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
APPLE, INC.	COM	037833100	617	1,692	SH		SOLE	0	1,692	0	0
AXON ENTERPRISE, INC.	COM	05464C101	26,189	266,882	SH		SOLE	0	266,882	0	0
ADOBE SYSTEMS	COM	00724F101	4,136	9,502	SH		SOLE	0	9,502	0	0
WISDOMTREE BARCLAYS YIELD ENHANCED U.S. AGGREGATE	COM	97717X511	25,404	472,016	SH		SOLE	0	472,016	0	0
ARGAN INC.	COM	04010E109	35,058	739,940	SH		SOLE	0	739,940	0	0
AMAZON	COM	023135106	2,328	844	SH		SOLE	0	844	0	0
APPIAN CORP	COM	03782L101	9,495	185,260	SH		SOLE	0	185,260	0	0
ALTERYX INC CL A	COM	02156B103	314	1,914	SH		SOLE	0	1,914	0	0
BALCHEM CORP	COM	057665200	711	7,500	SH		SOLE	0	7,500	0	0
BIOGEN IDEC, INC.	COM	09062X103	268	1,000	SH		SOLE	0	1,000	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	291	4,950	SH		SOLE	0	4,950	0	0
BERKSHIRE HATHAWAY A	COM	084670108	5,881	22	SH		SOLE	0	22	0	0
BERKSHIRE HATHAWAY B	COM	084670702	1,242	6,959	SH		SOLE	0	6,959	0	0
BROWN & BROWN INC	COM	115236101	571	14,000	SH		SOLE	0	14,000	0	0
BLACKSTONE GROUP	COM	09260D107	499	8,800	SH		SOLE	0	8,800	0	0
CHEGG INC.	COM	163092109	40,563	603,074	SH		SOLE	0	603,074	0	0
COPART INC	COM	217204106	17,662	212,104	SH		SOLE	0	212,104	0	0
COSTAR GROUP INC	COM	22160N109	21,680	30,507	SH		SOLE	0	30,507	0	0
CAVCO INDUSTRIES, INC.	COM	149568107	6,289	32,612	SH		SOLE	0	32,612	0	0
CHEVRON CORPORATION	COM	166764100	238	2,670	SH		SOLE	0	2,670	0	0
DATADOG, INC.	COM	23804L103	605	6,954	SH		SOLE	0	6,954	0	0
DANAHER CORPORATION	COM	235851102	1,107	6,259	SH		SOLE	0	6,259	0	0
EBIX INC.	COM	278715206	4,426	197,955	SH		SOLE	0	197,955	0	0
ISHARES EDGE MSCI MIN VOL EAFE ETF	COM	46429B689	2,852	43,171	SH		SOLE	0	43,171	0	0
ENVESTNET INC	COM	29404K106	355	4,821	SH		SOLE	0	4,821	0	0
EQUINIX INC	COM	29444U700	6,890	9,811	SH		SOLE	0	9,811	0	0
ENERGY TRANSFER LP	COM	29273V100	1,296	181,980	SH		SOLE	0	181,980	0	0
ISHARES EDGE MSCI MIN VOL EUROPE ETF	COM	46434V720	3,241	133,205	SH		SOLE	0	133,205	0	0
FIVE BELOW, INC.	COM	33829M101	7,428	69,480	SH		SOLE	0	69,480	0	0
FRANCO-NEVADA CORP	COM	351858105	12,342	88,387	SH		SOLE	0	88,387	0	0
FIVERR, INC.	COM	M4R82T106	25,985	352,010	SH		SOLE	0	352,010	0	0
GAMCO GLOBAL GOLD NATURAL RESOURCES AND INCOME TRU	COM	36465A109	1,668	484,961	SH		SOLE	0	484,961	0	0
GREAT LAKES DREDGE & DOCK CO	COM	390607109	15,928	1,720,077	SH		SOLE	0	1,720,077	0	0
GLU MOBILE INC	COM	379890106	13,352	1,440,370	SH		SOLE	0	1,440,370	0	0
CORNING INC	COM	219350105	211	8,136	SH		SOLE	0	8,136	0	0
ALPHABET INC - CL C	COM	38259P706	379	268	SH		SOLE	0	268	0	0
ALPHABET INC. CLASS A	COM	38259P508	652	460	SH		SOLE	0	460	0	0
GLOBAL PAYMENTS INC	COM	37940X102	735	4,334	SH		SOLE	0	4,334	0	0
GOOSEHEAD INSURANCE INC-CL A	COM	38267D109	12,427	165,340	SH		SOLE	0	165,340	0	0
PUREFUNDS ISE CYBER SECURITY ETF	COM	26924G201	3,945	88,689	SH		SOLE	0	88,689	0	0
HEALTHEQUITY, INC.	COM	42226A107	23,486	400,315	SH		SOLE	0	400,315	0	0
ILLUMINA INC	COM	452327109	293	790	SH		SOLE	0	790	0	0
INCYTE CORP	COM	45337C102	25,575	245,984	SH		SOLE	0	245,984	0	0
IHS MARKIT LTD	COM	G47567105	1,178	15,602	SH		SOLE	0	15,602	0	0
INTEL CORPORATION	COM	458140100	263	4,400	SH		SOLE	0	4,400	0	0
ISHARES U.S. AEROSPACE & DEFENCE ETF	COM	464288760	2,699	16,384	SH		SOLE	0	16,384	0	0
JOHNSON & JOHNSON	COM	478160104	309	2,200	SH		SOLE	0	2,200	0	0
KINDER MORGAN HOLDCO LLC	COM	49456B101	2,713	178,860	SH		SOLE	0	178,860	0	0
KINSALE CAPITAL GROUP INC.	COM	49714P108	11,616	74,840	SH		SOLE	0	74,840	0	0
COCA-COLA CO	COM	191216100	868	19,428	SH		SOLE	0	19,428	0	0
LIGAND PHARMACEUTICALS - CL B	COM	53220K504	631	5,640	SH		SOLE	0	5,640	0	0
ELI LILLY & COMPANY	COM	532457108	224	1,366	SH		SOLE	0	1,366	0	0
LIMONEIRA CO.	COM	532746104	8,697	600,225	SH		SOLE	0	600,225	0	0
LIVONGO HEALTH, INC.	COM	539183103	36,909	490,880	SH		SOLE	0	490,880	0	0
MERCADO LIBRE	COM	58733R102	444	450	SH		SOLE	0	450	0	0
MARKETAXESS HOLDINGS INC	COM	57060D108	28,563	57,022	SH		SOLE	0	57,022	0	0
MOLINA HEALTHCARE INC.	COM	60855R100	1,563	8,783	SH		SOLE	0	8,783	0	0
MORNINGSTAR INC	COM	617700109	464	3,293	SH		SOLE	0	3,293	0	0
MERCK & CO	COM	58933Y105	363	4,700	SH		SOLE	0	4,700	0	0
MICROSOFT CORPORATION	COM	594918104	3,004	14,762	SH		SOLE	0	14,762	0	0
MAXIM INTEGRATED	COM	57772K101	242	4,000	SH		SOLE	0	4,000	0	0
NORTONLIFELOCK INC	COM	668771108	1,207	60,853	SH		SOLE	0	60,853	0	0
NV5 GLOBAL, INC.	COM	62945V109	12,740	250,630	SH		SOLE	0	250,630	0	0
OPORTUN FINANCIAL CORP	COM	68376D104	14,149	1,052,735	SH		SOLE	0	1,052,735	0	0
PROOFPOINT INC	COM	743424103	210	1,890	SH		SOLE	0	1,890	0	0
PLURALSIGHT INC	COM	72941B106	14,337	794,320	SH		SOLE	0	794,320	0	0
INVESCO QQQ TRUST SERIES 1	COM	46090E103	6,570	26,533	SH		SOLE	0	26,533	0	0
QUANTERIX CORP	COM	74766Q101	12,804	467,453	SH		SOLE	0	467,453	0	0
Q2 HOLDINGS, INC.	COM	74736L109	16,746	195,200	SH		SOLE	0	195,200	0	0
BROOKFIELD REAL ASSETS INCOME FUND INC	COM	112830104	3,124	187,514	SH		SOLE	0	187,514	0	0
REGENERON PHARMACEUTICALS INC	COM	75886F107	1,599	2,564	SH		SOLE	0	2,564	0	0
ROPER TECHNOLOGIES, INC	COM	776696106	3,038	7,824	SH		SOLE	0	7,824	0	0
THE RUBICON PROJECT, INC.	COM	78112V102	12,272	1,839,900	SH		SOLE	0	1,839,900	0	0
SINCLAIR BROADCAST GROUP -A	COM	829226109	978	53,000	SH		SOLE	0	53,000	0	0
SHOPIFY, INC. - CLASS A	COM	82509L107	20,825	21,940	SH		SOLE	0	21,940	0	0
SVB FINANCIAL GROUP	COM	78486Q101	1,174	5,447	SH		SOLE	0	5,447	0	0
SMARTSHEET INC - CL A	COM	83200N103	4,840	95,050	SH		SOLE	0	95,050	0	0
INVESCO S&P 500 LOW VOLATILITY ETF	COM	46138E354	5,138	103,430	SH		SOLE	0	103,430	0	0
SUPERNUS PHARMACEUTICALS INC.	COM	868459108	16,309	686,705	SH		SOLE	0	686,705	0	0
AT&T	COM	00206R102	269	8,890	SH		SOLE	0	8,890	0	0
BIO-TECHNE CORP	COM	09073M104	218	825	SH		SOLE	0	825	0	0
TERADYNE INC.	COM	880770102	928	10,981	SH		SOLE	0	10,981	0	0
T ROWE PRICE GROUP INC.	COM	74144T108	242	1,959	SH		SOLE	0	1,959	0	0
THE TRADE DESK - CL A	COM	88339J105	27,764	68,299	SH		SOLE	0	68,299	0	0
TWILIO INC. - CLASS A	COM	90138F102	27,313	124,477	SH		SOLE	0	124,477	0	0
TYLER TECHNOLOGIES, INC	COM	902252105	15,852	45,698	SH		SOLE	0	45,698	0	0
UDR INC.	COM	902653104	324	8,666	SH		SOLE	0	8,666	0	0
UNITED HEALTH GROUP	COM	91324P102	1,980	6,714	SH		SOLE	0	6,714	0	0
UNION PACIFIC CORP	COM	907818108	7,069	41,810	SH		SOLE	0	41,810	0	0
UPLAND SOFTWARE INC.	COM	91544A109	16,352	470,420	SH		SOLE	0	470,420	0	0
VICOR CORP	COM	925815102	39,031	542,480	SH		SOLE	0	542,480	0	0
VERTEX PHARMACEUTICALS INC.	COM	92532F100	1,699	5,851	SH		SOLE	0	5,851	0	0
VIASAT INC.	COM	92552V100	9,033	235,409	SH		SOLE	0	235,409	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	326	5,913	SH		SOLE	0	5,913	0	0
WOODWARD INC	COM	980745103	516	6,648	SH		SOLE	0	6,648	0	0
CONSUMER STAPLES SELECT SECTOR SPDR FUND	COM	81369Y308	5,370	91,574	SH		SOLE	0	91,574	0	0
EXXON MOBIL CORP	COM	30231G102	1,335	29,853	SH		SOLE	0	29,853	0	0
INVESCO S&P SMALL CAP LOW VOLATILITY ETF	COM	46138G102	3,200	94,500	SH		SOLE	0	94,500	0	0