diff --git a/clang/lib/Driver/ToolChains/Clang.cpp b/clang/lib/Driver/ToolChains/Clang.cpp
--- a/clang/lib/Driver/ToolChains/Clang.cpp
+++ b/clang/lib/Driver/ToolChains/Clang.cpp
@@ -7876,7 +7876,7 @@
   if (Args.hasArg(options::OPT__SLASH_kernel))
     CmdArgs.push_back("-fms-kernel");
 
-  if (Arg *A = Args.getLastArg(options::OPT__SLASH_guard)) {
+  for (const Arg *A : Args.filtered(options::OPT__SLASH_guard)) {
     StringRef GuardArgs = A->getValue();
     // The only valid options are "cf", "cf,nochecks", "cf-", "ehcont" and
     // "ehcont-".
@@ -7895,6 +7895,7 @@
     } else {
       D.Diag(diag::err_drv_invalid_value) << A->getSpelling() << GuardArgs;
     }
+    A->claim();
   }
 }
 
diff --git a/clang/lib/Driver/ToolChains/MSVC.cpp b/clang/lib/Driver/ToolChains/MSVC.cpp
--- a/clang/lib/Driver/ToolChains/MSVC.cpp
+++ b/clang/lib/Driver/ToolChains/MSVC.cpp
@@ -227,7 +227,7 @@
   Args.AddAllArgValues(CmdArgs, options::OPT__SLASH_link);
 
   // Control Flow Guard checks
-  if (Arg *A = Args.getLastArg(options::OPT__SLASH_guard)) {
+  for (const Arg *A : Args.filtered(options::OPT__SLASH_guard)) {
     StringRef GuardArgs = A->getValue();
     if (GuardArgs.equals_insensitive("cf") ||
         GuardArgs.equals_insensitive("cf,nochecks")) {
diff --git a/clang/test/Driver/cl-options.c b/clang/test/Driver/cl-options.c
--- a/clang/test/Driver/cl-options.c
+++ b/clang/test/Driver/cl-options.c
@@ -647,6 +647,13 @@
 // RUN: %clang_cl /guard:ehcont -### -- %s 2>&1 | FileCheck -check-prefix=EHCONTGUARD %s
 // EHCONTGUARD: -ehcontguard
 
+// RUN: %clang_cl /guard:cf /guard:ehcont -Wall -Wno-msvc-not-found -### -- %s 2>&1 | \
+// RUN:   FileCheck -check-prefix=BOTHGUARD %s --implicit-check-not=warning
+// BOTHGUARD: -cfguard
+// BOTHGUARD-SAME: -ehcontguard
+// BOTHGUARD: -guard:cf
+// BOTHGUARD-SAME: -guard:ehcont
+
 // RUN: %clang_cl /guard:foo -### -- %s 2>&1 | FileCheck -check-prefix=CFGUARDINVALID %s
 // CFGUARDINVALID: invalid value 'foo' in '/guard:'