ASHFORD CAPITAL MANAGEMENT INC
SEC Form 13F institutional filer · CIK 0000897070
13F-HR · 47 reported holdings · 2026-03-31
Reported long-US-equity value
$0.21B
Top-10 concentration
64.8%
ASHFORD CAPITAL MANAGEMENT INC — $210M AUM allocation strategy
ASHFORD CAPITAL MANAGEMENT INC files SEC Form 13F and reports $210M of long US equity value across 47 reported holdings for 2026-03-31.
Its largest sector bet is Industrials 18.6%, followed by Real Estate 15.6% and Health Care 11.1%.
The top 10 holdings account for 65% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
ASHFORD CAPITAL MANAGEMENT INC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$210M
total across 47 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
65% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$INCY +26.2K sh · +$1.82M+$KMI +15.8K sh · +$962K+$GOOG +8.63K sh · +$2.19M
Biggest trims (shares)
−$CSGP −145K sh · −$12.5M−$TTD −94.8K sh · −$3.9M−$CPRT −84.1K sh · −$3.71M
Exited to nil (held last quarter, gone now)
$ROP ($2.97M last qtr)$VRSK ($1.47M last qtr)$CAH ($1.25M last qtr)$QQQ ($201K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Aerospace & Defense13.8%—
- Data Center REITs10.9%—
- Biotechnology9.4%—
- Systems Software5.2%—
- Rail Transportation4.8%—
- Interactive Media & Services4.3%—
- Application Software3.5%—
- Hotel & Resort REITs2.6%—
- Other holdings45.5%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
7 of 7 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $EQIX | Equinix Inc. Common Stock REIT | 23.4K | $22.9M | -49 | 10.9% |
| $HONA | Honeywell Aerospace Inc | 22 | $15.8M | +0 | 7.5% |
| $INCY | Incyte Corp | 165K | $15.6M | +26.2K | 7.4% |
| $AXON | Axon Enterprise Inc | 31K | $13.1M | +1.76K | 6.3% |
| $UNP | Union Pacific Corporation | 41.3K | $10M | +0 | 4.8% |
| $TYL | Tyler Technologies Inc | 21.6K | $7.39M | -10.6K | 3.5% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 20K | $5.75M | +8.63K | 2.7% |
…and 40 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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