CKW FINANCIAL GROUP

HONOLULU, HI · CIK 1600403 · 13F filing filed 2026-01-26

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

$922.2m reported value +0.5% vs Q3 2025

186positions

96.0%in top 10

10 new 25 added 42 reduced 12 sold out vs Q3 2025

Holdings, Q4 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	621,471	$425.7m46.16%	46.16%	Reduced -8.2k	-8,246 -1.3%
2	ISHARES TR CORE MSCI EAFE IEFA	IEFA	2,158,492	$193.1m20.94%	20.94%	Reduced -9.7k	-9,666 -0.5%
3	ISHARES INC CORE MSCI EMKT IEMG	IEMG	1,237,112	$83.2m9.02%	9.02%	Added +1.5k	+1,486 0.1%
4	ISHARES TR CORE S&P MCP ETF IJH	IJH	905,871	$59.8m6.48%	6.48%	Reduced -842	-842 -0.1%
5	GOLDMAN SACHS ETF TR EQUAL WEIGHT US GSEW	GSEW	484,949	$41.3m4.48%	4.48%	Reduced -82	-82 -0.0%
6	MCDONALDS CORP COM MCD	MCD	134,941	$41.2m4.47%	4.47%	Reduced -200	-200 -0.1%
7	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	290,287	$21.4m2.32%	2.32%	Reduced -348	-348 -0.1%
8	NVIDIA CORPORATION COM NVDA	NVDA	52,163	$9.7m1.05%	1.05%	Reduced -2.7k	-2,702 -4.9%
9	VANGUARD SCOTTSDALE FDS VNG RUS1000GRW VONG	VONG	44,597	$5.4m0.59%	0.59%	Added +743	+743 1.7%
10	MICROSOFT CORP COM MSFT	MSFT	9,593	$4.6m0.50%	0.50%	Reduced -122	-122 -1.3%
11	MATSON INC COM MATX	MATX	37,436	$4.6m0.50%	0.50%	Unchanged
12	APPLE INC COM AAPL	AAPL	15,536	$4.2m0.46%	0.46%	Reduced -733	-733 -4.5%
13	ISHARES TR MSCI ACWI ETF ACWI	ACWI	23,503	$3.3m0.36%	0.36%	Added +835	+835 3.7%
14	JPMORGAN CHASE & CO COM JPM	JPM	9,706	$3.1m0.34%	0.34%	Added +257	+257 2.7%
15	ALPHABET INC CAP STK CL A GOOGL	GOOGL	7,337	$2.3m0.25%	0.25%	Unchanged
16	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	2,864	$1.4m0.16%	0.16%	Added +100	+100 3.6%
17	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,904	$1.3m0.14%	0.14%	Added +102	+102 5.7%
18	TOYOTA MOTOR CORP ADS TM	TM	4,523	$968.0k0.10%	0.10%	Added +2	+2 0.0%
19	BANK AMERICA CORP COM BAC	BAC	16,078	$884.0k0.10%	0.10%	Reduced -106	-106 -0.7%
20	COSTCO WHSL CORP NEW COM COST	COST	1,022	$881.0k0.10%	0.10%	Unchanged
21	JOHNSON & JOHNSON COM JNJ	JNJ	4,207	$871.0k0.09%	0.09%	Added +15	+15 0.4%
22	FIRST HAWAIIAN INC COM FHB	FHB	32,200	$815.0k0.09%	0.09%	Reduced -400	-400 -1.2%
23	ELI LILLY & CO COM LLY	LLY	602	$647.0k0.07%	0.07%	Unchanged
24	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,953	$579.0k0.06%	0.06%	Added +4	+4 0.2%
25	ISHARES INC MSCI GBL MIN VOL ACWV	ACWV	4,767	$566.0k0.06%	0.06%	Reduced -192	-192 -3.9%
26	PIMCO ETF TR 0-5 HIGH YIELD HYS	HYS	4,400	$417.0k0.05%	0.05%	Reduced -23	-23 -0.5%
27	AMAZON COM INC COM AMZN	AMZN	1,799	$415.0k0.05%	0.05%	Reduced -14.8k	-14,808 -89.2%
28	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	9,393	$403.0k0.04%	0.04%	Reduced -76	-76 -0.8%
29	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,957	$363.0k0.04%	0.04%	Added +5	+5 0.3%
30	ALEXANDER & BALDWIN INC NEW COM ALEX	ALEX	16,785	$346.0k0.04%	0.04%	Unchanged
31	ISHARES INC MSCI EMRG CHN EMXC	EMXC	4,479	$325.0k0.04%	0.04%	Reduced -11.0k	-10,979 -71.0%
32	GE AEROSPACE COM NEW GE	GE	1,037	$319.0k0.03%	0.03%	Reduced -36	-36 -3.4%
33	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	1,933	$311.0k0.03%	0.03%	Unchanged
34	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,425	$305.0k0.03%	0.03%	Unchanged
35	MONSTER BEVERAGE CORP NEW COM MNST	MNST	3,600	$276.0k0.03%	0.03%	Unchanged
36	TEXAS INSTRS INC COM TXN	TXN	1,561	$271.0k0.03%	0.03%	Reduced -44	-44 -2.7%
37	TESLA INC COM TSLA	TSLA	600	$270.0k0.03%	0.03%	Unchanged
38	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	850	$258.0k0.03%	0.03%	Unchanged
39	LINDE PLC SHS LIN	LIN	606	$258.0k0.03%	0.03%	Reduced -607	-607 -50.0%
40	INTEL CORP COM INTC	INTC	6,002	$221.0k0.02%	0.02%	Unchanged
41	NIKE INC CL B NKE	NKE	3,371	$215.0k0.02%	0.02%	Unchanged
42	VERIZON COMMUNICATIONS INC COM VZ	VZ	5,230	$213.0k0.02%	0.02%	Reduced -25	-25 -0.5%
43	CHEVRON CORP NEW COM CVX	CVX	1,299	$198.0k0.02%	0.02%	Added +3	+3 0.2%
44	NETFLIX INC COM NFLX	NFLX	2,000	$188.0k0.02%	0.02%	Unchanged
45	META PLATFORMS INC CL A META	META	277	$183.0k0.02%	0.02%	Unchanged
46	MORGAN STANLEY COM NEW MS	MS	1,000	$178.0k0.02%	0.02%	New
47	CITIGROUP INC COM NEW C	C	1,500	$175.0k0.02%	0.02%	Unchanged
48	STARBUCKS CORP COM SBUX	SBUX	2,080	$175.0k0.02%	0.02%	Unchanged
49	GE VERNOVA INC COM GEV	GEV	258	$169.0k0.02%	0.02%	Reduced -9	-9 -3.4%
50	EXXON MOBIL CORP COM XOM	XOM	1,332	$160.0k0.02%	0.02%	Added +7	+7 0.5%
51	PROCTER AND GAMBLE CO COM PG	PG	1,110	$159.0k0.02%	0.02%	Unchanged
52	FORD MTR CO COM F	F	11,290	$148.0k0.02%	0.02%	Added +70	+70 0.6%
53	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,756	$148.0k0.02%	0.02%	Unchanged
54	AFLAC INC COM AFL	AFL	1,210	$133.0k0.01%	0.01%	Unchanged
55	CENTRAL PAC FINL CORP COM NEW CPF	CPF	3,995	$124.0k0.01%	0.01%	Reduced -56	-56 -1.4%
56	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	201	$123.0k0.01%	0.01%	Unchanged
57	AT&T INC COM T	T	4,722	$117.0k0.01%	0.01%	Unchanged
58	WALMART INC COM WMT	WMT	1,050	$117.0k0.01%	0.01%	Unchanged
59	ISHARES TR U.S. TECH ETF IYW	IYW	540	$108.0k0.01%	0.01%	Unchanged
60	BANK HAWAII CORP COM BOH	BOH	1,562	$107.0k0.01%	0.01%	Reduced -535	-535 -25.5%
61	BROADCOM INC COM AVGO	AVGO	300	$104.0k0.01%	0.01%	Unchanged
62	MODINE MFG CO COM MOD	MOD	750	$100.0k0.01%	0.01%	Unchanged
63	TRAVELERS COMPANIES INC COM TRV	TRV	344	$100.0k0.01%	0.01%	Unchanged
64	ALLSTATE CORP COM ALL	ALL	450	$94.0k0.01%	0.01%	Unchanged
65	ISHARES TR GRWT ALLOCAT ETF AOR	AOR	1,417	$92.0k0.01%	0.01%	Added +17	+17 1.2%
66	ISHARES TR IBOXX HI YD ETF HYG	HYG	1,040	$84.0k0.01%	0.01%	Unchanged
67	HUBSPOT INC COM HUBS	HUBS	203	$81.0k0.01%	0.01%	Unchanged
68	MAGNA INTL INC COM MGA	MGA	1,496	$80.0k0.01%	0.01%	Added +6	+6 0.4%
69	BLACKROCK DEBT STRATEGIES FD COM NEW DSU	DSU	7,711	$78.0k0.01%	0.01%	Unchanged
70	ISHARES TR AGGRES ALLOC ETF AOA	AOA	763	$68.0k0.01%	0.01%	Added +6	+6 0.8%
71	GENTEX CORP COM GNTX	GNTX	2,841	$66.0k0.01%	0.01%	Added +7	+7 0.2%
72	DELL TECHNOLOGIES INC CL C DELL	DELL	515	$65.0k0.01%	0.01%	Reduced -26	-26 -4.8%
73	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	1,282	$65.0k0.01%	0.01%	Unchanged
74	CARRIER GLOBAL CORPORATION COM CARR	CARR	1,103	$58.0k0.01%	0.01%	Added +1	+1 0.1%
75	FREEPORT-MCMORAN INC CL B FCX	FCX	1,052	$53.0k0.01%	0.01%	Unchanged
76	VISA INC COM CL A V	V	125	$44.0k0.00%	0.00%	Unchanged
77	ISHARES TR MSCI EAFE MIN VL EFAV	EFAV	500	$43.0k0.00%	0.00%	Unchanged
78	AMGEN INC COM AMGN	AMGN	127	$41.0k0.00%	0.00%	Added +1	+1 0.8%
79	CISCO SYS INC COM CSCO	CSCO	522	$40.0k0.00%	0.00%	Added +1	+1 0.2%
80	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	121	$40.0k0.00%	0.00%	Unchanged
81	PFIZER INC COM PFE	PFE	1,475	$37.0k0.00%	0.00%	Reduced -300	-300 -16.9%
82	CORTEVA INC COM CTVA	CTVA	530	$36.0k0.00%	0.00%	Reduced -463	-463 -46.6%
83	DISNEY WALT CO COM DIS	DIS	317	$36.0k0.00%	0.00%	Unchanged
84	ADOBE INC COM ADBE	ADBE	100	$35.0k0.00%	0.00%	Unchanged
85	ALPHABET INC CAP STK CL C GOOG	GOOG	100	$31.0k0.00%	0.00%	Unchanged
86	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	1,056	$30.0k0.00%	0.00%	Unchanged
87	INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF QQQM	QQQM	111	$28.0k0.00%	0.00%	Unchanged
88	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	372	$28.0k0.00%	0.00%	New
89	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	300	$27.0k0.00%	0.00%	Unchanged
90	APPLIED MATLS INC COM AMAT	AMAT	100	$26.0k0.00%	0.00%	Unchanged
91	BLACKSTONE SECD LENDING FD COMMON STOCK BXSL	BXSL	1,000	$26.0k0.00%	0.00%	Unchanged
92	COCA COLA CO COM KO	KO	374	$26.0k0.00%	0.00%	Reduced -3	-3 -0.8%
93	ISHARES INC MSCI EMERG MRKT EEMV	EEMV	412	$26.0k0.00%	0.00%	Unchanged
94	MICRON TECHNOLOGY INC COM MU	MU	90	$26.0k0.00%	0.00%	Unchanged
95	GLOBAL X FDS SUPERDIVIDEND SDIV	SDIV	1,000	$24.0k0.00%	0.00%	Unchanged
96	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	280	$23.0k0.00%	0.00%	Reduced -66	-66 -19.1%
97	ROCKET LAB CORP COM RKLB	RKLB	331	$23.0k0.00%	0.00%	Unchanged
98	RTX CORPORATION COM RTX	RTX	105	$19.0k0.00%	0.00%	Added +1	+1 1.0%
99	BIOGEN INC COM BIIB	BIIB	100	$18.0k0.00%	0.00%	Unchanged
100	ISHARES TR MSCI EAFE ETF EFA	EFA	184	$18.0k0.00%	0.00%	Added +3	+3 1.7%

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
DUKE ENERGY CORP NEW DUK	DUK	288	$35.0k288 shares
MOTOROLA SOLUTIONS INC MSI	MSI	60	$27.0k60 shares
DOW INC DOW	DOW	552	$13.0k552 shares
ISHARES TR FXI	FXI	300	$12.0k300 shares
ISHARES BITCOIN TRUST ETF IBIT	IBIT	110	$7.0k110 shares
FIRST TR EXCHANGE-TRADED FD LEGR	LEGR	50	$3.0k50 shares
GRAYSCALE ETHEREUM TRUST ETF ETHE	ETHE	50	$2.0k50 shares
VANGUARD SCOTTSDALE FDS VCIT	VCIT	8	$1.0k8 shares
ZIMVIE INC ZIMV	ZIMV	1	$01 shares
MARATHON PETE CORP MPC	MPC	1	$01 shares
PEPSICO INC PEP	PEP	1	$01 shares
AMERICAN CENTY ETF TR AVDV	AVDV	4	$04 shares