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	14,575	549,993	SH		SOLE	0	549,993	0	0
ADOBE SYSTEMS	COM	00724F101	1,471	8,392	SH		SOLE	0	8,392	0	0
ISHARES CORE U.S. AGGREGATE BOND FUND	COM	464287226	914	8,356	SH		SOLE	0	8,356	0	0
ARGAN INC.	COM	04010E109	15,055	334,563	SH		SOLE	0	334,563	0	0
ALIGN TECHNOLOGY INC.	COM	016255101	1,238	5,572	SH		SOLE	0	5,572	0	0
AMERICAN SOFTWARE INC.	COM	029683109	442	38,000	SH		SOLE	0	38,000	0	0
AMAZON	COM	023135106	1,774	1,517	SH		SOLE	0	1,517	0	0
ANADARKO PETROLEUM CORPORATION	COM	032511107	273	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
BALCHEM CORP	COM	057665200	1,262	15,658	SH		SOLE	0	15,658	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	404	6,596	SH		SOLE	0	6,596	0	0
BERKSHIRE HATHAWAY A	COM	084670108	6,547	22	SH		SOLE	0	22	0	0
BERKSHIRE HATHAWAY B	COM	084670702	1,439	7,262	SH		SOLE	0	7,262	0	0
BLACKROCK CREDIT ALLOCATION INCOME TRUST FUND	COM	092508100	1,782	133,755	SH		SOLE	0	133,755	0	0
META FINANCIAL GROUP INC	COM	59100U108	31,651	341,617	SH		SOLE	0	341,617	0	0
CELGENE CORPORATION	COM	151020104	579	5,548	SH		SOLE	0	5,548	0	0
CARLYLE GROUP	COM	14309L102	474	20,700	SH		SOLE	0	20,700	0	0
CHEGG INC.	COM	163092109	38,263	2,344,564	SH		SOLE	0	2,344,564	0	0
CORE LABORATORIES NV	COM	N22717107	4,048	36,950	SH		SOLE	0	36,950	0	0
CANTEL MEDICAL CORP	COM	138098108	458	4,450	SH		SOLE	0	4,450	0	0
COPART INC	COM	217204106	20,123	465,912	SH		SOLE	0	465,912	0	0
ISHARES CORE US CREDIT BOND	COM	464288620	6,958	62,105	SH		SOLE	0	62,105	0	0
COSTAR GROUP INC	COM	22160N109	10,589	35,660	SH		SOLE	0	35,660	0	0
CAVCO INDUSTRIES, INC.	COM	149568107	16,016	104,954	SH		SOLE	0	104,954	0	0
COMMVAULT SYSTEMS, INC.	COM	204166102	12,852	244,807	SH		SOLE	0	244,807	0	0
CHEVRON CORPORATION	COM	166764100	363	2,900	SH		SOLE	0	2,900	0	0
DANAHER CORPORATION	COM	235851102	450	4,852	SH		SOLE	0	4,852	0	0
DAILY JOURNAL CORP	COM	233912104	3,379	14,676	SH		SOLE	0	14,676	0	0
DOWDUPONT, INC.	COM	26078J100	513	7,200	SH		SOLE	0	7,200	0	0
EBIX INC.	COM	278715206	39,484	498,225	SH		SOLE	0	498,225	0	0
ISHARES MSCI EMERGING MARKETS MINIMUM VOLATILITY E	COM	464286533	1,894	31,170	SH		SOLE	0	31,170	0	0
ISHARES MSCI EAFE INDEX FUND	COM	464287465	7,726	109,884	SH		SOLE	0	109,884	0	0
ISHARES TR MSCI EAFE GROWTH INDEX FD	COM	464288885	1,527	18,907	SH		SOLE	0	18,907	0	0
ENVESTNET INC	COM	29404K106	15,969	320,340	SH		SOLE	0	320,340	0	0
EQUINIX INC	COM	29444U700	2,436	5,375	SH		SOLE	0	5,375	0	0
EXPEDITORS INTL	COM	302130109	627	9,700	SH		SOLE	0	9,700	0	0
FACEBOOK INC - A	COM	30303M102	1,494	8,464	SH		SOLE	0	8,464	0	0
SPDR EURO STOXX 50 FUND	COM	78463X202	3,137	77,069	SH		SOLE	0	77,069	0	0
FRANCO-NEVADA CORP	COM	351858105	8,854	110,740	SH		SOLE	0	110,740	0	0
GABELLI MULTIMEDIA TRUST INC	COM	36239Q109	2,176	261,786	SH		SOLE	0	261,786	0	0
GENERAL MILLS INC	COM	370334104	283	4,774	SH		SOLE	0	4,774	0	0
CORNING INC	COM	219350105	288	8,989	SH		SOLE	0	8,989	0	0
ALPHABET INC - CL C	COM	38259P706	1,088	1,040	SH		SOLE	0	1,040	0	0
ALPHABET INC. CLASS A	COM	38259P508	485	460	SH		SOLE	0	460	0	0
PUREFUNDS ISE CYBER SECURITY ETF	COM	26924G201	2,341	73,976	SH		SOLE	0	73,976	0	0
HEALTHCARE SERVICES GROUP	COM	421906108	1,548	29,369	SH		SOLE	0	29,369	0	0
HEALTH INSURANCE INNOVATIONS INC - CL A	COM	42225K106	2,430	97,384	SH		SOLE	0	97,384	0	0
ILLUMINA INC	COM	452327109	328	1,500	SH		SOLE	0	1,500	0	0
INCYTE CORP	COM	45337C102	9,406	99,318	SH		SOLE	0	99,318	0	0
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUN	COM	11273Q109	3,789	293,024	SH		SOLE	0	293,024	0	0
ISHARES U.S. AEROSPACE & DEFENCE ETF	COM	464288760	3,884	20,650	SH		SOLE	0	20,650	0	0
ISHARES US TELECOMMUNICATIONS ETF	COM	464287713	807	27,448	SH		SOLE	0	27,448	0	0
JOHNSON & JOHNSON	COM	478160104	454	3,250	SH		SOLE	0	3,250	0	0
KINDER MORGAN HOLDCO LLC	COM	49456B101	365	20,200	SH		SOLE	0	20,200	0	0
COCA-COLA CO	COM	191216100	1,015	22,126	SH		SOLE	0	22,126	0	0
LITTELFUSE INC	COM	537008104	14,261	72,090	SH		SOLE	0	72,090	0	0
LIGAND PHARMACEUTICALS - CL B	COM	53220K504	17,525	127,987	SH		SOLE	0	127,987	0	0
ELI LILLY & COMPANY	COM	532457108	212	2,505	SH		SOLE	0	2,505	0	0
LOGMEIN, INC	COM	54142L109	23,822	208,056	SH		SOLE	0	208,056	0	0
REMARK HOLDINGS, INC.	COM	75955K102	13,088	1,345,101	SH		SOLE	0	1,345,101	0	0
MONDELEZ INTERNATIONAL INC.	COM	609207105	492	11,490	SH		SOLE	0	11,490	0	0
MEDIDATA SOLUTIONS INC	COM	58471A105	11,337	178,895	SH		SOLE	0	178,895	0	0
MERCADO LIBRE	COM	58733R102	607	1,930	SH		SOLE	0	1,930	0	0
MARKETAXESS HOLDINGS INC	COM	57060D108	15,459	76,626	SH		SOLE	0	76,626	0	0
3M CO	COM	88579Y101	443	1,883	SH		SOLE	0	1,883	0	0
ALTRIA GROUP INC	COM	02209S103	623	8,718	SH		SOLE	0	8,718	0	0
MOTORCAR PARTS OF AMERICA, INC.	COM	620071100	4,563	182,600	SH		SOLE	0	182,600	0	0
MERCK & CO	COM	58933Y105	214	3,800	SH		SOLE	0	3,800	0	0
MICROSOFT CORPORATION	COM	594918104	1,689	19,740	SH		SOLE	0	19,740	0	0
NEW RELIC, INC.	COM	64829B100	12,158	210,463	SH		SOLE	0	210,463	0	0
NORFOLK SOUTHERN CORP	COM	655844108	996	6,876	SH		SOLE	0	6,876	0	0
NV5 GLOBAL, INC.	COM	62945V109	9,804	181,050	SH		SOLE	0	181,050	0	0
PEPSICO INC	COM	713448108	778	6,491	SH		SOLE	0	6,491	0	0
PROCTOR & GAMBLE COMPANY	COM	742718109	228	2,482	SH		SOLE	0	2,482	0	0
PPG INDUSTRIES INC	COM	693506107	667	5,713	SH		SOLE	0	5,713	0	0
POWERSHARES QQQ NASDAQ 100	COM	73935A104	5,484	35,208	SH		SOLE	0	35,208	0	0
BROOKFIELD REAL ASSETS INCOME FUND INC	COM	112830104	2,231	95,459	SH		SOLE	0	95,459	0	0
ROGERS CORP	COM	775133101	5,721	35,334	SH		SOLE	0	35,334	0	0
ROPER TECHNOLOGIES, INC	COM	776696106	1,983	7,656	SH		SOLE	0	7,656	0	0
SHOPIFY, INC. - CLASS A	COM	82509L107	9,753	96,564	SH		SOLE	0	96,564	0	0
SVB FINANCIAL GROUP	COM	78486Q101	24,376	104,274	SH		SOLE	0	104,274	0	0
SPECTRUM PHARMACEUTICALS INC.	COM	84763A108	6,872	362,615	SH		SOLE	0	362,615	0	0
SPECTRUM PHARMA. INC. SDCV 2.75 DUE 12/15/18	CONV BONDS	84763AAB4	2,776	1,503,000	PRN		SOLE	0	1,503,000	0	0
STAMPS.COM INC.	COM	852857200	13,979	74,355	SH		SOLE	0	74,355	0	0
SUPERNUS PHARMACEUTICALS INC.	COM	868459108	30,111	755,612	SH		SOLE	0	755,612	0	0
SYSCO CORPORATION	COM	871829107	604	9,940	SH		SOLE	0	9,940	0	0
AT&T	COM	00206R102	341	8,770	SH		SOLE	0	8,770	0	0
TENCENT HOLDINGS LTD ADR	COM	88032Q109	286	5,500	SH		SOLE	0	5,500	0	0
T ROWE PRICE GROUP INC.	COM	74144T108	270	2,570	SH		SOLE	0	2,570	0	0
THE TRADE DESK - CL A	COM	88339J105	18,582	406,346	SH		SOLE	0	406,346	0	0
TYLER TECHNOLOGIES, INC	COM	902252105	9,328	52,683	SH		SOLE	0	52,683	0	0
UDR INC.	COM	902653104	606	15,744	SH		SOLE	0	15,744	0	0
ULTA SALON COSMETICS AND FRAGRANCE, INC.	COM	90384S303	215	961	SH		SOLE	0	961	0	0
UNION PACIFIC CORP	COM	907818108	5,607	41,810	SH		SOLE	0	41,810	0	0
VICOR CORP	COM	925815102	35,614	1,704,027	SH		SOLE	0	1,704,027	0	0
VIASAT INC.	COM	92552V100	19,948	266,502	SH		SOLE	0	266,502	0	0
VANGUARD TOTAL STOCK MARKET ETF	COM	922908769	3,803	27,705	SH		SOLE	0	27,705	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	366	6,920	SH		SOLE	0	6,920	0	0
WISCONSIN ENERGY CORP	COM	976657106	486	7,313	SH		SOLE	0	7,313	0	0
EXXON MOBIL CORP	COM	30231G102	3,201	38,267	SH		SOLE	0	38,267	0	0
POWERSHARES S&P SMALL CAP LOW VOLATILITY PORTFOLIO	COM	73937B639	3,047	65,891	SH		SOLE	0	65,891	0	0