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
AXON ENTERPRISE, INC.	COM	05464C101	4,993	220,233	SH		SOLE	0	220,233	0	0
ADOBE SYSTEMS	COM	00724F101	1,252	8,392	SH		SOLE	0	8,392	0	0
ISHARES CORE U.S. AGGREGATE BOND FUND	COM	464287226	1,938	17,685	SH		SOLE	0	17,685	0	0
ARGAN INC.	COM	04010E109	11,020	163,869	SH		SOLE	0	163,869	0	0
ALIGN TECHNOLOGY INC.	COM	016255101	1,301	6,984	SH		SOLE	0	6,984	0	0
AMERICAN SOFTWARE INC.	COM	029683109	284	25,000	SH		SOLE	0	25,000	0	0
AMAZON	COM	023135106	1,457	1,516	SH		SOLE	0	1,516	0	0
ANADARKO PETROLEUM CORPORATION	COM	032511107	248	5,083	SH		SOLE	0	5,083	0	0
ALIBABA GROUP HOLDING - SP ADR	COM	01609W102	259	1,500	SH		SOLE	0	1,500	0	0
NATUS MEDICAL INC.	COM	639050103	472	12,592	SH		SOLE	0	12,592	0	0
BALCHEM CORP	COM	057665200	1,273	15,658	SH		SOLE	0	15,658	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	420	6,596	SH		SOLE	0	6,596	0	0
BERKSHIRE HATHAWAY A	COM	084670108	6,044	22	SH		SOLE	0	22	0	0
BERKSHIRE HATHAWAY B	COM	084670207	1,331	7,262	SH		SOLE	0	7,262	0	0
BLACKROCK CREDIT ALLOCATION INCOME TRUST FUND	COM	092508100	2,244	165,370	SH		SOLE	0	165,370	0	0
META FINANCIAL GROUP INC	COM	59100U108	23,137	295,115	SH		SOLE	0	295,115	0	0
CELGENE CORPORATION	COM	151020104	841	5,767	SH		SOLE	0	5,767	0	0
CARLYLE GROUP	COM	14309L102	484	20,500	SH		SOLE	0	20,500	0	0
CHEGG INC.	COM	163092109	34,125	2,299,542	SH		SOLE	0	2,299,542	0	0
CORE LABORATORIES NV	COM	N22717107	1,791	18,150	SH		SOLE	0	18,150	0	0
CANTEL MEDICAL CORP	COM	138098108	419	4,450	SH		SOLE	0	4,450	0	0
COPART INC	COM	217204106	15,941	463,802	SH		SOLE	0	463,802	0	0
ISHARES CORE US CREDIT BOND	COM	464288620	6,296	56,095	SH		SOLE	0	56,095	0	0
COSTAR GROUP INC	COM	22160N109	9,268	34,551	SH		SOLE	0	34,551	0	0
CAVCO INDUSTRIES, INC.	COM	149568107	15,574	105,554	SH		SOLE	0	105,554	0	0
COMMVAULT SYSTEMS, INC.	COM	204166102	8,306	136,609	SH		SOLE	0	136,609	0	0
CHEVRON CORPORATION	COM	166764100	353	3,000	SH		SOLE	0	3,000	0	0
DANAHER CORPORATION	COM	235851102	416	4,852	SH		SOLE	0	4,852	0	0
DAILY JOURNAL CORP	COM	233912104	3,252	14,876	SH		SOLE	0	14,876	0	0
DOWDUPONT, INC.	COM	26078J100	498	7,200	SH		SOLE	0	7,200	0	0
EBIX INC.	COM	278715206	32,538	498,671	SH		SOLE	0	498,671	0	0
ISHARES MSCI EMERGING MARKETS MINIMUM VOLATILITY E	COM	464286533	1,802	31,017	SH		SOLE	0	31,017	0	0
ISHARES MSCI EAFE INDEX FUND	COM	464287465	7,493	109,421	SH		SOLE	0	109,421	0	0
ISHARES TR MSCI EAFE GROWTH INDEX FD	COM	464288885	1,463	18,907	SH		SOLE	0	18,907	0	0
ISHARES MSCI EAFE VALUE ETF	COM	464288877	258	4,720	SH		SOLE	0	4,720	0	0
ENVESTNET INC	COM	29404K106	12,314	241,458	SH		SOLE	0	241,458	0	0
EQUINIX INC	COM	29444U700	2,399	5,375	SH		SOLE	0	5,375	0	0
EXPEDITORS INTL	COM	302130109	581	9,700	SH		SOLE	0	9,700	0	0
FACEBOOK INC - A	COM	30303M102	1,475	8,630	SH		SOLE	0	8,630	0	0
SPDR EURO STOXX 50 FUND	COM	78463X202	2,982	72,292	SH		SOLE	0	72,292	0	0
FINANCIAL ENGINES, INC	COM	317485100	8,261	237,736	SH		SOLE	0	237,736	0	0
FRANCO-NEVADA CORP	COM	351858105	8,518	109,940	SH		SOLE	0	109,940	0	0
GUGGENHEIM TAXABLE MUNICIPAL MANAGED DURATION TRUS	COM	401664107	1,287	56,449	SH		SOLE	0	56,449	0	0
GABELLI MULTIMEDIA TRUST INC.	COM	36239Q109	2,550	287,331	SH		SOLE	0	287,331	0	0
GENERAL MILLS INC	COM	370334104	247	4,774	SH		SOLE	0	4,774	0	0
CORNING INC	COM	219350105	269	8,989	SH		SOLE	0	8,989	0	0
ALPHABET INC - CL C	COM	38259P706	997	1,040	SH		SOLE	0	1,040	0	0
ALPHABET INC. CLASS A	COM	38259P508	448	460	SH		SOLE	0	460	0	0
PUREFUNDS ISE CYBER SECURITY ETF	COM	26924G201	2,337	77,643	SH		SOLE	0	77,643	0	0
HEALTHCARE SERVICES GROUP	COM	421906108	1,585	29,369	SH		SOLE	0	29,369	0	0
ILLUMINA INC	COM	452327109	319	1,600	SH		SOLE	0	1,600	0	0
INCYTE CORP	COM	45337C102	11,792	101,008	SH		SOLE	0	101,008	0	0
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUN	COM	11273Q109	4,136	306,126	SH		SOLE	0	306,126	0	0
IHS MARKIT LTD	COM	G47567105	8,918	202,323	SH		SOLE	0	202,323	0	0
IROBOT CORPORATION	COM	462726100	306	3,970	SH		SOLE	0	3,970	0	0
ISHARES U.S. AEROSPACE & DEFENCE ETF	COM	464288760	3,630	20,387	SH		SOLE	0	20,387	0	0
JOHNSON & JOHNSON	COM	478160104	423	3,250	SH		SOLE	0	3,250	0	0
KINDER MORGAN HOLDCO LLC	COM	49456B101	412	21,500	SH		SOLE	0	21,500	0	0
COCA-COLA CO	COM	191216100	996	22,126	SH		SOLE	0	22,126	0	0
LITTELFUSE INC	COM	537008104	14,023	71,590	SH		SOLE	0	71,590	0	0
LIGAND PHARMACEUTICALS - CL B	COM	53220K504	18,045	132,537	SH		SOLE	0	132,537	0	0
ELI LILLY & COMPANY	COM	532457108	214	2,505	SH		SOLE	0	2,505	0	0
LOGMEIN, INC	COM	54142L109	23,006	209,054	SH		SOLE	0	209,054	0	0
REMARK HOLDINGS, INC.	COM	75955K102	6,734	1,786,316	SH		SOLE	0	1,786,316	0	0
MEDICINES COMPANY	COM	584688105	10,083	272,210	SH		SOLE	0	272,210	0	0
MONDELEZ INTERNATIONAL INC.	COM	609207105	467	11,490	SH		SOLE	0	11,490	0	0
MEDIDATA SOLUTIONS INC	COM	58471A105	13,733	175,935	SH		SOLE	0	175,935	0	0
MERCADO LIBRE	COM	58733R102	500	1,930	SH		SOLE	0	1,930	0	0
MARKETAXESS HOLDINGS INC	COM	57060D108	14,433	78,226	SH		SOLE	0	78,226	0	0
3M CO	COM	88579Y101	436	2,077	SH		SOLE	0	2,077	0	0
ALTRIA GROUP INC	COM	02209S103	553	8,718	SH		SOLE	0	8,718	0	0
MOTORCAR PARTS OF AMERICA, INC.	COM	620071100	8,773	297,800	SH		SOLE	0	297,800	0	0
MERCK & CO	COM	58933Y105	314	4,900	SH		SOLE	0	4,900	0	0
MICROSOFT CORPORATION	COM	594918104	1,478	19,837	SH		SOLE	0	19,837	0	0
MANAGED DURATION INV GRADE	COM	56165R103	1,637	118,688	SH		SOLE	0	118,688	0	0
NEW RELIC, INC.	COM	64829B100	11,949	239,938	SH		SOLE	0	239,938	0	0
NORFOLK SOUTHERN CORP	COM	655844108	909	6,876	SH		SOLE	0	6,876	0	0
NUTRISYSTEM, INC.	COM	67069D108	280	5,000	SH		SOLE	0	5,000	0	0
NV5 GLOBAL, INC.	COM	62945V109	9,823	179,750	SH		SOLE	0	179,750	0	0
PEPSICO INC	COM	713448108	723	6,491	SH		SOLE	0	6,491	0	0
PROCTOR & GAMBLE COMPANY	COM	742718109	226	2,482	SH		SOLE	0	2,482	0	0
PPG INDUSTRIES INC	COM	693506107	621	5,713	SH		SOLE	0	5,713	0	0
POWERSHARES QQQ NASDAQ 100	COM	73935A104	5,126	35,239	SH		SOLE	0	35,239	0	0
BROOKFIELD REAL ASSETS INCOME FUND INC	COM	112830104	1,270	53,363	SH		SOLE	0	53,363	0	0
ROGERS CORP	COM	775133101	4,389	32,934	SH		SOLE	0	32,934	0	0
ROPER TECHNOLOGIES, INC	COM	776696106	1,863	7,656	SH		SOLE	0	7,656	0	0
SHOPIFY, INC. - CLASS A	COM	82509L107	13,025	111,810	SH		SOLE	0	111,810	0	0
SVB FINANCIAL GROUP	COM	78486Q101	19,408	103,734	SH		SOLE	0	103,734	0	0
STATE NATIONAL COMPANIES, INC.	COM	85711T305	9,471	451,217	SH		SOLE	0	451,217	0	0
SPECTRUM PHARMA. INC. SDCV 2.75 DUE 12/15/18	CONV BONDS	84763AAB4	2,838	2,003,000	PRN		SOLE	0	2,003,000	0	0
STAMPS.COM INC.	COM	852857200	12,505	61,705	SH		SOLE	0	61,705	0	0
SUPERNUS PHARMACEUTICALS INC.	COM	868459108	30,172	754,304	SH		SOLE	0	754,304	0	0
SYSCO CORPORATION	COM	871829107	536	9,940	SH		SOLE	0	9,940	0	0
AT&T	COM	00206R102	344	8,770	SH		SOLE	0	8,770	0	0
T ROWE PRICE GROUP INC.	COM	74144T108	233	2,570	SH		SOLE	0	2,570	0	0
THE TRADE DESK - CL A	COM	88339J105	18,622	302,740	SH		SOLE	0	302,740	0	0
TYLER TECHNOLOGIES, INC	COM	902252105	9,131	52,383	SH		SOLE	0	52,383	0	0
UDR INC.	COM	902653104	599	15,744	SH		SOLE	0	15,744	0	0
ULTA SALON COSMETICS AND FRAGRANCE, INC.	COM	90384S303	240	1,061	SH		SOLE	0	1,061	0	0
UNION PACIFIC CORP	COM	907818108	4,849	41,810	SH		SOLE	0	41,810	0	0
VICOR CORP	COM	925815102	42,425	1,797,660	SH		SOLE	0	1,797,660	0	0
VIASAT INC.	COM	92552V100	17,752	276,002	SH		SOLE	0	276,002	0	0
VANGUARD TOTAL STOCK MARKET ETF	COM	922908769	3,630	28,028	SH		SOLE	0	28,028	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	342	6,920	SH		SOLE	0	6,920	0	0
WISCONSIN ENERGY CORP	COM	976657106	459	7,313	SH		SOLE	0	7,313	0	0
EXXON MOBIL CORP	COM	30231G102	3,168	38,647	SH		SOLE	0	38,647	0	0
POWERSHARES S&P SMALL CAP LOW VOLATILITY PORTFOLIO	COM	73937B639	3,108	67,656	SH		SOLE	0	67,656	0	0
YATRA ONLINE INC	COM	G98338109	773	71,410	SH		SOLE	0	71,410	0	0