Ashford Capital Management Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 18, 2025), Ashford Capital Management Inc. reported 102 stock positions worth $851.1 million. Its top holding was Oddity Tech Class A (ODD) at 5.0% of the portfolio, followed by Ligand Pharmaceuticals (LGND, 4.0%) and Stonex (SNEX, 3.9%). Compared with Q1 2025, it opened 9 new positions, sold out of 6, added to 26 and reduced 47. The biggest buy was a new position in Ufp Technologies (UFPT) and the biggest sale an exit from Invesco Senior Loan ETF (BKLN).

Most Recent 13F
Q2 2026
Location
WILMINGTON, DE
CIK
0000897070
Portfolio Value
$851.1M (Q2 2025)
SEC Filing
0000897070-25-000009 ↗ filed Aug 18, 2025

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 Q3 2024 Q4 2024: $847.6M Q4 2024 Q1 2025: $775.5M Q1 2025 Q2 2025: $851.1M $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 · $851.1M
ODD Oddity Tech Ltd. Class A 5.01% 564,954 $42.6M Reduce -21.1%
LGND Ligand Pharmaceuticals 4.04% 302,527 $34.4M Add +1.5%
SNEX Stonex Group Inc. 3.87% 361,432 $32.9M Reduce -16.1%
GSAT Globalstar Inc. 3.76% 1,357,618 $32.0M Reduce -1.7%
AXON Axon Enterprise Inc. 3.64% 37,406 $31.0M Add +0.7%
HQY Healthequity Inc. 3.44% 279,404 $29.3M Add +1.6%
RDVT Red Violet Inc. 3.43% 593,514 $29.2M Add +1.3%
VTI VG Morningstar TS MKT ETF-US 3.34% 93,592 $28.4M Add +4.4%
CVCO Cavco Industries Inc. 2.81% 54,973 $23.9M Reduce -0.9%
SKWD Skyward Specialty Insurance 2.76% 406,032 $23.5M Reduce -7.7%
CSGP Costar Group Inc. 2.75% 291,103 $23.4M Add +1.5%
FNV Franco-Nevada Corp. 2.66% 138,078 $22.6M Reduce -6.7%
CPRT Copart Inc. 2.50% 433,576 $21.3M Add +1.3%
CLBT Cellebrite Di Ltd. 2.38% 1,265,670 $20.3M Add +2.3%
CWAN Clearwater Analytics HDS-A 2.36% 915,444 $20.1M Add +63.9%
TYL Tyler Technologies Inc. 2.35% 33,684 $20.0M Add +0.8%
EQIX Equinix Inc. 2.30% 24,599 $19.6M Add +0.9%
KNSL Kinsale Capital Group Inc. 2.28% 40,130 $19.4M Add +2.3%
CYBR Cyberark Software Ltd./Israel 2.26% 47,203 $19.2M Reduce -0.8%
SUPN Supernus Pharmaceuticals Inc. 2.13% 574,372 $18.1M Add +1.4%
UFPT Ufp Technologies Inc. 2.03% 70,790 $17.3M New
AYI Acuity Inc. 1.98% 56,477 $16.8M Reduce -12.4%
BRK.A Berkshire Hathaway Inc. Class A 1.88% 22 $16.0M No change
WGS Genedx Holdings Corp. 1.86% 171,526 $15.8M Add +82.1%
TRAK Repositrak Inc. 1.83% 792,154 $15.6M Add +93.7%
S Sentinelone Inc. Class A 1.82% 845,743 $15.5M Reduce -5.1%
AESI Atlas Energy Solutions Inc. 1.75% 1,113,535 $14.9M Reduce -4.4%
AVPT Avepoint Inc. 1.68% 739,930 $14.3M Reduce -16.8%
FROG Jfrog Ltd. 1.65% 319,798 $14.0M Reduce -0.9%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 1.46% 172,040 $12.4M Add +1.1%
FLBL Franklin Senior Loan ETF 1.33% 467,284 $11.3M New
VICR Vicor Corp. 1.23% 231,462 $10.5M Reduce -2.8%
NCNO Ncino Inc. 1.21% 369,140 $10.3M New
INCY Incyte Corp. 1.17% 146,400 $10.0M Reduce -20.7%
UNP Union Pacific Corp. 1.12% 41,345 $9.5M No change
MSFT Microsoft Corp. 1.05% 18,015 $9.0M Reduce -1.2%
FEZ State Street SPDR Euro Stoxx 0.88% 125,338 $7.5M Reduce -13.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.81% 11,169 $6.9M Reduce -0.1%
IEUR iShares Core MSCI Europe ETF 0.79% 101,959 $6.7M Reduce -1.9%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.79% 205,760 $6.7M No change
EPD Enterprise Products Partners 0.61% 166,570 $5.2M No change
META Meta Platforms Inc. Class A 0.52% 6,005 $4.4M Reduce -28.1%
ET Energy Transfer LP 0.49% 230,803 $4.2M No change
VNQ Vanguard Real Estate ETF 0.48% 46,184 $4.1M Reduce -32.3%
ROP Roper Technologies Inc. 0.48% 7,204 $4.1M Add +4.4%
FXI iShares China Large-Cap ETF 0.47% 108,664 $4.0M New
EWZ iShares MSCI Brazil ETF 0.44% 131,200 $3.8M Reduce -17.6%
BRK.B Berkshire Hathaway Inc. Class B 0.43% 7,526 $3.7M Add +6.4%
VRTX Vertex Pharmaceuticals Inc. 0.40% 7,707 $3.4M Reduce -5.9%
EWW iShares MSCI Mexico ETF 0.40% 55,988 $3.4M Reduce -30.3%
GSHD Goosehead Insurance Inc. Class A 0.34% 27,658 $2.9M Reduce -1.1%
MELI MercadoLibre Inc. 0.33% 1,079 $2.8M Add +0.8%
REMX Vaneck Rar Earth ND STG-Usdi 0.32% 66,313 $2.7M New
SPGI S&P Global Inc. 0.27% 4,386 $2.3M Add +8.0%
TKO Tko Group Holdings Inc. 0.27% 12,527 $2.3M No change
HACK Amplify Cybersecurity ETF 0.27% 26,350 $2.3M Add +63.1%
ISRG Intuitive Surgical Inc. 0.24% 3,781 $2.1M Add +17.3%
CAH Cardinal Health Inc. 0.24% 12,076 $2.0M Reduce -11.8%
XOM Exxon Mobil Corp. 0.23% 18,436 $2.0M No change
KMI Kinder Morgan Inc. 0.23% 66,086 $1.9M Add +19.6%
ACGL Arch Capital Group Ltd. 0.23% 21,158 $1.9M Add +16.6%
MORN Morningstar Inc. 0.22% 6,059 $1.9M Add +12.3%
GOOGL Alphabet Inc. Class A 0.22% 10,730 $1.9M No change
FURY Fury Gold Mines Ltd. 0.21% 3,650,015 $1.8M No change
NVEE NV5 Global Inc. 0.21% 77,410 $1.8M Reduce -81.9%
MKTX Marketaxess Holdings Inc. 0.20% 7,771 $1.7M Reduce -0.8%
AFRM Affirm Holdings Inc. 0.19% 23,903 $1.7M Reduce -5.5%
AMZN Amazon.com Inc. 0.17% 6,700 $1.5M Reduce -1.5%
MDT Medtronic PLC 0.17% 16,824 $1.5M Reduce -12.4%
MRK Merck & Co. Inc. 0.17% 18,362 $1.5M Reduce -12.8%
EFX Equifax Inc. 0.17% 5,466 $1.4M Reduce -12.4%
ADBE Adobe Inc. 0.15% 3,381 $1.3M Reduce -12.3%
DHR Danaher Corp. 0.14% 6,098 $1.2M Reduce -12.4%
P Everpure Inc. Class A filed as PURE STORAGE INC 0.14% 20,609 $1.2M Reduce -12.3%
TER Teradyne Inc. 0.12% 11,069 $995K Reduce -12.4%
TECH Bio-Techne Corp. 0.11% 18,968 $976K Reduce -12.4%
WMT Walmart Inc. 0.11% 9,711 $950K Reduce -1.2%
AVGO Broadcom Inc. 0.10% 3,100 $855K New
DELL Dell Technologies -C 0.09% 6,503 $797K Reduce -55.7%
KO The Coca-Cola Co. 0.08% 10,075 $713K Reduce -3.5%
PGR Progressive Corp. 0.08% 2,474 $660K No change
GGN Gamco GLBL Gold NTRL Res Inc. 0.08% 146,000 $641K No change
AAPL Apple Inc. 0.07% 3,015 $619K Reduce -11.9%
RBLX Roblox Corp. Class A 0.06% 5,210 $548K No change
CVX Chevron Corp. 0.05% 2,996 $429K No change
SHOP Shopify Inc. Class A 0.05% 3,600 $415K No change
MLR Miller Industries Inc. 0.05% 9,120 $405K No change
VTS Vitesse Energy Inc. 0.05% 17,830 $394K No change
MS Morgan Stanley 0.04% 2,670 $376K Reduce -36.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.04% 1,196 $353K Reduce -6.0%
AIOT Powerfleet Inc. 0.04% 80,000 $345K Reduce -37.8%
GLW Corning Inc. 0.04% 6,136 $323K No change
AUR Aurora Innovation Inc. 0.04% 57,000 $299K Add +50.0%
IWF iShares Russell 1000 Growth 0.04% 701 $298K Reduce -26.8%
LLY Eli Lilly & Co. 0.03% 336 $262K Reduce -4.8%
JNJ Johnson & Johnson 0.03% 1,700 $260K No change
IAU iShares Gold Trust 0.03% 4,138 $258K Reduce -37.3%
T AT&T Inc. 0.03% 8,770 $254K No change
GOOG Alphabet Inc. Class C 0.03% 1,400 $248K No change
IBIT iShares Bitcoin Trust ETF 0.03% 3,500 $214K New
JOBY Joby Aviation Inc. 0.02% 20,000 $211K New
QYLD Global X Nasd 100 Cov Call 0.02% 10,000 $167K New

Portfolio Sells Q1 2025 → Q2 2025
BKLN Invesco Senior Loan ETF Sold out 0.00% −1.44
AESI Atlas Energy Solutions Inc. Reduce -4.4% 1.75% −0.93
CVCO Cavco Industries Inc. Reduce -0.9% 2.81% −0.91
NVEE NV5 Global Inc. Reduce -81.9% 0.21% −0.85
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.53
SNEX Stonex Group Inc. Reduce -16.1% 3.87% −0.37
QTRX Quanterix Corp. Sold out 0.00% −0.37
FNV Franco-Nevada Corp. Reduce -6.7% 2.66% −0.35
VNQ Vanguard Real Estate ETF Reduce -32.3% 0.48% −0.31
S Sentinelone Inc. Class A Reduce -5.1% 1.82% −0.27
INCY Incyte Corp. Reduce -20.7% 1.17% −0.27
SKWD Skyward Specialty Insurance Reduce -7.7% 2.76% −0.25
AYI Acuity Inc. Reduce -12.4% 1.98% −0.21
VICR Vicor Corp. Reduce -2.8% 1.23% −0.20
EWU iShares MSCI United Kingdom Sold out 0.00% −0.17
FEZ State Street SPDR Euro Stoxx Reduce -13.5% 0.88% −0.14
EWW iShares MSCI Mexico ETF Reduce -30.3% 0.40% −0.13
VRTX Vertex Pharmaceuticals Inc. Reduce -5.9% 0.40% −0.11
META Meta Platforms Inc. Class A Reduce -28.1% 0.52% −0.10
EWZ iShares MSCI Brazil ETF Reduce -17.6% 0.44% −0.09
GSHD Goosehead Insurance Inc. Class A Reduce -1.1% 0.34% −0.08
DELL Dell Technologies -C Reduce -55.7% 0.09% −0.08
MRK Merck & Co. Inc. Reduce -12.8% 0.17% −0.07
XYLD Global X S&P 500 Cove Call E Sold out 0.00% −0.06
AIOT Powerfleet Inc. Reduce -37.8% 0.04% −0.05
MDT Medtronic PLC Reduce -12.4% 0.17% −0.05
TECH Bio-Techne Corp. Reduce -12.4% 0.11% −0.05
DHR Danaher Corp. Reduce -12.4% 0.14% −0.04
ADBE Adobe Inc. Reduce -12.3% 0.15% −0.04
EFX Equifax Inc. Reduce -12.4% 0.17% −0.03
AAPL Apple Inc. Reduce -11.9% 0.07% −0.03
GPGI Gpgi Inc. Sold out 0.00% −0.02
IAU iShares Gold Trust Reduce -37.3% 0.03% −0.02
MS Morgan Stanley Reduce -36.6% 0.04% −0.02
TER Teradyne Inc. Reduce -12.4% 0.12% −0.02
MKTX Marketaxess Holdings Inc. Reduce -0.8% 0.20% −0.01
IEUR iShares Core MSCI Europe ETF Reduce -1.9% 0.79% −0.01
KO The Coca-Cola Co. Reduce -3.5% 0.08% −0.01
IWF iShares Russell 1000 Growth Reduce -26.8% 0.04% −0.01
LLY Eli Lilly & Co. Reduce -4.8% 0.03% −0.01
CAH Cardinal Health Inc. Reduce -11.8% 0.24% −0.01
WMT Walmart Inc. Reduce -1.2% 0.11% +0.00
IBM Intl Business Machines Corp. Reduce -6.0% 0.04% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.1% 0.81% +0.00
P Everpure Inc. Class A Reduce -12.3% 0.14% +0.01
AMZN Amazon.com Inc. Reduce -1.5% 0.17% +0.01
AVPT Avepoint Inc. Reduce -16.8% 1.68% +0.02
GSAT Globalstar Inc. Reduce -1.7% 3.76% +0.04
AFRM Affirm Holdings Inc. Reduce -5.5% 0.19% +0.05
MSFT Microsoft Corp. Reduce -1.2% 1.05% +0.17

Portfolio Buys Q1 2025 → Q2 2025
UFPT Ufp Technologies Inc. New 2.03% +2.03
FLBL Franklin Senior Loan ETF New 1.33% +1.33
NCNO Ncino Inc. New 1.21% +1.21
AXON Axon Enterprise Inc. Add +0.7% 3.64% +1.12
WGS Genedx Holdings Corp. Add +82.1% 1.86% +0.78
TRAK Repositrak Inc. Add +93.7% 1.83% +0.76
RDVT Red Violet Inc. Add +1.3% 3.43% +0.59
FXI iShares China Large-Cap ETF New 0.47% +0.47
CWAN Clearwater Analytics HDS-A Add +63.9% 2.36% +0.43
REMX Vaneck Rar Earth ND STG-Usdi New 0.32% +0.32
HQY Healthequity Inc. Add +1.6% 3.44% +0.31
TTD Trade Desk Inc./the Class A Add +1.1% 1.46% +0.25
VTI VG Morningstar TS MKT ETF-US Add +4.4% 3.34% +0.16
HACK Amplify Cybersecurity ETF Add +63.1% 0.27% +0.12
AVGO Broadcom Inc. New 0.10% +0.10
MELI MercadoLibre Inc. Add +0.8% 0.33% +0.06
ISRG Intuitive Surgical Inc. Add +17.3% 0.24% +0.04
IBIT iShares Bitcoin Trust ETF New 0.03% +0.03
KMI Kinder Morgan Inc. Add +19.6% 0.23% +0.03
JOBY Joby Aviation Inc. New 0.02% +0.02
QYLD Global X Nasd 100 Cov Call New 0.02% +0.02
MORN Morningstar Inc. Add +12.3% 0.22% +0.01
SPGI S&P Global Inc. Add +8.0% 0.27% +0.01
AUR Aurora Innovation Inc. Add +50.0% 0.04% +0.00
ACGL Arch Capital Group Ltd. Add +16.6% 0.23% +0.00
LGND Ligand Pharmaceuticals Add +1.5% 4.04% 0.00
ROP Roper Technologies Inc. Add +4.4% 0.48% −0.04
BRK.B Berkshire Hathaway Inc. Class B Add +6.4% 0.43% −0.06
TYL Tyler Technologies Inc. Add +0.8% 2.35% −0.16
CSGP Costar Group Inc. Add +1.5% 2.75% −0.18
KNSL Kinsale Capital Group Inc. Add +2.3% 2.28% −0.18
EQIX Equinix Inc. Add +0.9% 2.30% −0.27
SUPN Supernus Pharmaceuticals Inc. Add +1.4% 2.13% −0.27
CPRT Copart Inc. Add +1.3% 2.50% −0.63
CLBT Cellebrite Di Ltd. Add +2.3% 2.38% −0.72

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