ASHFORD CAPITAL MANAGEMENT INC
Long book
$809.2M
Q1 2026
Positions
99
Top-10 weight
40%
concentration
Last quarter
+22.1%
SPY +14.8%
Turnover
22%
of book per quarter
Strategy in plain words
auto-generated from filingsASHFORD CAPITAL MANAGEMENT INC is a diversified fundamental manager, running a $809.2M US long book across 99 positions.
The portfolio is moderately concentrated (top 10 ≈ 40% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: GLOBALSTAR INC, LIGAND PHARMACEUTICALS, STONEX GROUP INC, SUPERNUS PHARMACEUTICALS INC, VANGUARD TOTAL STOCK MKT ETF.
Over the last 9 quarters its long book ran on average 0.4pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-5.1%
Q2 2024
+9.9%
Q3 2024
+8.1%
Q4 2024
-3.0%
Q1 2025
+9.6%
Q2 2025
+6.0%
Q3 2025
+3.0%
Q4 2025
-7.0%
Q1 2026
+22.1%
Sector allocation
Technology 25%
Healthcare 20%
Financials 19%
Communications 9%
Industrials 6%
Materials 6%
Services media 4%
Other 3%
Long book by quarter
What does ASHFORD CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GSAT GLOBALSTAR INC | Communications | 907.5K | $60.3M | 7.4% | -9.2% |
| LGND LIGAND PHARMACEUTICALS | Healthcare | 207.6K | $41.4M | 5.1% | -2.9% |
| SNEX STONEX GROUP INC | Financials | 466.6K | $37.6M | 4.7% | +56.4% |
| SUPN SUPERNUS PHARMACEUTICALS INC | Healthcare | 645.4K | $33.4M | 4.1% | +5.4% |
| YOU CLEAR SECURE INC -CLASS A | Technology | 533.3K | $25.8M | 3.2% | +97.5% |
| CLBT CELLEBRITE DI LTD | Technology | 1.8M | $24.3M | 3.0% | +5.5% |
| RDVT RED VIOLET INC | Technology | 686.8K | $23.8M | 2.9% | +13.9% |
| HQY HEALTHEQUITY INC | Services media | 266.5K | $22.3M | 2.8% | -1.9% |
| UFPT UFP TECHNOLOGIES INC | Healthcare | 108.0K | $20.9M | 2.6% | +11.7% |
| FNV FRANCO-NEVADA CORP | Materials | 81.6K | $20.2M | 2.5% | -9.2% |
| VOXR VOX ROYALTY CORP | Materials | 3.6M | $18.8M | 2.3% | +13.8% |
| VICR VICOR CORP | Technology | 113.5K | $18.3M | 2.3% | -67.9% |
| AYI ACUITY INC | Industrials | 63.5K | $17.8M | 2.2% | -3.3% |
| LB LANDBRIDGE CO LLC-A | Financials | 248.5K | $17.2M | 2.1% | New |
| SKWD SKYWARD SPECIALTY INSURANCE | Financials | 390.3K | $17.0M | 2.1% | +0.7% |
| IDCC INTERDIGITAL INC | Financials | 55.7K | $16.8M | 2.1% | +89.5% |
| VNOM VIPER ENERGY INC-CL A | Energy | 342.7K | $16.1M | 2.0% | New |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 22 | $15.8M | 2.0% | Held |
| INCY INCYTE CORP | Healthcare | 165.2K | $15.6M | 1.9% | +18.8% |
| KNSL KINSALE CAPITAL GROUP INC | Financials | 44.4K | $15.2M | 1.9% | +16.3% |
| CVCO CAVCO INDUSTRIES INC | Other | 28.9K | $14.0M | 1.7% | +1.8% |
| FROG JFROG LTD | Technology | 286.1K | $13.4M | 1.7% | -7.4% |
| AXON AXON ENTERPRISE INC | Industrials | 31.0K | $13.1M | 1.6% | +6.0% |
| SRAD SPORTRADAR GROUP AG-A | Technology | 719.6K | $12.0M | 1.5% | +35.7% |
| WGS GENEDX HOLDINGS CORP | Healthcare | 174.5K | $11.2M | 1.4% | +31.9% |
| UNP UNION PACIFIC CORP | Industrials | 41.3K | $10.0M | 1.2% | Held |
| ODD ODDITY TECH LTD-CL A | Other | 654.6K | $8.8M | 1.1% | -4.6% |
| BROS DUTCH BROS INC-CLASS A | Consumer discretionary | 159.2K | $8.1M | 1.0% | +1.9% |
| TRAK REPOSITRAK INC | Technology | 1.0M | $7.7M | 1.0% | +49.2% |
| TYL TYLER TECHNOLOGIES INC | Technology | 21.6K | $7.4M | 0.9% | -33.0% |
| ABX ABACUS GLOBAL MANAGEMENT INC | Financials | 864.9K | $6.8M | 0.8% | New |
| GOOGL ALPHABET INC-CL A | Technology | 20.0K | $5.8M | 0.7% | +75.8% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 146.6K | $5.5M | 0.7% | +1.4% |
| MSFT MICROSOFT CORP | Technology | 14.9K | $5.5M | 0.7% | -17.5% |
| PANW PALO ALTO NETWORKS INC | Technology | 33.5K | $5.4M | 0.7% | New |
| PRCH PORCH GROUP INC | Technology | 696.2K | $5.0M | 0.6% | +72.0% |
| CSGP COSTAR GROUP INC | Services media | 102.5K | $4.1M | 0.5% | -58.7% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 9.1K | $4.1M | 0.5% | +10.1% |
| ET ENERGY TRANSFER LP | Utilities | 195.2K | $3.8M | 0.5% | +5.7% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 7.7K | $3.7M | 0.5% | +8.5% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 7.8K | $3.6M | 0.4% | +8.9% |
| TER TERADYNE INC | Technology | 11.7K | $3.5M | 0.4% | -41.1% |
| META META PLATFORMS INC-CLASS A | Technology | 5.8K | $3.3M | 0.4% | -3.0% |
| ADMA ADMA BIOLOGICS INC | Healthcare | 361.5K | $3.3M | 0.4% | New |
| XOM EXXON MOBIL CORP | Energy | 18.4K | $3.1M | 0.4% | Held |
| KMI KINDER MORGAN INC | Utilities | 87.5K | $2.9M | 0.4% | +22.0% |
| TRV TRAVELERS COS INC/THE | Financials | 8.8K | $2.6M | 0.3% | +13.8% |
| TKO TKO GROUP HOLDINGS INC | Services media | 12.0K | $2.4M | 0.3% | -2.1% |
| RBC RBC BEARINGS INC | Industrials | 4.4K | $2.4M | 0.3% | Held |
| CPRT COPART INC | Consumer discretionary | 70.9K | $2.4M | 0.3% | -54.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 99 | $809.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 109 | $897.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 110 | $897.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 18, 2025 | 102 | $851.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 99 | $775.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 18, 2025 | 101 | $847.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 18, 2024 | 102 | $801.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 15, 2024 | 97 | $740.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 91 | $739.3M | canonical | SEC ↗ |
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