Ashford Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ADOBE SYSTEMS	COM	00724F101	608	5,600	SH		SOLE	0	5,600	0	0
ISHARES CORE U.S. AGGREGATE BOND FUND	COM	464287226	7,234	64,351	SH		SOLE	0	64,351	0	0
ARGAN INC.	COM	04010E109	21,257	359,130	SH		SOLE	0	359,130	0	0
AMAG PHARMACEUTICALS, INC.	COM	00163U106	3,028	123,550	SH		SOLE	0	123,550	0	0
AMERICAN SOFTWARE INC.	COM	029683109	278	25,000	SH		SOLE	0	25,000	0	0
AMAZON	COM	023135106	1,593	1,902	SH		SOLE	0	1,902	0	0
ANADARKO PETROLEUM CORPORATION	COM	032511107	324	5,112	SH		SOLE	0	5,112	0	0
NATUS MEDICAL INC.	COM	639050103	10,990	279,703	SH		SOLE	0	279,703	0	0
BALCHEM CORP	COM	057665200	3,562	45,949	SH		SOLE	0	45,949	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	356	6,596	SH		SOLE	0	6,596	0	0
BERKSHIRE HATHAWAY A	COM	084670108	4,757	22	SH		SOLE	0	22	0	0
BERKSHIRE HATHAWAY B	COM	084670207	992	6,867	SH		SOLE	0	6,867	0	0
BLACKROCK CREDIT ALLOCATION INCOME TRUST FUND	COM	092508100	1,762	131,989	SH		SOLE	0	131,989	0	0
META FINANCIAL GROUP INC	COM	59100U108	24,456	403,495	SH		SOLE	0	403,495	0	0
CARLYLE GROUP	COM	14309L102	235	15,100	SH		SOLE	0	15,100	0	0
CHEGG INC.	COM	163092109	9,950	1,403,320	SH		SOLE	0	1,403,320	0	0
CORE LABORATORIES NV	COM	N22717107	1,876	16,703	SH		SOLE	0	16,703	0	0
CANTEL MEDICAL CORP	COM	138098108	347	4,450	SH		SOLE	0	4,450	0	0
COPART INC	COM	217204106	17,013	317,648	SH		SOLE	0	317,648	0	0
ISHARES CORE US CREDIT BOND	COM	464288620	2,772	24,354	SH		SOLE	0	24,354	0	0
COSTAR GROUP INC	COM	22160N109	7,327	33,836	SH		SOLE	0	33,836	0	0
CVS HEALTH CORP	COM	126650100	396	4,450	SH		SOLE	0	4,450	0	0
CHEVRON CORPORATION	COM	166764100	337	3,270	SH		SOLE	0	3,270	0	0
DU PONT (E.I.) DE NEMOURS	COM	263534109	451	6,729	SH		SOLE	0	6,729	0	0
DANAHER CORPORATION	COM	235851102	360	4,587	SH		SOLE	0	4,587	0	0
DAILY JOURNAL CORP	COM	233912104	3,280	14,976	SH		SOLE	0	14,976	0	0
DIGITAL THEATER SYSTEMS INC.	COM	23335C101	4,413	103,735	SH		SOLE	0	103,735	0	0
EBIX INC.	COM	278715206	28,404	499,630	SH		SOLE	0	499,630	0	0
ISHARES MSCI EMERGING MARKETS MINIMUM VOLATILITY E	COM	464286533	1,135	20,988	SH		SOLE	0	20,988	0	0
ISHARES MSCI EAFE INDEX FUND	COM	464287465	2,919	49,371	SH		SOLE	0	49,371	0	0
ISHARES TR MSCI EAFE GROWTH INDEX FD	COM	464288885	2,461	35,993	SH		SOLE	0	35,993	0	0
ISHARES MSCI EAFE VALUE ETF	COM	464288877	2,405	52,097	SH		SOLE	0	52,097	0	0
ENVESTNET INC	COM	29404K106	7,723	211,880	SH		SOLE	0	211,880	0	0
EQUINIX INC	COM	29444U700	1,877	5,209	SH		SOLE	0	5,209	0	0
EATON VANCE MUNICIPAL INCOME	COM	27826U108	302	21,202	SH		SOLE	0	21,202	0	0
EXPEDITORS INTL	COM	302130109	500	9,700	SH		SOLE	0	9,700	0	0
FACEBOOK INC - A	COM	30303M102	757	5,900	SH		SOLE	0	5,900	0	0
SPDR EURO STOXX 50 FUND	COM	78463X202	2,141	65,351	SH		SOLE	0	65,351	0	0
FLEETMATICS GROUP PLC	COM	G35569105	3,108	51,811	SH		SOLE	0	51,811	0	0
FINANCIAL ENGINES, INC	COM	317485100	6,352	213,795	SH		SOLE	0	213,795	0	0
FRANCO-NEVADA CORP	COM	351858105	4,972	71,165	SH		SOLE	0	71,165	0	0
GUGGENHEIM TAXABLE MUNICIPAL MANAGED DURATION TRUS	COM	401664107	1,527	65,658	SH		SOLE	0	65,658	0	0
GENERAL MILLS INC	COM	370334104	542	8,482	SH		SOLE	0	8,482	0	0
CORNING INC	COM	219350105	213	8,989	SH		SOLE	0	8,989	0	0
ALPHABET INC - CL C	COM	38259P706	799	1,028	SH		SOLE	0	1,028	0	0
ALPHABET INC. CLASS A	COM	38259P508	370	460	SH		SOLE	0	460	0	0
HEALTHCARE SERVICES GROUP	COM	421906108	1,105	27,930	SH		SOLE	0	27,930	0	0
ILLUMINA INC	COM	452327109	291	1,600	SH		SOLE	0	1,600	0	0
INCYTE CORP	COM	45337C102	11,071	117,419	SH		SOLE	0	117,419	0	0
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUN	COM	11273Q109	3,758	273,926	SH		SOLE	0	273,926	0	0
IHS MARKIT LTD	COM	G47567105	8,218	218,845	SH		SOLE	0	218,845	0	0
INVESCO QUALITY MUNIPAL INCOME	COM	46133G107	474	34,367	SH		SOLE	0	34,367	0	0
JOHNSON & JOHNSON	COM	478160104	372	3,150	SH		SOLE	0	3,150	0	0
KINDER MORGAN HOLDCO LLC	COM	49456B101	497	21,500	SH		SOLE	0	21,500	0	0
COCA-COLA CO	COM	191216100	961	22,702	SH		SOLE	0	22,702	0	0
LITTELFUSE INC	COM	537008104	8,688	67,450	SH		SOLE	0	67,450	0	0
LIGAND PHARMACEUTICALS - CL B	COM	53220K504	10,902	106,820	SH		SOLE	0	106,820	0	0
LKQ CORP	COM	501889208	3,972	112,010	SH		SOLE	0	112,010	0	0
ELI LILLY & COMPANY	COM	532457108	201	2,505	SH		SOLE	0	2,505	0	0
LIFELOCK, INC.	COM	53224V100	16,182	956,400	SH		SOLE	0	956,400	0	0
LOGMEIN, INC	COM	54142L109	18,134	200,623	SH		SOLE	0	200,623	0	0
ISHARES IBOXX INV. GRADE CORP. BOND FUND	COM	464287242	3,616	29,352	SH		SOLE	0	29,352	0	0
MANHATTAN ASSOCIATES INC	COM	562750109	4,028	69,900	SH		SOLE	0	69,900	0	0
REMARK MEDIA INC.	COM	75954W107	8,637	1,919,416	SH		SOLE	0	1,919,416	0	0
MEDICINES COMPANY	COM	584688105	14,102	373,657	SH		SOLE	0	373,657	0	0
MONDELEZ INTERNATIONAL INC.	COM	609207105	504	11,490	SH		SOLE	0	11,490	0	0
MEDIDATA SOLUTIONS INC	COM	58471A105	11,381	204,099	SH		SOLE	0	204,099	0	0
MERCADO LIBRE	COM	58733R102	418	2,260	SH		SOLE	0	2,260	0	0
MARKETAXESS HOLDINGS INC	COM	57060D108	11,747	70,943	SH		SOLE	0	70,943	0	0
3M CO	COM	88579Y101	366	2,077	SH		SOLE	0	2,077	0	0
ALTRIA GROUP INC	COM	02209S103	551	8,718	SH		SOLE	0	8,718	0	0
MERCK & CO	COM	58933Y105	325	5,200	SH		SOLE	0	5,200	0	0
MICROSOFT CORPORATION	COM	594918104	1,492	25,900	SH		SOLE	0	25,900	0	0
MANAGED DURATION INV GRADE	COM	56165R103	2,694	187,571	SH		SOLE	0	187,571	0	0
NEW RELIC, INC.	COM	64829B100	9,309	242,920	SH		SOLE	0	242,920	0	0
NORFOLK SOUTHERN CORP	COM	655844108	667	6,876	SH		SOLE	0	6,876	0	0
NV5 GLOBAL, INC.	COM	62945V109	4,407	136,400	SH		SOLE	0	136,400	0	0
PEPSICO INC	COM	713448108	706	6,491	SH		SOLE	0	6,491	0	0
PROCTOR & GAMBLE COMPANY	COM	742718109	223	2,482	SH		SOLE	0	2,482	0	0
PPG INDUSTRIES INC	COM	693506107	590	5,713	SH		SOLE	0	5,713	0	0
POWERSHARES NATIONAL AMT-FREE MUNICIPAL BOND PORTF	COM	73936T474	2,530	97,165	SH		SOLE	0	97,165	0	0
POWERSHARES QQQ NASDAQ 100	COM	73935A104	4,220	35,547	SH		SOLE	0	35,547	0	0
ROPER TECHNOLOGIES, INC	COM	776696106	3,037	16,645	SH		SOLE	0	16,645	0	0
SITO MOBILE LTD.	COM	82988R104	8,017	1,822,031	SH		SOLE	0	1,822,031	0	0
SVB FINANCIAL GROUP	COM	78486Q101	11,328	102,481	SH		SOLE	0	102,481	0	0
SPECTRUM PHARMA. INC. SDCV 2.75% DUE 12/15/18	CONV BONDS	84763AAB4	1,785	2,003,000	PRN		SOLE	0	2,003,000	0	0
STAMPS.COM INC.	COM	852857200	3,972	42,025	SH		SOLE	0	42,025	0	0
SUPERNUS PHARMACEUTICALS INC.	COM	868459108	15,891	642,594	SH		SOLE	0	642,594	0	0
SYSCO CORPORATION	COM	871829107	611	12,460	SH		SOLE	0	12,460	0	0
AT&T	COM	00206R102	356	8,770	SH		SOLE	0	8,770	0	0
TASER INT`L INC.	COM	87651B104	5,997	209,596	SH		SOLE	0	209,596	0	0
TEVA PHARMACEUTICAL ADR	COM	881624209	409	8,900	SH		SOLE	0	8,900	0	0
TESSERA TECHNOLOGIES, INC	COM	88164L100	1,113	28,950	SH		SOLE	0	28,950	0	0
TYLER TECHNOLOGIES, INC	COM	902252105	9,019	52,670	SH		SOLE	0	52,670	0	0
UDR INC.	COM	902653104	567	15,744	SH		SOLE	0	15,744	0	0
AMERCO HOLDING COMPANY	COM	023586100	3,968	12,237	SH		SOLE	0	12,237	0	0
ULTA SALON COSMETICS AND FRAGRANCE, INC.	COM	90384S303	207	868	SH		SOLE	0	868	0	0
UNION PACIFIC CORP	COM	907818108	4,078	41,810	SH		SOLE	0	41,810	0	0
VICOR CORP	COM	925815102	19,650	1,693,950	SH		SOLE	0	1,693,950	0	0
VIASAT INC.	COM	92552V100	14,041	188,086	SH		SOLE	0	188,086	0	0
VANGUARD TOTAL STOCK MARKET ETF	COM	922908769	8,754	78,629	SH		SOLE	0	78,629	0	0
IPATH S&P 500 VIX SHORT TERM FUTURES ETN	COM	06740C261	561	16,470	SH		SOLE	0	16,470	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	362	6,970	SH		SOLE	0	6,970	0	0
WISCONSIN ENERGY CORP	COM	976657106	438	7,313	SH		SOLE	0	7,313	0	0
WESTERN UNION	COM	959802109	292	14,035	SH		SOLE	0	14,035	0	0
EXXON MOBIL CORP	COM	30231G102	3,486	39,935	SH		SOLE	0	39,935	0	0
POWERSHARES S&P SMALL CAP LOW VOLATILITY PORTFOLIO	COM	73937B639	2,254	58,255	SH		SOLE	0	58,255	0	0