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: Kowal Investment Group, LLC
Address: W238 N1660 BUSSE ROAD, SUITE 100
WAUKESHA , WI53188
Form 13F File Number: 028-21047

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: AARON KOWAL
Title: Chief Compliance Officer
Phone: (262) 522-4040
Signature, Place, and Date of Signing:
AARON KOWAL WAUKESHA , WI 08-12-2022
[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: 139
Form 13F Information Table Value Total: 305,309
(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
ABBOTT LABS COM 002824100 1,370 12,611 SH SOLE 0 0 12,611
AMAZON COM INC COM 023135106 1,201 11,312 SH SOLE 0 0 11,312
AMERICAN AXLE & MFG HLDGS IN COM 024061103 171 22,648 SH SOLE 0 0 22,648
APPLE INC COM 037833100 6,162 45,068 SH SOLE 0 0 45,068
BK OF AMERICA CORP COM 060505104 223 7,168 SH SOLE 0 0 7,168
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 915 3,351 SH SOLE 0 0 3,351
BRISTOL-MYERS SQUIBB CO COM 110122108 377 4,892 SH SOLE 0 0 4,892
CVS HEALTH CORP COM 126650100 403 4,348 SH SOLE 0 0 4,348
CATERPILLAR INC COM 149123101 534 2,989 SH SOLE 0 0 2,989
CHEVRON CORP NEW COM 166764100 1,093 7,548 SH SOLE 0 0 7,548
COCA COLA CO COM 191216100 661 10,509 SH SOLE 0 0 10,509
COLGATE PALMOLIVE CO COM 194162103 447 5,579 SH SOLE 0 0 5,579
DEERE & CO COM 244199105 296 988 SH SOLE 0 0 988
DISNEY WALT CO COM 254687106 292 3,088 SH SOLE 0 0 3,088
DOW INC COM 260557103 210 4,064 SH SOLE 0 0 4,064
FIRST TR MORNINGSTAR DIVID L SHS 336917109 400 11,343 SH SOLE 0 0 11,343
FISERV INC COM 337738108 766 8,606 SH SOLE 0 0 8,606
GENERAC HLDGS INC COM 368736104 414 1,964 SH SOLE 0 0 1,964
GENERAL DYNAMICS CORP COM 369550108 351 1,586 SH SOLE 0 0 1,586
GENERAL ELECTRIC CO COM NEW 369604301 402 6,313 SH SOLE 0 0 6,313
HERSHEY CO COM 427866108 231 1,075 SH SOLE 0 0 1,075
HOME DEPOT INC COM 437076102 943 3,439 SH SOLE 0 0 3,439
ILLINOIS TOOL WKS INC COM 452308109 243 1,333 SH SOLE 0 0 1,333
INTEL CORP COM 458140100 383 10,248 SH SOLE 0 0 10,248
INTERNATIONAL BUSINESS MACHS COM 459200101 302 2,140 SH SOLE 0 0 2,140
ISHARES INC MSCI EMERG MRKT 464286533 251 4,523 SH SOLE 0 0 4,523
ISHARES TR TIPS BD ETF 464287176 267 2,344 SH SOLE 0 0 2,344
ISHARES TR CORE S&P500 ETF 464287200 1,845 4,867 SH SOLE 0 0 4,867
ISHARES TR CORE US AGGBD ET 464287226 1,762 17,332 SH SOLE 0 0 17,332
ISHARES TR RUS MD CP GR ETF 464287481 245 3,087 SH SOLE 0 0 3,087
ISHARES TR CORE S&P MCP ETF 464287507 1,852 8,186 SH SOLE 0 0 8,186
ISHARES TR RUS 1000 VAL ETF 464287598 360 2,482 SH SOLE 0 0 2,482
ISHARES TR S&P MC 400GR ETF 464287606 211 3,313 SH SOLE 0 0 3,313
ISHARES TR CORE S&P SCP ETF 464287804 26,454 286,270 SH SOLE 0 0 286,270
ISHARES TR NATIONAL MUN ETF 464288414 358 3,367 SH SOLE 0 0 3,367
ISHARES TR ISHS 1-5YR INVS 464288646 291 5,752 SH SOLE 0 0 5,752
ISHARES TR EAFE VALUE ETF 464288877 507 11,689 SH SOLE 0 0 11,689
ISHARES TR EAFE GRWTH ETF 464288885 250 3,106 SH SOLE 0 0 3,106
JOHNSON & JOHNSON COM 478160104 1,591 8,961 SH SOLE 0 0 8,961
KIMBERLY-CLARK CORP COM 494368103 501 3,707 SH SOLE 0 0 3,707
LILLY ELI & CO COM 532457108 305 942 SH SOLE 0 0 942
LOCKHEED MARTIN CORP COM 539830109 345 802 SH SOLE 0 0 802
MCDONALDS CORP COM 580135101 1,270 5,145 SH SOLE 0 0 5,145
MICROSOFT CORP COM 594918104 4,153 16,172 SH SOLE 0 0 16,172
MONDELEZ INTL INC CL A 609207105 408 6,566 SH SOLE 0 0 6,566
OLD REP INTL CORP COM 680223104 224 10,000 SH SOLE 0 0 10,000
PNC FINL SVCS GROUP INC COM 693475105 265 1,683 SH SOLE 0 0 1,683
PEPSICO INC COM 713448108 836 5,016 SH SOLE 0 0 5,016
PFIZER INC COM 717081103 688 13,125 SH SOLE 0 0 13,125
PHILIP MORRIS INTL INC COM 718172109 1,192 12,069 SH SOLE 0 0 12,069
PROCTER AND GAMBLE CO COM 742718109 1,889 13,136 SH SOLE 0 0 13,136
PRUDENTIAL FINL INC COM 744320102 415 4,339 SH SOLE 0 0 4,339
ROCKWELL AUTOMATION INC COM 773903109 297 1,488 SH SOLE 0 0 1,488
SCHWAB STRATEGIC TR US LCAP VA ETF 808524409 200 3,210 SH SOLE 0 0 3,210
SCHWAB STRATEGIC TR SCHWAB FDT US LG 808524771 246 4,826 SH SOLE 0 0 4,826
SOUTHERN CO COM 842587107 354 4,969 SH SOLE 0 0 4,969
US BANCORP DEL COM NEW 902973304 908 19,729 SH SOLE 0 0 19,729
VANGUARD WORLD FD MEGA CAP VAL ETF 921910840 307 3,196 SH SOLE 0 0 3,196
VANGUARD BD INDEX FDS INTERMED TERM 921937819 200 2,571 SH SOLE 0 0 2,571
VANGUARD TAX-MANAGED INTL FD VAN FTSE DEV MKT 921943858 395 9,678 SH SOLE 0 0 9,678
VANGUARD WHITEHALL FDS HIGH DIV YLD 921946406 261 2,570 SH SOLE 0 0 2,570
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 523 1,508 SH SOLE 0 0 1,508
VANGUARD INDEX FDS TOTAL STK MKT 922908769 539 2,858 SH SOLE 0 0 2,858
WALMART INC COM 931142103 456 3,751 SH SOLE 0 0 3,751
WARNER BROS DISCOVERY INC COM SER A 934423104 162 12,071 SH SOLE 0 0 12,071
INVESCO QQQ TR UNIT SER 1 46090E103 331 1,180 SH SOLE 0 0 1,180
FIRST TR EXCHANGE-TRADED FD CAP STRENGTH ETF 33733E104 60,896 870,812 SH SOLE 0 0 870,812
AT&T INC COM 00206R102 1,322 63,050 SH SOLE 0 0 63,050
ABBVIE INC COM 00287Y109 1,715 11,194 SH SOLE 0 0 11,194
ALPHABET INC CAP STK CL C 02079K107 739 338 SH SOLE 0 0 338
ALPHABET INC CAP STK CL A 02079K305 1,044 479 SH SOLE 0 0 479
ALTRIA GROUP INC COM 02209S103 1,195 28,621 SH SOLE 0 0 28,621
BLACKROCK INC COM 09247X101 246 405 SH SOLE 0 0 405
CISCO SYS INC COM 17275R102 768 18,002 SH SOLE 0 0 18,002
COMCAST CORP NEW CL A 20030N101 337 8,597 SH SOLE 0 0 8,597
CONOCOPHILLIPS COM 20825C104 394 4,389 SH SOLE 0 0 4,389
COSTCO WHSL CORP NEW COM 22160K105 316 658 SH SOLE 0 0 658
EXXON MOBIL CORP COM 30231G102 949 11,084 SH SOLE 0 0 11,084
META PLATFORMS INC CL A 30303M102 541 3,357 SH SOLE 0 0 3,357
FIDELITY NATL INFORMATION SV COM 31620M106 1,335 14,562 SH SOLE 0 0 14,562
FIRST TR MULTI CP VAL ALPHA SHS ISSUED FRST 33733C108 382 5,835 SH SOLE 0 0 5,835
FIRST TR MULTI CAP GROWTH AL COM SHS 33733F101 2,054 22,441 SH SOLE 0 0 22,441
FIRST TR VALUE LINE DIVID IN SHS 33734H106 49,023 1,263,152 SH SOLE 0 0 1,263,152
FIRST TR LRGE CP CORE ALPHA COM SHS 33734K109 806 10,589 SH SOLE 0 0 10,589
FIRST TR EXCHANGE TRADED FD TECH ALPHADEX 33734X176 5,699 60,555 SH SOLE 0 0 60,555
FIRST TR EXCHANGE TRADED FD DJ GLBL DIVID 33734X200 432 19,889 SH SOLE 0 0 19,889
FIRST TR EXCHANGE TRADED FD INTL EQUITY OPP 33734X853 10,506 242,522 SH SOLE 0 0 242,522
FIRST TR LRG CP VL ALPHADEX COM SHS 33735J101 4,597 74,018 SH SOLE 0 0 74,018
FIRST TR EXCH TRD ALPHDX FD EUROPE ALPHADEX 33737J117 247 7,878 SH SOLE 0 0 7,878
FIRST TR EXCH TRD ALPHDX FD DEV MRK EX US 33737J174 313 6,530 SH SOLE 0 0 6,530
FIRST TR EXCHANGE-TRADED FD RISNG DIVD ACHIV 33738R506 304 7,426 SH SOLE 0 0 7,426
FIRST TR EXCH TRADED FD III MANAGD MUN ETF 33739N108 6,175 122,005 SH SOLE 0 0 122,005
FIRST TR EXCH TRADED FD III RIVR FRNT DYN 33739P707 368 6,906 SH SOLE 0 0 6,906
FIRST TR EXCHANGE-TRADED FD FST LOW OPPT EFT 33739Q200 335 6,942 SH SOLE 0 0 6,942
FIRST TR EXCHNG TRADED FD VI TCW OPPORTUNIS 33740F805 45,799 987,695 SH SOLE 0 0 987,695
FIRST TR EXCH TRADED FD III ULTRA SHT DUR MU 33740J104 276 13,823 SH SOLE 0 0 13,823
HP INC COM 40434L105 405 12,344 SH SOLE 0 0 12,344
INVESCO EXCHANGE TRADED FD T S&P500 EQL MAT 46137V316 238 1,533 SH SOLE 0 0 1,533
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 276 2,054 SH SOLE 0 0 2,054
INVESCO EXCH TRADED FD TR II S&P500 LOW VOL 46138E354 465 7,499 SH SOLE 0 0 7,499
INVESCO DB MULTI-SECTOR COMM BASE METALS FD 46140H700 238 12,240 SH SOLE 0 0 12,240
ISHARES TR US TREAS BD ETF 46429B267 407 17,029 SH SOLE 0 0 17,029
ISHARES TR FLTG RATE NT ETF 46429B655 721 14,448 SH SOLE 0 0 14,448
ISHARES TR MSCI USA MIN VOL 46429B697 239 3,408 SH SOLE 0 0 3,408
ISHARES TR 0-5 YR TIPS ETF 46429B747 469 4,624 SH SOLE 0 0 4,624
ISHARES TR CORE MSCI EAFE 46432F842 696 11,834 SH SOLE 0 0 11,834
ISHARES TR CORE TOTAL USD 46434V613 735 15,693 SH SOLE 0 0 15,693
ISHARES TR ESG AWR MSCI USA 46435G425 903 10,768 SH SOLE 0 0 10,768
JPMORGAN CHASE & CO COM 46625H100 773 6,863 SH SOLE 0 0 6,863
MERCK & CO INC COM 58933Y105 507 5,560 SH SOLE 0 0 5,560
METLIFE INC COM 59156R108 435 6,927 SH SOLE 0 0 6,927
NVIDIA CORPORATION COM 67066G104 1,023 6,749 SH SOLE 0 0 6,749
PIMCO ETF TR ACTIVE BD ETF 72201R775 742 7,785 SH SOLE 0 0 7,785
PIMCO ETF TR INTER MUN BD ACT 72201R866 443 8,598 SH SOLE 0 0 8,598
PROLOGIS INC. COM 74340W103 323 2,745 SH SOLE 0 0 2,745
SPDR S&P 500 ETF TR TR UNIT 78462F103 5,657 14,995 SH SOLE 0 0 14,995
SPDR SER TR S&P DIVID ETF 78464A763 322 2,713 SH SOLE 0 0 2,713
SPDR SER TR PORTFOLIO S&P500 78464A854 375 8,461 SH SOLE 0 0 8,461
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 473 3,690 SH SOLE 0 0 3,690
SELECT SECTOR SPDR TR ENERGY 81369Y506 283 3,953 SH SOLE 0 0 3,953
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 203 2,324 SH SOLE 0 0 2,324
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 208 1,638 SH SOLE 0 0 1,638
SKYWORKS SOLUTIONS INC COM 83088M102 368 3,973 SH SOLE 0 0 3,973
T ROWE PRICE ETF INC PRICE BLUE CHIP 87283Q107 3,380 153,865 SH SOLE 0 0 153,865
T ROWE PRICE ETF INC PRICE EQT INCOME 87283Q206 970 29,489 SH SOLE 0 0 29,489
TESLA INC COM 88160R101 620 921 SH SOLE 0 0 921
3M CO COM 88579Y101 208 1,608 SH SOLE 0 0 1,608
TRUIST FINL CORP COM 89832Q109 205 4,313 SH SOLE 0 0 4,313
UNITEDHEALTH GROUP INC COM 91324P102 492 958 SH SOLE 0 0 958
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 1,585 20,783 SH SOLE 0 0 20,783
VANGUARD SCOTTSDALE FDS VNG RUS1000GRW 92206C680 351 6,241 SH SOLE 0 0 6,241
VERIZON COMMUNICATIONS INC COM 92343V104 570 11,229 SH SOLE 0 0 11,229
VISA INC COM CL A 92826C839 971 4,930 SH SOLE 0 0 4,930
WP CAREY INC COM 92936U109 300 3,617 SH SOLE 0 0 3,617
WEC ENERGY GROUP INC COM 92939U106 2,921 29,020 SH SOLE 0 0 29,020
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 277 997 SH SOLE 0 0 997
EATON CORP PLC SHS G29183103 635 5,041 SH SOLE 0 0 5,041
HORIZON THERAPEUTICS PUB L SHS G46188101 1,291 16,192 SH SOLE 0 0 16,192
WILLIS TOWERS WATSON PLC LTD SHS G96629103 789 3,999 SH SOLE 0 0 3,999