Vanguard Capital Management, LLC

Registered investment adviser · Malvern, PA · CRD #338002

Form ADV data as of 2026-09-01

Regulatory assets

$8.44 trillion

Total accounts

128

Employees

235

Disclosure events

106

Firm details

Telephone: 610-669-1000
SEC file number: 801-134586
Most recent Form ADV filing: 2026-07-17
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 6 disclosure questions answered Yes, covering 106 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Another regulator found a violation of investment-related regulations or statutes
Another regulator entered an order in connection with investment-related activity (past 10 years)
A court dismissed an investment-related civil action under a settlement agreement

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$8.44 trillion
Non-discretionary regulatory assets under management	$0
Total regulatory assets under management	$8.44 trillion
Discretionary accounts	128
Non-discretionary accounts	0
Total accounts	128
Regulatory assets under management attributable to non-U.S. persons	$0

People

Total employees (excluding clerical)	235
Employees performing investment advisory functions (including research)	235
Employees who are registered representatives of a broker-dealer	0
Employees registered as investment adviser representatives with a state	0
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	0
Firms or persons who solicit advisory clients on the firm's behalf	0

Custody

Has custody of client cash or bank accounts	No
Has custody of client securities	No
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	No
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No

How the firm is compensated

A percentage of assets under managementOther

Advisory services offered

Portfolio management for investment companiesSelection of other advisers (including private fund managers)

Other business activities

Commodity pool operator or commodity trading advisor

Affiliated related persons

Broker-dealer, municipal securities dealer, or government securities broker or dealerOther investment adviser (including financial planners)Registered municipal advisorCommodity pool operator or commodity trading advisorBanking or thrift institutionTrust companyInsurance company or agencyPension consultantSponsor, general partner, or managing member of pooled investment vehicles

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Recommends brokers or dealers to clients
Provides employee compensation specifically for obtaining clients

Client types

Type of client	Clients	Assets
Investment companies	128	$8.44 trillion