CKW FINANCIAL GROUP

HONOLULU, HI · CIK 1600403 · 13F filing filed 2024-01-26

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

$720.0m reported value +9.8% vs Q3 2023

231positions

92.8%in top 10

23 new 37 added 39 reduced 7 sold out vs Q3 2023

Holdings, Q4 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	697,379	$333.1m46.26%	46.26%	Reduced -10.1k	-10,056 -1.4%
2	ISHARES TR CORE MSCI EAFE IEFA	IEFA	1,745,772	$122.8m17.06%	17.06%	Added +6.1k	+6,096 0.3%
3	ISHARES INC CORE MSCI EMKT IEMG	IEMG	915,721	$46.3m6.43%	6.43%	Added +3.3k	+3,264 0.4%
4	ISHARES TR CORE S&P MCP ETF IJH	IJH	156,491	$43.4m6.02%	6.02%	Reduced -667	-667 -0.4%
5	MCDONALDS CORP COM MCD	MCD	142,515	$42.3m5.87%	5.87%	Reduced -245	-245 -0.2%
6	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	517,797	$29.1m4.04%	4.04%	Reduced -264	-264 -0.1%
7	GOLDMAN SACHS ETF TR EQUAL WEIGHT US GSEW	GSEW	425,674	$28.5m3.96%	3.96%	Reduced -2.7k	-2,666 -0.6%
8	ISHARES INC MSCI EMRG CHN EMXC	EMXC	239,346	$13.3m1.84%	1.84%	Reduced -1.5k	-1,479 -0.6%
9	NVIDIA CORPORATION COM NVDA	NVDA	10,087	$5.0m0.69%	0.69%	Reduced -2.1k	-2,081 -17.1%
10	AMAZON COM INC COM AMZN	AMZN	29,873	$4.5m0.63%	0.63%	Added +25	+25 0.1%
11	MICROSOFT CORP COM MSFT	MSFT	10,540	$4.0m0.55%	0.55%	Reduced -198	-198 -1.8%
12	MATSON INC COM MATX	MATX	35,911	$3.9m0.55%	0.55%	Unchanged
13	APPLE INC COM AAPL	AAPL	15,594	$3.0m0.42%	0.42%	Reduced -1.0k	-1,006 -6.1%
14	KRANESHARES TRUST MSCI EMG EX CH KEMX	KEMX	78,218	$2.2m0.31%	0.31%	Reduced -203	-203 -0.3%
15	VANGUARD INDEX FDS MID CAP ETF VO	VO	9,532	$2.2m0.31%	0.31%	Reduced -12	-12 -0.1%
16	ISHARES TR MSCI ACWI ETF ACWI	ACWI	18,710	$1.9m0.26%	0.26%	Added +352	+352 1.9%
17	JPMORGAN CHASE & CO COM JPM	JPM	11,126	$1.9m0.26%	0.26%	Reduced -100	-100 -0.9%
18	ALPHABET INC CAP STK CL A GOOGL	GOOGL	13,070	$1.8m0.25%	0.25%	Unchanged
19	PIMCO ETF TR 0-5 HIGH YIELD HYS	HYS	19,115	$1.8m0.25%	0.25%	Added +57	+57 0.3%
20	COSTCO WHSL CORP NEW COM COST	COST	2,565	$1.7m0.24%	0.24%	Unchanged
21	ALPHABET INC CAP STK CL C GOOG	GOOG	11,200	$1.6m0.22%	0.22%	Reduced -200	-200 -1.8%
22	ISHARES TR JPMORGAN USD EMG EMB	EMB	16,770	$1.5m0.21%	0.21%	Added +306	+306 1.9%
23	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	2,825	$1.2m0.16%	0.16%	Reduced -5	-5 -0.2%
24	TOYOTA MOTOR CORP ADS TM	TM	4,515	$828.0k0.11%	0.11%	Reduced -8	-8 -0.2%
25	ABBVIE INC COM ABBV	ABBV	5,197	$805.0k0.11%	0.11%	Added +10	+10 0.2%
26	ELI LILLY & CO COM LLY	LLY	1,302	$759.0k0.11%	0.11%	Unchanged
27	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	7,495	$752.0k0.10%	0.10%	Reduced -30	-30 -0.4%
28	FIRST HAWAIIAN INC COM FHB	FHB	32,200	$736.0k0.10%	0.10%	Unchanged
29	JOHNSON & JOHNSON COM JNJ	JNJ	4,669	$732.0k0.10%	0.10%	Added +21	+21 0.5%
30	UNITED PARCEL SERVICE INC CL B UPS	UPS	4,301	$676.0k0.09%	0.09%	Unchanged
31	BANK AMERICA CORP COM BAC	BAC	19,769	$666.0k0.09%	0.09%	Reduced -1.1k	-1,110 -5.3%
32	PROCTER AND GAMBLE CO COM PG	PG	3,848	$564.0k0.08%	0.08%	Added +1	+1 0.0%
33	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	2,537	$415.0k0.06%	0.06%	Added +15	+15 0.6%
34	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	9,315	$393.0k0.05%	0.05%	Added +145	+145 1.6%
35	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	1,025	$366.0k0.05%	0.05%	Unchanged
36	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,927	$365.0k0.05%	0.05%	Added +4	+4 0.2%
37	NIKE INC CL B NKE	NKE	3,352	$364.0k0.05%	0.05%	Added +2	+2 0.1%
38	SELECT SECTOR SPDR TR SBI INT-UTILS XLU	XLU	5,583	$354.0k0.05%	0.05%	Unchanged
39	BANK HAWAII CORP COM BOH	BOH	4,635	$336.0k0.05%	0.05%	Reduced -3.3k	-3,314 -41.7%
40	WALMART INC COM WMT	WMT	2,019	$318.0k0.04%	0.04%	Unchanged
41	SCHWAB CHARLES CORP COM SCHW	SCHW	4,600	$316.0k0.04%	0.04%	Added +500	+500 12.2%
42	WELLS FARGO CO NEW COM WFC	WFC	6,400	$315.0k0.04%	0.04%	Unchanged
43	ALEXANDER & BALDWIN INC NEW COM ALEX	ALEX	15,861	$302.0k0.04%	0.04%	Added +13.6k	+13,557 588.4%
44	ISHARES TR GRWT ALLOCAT ETF AOR	AOR	5,592	$297.0k0.04%	0.04%	Added +86	+86 1.6%
45	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	625	$297.0k0.04%	0.04%	Added +6	+6 1.0%
46	OCCIDENTAL PETE CORP COM OXY	OXY	4,300	$257.0k0.04%	0.04%	Reduced -600	-600 -12.2%
47	TEXAS INSTRS INC COM TXN	TXN	1,505	$257.0k0.04%	0.04%	Unchanged
48	VANGUARD WHITEHALL FDS INTL HIGH ETF VYMI	VYMI	3,041	$254.0k0.04%	0.04%	New
49	FISERV INC COM FISV	FISV	1,900	$252.0k0.03%	0.03%	Unchanged
50	SANOFI SPONSORED ADR SNY	SNY	4,950	$246.0k0.03%	0.03%	Unchanged
51	THE CIGNA GROUP COM CI	CI	725	$217.0k0.03%	0.03%	Unchanged
52	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,450	$214.0k0.03%	0.03%	Unchanged
53	GE AEROSPACE COM NEW GE	GE	1,677	$214.0k0.03%	0.03%	Reduced -531	-531 -24.1%
54	MONSTER BEVERAGE CORP NEW COM MNST	MNST	3,600	$207.0k0.03%	0.03%	Unchanged
55	LAKELAND FINL CORP COM LKFN	LKFN	3,133	$204.0k0.03%	0.03%	Added +19	+19 0.6%
56	FEDEX CORP COM FDX	FDX	800	$202.0k0.03%	0.03%	Unchanged
57	STARBUCKS CORP COM SBUX	SBUX	2,080	$200.0k0.03%	0.03%	Unchanged
58	RTX CORPORATION COM RTX	RTX	2,352	$198.0k0.03%	0.03%	Added +400	+400 20.5%
59	METLIFE INC COM MET	MET	2,954	$195.0k0.03%	0.03%	Unchanged
60	CHEVRON CORP NEW COM CVX	CVX	1,278	$191.0k0.03%	0.03%	Added +3	+3 0.2%
61	CAPITAL ONE FINL CORP COM COF	COF	1,375	$180.0k0.02%	0.02%	Reduced -500	-500 -26.7%
62	CORNING INC COM GLW	GLW	5,522	$168.0k0.02%	0.02%	Unchanged
63	VERIZON COMMUNICATIONS INC COM VZ	VZ	4,363	$164.0k0.02%	0.02%	Unchanged
64	COMCAST CORP NEW CL A CMCSA	CMCSA	3,700	$162.0k0.02%	0.02%	Unchanged
65	GILEAD SCIENCES INC COM GILD	GILD	2,000	$162.0k0.02%	0.02%	Unchanged
66	HAWAIIAN ELEC INDUSTRIES COM HE	HE	11,339	$161.0k0.02%	0.02%	Reduced -6	-6 -0.1%
67	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	400	$155.0k0.02%	0.02%	Unchanged
68	BANK NEW YORK MELLON CORP COM BNY	BNY	2,900	$151.0k0.02%	0.02%	Unchanged
69	GSK PLC SPONSORED ADR GSK	GSK	3,940	$146.0k0.02%	0.02%	Unchanged
70	TESLA INC COM TSLA	TSLA	580	$144.0k0.02%	0.02%	Reduced -300	-300 -34.1%
71	JOHNSON CTLS INTL PLC SHS JCI	JCI	2,500	$144.0k0.02%	0.02%	Unchanged
72	INTEL CORP COM INTC	INTC	2,834	$142.0k0.02%	0.02%	Unchanged
73	EXXON MOBIL CORP COM XOM	XOM	1,275	$127.0k0.02%	0.02%	Added +708	+708 124.9%
74	FORD MTR CO COM F	F	10,295	$126.0k0.02%	0.02%	Added +76	+76 0.7%
75	ISHARES TR IBOXX HI YD ETF HYG	HYG	1,625	$126.0k0.02%	0.02%	Unchanged
76	CVS HEALTH CORP COM CVS	CVS	1,506	$119.0k0.02%	0.02%	Unchanged
77	HUBSPOT INC COM HUBS	HUBS	203	$118.0k0.02%	0.02%	Unchanged
78	ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR BUD	BUD	1,800	$116.0k0.02%	0.02%	Unchanged
79	GOLDMAN SACHS GROUP INC COM GS	GS	300	$116.0k0.02%	0.02%	Unchanged
80	FIDELITY NATL INFORMATION SV COM FIS	FIS	1,900	$114.0k0.02%	0.02%	Unchanged
81	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,756	$113.0k0.02%	0.02%	Unchanged
82	CARRIER GLOBAL CORPORATION COM CARR	CARR	1,951	$112.0k0.02%	0.02%	Unchanged
83	BOOKING HOLDINGS INC COM BKNG	BKNG	30	$106.0k0.01%	0.01%	Unchanged
84	BLACKROCK DEBT STRATEGIES FD COM NEW DSU	DSU	9,518	$103.0k0.01%	0.01%	Unchanged
85	TRUIST FINL CORP COM TFC	TFC	2,800	$103.0k0.01%	0.01%	Unchanged
86	AFLAC INC COM AFL	AFL	1,210	$100.0k0.01%	0.01%	Unchanged
87	CISCO SYS INC COM CSCO	CSCO	1,947	$98.0k0.01%	0.01%	Reduced -799	-799 -29.1%
88	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	1,921	$97.0k0.01%	0.01%	Unchanged
89	NETFLIX INC COM NFLX	NFLX	200	$97.0k0.01%	0.01%	Unchanged
90	REGENERON PHARMACEUTICALS COM REGN	REGN	110	$97.0k0.01%	0.01%	Unchanged
91	STATE STR CORP COM STT	STT	1,250	$97.0k0.01%	0.01%	Unchanged
92	HP INC COM HPQ	HPQ	3,157	$95.0k0.01%	0.01%	Unchanged
93	NORFOLK SOUTHN CORP COM NSC	NSC	400	$95.0k0.01%	0.01%	Added +100	+100 33.3%
94	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	1,220	$95.0k0.01%	0.01%	Unchanged
95	UNITEDHEALTH GROUP INC COM UNH	UNH	175	$92.0k0.01%	0.01%	Unchanged
96	COGNIZANT TECHNOLOGY SOLUTIO CL A CTSH	CTSH	1,200	$91.0k0.01%	0.01%	Unchanged
97	GENTEX CORP COM GNTX	GNTX	2,792	$91.0k0.01%	0.01%	Added +6	+6 0.2%
98	T-MOBILE US INC COM TMUS	TMUS	550	$88.0k0.01%	0.01%	Unchanged
99	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	850	$88.0k0.01%	0.01%	Unchanged
100	CITIGROUP INC COM NEW C	C	1,700	$87.0k0.01%	0.01%	Unchanged

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
XOS INC		149,608	$51.0k149.6k shares
AEGON N V		5,900	$28.0k5.9k shares
ENBRIDGE INC ENB	ENB	275	$9.0k275 shares
LINCOLN NATL CORP IND LNC	LNC	200	$5.0k200 shares
TELEFONAKTIEBOLAGET LM ERICS ERIC	ERIC	390	$2.0k390 shares
HAWAIIAN HOLDINGS INC HAGBP	HAGBP	200	$1.0k200 shares
SUNOPTA INC STKL	STKL	100	$0100 shares