ASHFORD CAPITAL MANAGEMENT INC

CIK

897070

Location

WILMINGTON, DE

Portfolio Value

Small $731,865,196

Diversification

Diversified

Filing Date

Global Rank

#2,119 / 8,622 ▼ 54 · as of Mar 2026

Top Industry

Software - Application 14.8%

3Y Alpha vs SPY

-5.8%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+51.9%

SPY

+67.9%

Annualised alpha

-3.9%

Max drawdown

−19.0%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

84 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.2%

+0.6 pts

Top 5

29.7%

+2.6 pts

Top 10

45.3%

+1.1 pts

HHI

328

Diversified+31

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	23.6%	$172,360,224	20
Healthcare	22.0%	$160,667,651	14
Financial Services	14.8%	$108,244,480	9
Communication Services	10.2%	$74,290,221	8
Energy	7.1%	$51,607,981	9
Industrials	6.3%	$46,346,879	7
Basic Materials	5.7%	$41,451,398	4
Real Estate	4.5%	$32,668,919	3
Consumer Cyclical	3.6%	$26,236,400	6
Consumer Defensive	1.5%	$10,727,396	3
Unclassified	1.0%	$7,263,647	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VOXR	Vox Royalty Corp.	+434,530	3,586,900	$18,795,356
TRAK	ReposiTrak, Inc.	+334,447	1,014,028	$7,706,612
PRCH	Porch Group, Inc.	+291,510	696,180	$4,991,610
YOU	Clear Secure, Inc.	+263,218	533,268	$25,815,503
SRAD	Sportradar Group AG	+189,290	719,570	$12,045,601
SNEX	StoneX Group Inc.	+168,301	466,630	$56,450,564
CLBT	Cellebrite DI Ltd.	+92,092	1,762,937	$24,293,271
RDVT	Red Violet, Inc.	+83,998	686,816	$23,763,833
FURY	Fury Gold Mines Ltd	+80,000	3,730,015	$2,271,579
WGS	GeneDx Holdings Corp.	+42,186	174,512	$11,207,160
SUPN	Supernus Pharmaceuticals, Inc.	+32,843	645,381	$33,359,743
PATH	UiPath, Inc.	+31,239	156,713	$1,739,514
IDCC	InterDigital, Inc.	+26,316	55,724	$16,828,648
INCY	Incyte Corp	+26,167	165,247	$15,553,047
KMI	Kinder Morgan, Inc.	+15,785	87,493	$2,933,640
UFPT	Ufp Technologies Inc	+11,350	108,010	$20,910,736
ET	Energy Transfer LP	+10,530	195,153	$3,766,452
P	Everpure, Inc.	+9,564	34,132	$2,015,153
GOOGL	Alphabet Inc.	+8,625	20,006	$5,752,925
KNSL	Kinsale Capital Group, Inc.	+6,215	44,360	$15,156,037
ORCL	Oracle Corp	+5,612	12,440	$1,830,048
BROS	Dutch Bros Inc.	+2,950	159,230	$8,066,591
SKWD	Skyward Specialty Insurance Group, Inc.	+2,630	390,332	$17,049,701
EPD	Enterprise Products Partners L.P.	+2,000	146,610	$5,547,722
MS	Morgan Stanley	+1,780	4,570	$752,084
No positions match the current search.

Trimmed

Positions the filer reduced

23 positions

Ticker	Company	Δ Shares	Shares	Value
VICR	Vicor Corp	−240,321	113,535	$18,279,135
CSGP	Costar Group, Inc.	−145,469	102,490	$4,134,446
TTD	Trade Desk, Inc.	−94,788	20,088	$455,796
GSAT	Globalstar, Inc.	−91,464	907,531	$60,278,209
CPRT	Copart Inc	−84,110	70,879	$2,353,182
ODD	Oddity Tech Ltd	−31,410	654,562	$8,758,039
FROG	JFrog Ltd	−23,000	286,118	$13,427,517
TECH	BIO-TECHNE Corp	−21,897	16,008	$836,578
MRK	Merck & Co., Inc.	−13,949	13,034	$1,567,859
TYL	Tyler Technologies Inc	−10,609	21,584	$7,389,929
FNV	FRANCO NEVADA Corp	−8,236	81,621	$20,164,468
TER	Teradyne, Inc	−8,163	11,693	$3,466,506
LGND	Ligand Pharmaceuticals Inc	−6,213	207,565	$41,440,352
HQY	Healthequity, Inc.	−5,242	266,481	$22,269,817
MSFT	Microsoft Corp	−3,174	14,935	$5,528,488
AYI	Acuity Inc. (De)	−2,183	63,539	$17,804,898
AVGO	Broadcom Inc.	−940	1,660	$513,786
SHOP	Shopify Inc.	−535	4,145	$491,679
TKO	TKO Group Holdings, Inc.	−260	12,037	$2,427,261
AESI	Atlas Energy Solutions Inc.	−190	162,440	$2,131,212
META	Meta Platforms, Inc.	−180	5,825	$3,332,657
EQIX	Equinix Inc	−49	23,375	$22,913,110
LLY	ELI LILLY & Co	−19	317	$291,567
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
LB	LandBridge Co LLC	248,540	$17,161,687
VNOM	Viper Energy, Inc.	342,680	$16,102,533
ABX	Abacus Global Management, Inc.	864,900	$6,815,412
PANW	Palo Alto Networks Inc	33,471	$5,366,070
ADMA	Adma Biologics, Inc.	361,500	$3,257,115
VZ	Verizon Communications Inc	29,770	$1,494,454
AVAV	AeroVironment Inc	1,670	$305,693
DOW	Dow Inc.	5,282	$219,995
No positions match the current search.

Sold Out

Positions the filer fully exited

16 positions

Ticker	Company	Shares	Value
CWAN	Clearwater Analytics Holdings, Inc.	511,779	$12,344,109
AVPT	AvePoint, Inc.	802,819	$11,151,155
NCNO	nCino, Inc.	406,307	$10,417,711
S	SentinelOne, Inc.	601,830	$9,027,450
VIA	Via Transportation, Inc.	190,660	$5,531,046
ROP	Roper Technologies Inc	6,670	$2,969,017
MOD	Modine Manufacturing Co	14,736	$1,967,403
VRSK	Verisk Analytics, Inc.	6,564	$1,468,301
CAH	Cardinal Health Inc	6,087	$1,250,878
AFRM	Affirm Holdings, Inc.	6,775	$504,263
MKTX	Marketaxess Holdings Inc	2,000	$362,500
RHLD	Resolute Holdings Management, Inc.	1,261	$260,308
CLS	Celestica Inc	870	$257,180
QURE	uniQure N.V.	10,000	$239,300
IAU	Ishares Gold Trust	2,850	$231,334
QQQ	Invesco Qqq Trust, Series 1	328	$201,493
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

84 positions · $731,865,196 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 84 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GSAT	Globalstar, Inc. Communication Services	Reduced	907,531	-91,464	$60,278,209	−1.1%	8.24%
SNEX	StoneX Group Inc. Financial Services	Added	466,630	+168,301	$56,450,564	+32.6%	7.71%
LGND	Ligand Pharmaceuticals Inc Healthcare	Reduced	207,565	-6,213	$41,440,352	+2.5%	5.66%
SUPN	Supernus Pharmaceuticals, Inc. Healthcare	Added	645,381	+32,843	$33,359,743	+9.6%	4.56%
YOU	Clear Secure, Inc. Technology	Added	533,268	+263,218	$25,815,503	+172.5%	3.53%
CLBT	Cellebrite DI Ltd. Technology	Added	1,762,937	+92,092	$24,293,271	−19.4%	3.32%
RDVT	Red Violet, Inc. Technology	Added	686,816	+83,998	$23,763,833	−30.8%	3.25%
EQIX	Equinix Inc Real Estate	Reduced	23,375	-49	$22,913,110	+27.7%	3.13%
HQY	Healthequity, Inc. Healthcare	Reduced	266,481	-5,242	$22,269,817	−10.5%	3.04%
UFPT	Ufp Technologies Inc Healthcare	Added	108,010	+11,350	$20,910,736	−2.6%	2.86%
FNV	FRANCO NEVADA Corp Basic Materials	Reduced	81,621	-8,236	$20,164,468	+8.3%	2.76%
VOXR	Vox Royalty Corp. Basic Materials	Added	3,586,900	+434,530	$18,795,356	+25.8%	2.57%
VICR	Vicor Corp Technology	Reduced	113,535	-240,321	$18,279,135	−52.9%	2.50%
AYI	Acuity Inc. (De) Industrials	Reduced	63,539	-2,183	$17,804,898	−24.8%	2.43%
LB	LandBridge Co LLC Energy	NEW	248,540	NEW	$17,161,687	NEW	2.34%
SKWD	Skyward Specialty Insurance Group, Inc. Financial Services	Added	390,332	+2,630	$17,049,701	−14.0%	2.33%
IDCC	InterDigital, Inc. Technology	Added	55,724	+26,316	$16,828,648	+79.7%	2.30%
VNOM	Viper Energy, Inc. Energy	NEW	342,680	NEW	$16,102,533	NEW	2.20%
INCY	Incyte Corp Healthcare	Added	165,247	+26,167	$15,553,047	+13.2%	2.13%
KNSL	Kinsale Capital Group, Inc. Financial Services	Added	44,360	+6,215	$15,156,037	+1.6%	2.07%
CVCO	Cavco Industries, Inc. Consumer Cyclical	Added	28,917	+505	$14,004,213	−16.6%	1.91%
FROG	JFrog Ltd Technology	Reduced	286,118	-23,000	$13,427,517	−30.5%	1.83%
AXON	Axon Enterprise, Inc. Industrials	Added	30,955	+1,756	$13,146,278	−20.7%	1.80%
SRAD	Sportradar Group AG Technology	Added	719,570	+189,290	$12,045,601	−4.4%	1.65%
WGS	GeneDx Holdings Corp. Healthcare	Added	174,512	+42,186	$11,207,160	−34.9%	1.53%
UNP	Union Pacific Corp Industrials	Held	41,345	0	$10,031,123	+4.9%	1.37%
ODD	Oddity Tech Ltd Consumer Defensive	Reduced	654,562	-31,410	$8,758,039	−68.2%	1.20%
BROS	Dutch Bros Inc. Consumer Cyclical	Added	159,230	+2,950	$8,066,591	−15.7%	1.10%
TRAK	ReposiTrak, Inc. Technology	Added	1,014,028	+334,447	$7,706,612	−8.3%	1.05%
TYL	Tyler Technologies Inc Technology	Reduced	21,584	-10,609	$7,389,929	−49.4%	1.01%
SPY	Spdr S&P 500 ETF Trust	Held	11,169	0	$7,263,647	−4.6%	0.99%
ABX	Abacus Global Management, Inc. Financial Services	NEW	864,900	NEW	$6,815,412	NEW	0.93%
GOOGL	Alphabet Inc. Communication Services	Added	20,006	+8,625	$5,752,925	+61.5%	0.79%
VICI	Vici Properties Inc. Real Estate	Held	205,760	0	$5,621,363	−2.8%	0.77%
EPD	Enterprise Products Partners L.P. Energy	Added	146,610	+2,000	$5,547,722	+19.7%	0.76%
MSFT	Microsoft Corp Technology	Reduced	14,935	-3,174	$5,528,488	−36.9%	0.76%
PANW	Palo Alto Networks Inc Technology	NEW	33,471	NEW	$5,366,070	NEW	0.73%
PRCH	Porch Group, Inc. Financial Services	Added	696,180	+291,510	$4,991,610	+35.1%	0.68%
CSGP	Costar Group, Inc. Real Estate	Reduced	102,490	-145,469	$4,134,446	−75.2%	0.56%
VRTX	Vertex Pharmaceuticals Inc / Ma Healthcare	Added	9,078	+833	$4,053,690	+8.4%	0.55%
ET	Energy Transfer LP Energy	Added	195,153	+10,530	$3,766,452	+23.7%	0.51%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	7,671	+600	$3,675,943	+3.4%	0.50%
ISRG	Intuitive Surgical Inc Healthcare	Added	7,777	+634	$3,585,119	−11.4%	0.49%
TER	Teradyne, Inc Technology	Reduced	11,693	-8,163	$3,466,506	−9.8%	0.47%
META	Meta Platforms, Inc. Communication Services	Reduced	5,825	-180	$3,332,657	−15.9%	0.46%
ADMA	Adma Biologics, Inc. Healthcare	NEW	361,500	NEW	$3,257,115	NEW	0.45%
XOM	ExxonMobil Holdings Corp Energy	Held	18,436	0	$3,127,851	+41.0%	0.43%
KMI	Kinder Morgan, Inc. Energy	Added	87,493	+15,785	$2,933,640	+48.8%	0.40%
TRV	Travelers Companies, Inc. Financial Services	Added	8,833	+1,069	$2,576,409	+14.4%	0.35%
TKO	TKO Group Holdings, Inc. Communication Services	Reduced	12,037	-260	$2,427,261	−5.6%	0.33%