# EDGAR Filing Document

**Accession Number:** 0001061555
**File Stem:** 0002085853-26-000269
**Filing Date:** 2026-2
**Character Count:** 14322
**Document Hash:** 3ef6f7b5f16e09f68eb7025698512496
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002085853-26-000269.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0002085853-26-000269

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CAPITAL FINANCIAL GROUP INC\CO\ /ADV
- **CENTRAL INDEX KEY:** 0001061555

**ORGANIZATION NAME:**
- **EIN:** 841443990
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26406
- **FILM NUMBER:** 26635060

**BUSINESS ADDRESS:**
- **STREET 1:** 8400 E PRENTICE AVENUE
- **STREET 2:** SUITE 1100
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111
- **BUSINESS PHONE:** 3036297500

**MAIL ADDRESS:**
- **STREET 1:** 8400 E PRENTICE AVENUE
- **STREET 2:** SUITE 1100
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAPITAL FINANCIAL GROUP INC\CO\                         /ADV
- **DATE OF NAME CHANGE:** 19980512

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** CAPITAL FINANCIAL GROUP INC\CO\ /ADV<br>**Address:** 8400 E PRENTICE AVENUE<br>SUITE 1100<br>GREENWOOD VILLAGE, CO 80111

**Form 13F File Number:** 028-26406

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:** Alexander Leonida<br>**Title:** Chief Compliance Officer<br>**Phone:** 303-629-7500

**Signature, Place, and Date of Signing:**

/s/ Alexander Leonida  Greenwood Village, CO  02-13-2026<br>[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 are reported 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:** 105

**Form 13F Information Table Value Total:** $179283700

      (round to nearest dollar)

**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**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 1035687 | 6469 | SH |  | SOLE |  | 135 | 0 | 6334 |
| AEROVIRONMENT INC | COM | 008073108 |  | 290268 | 1200 | SH |  | SOLE |  | 0 | 0 | 1200 |
| ALLY FINL INC | COM | 02005N100 |  | 477131 | 10535 | SH |  | SOLE |  | 0 | 0 | 10535 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 761529 | 2433 | SH |  | SOLE |  | 0 | 0 | 2433 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 1280685 | 22211 | SH |  | SOLE |  | 312 | 0 | 21899 |
| AMAZON COM INC | COM | 023135106 |  | 566662 | 2455 | SH |  | SOLE |  | 0 | 0 | 2455 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 351147 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| APPLE INC | COM | 037833100 |  | 5096832 | 18748 | SH |  | SOLE |  | 115 | 0 | 18633 |
| AT INC | COM | 00206R102 |  | 458050 | 18440 | SH |  | SOLE |  | 0 | 0 | 18440 |
| AVNET INC | COM | 053807103 |  | 340744 | 7087 | SH |  | SOLE |  | 0 | 0 | 7087 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 702462 | 16130 | SH |  | SOLE |  | 0 | 0 | 16130 |
| BLACK HILLS CORP | COM | 092113109 |  | 1523774 | 21950 | SH |  | SOLE |  | 238 | 0 | 21712 |
| BOEING CO | COM | 097023105 |  | 309396 | 1425 | SH |  | SOLE |  | 0 | 0 | 1425 |
| BOYD GAMING CORP | COM | 103304101 |  | 204576 | 2400 | SH |  | SOLE |  | 0 | 0 | 2400 |
| BRINKS CO | COM | 109696104 |  | 239412 | 2051 | SH |  | SOLE |  | 0 | 0 | 2051 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 660393 | 12243 | SH |  | SOLE |  | 289 | 0 | 11954 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 297084 | 1848 | SH |  | SOLE |  | 0 | 0 | 1848 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 918063 | 30061 | SH |  | SOLE |  | 0 | 0 | 30061 |
| CATERPILLAR INC | COM | 149123101 |  | 561984 | 981 | SH |  | SOLE |  | 0 | 0 | 981 |
| CHEVRON CORP NEW | COM | 166764100 |  | 2003738 | 13147 | SH |  | SOLE |  | 108 | 0 | 13039 |
| CHEWY INC | CL A | 16679L109 |  | 297616 | 9005 | SH |  | SOLE |  | 0 | 0 | 9005 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 749375 | 869 | SH |  | SOLE |  | 0 | 0 | 869 |
| CUBESMART | COM | 229663109 |  | 370233 | 10270 | SH |  | SOLE |  | 0 | 0 | 10270 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 290843 | 7940 | SH |  | SOLE |  | 0 | 0 | 7940 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 527512 | 3509 | SH |  | SOLE |  | 80 | 0 | 3429 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 492778 | 14300 | SH |  | SOLE |  | 0 | 0 | 14300 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1889097 | 15698 | SH |  | SOLE |  | 121 | 0 | 15577 |
| FIRST TR EXCH TRADED FD III | MUNI HI INCM ETF | 33739P301 |  | 1892162 | 39474 | SH |  | SOLE |  | 0 | 0 | 39474 |
| FIRST TR EXCH TRADED FD III | SHRT DUR MNG MUN | 33739P830 |  | 609368 | 30400 | SH |  | SOLE |  | 0 | 0 | 30400 |
| FIRST TR EXCH TRADED FD III | MANAGD MUN ETF | 33739N108 |  | 2861009 | 55950 | SH |  | SOLE |  | 0 | 0 | 55950 |
| FIRST TR EXCH TRADED FD III | ULTRA SHT DUR MU | 33740J104 |  | 1687025 | 84099 | SH |  | SOLE |  | 0 | 0 | 84099 |
| FIRST TR EXCHANGE TRAD FD VI | FST TR GLB FD | 33739H101 |  | 496747 | 21384 | SH |  | SOLE |  | 0 | 0 | 21384 |
| FIRST TR EXCHANGE-TRADED FD | SMID RISNG ETF | 33741X102 |  | 2602885 | 67925 | SH |  | SOLE |  | 0 | 0 | 67925 |
| FIRST TR EXCHANGE-TRADED FD | NO AMER ENERGY | 33738D101 |  | 241876 | 6387 | SH |  | SOLE |  | 0 | 0 | 6387 |
| FIRST TR EXCHNG TRADED FD VI | SMITH OPPORT FXD | 33740F805 |  | 4856780 | 109584 | SH |  | SOLE |  | 777 | 0 | 108807 |
| FRANCO NEV CORP | COM | 351858105 |  | 274854 | 1326 | SH |  | SOLE |  | 0 | 0 | 1326 |
| FRANKLIN TEMPLETON ETF TR | SYSTMTC STYL PRE | 35473P546 |  | 1748354 | 64970 | SH |  | SOLE |  | 688 | 0 | 64282 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 358879 | 1066 | SH |  | SOLE |  | 0 | 0 | 1066 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1622502 | 13219 | SH |  | SOLE |  | 226 | 0 | 12993 |
| GOLDMAN SACHS ETF TR | ACCES TREASURY | 381430529 |  | 3796025 | 37983 | SH |  | SOLE |  | 0 | 0 | 37983 |
| GOLDMAN SACHS ETF TR | ACCESS INVT GR | 381430479 |  | 3893581 | 84185 | SH |  | SOLE |  | 425 | 0 | 83760 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA INT | 381430107 |  | 12602532 | 293492 | SH |  | SOLE |  | 0 | 0 | 293492 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA US | 381430602 |  | 5113180 | 67608 | SH |  | SOLE |  | 0 | 0 | 67608 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 451806 | 514 | SH |  | SOLE |  | 0 | 0 | 514 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1899032 | 6411 | SH |  | SOLE |  | 67 | 0 | 6344 |
| IRON MTN INC DEL | COM | 46284V101 |  | 1409739 | 16995 | SH |  | SOLE |  | 182 | 0 | 16813 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 509459 | 10261 | SH |  | SOLE |  | 0 | 0 | 10261 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 3107270 | 31110 | SH |  | SOLE |  | 389 | 0 | 30721 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 5062860 | 76710 | SH |  | SOLE |  | 0 | 0 | 76710 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 1701124 | 15882 | SH |  | SOLE |  | 0 | 0 | 15882 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 3057771 | 27750 | SH |  | SOLE |  | 116 | 0 | 27634 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 1443816 | 33679 | SH |  | SOLE |  | 0 | 0 | 33679 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 12269612 | 130306 | SH |  | SOLE |  | 0 | 0 | 130306 |
| ISHARES TR | 0-5YR INVT GR CP | 46434V100 |  | 1834486 | 36183 | SH |  | SOLE |  | 389 | 0 | 35794 |
| ISHARES TR | INTL SEL DIV ETF | 464288448 |  | 243920 | 6183 | SH |  | SOLE |  | 343 | 0 | 5840 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 3266710 | 15785 | SH |  | SOLE |  | 158 | 0 | 15627 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 4930966 | 15303 | SH |  | SOLE |  | 92 | 0 | 15211 |
| KRANESHARES TRUST | QUADRATIC DEFLAI | 500767181 |  | 537167 | 5609 | SH |  | SOLE |  | 137 | 0 | 5472 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 770036 | 2623 | SH |  | SOLE |  | 57 | 0 | 2566 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 364440 | 5599 | SH |  | SOLE |  | 0 | 0 | 5599 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 1887769 | 3903 | SH |  | SOLE |  | 39 | 0 | 3864 |
| MCDONALDS CORP | COM | 580135101 |  | 459374 | 1503 | SH |  | SOLE |  | 0 | 0 | 1503 |
| MICROSOFT CORP | COM | 594918104 |  | 655804 | 1356 | SH |  | SOLE |  | 0 | 0 | 1356 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 1198083 | 23715 | SH |  | SOLE |  | 0 | 0 | 23715 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 484236 | 5785 | SH |  | SOLE |  | 0 | 0 | 5785 |
| NEWMONT CORP | COM | 651639106 |  | 2492957 | 24967 | SH |  | SOLE |  | 300 | 0 | 24667 |
| NIKE INC | CL B | 654106103 |  | 856009 | 13436 | SH |  | SOLE |  | 0 | 0 | 13436 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 1868000 | 13549 | SH |  | SOLE |  | 125 | 0 | 13424 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 293799 | 1595 | SH |  | SOLE |  | 0 | 0 | 1595 |
| PERRIGO CO PLC | SHS | G97822103 |  | 253937 | 18243 | SH |  | SOLE |  | 527 | 0 | 17716 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 1048384 | 21141 | SH |  | SOLE |  | 0 | 0 | 21141 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1133387 | 7066 | SH |  | SOLE |  | 128 | 0 | 6938 |
| POET TECHNOLOGIES INC | COM NEW | 73044W302 |  | 72795 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 716117 | 4997 | SH |  | SOLE |  | 79 | 0 | 4918 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 857655 | 3305 | SH |  | SOLE |  | 44 | 0 | 3261 |
| RBB FD INC | US TREAS 3 MNTH | 74933W452 |  | 2206435 | 44235 | SH |  | SOLE |  | 375 | 0 | 43860 |
| RED ROCK RESORTS INC | CL A | 75700L108 |  | 1588770 | 25646 | SH |  | SOLE |  | 213 | 0 | 25433 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 1344698 | 6345 | SH |  | SOLE |  | 46 | 0 | 6299 |
| RH | COM | 74967X103 |  | 398073 | 2222 | SH |  | SOLE |  | 0 | 0 | 2222 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 583632 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 682800 | 28403 | SH |  | SOLE |  | 0 | 0 | 28403 |
| SIMPLIFY EXCHANGE TRADED FUN | MANAGED FUTURES | 82889N699 |  | 1521053 | 55798 | SH |  | SOLE |  | 328 | 0 | 55470 |
| SMITHFIELD FOODS INC | COM | 832248207 |  | 229173 | 10263 | SH |  | SOLE |  | 0 | 0 | 10263 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 5928510 | 126650 | SH |  | SOLE |  | 0 | 0 | 126650 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A847 |  | 484109 | 8360 | SH |  | SOLE |  | 73 | 0 | 8287 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A649 |  | 3324780 | 129117 | SH |  | SOLE |  | 582 | 0 | 128535 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 18509939 | 230740 | SH |  | SOLE |  | 263 | 0 | 230477 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R853 |  | 429225 | 9160 | SH |  | SOLE |  | 84 | 0 | 9076 |
| SSGA ACTIVE ETF TR | STATE STREET DOU | 78467V848 |  | 3188015 | 79205 | SH |  | SOLE |  | 0 | 0 | 79205 |
| T-MOBILE US INC | COM | 872590104 |  | 384559 | 1894 | SH |  | SOLE |  | 0 | 0 | 1894 |
| TEXTRON INC | COM | 883203101 |  | 462089 | 5301 | SH |  | SOLE |  | 0 | 0 | 5301 |
| THE REALREAL INC | COM | 88339P101 |  | 621148 | 39363 | SH |  | SOLE |  | 0 | 0 | 39363 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 523336 | 2504 | SH |  | SOLE |  | 0 | 0 | 2504 |
| TOTALENERGIES SE | ACT | F92124100 |  | 388269 | 5935 | SH |  | SOLE |  | 0 | 0 | 5935 |
| UL SOLUTIONS INC | CLASS A COM SHS | 903731107 |  | 242495 | 3075 | SH |  | SOLE |  | 0 | 0 | 3075 |
| UNILEVER PLC | SPON ADR NEW | 904767803 |  | 1181860 | 18071 | SH |  | SOLE |  | 137 | 0 | 17934 |
| UNION PAC CORP | COM | 907818108 |  | 926438 | 4005 | SH |  | SOLE |  | 50 | 0 | 3955 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 1325180 | 13360 | SH |  | SOLE |  | 85 | 0 | 13275 |
| VANECK ETF TRUST | SHRT HGH YLD MUN | 92189F387 |  | 409310 | 17866 | SH |  | SOLE |  | 0 | 0 | 17866 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1510383 | 37083 | SH |  | SOLE |  | 515 | 0 | 36568 |
| VISA INC | COM CL A | 92826C839 |  | 1084747 | 3093 | SH |  | SOLE |  | 0 | 0 | 3093 |
| WALMART INC | COM | 931142103 |  | 981088 | 8806 | SH |  | SOLE |  | 0 | 0 | 8806 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 2949877 | 34554 | SH |  | SOLE |  | 348 | 0 | 34206 |
| WYNN RESORTS LTD | COM | 983134107 |  | 672768 | 5591 | SH |  | SOLE |  | 0 | 0 | 5591 |
| XYLEM INC | COM | 98419M100 |  | 707591 | 5196 | SH |  | SOLE |  | 0 | 0 | 5196 |

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