ASHFORD CAPITAL MANAGEMENT INC

CIK 897070 · View on SEC EDGAR ↗

Portfolio value
$809.2M
#2,810 of 9,443 by 13F value · top 29.8%
Positions
99
As of
March 31, 2026 Data as of Q1 2026

Portfolio value QoQ: -9.9% 13F does not disclose cash

Top 10 holdings weight
39.85%
Top 25 holdings weight
70.77%
Positions above 1%
31
Effective number of positions
37.8

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q1 2026: 14.49% Est. buys $123,621,494 · sells $149,410,710

Median holding: 5.0 quarters Tracked Q4 2024–Q1 2026 · 66.0% still held

New positions
8
Increased
40
Decreased
28
Closed
18
On this page

Performance vs S&P 500

Tracked Q4 2024–Q1 2026
+5.0%
S&P 500 total return (same window)
+11.5%
Excess return
-6.5%

Annualized: +4.0% · S&P 500: +9.2%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 88.4% · Options excluded: 0.0%

Sector breakdown

Healthcare
19.9%
Technology
18.1%
Industrials
8.1%
Telecommunication
7.7%
Real Estate
6.2%
Financials
5.1%
Materials
4.8%
Financial Services
4.7%
Energy
4.3%
Consumer products
2.8%
Consumer Discretionary
2.5%
Communication Services
1.6%
Retail
0.6%
Consumer Staples
0.1%
Other/Unmapped
13.6%

Full portfolio 99 positions

Type Streak 8Q trend
GSAT Globalstar, Inc. - Common Stock $60,278,209 7.45% 907,531 $-700,446 Down ×2
LGND Ligand Pharmaceuticals Incorporated - Common Stock $41,440,352 5.12% 207,565 $1,021,346 Down ×3
SNEX StoneX Group Inc. - Common Stock $37,633,710 4.65% 466,630 $9,253,672 Up ×1
SUPN Supernus Pharmaceuticals, Inc. - Common Stock $33,359,744 4.12% 645,381 $2,916,605 Up ×2
VTI $30,686,760 3.79% 95,654 $-770,618 Up ×2
YOU Clear Secure, Inc. Class A Common Stock $25,815,504 3.19% 533,268 $16,342,150 Up ×1
CLBT Cellebrite DI Ltd. - Ordinary Shares $24,293,272 3.00% 1,762,937 $-5,832,063 Up ×1
RDVT Red Violet, Inc. - Common Stock $23,763,834 2.94% 686,816 $-10,566,651 Up ×2
EQIX Equinix, Inc. - Common Stock $22,913,110 2.83% 23,375 $4,966,578 Down ×3
HQY HealthEquity, Inc. - Common Stock $22,269,817 2.75% 266,481 $-2,622,727 Down ×3
UFPT UFP Technologies, Inc. - Common Stock $20,910,736 2.58% 108,010 $-550,684 Up ×3
FNV Franco-Nevada Corporation $20,164,468 2.49% 81,621 $1,538,909 Down ×5
VOXR Vox Royalty Corp. - common stock $18,795,356 2.32% 3,586,900 $3,853,122 Up ×2
VICR Vicor Corporation - Common Stock $18,279,135 2.26% 113,535 $-20,503,483 Down ×1
AYI Acuity Inc. Common Stock $17,804,899 2.20% 63,539 $-5,857,650 Down ×1
LB LandBridge Company LLC Class A Shares Representing Limited Liability Company Interests $17,161,687 2.12% 248,540 Up ×1
SKWD Skyward Specialty Insurance Group, Inc. - Common Stock $17,049,702 2.11% 390,332 $-2,765,747 Up ×1
IDCC InterDigital, Inc. - Common Stock $16,828,648 2.08% 55,724 $7,465,729 Up ×1
VNOM Viper Energy, Inc. - Class A Common Stock $16,102,533 1.99% 342,680 Up ×1
BRKA $15,799,080 1.95% 22 $-806,520
INCY Incyte Corporation - Common Stock $15,553,048 1.92% 165,247 $1,816,116 Up ×2
KNSL Kinsale Capital Group, Inc. Common Stock $15,156,038 1.87% 44,360 $236,766 Up ×1
CVCO Cavco Industries, Inc. - Common Stock $14,004,214 1.73% 28,917 $-2,779,891 Up ×1
FROG JFrog Ltd. - Ordinary shares $13,427,518 1.66% 286,118 $-5,879,992 Down ×5
AXON Axon Enterprise, Inc. - Common Stock $13,146,279 1.62% 30,955 $-3,436,709 Up ×1
SRAD Sportradar Group AG - Class A Ordinary Shares $12,045,602 1.49% 719,570 $-559,154 Up ×1
WGS GeneDx Holdings Corp. - Class A Common Stock $11,207,161 1.38% 174,512 $-6,003,159 Up ×1
UNP Union Pacific Corporation Common Stock $10,031,124 1.24% 41,345 $467,199
FEZ $8,764,330 1.08% 141,178 $812,101 Up ×1
ODD ODDITY Tech Ltd. - Class A Ordinary Shares $8,758,040 1.08% 654,562 $-18,804,315 Down ×1
BROS Dutch Bros Inc. Class A Common Stock $8,066,592 1.00% 159,230 $-1,500,870 Up ×1
FALN iShares Fallen Angels USD Bond ETF $7,856,161 0.97% 294,018 $1,330,424 Up ×2
TRAK ReposiTrak, Inc. Common Stock $7,706,613 0.95% 1,014,028 $-699,804 Up ×1
IEUR $7,657,462 0.95% 108,972 $426,304 Up ×2
TYL Tyler Technologies, Inc. Common Stock $7,389,930 0.91% 21,584 $-7,224,082 Down ×3
SPY SPY $7,263,647 0.90% 11,169 $-352,717
ABX Abacus Global Management, Inc. Class A Common Stock $6,815,412 0.84% 864,900 Up ×1
GOOGL Alphabet Inc. - Class A Common Stock $5,752,925 0.71% 20,006 $2,190,672 Up ×2
VICI VICI Properties Inc. Common Stock $5,621,363 0.69% 205,760 $-164,608
FXI $5,603,200 0.69% 156,078 $287,897 Up ×3
EPD Enterprise Products Partners L.P. Common Stock $5,547,722 0.69% 146,610 $911,525 Up ×1
MSFT Microsoft Corporation - Common Stock $5,528,489 0.68% 14,935 $-3,229,386 Down ×1
PANW Palo Alto Networks, Inc. - Common Stock $5,366,135 0.66% 33,471 Up ×1
PRCH Porch Group, Inc. - Common Stock $4,991,611 0.62% 696,180 $1,296,974 Up ×1
EWZ $4,155,718 0.51% 108,250 $16,722 Down ×1
CSGP CoStar Group, Inc. - Common Stock $4,134,447 0.51% 102,490 $-12,538,316 Down ×3
EWW $4,084,763 0.50% 54,297 $-148,527 Down ×1
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $4,053,690 0.50% 9,078 $315,737 Up ×1
REMX $3,869,360 0.48% 43,970 $55,605 Down ×3
ET Energy Transfer LP Common Units $3,766,453 0.47% 195,153 $722,020 Up ×1
IWO $3,714,569 0.46% 11,837 $-116,976 Down ×1
BRKB $3,675,943 0.45% 7,671 $121,705 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $3,585,119 0.44% 7,777 $-460,390 Up ×5
TER Teradyne, Inc. - Common Stock $3,466,507 0.43% 11,693 $-376,820 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $3,332,657 0.41% 5,825 $-631,183 Down ×1
ADMA ADMA Biologics Inc - Common Stock $3,257,115 0.40% 361,500 Up ×1
XOM Exxon Mobil Corporation Common Stock $3,127,852 0.39% 18,436 $909,264
KMI Kinder Morgan, Inc. Common Stock $2,933,640 0.36% 87,493 $962,387 Up ×1
HACK $2,817,827 0.35% 37,526 $133,389 Up ×1
TRV The Travelers Companies, Inc. Common Stock $2,576,409 0.32% 8,833 $324,383 Up ×1
TKO TKO Group Holdings, Inc. Class A Common Stock $2,427,261 0.30% 12,037 $-142,812 Down ×2
RBC RBC Bearings Incorporated Common Stock $2,379,952 0.29% 4,382 $414,932
CPRT Copart, Inc. - Common Stock $2,353,183 0.29% 70,879 $-3,714,636 Down ×3
FURY $2,271,952 0.28% 3,730,015 $118,443 Up ×1
MELI MercadoLibre, Inc. - Common Stock $2,237,352 0.28% 1,294 $313,734 Up ×1
AESI Atlas Energy Solutions Inc. Common Stock $2,131,213 0.26% 162,440 $599,238 Down ×4
PSTG Everpure, Inc. Class A common stock $2,015,153 0.25% 34,132 $368,851 Up ×1
DHR Danaher Corporation Common Stock $1,919,321 0.24% 10,123 $-351,336 Up ×1
ORCL Oracle Corporation Common Stock $1,830,048 0.23% 12,440 $499,203 Up ×1
PATH UiPath, Inc. Class A Common Stock $1,739,514 0.21% 156,713 $-317,005 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $1,567,860 0.19% 13,034 $-1,272,371 Down ×1
VZ Verizon Communications Inc. Common Stock $1,494,454 0.18% 29,770 Up ×1
AMZN Amazon.com, Inc. - Common Stock $1,395,409 0.17% 6,700 $-151,085
WMT Walmart Inc. - Common Stock $1,203,155 0.15% 9,681 $124,595
TECH Bio-Techne Corp - Common Stock $836,578 0.10% 16,008 $-1,392,615 Down ×1
GLW Corning Incorporated Common Stock $834,312 0.10% 6,136 $297,044
GGN $776,720 0.10% 146,000 $23,360
KO Coca-Cola Company (The) Common Stock $766,204 0.09% 10,075 $61,861
MS Morgan Stanley Common Stock $752,085 0.09% 4,570 $256,776 Up ×2
AAPL Apple Inc. - Common Stock $734,722 0.09% 2,895 $-52,313
CVX Chevron Corporation Common Stock $619,872 0.08% 2,996 $163,252
AVGO Broadcom Inc. - Common Stock $513,787 0.06% 1,660 $-386,073 Down ×2
SHOP Shopify Inc. - Class A Subordinate Voting Shares $491,680 0.06% 4,145 $-261,660 Down ×1
TTD The Trade Desk, Inc. - Class A Common Stock $455,797 0.06% 20,088 $-3,904,896 Down ×2
JNJ Johnson & Johnson Common Stock $415,548 0.05% 1,700 $63,733
MLR Miller Industries, Inc. Common Stock $415,416 0.05% 9,120 $74,602
GOOG Alphabet Inc. - Class C Capital Stock $401,604 0.05% 1,400 $-37,716
VRT Vertiv Holdings, LLC Class A Common Stock $325,754 0.04% 1,300 $115,141
EWU $311,767 0.04% 6,843 $108,403 Up ×1
AVAV AeroVironment, Inc. - Common Stock $305,694 0.04% 1,670 Up ×1
RBLX Roblox Corporation Class A Common Stock $294,678 0.04% 5,210 $-127,488
LLY Eli Lilly and Company Common Stock $291,567 0.04% 317 $-69,525 Down ×1
IBM International Business Machines Corporation Common Stock $289,898 0.04% 1,196 $-64,369
IWF $261,383 0.03% 613 $-70,400 Down ×1
T AT&T Inc. $254,242 0.03% 8,770 $36,395
DOW Dow Inc. Common Stock $219,995 0.03% 5,282 Up ×1
VTS Vitesse Energy, Inc. Common Stock $217,012 0.03% 11,950 $-13,145
QYLD Global X NASDAQ 100 Covered Call ETF $171,500 0.02% 10,000 $-5,200
AUR Aurora Innovation, Inc. - Class A Common Stock $117,420 0.01% 28,500 $7,980

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
UFPT $20,910,736 2.58% up ×3
FXI $5,603,200 0.69% up ×3
ISRG $3,585,119 0.44% up ×5

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
LB $17,161,687 248,540 2.12%
VNOM $16,102,533 342,680 1.99%
ABX $6,815,412 864,900 0.84%
PANW $5,366,135 33,471 0.66%
ADMA $3,257,115 361,500 0.40%
VZ $1,494,454 29,770 0.18%
AVAV $305,694 1,670 0.04%
DOW $219,995 5,282 0.03%

Top movers (QoQ)

Security Action Shares Δ Value Δ
VICR Trimmed -240K -$20.5M
ODD Trimmed -31K -$18.8M
YOU Bought more +263K +$16.3M
CSGP Trimmed -145K -$12.5M
RDVT Bought more +84K -$10.6M
SNEX Bought more +168K +$9.3M
IDCC Bought more +26K +$7.5M
TYL Trimmed -11K -$7.2M
WGS Bought more +42K -$6.0M
FROG Trimmed -23K -$5.9M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
CYBR March 31, 2026 32,294 $14,405,062 No longer tracked
CWAN March 31, 2026 511,779 $12,344,109 No longer tracked
BKLN June 30, 2025 539,112 $11,159,618 No longer tracked
AVPT March 31, 2026 802,819 $11,151,156 36.3%
DV March 31, 2025 557,530 $10,710,151 -0.6%
NCNO March 31, 2026 406,307 $10,417,711 34.2%
S March 31, 2026 601,830 $9,027,450 59.0%
FLBL Dec. 31, 2025 364,498 $8,755,242 No longer tracked
GOVT March 31, 2025 379,652 $8,724,403 No longer tracked
LNTH March 31, 2025 94,180 $8,425,343 2.8%
VIA March 31, 2026 190,660 $5,531,047 77.0%
QQQ June 30, 2025 8,780 $4,117,118
IEF March 31, 2025 38,976 $3,603,331
VNQ Dec. 31, 2025 34,252 $3,131,318 No longer tracked
ROP March 31, 2026 6,670 $2,969,017 14.4%
GSHD Sept. 30, 2025 27,658 $2,918,196 -5.2%
QTRX June 30, 2025 436,930 $2,844,414 -54.1%
SRLN March 31, 2026 65,943 $2,721,468 No longer tracked
ACGL Dec. 31, 2025 22,673 $2,057,121 4.0%
SPGI Dec. 31, 2025 4,043 $1,967,769 -17.0%
MOD March 31, 2026 14,736 $1,967,403 -6.2%
NVEE Sept. 30, 2025 77,410 $1,787,397 No longer tracked
MORN Dec. 31, 2025 6,648 $1,542,402 0.5%
VRSK March 31, 2026 6,564 $1,468,301 -1.9%
MDT Sept. 30, 2025 16,824 $1,466,548 -3.3%
MOH March 31, 2025 5,013 $1,459,034 -39.8%
EFX Sept. 30, 2025 5,466 $1,417,716 -24.1%
EWU June 30, 2025 35,450 $1,328,312 No longer tracked
ADBE Sept. 30, 2025 3,381 $1,308,041 -22.6%
MU March 31, 2025 15,480 $1,302,797 1033.2%
CAH March 31, 2026 6,087 $1,250,879 9.1%
HUM March 31, 2025 4,280 $1,085,879 45.1%
DELL Sept. 30, 2025 6,503 $797,268 209.8%
VGLT March 31, 2025 9,525 $527,209
AFRM March 31, 2026 6,775 $504,263 64.5%
XYLD June 30, 2025 11,000 $434,390 No longer tracked
MP Dec. 31, 2025 6,000 $402,420 13.8%
TLT March 31, 2025 4,153 $362,681
MKTX March 31, 2026 2,000 $362,500 -1.7%
AIOT Sept. 30, 2025 80,000 $344,800 -42.6%
IBIT Dec. 31, 2025 5,000 $325,000
JOBY Dec. 31, 2025 20,000 $322,800 -42.2%
PGR Dec. 31, 2025 1,065 $263,002 -3.4%
RHLD March 31, 2026 1,261 $260,308 -23.7%
CLS March 31, 2026 870 $257,181 7.7%
QURE March 31, 2026 10,000 $239,300 202.3%
PYPL March 31, 2025 2,730 $233,006 -4.7%
IAU March 31, 2026 2,850 $231,335 No longer tracked
BMNR Dec. 31, 2025 4,000 $207,720 -16.9%
QQQ March 31, 2026 328 $201,494
RSSS Dec. 31, 2025 50,000 $186,500 -24.5%
GPGI June 30, 2025 15,400 $167,398 -10.5%