Ashford Capital Management

Ashford Capital Management as of Dec. 31, 2012

Portfolio Holdings for Ashford Capital Management

Ashford Capital Management holds 0 positions in its portfolio as reported in the December 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     1312   145000 SH       SOLE                 145000        0        0
ADOBE SYSTEMS                  COM              00724F101      211     5600 SH       SOLE                   5600        0        0
ISHARES BARCLAYS AGGREGATE     COM              464287226     3905    35151 SH       SOLE                  35151        0        0
ARGAN INC.                     COM              04010E109     1116    62000 SH       SOLE                  62000        0        0
ANADARKO PETROLEUM CORPORATI N COM              032511107      524     7054 SH       SOLE                   7054        0        0
ANTARES PHARMA INC.            COM              036642106      996   261500 SH       SOLE                 261500        0        0
BALCHEM CORP                   COM              057665200     6249   171433 SH       SOLE                 171433        0        0
BLACK DIAMOND INC.             COM              09202G101    19069  2325544 SH       SOLE                2325544        0        0
BRISTOL-MYERS SQUIBB CO        COM              110122108      615    18877 SH       SOLE                  18877        0        0
BERKSHIRE HATHAWAY A           COM              084670108     2949       22 SH       SOLE                     22        0        0
BERKSHIRE HATHAWAY B           COM              084670207     1510    16835 SH       SOLE                  16835        0        0
BROWN & BROWN INC              COM              115236101     6943   272715 SH       SOLE                 272715        0        0
CEVA, INC.                     COM              157210105      221    14000 SH       SOLE                  14000        0        0
CARLYLE GROUP                  COM              14309L102      474    18200 SH       SOLE                  18200        0        0
CORE LABORATORIES NV           COM              N22717107     5634    51540 SH       SOLE                  51540        0        0
CANTEL MEDICAL CORP            COM              138098108      520    17500 SH       SOLE                  17500        0        0
CONCUR TECHNOLOGIES, INC.      COM              206708109     5361    79400 SH       SOLE                  79400        0        0
COOPER COMPANIES, INC          COM              216648402     7698    83235 SH       SOLE                  83235        0        0
CONOCO PHILLIPS                COM              20825C104      280     4837 SH       SOLE                   4837        0        0
COPART INC                     COM              217204106     9904   335720 SH       SOLE                 335720        0        0
CARBO CERAMICS INC.            COM              140781105     3436    43866 SH       SOLE                  43866        0        0
COSTAR GROUP INC               COM              22160N109     5986    66980 SH       SOLE                  66980        0        0
CVS/CAREMARK CORPORATION       COM              281020107      226     5000 SH       SOLE                   5000        0        0
CHEVRON CORPORATION            COM              166764100      354     3270 SH       SOLE                   3270        0        0
CYMER INC                      COM              232572107     1944    21500 SH       SOLE                  21500        0        0
POWERSHARES DB AGRICULTURE F N COM              73936B408      500    17882 SH       SOLE                  17882        0        0
POWERSHARES DB COMMODITY IND X COM              73935S105      642    23101 SH       SOLE                  23101        0        0
DU PONT (E.I.) DE NEMOURS      COM              263534109      571    12700 SH       SOLE                  12700        0        0
WISDOM TREE EMERGING MARKETS E COM              97717W315     6459   112936 SH       SOLE                 112936        0        0
DAILY JOURNAL CORP             COM              233912104     2062    22285 SH       SOLE                  22285        0        0
DORMAN PRODUCTS INC.           COM              258278100     6382   180602 SH       SOLE                 180602        0        0
DUKE ENERGY CORP               COM              26441C204      263     4121 SH       SOLE                   4121        0        0
ISHARES DJ SELECT DIVIDEND     COM              464287168    10606   185294 SH       SOLE                 185294        0        0
ISHARES ASIA/PACIFIC DIVIDEN   COM              464286293     1407    25925 SH       SOLE                  25925        0        0
EBIX INC.                      COM              278715206     9929   615964 SH       SOLE                 615964        0        0
EBIX INC. (S-1)                COM              278715206     3864   239714 SH       SOLE                 239714        0        0
ISHARES MSCI EAFE GROWTH IND X COM              464288885     6522   108626 SH       SOLE                 108626        0        0
ISHARES MSCI EAFE VALUE INDE   COM              464288877     8462   173974 SH       SOLE                 173974        0        0
EHEALTH                        COM              28238P109     3792   138000 SH       SOLE                 138000        0        0
ELLIE MAE INC                  COM              28849P100      849    30600 SH       SOLE                  30600        0        0
EARTHLINK, INC.                COM              270321102     5177   801350 SH       SOLE                 801350        0        0
BOTTOMLINE TECHNOLOGIES        COM              101388106     2378    90104 SH       SOLE                  90104        0        0
EPIQ SYSTEMS INC               COM              26882D109     3439   269759 SH       SOLE                 269759        0        0
EQUINIX INC                    COM              29444U502     1061     5146 SH       SOLE                   5146        0        0
EXPEDITORS INTL                COM              302130109      878    22200 SH       SOLE                  22200        0        0
FEI COMPANY                    COM              30241L109     3952    71250 SH       SOLE                  71250        0        0
FRANCO-NEVADA CORP             COM              351858105     3877    67817 SH       SOLE                  67817        0        0
GENERAL ELECTRIC COMPANY       COM              369604103      946    45076 SH       SOLE                  45076        0        0
GEOSPACE TECHNOLOGIES CORP     COM              37364X109     3653    41100 SH       SOLE                  41100        0        0
GENERAL MILLS INC              COM              370334104     1266    31315 SH       SOLE                  31315        0        0
HAEMONETICS CORP.              COM              405024100     3189    78086 SH       SOLE                  78086        0        0
HAIN CELESTIAL GROUP INC       COM              405217100      271     5000 SH       SOLE                   5000        0        0
HEALTHCARE SERVICES GROUP      COM              421906108    11390   490325 SH       SOLE                 490325        0        0
HERCULES TECHNOLOGY GROWTH C P COM              427096508     4712   423403 SH       SOLE                 423403        0        0
ISHARES IBOXX H/Y CORP BOND  U COM              464288513     2974    31855 SH       SOLE                  31855        0        0
IAC/INTERACTIVE CORPORATION    COM              44919P508    15089   319391 SH       SOLE                 319391        0        0
IHS INC.                       COM              451734107    10393   108258 SH       SOLE                 108258        0        0
INCYTE CORP                    COM              45337C102      681    41000 SH       SOLE                  41000        0        0
ISHARES S^P 500 VALUE INDEX    COM              464287408     2530    38112 SH       SOLE                  38112        0        0
ISHARES S^P 500 GROWTH INDEX   COM              464287309      837    11048 SH       SOLE                  11048        0        0
KELLOGG CO                     COM              487836108      255     4565 SH       SOLE                   4565        0        0
KINDER MORGAN HOLDCO LLC       COM              49456B101     2674    75700 SH       SOLE                  75700        0        0
KINDER MORGAN ENERGY PRTNRS    COM              494550106     4436    55600 SH       SOLE                  55600        0        0
KINDER MORGAN MANAGEMENT       COM              49455U100     5012    66415 SH       SOLE                  66415        0        0
COCA-COLA CO                   COM              191216100      886    24443 SH       SOLE                  24443        0        0
KRAFT FOODS GROUP INC.         COM              50076Q106      425     9345 SH       SOLE                   9345        0        0
LITTELFUSE INC                 COM              537008104     3166    51310 SH       SOLE                  51310        0        0
LIGAND PHARMACEUTICALS - CL    COM              53220K504     8038   387571 SH       SOLE                 387571        0        0
LKQ CORP                       COM              501889208     8369   396622 SH       SOLE                 396622        0        0
LOGMEIN, INC                   COM              54142L109      831    37100 SH       SOLE                  37100        0        0
LIVEPERSON INC                 COM              538146101     1643   125000 SH       SOLE                 125000        0        0
ISHARES IBOXX INV. GRADE COR . COM              464287242     2606    21540 SH       SOLE                  21540        0        0
LIQUIDITY SERVICES             COM              53635B107     8788   215085 SH       SOLE                 215085        0        0
LIBERTY PROPERTIES             COM              531172104      394    11000 SH       SOLE                  11000        0        0
MONDELEZ INTERNATIONAL INC.    COM              609207105      673    26436 SH       SOLE                  26436        0        0
MEDIDATA SOLUTIONS INC         COM              58471A105     2795    71350 SH       SOLE                  71350        0        0
MEASUREMENT SPECIALTIES, INC   COM              583421102      822    23900 SH       SOLE                  23900        0        0
MARKETAXESS HOLDINGS INC       COM              57060D108     6016   170420 SH       SOLE                 170420        0        0
MARKET VECTORS LONG MUNICIPA   COM              57060U886     1898    94357 SH       SOLE                  94357        0        0
3M CO                          COM              88579Y101      496     5343 SH       SOLE                   5343        0        0
ALTRIA GROUP INC               COM              02209S103     1186    37726 SH       SOLE                  37726        0        0
ISHARES S^P NAT AMT-FREE MUN   COM              464288414     4630    41844 SH       SOLE                  41844        0        0
MAXIM INTEGRATED               COM              57772K101      503    17100 SH       SOLE                  17100        0        0
NATIONAL AMERICAN UNIVERSITY H COM              63245Q105     2481   644396 SH       SOLE                 644396        0        0
NATIONAL AMERICAN UNIVERSITY H COM              63245Q105      608   175333 SH       SOLE                 175333        0        0
NEW MOUNTAIN FINANCE CORP      COM              647551100    10991   737620 SH       SOLE                 737620        0        0
NORFOLK SOUTHERN CORP          COM              655844108     1054    17037 SH       SOLE                  17037        0        0
NUANCE COMMUNICATIONS INC      COM              67020Y100     4996   223850 SH       SOLE                 223850        0        0
ISHARES S^P NY AMT-FREE MUNI B COM              464288323      365     3270 SH       SOLE                   3270        0        0
ONYX PHARMACEUTICALS INC.      COM              683399109     6371    84350 SH       SOLE                  84350        0        0
ORASURE TECHNOLOGIES INC.      COM              68554V108     4108   572100 SH       SOLE                 572100        0        0
PEPSICO INC                    COM              713448108     2086    30482 SH       SOLE                  30482        0        0
PHILIP MORRIS INTERNATIONAL    COM              718172109      282     3373 SH       SOLE                   3373        0        0
PPG INDUSTRIES INC             COM              693506107     1312     9696 SH       SOLE                   9696        0        0
PROS HOLDINGS INC.             COM              74346Y103     5010   273900 SH       SOLE                 273900        0        0
POWERSHARES INS NATL MUN BND   COM              73936T474     8123   315461 SH       SOLE                 315461        0        0
POWERSHARES INSURED NY MUNI  O COM              73936T458      545    22190 SH       SOLE                  22190        0        0
ROYAL GOLD INC                 COM              780287108     7221    88759 SH       SOLE                  88759        0        0
RED HAT INC                    COM              756577102      450     8500 SH       SOLE                   8500        0        0
ROPER INDUSTRIES, INC          COM              776696106     2231    20010 SH       SOLE                  20010        0        0
COMSCORE INC                   COM              20564W105      739    53600 SH       SOLE                  53600        0        0
SEACHANGE INT`L INC.           COM              811699107     8571   886380 SH       SOLE                 886380        0        0
SIGMA-ALDRICH CORPORATION      COM              826552101      265     3600 SH       SOLE                   3600        0        0
SINGLE TOUCH SYSTEMS, INC.     COM              82932T107     2288  3520491 SH       SOLE                3520491        0        0
SVB FINANCIAL GROUP            COM              78486Q101    10151   181358 SH       SOLE                 181358        0        0
SILVER WHEATON CORP            COM              828336107     5399   149639 SH       SOLE                 149639        0        0
SANTARUS INC.                  COM              802817304    26735  2434927 SH       SOLE                2434927        0        0
SPS COMMERCE INC               COM              78463M107     1249    33500 SH       SOLE                  33500        0        0
SPDR S^P 500 ETF TRUST         COM              78462F103     2297    16130 SH       SOLE                  16130        0        0
SCIQUEST INC                   COM              80908T101     1076    67831 SH       SOLE                  67831        0        0
STERICYCLE INC                 COM              858912108      594     6370 SH       SOLE                   6370        0        0
STAMPS.COM INC.                COM              852857200     6822   270700 SH       SOLE                 270700        0        0
ISHARES S^P SHORT TERM NATIO A COM              464288158      285     2681 SH       SOLE                   2681        0        0
SKYWORKS SOLUTIONS INC         COM              83088M102     2235   110109 SH       SOLE                 110109        0        0
SYSCO CORPORATION              COM              871829107     1077    34022 SH       SOLE                  34022        0        0
AT^T                           COM              00206R102      296     8770 SH       SOLE                   8770        0        0
TASER INT`L INC.               COM              87651B104     1770   198000 SH       SOLE                 198000        0        0
ISHARES BARCLAYS 20+ YEAR TR A COM              464287432      234     1928 SH       SOLE                   1928        0        0
TANGOE INC/CT                  COM              87582Y108     1198   100892 SH       SOLE                 100892        0        0
TREE.COM INC.                  COM              894675107     1107    61400 SH       SOLE                  61400        0        0
T ROWE PRICE GROUP INC.        COM              74144T108      273     4196 SH       SOLE                   4196        0        0
TILE SHOP HOLDINGS INC         COM              88677Q109     2144   127400 SH       SOLE                 127400        0        0
TYLER TECHNOLOGIES, INC        COM              902252105     2187    45150 SH       SOLE                  45150        0        0
CVR PARTNERS LP                COM              126633106      379    15000 SH       SOLE                  15000        0        0
UDR INC.                       COM              902653104      384    16147 SH       SOLE                  16147        0        0
ULTA SALON COSMETICS AND FRA R COM              90384S303      570     5800 SH       SOLE                   5800        0        0
UNION PACIFIC CORP             COM              907818108     2630    20916 SH       SOLE                  20916        0        0
VANGUARD REIT ETF              COM              922908553     3366    51155 SH       SOLE                  51155        0        0
VERISK ANALYTICS INC - CLASS A COM              92345Y106      215     4225 SH       SOLE                   4225        0        0
VIASAT INC.                    COM              92552V100     5994   154100 SH       SOLE                 154100        0        0
VANGUARD EXTENDED MARKET ETF   COM              922908652     5210    86120 SH       SOLE                  86120        0        0
VERIZON COMMUNICATIONS INC     COM              92343V104      294     6784 SH       SOLE                   6784        0        0
WAGEWORKS INC.                 COM              930427109     5935   333400 SH       SOLE                 333400        0        0
WISCONSIN ENERGY CORP          COM              976657106     1056    28654 SH       SOLE                  28654        0        0
WESTERN UNION                  COM              959802109      199    14635 SH       SOLE                  14635        0        0
WOODWARD INC                   COM              980745103     1468    38500 SH       SOLE                  38500        0        0
EXXON MOBIL CORP               COM              30231G102     4103    47408 SH       SOLE                  47408        0        0
IPATH S^P 500 DYNAMIC VIX ET   COM              06741L609     6863   149064 SH       SOLE                 149064        0        0
WORLD ENERGY SOLUTIONS INC     COM              98145W208      535   121500 SH       SOLE                 121500        0        0
ISHARES MSCI EAFE INDEX FUND   COM              464287465      229     4021 SH       SOLE                   4021        0        0