CKW FINANCIAL GROUP

HONOLULU, HI · CIK 1600403 · 13F filing filed 2025-07-28

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

$869.5m reported value +8.7% vs Q1 2025

190positions

95.0%in top 10

11 new 33 added 26 reduced 17 sold out vs Q1 2025

Holdings, Q2 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	667,694	$414.4m47.66%	47.66%	Reduced -3.5k	-3,465 -0.5%
2	ISHARES TR CORE MSCI EAFE IEFA	IEFA	2,161,672	$180.1m20.71%	20.71%	Reduced -17.9k	-17,946 -0.8%
3	ISHARES TR CORE S&P MCP ETF IJH	IJH	856,853	$53.8m6.19%	6.19%	Added +6.8k	+6,770 0.8%
4	MCDONALDS CORP COM MCD	MCD	141,141	$42.0m4.83%	4.83%	Reduced -399	-399 -0.3%
5	ISHARES INC CORE MSCI EMKT IEMG	IEMG	693,537	$41.7m4.79%	4.79%	Reduced -3.2k	-3,243 -0.5%
6	GOLDMAN SACHS ETF TR EQUAL WEIGHT US GSEW	GSEW	478,789	$39.4m4.53%	4.53%	Added +2.0k	+2,031 0.4%
7	ISHARES INC MSCI EMRG CHN EMXC	EMXC	446,653	$28.3m3.25%	3.25%	Reduced -3.4k	-3,436 -0.8%
8	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	186,026	$12.5m1.44%	1.44%	Reduced -5.4k	-5,376 -2.8%
9	NVIDIA CORPORATION COM NVDA	NVDA	56,246	$8.6m0.99%	0.99%	Added +26	+26 0.1%
10	AMAZON COM INC COM AMZN	AMZN	22,458	$5.0m0.57%	0.57%	Unchanged
11	VANGUARD SCOTTSDALE FDS VNG RUS1000GRW VONG	VONG	45,476	$4.9m0.57%	0.57%	Added +2.9k	+2,862 6.7%
12	MICROSOFT CORP COM MSFT	MSFT	9,614	$4.7m0.54%	0.54%	Added +2	+2 0.0%
13	MATSON INC COM MATX	MATX	37,436	$4.3m0.49%	0.49%	Added +1.2k	+1,185 3.3%
14	APPLE INC COM AAPL	AAPL	16,335	$3.4m0.39%	0.39%	Added +3	+3 0.0%
15	JPMORGAN CHASE & CO COM JPM	JPM	10,250	$3.0m0.34%	0.34%	Reduced -180	-180 -1.7%
16	ISHARES TR MSCI ACWI ETF ACWI	ACWI	22,070	$2.8m0.33%	0.33%	Added +1.4k	+1,391 6.7%
17	ALPHABET INC CAP STK CL A GOOGL	GOOGL	9,636	$1.7m0.19%	0.19%	Reduced -765	-765 -7.4%
18	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	2,681	$1.3m0.15%	0.15%	Unchanged
19	ALPHABET INC CAP STK CL C GOOG	GOOG	6,930	$1.2m0.14%	0.14%	Unchanged
20	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,799	$1.1m0.13%	0.13%	Added +3	+3 0.2%
21	COSTCO WHSL CORP NEW COM COST	COST	1,022	$1.0m0.12%	0.12%	Unchanged
22	FIRST HAWAIIAN INC COM FHB	FHB	32,600	$838.0k0.10%	0.10%	Unchanged
23	BANK AMERICA CORP COM BAC	BAC	16,186	$779.0k0.09%	0.09%	Added +4	+4 0.0%
24	TOYOTA MOTOR CORP ADS TM	TM	4,521	$775.0k0.09%	0.09%	Added +3	+3 0.1%
25	JOHNSON & JOHNSON COM JNJ	JNJ	4,176	$651.0k0.07%	0.07%	Added +19	+19 0.5%
26	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	4,992	$594.0k0.07%	0.07%	Reduced -75	-75 -1.5%
27	LINDE PLC SHS LIN	LIN	1,213	$578.0k0.07%	0.07%	Unchanged
28	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,943	$566.0k0.07%	0.07%	Added +5	+5 0.3%
29	ELI LILLY & CO COM LLY	LLY	602	$467.0k0.05%	0.05%	Unchanged
30	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,948	$424.0k0.05%	0.05%	Added +4	+4 0.2%
31	PIMCO ETF TR 0-5 HIGH YIELD HYS	HYS	4,189	$395.0k0.05%	0.05%	Reduced -20	-20 -0.5%
32	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	8,816	$378.0k0.04%	0.04%	Reduced -54	-54 -0.6%
33	ALEXANDER & BALDWIN INC NEW COM ALEX	ALEX	18,976	$342.0k0.04%	0.04%	Unchanged
34	TEXAS INSTRS INC COM TXN	TXN	1,605	$338.0k0.04%	0.04%	Unchanged
35	GE AEROSPACE COM NEW GE	GE	1,073	$267.0k0.03%	0.03%	Reduced -37	-37 -3.3%
36	NETFLIX INC COM NFLX	NFLX	200	$259.0k0.03%	0.03%	Unchanged
37	NIKE INC CL B NKE	NKE	3,368	$247.0k0.03%	0.03%	Added +2	+2 0.1%
38	MONSTER BEVERAGE CORP NEW COM MNST	MNST	3,600	$229.0k0.03%	0.03%	Unchanged
39	VERIZON COMMUNICATIONS INC COM VZ	VZ	5,205	$227.0k0.03%	0.03%	Unchanged
40	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	1,933	$218.0k0.03%	0.03%	Added +296	+296 18.1%
41	META PLATFORMS INC CL A META	META	277	$199.0k0.02%	0.02%	Unchanged
42	STARBUCKS CORP COM SBUX	SBUX	2,080	$197.0k0.02%	0.02%	Unchanged
43	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,425	$194.0k0.02%	0.02%	Unchanged
44	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	850	$191.0k0.02%	0.02%	Unchanged
45	CHEVRON CORP NEW COM CVX	CVX	1,294	$188.0k0.02%	0.02%	Added +4	+4 0.3%
46	TESLA INC COM TSLA	TSLA	600	$180.0k0.02%	0.02%	Unchanged
47	PROCTER AND GAMBLE CO COM PG	PG	1,109	$179.0k0.02%	0.02%	Added +1	+1 0.1%
48	BANK HAWAII CORP COM BOH	BOH	2,206	$154.0k0.02%	0.02%	Reduced -300	-300 -12.0%
49	EXXON MOBIL CORP COM XOM	XOM	1,317	$144.0k0.02%	0.02%	Added +8	+8 0.6%
50	OCCIDENTAL PETE CORP COM OXY	OXY	3,366	$144.0k0.02%	0.02%	Reduced -239	-239 -6.6%
51	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,770	$138.0k0.02%	0.02%	Unchanged
52	INTEL CORP COM INTC	INTC	6,002	$137.0k0.02%	0.02%	Unchanged
53	AT&T INC COM T	T	4,672	$135.0k0.02%	0.02%	Reduced -356	-356 -7.1%
54	GE VERNOVA INC COM GEV	GEV	267	$135.0k0.02%	0.02%	Reduced -9	-9 -3.3%
55	CITIGROUP INC COM NEW C	C	1,500	$129.0k0.01%	0.01%	Unchanged
56	HAWAIIAN ELEC INDUSTRIES COM HE	HE	11,578	$129.0k0.01%	0.01%	Unchanged
57	AFLAC INC COM AFL	AFL	1,210	$128.0k0.01%	0.01%	Unchanged
58	FORD MTR CO COM F	F	11,142	$126.0k0.01%	0.01%	Added +88	+88 0.8%
59	CENTRAL PAC FINL CORP COM NEW CPF	CPF	4,038	$116.0k0.01%	0.01%	Added +16	+16 0.4%
60	HUBSPOT INC COM HUBS	HUBS	203	$113.0k0.01%	0.01%	Unchanged
61	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	201	$110.0k0.01%	0.01%	Unchanged
62	WALMART INC COM WMT	WMT	1,050	$103.0k0.01%	0.01%	Unchanged
63	ISHARES TR U.S. TECH ETF IYW	IYW	540	$93.0k0.01%	0.01%	Unchanged
64	TRAVELERS COMPANIES INC COM TRV	TRV	344	$92.0k0.01%	0.01%	Unchanged
65	ALLSTATE CORP COM ALL	ALL	450	$90.0k0.01%	0.01%	Unchanged
66	ISHARES TR GRWT ALLOCAT ETF AOR	AOR	1,379	$85.0k0.01%	0.01%	Added +19	+19 1.4%
67	ISHARES TR IBOXX HI YD ETF HYG	HYG	1,040	$83.0k0.01%	0.01%	Unchanged
68	BLACKROCK DEBT STRATEGIES FD COM NEW DSU	DSU	7,711	$82.0k0.01%	0.01%	Unchanged
69	CARRIER GLOBAL CORPORATION COM CARR	CARR	1,102	$82.0k0.01%	0.01%	Unchanged
70	BROADCOM INC COM AVGO	AVGO	300	$79.0k0.01%	0.01%	Unchanged
71	CORTEVA INC COM CTVA	CTVA	992	$74.0k0.01%	0.01%	Added +2	+2 0.2%
72	MODINE MFG CO COM MOD	MOD	750	$74.0k0.01%	0.01%	Unchanged
73	DELL TECHNOLOGIES INC CL C DELL	DELL	541	$66.0k0.01%	0.01%	Unchanged
74	GENTEX CORP COM GNTX	GNTX	2,827	$65.0k0.01%	0.01%	Added +8	+8 0.3%
75	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	1,282	$65.0k0.01%	0.01%	Unchanged
76	ISHARES TR AGGRES ALLOC ETF AOA	AOA	752	$63.0k0.01%	0.01%	Added +5	+5 0.7%
77	MAGNA INTL INC COM MGA	MGA	1,483	$59.0k0.01%	0.01%	Added +9	+9 0.6%
78	DUPONT DE NEMOURS INC COM DWDP	DWDP	765	$55.0k0.01%	0.01%	Added +2	+2 0.3%
79	FREEPORT-MCMORAN INC CL B FCX	FCX	1,052	$46.0k0.01%	0.01%	Unchanged
80	PFIZER INC COM PFE	PFE	1,775	$44.0k0.01%	0.01%	Reduced -275	-275 -13.4%
81	VISA INC COM CL A V	V	125	$44.0k0.01%	0.01%	Unchanged
82	ISHARES TR MSCI EAFE MIN VL EFAV	EFAV	500	$42.0k0.00%	0.00%	Unchanged
83	ADOBE INC COM ADBE	ADBE	100	$39.0k0.00%	0.00%	Unchanged
84	DISNEY WALT CO COM DIS	DIS	317	$39.0k0.00%	0.00%	Unchanged
85	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	121	$37.0k0.00%	0.00%	Unchanged
86	AMGEN INC COM AMGN	AMGN	126	$36.0k0.00%	0.00%	Added +1	+1 0.8%
87	CISCO SYS INC COM CSCO	CSCO	519	$36.0k0.00%	0.00%	Added +2	+2 0.4%
88	DUKE ENERGY CORP NEW COM NEW DUK	DUK	288	$34.0k0.00%	0.00%	Unchanged
89	HOPE BANCORP INC COM HOPE	HOPE	2,906	$32.0k0.00%	0.00%	New
90	BLACKSTONE SECD LENDING FD COMMON STOCK BXSL	BXSL	1,000	$31.0k0.00%	0.00%	Unchanged
91	COCA COLA CO COM KO	KO	376	$27.0k0.00%	0.00%	Added +1	+1 0.3%
92	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	300	$27.0k0.00%	0.00%	Unchanged
93	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	346	$26.0k0.00%	0.00%	Reduced -12	-12 -3.4%
94	ISHARES INC MSCI EMERG MRKT EEMV	EEMV	412	$26.0k0.00%	0.00%	Unchanged
95	MOTOROLA SOLUTIONS INC COM NEW MSI	MSI	60	$26.0k0.00%	0.00%	Unchanged
96	HP INC COM HPQ	HPQ	957	$24.0k0.00%	0.00%	Reduced -63	-63 -6.2%
97	INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF QQQM	QQQM	105	$24.0k0.00%	0.00%	Added +1	+1 1.0%
98	AGILENT TECHNOLOGIES INC COM A	A	187	$23.0k0.00%	0.00%	Unchanged
99	GLOBAL X FDS SUPERDIVIDEND SDIV	SDIV	1,000	$23.0k0.00%	0.00%	Unchanged
100	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	984	$20.0k0.00%	0.00%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
SIMON PPTY GROUP INC NEW SPG	SPG	1,677	$279.0k1.7k shares
ONEMEDNET CORP		100,000	$55.0k100.0k shares
TERRITORIAL BANCORP INC TBNK	TBNK	3,612	$30.0k3.6k shares
AON PLC AON	AON	57	$23.0k57 shares
PROGYNY INC PGNY	PGNY	640	$15.0k640 shares
XOS INC XOS	XOS	4,986	$15.0k5.0k shares
ROCKET LAB USA INC		331	$6.0k331 shares
SOLVENTUM CORP SOLV	SOLV	25	$2.0k25 shares
CTO RLTY GROWTH INC NEW CTO	CTO	50	$1.0k50 shares
J P MORGAN EXCHANGE TRADED F JEPI	JEPI	20	$1.0k20 shares
ARCELORMITTAL SA LUXEMBOURG MT	MT	33	$1.0k33 shares
STEM INC		3,872	$1.0k3.9k shares
DEXCOM INC DXCM	DXCM	10	$1.0k10 shares
CENTENE CORP DEL CNC	CNC	0	$00 shares
23ANDME HOLDING CO VGAC	VGAC	20	$020 shares
ORGANON & CO OGN	OGN	10	$010 shares
BARRICK GOLD CORP		25	$025 shares