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:
09-30-2025
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:
Vanguard Capital Wealth Advisors
Address:
999 18TH STREET UNIT 3000
DENVER, CO 80202
Form 13F File Number:
028-18625

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:
Vincent Polivka
Title:
Managing Partner/CCO
Phone:
844-861-7504


Signature, Place, and Date of Signing:

/s/Vincent Polivka
                         [Signature]
Denver, COLORADO
                 [City, State]
10-30-2025
                           [Date]
                          

Report Type (Check only one.):

☒ 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:
134
Form 13F Information table Value Total:
125057914
          (thousands)

Confidential information has been omitted from the public Form 13F report and filed separately with the Commission.

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.]

  
NONE


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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
3M COCOM88579Y101769,1684,957SHSOLE 0 0 4,957
ABBVIE INCCOM00287Y109955,7114,128SHSOLE 0 0 4,128
ABRDN EMERGING MARKETS EX CHCOM00301W1054,192,463646,985SHSOLE 0 0 646,985
ABRDN PLATINUM ETF TRUSTPHYSCL PLATM SHS003260106871,7116,101SHSOLE 0 0 6,101
ABRDN TOTAL DYNAMIC DIVIDENDCOM SH BEN INT00326L100310,64132,837SHSOLE 0 0 32,837
ADVANCED MICRO DEVICES INCCOM007903107218,4171,350SHSOLE 0 0 1,350
ADVENT CONV & INCOME FDCOM00764C109259,48320,288SHSOLE 0 0 20,288
ADVISORSHARES TRRANGER EQUITY BE00768Y4121,990,604121,453SHSOLE 0 0 121,453
AGNC INVT CORPCOM00123Q104176,22018,000SHSOLE 0 0 18,000
ALIBABA GROUP HLDG LTDSPONSORED ADS01609W102428,9522,400SHSOLE 0 0 2,400
ALLIANCEBERNSTEIN GLOBAL HIGCOM01879R106504,45045,000SHSOLE 0 0 45,000
ALPHABET INCCAP STK CL A02079K3051,162,7474,783SHSOLE 0 0 4,783
ALPHABET INCCAP STK CL C02079K1074,078,00416,744SHSOLE 0 0 16,744
ALTRIA GROUP INCCOM02209S103222,0383,361SHSOLE 0 0 3,361
AMAZE HOLDINGS INCCOM35804X20032,46013,696SHSOLE 0 0 13,696
AMAZON COM INCCOM0231351066,317,46828,772SHSOLE 0 0 28,772
AMERESCO INCCL A02361E108503,70015,000SHSOLE 0 0 15,000
AMPHENOL CORP NEWCL A032095101853,8756,900SHSOLE 0 0 6,900
APPLE INCCOM03783310014,111,43255,420SHSOLE 0 0 55,420
APPLIED MATLS INCCOM038222105583,5092,850SHSOLE 0 0 2,850
ARROWHEAD PHARMACEUTICALS INCOM04280A100389,22011,285SHSOLE 0 0 11,285
BAKER HUGHES COMPANYCL A05722G100521,30410,700SHSOLE 0 0 10,700
BANK AMERICA CORP7.25%CNV PFD L060505682300,800235SHSOLE 0 0 235
BANK AMERICA CORPCOM0605051041,525,12129,562SHSOLE 0 0 29,562
BARCLAYS BANK PLCIPATH S&P 500 SH06748M1961,217,40336,713SHSOLE 0 0 36,713
BARRICK MNG CORPCOM SHS06849F108402,25212,275SHSOLE 0 0 12,275
BERKSHIRE HATHAWAY INC DELCL B NEW084670702966,7691,923SHSOLE 0 0 1,923
BLACKROCK ENHANCED LARGE CAPCOM09256A109276,00012,000SHSOLE 0 0 12,000
BLACKSTONE INCCOM09260D107415,6782,433SHSOLE 0 0 2,433
BOEING COCOM0970231051,717,1447,956SHSOLE 0 0 7,956
BRISTOL-MYERS SQUIBB COCOM110122108300,8596,671SHSOLE 0 0 6,671
BROADCOM INCCOM11135F1012,993,2309,073SHSOLE 0 0 9,073
CAMBRIA ETF TRGLOBAL VALUE ETF132061409262,0418,965SHSOLE 0 0 8,965
CAMECO CORPCOM13321L1081,659,92519,794SHSOLE 0 0 19,794
CATERPILLAR INCCOM1491231011,707,3353,578SHSOLE 0 0 3,578
CHEVRON CORP NEWCOM166764100319,5872,058SHSOLE 0 0 2,058
CHIPOTLE MEXICAN GRILL INCCOM169656105246,8976,300SHSOLE 0 0 6,300
CIA ENERGETICA DE MINAS GERASP ADR N-V PFD20440960174,48335,300SHSOLE 0 0 35,300
CITIGROUP INCCOM NEW172967424327,8783,230SHSOLE 0 0 3,230
COHEN & STEERS QUALITY INCOMCOM19247L106303,02124,300SHSOLE 0 0 24,300
COLUMBIA BKG SYS INCCOM197236102353,28213,725SHSOLE 0 0 13,725
CONOCOPHILLIPSCOM20825C104501,3275,300SHSOLE 0 0 5,300
CONSTELLATION BRANDS INCCL A21036P108418,8323,110SHSOLE 0 0 3,110
COREWEAVE INCCOM CL A21873S108745,8345,450SHSOLE 0 0 5,450
COSTCO WHSL CORP NEWCOM22160K105235,426254SHSOLE 0 0 254
CYBERARK SOFTWARE LTDSHSM2682V108217,418450SHSOLE 0 0 450
DECKERS OUTDOOR CORPCOM243537107364,9323,600SHSOLE 0 0 3,600
DELL TECHNOLOGIES INCCL C24703L202255,1861,800SHSOLE 0 0 1,800
DISNEY WALT COCOM254687106273,5272,389SHSOLE 0 0 2,389
DOMINION ENERGY INCCOM25746U109691,22111,300SHSOLE 0 0 11,300
DOORDASH INCCL A25809K105271,9901,000SHSOLE 0 0 1,000
EATON CORP PLCSHSG29183103224,550600SHSOLE 0 0 600
EATON VANCE CALIF MUN BD FDCOM27828A100189,80020,000SHSOLE 0 0 20,000
ELI LILLY & COCOM532457108522,655685SHSOLE 0 0 685
ENERGY TRANSFER L PCOM UT LTD PTN29273V100171,77210,010SHSOLE 0 0 10,010
EXXON MOBIL CORPCOM30231G102494,0714,382SHSOLE 0 0 4,382
FREEPORT-MCMORAN INCCL B35671D857517,70413,200SHSOLE 0 0 13,200
GAMCO GLOBAL GOLD NAT RES &COM SH BEN INT36465A109129,36425,094SHSOLE 0 0 25,094
GILEAD SCIENCES INCCOM375558103209,3681,886SHSOLE 0 0 1,886
GLOBAL X FDSGLOBAL X SILVER37954Y8481,065,41014,874SHSOLE 0 0 14,874
GLOBAL X FDSNASDAQ 100 COVER37954Y483393,93023,159SHSOLE 0 0 23,159
GOLDMAN SACHS GROUP INCCOM38141G104219,294275SHSOLE 0 0 275
GRAYSCALE ETHEREUM TRUST ETFSHS389638107293,0098,550SHSOLE 0 0 8,550
HANCOCK JOHN PFD INCOME FD ICOM41013X106323,52019,200SHSOLE 0 0 19,200
HOME DEPOT INCCOM437076102222,855550SHSOLE 0 0 550
HONEYWELL INTL INCCOM438516106316,3861,503SHSOLE 0 0 1,503
IDACORP INCCOM451107106283,4842,145SHSOLE 0 0 2,145
INTEL CORPCOM458140100647,14619,289SHSOLE 0 0 19,289
INTERNATIONAL BUSINESS MACHSCOM459200101270,874960SHSOLE 0 0 960
INVESCO CALIF VALUE MUN INCOCOM46132H106211,80020,000SHSOLE 0 0 20,000
INVESCO QQQ TRUNIT SER 146090E103459,283765SHSOLE 0 0 765
ISHARES GOLD TRISHARES NEW4642852041,870,33525,702SHSOLE 0 0 25,702
ISHARES SILVER TRISHARES46428Q1093,361,46679,336SHSOLE 0 0 79,336
ISHARES TR20 YR TR BD ETF464287432347,2853,886SHSOLE 0 0 3,886
ISHARES TR7-10 YR TRSY BD464287440456,0634,728SHSOLE 0 0 4,728
ISHARES TRMSCI EAFE ETF4642874651,370,20514,675SHSOLE 0 0 14,675
JOHNSON & JOHNSONCOM478160104228,6231,233SHSOLE 0 0 1,233
JPMORGAN CHASE & CO.COM46625H100690,1522,188SHSOLE 0 0 2,188
KB HOMECOM48666K109328,7645,166SHSOLE 0 0 5,166
KINDER MORGAN INC DELCOM49456B101203,5487,190SHSOLE 0 0 7,190
KKR INCOME OPPORTUNITIES FDCOM48249T106378,00030,000SHSOLE 0 0 30,000
KOREA ELEC PWR CORPSPONSORED ADR500631106157,25312,050SHSOLE 0 0 12,050
LITHIUM AMERS CORP NEWCOM SHS53681J10364,06611,220SHSOLE 0 0 11,220
MARATHON PETE CORPCOM56585A102341,6581,773SHSOLE 0 0 1,773
MARRIOTT VACATIONS WORLDWIDECOM57164Y107266,7064,007SHSOLE 0 0 4,007
MASTERCARD INCORPORATEDCL A57636Q104207,654365SHSOLE 0 0 365
MCDONALDS CORPCOM580135101988,7813,254SHSOLE 0 0 3,254
META PLATFORMS INCCL A30303M1022,822,2813,843SHSOLE 0 0 3,843
MGM RESORTS INTERNATIONALCOM552953101765,98622,100SHSOLE 0 0 22,100
MICRON TECHNOLOGY INCCOM5951121032,108,23212,600SHSOLE 0 0 12,600
MICROSOFT CORPCOM5949181041,679,2113,242SHSOLE 0 0 3,242
MIZUHO FINANCIAL GROUP INCSPONSORED ADR60687Y109124,23818,543SHSOLE 0 0 18,543
MOBIX LABS INC*W EXP 99/99/99960743G1181,80020,000SHSOLE 0 0 20,000
MOBIX LABS INCCOM CL A60743G1001,071,0781,328,716SHSOLE 0 0 1,328,716
MORGAN STANLEYCOM NEW6174464482,155,65713,561SHSOLE 0 0 13,561
MP MATERIALS CORPCOM CL A553368101700,94910,451SHSOLE 0 0 10,451
NAUTILUS BIOTECHNOLOGY INCCOM63909J10811,40613,500SHSOLE 0 0 13,500
NETFLIX INCCOM64110L1061,019,082850SHSOLE 0 0 850
NORWEGIAN CRUISE LINE HLDG LSHSG66721104785,69731,900SHSOLE 0 0 31,900
NOVARTIS AGSPONSORED ADR66987V109275,7162,150SHSOLE 0 0 2,150
NVIDIA CORPORATIONCOM67066G1049,475,35050,784SHSOLE 0 0 50,784
ORACLE CORPCOM68389X105633,6342,253SHSOLE 0 0 2,253
PACER FDS TRDEVELOPED MRKT69374H873342,9259,416SHSOLE 0 0 9,416
PALO ALTO NETWORKS INCCOM6974351051,575,0017,735SHSOLE 0 0 7,735
PAN AMERN SILVER CORPCOM697900108268,2446,926SHSOLE 0 0 6,926
PFIZER INCCOM717081103278,36910,925SHSOLE 0 0 10,925
PHILIP MORRIS INTL INCCOM718172109564,5513,480SHSOLE 0 0 3,480
PHILLIPS 66COM7185461041,046,7137,695SHSOLE 0 0 7,695
PIMCO ETF TR15+ YR US TIPS72201R304512,0399,611SHSOLE 0 0 9,611
PIMCO INCOME STRATEGY FD IICOM72201J104227,70030,000SHSOLE 0 0 30,000
PROCTER AND GAMBLE COCOM742718109593,9243,866SHSOLE 0 0 3,866
QUALCOMM INCCOM747525103316,0841,900SHSOLE 0 0 1,900
SCHLUMBERGER LTDCOM STK806857108512,11314,900SHSOLE 0 0 14,900
SCHWAB STRATEGIC TRFUNDAMENTAL US B808524789510,73119,842SHSOLE 0 0 19,842
SCHWAB STRATEGIC TRUS BRD MKT ETF808524102567,42422,071SHSOLE 0 0 22,071
SCHWAB STRATEGIC TRUS DIVIDEND EQ808524797998,20836,565SHSOLE 0 0 36,565
SCHWAB STRATEGIC TRUS LCAP GR ETF808524300592,67818,574SHSOLE 0 0 18,574
SCHWAB STRATEGIC TRUS LCAP VA ETF8085244091,238,14842,533SHSOLE 0 0 42,533
SCHWAB STRATEGIC TRUS LRG CAP ETF8085242011,425,34454,114SHSOLE 0 0 54,114
SIBANYE STILLWATER LTDSPONSORED ADR82575P107265,97223,663SHSOLE 0 0 23,663
SPDR GOLD TRGOLD SHS78463V107459,2681,292SHSOLE 0 0 1,292
SYNCHRONY FINANCIALCOM87165B103245,8423,460SHSOLE 0 0 3,460
TESLA INCCOM88160R1011,391,9743,130SHSOLE 0 0 3,130
UNITED RENTALS INCCOM9113631095,074,9735,316SHSOLE 0 0 5,316
UNITED STS NAT GAS FD LPUNIT PAR912318409437,84533,500SHSOLE 0 0 33,500
UNITEDHEALTH GROUP INCCOM91324P102713,7532,067SHSOLE 0 0 2,067
URANIUM ENERGY CORPCOM916896103580,29043,500SHSOLE 0 0 43,500
VALERO ENERGY CORPCOM91913Y100377,1262,215SHSOLE 0 0 2,215
VANECK ETF TRUSTGOLD MINERS ETF92189F1061,798,07423,535SHSOLE 0 0 23,535
VERITONE INCCOM92347M100310,16764,350SHSOLE 0 0 64,350
VERIZON COMMUNICATIONS INCCOM92343V104283,8986,460SHSOLE 0 0 6,460
VERTEX PHARMACEUTICALS INCCOM92532F100207,569530SHSOLE 0 0 530
VIRTUS DIVIDEND INTEREST & PCOM92840R101160,45012,333SHSOLE 0 0 12,333
VISA INCCOM CL A92826C839324,391950SHSOLE 0 0 950