13F-HR 1 dec2011-13f.txt Main Page (1) TYPE 13F-HR DOCUMENT-COUNT 1 PERIOD 12/31/11 FILER CIK 0000897070 SUBMISSION-CONTACT NAME VICTORIA HORAN PHONE 302-655-1750 Attached Documents Page (2) FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Ashford Capital Management, Inc. Address: P.O. Box 4172 Wilmington, DE 19807 13F File Number: 28-3420 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Louise Victoria Horan Title: Vice President, Operations Phone: 302-655-1750 Signature, Place, and Date of Signing: ____________________________ _____________________________ __________ [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 142 Form 13F Information Table Value Total: $590097 (thousands) List of Other Included Managers: ABANCO Investments Ltd. SEC file #028-06287 NAME OF ISSUER TITLE OF CLASS CUSIP VALUE(K) SH/P AMT S/P P/C INV DSC MANAGERS SOLE SHARED NONE ABBOTT LABORATORIES COM 002824100 405 7195 SH SOLE 7195 0 0 ADOBE SYSTEMS COM 00724F101 294 10400 SH SOLE 10400 0 0 ANADARKO PETROLEUM CORPORATI N COM 032511107 538 7054 SH SOLE 7054 0 0 AMERICAN PUBLIC EDUCATION IN COM 02913V103 3470 80170 SH SOLE 80170 0 0 ARIBA INC. COM 04033V203 5980 212950 SH SOLE 212950 0 0 BILL BARRETT SDCV 5% DUE 3/1 / CONV BONDS 06846NAA2 791 790000 PRN SOLE 790000 0 0 BALCHEM CORP COM 057665200 10814 266757 SH SOLE 266757 0 0 BLACK DIAMOND INC. COM 09202G101 15745 2107700 SH SOLE 2107700 0 0 BRISTOL-MYERS SQUIBB CO COM 110122108 874 24795 SH SOLE 24795 0 0 BERKSHIRE HATHAWAY A COM 084670108 2525 22 SH SOLE 22 0 0 BERKSHIRE HATHAWAY B COM 084670207 2059 26985 SH SOLE 26985 0 0 BROWN & BROWN INC COM 115236101 211 10800 SH SOLE 10800 0 0 BLACKSTONE GROUP COM 09253U108 206 14700 SH SOLE 14700 0 0 CHINACAST EDUCATION CORP COM 16946T109 22641 3699550 SH SOLE 3699550 0 0 CATERPILLAR INC. COM 149123101 287 3169 SH SOLE 3169 0 0 CEVA, INC. COM 157210105 470 15540 SH SOLE 15540 0 0 CORE LABORATORIES NV COM N22717107 8592 75400 SH SOLE 75400 0 0 CANTEL MEDICAL CORP COM 138098108 754 27000 SH SOLE 27000 0 0 CONCUR TECHNOLOGIES, INC. COM 206708109 10188 200600 SH SOLE 200600 0 0 CONOCO PHILLIPS COM 20825C104 815 11185 SH SOLE 11185 0 0 COPART INC COM 217204106 10468 218575 SH SOLE 218575 0 0 COSTAR GROUP INC COM 22160N109 13630 204260 SH SOLE 204260 0 0 CONSTANT CONTACT INC. COM 210313102 5413 233200 SH SOLE 233200 0 0 CVS/CAREMARK CORPORATION COM 281020107 331 8000 SH SOLE 8000 0 0 CHEVRON CORPORATION COM 166764100 348 3270 SH SOLE 3270 0 0 CYMER INC COM 232572107 6572 132070 SH SOLE 132070 0 0 DU PONT (E.I.) DE NEMOURS COM 263534109 899 19632 SH SOLE 19632 0 0 WISDOM TREE EMERGING MARKETS E COM 97717W315 2978 58084 SH SOLE 58084 0 0 DAILY JOURNAL CORP COM 233912104 1114 17100 SH SOLE 17100 0 0 DORMAN PRODUCTS INC. COM 258278100 5285 143099 SH SOLE 143099 0 0 DUKE ENERGY CORP COM 26441C105 272 12367 SH SOLE 12367 0 0 EBIX INC. COM 278715206 13612 615950 SH SOLE 615950 0 0 EBIX INC. (S-1) COM 278715206 8120 367400 SH SOLE 367400 0 0 BOTTOMLINE TECHNOLOGIES COM 101388106 7533 325100 SH SOLE 325100 0 0 EPIQ SYSTEMS INC COM 26882D109 18789 1563150 SH SOLE 1563150 0 0 EQUINIX INC COM 29444U502 963 9495 SH SOLE 9495 0 0 EXPEDITORS INTL COM 302130109 1810 44200 SH SOLE 44200 0 0 FTI CONSULTING INC COM 302941109 848 20000 SH SOLE 20000 0 0 FEI COMPANY COM 30241L109 9515 233320 SH SOLE 233320 0 0 FORRESTER RESEARCH INC COM 346563109 4726 139244 SH SOLE 139244 0 0 GENERAL ELECTRIC COMPANY COM 369604103 1041 58139 SH SOLE 58139 0 0 GENERAL MILLS INC COM 370334104 1397 34561 SH SOLE 34561 0 0 GREENLIGHT CAPITAL RE LTD COM G4095J109 4194 177200 SH SOLE 177200 0 0 GEN-PROBE INC COM 36866T103 4650 78650 SH SOLE 78650 0 0 GT ADVANCED TECHNOLOGIES, IN COM 36191U106 1200 165800 SH SOLE 165800 0 0 HAEMONETICS CORP. COM 405024100 4142 67660 SH SOLE 67660 0 0 HALLIBURTON CO COM 406216101 208 6026 SH SOLE 6026 0 0 HEALTHCARE SERVICES GROUP COM 421906108 10984 620900 SH SOLE 620900 0 0 HILLENBRAND INC. COM 431571108 8429 377650 SH SOLE 377650 0 0 HEWLETT-PACKARD COMPANY COM 428236103 222 8630 SH SOLE 8630 0 0 HERCULES TECHNOLOGY GROWT COM 427096508 3779 400300 SH SOLE 400300 0 0 HUB GROUP INC - CL A COM 443320106 3395 104700 SH SOLE 104700 0 0 IAC/INTERACTIVE CORPORATION COM 44919P508 12139 284950 SH SOLE 284950 0 0 INTERNATIONAL BUSINESS MACHI E COM 459200101 285 1549 SH SOLE 1549 0 0 IHS INC. COM 451734107 16217 188225 SH SOLE 188225 0 0 KELLOGG CO COM 487836108 974 19254 SH SOLE 19254 0 0 KRAFT FOODS INC - CLASS A COM 50075N104 1048 28039 SH SOLE 28039 0 0 KIMBERLY CLARK CORPORATION COM 494368103 228 3100 SH SOLE 3100 0 0 KINDER MORGAN HOLDCO LLC COM 49456B101 830 25800 SH SOLE 25800 0 0 KINDER MORGAN ENERGY PRTNRS COM 494550106 6082 71600 SH SOLE 71600 0 0 KINDER MORGAN MANAGEMENT COM 49455U100 7735 98511 SH SOLE 98511 0 0 COCA-COLA CO COM 191216100 924 13206 SH SOLE 13206 0 0 LITTELFUSE INC COM 537008104 3597 83700 SH SOLE 83700 0 0 LIGAND PHARMACEUTICALS - CL COM 53220K504 4927 415100 SH SOLE 415100 0 0 LIHUA INTERNATIONAL INC COM 532352101 773 162475 SH SOLE 162475 0 0 LKQ CORP COM 501889208 10408 346000 SH SOLE 346000 0 0 LOGMEIN, INC COM 54142L109 10237 265550 SH SOLE 265550 0 0 GRAND CANYON EDUCATION INC COM 38526M106 4603 288424 SH SOLE 288424 0 0 LIVEPERSON INC COM 538146101 2949 235000 SH SOLE 235000 0 0 LIQUIDITY SERVICES COM 53635B107 26223 710650 SH SOLE 710650 0 0 LIBERTY PROPERTIES COM 531172104 374 12100 SH SOLE 12100 0 0 MCDONALDS CORP. COM 580135101 201 2000 SH SOLE 2000 0 0 MEDIDATA SOLUTIONS INC COM 58471A105 11232 516400 SH SOLE 516400 0 0 MEASUREMENT SPECIALTIES, INC COM 583421102 1631 58320 SH SOLE 58320 0 0 MARKETAXESS HOLDINGS INC COM 57060D108 10299 342060 SH SOLE 342060 0 0 3M CO COM 88579Y101 593 7255 SH SOLE 7255 0 0 ALTRIA GROUP INC COM 02209S103 1182 39867 SH SOLE 39867 0 0 MAXIM INTEGRATED COM 57772K101 940 36100 SH SOLE 36100 0 0 NATIONAL AMERICAN UNIVERSITY H COM 63245Q105 11137 1469318 SH SOLE 1469318 0 0 NATIONAL AMERICAN UNIVERSITY H COM 63245Q105 1586 261666 SH SOLE 261666 0 0 NEW MOUNTAIN FINANCE CORP COM 647551100 4325 322484 SH SOLE 322484 0 0 NORFOLK SOUTHERN CORP COM 655844108 1391 19095 SH SOLE 19095 0 0 NUANCE COMMUNICATIONS INC COM 67020Y100 7442 295800 SH SOLE 295800 0 0 METROPCS COMMUNICATIONS INC. COM 591708102 174 20000 SH SOLE 20000 0 0 PEET`S COFFEE AND TEA INC. COM 705560100 10228 163180 SH SOLE 163180 0 0 PEPSICO INC COM 713448108 2494 37596 SH SOLE 37596 0 0 PFIZER INC COM 717081103 226 10425 SH SOLE 10425 0 0 PHILIP MORRIS INTERNATIONAL COM 718172109 1572 20029 SH SOLE 20029 0 0 PPG INDUSTRIES INC COM 693506107 1006 12055 SH SOLE 12055 0 0 POLYPORE INTERNATIONAL INC COM 73179V103 561 12760 SH SOLE 12760 0 0 RENTRAK CORPORATION COM 760174102 287 20100 SH SOLE 20100 0 0 ROYAL GOLD INC COM 780287108 5025 74525 SH SOLE 74525 0 0 RED HAT INC COM 756577102 475 11500 SH SOLE 11500 0 0 ROPER INDUSTRIES, INC COM 776696106 2339 26920 SH SOLE 26920 0 0 COMSCORE INC COM 20564W105 13068 616400 SH SOLE 616400 0 0 SHUTTERFLY INC. COM 82568P304 970 42600 SH SOLE 42600 0 0 SIGMA-ALDRICH CORPORATION COM 826552101 225 3600 SH SOLE 3600 0 0 SVB FINANCIAL GROUP COM 78486Q101 11059 231893 SH SOLE 231893 0 0 SILVER WHEATON CORP COM 828336107 5818 200900 SH SOLE 200900 0 0 SANTARUS INC. COM 802817304 12330 3725172 SH SOLE 3725172 0 0 SOUTHERN CO COM 842587107 255 5500 SH SOLE 5500 0 0 SPS COMMERCE INC COM 78463M107 366 14100 SH SOLE 14100 0 0 SCIQUEST INC COM 80908T101 644 45100 SH SOLE 45100 0 0 STERICYCLE INC COM 858912108 559 7170 SH SOLE 7170 0 0 STRAYER EDUCATION INC COM 863236105 525 5400 SH SOLE 5400 0 0 SYSCO CORPORATION COM 871829107 1099 37485 SH SOLE 37485 0 0 AT&T COM 00206R102 265 8770 SH SOLE 8770 0 0 TASER INT`L INC. COM 87651B104 1122 219100 SH SOLE 219100 0 0 TRICAN WELL SERVICE LTD COM 895945103 2812 162900 SH SOLE 162900 0 0 TEVA PHARMACEUTICAL ADR COM 881624209 515 12750 SH SOLE 12750 0 0 TENNANT CO COM 880345103 5757 148100 SH SOLE 148100 0 0 TANGOE INC/CT COM 87582Y108 5119 332412 SH SOLE 332412 0 0 TRANSCEND SERVICES INC COM 893929208 6713 282900 SH SOLE 282900 0 0 T ROWE PRICE GROUP INC. COM 74144T108 269 4718 SH SOLE 4718 0 0 CVR PARTNERS LP COM 126633106 621 25000 SH SOLE 25000 0 0 UDR INC. COM 902653104 633 25211 SH SOLE 25211 0 0 ULTA SALON COSMETICS AND FRA R COM 90384S303 1006 15500 SH SOLE 15500 0 0 UNITED HEALTH GROUP COM 91324P102 258 5100 SH SOLE 5100 0 0 UNION PACIFIC CORP COM 907818108 2216 20916 SH SOLE 20916 0 0 VICOR CORP COM 925815102 1336 167900 SH SOLE 167900 0 0 VERISK ANALYTICS INC - CLASS A COM 92345Y106 225 5600 SH SOLE 5600 0 0 VIASAT INC. COM 92552V100 5880 127500 SH SOLE 127500 0 0 VERIZON COMMUNICATIONS INC COM 92343V104 294 7320 SH SOLE 7320 0 0 WISCONSIN ENERGY CORP COM 976657106 1082 30947 SH SOLE 30947 0 0 WESTERN UNION COM 959802109 381 20871 SH SOLE 20871 0 0 WOODWARD INC COM 980745103 2583 63100 SH SOLE 63100 0 0 EXXON MOBIL CORP COM 30231G102 4517 53296 SH SOLE 53296 0 0 IPATH S&P 500 DYNAMIC VIX ETN COM 06741L609 14712 260152 SH SOLE 260152 0 0 ISHARES BARCLAYS AGGREGATE COM 464287226 2703 24520 SH SOLE 24520 0 0 ISHARES DJ SELECT DIVIDEND COM 464287168 7616 141642 SH SOLE 141642 0 0 ISHARES IBOXX H/Y CORP BOND COM 464288513 5563 62207 SH SOLE 62207 0 0 ISHARES IBOXX INV. GRADE CORP COM 464287242 5190 45624 SH SOLE 45624 0 0 ISHARES INTERMEDIATE CREDIT COM 464288638 1751 16334 SH SOLE 16334 0 0 ISHARES MSCI EAFE GROWTH INDEX COM 464288885 2973 57169 SH SOLE 57169 0 0 ISHARES MSCI EAFE VALUE INDEX COM 464288877 4063 95153 SH SOLE 95153 0 0 ISHARES S&P 500 GROWTH INDEX COM 464287309 3197 47406 SH SOLE 47406 0 0 ISHARES S&P 500 VALUE INDEX COM 464287408 3720 64321 SH SOLE 64321 0 0 POWERSHARES DB COMMODITY INDEX COM 73935S105 3101 115524 SH SOLE 115524 0 0 SPDR S&P 500 ETF TRUST COM 78462F103 2673 21299 SH SOLE 21299 0 0 VANGUARD EXTENDED MARKET ETF COM 922908652 3014 58143 SH SOLE 58143 0 0 VANGUARD REIT ETF COM 922908553 4896 84413 SH SOLE 84413 0 0 WISDOM TREE EMERGING MARKETS COM 97717W315 2978 58084 SH SOLE 58084 0 0
/TEXT /DOCUMENT /SUBMISSION