13F-HR 1 jun2003-13f.txt Main Page (1) TYPE 13F-HR DOCUMENT-COUNT 1 PERIOD 6/30/03 FILER CIK 0000897070 CCC $3ffyizp 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: June 30, 2003 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: 2 Form 13F Information Table Entry Total: 124 Form 13F Information Table Value Total: $664,290 (thousands) List of Other Included Managers: Brandywine Managers, LLC SEC file #028-06335 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 AARON RENTS INC COMMON 002535201 5694 220700 SH SOLE 220700 0 0 ACTEL CORP COMMON 004934105 5813 282473 SH SOLE 282473 0 0 ACTIVCARD S A DEPOSITORY RECEI 00505N109 116 12400 SH SOLE 12400 0 0 ACTIVCARD CORP COMMON 00506J107 8114 860400 SH SOLE 860400 0 0 ADOBE SYS INC COMMON 00724F101 673 21000 SH SOLE 21000 0 0 ADOLOR CORP COMMON 00724X102 1751 142699 SH SOLE 142699 0 0 ALLIED CAP CORP NEW COMMON 01903Q108 7005 303236 SH SOLE 303236 0 0 AMBASSADORS GROUP INC COMMON 023177108 12003 859199 SH SOLE 859199 0 0 AMBASSADORS INTL INC COMMON 023178106 13729 1144099 SH SOLE 1144099 0 0 AMERICAN PWR CONVERSION COMMON 029066107 852 54600 SH SOLE 54600 0 0 APPLIED IMAGING CORP COMMON 03820G106 1012 679000 SH SOLE 679000 0 0 ARMOR HOLDINGS INC COMMON 042260109 13116 978800 SH SOLE 978800 0 0 BALCHEM CORP COMMON 057665200 12494 531200 SH SOLE 531200 0 0 BELLSOUTH CORP COMMON 079860102 240 9000 SH SOLE 9000 0 0 BERKSHIRE HATHAWAY INC D CL A 084670108 1958 27 SH SOLE 27 0 0 BERKSHIRE HATHAWAY INC D CL B 084670207 1677 690 SH SOLE 690 0 0 BIO-REFERENCE LABS INC COM $.01 NEW 09057G602 4296 633700 SH SOLE 633700 0 0 BROWN & BROWN INC COMMON 115236101 13002 400050 SH SOLE 400050 0 0 CSG SYS INTL INC COMMON 126349109 19273 1358199 SH SOLE 1358199 0 0 CARDINAL HEALTH INC COMMON 14149Y108 301 4675 SH SOLE 4675 0 0 CASH AMER INTL INC COMMON 14754D100 10454 790800 SH SOLE 790800 0 0 CENTRAL PKG CORP COMMON 154785109 4511 364934 SH SOLE 364934 0 0 CEPHALON INC COMMON 156708109 2493 60741 SH SOLE 60741 0 0 CEPHALON INC NOTE 5.250 7/0 156708AC3 3888 3775000 PRN SOLE 3775000 0 0 CHEVRONTEXACO CORP COMMON 166764100 434 6016 SH SOLE 6016 0 0 CLARUS CORP COMMON 182707109 7006 1115600 SH SOLE 1115600 0 0 COCA COLA CO COMMON 191216100 387 8332 SH SOLE 8332 0 0 COGNIZANT TECHNOLOGY SOL CL A 192446102 2683 110000 SH SOLE 110000 0 0 COLLAGENEX PHARMACEUTICA COMMON 19419B100 8643 651800 SH SOLE 651800 0 0 COLLAGENEX PHARM WT EXC $6.00 03/08/ 194990107 0 106666 SOLE 106666 0 0 COPART INC COMMON 217204106 9769 1033799 SH SOLE 1033799 0 0 COSTAR GROUP INC COMMON 22160N109 5704 192200 SH SOLE 192200 0 0 COUSINS PPTYS INC COMMON 222795106 5468 196000 SH SOLE 196000 0 0 DSP GROUP INC COMMON 23332B106 4106 188700 SH SOLE 188700 0 0 DAILY JOURNAL CORP COMMON 233912104 547 22400 SH SOLE 22400 0 0 DEVRY INC DEL COMMON 251893103 699 30000 SH SOLE 30000 0 0 DOT HILL SYS CORP COMMON 25848T109 5507 420400 SH SOLE 420400 0 0 DU PONT E I DE NEMOURS & COMMON 263534109 766 18386 SH SOLE 18386 0 0 DURATEK INC COMMON 26658Q102 9123 1150500 SH SOLE 1150500 0 0 EPIQ SYS INC COMMON 26882D109 12020 699625 SH SOLE 699625 0 0 EQUINIX INC COM NEW 29444U502 1848 235417 SH SOLE 235417 0 0 EXCELLIGENCE LEARNING CO COMMON 300684107 361 69500 SH SOLE 69500 0 0 EXPEDITORS INTL WASH INC COMMON 302130109 4979 144500 SH SOLE 144500 0 0 EXXON MOBIL CORP COMMON 30231G102 2063 57458 SH SOLE 57458 0 0 FTI CONSULTING INC COMMON 302941109 5414 216825 SH SOLE 216825 0 0 FIRST AMERN CORP CALIF DBCV 4.500 4/1 318522AD1 2218 1950000 PRN SOLE 1950000 0 0 FIRST DATA CORP COMMON 319963104 6914 166834 SH SOLE 166834 0 0 GALAXY NUTRITIONAL FOODS COMMON 36317Q104 42 15000 SH SOLE 15000 0 0 GLENBOROUGH RLTY TR INC COMMON 37803P105 1262 65900 SH SOLE 65900 0 0 HMS HLDGS CORP COMMON 40425J101 279 100000 SH SOLE 100000 0 0 HARRIS INTERACTIVE INC COMMON 414549105 5476 847700 SH SOLE 847700 0 0 HEWLETT PACKARD CO COMMON 428236103 316 14834 SH SOLE 14834 0 0 HI-TECH PHARMACAL INC COMMON 42840B101 2850 69694 SH SOLE 69694 0 0 IMMUCOR INC COMMON 452526106 13097 599950 SH SOLE 599950 0 0 IMPAX LABS S3 COMMON 45256B101 27621 2313307 SH SOLE 2313307 0 0 INHALE THERAPEUTIC SYS I SDCV 5.00 02/08 457191AD6 1512 2100000 PRN SOLE 2100000 0 0 INHALE THERAPEUTIC SYS I NOTE 5.000 2/0 457191AF1 1001 1390000 PRN SOLE 1390000 0 0 INTEGRAL SYS INC MD COMMON 45810H107 15545 789100 SH SOLE 789100 0 0 INTEL CORP COMMON 458140100 250 12000 SH SOLE 12000 0 0 INTERNATIONAL RECTIFIER COMMON 460254105 12364 461000 SH SOLE 461000 0 0 INT'L RECTIFIER (REG'D) NOTE 4.250 7/1 460254AE5 4645 4770000 PRN SOLE 4770000 0 0 INTERNATIONAL SPEEDWAY C CL A 460335201 13129 332299 SH SOLE 332299 0 0 INTERNATIONAL SPEEDWAY C CL B 460335300 1471 37725 SH SOLE 37725 0 0 IONICS INC COMMON 462218108 251 11200 SH SOLE 11200 0 0 JOHNSON & JOHNSON COMMON 478160104 393 7600 SH SOLE 7600 0 0 K V PHARMACEUTICAL CO CL A 482740206 6755 243000 SH SOLE 243000 0 0 KAISER LLC CL A (PRIV) COMMON 483101101 677 451000 SH SOLE 451000 0 0 KROLL INC COMMON 501049100 8130 301210 SH SOLE 301210 0 0 KRONOS INC COMMON 501052104 14926 293531 SH SOLE 293531 0 0 LENDINGTREE INC COMMON 52602Q105 1838 75800 SH SOLE 75800 0 0 LIBERTY PPTY TR SH BEN INT 531172104 1953 56450 SH SOLE 56450 0 0 LIFELINE SYS INC COMMON 532192101 7197 253400 SH SOLE 253400 0 0 LITTELFUSE INC COMMON 537008104 3943 179455 SH SOLE 179455 0 0 MBNA CORP COMMON 55262L100 6205 297735 SH SOLE 297735 0 0 MACROVISION CORP COMMON 555904101 9533 478300 SH SOLE 478300 0 0 MANOR CARE INC NEW COMMON 564055101 338 13500 SH SOLE 13500 0 0 MAPINFO CORP COMMON 565105103 5083 712960 SH SOLE 712960 0 0 MARTEK BIOSCIENCES CORP COMMON 572901106 4349 101300 SH SOLE 101300 0 0 MAXIM INTEGRATED PRODS I COMMON 57772K101 3584 105100 SH SOLE 105100 0 0 MEDQUIST INC COM 584949101 599 29598 SH SOLE 29598 0 0 MEMBERWORKS INC COMMON 586002107 12086 609800 SH SOLE 609800 0 0 MERCK & CO INC COMMON 589331107 224 3700 SH SOLE 3700 0 0 MERCURY COMPUTER SYS COMMON 589378108 4053 222699 SH SOLE 222699 0 0 MICROSOFT CORP COMMON 594918104 256 10000 SH SOLE 10000 0 0 MULTI COLOR CORP COMMON 625383104 11283 506650 SH SOLE 506650 0 0 NUCO2, INC (PIPE) COMMON 629428103 1976 210000 SH SOLE 210000 0 0 NAVIGATORS GROUP INC COMMON 638904102 6578 220600 SH SOLE 220600 0 0 OPSWARE INC COMMON 68383A101 5361 1337000 SH SOLE 1337000 0 0 OVERSTOCK COM INC DEL COMMON 690370101 14951 1026850 SH SOLE 1026850 0 0 PENWEST PHARMACEUTICALS COMMON 709754105 6936 284600 SH SOLE 284600 0 0 PHARMACEUTICAL RES INC COMMON 717125108 16233 333600 SH SOLE 333600 0 0 PHILADELPHIA CONS HLDG C COMMON 717528103 4833 120700 SH SOLE 120700 0 0 PHOENIX TECHNOLOGY LTD COMMON 719153108 5351 940500 SH SOLE 940500 0 0 PLUMTREE SOFTWARE INC COMMON 72940Q104 9217 2248100 SH SOLE 2248100 0 0 PRACTICEWORKS INC COMMON 739419109 9638 498600 SH SOLE 498600 0 0 PRICE T ROWE GROUP INC COMMON 74144T108 249 6600 SH SOLE 6600 0 0 PSYCHIATRIC SOLUTIONS IN COMMON 74439H108 582 60000 SH SOLE 60000 0 0 RESPIRONICS INC COMMON 761230101 1939 52076 SH SOLE 52076 0 0 SRI CORP SDCV 8.750 1/0 784642AA8 475 133000 PRN SOLE 133000 0 0 SAFENET INC COMMON 78645R107 10536 379800 SH SOLE 379800 0 0 SELECTIVE INS GROUP INC COMMON 816300107 431 17200 SH SOLE 17200 0 0 SEPRACOR INC 144 (SWP) SDCV 7.000 7/1 817315AF1 3992 3895000 PRN SOLE 3895000 0 0 SEPRACOR INC (REG'D) SDCV 7.000 7/1 817315AH7 6683 6520000 PRN SOLE 6520000 0 0 SERACARE LIFE SCIENCES I COMMON 81747Q100 4859 867600 SH SOLE 867600 0 0 SILICON VY BANCSHARES COMMON 827064106 5605 235400 SH SOLE 235400 0 0 SPORTSMANS GUIDE INC COM NEW 848907200 987 89300 SH SOLE 89300 0 0 STRAYER ED INC COMMON 863236105 3182 40000 SH SOLE 40000 0 0 SYLVAN LEARNING SYS INC COMMON 871399101 11338 497491 SH SOLE 497491 0 0 SYSTEMS & COMPUTER TECHN COMMON 871873105 3529 400600 SH SOLE 400600 0 0 TALX CORP COMMON 874918105 19193 857210 SH SOLE 857210 0 0 UNION PAC CORP COMMON 907818108 723 12458 SH SOLE 12458 0 0 UNITED DOMINION REALTY T COMMON 910197102 504 29244 SH SOLE 29244 0 0 UNITEDHEALTH GROUP INC COMMON 91324P102 2761 54940 SH SOLE 54940 0 0 UTAH MED PRODS INC COMMON 917488108 3599 179500 SH SOLE 179500 0 0 VALUEVISION MEDIA INC CL A 92047K107 7730 565500 SH SOLE 565500 0 0 VIGNETTE CORP COMMON 926734104 1514 768700 SH SOLE 768700 0 0 VIRAGE LOGIC CORP COMMON 92763R104 3640 503400 SH SOLE 503400 0 0 VISUAL NETWORKS INC COMMON 928444108 2705 1974700 SH SOLE 1974700 0 0 VITESSE SEMICONDUCTOR CO COMMON 928497106 6513 1331900 SH SOLE 1331900 0 0 YOCREAM INTL INC COMMON 986001105 485 105400 SH SOLE 105400 0 0 SCOTTISH ANNUITY & LIFE ORD G7885T104 1215 60100 SH SOLE 60100 0 0 TARO PHARMACEUTICAL INDS ORD M8737E108 10714 194700 SH SOLE 194700 0 0 VERISITY LTD ORD M97385112 1688 142200 SH SOLE 142200 0 0 CARLISLE HLDGS LTD ORD P21277101 205 62235 SH SOLE 62235 0 0
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