Avoid naming a variable the same as the type (listViewItem)
Try this....
lvw.Columns.Add("First Column", 100, HorizontalAlignment.Center)
lvw.Columns.Add("Second Column", 100, HorizontalAlignment.Center)
lvw.Columns.Add("Third Column", 100, HorizontalAlignment.Center)
lvw.Columns.Add("Forth Column", 100, HorizontalAlignment.Center)
lvw.Columns.Add("Fifth Column", 100, HorizontalAlignment.Center)
Dim ctr As Integer
For ctr = 1 To 10
Dim item1 As New ListViewItem(ctr.ToString)
item1.SubItems.Add("Two " & ctr.ToString)
item1.SubItems.Add("Three " & ctr.ToString)
item1.SubItems.Add("Four " & ctr.ToString)
item1.SubItems.Add("Five " & ctr.ToString)
lvw.Items.AddRange(New ListViewItem() {item1})
Next