CKW FINANCIAL GROUP

HONOLULU, HI · CIK 1600403 · 13F filing filed 2023-10-19

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

$655.8m reported value -2.0% vs Q2 2023

215positions

92.9%in top 10

12 new 52 added 15 reduced 7 sold out vs Q2 2023

Holdings, Q3 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	707,435	$303.8m46.32%	46.32%	Added +19.6k	+19,645 2.9%
2	ISHARES TR CORE MSCI EAFE IEFA	IEFA	1,739,676	$111.9m17.07%	17.07%	Added +57.1k	+57,051 3.4%
3	ISHARES INC CORE MSCI EMKT IEMG	IEMG	912,457	$43.4m6.62%	6.62%	Added +28.9k	+28,898 3.3%
4	ISHARES TR CORE S&P MCP ETF IJH	IJH	157,158	$39.2m5.98%	5.98%	Added +2.2k	+2,163 1.4%
5	MCDONALDS CORP COM MCD	MCD	142,760	$37.6m5.73%	5.73%	Reduced -895	-895 -0.6%
6	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	518,061	$26.9m4.10%	4.10%	Added +10.8k	+10,805 2.1%
7	GOLDMAN SACHS ETF TR EQUAL WEIGHT US GSEW	GSEW	428,340	$25.6m3.90%	3.90%	Added +6.1k	+6,145 1.5%
8	ISHARES INC MSCI EMRG CHN EMXC	EMXC	240,825	$12.0m1.83%	1.83%	Added +4.5k	+4,469 1.9%
9	NVIDIA CORPORATION COM NVDA	NVDA	12,168	$5.3m0.81%	0.81%	Added +1	+1 0.0%
10	AMAZON COM INC COM AMZN	AMZN	29,848	$3.8m0.58%	0.58%	Added +60	+60 0.2%
11	MICROSOFT CORP COM MSFT	MSFT	10,738	$3.4m0.52%	0.52%	Added +415	+415 4.0%
12	MATSON INC COM MATX	MATX	35,911	$3.2m0.49%	0.49%	Unchanged
13	APPLE INC COM AAPL	AAPL	16,600	$2.8m0.43%	0.43%	Added +3	+3 0.0%
14	KRANESHARES TRUST MSCI EMG EX CH KEMX	KEMX	78,421	$2.0m0.31%	0.31%	Added +1.3k	+1,268 1.6%
15	VANGUARD INDEX FDS MID CAP ETF VO	VO	9,544	$2.0m0.30%	0.30%	Reduced -29.1k	-29,096 -75.3%
16	PIMCO ETF TR 0-5 HIGH YIELD HYS	HYS	19,058	$1.7m0.26%	0.26%	Added +9.7k	+9,737 104.5%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	13,070	$1.7m0.26%	0.26%	Unchanged
18	ISHARES TR MSCI ACWI ETF ACWI	ACWI	18,358	$1.7m0.26%	0.26%	Added +382	+382 2.1%
19	JPMORGAN CHASE & CO COM JPM	JPM	11,226	$1.6m0.25%	0.25%	Reduced -69	-69 -0.6%
20	ALPHABET INC CAP STK CL C GOOG	GOOG	11,400	$1.5m0.23%	0.23%	Reduced -400	-400 -3.4%
21	COSTCO WHSL CORP NEW COM COST	COST	2,565	$1.4m0.22%	0.22%	Unchanged
22	ISHARES TR JPMORGAN USD EMG EMB	EMB	16,464	$1.4m0.21%	0.21%	Added +10.1k	+10,056 156.9%
23	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	2,830	$1.0m0.15%	0.15%	Added +34	+34 1.2%
24	TOYOTA MOTOR CORP ADS TM	TM	4,523	$813.0k0.12%	0.12%	Unchanged
25	ABBVIE INC COM ABBV	ABBV	5,187	$773.0k0.12%	0.12%	Unchanged
26	JOHNSON & JOHNSON COM JNJ	JNJ	4,648	$724.0k0.11%	0.11%	Reduced -1.5k	-1,523 -24.7%
27	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	7,525	$718.0k0.11%	0.11%	Reduced -37	-37 -0.5%
28	ELI LILLY & CO COM LLY	LLY	1,302	$699.0k0.11%	0.11%	Unchanged
29	UNITED PARCEL SERVICE INC CL B UPS	UPS	4,301	$670.0k0.10%	0.10%	Unchanged
30	FIRST HAWAIIAN INC COM FHB	FHB	32,200	$581.0k0.09%	0.09%	Unchanged
31	BANK AMERICA CORP COM BAC	BAC	20,879	$572.0k0.09%	0.09%	Added +382	+382 1.9%
32	PROCTER AND GAMBLE CO COM PG	PG	3,847	$561.0k0.09%	0.09%	Unchanged
33	BANK HAWAII CORP COM BOH	BOH	7,949	$395.0k0.06%	0.06%	Added +1.4k	+1,421 21.8%
34	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	9,170	$376.0k0.06%	0.06%	Reduced -377	-377 -4.0%
35	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,923	$366.0k0.06%	0.06%	Reduced -2.6k	-2,627 -57.7%
36	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	1,025	$359.0k0.05%	0.05%	Unchanged
37	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	2,522	$354.0k0.05%	0.05%	Added +16	+16 0.6%
38	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	5,583	$329.0k0.05%	0.05%	Unchanged
39	WALMART INC COM WMT	WMT	2,019	$323.0k0.05%	0.05%	Unchanged
40	NIKE INC CL B NKE	NKE	3,350	$320.0k0.05%	0.05%	Added +1	+1 0.0%
41	OCCIDENTAL PETE CORP COM OXY	OXY	4,900	$318.0k0.05%	0.05%	Unchanged
42	ISHARES TR GRWT ALLOCAT ETF AOR	AOR	5,506	$272.0k0.04%	0.04%	Added +98	+98 1.8%
43	SANOFI SPONSORED ADR SNY	SNY	4,950	$266.0k0.04%	0.04%	Unchanged
44	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	619	$265.0k0.04%	0.04%	Added +82	+82 15.3%
45	WELLS FARGO CO NEW COM WFC	WFC	6,400	$262.0k0.04%	0.04%	Unchanged
46	GE AEROSPACE COM NEW GE	GE	2,208	$244.0k0.04%	0.04%	Added +36	+36 1.7%
47	TEXAS INSTRS INC COM TXN	TXN	1,505	$239.0k0.04%	0.04%	Unchanged
48	SCHWAB CHARLES CORP COM SCHW	SCHW	4,100	$225.0k0.03%	0.03%	Unchanged
49	TESLA INC COM TSLA	TSLA	880	$220.0k0.03%	0.03%	Unchanged
50	CHEVRON CORP NEW COM CVX	CVX	1,275	$215.0k0.03%	0.03%	Added +2	+2 0.2%
51	FISERV INC COM FISV	FISV	1,900	$215.0k0.03%	0.03%	Unchanged
52	FEDEX CORP COM FDX	FDX	800	$212.0k0.03%	0.03%	Unchanged
53	THE CIGNA GROUP COM CI	CI	725	$207.0k0.03%	0.03%	Added +100	+100 16.0%
54	MONSTER BEVERAGE CORP NEW COM MNST	MNST	3,600	$191.0k0.03%	0.03%	Unchanged
55	STARBUCKS CORP COM SBUX	SBUX	2,080	$190.0k0.03%	0.03%	Unchanged
56	METLIFE INC COM MET	MET	2,954	$186.0k0.03%	0.03%	Unchanged
57	CAPITAL ONE FINL CORP COM COF	COF	1,875	$182.0k0.03%	0.03%	Unchanged
58	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	400	$176.0k0.03%	0.03%	Unchanged
59	CORNING INC COM GLW	GLW	5,522	$168.0k0.03%	0.03%	Unchanged
60	COMCAST CORP NEW CL A CMCSA	CMCSA	3,700	$164.0k0.03%	0.03%	Unchanged
61	GILEAD SCIENCES INC COM GILD	GILD	2,000	$150.0k0.02%	0.02%	Unchanged
62	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,450	$149.0k0.02%	0.02%	Unchanged
63	CISCO SYS INC COM CSCO	CSCO	2,746	$148.0k0.02%	0.02%	Added +2	+2 0.1%
64	LAKELAND FINL CORP COM LKFN	LKFN	3,114	$148.0k0.02%	0.02%	New
65	GSK PLC SPONSORED ADR GSK	GSK	3,940	$143.0k0.02%	0.02%	Unchanged
66	VERIZON COMMUNICATIONS INC COM VZ	VZ	4,363	$141.0k0.02%	0.02%	Unchanged
67	HAWAIIAN ELEC INDUSTRIES COM HE	HE	11,345	$140.0k0.02%	0.02%	Added +11.1k	+11,107 4666.8%
68	RTX CORPORATION COM RTX	RTX	1,952	$140.0k0.02%	0.02%	Unchanged
69	JOHNSON CTLS INTL PLC SHS JCI	JCI	2,500	$133.0k0.02%	0.02%	Unchanged
70	FORD MTR CO COM F	F	10,219	$127.0k0.02%	0.02%	Added +66	+66 0.7%
71	BANK NEW YORK MELLON CORP COM BNY	BNY	2,900	$124.0k0.02%	0.02%	Unchanged
72	NOVARTIS AG SPONSORED ADR NVS	NVS	1,200	$122.0k0.02%	0.02%	Unchanged
73	ISHARES TR IBOXX HI YD ETF HYG	HYG	1,625	$120.0k0.02%	0.02%	Unchanged
74	CARRIER GLOBAL CORPORATION COM CARR	CARR	1,951	$108.0k0.02%	0.02%	Unchanged
75	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,756	$108.0k0.02%	0.02%	Unchanged
76	CVS HEALTH CORP COM CVS	CVS	1,506	$105.0k0.02%	0.02%	Added +856	+856 131.7%
77	FIDELITY NATL INFORMATION SV COM FIS	FIS	1,900	$105.0k0.02%	0.02%	Added +500	+500 35.7%
78	ADOBE INC COM ADBE	ADBE	200	$102.0k0.02%	0.02%	Unchanged
79	INTEL CORP COM INTC	INTC	2,834	$101.0k0.02%	0.02%	Reduced -50	-50 -1.7%
80	ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR BUD	BUD	1,800	$100.0k0.02%	0.02%	Added +400	+400 28.6%
81	HUBSPOT INC COM HUBS	HUBS	203	$100.0k0.02%	0.02%	Unchanged
82	BLACKROCK DEBT STRATEGIES FD COM NEW DSU	DSU	9,518	$98.0k0.01%	0.01%	Unchanged
83	GOLDMAN SACHS GROUP INC COM GS	GS	300	$97.0k0.01%	0.01%	Unchanged
84	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	1,921	$97.0k0.01%	0.01%	Unchanged
85	AFLAC INC COM AFL	AFL	1,210	$93.0k0.01%	0.01%	Unchanged
86	BOOKING HOLDINGS INC COM BKNG	BKNG	30	$93.0k0.01%	0.01%	Unchanged
87	GENTEX CORP COM GNTX	GNTX	2,786	$91.0k0.01%	0.01%	Added +5	+5 0.2%
88	REGENERON PHARMACEUTICALS COM REGN	REGN	110	$91.0k0.01%	0.01%	Unchanged
89	CONOCOPHILLIPS COM COP	COP	750	$90.0k0.01%	0.01%	Unchanged
90	BAKER HUGHES COMPANY CL A BKR	BKR	2,500	$88.0k0.01%	0.01%	Unchanged
91	DELL TECHNOLOGIES INC CL C DELL	DELL	1,282	$88.0k0.01%	0.01%	Reduced -200	-200 -13.5%
92	UNITEDHEALTH GROUP INC COM UNH	UNH	175	$88.0k0.01%	0.01%	Unchanged
93	HONDA MOTOR LTD ADR ECH CNV IN 3 HMC	HMC	2,600	$87.0k0.01%	0.01%	Unchanged
94	STATE STR CORP COM STT	STT	1,250	$84.0k0.01%	0.01%	Unchanged
95	COGNIZANT TECHNOLOGY SOLUTIO CL A CTSH	CTSH	1,200	$81.0k0.01%	0.01%	Unchanged
96	HP INC COM HPQ	HPQ	3,157	$81.0k0.01%	0.01%	Added +207	+207 7.0%
97	WILLIAMS COS INC COM WMB	WMB	2,400	$81.0k0.01%	0.01%	Unchanged
98	TRUIST FINL CORP COM TFC	TFC	2,800	$80.0k0.01%	0.01%	Added +1.6k	+1,600 133.3%
99	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	1,167	$79.0k0.01%	0.01%	Added +12	+12 1.0%
100	MAGNA INTL INC COM MGA	MGA	1,434	$77.0k0.01%	0.01%	Added +5	+5 0.3%

Sold out since Q2 2023

Security	Ticker	Shares held before	Value then
QUALCOMM INC QCOM	QCOM	3,576	$426.0k3.6k shares
MERCK & CO INC MRK	MRK	2,271	$262.0k2.3k shares
VMWARE INC VMW	VMW	1,562	$224.0k1.6k shares
HELIOGEN INC		347,043	$85.0k347.0k shares
SKYWORKS SOLUTIONS INC SWKS	SWKS	750	$83.0k750 shares
OCCIDENTAL PETE CORP OXY.WS	OXY.WS	687	$26.0k687 shares
ARCONIC CORPORATION		4	$04 shares