Ashford Capital Management Inc.

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 18, 2024), Ashford Capital Management Inc. reported 102 stock positions worth $801.3 million. Its top holding was Axon Enterprise (AXON) at 4.3% of the portfolio, followed by Cellebrite Di (CLBT, 4.0%) and Ligand Pharmaceuticals (LGND, 3.9%). Compared with Q2 2024, it opened 9 new positions, sold out of 4, added to 21 and reduced 52. The biggest buy was Equinix (EQIX, shares +223%) and the biggest sale Progyny (PGNY, shares −41%).

Most Recent 13F
Q2 2026
Location
WILMINGTON, DE
CIK
0000897070
Portfolio Value
$801.3M (Q3 2024)
SEC Filing
0000897070-24-000013 ↗ filed Nov 18, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $739.3M Q1 2024 Q2 2024: $740.6M Q2 2024 Q3 2024: $801.3M $801.3M Q3 2024 Q4 2024: $847.6M Q4 2024 Q1 2025: $775.5M Q1 2025 Q2 2025: $851.1M Q2 2025 Q3 2025: $897.8M Q3 2025 Q4 2025: $897.7M Q4 2025 Q1 2026: $809.2M Q1 2026 Q2 2026: $932.6M Q2 2026

Holdings 102 stocks · $801.3M
AXON Axon Enterprise Inc. 4.32% 86,716 $34.7M Reduce -2.0%
CLBT Cellebrite Di Ltd. 3.97% 1,889,210 $31.8M Reduce -0.8%
LGND Ligand Pharmaceuticals 3.88% 310,407 $31.1M Reduce -3.7%
VTI VG Morningstar TS MKT ETF-US 3.59% 101,519 $28.7M Add +17.5%
ODD Oddity Tech Ltd. Class A 3.52% 697,660 $28.2M Reduce -0.6%
SKWD Skyward Specialty Insurance 3.22% 633,836 $25.8M Reduce -15.6%
TYL Tyler Technologies Inc. 3.15% 43,298 $25.3M Reduce -20.4%
CPRT Copart Inc. 3.14% 479,581 $25.1M Reduce -13.5%
HQY Healthequity Inc. 3.12% 305,222 $25.0M Reduce -0.8%
CVCO Cavco Industries Inc. 3.08% 57,670 $24.7M Reduce -0.7%
CSGP Costar Group Inc. 3.01% 320,088 $24.1M Reduce -0.2%
SNEX Stonex Group Inc. 2.86% 280,230 $22.9M Reduce -7.8%
RDVT Red Violet Inc. 2.84% 799,587 $22.7M Reduce -16.2%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 2.74% 200,301 $22.0M Reduce -2.3%
EQIX Equinix Inc. 2.70% 24,394 $21.7M Add +223.2%
FNV Franco-Nevada Corp. 2.58% 166,304 $20.7M Reduce -1.9%
CYBR Cyberark Software Ltd./Israel 2.39% 65,750 $19.2M Reduce -8.3%
KNSL Kinsale Capital Group Inc. 2.37% 40,865 $19.0M Reduce -1.1%
SUPN Supernus Pharmaceuticals Inc. 2.12% 544,035 $17.0M Reduce -23.6%
INCY Incyte Corp. 1.99% 240,640 $15.9M Reduce -1.7%
S Sentinelone Inc. Class A 1.97% 658,435 $15.7M Add +72.7%
GSHD Goosehead Insurance Inc. Class A 1.95% 174,690 $15.6M Reduce -1.0%
MKTX Marketaxess Holdings Inc. 1.93% 60,290 $15.4M Reduce -9.9%
BRK.A Berkshire Hathaway Inc. Class A 1.90% 22 $15.2M No change
NVEE NV5 Global Inc. 1.61% 137,690 $12.9M Reduce -1.1%
AVPT Avepoint Inc. 1.60% 1,091,230 $12.8M Add +10.0%
AESI Atlas Energy Solutions Inc. 1.59% 586,000 $12.8M Add +27.9%
DV Doubleverify Holdings Inc. 1.56% 740,880 $12.5M Add +14.2%
FROG Jfrog Ltd. 1.38% 381,470 $11.1M Add +33.1%
LNTH Lantheus Holdings Inc. 1.30% 94,650 $10.4M Reduce -12.3%
UNP Union Pacific Corp. 1.27% 41,345 $10.2M No change
QTRX Quanterix Corp. 1.19% 734,115 $9.5M Reduce -4.8%
GSAT Globalstar Inc. 1.13% 7,321,740 $9.1M Reduce -0.9%
MSFT Microsoft Corp. 1.05% 19,610 $8.4M Reduce -5.8%
IEF iShares 7-10 Year Treasury B 0.99% 80,856 $7.9M Add +24.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.89% 12,463 $7.2M Add +5.1%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.83% 198,810 $6.6M Add +43.5%
FEZ State Street SPDR Euro Stoxx 0.76% 113,658 $6.1M Reduce -6.4%
VNQ Vanguard Real Estate ETF 0.74% 60,824 $5.9M Add +2.9%
IEUR iShares Core MSCI Europe ETF 0.74% 96,945 $5.9M Reduce -0.5%
QQQ Invesco QQQ Trust Series 1 0.69% 11,300 $5.5M Reduce -8.4%
MRK Merck & Co. Inc. 0.63% 44,709 $5.1M Reduce -20.9%
META Meta Platforms Inc. Class A 0.60% 8,415 $4.8M No change
ROP Roper Technologies Inc. 0.53% 7,701 $4.3M Reduce -0.8%
EPD Enterprise Products Partners 0.52% 143,540 $4.2M No change
GOVT iShares US Treasury Bond ETF 0.52% 176,657 $4.1M Reduce -3.5%
ET Energy Transfer LP 0.49% 243,703 $3.9M No change
PGNY Progyny Inc. 0.48% 229,090 $3.8M Reduce -40.8%
VRTX Vertex Pharmaceuticals Inc. 0.46% 7,919 $3.7M Reduce -5.7%
BRK.B Berkshire Hathaway Inc. Class B 0.45% 7,901 $3.6M Reduce -7.4%
ACGL Arch Capital Group Ltd. 0.45% 32,042 $3.6M Reduce -9.6%
ILF iShares Latin America 40 ETF 0.39% 120,458 $3.1M Reduce -22.3%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.37% 214,670 $2.9M Reduce -40.5%
MELI MercadoLibre Inc. 0.31% 1,203 $2.5M Add +11.1%
GOOGL Alphabet Inc. Class A 0.29% 13,920 $2.3M Reduce -3.2%
SPGI S&P Global Inc. 0.28% 4,354 $2.2M Reduce -6.2%
XOM Exxon Mobil Corp. 0.28% 18,811 $2.2M No change
VGLT Vanguard Long-Term Treasury 0.24% 31,691 $2.0M Reduce -43.4%
CAH Cardinal Health Inc. 0.24% 17,585 $1.9M Add +7.1%
EFX Equifax Inc. 0.22% 6,090 $1.8M New
DELL Dell Technologies -C 0.22% 15,030 $1.8M Add +478.7%
TER Teradyne Inc. 0.22% 13,061 $1.7M Reduce -36.0%
MORN Morningstar Inc. 0.22% 5,431 $1.7M Reduce -12.0%
KMI Kinder Morgan Inc. 0.22% 78,450 $1.7M New
MOH Molina Healthcare Inc. 0.22% 5,013 $1.7M Add +11.3%
DHR Danaher Corp. 0.21% 6,147 $1.7M Reduce -14.8%
TECH Bio-Techne Corp. 0.21% 20,960 $1.7M Reduce -9.8%
ADBE Adobe Inc. 0.20% 3,124 $1.6M Add +15.1%
MU Micron Technology Inc. 0.20% 15,480 $1.6M Reduce -18.1%
REGN Regeneron Pharmaceuticals 0.19% 1,483 $1.6M Reduce -5.7%
HUM Humana Inc. 0.17% 4,280 $1.4M New
FURY Fury Gold Mines Ltd. 0.17% 3,111,015 $1.4M Add +3.3%
AMZN Amazon.com Inc. 0.16% 6,800 $1.3M No change
TLT iShares 20+ Year Treasury BD 0.15% 12,604 $1.2M Reduce -41.5%
ABBV Abbvie Inc. 0.13% 5,390 $1.1M Add +35.4%
AAPL Apple Inc. 0.12% 4,276 $996K Add +6.1%
VICR Vicor Corp. 0.12% 23,550 $991K No change
HACK Amplify Cybersecurity ETF 0.12% 13,789 $942K Reduce -4.5%
WMT Walmart Inc. 0.10% 9,920 $801K New
PGR Progressive Corp. 0.10% 3,074 $780K New
KO The Coca-Cola Co. 0.10% 10,816 $777K Reduce -1.0%
BXMT Blackstone Mortgage Tru Class A 0.08% 35,000 $665K No change
XYLD Global X S&P 500 Cove Call E 0.08% 16,000 $664K No change
GGN Gamco GLBL Gold NTRL Res Inc. 0.08% 146,000 $625K No change
VTS Vitesse Energy Inc. 0.07% 23,820 $572K New
MLR Miller Industries Inc. 0.07% 9,120 $556K No change
AIOT Powerfleet Inc. 0.07% 128,571 $534K New
VSAT Viasat Inc. 0.06% 38,000 $454K No change
CVX Chevron Corp. 0.06% 2,996 $441K No change
IAU iShares Gold Trust 0.05% 8,711 $433K Add +5.4%
GOOG Alphabet Inc. Class C 0.05% 2,400 $401K Reduce -2.0%
IWF iShares Russell 1000 Growth 0.05% 1,052 $395K Reduce -6.7%
LLY Eli Lilly & Co. 0.04% 387 $343K Reduce -9.4%
JNJ Johnson & Johnson 0.04% 2,100 $340K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 1,426 $315K No change
SHOP Shopify Inc. Class A 0.04% 3,600 $289K No change
DDOG Datadog Inc. Class A 0.04% 2,500 $288K No change
GLW Corning Inc. 0.03% 6,136 $277K No change
TKO Tko Group Holdings Inc. 0.03% 1,792 $222K New
ISRG Intuitive Surgical Inc. 0.03% 450 $221K No change
PYPL PayPal Holdings Inc. 0.03% 2,630 $205K New
AUR Aurora Innovation Inc. 0.02% 22,500 $133K Add +4.7%

Portfolio Sells Q2 2024 → Q3 2024
PGNY Progyny Inc. Reduce -40.8% 0.48% −1.02
CPRT Copart Inc. Reduce -13.5% 3.14% −0.92
SPT Sprout Social Inc. Class A Sold out 0.00% −0.81
TYL Tyler Technologies Inc. Reduce -20.4% 3.15% −0.54
HQY Healthequity Inc. Reduce -0.8% 3.12% −0.46
SUPN Supernus Pharmaceuticals Inc. Reduce -23.6% 2.12% −0.45
SKWD Skyward Specialty Insurance Reduce -15.6% 3.22% −0.45
RDVT Red Violet Inc. Reduce -16.2% 2.84% −0.43
MRK Merck & Co. Inc. Reduce -20.9% 0.63% −0.31
NU Nu Holdings Ltd./Cayman Isl-A Reduce -40.5% 0.37% −0.26
CYBR Cyberark Software Ltd./Israel Reduce -8.3% 2.39% −0.25
SNEX Stonex Group Inc. Reduce -7.8% 2.86% −0.23
ODD Oddity Tech Ltd. Class A Reduce -0.6% 3.52% −0.21
MSFT Microsoft Corp. Reduce -5.8% 1.05% −0.20
CSGP Costar Group Inc. Reduce -0.2% 3.01% −0.20
VGLT Vanguard Long-Term Treasury Reduce -43.4% 0.24% −0.19
TER Teradyne Inc. Reduce -36.0% 0.22% −0.19
QTRX Quanterix Corp. Reduce -4.8% 1.19% −0.19
AKAM Akamai Technologies Inc. Sold out 0.00% −0.16
NVEE NV5 Global Inc. Reduce -1.1% 1.61% −0.14
MU Micron Technology Inc. Reduce -18.1% 0.20% −0.14
FNV Franco-Nevada Corp. Reduce -1.9% 2.58% −0.13
ILF iShares Latin America 40 ETF Reduce -22.3% 0.39% −0.13
TLT iShares 20+ Year Treasury BD Reduce -41.5% 0.15% −0.11
VNM Vaneck Vietnam ETF Sold out 0.00% −0.11
QQQ Invesco QQQ Trust Series 1 Reduce -8.4% 0.69% −0.11
ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −0.08
VRTX Vertex Pharmaceuticals Inc. Reduce -5.7% 0.46% −0.07
GOOGL Alphabet Inc. Class A Reduce -3.2% 0.29% −0.07
FEZ State Street SPDR Euro Stoxx Reduce -6.4% 0.76% −0.07
ROP Roper Technologies Inc. Reduce -0.8% 0.53% −0.06
GOVT iShares US Treasury Bond ETF Reduce -3.5% 0.52% −0.04
ACGL Arch Capital Group Ltd. Reduce -9.6% 0.45% −0.04
DHR Danaher Corp. Reduce -14.8% 0.21% −0.03
MORN Morningstar Inc. Reduce -12.0% 0.22% −0.03
REGN Regeneron Pharmaceuticals Reduce -5.7% 0.19% −0.03
INCY Incyte Corp. Reduce -1.7% 1.99% −0.02
TECH Bio-Techne Corp. Reduce -9.8% 0.21% −0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -7.4% 0.45% −0.01
IEUR iShares Core MSCI Europe ETF Reduce -0.5% 0.74% −0.01
GOOG Alphabet Inc. Class C Reduce -2.0% 0.05% −0.01
LLY Eli Lilly & Co. Reduce -9.4% 0.04% −0.01
HACK Amplify Cybersecurity ETF Reduce -4.5% 0.12% −0.01
IWF iShares Russell 1000 Growth Reduce -6.7% 0.05% −0.01
SPGI S&P Global Inc. Reduce -6.2% 0.28% +0.00
KO The Coca-Cola Co. Reduce -1.0% 0.10% +0.00
GSAT Globalstar Inc. Reduce -0.9% 1.13% +0.02
TTD Trade Desk Inc./the Class A Reduce -2.3% 2.74% +0.04
MKTX Marketaxess Holdings Inc. Reduce -9.9% 1.93% +0.12
LNTH Lantheus Holdings Inc. Reduce -12.3% 1.30% +0.13

Portfolio Buys Q2 2024 → Q3 2024
EQIX Equinix Inc. Add +223.2% 2.70% +1.93
S Sentinelone Inc. Class A Add +72.7% 1.97% +0.88
VTI VG Morningstar TS MKT ETF-US Add +17.5% 3.59% +0.47
AESI Atlas Energy Solutions Inc. Add +27.9% 1.59% +0.36
VICI Vici Properties Inc. Add +43.5% 0.83% +0.29
EFX Equifax Inc. New 0.22% +0.22
KMI Kinder Morgan Inc. New 0.22% +0.22
AVPT Avepoint Inc. Add +10.0% 1.60% +0.21
DELL Dell Technologies -C Add +478.7% 0.22% +0.17
IEF iShares 7-10 Year Treasury B Add +24.7% 0.99% +0.17
HUM Humana Inc. New 0.17% +0.17
WMT Walmart Inc. New 0.10% +0.10
PGR Progressive Corp. New 0.10% +0.10
VTS Vitesse Energy Inc. New 0.07% +0.07
VNQ Vanguard Real Estate ETF Add +2.9% 0.74% +0.07
MELI MercadoLibre Inc. Add +11.1% 0.31% +0.07
AIOT Powerfleet Inc. New 0.07% +0.07
ABBV Abbvie Inc. Add +35.4% 0.13% +0.04
MOH Molina Healthcare Inc. Add +11.3% 0.22% +0.03
TKO Tko Group Holdings Inc. New 0.03% +0.03
PYPL PayPal Holdings Inc. New 0.03% +0.03
CAH Cardinal Health Inc. Add +7.1% 0.24% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +5.1% 0.89% +0.02
FURY Fury Gold Mines Ltd. Add +3.3% 0.17% +0.01
AAPL Apple Inc. Add +6.1% 0.12% +0.01
AUR Aurora Innovation Inc. Add +4.7% 0.02% +0.01
IAU iShares Gold Trust Add +5.4% 0.05% +0.01
ADBE Adobe Inc. Add +15.1% 0.20% −0.00
FROG Jfrog Ltd. Add +33.1% 1.38% −0.07
DV Doubleverify Holdings Inc. Add +14.2% 1.56% −0.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 107$932.6MLGND, GSAT, RDVT, VTI, SNEX
Q1 2026 99$809.2MGSAT, LGND, SNEX, SUPN, VTI
Q4 2025 109$897.7MGSAT, LGND, VICR, RDVT, VTI
Q3 2025 110$897.8MGSAT, LGND, ODD, SNEX, CLBT
Q2 2025 102$851.1MODD, LGND, SNEX, GSAT, AXON
Q1 2025 99$775.5MSNEX, LGND, ODD, CVCO, GSAT
Q4 2024 101$847.6MCLBT, LGND, AXON, SKWD, ODD
Q3 2024 102$801.3MAXON, CLBT, LGND, VTI, ODD
Q2 2024 97$740.6MCPRT, ODD, TYL, SKWD, LGND
Q1 2024 91$739.3MCPRT, ODD, CSGP, AXON, SKWD