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	27,430	400,853	SH		SOLE	0	400,853	0	0
ADOBE SYSTEMS	COM	00724F101	1,933	7,162	SH		SOLE	0	7,162	0	0
WISDOMTREE BARCLAYS YIELD ENHANCED U.S. AGGREGATE	COM	97717X511	14,912	308,347	SH		SOLE	0	308,347	0	0
ARGAN INC.	COM	04010E109	29,405	683,832	SH		SOLE	0	683,832	0	0
ALIGN TECHNOLOGY INC.	COM	016255101	554	1,415	SH		SOLE	0	1,415	0	0
AMERICAN SOFTWARE INC.	COM	029683109	8,711	718,105	SH		SOLE	0	718,105	0	0
AMAZON	COM	023135106	2,157	1,077	SH		SOLE	0	1,077	0	0
ANADARKO PETROLEUM CORPORATION	COM	032511107	343	5,083	SH		SOLE	0	5,083	0	0
ALIBABA GROUP HOLDING - SP ADR	COM	01609W102	247	1,500	SH		SOLE	0	1,500	0	0
BALCHEM CORP	COM	057665200	802	7,158	SH		SOLE	0	7,158	0	0
BLACKROCK ENHANCED EQUITY DIVIDEND TRUST	COM	09251A104	2,788	293,749	SH		SOLE	0	293,749	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	409	6,596	SH		SOLE	0	6,596	0	0
BERKSHIRE HATHAWAY A	COM	084670108	7,040	22	SH		SOLE	0	22	0	0
BERKSHIRE HATHAWAY B	COM	084670702	2,152	10,049	SH		SOLE	0	10,049	0	0
BLACKSTONE GROUP	COM	09253U108	411	10,800	SH		SOLE	0	10,800	0	0
META FINANCIAL GROUP INC	COM	59100U108	26,674	322,734	SH		SOLE	0	322,734	0	0
CARLYLE GROUP	COM	14309L102	456	20,200	SH		SOLE	0	20,200	0	0
CHEGG INC.	COM	163092109	37,587	1,322,074	SH		SOLE	0	1,322,074	0	0
CORE LABORATORIES NV	COM	N22717107	4,153	35,850	SH		SOLE	0	35,850	0	0
CANTEL MEDICAL CORP	COM	138098108	318	3,450	SH		SOLE	0	3,450	0	0
COMPASS DIVERSIFIED HOLDINGS	COM	048988083	363	20,000	SH		SOLE	0	20,000	0	0
COPART INC	COM	217204106	23,327	452,690	SH		SOLE	0	452,690	0	0
COSTAR GROUP INC	COM	22160N109	15,295	36,343	SH		SOLE	0	36,343	0	0
CAVCO INDUSTRIES, INC.	COM	149568107	27,538	108,847	SH		SOLE	0	108,847	0	0
CHEVRON CORPORATION	COM	166764100	355	2,900	SH		SOLE	0	2,900	0	0
DANAHER CORPORATION	COM	235851102	1,202	11,060	SH		SOLE	0	11,060	0	0
DAILY JOURNAL CORP	COM	233912104	2,509	10,411	SH		SOLE	0	10,411	0	0
DOWDUPONT, INC.	COM	26078J100	357	5,547	SH		SOLE	0	5,547	0	0
EASTSIDE DISTILLING	COM	277802302	410	50,000	SH		SOLE	0	50,000	0	0
EBIX INC.	COM	278715206	27,146	342,966	SH		SOLE	0	342,966	0	0
ISHARES MSCI EMERGING MARKETS MINIMUM VOLATILITY E	COM	464286533	639	10,782	SH		SOLE	0	10,782	0	0
ISHARES MSCI EAFE INDEX FUND	COM	464287465	6,538	96,158	SH		SOLE	0	96,158	0	0
ENVESTNET INC	COM	29404K106	19,194	314,906	SH		SOLE	0	314,906	0	0
EQUINIX INC	COM	29444U700	3,614	8,348	SH		SOLE	0	8,348	0	0
ENERGY TRANSFER PARTNERS	COM	29278N103	1,474	66,200	SH		SOLE	0	66,200	0	0
ISHARES EDGE MSCI MIN VOL EUROPE ETF	COM	46434V720	511	20,293	SH		SOLE	0	20,293	0	0
EXPEDITORS INTL	COM	302130109	566	7,700	SH		SOLE	0	7,700	0	0
FACEBOOK INC - A	COM	30303M102	255	1,550	SH		SOLE	0	1,550	0	0
SPDR EURO STOXX 50 FUND	COM	78463X202	2,115	55,277	SH		SOLE	0	55,277	0	0
FRANCO-NEVADA CORP	COM	351858105	7,944	127,000	SH		SOLE	0	127,000	0	0
GENERAL MILLS INC	COM	370334104	205	4,774	SH		SOLE	0	4,774	0	0
CORNING INC	COM	219350105	317	8,989	SH		SOLE	0	8,989	0	0
ALPHABET INC - CL C	COM	38259P706	740	620	SH		SOLE	0	620	0	0
ALPHABET INC. CLASS A	COM	38259P508	555	460	SH		SOLE	0	460	0	0
PUREFUNDS ISE CYBER SECURITY ETF	COM	26924G201	2,874	71,608	SH		SOLE	0	71,608	0	0
HEALTHCARE SERVICES GROUP	COM	421906108	933	22,964	SH		SOLE	0	22,964	0	0
HEALTH INSURANCE INNOVATIONS INC - CL A	COM	42225K106	34,597	561,188	SH		SOLE	0	561,188	0	0
HANGER INC	COM	41043F208	1,042	50,000	SH		SOLE	0	50,000	0	0
HEALTHEQUITY, INC.	COM	42226A107	13,481	142,789	SH		SOLE	0	142,789	0	0
ISHARES CORE MSCI INTERNATIONAL DEVELOPED MARKETS	COM	46435G326	594	10,472	SH		SOLE	0	10,472	0	0
ISHARES BARCLAY 7-10 YEAR TREASURY BOND FUND	COM	464287440	6,321	62,480	SH		SOLE	0	62,480	0	0
ISHARES BARCLAYS 3-7 YEAR TREASURY BOND FUND	COM	464288661	2,720	22,843	SH		SOLE	0	22,843	0	0
ILLUMINA INC	COM	452327109	327	890	SH		SOLE	0	890	0	0
INCYTE CORP	COM	45337C102	11,823	171,155	SH		SOLE	0	171,155	0	0
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUN	COM	11273Q109	444	37,000	SH		SOLE	0	37,000	0	0
IHS MARKIT LTD	COM	G47567105	782	14,485	SH		SOLE	0	14,485	0	0
ISHARES U.S. AEROSPACE & DEFENCE ETF	COM	464288760	4,386	20,265	SH		SOLE	0	20,265	0	0
ISHARES US TELECOMMUNICATIONS ETF	COM	464287713	3,204	107,722	SH		SOLE	0	107,722	0	0
JOHNSON & JOHNSON	COM	478160104	449	3,250	SH		SOLE	0	3,250	0	0
KINDER MORGAN HOLDCO LLC	COM	49456B101	1,184	66,783	SH		SOLE	0	66,783	0	0
COCA-COLA CO	COM	191216100	1,022	22,126	SH		SOLE	0	22,126	0	0
LITTELFUSE INC.	COM	537008104	14,323	72,381	SH		SOLE	0	72,381	0	0
LIGAND PHARMACEUTICALS - CL B	COM	53220K504	23,546	85,782	SH		SOLE	0	85,782	0	0
ELI LILLY & COMPANY	COM	532457108	269	2,505	SH		SOLE	0	2,505	0	0
LIMONEIRA CO.	COM	532746104	13,799	528,504	SH		SOLE	0	528,504	0	0
LOGMEIN, INC	COM	54142L109	11,999	134,668	SH		SOLE	0	134,668	0	0
ISHARES IBOXX INV. GRADE CORP. BOND FUND	COM	464287242	912	7,932	SH		SOLE	0	7,932	0	0
REMARK HOLDINGS, INC.	COM	75955K102	6,525	2,045,571	SH		SOLE	0	2,045,571	0	0
MONDELEZ INTERNATIONAL INC.	COM	609207105	494	11,490	SH		SOLE	0	11,490	0	0
MEDIDATA SOLUTIONS INC	COM	58471A105	16,486	224,886	SH		SOLE	0	224,886	0	0
MERCADO LIBRE	COM	58733R102	898	2,638	SH		SOLE	0	2,638	0	0
MARKETAXESS HOLDINGS INC	COM	57060D108	13,991	78,383	SH		SOLE	0	78,383	0	0
3M CO	COM	88579Y101	397	1,883	SH		SOLE	0	1,883	0	0
ALTRIA GROUP INC	COM	02209S103	526	8,718	SH		SOLE	0	8,718	0	0
MORNINGSTAR INC	COM	617700109	698	5,545	SH		SOLE	0	5,545	0	0
MERCK & CO	COM	58933Y105	376	5,300	SH		SOLE	0	5,300	0	0
MICROSOFT CORPORATION	COM	594918104	1,803	15,761	SH		SOLE	0	15,761	0	0
NEW RELIC, INC.	COM	64829B100	10,529	111,735	SH		SOLE	0	111,735	0	0
NORFOLK SOUTHERN CORP	COM	655844108	1,241	6,876	SH		SOLE	0	6,876	0	0
NV5 GLOBAL, INC.	COM	62945V109	13,188	152,105	SH		SOLE	0	152,105	0	0
PEPSICO INC	COM	713448108	726	6,491	SH		SOLE	0	6,491	0	0
PROCTOR & GAMBLE COMPANY	COM	742718109	207	2,482	SH		SOLE	0	2,482	0	0
PPG INDUSTRIES INC	COM	693506107	623	5,713	SH		SOLE	0	5,713	0	0
PLURALSIGHT INC	COM	72941B106	9,875	308,580	SH		SOLE	0	308,580	0	0
INVESCO QQQ TRUST SERIES 1	COM	46090E103	4,339	23,357	SH		SOLE	0	23,357	0	0
BROOKFIELD REAL ASSETS INCOME FUND INC	COM	112830104	4,609	199,860	SH		SOLE	0	199,860	0	0
RED HAT INC	COM	756577102	706	5,180	SH		SOLE	0	5,180	0	0
ROPER TECHNOLOGIES, INC	COM	776696106	2,878	9,715	SH		SOLE	0	9,715	0	0
SHOPIFY, INC. - CLASS A	COM	82509L107	11,507	69,966	SH		SOLE	0	69,966	0	0
SVB FINANCIAL GROUP	COM	78486Q101	27,682	89,057	SH		SOLE	0	89,057	0	0
SPECTRUM PHARMACEUTICALS INC.	COM	84763A108	9,032	537,644	SH		SOLE	0	537,644	0	0
SPECTRUM PHARMA. INC. SDCV 2.75 DUE 12/15/18	CONV BONDS	84763AAB4	2,370	1,467,000	PRN		SOLE	0	1,467,000	0	0
STAMPS.COM INC.	COM	852857200	16,825	74,383	SH		SOLE	0	74,383	0	0
SUPERNUS PHARMACEUTICALS INC.	COM	868459108	35,216	699,432	SH		SOLE	0	699,432	0	0
SYSCO CORPORATION	COM	871829107	728	9,940	SH		SOLE	0	9,940	0	0
AT&T	COM	00206R102	294	8,770	SH		SOLE	0	8,770	0	0
T ROWE PRICE GROUP INC.	COM	74144T108	281	2,570	SH		SOLE	0	2,570	0	0
THE TRADE DESK - CL A	COM	88339J105	38,037	252,048	SH		SOLE	0	252,048	0	0
TECHTARGET, INC	COM	87874R100	21,173	1,090,285	SH		SOLE	0	1,090,285	0	0
TYLER TECHNOLOGIES, INC	COM	902252105	17,279	70,508	SH		SOLE	0	70,508	0	0
UDR INC.	COM	902653104	637	15,744	SH		SOLE	0	15,744	0	0
UNITED INSURANCE HOLDINGS CO	COM	910710102	17,918	800,605	SH		SOLE	0	800,605	0	0
ULTA SALON COSMETICS AND FRAGRANCE, INC.	COM	90384S303	850	3,014	SH		SOLE	0	3,014	0	0
UNITED HEALTH GROUP	COM	91324P102	833	3,130	SH		SOLE	0	3,130	0	0
UNION PACIFIC CORP	COM	907818108	6,808	41,810	SH		SOLE	0	41,810	0	0
VICOR CORP	COM	925815102	27,316	593,830	SH		SOLE	0	593,830	0	0
VERTEX PHARMACEUTICALS INC.	COM	92532F100	806	4,180	SH		SOLE	0	4,180	0	0
VIASAT INC.	COM	92552V100	24,050	376,068	SH		SOLE	0	376,068	0	0
VANGUARD TOTAL STOCK MARKET ETF	COM	922908769	3,629	24,249	SH		SOLE	0	24,249	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	369	6,920	SH		SOLE	0	6,920	0	0
WISCONSIN ENERGY CORP	COM	976657106	488	7,313	SH		SOLE	0	7,313	0	0
WOODWARD INC	COM	980745103	766	9,470	SH		SOLE	0	9,470	0	0
ENERGY SELECT SECTOR SPDR	COM	81369Y506	3,252	42,941	SH		SOLE	0	42,941	0	0
EXXON MOBIL CORP	COM	30231G102	3,231	38,006	SH		SOLE	0	38,006	0	0
INVESCO S&P SMALL CAP LOW VOLATILITY ETF	COM	46138G102	3,217	65,069	SH		SOLE	0	65,069	0	0