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ASHFORD CAPITAL MANAGEMENT INC — 13F Holdings & Portfolio

CIK 897070 · latest 13F-HR filed 2026-08-21

Backtest portfolio

ASHFORD CAPITAL MANAGEMENT INC manages $932.6M in 13F-reported U.S. long-equity assets across 108 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are LGND (5.77%), GSAT (4.44%), RDVT (3.93%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 17 new positions and exited 9; 45 existing positions rose in reported value and 29 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$932.6M

Long-equity book

Holdings
108

Distinct positions

Period
2026-06-30

Filed 2026-08-21

Q/Q Activity
+17 / −9 / ↑45 / ↓29

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
LGND5.8% · -18%GSAT4.4% · -44%RDVT3.9% · -16%VTI3.9% · +2%SNEX3.5% · -41%SUPN3.1% · -5%VICR3.1% · -34%AYI3.0% · +16%UFPT3.0% · -3%YOU2.9% · -10%CLBT2.8% · +1%FROG2.6% · -5%EQIX2.5% · -5%HQY2.5% · -5%SKWD2.3% · -6%IDCC2.3% · +34%INCY2.2% · +10%LB2.0% · -6%VNOM1.9% · +24%ABX1.9% · +93%AXON1.8% · -5%BRK.A1.8% · 0%FNV1.7% · -5%VOXR1.7% · -5%PRCH1.6% · +40%WGS1.5% · +16%AESI1.4% · +369%KNSL1.2% · -22%UNP1.2% · 0%BROS1.2% · -5%PANW1.1% · -7%SRAD1.1% · -2%QMCO1.1% · newFEZ0.9% · -9%SGOV0.9% · newGOOGL0.9% · +18%CVCO0.9% · -52%SPY0.9% · -3%IEUR0.8% · -5%TRAK0.7% · -24%TRNS0.7% · newODD0.7% · -37%PSTL0.7% · newET0.6% · +62%TYL0.6% · -7%MSFT0.6% · 0%EPD0.6% · 0%ICSH0.6% · newTER0.5% · -10%VRTX0.5% · 0%BRK.B0.4% · -3%REMX0.4% · -12%EWW0.4% · -16%EWZ0.4% · -9%HACK0.4% · -14%ISRG0.3% · -1%IWO0.3% · -34%TRV0.3% · 0%ADMA0.3% · -7%RBC0.3% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 36.4%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 28, 2026.

Assets Under Management
$965.8M
Discretionary
$965.8M
Employees
14
Accounts
95
Address
ONE WALKERS MILL ROAD
WILMINGTON, DE 19807-2317
Phone
(302) 655-1750
Website
Name Title / Status Ownership Type
ASHFORD, THEODORE, H ControlCHAIRMAN, DIRECTOR (CLASS A SHARES)
since Oct 2011
5–10%Individual
ASHFORD, THEODORE, H., III ControlCHIEF EXECUTIVE OFFICER, DIRECTOR, CHIEF INVESTMENT OFFICER (CLASS A&B SHARES)
since Jan 2018
75% or moreIndividual
HORAN, LOUISE, VICTORIA ControlVICE PRESIDENT, OPERATIONS (CLASS B SHARES)
since Apr 2001
Less than 5%Individual
PATSELIEV, ALEXANDER, WILLIAM ControlCHIEF COMPLIANCE OFFICER
since Oct 2025
Less than 5%Individual
PETRUCCI, ANTHONY, MARK ControlCHIEF FINANCIAL OFFICER, DIRECTOR (CLASS B SHARES)
since Oct 2007
Less than 5%Individual
Ownership & leadership changes · 8 filings with changes since Nov 28, 2011

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Jul 28, 2026 filing
  • No longer listedPETKO, JOSEPH, FRANCIS · VICE PRESIDENT & CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person · listed since Jan 2018
  • ChangedASHFORD, THEODORE, H., III · title CHIEF EXECUTIVE OFFICER, DIRECTOR, CO-CHIEF INVESTMENT OFFICER (CLASS A&B SHARES) → CHIEF EXECUTIVE OFFICER, DIRECTOR, CHIEF INVESTMENT OFFICER (CLASS A&B SHARES)
Oct 17, 2025 filing
  • AddedPATSELIEV, ALEXANDER, WILLIAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedPETRUCCI, ANTHONY, MARK · title CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER, DIRECTOR (CLASS B SHARES) → CHIEF FINANCIAL OFFICER, DIRECTOR (CLASS B SHARES)
Dec 4, 2018 filing
  • ChangedASHFORD, THEODORE, H., III · title CHIEF EXECUTIVE OFFICER, DIRECTOR, PRESIDENT, CHIEF INVESTMENT OFFICER (CLASS A&B SHARES) → CHIEF EXECUTIVE OFFICER, DIRECTOR, CO-CHIEF INVESTMENT OFFICER (CLASS A&B SHARES)
  • ChangedPETKO, JOSEPH, FRANCIS · title VICE PRESIDENT & DIRECTOR OF RESEARCH → VICE PRESIDENT & CO-CHIEF INVESTMENT OFFICER
Nov 18, 2015 filing
  • No longer listedHEBERT, JOHN, EARL · VICE PRESIDENT · Less than 5% · control person · listed since Oct 2007
  • ChangedPETKO, JOSEPH, FRANCIS · title VICE PRESIDENT & DIRECTOR OF RESEARCH (CLASS B SHARES) → VICE PRESIDENT & DIRECTOR OF RESEARCH; ownership 5–10% → Less than 5%
Sep 16, 2014 filing
  • No longer listedWEEKS, CHARLES, S · VICE PRESIDENT(CLASS B SHARES) · Less than 5% · control person · listed since Oct 2007
Mar 5, 2014 filing
  • ChangedPETRUCCI, ANTHONY, MARK · title CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER (CLASS B SHARES) → CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER, DIRECTOR (CLASS B SHARES)
Nov 22, 2013 filing
  • ChangedASHFORD, THEODORE, H · title CHAIRMAN, DIRECTOR (CLASS A&B SHARES) → CHAIRMAN, DIRECTOR (CLASS A SHARES); ownership 75% or more → 5–10%
  • ChangedASHFORD, THEODORE, H., III · ownership 10–25% → 75% or more
Feb 7, 2012 filing
  • ChangedASHFORD, THEODORE, H · title CHAIRMAN, CHIEF EXECUTIVE OFFICER, DIRECTOR (CLASS A&B SHARES) → CHAIRMAN, DIRECTOR (CLASS A&B SHARES)
  • ChangedASHFORD, THEODORE, H., III · title DIRECTOR, PRESIDENT, CHIEF OPERATING OFFICER, CHIEF INVESTMENT OFFICER (CLASS A&B SHARES) → CHIEF EXECUTIVE OFFICER, DIRECTOR, PRESIDENT, CHIEF INVESTMENT OFFICER (CLASS A&B SHARES)
Nov 28, 2011 filing (earliest on record)
  • ListedASHFORD, THEODORE, H · CHAIRMAN, CHIEF EXECUTIVE OFFICER, DIRECTOR (CLASS A&B SHARES) · 75% or more · control person
  • ListedASHFORD, THEODORE, H., III · DIRECTOR, PRESIDENT, CHIEF OPERATING OFFICER, CHIEF INVESTMENT OFFICER (CLASS A&B SHARES) · 10–25% · control person
  • ListedHEBERT, JOHN, EARL · VICE PRESIDENT · Less than 5% · control person
  • ListedHORAN, LOUISE, VICTORIA · VICE PRESIDENT, OPERATIONS (CLASS B SHARES) · Less than 5% · control person
  • ListedPETKO, JOSEPH, FRANCIS · VICE PRESIDENT & DIRECTOR OF RESEARCH (CLASS B SHARES) · 5–10% · control person
  • ListedPETRUCCI, ANTHONY, MARK · CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER (CLASS B SHARES) · Less than 5% · control person
  • ListedWEEKS, CHARLES, S · VICE PRESIDENT(CLASS B SHARES) · Less than 5% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

ASHFORD CAPITAL MANAGEMENT INC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 LIGAND PHARMACEUTICALS - CL B LGND 53220K504 $53.8M 5.77% 170,236 SH
2 GLOBALSTAR INC. GSAT 378973507 $41.4M 4.44% 509,700 SH
3 RED VIOLET INC RDVT 75704L104 $36.7M 3.93% 575,194 SH
4 VANGUARD TOTAL STOCK MARKET ETF VTI 922908769 $35.9M 3.85% 97,062 SH
5 STONEX GROUP, INC. SNEX 861896108 $32.7M 3.51% 276,036 SH
6 SUPERNUS PHARMACEUTICALS INC. SUPN 868459108 $28.5M 3.06% 613,783 SH
7 VICOR CORP VICR 925815102 $28.5M 3.05% 74,920 SH
8 ACUITY, INC. AYI 00508Y102 $27.9M 2.99% 73,959 SH
9 UFP TECHNOLOGIES, INC. UFPT 902673102 $27.8M 2.99% 105,020 SH
10 CLEAR SECURE, INC. -CLASS A YOU 18467V109 $26.7M 2.86% 479,082 SH
11 CELLEBRITE DI LTD/ISRAEL CLBT M2197Q107 $26.0M 2.78% 1,778,347 SH
12 JFROG LTD FROG M6191J100 $24.7M 2.65% 271,708 SH
13 EQUINIX INC EQIX 29444U700 $23.2M 2.49% 22,280 SH
14 HEALTHEQUITY, INC. HQY 42226A107 $22.9M 2.45% 253,441 SH
15 SKYWARD SPECIALTY INSURANCE GROUP SKWD 830940102 $21.5M 2.30% 368,052 SH
16 INTERDIGITAL INC. IDCC 45867G101 $21.2M 2.28% 74,953 SH
17 INCYTE CORP INCY 45337C102 $20.7M 2.21% 182,177 SH
18 LANDBRIDGE COMPANY, LLC LB 514952100 $18.6M 2.00% 234,860 SH
19 VIPER ENERGY, INC. VNOM 64361Q101 $18.1M 1.94% 426,070 SH
20 ABACUS GLOBAL MANAGEMENT, INC ABX 00258Y104 $17.9M 1.92% 1,670,673 SH
21 AXON ENTERPRISE, INC. AXON 05464C101 $16.5M 1.77% 29,515 SH
22 BERKSHIRE HATHAWAY A BRK.A 084670108 $16.5M 1.77% 22 SH
23 FRANCO-NEVADA CORP FNV 351858105 $16.1M 1.73% 77,196 SH
24 VOX ROYALTY CORP. VOXR 92919F103 $16.0M 1.72% 3,392,440 SH
25 PORCH GROUP INC PRCH 733245104 $14.7M 1.57% 976,320 SH
26 GENEDX HOLDINGS - CL A. WGS 81663L200 $13.9M 1.49% 201,986 SH
27 ATLAS ENERGY SOLUTIONS, INC. AESI 642045108 $12.7M 1.36% 762,310 SH
28 KINSALE CAPITAL GROUP INC. KNSL 49714P108 $11.4M 1.22% 34,490 SH
29 UNION PACIFIC CORP UNP 907818108 $11.2M 1.21% 41,345 SH
30 DUTCH BROS INC. BROS 26701L100 $10.8M 1.16% 150,700 SH
31 PALO ALTO NETWORKS, INC. PANW 697435105 $10.6M 1.14% 31,191 SH
32 SPORTRADAR GROUP AG SRAD H8088L103 $10.6M 1.13% 705,690 SH
33 SPDR EURO STOXX 50 FUND FEZ 78463X202 $8.9M 0.95% 129,014 SH
34 ISHARES 0-3 MONTH TREASURY BOND ETF SGOV 46436E718 $8.9M 0.95% 87,978 SH
35 ALPHABET INC. CLASS A GOOGL 02079K305 $8.5M 0.91% 23,691 SH
36 CAVCO INDUSTRIES, INC. CVCO 149568107 $8.4M 0.90% 13,730 SH
37 SPDR S&P 500 ETF TRUST SPY 78462F103 $8.1M 0.87% 10,828 SH
38 ISHARES CORE MSCI EUROPE ETF IEUR 46434V738 $7.8M 0.84% 103,969 SH
39 QUANTUM CORPORATION QMCO 747906600 $7.0M 0.75% 639,200 SH
40 REPOSITRAK, INC. TRAK 700215304 $6.9M 0.74% 768,760 SH
41 TRANSCAT, INC. TRNS 893529107 $6.8M 0.73% 73,500 SH
42 ODDITY TECH, LTD. - CL A ODD M7518J104 $6.2M 0.67% 411,685 SH
43 POSTAL REALTY TRUST INC CL A PSTL 73757R102 $6.1M 0.66% 248,650 SH
44 ENERGY TRANSFER LP ET 29273V100 $6.0M 0.65% 315,163 SH
45 TYLER TECHNOLOGIES, INC TYL 902252105 $5.9M 0.63% 20,154 SH
46 MICROSOFT CORPORATION MSFT 594918104 $5.6M 0.60% 14,935 SH
47 ENTERPRISE PRODUCTS PARTNERS EPD 293792107 $5.4M 0.58% 146,610 SH
48 ISHARES ULTRA SHORT DURATION BOND ETF ICSH 46434V878 $5.2M 0.56% 103,715 SH
49 TERADYNE INC. TER 880770102 $5.1M 0.54% 10,499 SH
50 VERTEX PHARMACEUTICALS INC. VRTX 92532F100 $4.5M 0.48% 9,078 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-21 $932.6M 108 0000897070-26-000013
2026-03-31 2026-05-15 $809.2M 99 0000897070-26-000007
2025-12-31 2026-02-17 $897.7M 109 0000897070-26-000003
2025-09-30 2025-11-14 $897.8M 110 0000897070-25-000013
Filer Information
Address
1 WALKER'S MILL ROAD
WILMINGTON, DE 19807
Phone
(302) 655-1750
Filing Manager
ASHFORD CAPITAL MANAGEMENT INC
WILMINGTON, DE
Signatory
Victoria Horan
Vice President, Operations