13F HOLDINGS REPORT
ASHFORD CAPITAL MANAGEMENT INC
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0000897070-25-000013
Total Value
$897.8M
Positions
110
Other Managers
0
Confidential Omitted
No
Holdings (110)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | GLOBALSTAR INC. | GSAT | 1,409,321 | $51.3M | 5.71% |
| 2 | LIGAND PHARMACEUTICALS - CL B | LGNZZ | 244,430 | $43.3M | 4.82% |
| 3 | ODDITY TECH, LTD. - CL A | ODD | 548,592 | $34.2M | 3.81% |
| 4 | STONEX GROUP, INC. | SNEX | 313,244 | $31.6M | 3.52% |
| 5 | CELLEBRITE DI LTD/ISRAEL | CLBT | 1,700,285 | $31.5M | 3.51% |
| 6 | VANGUARD TOTAL STOCK MARKET ETF | 922908769 | 92,534 | $30.4M | 3.38% |
| 7 | RED VIOLET INC | RDVT | 580,708 | $30.3M | 3.38% |
| 8 | FRANCO-NEVADA CORP | FNV | 126,252 | $28.1M | 3.13% |
| 9 | CAVCO INDUSTRIES, INC. | 149568107 | 48,019 | $27.9M | 3.11% |
| 10 | SUPERNUS PHARMACEUTICALS INC. | SUPN | 563,718 | $26.9M | 3.00% |
| 11 | HEALTHEQUITY, INC. | HQY | 271,963 | $25.8M | 2.87% |
| 12 | COSTAR GROUP INC | CSGP | 280,738 | $23.7M | 2.64% |
| 13 | AXON ENTERPRISE, INC. | AXON | 29,936 | $21.5M | 2.39% |
| 14 | EQUINIX INC | EQIX | 24,359 | $19.1M | 2.13% |
| 15 | COPART INC | CPRT | 420,349 | $18.9M | 2.11% |
| 16 | ACUITY, INC. | AYI | 54,637 | $18.8M | 2.10% |
| 17 | SKYWARD SPECIALTY INSURANCE GROUP | 830940102 | 387,972 | $18.5M | 2.06% |
| 18 | TYLER TECHNOLOGIES, INC | TYL | 33,098 | $17.3M | 1.93% |
| 19 | BERKSHIRE HATHAWAY A | BRK-A | 22 | $16.6M | 1.85% |
| 20 | KINSALE CAPITAL GROUP INC. | 49714P108 | 38,175 | $16.2M | 1.81% |
| 21 | CYBERARK SOFTWARE LTD/ISRAEL | M2682V108 | 32,784 | $15.8M | 1.76% |
| 22 | UFP TECHNOLOGIES, INC. | UFPT | 75,610 | $15.1M | 1.68% |
| 23 | JFROG LTD | FROG | 309,408 | $14.6M | 1.63% |
| 24 | GENEDX HOLDINGS - CL A. | WGSWW | 132,456 | $14.3M | 1.59% |
| 25 | CLEARWATER ANALYTICS HDS - CL A | CWAN | 777,719 | $14.0M | 1.56% |
| 26 | SENTINELONE, INC. - CLASS A | S | 713,147 | $12.6M | 1.40% |
| 27 | REPOSITRAK, INC. | TRAK | 815,208 | $12.1M | 1.35% |
| 28 | AVEPOINT, INC. | AVPT | 803,369 | $12.1M | 1.34% |
| 29 | INCYTE CORP | INCY | 134,220 | $11.4M | 1.27% |
| 30 | NCINO, INC. | NCNO | 413,257 | $11.2M | 1.25% |
| 31 | VICOR CORP | VICR | 225,192 | $11.2M | 1.25% |
| 32 | VOX ROYALTY CORP. | VOXR | 2,557,400 | $11.0M | 1.22% |
| 33 | UNION PACIFIC CORP | UNP | 41,345 | $9.8M | 1.09% |
| 34 | MICROSOFT CORPORATION | MSFT | 18,009 | $9.3M | 1.04% |
| 35 | VIA TRANSPORTATION, INC. - CL A | 92556W104 | 184,650 | $8.9M | 0.99% |
| 36 | PORCH GROUP INC | PRCH | 528,380 | $8.9M | 0.99% |
| 37 | FRANKLIN SENIOR LOAN ETF | FGDL | 364,498 | $8.8M | 0.98% |
| 38 | THE TRADE DESK - CL A | 88339J105 | 177,229 | $8.7M | 0.97% |
| 39 | DUTCH BROS INC. | BROS | 161,390 | $8.4M | 0.94% |
| 40 | SPDR EURO STOXX 50 FUND | 78463X202 | 123,833 | $7.7M | 0.86% |
| 41 | ATLAS ENERGY SOLUTIONS, INC. | AESI | 665,135 | $7.6M | 0.84% |
| 42 | SPDR S&P 500 ETF TRUST | SPY | 11,169 | $7.4M | 0.83% |
| 43 | ISHARES CORE MSCI EUROPE ETF | 46434V738 | 101,849 | $6.9M | 0.77% |
| 44 | VICI PROPERTIES | 925652109 | 200,460 | $6.5M | 0.73% |
| 45 | ENTERPRISE PRODUCTS PARTNERS | 293792107 | 164,070 | $5.1M | 0.57% |
| 46 | ISHARES CHINA LARGE-CAP ETF | 464287184 | 116,112 | $4.8M | 0.53% |
| 47 | FACEBOOK INC - A | META | 6,005 | $4.4M | 0.49% |
| 48 | VANECK RARE EARTH & METALS ETF | 92189H805 | 64,745 | $4.3M | 0.47% |
| 49 | ISHARES MSCI MEXICO ETF | 464286822 | 57,392 | $3.9M | 0.44% |
| 50 | ISHARES FALLEN ANGELS USD BOND ETF | 46435G474 | 138,793 | $3.9M | 0.43% |
| 51 | ISHARES MSCI BRAZIL | 464286400 | 124,272 | $3.9M | 0.43% |
| 52 | ENERGY TRANSFER LP | ET-PI | 217,103 | $3.7M | 0.41% |
| 53 | ROPER TECHNOLOGIES, INC | ROP | 7,316 | $3.6M | 0.41% |
| 54 | BERKSHIRE HATHAWAY B | BRK-A | 7,121 | $3.6M | 0.40% |
| 55 | VERTEX PHARMACEUTICALS INC. | VRTX | 8,245 | $3.2M | 0.36% |
| 56 | VANGUARD REIT ETF | 922908553 | 34,252 | $3.1M | 0.35% |
| 57 | TERADYNE INC. | TER | 22,736 | $3.1M | 0.35% |
| 58 | AMPLIFY CYBERSECURITY ETF | 032108664 | 33,489 | $2.9M | 0.32% |
| 59 | PURE STORAGE | 74624M102 | 33,768 | $2.8M | 0.32% |
| 60 | ISHARES RUSSELL 2000 GROWTH INDEX FUND | 464287648 | 8,774 | $2.8M | 0.31% |
| 61 | TKO GROUP HOLDINGS, INC. | TKO | 12,527 | $2.5M | 0.28% |
| 62 | FURY GOLD MINES LTD | FURY | 3,650,015 | $2.4M | 0.27% |
| 63 | MODINE MANUFACTURING CO | 607828100 | 16,616 | $2.4M | 0.26% |
| 64 | ALPHABET INC. CLASS A | GOOG | 9,676 | $2.4M | 0.26% |
| 65 | MERCK & CO | MRK | 26,683 | $2.2M | 0.25% |
| 66 | MERCADO LIBRE | MELI | 955 | $2.2M | 0.25% |
| 67 | THE TRAVELERS COMPANIES | TRV | 7,764 | $2.2M | 0.24% |
| 68 | BIO-TECHNE CORP | TECH | 37,905 | $2.1M | 0.23% |
| 69 | EXXON MOBIL CORP | XOM | 18,436 | $2.1M | 0.23% |
| 70 | ARCH CAPITAL GROUP LTD | G0450A105 | 22,673 | $2.1M | 0.23% |
| 71 | KINDER MORGAN HOLDCO LLC | EP-PC | 71,708 | $2.0M | 0.23% |
| 72 | CARDINAL HEALTH | CAH | 12,717 | $2.0M | 0.22% |
| 73 | S&P GLOBAL INC. | SPGI | 4,043 | $2.0M | 0.22% |
| 74 | DANAHER CORPORATION | 235851102 | 9,919 | $2.0M | 0.22% |
| 75 | INTUITIVE SURGICAL, INC. | ISRG | 4,223 | $1.9M | 0.21% |
| 76 | AFFIRM HOLDINGS - CL A. | AFRM | 23,603 | $1.7M | 0.19% |
| 77 | VERISK ANALYTICS INC - CLASS A | VRSK | 6,564 | $1.7M | 0.18% |
| 78 | MORNINGSTAR INC | MORN | 6,648 | $1.5M | 0.17% |
| 79 | AMAZON | AMZN | 6,700 | $1.5M | 0.16% |
| 80 | BROADCOM INC | AVGO | 3,100 | $1.0M | 0.11% |
| 81 | WAL-MART STORES INC | WMT | 9,711 | $1.0M | 0.11% |
| 82 | APPLE, INC. | AAPL | 3,015 | $767,709 | 0.09% |
| 83 | GAMCO GLOBAL GOLD NATURAL RESOURCES AND INCOME TRU | 36465A109 | 146,000 | $752,630 | 0.08% |
| 84 | ROBLOX CORP. - CL A | RBLX | 5,210 | $721,689 | 0.08% |
| 85 | SHOPIFY, INC. - CLASS A | SHOP | 4,680 | $695,495 | 0.08% |
| 86 | COCA-COLA CO | KO | 10,075 | $668,174 | 0.07% |
| 87 | RBC BEARINGS INC. | RBC | 1,700 | $663,493 | 0.07% |
| 88 | CORNING INC | GLW | 6,136 | $503,336 | 0.06% |
| 89 | CHEVRON CORPORATION | CVX | 2,996 | $465,249 | 0.05% |
| 90 | MORGAN STANLEY | MS-PQ | 2,670 | $424,423 | 0.05% |
| 91 | VITESSE ENERGY INC. | VTS | 17,830 | $414,191 | 0.05% |
| 92 | MP MATERIALS CORP. | MP | 6,000 | $402,420 | 0.04% |
| 93 | VERTIV HOLDINGS CO. | VRT | 2,500 | $377,150 | 0.04% |
| 94 | MILLER INDUSTRIES RSUS | 600551204 | 9,120 | $368,630 | 0.04% |
| 95 | MARKETAXESS HOLDINGS INC | MKTX | 2,000 | $348,500 | 0.04% |
| 96 | ALPHABET INC - CL C | GOOG | 1,400 | $340,970 | 0.04% |
| 97 | INTERNATIONAL BUSINESS MACHINES CORP | INTR | 1,196 | $337,463 | 0.04% |
| 98 | ISHARES RUSSELL 1000 GROWTH INDEX FUND | 464287614 | 701 | $328,355 | 0.04% |
| 99 | ISHARES BITCOIN TRUST | IBIT | 5,000 | $325,000 | 0.04% |
| 100 | JOBY AVIATION - CLASS A | JOBY-WT | 20,000 | $322,800 | 0.04% |
| 101 | JOHNSON & JOHNSON | JNJ | 1,700 | $315,214 | 0.04% |
| 102 | CELESTICA | CLS | 1,210 | $298,120 | 0.03% |
| 103 | AURORA INNOVATION, INC. | AUROW | 52,500 | $282,975 | 0.03% |
| 104 | PROGRESSIVE CORP/THE | 743315103 | 1,065 | $263,002 | 0.03% |
| 105 | ELI LILLY & COMPANY | LLY | 336 | $256,368 | 0.03% |
| 106 | AT&T | T-PC | 8,770 | $247,665 | 0.03% |
| 107 | BITMINE IMMERSION TECH. | 09175A206 | 4,000 | $207,720 | 0.02% |
| 108 | ISHARES GOLD TRUST | IAU | 2,850 | $207,395 | 0.02% |
| 109 | RESEARCH SOLUTIONS, INC | RSSS | 50,000 | $186,500 | 0.02% |
| 110 | GLOBAL X NASDAQ 100 COVERED CALL ETF | 37954Y483 | 10,000 | $170,100 | 0.02% |