Ashford Capital Management

Ashford Capital Management as of Sept. 30, 2012

Portfolio Holdings for Ashford Capital Management

Ashford Capital Management holds 0 positions in its portfolio as reported in the September 2012 quarterly 13F filing

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NAME OF ISSUER             TITLE OF CLASS        CUSIP    VALUE(K) SH/P AMT S/P P/C  INV DSC   MANAGERS       SOLE   SHARED    NONE

ACCELRYS INC                   COM              00430U103      173    20000 SH       SOLE                  20000        0        0
ISHARES BARCLAYS AGGREGATE     COM              464287226     6246    55544 SH       SOLE                  55544        0        0
ANGIE`S LIST INC.              COM              034754101      794    75000 SH       SOLE                  75000        0        0
ANADARKO PETROLEUM CORPORATI N COM              032511107      493     7054 SH       SOLE                   7054        0        0
AMERICAN PUBLIC EDUCATION IN   COM              02913V103     1229    33726 SH       SOLE                  33726        0        0
ARIBA INC.                     COM              04033V203     1344    30000 SH       SOLE                  30000        0        0
ASCENA RETAIL GROUP INC.       COM              04351G101     1680    78300 SH       SOLE                  78300        0        0
ANTARES PHARMA INC.            COM              036642106     1045   239600 SH       SOLE                 239600        0        0
BALCHEM CORP                   COM              057665200     7238   197072 SH       SOLE                 197072        0        0
BLACK DIAMOND INC.             COM              09202G101    21125  2408806 SH       SOLE                2408806        0        0
BRISTOL-MYERS SQUIBB CO        COM              110122108      837    24795 SH       SOLE                  24795        0        0
BERKSHIRE HATHAWAY A           COM              084670108     2919       22 SH       SOLE                     22        0        0
BERKSHIRE HATHAWAY B           COM              084670207     1485    16835 SH       SOLE                  16835        0        0
BROWN & BROWN INC              COM              115236101     8170   313385 SH       SOLE                 313385        0        0
CEVA, INC.                     COM              157210105      202    14040 SH       SOLE                  14040        0        0
CARLYLE GROUP                  COM              14309L102      438    16700 SH       SOLE                  16700        0        0
CORE LABORATORIES NV           COM              N22717107     7124    58640 SH       SOLE                  58640        0        0
CANTEL MEDICAL CORP            COM              138098108     1327    49000 SH       SOLE                  49000        0        0
CONCUR TECHNOLOGIES, INC.      COM              206708109     6940    94124 SH       SOLE                  94124        0        0
COOPER COMPANIES, INC          COM              216648402     9015    95435 SH       SOLE                  95435        0        0
CONOCO PHILLIPS                COM              20825C104      361     6313 SH       SOLE                   6313        0        0
COPART INC                     COM              217204106     9512   343098 SH       SOLE                 343098        0        0
CARBO CERAMICS INC.            COM              140781105     1810    28766 SH       SOLE                  28766        0        0
COSTAR GROUP INC               COM              22160N109     6588    80800 SH       SOLE                  80800        0        0
CONSTANT CONTACT INC.          COM              210313102     1322    76000 SH       SOLE                  76000        0        0
CVS/CAREMARK CORPORATION       COM              281020107      228     5000 SH       SOLE                   5000        0        0
CHEVRON CORPORATION            COM              166764100      381     3270 SH       SOLE                   3270        0        0
CYMER INC                      COM              232572107     9362   183348 SH       SOLE                 183348        0        0
POWERSHARES DB AGRICULTURE F N COM              73936B408      477    16208 SH       SOLE                  16208        0        0
POWERSHARES DB COMMODITY IND X COM              73935S105      606    21117 SH       SOLE                  21117        0        0
DU PONT (E.I.) DE NEMOURS      COM              263534109      925    18400 SH       SOLE                  18400        0        0
WISDOM TREE EMERGING MARKETS E COM              97717W315     5704   106281 SH       SOLE                 106281        0        0
DAILY JOURNAL CORP             COM              233912104     2090    22285 SH       SOLE                  22285        0        0
DOLBY LABORATORIES INC.        COM              25659T107     1617    49380 SH       SOLE                  49380        0        0
DORMAN PRODUCTS INC.           COM              258278100     6666   211554 SH       SOLE                 211554        0        0
DUKE ENERGY CORP               COM              26441C105      267     4121 SH       SOLE                   4121        0        0
ISHARES DJ SELECT DIVIDEND     COM              464287168    12858   222920 SH       SOLE                 222920        0        0
ISHARES ASIA/PACIFIC DIVIDEN   COM              464286293      660    12570 SH       SOLE                  12570        0        0
EBIX INC.                      COM              278715206    16776   710527 SH       SOLE                 710527        0        0
EBIX INC. (S-1)                COM              278715206     5660   239714 SH       SOLE                 239714        0        0
ISHARES MSCI EAFE GROWTH IND X COM              464288885     7150   126587 SH       SOLE                 126587        0        0
ISHARES MSCI EAFE VALUE INDE   COM              464288877     8854   194971 SH       SOLE                 194971        0        0
EHEALTH                        COM              28238P109     2240   119346 SH       SOLE                 119346        0        0
ELLIE MAE INC                  COM              28849P100      575    21100 SH       SOLE                  21100        0        0
EARTHLINK, INC.                COM              270321102     6610   927050 SH       SOLE                 927050        0        0
BOTTOMLINE TECHNOLOGIES        COM              101388106     2593   105015 SH       SOLE                 105015        0        0
EPIQ SYSTEMS INC               COM              26882D109     3792   282559 SH       SOLE                 282559        0        0
EQUINIX INC                    COM              29444U502     1066     5172 SH       SOLE                   5172        0        0
EXPEDITORS INTL                COM              302130109      807    22200 SH       SOLE                  22200        0        0
FEI COMPANY                    COM              30241L109     4574    85500 SH       SOLE                  85500        0        0
FRANCO-NEVADA CORP             COM              351858105     4520    76708 SH       SOLE                  76708        0        0
GENERAL ELECTRIC COMPANY       COM              369604103     1320    58139 SH       SOLE                  58139        0        0
GENERAL MILLS INC              COM              370334104     1352    33928 SH       SOLE                  33928        0        0
GREENLIGHT CAPITAL RE LTD      COM              G4095J109     2277    92000 SH       SOLE                  92000        0        0
GT ADVANCED TECHNOLOGIES, IN   COM              36191U106     1375   252500 SH       SOLE                 252500        0        0
HAEMONETICS CORP.              COM              405024100     3444    42943 SH       SOLE                  42943        0        0
HAIN CELESTIAL GROUP INC       COM              405217100      378     6000 SH       SOLE                   6000        0        0
HALLIBURTON CO                 COM              406216101      203     6026 SH       SOLE                   6026        0        0
HEALTHCARE SERVICES GROUP      COM              421906108    12914   564936 SH       SOLE                 564936        0        0
HERCULES TECHNOLOGY GROWTH C P COM              427096508     4224   383680 SH       SOLE                 383680        0        0
ISHARES IBOXX H/Y CORP BOND  U COM              464288513     5531    59925 SH       SOLE                  59925        0        0
IAC/INTERACTIVE CORPORATION    COM              44919P508    15446   296704 SH       SOLE                 296704        0        0
IHS INC.                       COM              451734107    11250   115558 SH       SOLE                 115558        0        0
ISHARES S^P 500 VALUE INDEX    COM              464287408     3270    49699 SH       SOLE                  49699        0        0
ISHARES S^P 500 GROWTH INDEX   COM              464287309     1517    19486 SH       SOLE                  19486        0        0
KELLOGG CO                     COM              487836108      333     6454 SH       SOLE                   6454        0        0
KRAFT FOODS INC - CLASS A      COM              50075N104     1159    28039 SH       SOLE                  28039        0        0
KINDER MORGAN HOLDCO LLC       COM              49456B101     3094    87100 SH       SOLE                  87100        0        0
KINDER MORGAN ENERGY PRTNRS    COM              494550106     5165    62600 SH       SOLE                  62600        0        0
KINDER MORGAN MANAGEMENT       COM              49455U100     5369    70279 SH       SOLE                  70279        0        0
COCA-COLA CO                   COM              191216100      951    25081 SH       SOLE                  25081        0        0
LITTELFUSE INC                 COM              537008104     3127    55310 SH       SOLE                  55310        0        0
LIGAND PHARMACEUTICALS - CL    COM              53220K504     6738   392867 SH       SOLE                 392867        0        0
LKQ CORP                       COM              501889208     7923   428834 SH       SOLE                 428834        0        0
LOGMEIN, INC                   COM              54142L109     3587   159929 SH       SOLE                 159929        0        0
LIVEPERSON INC                 COM              538146101     3924   216694 SH       SOLE                 216694        0        0
ISHARES IBOXX INV. GRADE COR . COM              464287242     2338    19197 SH       SOLE                  19197        0        0
LIQUIDITY SERVICES             COM              53635B107     8886   176980 SH       SOLE                 176980        0        0
LIBERTY PROPERTIES             COM              531172104      399    11000 SH       SOLE                  11000        0        0
ISHARES BARCLAYS MBS BOND FU D COM              464288588      663     6075 SH       SOLE                   6075        0        0
MEDIDATA SOLUTIONS INC         COM              58471A105     4759   114677 SH       SOLE                 114677        0        0
MEASUREMENT SPECIALTIES, INC   COM              583421102      953    28900 SH       SOLE                  28900        0        0
MARKETAXESS HOLDINGS INC       COM              57060D108     5842   184820 SH       SOLE                 184820        0        0
3M CO                          COM              88579Y101      600     6493 SH       SOLE                   6493        0        0
ALTRIA GROUP INC               COM              02209S103     1331    39867 SH       SOLE                  39867        0        0
ISHARES S^P NAT AMT-FREE MUN   COM              464288414     2226    19874 SH       SOLE                  19874        0        0
MAXIM INTEGRATED               COM              57772K101      455    17100 SH       SOLE                  17100        0        0
NATIONAL AMERICAN UNIVERSITY H COM              63245Q105     3450   690093 SH       SOLE                 690093        0        0
NATIONAL AMERICAN UNIVERSITY H COM              63245Q105      789   175333 SH       SOLE                 175333        0        0
NEW MOUNTAIN FINANCE CORP      COM              647551100     7499   506000 SH       SOLE                 506000        0        0
NORFOLK SOUTHERN CORP          COM              655844108     1215    19095 SH       SOLE                  19095        0        0
NUANCE COMMUNICATIONS INC      COM              67020Y100     7730   310550 SH       SOLE                 310550        0        0
ONYX PHARMACEUTICALS INC.      COM              683399109     7081    83800 SH       SOLE                  83800        0        0
OYO GEOSPACE CORP              COM              671074102     3128    25550 SH       SOLE                  25550        0        0
PEET`S COFFEE AND TEA INC.     COM              705560100     6963    94937 SH       SOLE                  94937        0        0
PEPSICO INC                    COM              713448108     2309    32628 SH       SOLE                  32628        0        0
PFIZER INC                     COM              717081103      259    10425 SH       SOLE                  10425        0        0
PHILIP MORRIS INTERNATIONAL    COM              718172109     1692    18807 SH       SOLE                  18807        0        0
PPG INDUSTRIES INC             COM              693506107     1384    12055 SH       SOLE                  12055        0        0
PROS HOLDINGS INC.             COM              74346Y103     6131   321500 SH       SOLE                 321500        0        0
POWERSHARES INS NATL MUN BND   COM              73936T474     1802    69995 SH       SOLE                  69995        0        0
POWERSHARES INSURED NY MUNI  O COM              73936T458      457    18397 SH       SOLE                  18397        0        0
ROYAL GOLD INC                 COM              780287108    10362   103792 SH       SOLE                 103792        0        0
RED HAT INC                    COM              756577102      541     9500 SH       SOLE                   9500        0        0
ROPER INDUSTRIES, INC          COM              776696106     2199    20010 SH       SOLE                  20010        0        0
RPX CORP                       COM              74972G103      448    40000 SH       SOLE                  40000        0        0
COMSCORE INC                   COM              20564W105     7191   471554 SH       SOLE                 471554        0        0
SEACHANGE INT`L INC.           COM              811699107     5019   639400 SH       SOLE                 639400        0        0
SIGMA-ALDRICH CORPORATION      COM              826552101      259     3600 SH       SOLE                   3600        0        0
SVB FINANCIAL GROUP            COM              78486Q101    11968   197955 SH       SOLE                 197955        0        0
SILVER WHEATON CORP            COM              828336107     6674   168073 SH       SOLE                 168073        0        0
SANTARUS INC.                  COM              802817304    21831  2458501 SH       SOLE                2458501        0        0
SPS COMMERCE INC               COM              78463M107     1866    48500 SH       SOLE                  48500        0        0
SPDR S^P 500 ETF TRUST         COM              78462F103     1815    12606 SH       SOLE                  12606        0        0
SCIQUEST INC                   COM              80908T101     1235    67831 SH       SOLE                  67831        0        0
STERICYCLE INC                 COM              858912108      604     6670 SH       SOLE                   6670        0        0
STAMPS.COM INC.                COM              852857200     5465   236150 SH       SOLE                 236150        0        0
ISHARES S^P SHORT TERM NATIO A COM              464288158      500     4680 SH       SOLE                   4680        0        0
SKYWORKS SOLUTIONS INC         COM              83088M102     6897   292736 SH       SOLE                 292736        0        0
SYSCO CORPORATION              COM              871829107     1172    37485 SH       SOLE                  37485        0        0
AT^T                           COM              00206R102      331     8770 SH       SOLE                   8770        0        0
TASER INT`L INC.               COM              87651B104     1845   305700 SH       SOLE                 305700        0        0
TEVA PHARMACEUTICAL ADR        COM              881624209      242     5850 SH       SOLE                   5850        0        0
ISHARES BARCLAYS 20+ YEAR TR A COM              464287432      329     2646 SH       SOLE                   2646        0        0
TANGOE INC/CT                  COM              87582Y108     1411   107489 SH       SOLE                 107489        0        0
TREE.COM INC.                  COM              894675107     1845   117768 SH       SOLE                 117768        0        0
T ROWE PRICE GROUP INC.        COM              74144T108      266     4196 SH       SOLE                   4196        0        0
TILE SHOP HOLDINGS INC         COM              88677Q109      173    12000 SH       SOLE                  12000        0        0
TYLER TECHNOLOGIES, INC        COM              902252105     1988    45150 SH       SOLE                  45150        0        0
CVR PARTNERS LP                COM              126633106      460    17500 SH       SOLE                  17500        0        0
UDR INC.                       COM              902653104      401    16147 SH       SOLE                  16147        0        0
ULTA SALON COSMETICS AND FRA R COM              90384S303      953     9900 SH       SOLE                   9900        0        0
UNION PACIFIC CORP             COM              907818108     2483    20916 SH       SOLE                  20916        0        0
VANGUARD REIT ETF              COM              922908553     3598    55378 SH       SOLE                  55378        0        0
VERISK ANALYTICS INC - CLASS A COM              92345Y106      274     5750 SH       SOLE                   5750        0        0
VIASAT INC.                    COM              92552V100     6605   176700 SH       SOLE                 176700        0        0
VANGUARD EXTENDED MARKET ETF   COM              922908652     5595    93936 SH       SOLE                  93936        0        0
IPATH S^P 500 VIX SHORT TERM F COM              06740C261      180    20000 SH       SOLE                  20000        0        0
VERIZON COMMUNICATIONS INC     COM              92343V104      334     7320 SH       SOLE                   7320        0        0
WAGEWORKS INC.                 COM              930427109     2307   132200 SH       SOLE                 132200        0        0
WISCONSIN ENERGY CORP          COM              976657106     1166    30947 SH       SOLE                  30947        0        0
WESTERN UNION                  COM              959802109      293    16063 SH       SOLE                  16063        0        0
WOODWARD INC                   COM              980745103     2341    68907 SH       SOLE                  68907        0        0
EXXON MOBIL CORP               COM              30231G102     4490    49095 SH       SOLE                  49095        0        0
IPATH S^P 500 DYNAMIC VIX ET   COM              06741L609    15945   302212 SH       SOLE                 302212        0        0
WORLD ENERGY SOLUTIONS INC     COM              98145W208      458   109000 SH       SOLE                 109000        0        0
ISHARES MSCI USA ESG SELECT    COM              464288802      181     3023 SH       SOLE                   3023        0        0
ISHARES S^P NY AMT-FREE MUNI   COM              464288323      184     1632 SH       SOLE                   1632        0        0