CKW FINANCIAL GROUP

HONOLULU, HI · CIK 1600403 · 13F filing filed 2025-05-16

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

$800.2m reported value -1.5% vs Q4 2024

196positions

94.9%in top 10

15 new 38 added 35 reduced 69 sold out vs Q4 2024

Holdings, Q1 2025

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	671,159	$378.4m47.29%	47.29%	Reduced -2.6k	-2,621 -0.4%
2	ISHARES TR CORE MSCI EAFE IEFA	IEFA	2,179,618	$165.3m20.66%	20.66%	Added +50.3k	+50,271 2.4%
3	ISHARES TR CORE S&P MCP ETF IJH	IJH	850,083	$49.9m6.23%	6.23%	Added +34.1k	+34,074 4.2%
4	MCDONALDS CORP COM MCD	MCD	141,540	$44.4m5.55%	5.55%	Added +6.0k	+6,000 4.4%
5	ISHARES INC CORE MSCI EMKT IEMG	IEMG	696,780	$37.8m4.72%	4.72%	Added +8.4k	+8,364 1.2%
6	GOLDMAN SACHS ETF TR EQUAL WEIGHT US GSEW	GSEW	476,758	$36.4m4.54%	4.54%	Added +14.5k	+14,478 3.1%
7	ISHARES INC MSCI EMRG CHN EMXC	EMXC	450,089	$24.9m3.12%	3.12%	Added +22.8k	+22,830 5.3%
8	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	191,402	$11.6m1.46%	1.46%	Added +8.4k	+8,415 4.6%
9	NVIDIA CORPORATION COM NVDA	NVDA	56,220	$6.2m0.77%	0.77%	Reduced -6.6k	-6,580 -10.5%
10	MATSON INC COM MATX	MATX	36,251	$4.8m0.59%	0.59%	Unchanged
11	AMAZON COM INC COM AMZN	AMZN	22,458	$4.3m0.54%	0.54%	Reduced -3.5k	-3,500 -13.5%
12	VANGUARD SCOTTSDALE FDS VNG RUS1000GRW VONG	VONG	42,614	$4.0m0.50%	0.50%	Added +33	+33 0.1%
13	MICROSOFT CORP COM MSFT	MSFT	9,612	$3.7m0.46%	0.46%	Reduced -904	-904 -8.6%
14	APPLE INC COM AAPL	AAPL	16,332	$3.6m0.46%	0.46%	Reduced -1.3k	-1,309 -7.4%
15	JPMORGAN CHASE & CO COM JPM	JPM	10,430	$2.5m0.32%	0.32%	Added +343	+343 3.4%
16	ISHARES TR MSCI ACWI ETF ACWI	ACWI	20,679	$2.4m0.30%	0.30%	Added +987	+987 5.0%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	10,401	$1.6m0.20%	0.20%	Reduced -599	-599 -5.5%
18	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	2,681	$1.4m0.18%	0.18%	Added +15	+15 0.6%
19	ALPHABET INC CAP STK CL C GOOG	GOOG	6,930	$1.1m0.14%	0.14%	Reduced -900	-900 -11.5%
20	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,796	$1.0m0.13%	0.13%	Added +1.0k	+1,025 132.9%
21	COSTCO WHSL CORP NEW COM COST	COST	1,022	$975.0k0.12%	0.12%	Reduced -1.4k	-1,388 -57.6%
22	FIRST HAWAIIAN INC COM FHB	FHB	32,600	$790.0k0.10%	0.10%	Unchanged
23	TOYOTA MOTOR CORP ADS TM	TM	4,518	$788.0k0.10%	0.10%	Unchanged
24	BANK AMERICA CORP COM BAC	BAC	16,182	$671.0k0.08%	0.08%	Reduced -2.7k	-2,708 -14.3%
25	JOHNSON & JOHNSON COM JNJ	JNJ	4,157	$637.0k0.08%	0.08%	Added +16	+16 0.4%
26	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	5,067	$590.0k0.07%	0.07%	Reduced -43	-43 -0.8%
27	LINDE PLC SHS LIN	LIN	1,213	$567.0k0.07%	0.07%	Unchanged
28	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,938	$485.0k0.06%	0.06%	Added +6	+6 0.3%
29	ELI LILLY & CO COM LLY	LLY	602	$485.0k0.06%	0.06%	Reduced -700	-700 -53.8%
30	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,944	$474.0k0.06%	0.06%	Added +3	+3 0.1%
31	PIMCO ETF TR 0-5 HIGH YIELD HYS	HYS	4,209	$393.0k0.05%	0.05%	Reduced -15.2k	-15,216 -78.3%
32	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	8,870	$376.0k0.05%	0.05%	Reduced -177	-177 -2.0%
33	ALEXANDER & BALDWIN INC NEW COM ALEX	ALEX	18,976	$332.0k0.04%	0.04%	Unchanged
34	TEXAS INSTRS INC COM TXN	TXN	1,605	$286.0k0.04%	0.04%	Unchanged
35	SIMON PPTY GROUP INC NEW COM SPG	SPG	1,677	$279.0k0.03%	0.03%	New
36	VERIZON COMMUNICATIONS INC COM VZ	VZ	5,205	$236.0k0.03%	0.03%	Unchanged
37	GE AEROSPACE COM NEW GE	GE	1,110	$226.0k0.03%	0.03%	Reduced -800	-800 -41.9%
38	NIKE INC CL B NKE	NKE	3,366	$218.0k0.03%	0.03%	Added +6	+6 0.2%
39	CHEVRON CORP NEW COM CVX	CVX	1,290	$217.0k0.03%	0.03%	Added +2	+2 0.2%
40	MONSTER BEVERAGE CORP NEW COM MNST	MNST	3,600	$213.0k0.03%	0.03%	Unchanged
41	STARBUCKS CORP COM SBUX	SBUX	2,080	$204.0k0.03%	0.03%	Unchanged
42	PROCTER AND GAMBLE CO COM PG	PG	1,108	$189.0k0.02%	0.02%	Unchanged
43	NETFLIX INC COM NFLX	NFLX	200	$186.0k0.02%	0.02%	Unchanged
44	OCCIDENTAL PETE CORP COM OXY	OXY	3,605	$177.0k0.02%	0.02%	Reduced -3.6k	-3,568 -49.7%
45	BANK HAWAII CORP COM BOH	BOH	2,506	$172.0k0.02%	0.02%	Reduced -1	-1 -0.0%
46	META PLATFORMS INC CL A META	META	277	$162.0k0.02%	0.02%	Reduced -200	-200 -41.9%
47	TESLA INC COM TSLA	TSLA	600	$161.0k0.02%	0.02%	Unchanged
48	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	1,637	$160.0k0.02%	0.02%	Unchanged
49	EXXON MOBIL CORP COM XOM	XOM	1,309	$156.0k0.02%	0.02%	Added +7	+7 0.5%
50	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,425	$146.0k0.02%	0.02%	Unchanged
51	AT&T INC COM T	T	5,028	$143.0k0.02%	0.02%	Reduced -182	-182 -3.5%
52	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	850	$143.0k0.02%	0.02%	Unchanged
53	AFLAC INC COM AFL	AFL	1,210	$136.0k0.02%	0.02%	Unchanged
54	INTEL CORP COM INTC	INTC	6,002	$132.0k0.02%	0.02%	Unchanged
55	HAWAIIAN ELEC INDUSTRIES COM HE	HE	11,578	$127.0k0.02%	0.02%	Reduced -1	-1 -0.0%
56	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,770	$126.0k0.02%	0.02%	Unchanged
57	HUBSPOT INC COM HUBS	HUBS	203	$118.0k0.01%	0.01%	Unchanged
58	FORD MTR CO COM F	F	11,054	$110.0k0.01%	0.01%	Added +185	+185 1.7%
59	CENTRAL PAC FINL CORP COM NEW CPF	CPF	4,022	$109.0k0.01%	0.01%	Added +1.2k	+1,168 40.9%
60	CITIGROUP INC COM NEW C	C	1,500	$106.0k0.01%	0.01%	Unchanged
61	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	201	$95.0k0.01%	0.01%	Reduced -5	-5 -2.4%
62	ALLSTATE CORP COM ALL	ALL	450	$93.0k0.01%	0.01%	Unchanged
63	WALMART INC COM WMT	WMT	1,050	$93.0k0.01%	0.01%	Reduced -5.3k	-5,307 -83.5%
64	TRAVELERS COMPANIES INC COM TRV	TRV	344	$91.0k0.01%	0.01%	New
65	GE VERNOVA INC COM GEV	GEV	276	$87.0k0.01%	0.01%	Unchanged
66	ISHARES TR IBOXX HI YD ETF HYG	HYG	1,040	$82.0k0.01%	0.01%	Unchanged
67	BLACKROCK DEBT STRATEGIES FD COM NEW DSU	DSU	7,711	$80.0k0.01%	0.01%	Unchanged
68	ISHARES TR GRWT ALLOCAT ETF AOR	AOR	1,360	$79.0k0.01%	0.01%	Added +104	+104 8.3%
69	ISHARES TR U.S. TECH ETF IYW	IYW	540	$77.0k0.01%	0.01%	Unchanged
70	CARRIER GLOBAL CORPORATION COM CARR	CARR	1,102	$70.0k0.01%	0.01%	Reduced -850	-850 -43.5%
71	GENTEX CORP COM GNTX	GNTX	2,819	$66.0k0.01%	0.01%	Added +6	+6 0.2%
72	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	1,282	$65.0k0.01%	0.01%	Unchanged
73	CORTEVA INC COM CTVA	CTVA	990	$63.0k0.01%	0.01%	Added +1	+1 0.1%
74	MODINE MFG CO COM MOD	MOD	750	$60.0k0.01%	0.01%	Unchanged
75	DUPONT DE NEMOURS INC COM DWDP	DWDP	763	$57.0k0.01%	0.01%	Added +2	+2 0.3%
76	ISHARES TR AGGRES ALLOC ETF AOA	AOA	747	$57.0k0.01%	0.01%	Added +9	+9 1.2%
77	ONEMEDNET CORP CL A CL A		100,000	$55.0k0.01%	0.01%	Reduced -938	-938 -0.9%
78	BROADCOM INC COM AVGO	AVGO	300	$51.0k0.01%	0.01%	Unchanged
79	DELL TECHNOLOGIES INC CL C DELL	DELL	541	$50.0k0.01%	0.01%	Unchanged
80	MAGNA INTL INC COM MGA	MGA	1,474	$50.0k0.01%	0.01%	Added +9	+9 0.6%
81	PFIZER INC COM PFE	PFE	2,050	$50.0k0.01%	0.01%	Added +1.1k	+1,144 126.3%
82	VISA INC COM CL A V	V	125	$43.0k0.01%	0.01%	Unchanged
83	BOEING CO COM BA	BA	250	$42.0k0.01%	0.01%	Unchanged
84	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	121	$41.0k0.01%	0.01%	Added +1	+1 0.8%
85	FREEPORT-MCMORAN INC CL B FCX	FCX	1,052	$40.0k0.00%	0.00%	New
86	ISHARES TR MSCI EAFE MIN VL EFAV	EFAV	500	$39.0k0.00%	0.00%	Unchanged
87	ADOBE INC COM ADBE	ADBE	100	$38.0k0.00%	0.00%	Unchanged
88	AMGEN INC COM AMGN	AMGN	125	$38.0k0.00%	0.00%	Added +1	+1 0.8%
89	DUKE ENERGY CORP NEW COM NEW DUK	DUK	288	$35.0k0.00%	0.00%	Unchanged
90	BLACKSTONE SECD LENDING FD COMMON STOCK BXSL	BXSL	1,000	$33.0k0.00%	0.00%	Unchanged
91	CISCO SYS INC COM CSCO	CSCO	517	$32.0k0.00%	0.00%	Reduced -1.3k	-1,338 -72.1%
92	DISNEY WALT CO COM DIS	DIS	317	$31.0k0.00%	0.00%	Added +57	+57 21.9%
93	TERRITORIAL BANCORP INC COM TBNK	TBNK	3,612	$30.0k0.00%	0.00%	Unchanged
94	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	358	$28.0k0.00%	0.00%	Reduced -800	-800 -69.1%
95	HP INC COM HPQ	HPQ	1,020	$28.0k0.00%	0.00%	Reduced -2.0k	-2,000 -66.2%
96	COCA COLA CO COM KO	KO	375	$27.0k0.00%	0.00%	Added +1	+1 0.3%
97	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	300	$27.0k0.00%	0.00%	Unchanged
98	MOTOROLA SOLUTIONS INC COM NEW MSI	MSI	60	$26.0k0.00%	0.00%	Unchanged
99	ISHARES INC MSCI EMERG MRKT EEMV	EEMV	412	$24.0k0.00%	0.00%	Unchanged
100	AON PLC SHS CL A AON	AON	57	$23.0k0.00%	0.00%	New

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
FISERV INC FISV	FISV	1,700	$349.0k1.7k shares
SCHWAB CHARLES CORP SCHW	SCHW	4,600	$340.0k4.6k shares
JOHNSON CTLS INTL PLC JCI	JCI	3,600	$284.0k3.6k shares
WELLS FARGO CO NEW WFC	WFC	3,900	$274.0k3.9k shares
METLIFE INC MET	MET	3,154	$258.0k3.2k shares
SANOFI SNY	SNY	4,450	$215.0k4.5k shares
CHARTER COMMUNICATIONS INC N CHTR	CHTR	590	$202.0k590 shares
FEDEX CORP FDX	FDX	700	$197.0k700 shares
BANK NEW YORK MELLON CORP BNY	BNY	2,500	$192.0k2.5k shares
GILEAD SCIENCES INC GILD	GILD	1,900	$176.0k1.9k shares
CAPITAL ONE FINL CORP COF	COF	950	$169.0k950 shares
NORFOLK SOUTHN CORP NSC	NSC	700	$164.0k700 shares
CVS HEALTH CORP CVS	CVS	3,600	$162.0k3.6k shares
BOOKING HOLDINGS INC BKNG	BKNG	30	$149.0k30 shares
FIDELITY NATL INFORMATION SV FIS	FIS	1,800	$145.0k1.8k shares
COMCAST CORP NEW CMCSA	CMCSA	3,700	$139.0k3.7k shares
GSK PLC GSK	GSK	3,940	$133.0k3.9k shares
HUMANA INC HUM	HUM	525	$133.0k525 shares
GOLDMAN SACHS GROUP INC GS	GS	225	$129.0k225 shares
THE CIGNA GROUP CI	CI	450	$124.0k450 shares
T-MOBILE US INC TMUS	TMUS	550	$121.0k550 shares
ANHEUSER BUSCH INBEV SA/NV BUD	BUD	2,325	$116.0k2.3k shares
WILLIAMS COS INC WMB	WMB	2,100	$114.0k2.1k shares
AVANTOR INC AVTR	AVTR	5,200	$110.0k5.2k shares
BAKER HUGHES COMPANY BKR	BKR	2,600	$107.0k2.6k shares