13%	Added +468	+468 5.3%
24	UNITED PARCEL SERVICE INC CL B UPS	UPS	4,301	$771.0k0.12%	0.12%	New
25	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	7,562	$741.0k0.11%	0.11%	Reduced -340	-340 -4.3%
26	TOYOTA MOTOR CORP ADS TM	TM	4,523	$727.0k0.11%	0.11%	Added +2	+2 0.0%
27	ABBVIE INC COM ABBV	ABBV	5,187	$699.0k0.10%	0.10%	Added +5.2k	+5,167 25835.0%
28	ELI LILLY & CO COM LLY	LLY	1,302	$611.0k0.09%	0.09%	Added +700	+700 116.3%
29	BANK AMERICA CORP COM BAC	BAC	20,497	$588.0k0.09%	0.09%	Unchanged
30	PROCTER AND GAMBLE CO COM PG	PG	3,847	$584.0k0.09%	0.09%	Added +3.2k	+3,244 538.0%
31	FIRST HAWAIIAN INC COM FHB	FHB	32,200	$580.0k0.09%	0.09%	Added +200	+200 0.6%
32	ISHARES TR JPMORGAN USD EMG EMB	EMB	6,408	$555.0k0.08%	0.08%	Reduced -416	-416 -6.1%
33	QUALCOMM INC COM QCOM	QCOM	3,576	$426.0k0.06%	0.06%	New
34	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	9,547	$396.0k0.06%	0.06%	Added +483	+483 5.3%
35	MARSH & MCLENNAN COS INC COM MRSH	MRSH	4,550	$385.0k0.06%	0.06%	Added +2.6k	+2,634 137.5%
36	NIKE INC CL B NKE	NKE	3,349	$370.0k0.06%	0.06%	Added +2	+2 0.1%
37	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	5,583	$365.0k0.05%	0.05%	New
38	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	1,025	$350.0k0.05%	0.05%	Unchanged
39	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	2,506	$335.0k0.05%	0.05%	Added +18	+18 0.7%
40	WALMART INC COM WMT	WMT	2,019	$317.0k0.05%	0.05%	Added +1.7k	+1,669 476.9%
41	OCCIDENTAL PETE CORP COM OXY	OXY	4,900	$288.0k0.04%	0.04%	Unchanged
42	ISHARES TR GRWT ALLOCAT ETF AOR	AOR	5,408	$278.0k0.04%	0.04%	Added +109	+109 2.1%
43	WELLS FARGO CO NEW COM WFC	WFC	6,400	$273.0k0.04%	0.04%	Unchanged
44	TEXAS INSTRS INC COM TXN	TXN	1,505	$271.0k0.04%	0.04%	Unchanged
45	BANK HAWAII CORP COM BOH	BOH	6,528	$269.0k0.04%	0.04%	Added +901	+901 16.0%
46	SANOFI SPONSORED ADR SNY	SNY	4,950	$267.0k0.04%	0.04%	Unchanged
47	MERCK & CO INC COM MRK	MRK	2,271	$262.0k0.04%	0.04%	New
48	FISERV INC COM FISV	FISV	1,900	$240.0k0.04%	0.04%	Unchanged
49	GE AEROSPACE COM NEW GE	GE	2,172	$239.0k0.04%	0.04%	Reduced -500	-500 -18.7%
50	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	537	$238.0k0.04%	0.04%	Added +5	+5 0.9%
51	SCHWAB CHARLES CORP COM SCHW	SCHW	4,100	$232.0k0.03%	0.03%	Unchanged
52	TESLA INC COM TSLA	TSLA	880	$230.0k0.03%	0.03%	Unchanged
53	VMWARE INC CL A COM VMW	VMW	1,562	$224.0k0.03%	0.03%	Unchanged
54	MONSTER BEVERAGE CORP NEW COM MNST	MNST	3,600	$207.0k0.03%	0.03%	Unchanged
55	STARBUCKS CORP COM SBUX	SBUX	2,080	$206.0k0.03%	0.03%	Unchanged
56	CAPITAL ONE FINL CORP COM COF	COF	1,875	$205.0k0.03%	0.03%	Unchanged
57	CHEVRON CORP NEW COM CVX	CVX	1,273	$200.0k0.03%	0.03%	Added +2	+2 0.2%
58	FEDEX CORP COM FDX	FDX	800	$198.0k0.03%	0.03%	Reduced -100	-100 -11.1%
59	CORNING INC COM GLW	GLW	5,522	$193.0k0.03%	0.03%	New
60	RTX CORPORATION COM RTX	RTX	1,952	$191.0k0.03%	0.03%	Added +1	+1 0.1%
61	THE CIGNA GROUP COM CI	CI	625	$175.0k0.03%	0.03%	Unchanged
62	JOHNSON CTLS INTL PLC SHS JCI	JCI	2,500	$170.0k0.03%	0.03%	Unchanged
63	METLIFE INC COM MET	MET	2,954	$167.0k0.02%	0.02%	Unchanged
64	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,450	$165.0k0.02%	0.02%	New
65	VERIZON COMMUNICATIONS INC COM VZ	VZ	4,363	$162.0k0.02%	0.02%	Unchanged
66	COMCAST CORP NEW CL A CMCSA	CMCSA	3,700	$154.0k0.02%	0.02%	Unchanged
67	FORD MTR CO COM F	F	10,153	$154.0k0.02%	0.02%	Added +63	+63 0.6%
68	GILEAD SCIENCES INC COM GILD	GILD	2,000	$154.0k0.02%	0.02%	Unchanged
69	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	400	$147.0k0.02%	0.02%	Unchanged
70	CISCO SYS INC COM CSCO	CSCO	2,744	$142.0k0.02%	0.02%	Added +2	+2 0.1%
71	GSK PLC SPONSORED ADR GSK	GSK	3,940	$140.0k0.02%	0.02%	Unchanged
72	BANK NEW YORK MELLON CORP COM BNY	BNY	2,900	$129.0k0.02%	0.02%	Unchanged
73	ISHARES TR IBOXX HI YD ETF HYG	HYG	1,625	$122.0k0.02%	0.02%	Unchanged
74	NOVARTIS AG SPONSORED ADR NVS	NVS	1,200	$121.0k0.02%	0.02%	Unchanged
75	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,756	$112.0k0.02%	0.02%	New
76	HUBSPOT INC COM HUBS	HUBS	203	$108.0k0.02%	0.02%	Unchanged
77	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	1,200	$108.0k0.02%	0.02%	Unchanged
78	MOLSON COORS BEVERAGE CO CL B TAP	TAP	1,550	$102.0k0.02%	0.02%	Unchanged
79	ADOBE INC COM ADBE	ADBE	200	$98.0k0.01%	0.01%	Unchanged
80	CARRIER GLOBAL CORPORATION COM CARR	CARR	1,951	$97.0k0.01%	0.01%	Unchanged
81	GOLDMAN SACHS GROUP INC COM GS	GS	300	$97.0k0.01%	0.01%	Unchanged
82	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	1,921	$97.0k0.01%	0.01%	Unchanged
83	INTEL CORP COM INTC	INTC	2,884	$96.0k0.01%	0.01%	Added +1	+1 0.0%
84	DISNEY WALT CO COM DIS	DIS	1,060	$95.0k0.01%	0.01%	Unchanged
85	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	1,155	$94.0k0.01%	0.01%	Added +267	+267 30.1%
86	BLACKROCK DEBT STRATEGIES FD COM NEW DSU	DSU	9,518	$93.0k0.01%	0.01%	Unchanged
87	HP INC COM HPQ	HPQ	2,950	$91.0k0.01%	0.01%	Unchanged
88	STATE STR CORP COM STT	STT	1,250	$91.0k0.01%	0.01%	Unchanged
89	NETFLIX INC COM NFLX	NFLX	200	$88.0k0.01%	0.01%	Unchanged
90	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	850	$86.0k0.01%	0.01%	Unchanged
91	HELIOGEN INC COMMON STOCK COMMON STOCK		347,043	$85.0k0.01%	0.01%	Unchanged
92	AFLAC INC COM AFL	AFL	1,210	$84.0k0.01%	0.01%	Unchanged
93	UNITEDHEALTH GROUP INC COM UNH	UNH	175	$84.0k0.01%	0.01%	Unchanged
94	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	600	$84.0k0.01%	0.01%	Unchanged
95	SKYWORKS SOLUTIONS INC COM SWKS	SWKS	750	$83.0k0.01%	0.01%	New
96	BOOKING HOLDINGS INC COM BKNG	BKNG	30	$81.0k0.01%	0.01%	Unchanged
97	GENTEX CORP COM GNTX	GNTX	2,781	$81.0k0.01%	0.01%	Added +6	+6 0.2%
98	MAGNA INTL INC COM MGA	MGA	1,429	$81.0k0.01%	0.01%	Added +6	+6 0.4%
99	DELL TECHNOLOGIES INC CL C DELL	DELL	1,482	$80.0k0.01%	0.01%	Unchanged
100	AT&T INC COM T	T	4,978	$79.0k0.01%	0.01%	Added +50	+50 1.0%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
ISHARES TR IUSV	IUSV	29,576	$2.2m29.6k shares
PUBMATIC INC PUBM	PUBM	2,915	$40.0k2.9k shares
ZSCALER INC ZS	ZS	105	$12.0k105 shares
PARTNER COMMUNICATIONS CO LT PTNR	PTNR	2,000	$9.0k2.0k shares
FULGENT GENETICS INC FLGT	FLGT	218	$7.0k218 shares
DIGITALOCEAN HLDGS INC DOCN	DOCN	150	$6.0k150 shares
SKILLZ INC		212	$3.0k212 shares
UNITY SOFTWARE INC U	U	81	$3.0k81 shares
TRAVELCENTERS OF AMERICA INC TA	TA	20	$2.0k20 shares
SVB FINANCIAL GROUP SIVB	SIVB	132	$0132 shares