The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 06-30-2022
Check here if Amendment   Amendment Number:
This Amendment (Check only one.):   is a restatement.
  adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: PAX Financial Group, LLC
Address: 270 N Loop 1604 E
Suite 200
San Antonio , TX78232
Form 13F File Number: 028-20173

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name: Gery Sadzewicz
Title: Chief Compliance Officer
Phone: 815-782-1250
Signature, Place, and Date of Signing:
/s/ Gery Sadzewicz San Antonio , TX 08-08-2022
[Signature] [City, State] [Date]
Report Type (Check only one.):
X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
  13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
  13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 168
Form 13F Information Table Value Total: 395,236
(thousands)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name

List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No. Form 13F File Number Name


SEC FORM 13F-HR

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABIOMED INC COM 003654100 741 2,995 SH SOLE 0 0 2,995
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 676 2,435 SH SOLE 0 0 2,435
ACTIVISION BLIZZARD INC COM 00507V109 878 11,281 SH SOLE 0 0 11,281
ADOBE SYSTEMS INCORPORATED COM 00724F101 598 1,633 SH SOLE 0 0 1,633
ALIGN TECHNOLOGY INC COM 016255101 419 1,771 SH SOLE 0 0 1,771
ALPHABET INC CAP STK CL A 02079K305 795 365 SH SOLE 0 0 365
ALPHABET INC CAP STK CL C 02079K107 269 123 SH SOLE 0 0 123
AMAZON COM INC COM 023135106 516 4,862 SH SOLE 0 0 4,862
AMERICAN INTL GROUP INC COM NEW 026874784 202 3,948 SH SOLE 0 0 3,948
APPLE INC COM 037833100 1,928 14,105 SH SOLE 0 0 14,105
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101 606 10,658 SH SOLE 0 0 10,658
ARISTA NETWORKS INC COM 040413106 1,946 20,755 SH SOLE 0 0 20,755
ATMOS ENERGY CORP COM 049560105 278 2,476 SH SOLE 0 0 2,476
AUTOMATIC DATA PROCESSING IN COM 053015103 850 4,049 SH SOLE 0 0 4,049
AXOGEN INC COM 05463X106 155 18,884 SH SOLE 0 0 18,884
BECTON DICKINSON & CO COM 075887109 680 2,757 SH SOLE 0 0 2,757
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 690 2,529 SH SOLE 0 0 2,529
BIOGEN INC COM 09062X103 553 2,713 SH SOLE 0 0 2,713
BLACKROCK INC COM 09247X101 685 1,124 SH SOLE 0 0 1,124
BORGWARNER INC COM 099724106 750 22,465 SH SOLE 0 0 22,465
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 601 5,924 SH SOLE 0 0 5,924
CINCINNATI FINL CORP COM 172062101 840 7,057 SH SOLE 0 0 7,057
CION INVT CORP COM 17259U204 414 47,616 SH SOLE 0 0 47,616
CME GROUP INC COM 12572Q105 755 3,690 SH SOLE 0 0 3,690
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 579 8,580 SH SOLE 0 0 8,580
CONOCOPHILLIPS COM 20825C104 360 4,003 SH SOLE 0 0 4,003
COPART INC COM 217204106 485 4,466 SH SOLE 0 0 4,466
COSTCO WHSL CORP NEW COM 22160K105 1,308 2,728 SH SOLE 0 0 2,728
CVS HEALTH CORP COM 126650100 832 8,980 SH SOLE 0 0 8,980
D R HORTON INC COM 23331A109 754 11,388 SH SOLE 0 0 11,388
DISNEY WALT CO COM 254687106 569 6,030 SH SOLE 0 0 6,030
DOLLAR GEN CORP NEW COM 256677105 846 3,445 SH SOLE 0 0 3,445
DUKE REALTY CORP COM NEW 264411505 217 3,953 SH SOLE 0 0 3,953
EOG RES INC COM 26875P101 290 2,625 SH SOLE 0 0 2,625
EVEREST RE GROUP LTD COM G3223R108 844 3,010 SH SOLE 0 0 3,010
EVERGY INC COM 30034W106 237 3,634 SH SOLE 0 0 3,634
EXPEDITORS INTL WASH INC COM 302130109 528 5,413 SH SOLE 0 0 5,413
FIDELITY NATL INFORMATION SV COM 31620M106 743 8,101 SH SOLE 0 0 8,101
FORTINET INC COM 34959E109 2,211 39,086 SH SOLE 0 0 39,086
FOX CORP CL A COM 35137L105 685 21,310 SH SOLE 0 0 21,310
FREEPORT-MCMORAN INC CL B 35671D857 282 9,655 SH SOLE 0 0 9,655
FS KKR CAP CORP COM 302635206 606 31,196 SH SOLE 0 0 31,196
GALLAGHER ARTHUR J & CO COM 363576109 832 5,101 SH SOLE 0 0 5,101
GARMIN LTD SHS H2906T109 659 6,705 SH SOLE 0 0 6,705
GENERAL DYNAMICS CORP COM 369550108 606 2,738 SH SOLE 0 0 2,738
GILEAD SCIENCES INC COM 375558103 762 12,321 SH SOLE 0 0 12,321
HELMERICH & PAYNE INC COM 423452101 265 6,159 SH SOLE 0 0 6,159
HENRY JACK & ASSOC INC COM 426281101 3,036 16,867 SH SOLE 0 0 16,867
HOME DEPOT INC COM 437076102 1,357 4,948 SH SOLE 0 0 4,948
HORMEL FOODS CORP COM 440452100 479 10,117 SH SOLE 0 0 10,117
INCYTE CORP COM 45337C102 1,133 14,913 SH SOLE 0 0 14,913
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 522 4,379 SH SOLE 0 0 4,379
INTUIT COM 461202103 679 1,762 SH SOLE 0 0 1,762
INTUITIVE SURGICAL INC COM NEW 46120E602 671 3,343 SH SOLE 0 0 3,343
INVESCO DB US DLR INDEX TR BULLISH FD 46141D203 11,888 425,171 SH SOLE 0 0 425,171
INVESCO QQQ TR UNIT SER 1 46090E103 543 1,939 SH SOLE 0 0 1,939
ISHARES INC MSCI EMERG MRKT 464286533 7,556 136,319 SH SOLE 0 0 136,319
ISHARES INC ESG AWR MSCI EM 46434G863 1,048 32,439 SH SOLE 0 0 32,439
ISHARES INC CORE MSCI EMKT 46434G103 205 4,179 SH SOLE 0 0 4,179
ISHARES TR CORE S&P500 ETF 464287200 49,785 131,307 SH SOLE 0 0 131,307
ISHARES TR ESG AWR MSCI USA 46435G425 29,614 352,962 SH SOLE 0 0 352,962
ISHARES TR CORE TOTAL USD 46434V613 23,497 501,866 SH SOLE 0 0 501,866
ISHARES TR US TREAS BD ETF 46429B267 15,772 659,905 SH SOLE 0 0 659,905
ISHARES TR EAFE VALUE ETF 464288877 14,986 345,309 SH SOLE 0 0 345,309
ISHARES TR EAFE GRWTH ETF 464288885 8,194 101,806 SH SOLE 0 0 101,806
ISHARES TR TIPS BD ETF 464287176 7,857 68,977 SH SOLE 0 0 68,977
ISHARES TR CORE HIGH DV ETF 46429B663 4,984 49,630 SH SOLE 0 0 49,630
ISHARES TR MSCI ACWI ETF 464288257 4,721 56,274 SH SOLE 0 0 56,274
ISHARES TR FALN ANGLS USD 46435G474 4,402 178,789 SH SOLE 0 0 178,789
ISHARES TR RUS 1000 GRW ETF 464287614 3,892 17,796 SH SOLE 0 0 17,796
ISHARES TR SP SMCP600VL ETF 464287879 3,733 41,930 SH SOLE 0 0 41,930
ISHARES TR CORE INTL AGGR 46435G672 3,141 63,055 SH SOLE 0 0 63,055
ISHARES TR MBS ETF 464288588 3,001 30,784 SH SOLE 0 0 30,784
ISHARES TR 10-20 YR TRS ETF 464288653 2,873 23,914 SH SOLE 0 0 23,914
ISHARES TR U.S. ENERGY ETF 464287796 2,737 71,807 SH SOLE 0 0 71,807
ISHARES TR CORE MSCI EURO 46434V738 2,546 56,627 SH SOLE 0 0 56,627
ISHARES TR CONV BD ETF 46435G102 2,396 34,542 SH SOLE 0 0 34,542
ISHARES TR MSCI USA MIN VOL 46429B697 2,336 33,278 SH SOLE 0 0 33,278
ISHARES TR CORE MSCI PAC 46434V696 2,210 42,506 SH SOLE 0 0 42,506
ISHARES TR US INFRASTRUC 46435U713 1,477 43,377 SH SOLE 0 0 43,377
ISHARES TR 7-10 YR TRSY BD 464287440 1,307 12,774 SH SOLE 0 0 12,774
ISHARES TR CORE US AGGBD ET 464287226 1,147 11,285 SH SOLE 0 0 11,285
ISHARES TR SHORT TREAS BD 464288679 1,013 9,197 SH SOLE 0 0 9,197
ISHARES TR 3 7 YR TREAS BD 464288661 739 6,195 SH SOLE 0 0 6,195
ISHARES TR GLOBAL TECH ETF 464287291 562 12,297 SH SOLE 0 0 12,297
ISHARES TR NATIONAL MUN ETF 464288414 557 5,235 SH SOLE 0 0 5,235
ISHARES TR HDG MSCI EAFE 46434V803 539 16,945 SH SOLE 0 0 16,945
ISHARES TR CORE MSCI EAFE 46432F842 428 7,279 SH SOLE 0 0 7,279
ISHARES TR 1 3 YR TREAS BD 464287457 361 4,363 SH SOLE 0 0 4,363
ISHARES TR ISHARES BIOTECH 464287556 353 3,000 SH SOLE 0 0 3,000
ISHARES TR CORE S&P SCP ETF 464287804 250 2,706 SH SOLE 0 0 2,706
ISHARES TR CORE S&P MCP ETF 464287507 244 1,078 SH SOLE 0 0 1,078
ISHARES U S ETF TR GSCI CMDTY STGY 46431W853 1,714 41,867 SH SOLE 0 0 41,867
JOHNSON & JOHNSON COM 478160104 796 4,487 SH SOLE 0 0 4,487
LENNAR CORP CL A 526057104 709 10,041 SH SOLE 0 0 10,041
MASTERCARD INCORPORATED CL A 57636Q104 813 2,576 SH SOLE 0 0 2,576
MEDTRONIC PLC SHS G5960L103 570 6,347 SH SOLE 0 0 6,347
MERCK & CO INC COM 58933Y105 235 2,573 SH SOLE 0 0 2,573
MICROSOFT CORP COM 594918104 1,278 4,976 SH SOLE 0 0 4,976
MOSAIC CO NEW COM 61945C103 221 4,670 SH SOLE 0 0 4,670
NASDAQ INC COM 631103108 830 5,439 SH SOLE 0 0 5,439
NEWMONT CORP COM 651639106 239 4,005 SH SOLE 0 0 4,005
NEWS CORP NEW CL B 65249B208 609 38,300 SH SOLE 0 0 38,300
NEXTERA ENERGY INC COM 65339F101 881 11,375 SH SOLE 0 0 11,375
NIKE INC CL B 654106103 1,196 11,704 SH SOLE 0 0 11,704
NORTHERN DYNASTY MINERALS LT COM NEW 66510M204 78 300,000 SH SOLE 0 0 300,000
NORTHERN LTS FD TR IV INTRNTINL ESG 66538H419 8,335 335,001 SH SOLE 0 0 335,001
NORTHERN LTS FD TR IV INSPIRE CORP ESG 66538H633 7,992 341,519 SH SOLE 0 0 341,519
NORTHERN LTS FD TR IV INSPIRE GBL ESG 66538H658 6,345 210,877 SH SOLE 0 0 210,877
NORTHERN LTS FD TR IV INSPIRE SML/ MID 66538H641 5,710 199,925 SH SOLE 0 0 199,925
NORTHERN LTS FD TR IV INSPIRE 100 ESG 66538H534 4,691 161,056 SH SOLE 0 0 161,056
NOV INC COM 62955J103 221 13,074 SH SOLE 0 0 13,074
NOVO-NORDISK A S ADR 670100205 719 6,448 SH SOLE 0 0 6,448
NU SKIN ENTERPRISES INC CL A 67018T105 447 10,313 SH SOLE 0 0 10,313
NUCOR CORP COM 670346105 236 2,258 SH SOLE 0 0 2,258
OLD DOMINION FREIGHT LINE IN COM 679580100 518 2,023 SH SOLE 0 0 2,023
ONEOK INC NEW COM 682680103 712 12,826 SH SOLE 0 0 12,826
ORACLE CORP COM 68389X105 563 8,056 SH SOLE 0 0 8,056
PILGRIMS PRIDE CORP COM 72147K108 561 17,971 SH SOLE 0 0 17,971
PIMCO ETF TR ENHNCD LW DUR AC 72201R718 1,163 12,111 SH SOLE 0 0 12,111
PINNACLE WEST CAP CORP COM 723484101 204 2,783 SH SOLE 0 0 2,783
POOL CORP COM 73278L105 670 1,907 SH SOLE 0 0 1,907
QUALCOMM INC COM 747525103 712 5,574 SH SOLE 0 0 5,574
RAYTHEON TECHNOLOGIES CORP COM 75513E101 641 6,668 SH SOLE 0 0 6,668
REPUBLIC SVCS INC COM 760759100 877 6,703 SH SOLE 0 0 6,703
S&P GLOBAL INC COM 78409V104 729 2,163 SH SOLE 0 0 2,163
SKYWORKS SOLUTIONS INC COM 83088M102 1,318 14,222 SH SOLE 0 0 14,222
SMITH A O CORP COM 831865209 511 9,339 SH SOLE 0 0 9,339
SPDR INDEX SHS FDS PORTFOLIO DEVLPD 78463X889 5,128 177,822 SH SOLE 0 0 177,822
SPDR INDEX SHS FDS PORTFOLIO EMG MK 78463X509 3,112 89,500 SH SOLE 0 0 89,500
SPDR S&P 500 ETF TR TR UNIT 78462F103 565 1,498 SH SOLE 0 0 1,498
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 207 500 SH SOLE 0 0 500
SPDR SER TR PORTFOLIO AGRGTE 78464A649 12,714 482,489 SH SOLE 0 0 482,489
SPDR SER TR PORTFOLI S&P1500 78464A805 7,988 171,854 SH SOLE 0 0 171,854
SPDR SER TR PRTFLO S&P500 VL 78464A508 4,972 135,035 SH SOLE 0 0 135,035
SPDR SER TR PRTFLO S&P500 GW 78464A409 4,777 91,366 SH SOLE 0 0 91,366
SPDR SER TR PORTFOLIO S&P400 78464A847 1,657 41,745 SH SOLE 0 0 41,745
SPDR SER TR NUVEEN BLMBRG SH 78468R739 677 14,325 SH SOLE 0 0 14,325
SPDR SER TR PORTFOLIO S&P600 78468R853 457 12,715 SH SOLE 0 0 12,715
SPDR SER TR BLOOMBERG HIGH Y 78468R622 285 3,146 SH SOLE 0 0 3,146
STARBUCKS CORP COM 855244109 1,329 17,401 SH SOLE 0 0 17,401
STERIS PLC SHS USD G8473T100 786 3,815 SH SOLE 0 0 3,815
STRYKER CORPORATION COM 863667101 626 3,147 SH SOLE 0 0 3,147
SVB FINANCIAL GROUP COM 78486Q101 579 1,465 SH SOLE 0 0 1,465
TESLA INC COM 88160R101 992 1,474 SH SOLE 0 0 1,474
THOMSON REUTERS CORP. COM NEW 884903709 818 7,850 SH SOLE 0 0 7,850
TRACTOR SUPPLY CO COM 892356106 810 4,179 SH SOLE 0 0 4,179
TTEC HLDGS INC COM 89854H102 707 10,418 SH SOLE 0 0 10,418
UNILEVER PLC SPON ADR NEW 904767704 554 12,078 SH SOLE 0 0 12,078
UNION PAC CORP COM 907818108 835 3,917 SH SOLE 0 0 3,917
VALERO ENERGY CORP COM 91913Y100 698 6,572 SH SOLE 0 0 6,572
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835 1,742 23,152 SH SOLE 0 0 23,152
VANGUARD BD INDEX FDS SHORT TRM BOND 921937827 1,080 14,059 SH SOLE 0 0 14,059
VANGUARD INDEX FDS MID CAP ETF 922908629 5,487 27,856 SH SOLE 0 0 27,856
VANGUARD INDEX FDS SMALL CP ETF 922908751 3,479 19,753 SH SOLE 0 0 19,753
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 1,968 5,673 SH SOLE 0 0 5,673
VANGUARD INDEX FDS VALUE ETF 922908744 774 5,868 SH SOLE 0 0 5,868
VANGUARD INDEX FDS GROWTH ETF 922908736 619 2,775 SH SOLE 0 0 2,775
VANGUARD INDEX FDS SM CP VAL ETF 922908611 301 2,006 SH SOLE 0 0 2,006
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 723 17,368 SH SOLE 0 0 17,368
VANGUARD SCOTTSDALE FDS MTG-BKD SECS ETF 92206C771 739 15,452 SH SOLE 0 0 15,452
VANGUARD TAX-MANAGED INTL FD VAN FTSE DEV MKT 921943858 3,589 87,962 SH SOLE 0 0 87,962
VANGUARD WHITEHALL FDS HIGH DIV YLD 921946406 3,488 34,301 SH SOLE 0 0 34,301
VISA INC COM CL A 92826C839 753 3,827 SH SOLE 0 0 3,827
WALMART INC COM 931142103 525 4,321 SH SOLE 0 0 4,321
WARNER BROS DISCOVERY INC COM SER A 934423104 491 36,618 SH SOLE 0 0 36,618
WEC ENERGY GROUP INC COM 92939U106 485 4,821 SH SOLE 0 0 4,821
WESTERN ALLIANCE BANCORP COM 957638109 580 8,212 SH SOLE 0 0 8,212