13F-HR 1 mar2004-13f.txt Main Page (1) TYPE 13F-HR DOCUMENT-COUNT 1 PERIOD 3/31/04 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: March 31, 2004 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: 134 Form 13F Information Table Value Total: $873,005 (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 COM 002535201 7501 301350 SH SOLE 301350 0 0 ACTEL CORP COM 004934105 6594 291373 SH SOLE 291373 0 0 ACTIVCARD CORP COM 00506J107 3257 528800 SH SOLE 528800 0 0 ADOBE SYSTEMS COM 00724F101 825 21000 SH SOLE 21000 0 0 ADOLOR CORP COM 00724X102 2119 140700 SH SOLE 140700 0 0 ALLIED CAP CORP COM 01903Q108 8894 293637 SH SOLE 293637 0 0 ALTIRIS INC COM 02148M100 1395 50000 SH SOLE 50000 0 0 AMBASSADORS GROUP INC COM 023177108 26064 1053098 SH SOLE 1053098 0 0 AMBASSADORS INT COM 023178106 15476 1180500 SH SOLE 1180500 0 0 AMER POWER CONV COM 029066107 1255 54600 SH SOLE 54600 0 0 AMERICAN VANGUARD CORPORA COM 030371108 4592 97700 SH SOLE 97700 0 0 APPLIED IMAGING CORP COM 03820G106 515 360000 SH SOLE 360000 0 0 ARMOR HOLDINGS INC COM 042260109 32643 986203 SH SOLE 986203 0 0 AVNET INC COM 053807103 207 8439 SH SOLE 8439 0 0 BALCHEM CORP COM 057665200 14281 543000 SH SOLE 543000 0 0 BERKSHIRE HATHAWAY A COM 084670108 2519 27 SH SOLE 27 0 0 BERKSHIRE HATHAWAY B COM 084670207 2147 690 SH SOLE 690 0 0 BIO-REFERENCE LABS INC COM 09057G602 1553 98200 SH SOLE 98200 0 0 BRIGHTPOINT, INC. COM 109473405 8403 547400 SH SOLE 547400 0 0 BROWN & BROWN INC COM 115236101 16727 431550 SH SOLE 431550 0 0 CARDINAL HEALTH COM 14149Y108 322 4675 SH SOLE 4675 0 0 CARLISLE HOLDINGS LIMITED COM P21277101 405 62235 SH SOLE 62235 0 0 CASH AMERICA INT'L INC. COM 14754D100 17105 742100 SH SOLE 742100 0 0 CCC INFORMATION SERVICES COM 12487Q109 11273 622500 SH SOLE 622500 0 0 CENTRAL PARKING COM 154785109 635 31600 SH SOLE 31600 0 0 CERADYNE INC COM 156710105 271 7500 SH SOLE 7500 0 0 CHEVRONTEXACO CORPORATION COM 166764100 493 5616 SH SOLE 5616 0 0 CLARUS CORP COM 182707109 13211 1329100 SH SOLE 1329100 0 0 COCA-COLA CO COM 191216100 419 8332 SH SOLE 8332 0 0 COGNIZANT TECH SOLUTIONS COM 192446102 2041 45100 SH SOLE 45100 0 0 COINSTAR INC. COM 19259P300 6483 410600 SH SOLE 410600 0 0 COLLAGENEX PHARMACEUTICAL (P O COM 19419B100 623 46790 SH SOLE 46790 0 0 COLLEGIATE PACIFIC CORP COM 194589206 4880 523000 SH SOLE 523000 0 0 COOKER RESTAURANT CORP SD CONV BONDS 216284AA7 4 68000 PRN SOLE 68000 0 0 COPART INC COM 217204106 22304 1026400 SH SOLE 1026400 0 0 CORIO INC COM 218875102 1953 489500 SH SOLE 489500 0 0 COSTAR GROUP INC COM 22160N109 11345 307700 SH SOLE 307700 0 0 COUSINS PPTYS COM 222795106 6332 193100 SH SOLE 193100 0 0 CSG SYSTEMS INT'L INC COM 126349109 24179 1407400 SH SOLE 1407400 0 0 DAILY JOURNAL CORP COM 233912104 807 22400 SH SOLE 22400 0 0 DEVRY INC COM 251893103 844 28000 SH SOLE 28000 0 0 DOT HILL SYSTEMS CORP COM 25848T109 5508 548600 SH SOLE 548600 0 0 DSP GROUP INC COM 23332B106 6251 242300 SH SOLE 242300 0 0 DUPONT COM 263534109 611 14483 SH SOLE 14483 0 0 DURATEK INC COM 26658Q102 19375 1215500 SH SOLE 1215500 0 0 EPIQ SYSTEMS INC COM 26882D109 11872 728325 SH SOLE 728325 0 0 EQUINIX INC COM 29444U502 17895 493924 SH SOLE 493924 0 0 EVCI CAREER COLLEGES COM 26926P100 1787 141700 SH SOLE 141700 0 0 EXACT SCIENCES CORP COM 30063P105 235 30000 SH SOLE 30000 0 0 EXCELLIGENCE LEARNING CORP COM 300684107 526 90800 SH SOLE 90800 0 0 EXPEDITORS INTL COM 302130109 5526 140393 SH SOLE 140393 0 0 EXXON MOBIL CORP COM 30231G102 2276 54731 SH SOLE 54731 0 0 FIRST AMERICAN CORP CALIF CONV BONDS 318522AD1 2033 1880000 PRN SOLE 1880000 0 0 FIRST DATA CORP COM 319963104 6894 163514 SH SOLE 163514 0 0 GALAXY NUTR FOODS INC COM 36317Q104 631 326900 SH SOLE 326900 0 0 GLENBOROUGH RLT COM 37803P105 1330 59500 SH SOLE 59500 0 0 GREG MANNING AUCTIONS, INC COM 563823103 3652 256800 SH SOLE 256800 0 0 HARRIS INTERACTIVE INC COM 414549105 3689 442800 SH SOLE 442800 0 0 HEWLETT-PACKARD COM 428236103 339 14834 SH SOLE 14834 0 0 HI-TECH PHARMACAL INC COM 42840B101 1465 74950 SH SOLE 74950 0 0 HMS HOLDINGS CORP COM 40425J101 1088 163800 SH SOLE 163800 0 0 IMMUCOR INC COM 452526106 16032 884775 SH SOLE 884775 0 0 IMPAX LABORATORIES INC COM 45256B101 29873 1335416 SH SOLE 1335416 0 0 IMPAX LABORATORIES INC (REST I COM 45256B101 1073 47981 SH SOLE 47981 0 0 INT'L RECTIFIER INC COM 460254105 23735 516100 SH SOLE 516100 0 0 INTEGRAL SYSTEMS INC COM 45810H107 15308 809500 SH SOLE 809500 0 0 INTEL CORPORATION COM 458140100 326 12000 SH SOLE 12000 0 0 INTERACTIVE CORPORATION COM 45840Q101 1238 39132 SH SOLE 39132 0 0 INTL PAPER COM 460146103 226 5346 SH SOLE 5346 0 0 INTL SPEEDWAY-A COM 460335201 15209 323600 SH SOLE 323600 0 0 INTL SPEEDWAY-B COM 460335300 1747 37725 SH SOLE 37725 0 0 IONICS INC COM 462218108 318 11200 SH SOLE 11200 0 0 JOHNSON & JOHNSON COM 478160104 375 7400 SH SOLE 7400 0 0 KENSEY NASH CORP. COM 490057106 4502 183300 SH SOLE 183300 0 0 KROLL INC COM 501049100 16567 617010 SH SOLE 617010 0 0 KRONOS INC COM 501052104 12158 373746 SH SOLE 373746 0 0 KV PHARMACEUTICAL CO.-CL A COM 482740206 16116 656200 SH SOLE 656200 0 0 LIBERTY PROPERTIES COM 531172104 1919 42650 SH SOLE 42650 0 0 LIFELINE SYSTEMS INC COM 532192101 9219 485200 SH SOLE 485200 0 0 LITTELFUSE INC COM 537008104 6387 171700 SH SOLE 171700 0 0 LUMINEX CORP. COM 55027E102 1028 113600 SH SOLE 113600 0 0 MACROVISION CORP COM 555904101 9122 482900 SH SOLE 482900 0 0 MANOR CARE INC COM 564055101 476 13500 SH SOLE 13500 0 0 MAPINFO CORP COM 565105103 8080 630760 SH SOLE 630760 0 0 MARTEK BIOSCIENCES INC COM 572901106 2546 44700 SH SOLE 44700 0 0 MAXIM INTEGRATED COM 57772K101 4763 101400 SH SOLE 101400 0 0 MBNA CORP COM 55262L100 7927 286881 SH SOLE 286881 0 0 MEMBERWORKS INC COM 586002107 23635 674900 SH SOLE 674900 0 0 MERCURY COMPUTER SYSTEMS COM 589378108 7022 275599 SH SOLE 275599 0 0 MILLER INDS INC TENN COM 600551204 2248 251400 SH SOLE 251400 0 0 MULTI-COLOR CORP COM 625383104 14295 754375 SH SOLE 754375 0 0 NAVIGATORS GROUP INC COM 638904102 6119 212600 SH SOLE 212600 0 0 NEKTAR THERAPEUTIC SYSTEM CONV BONDS 457191AD6 2166 2075000 PRN SOLE 2075000 0 0 NEKTAR THERAPEUTIC SYSTEM CONV BONDS 457191AF1 1451 1390000 PRN SOLE 1390000 0 0 NETSOLVE INC COM 64115J106 1171 110900 SH SOLE 110900 0 0 NOVATEL WIRELESS, INC. COM 66987M604 4620 214900 SH SOLE 214900 0 0 NOVATEL, INC. COM 669954109 4342 405000 SH SOLE 405000 0 0 NUCO2 INC COM 629428103 4986 267500 SH SOLE 267500 0 0 NUCO2 INC (S3) COM 629428103 3262 175000 SH SOLE 175000 0 0 OPSWARE INC COM 68383A101 7699 1018400 SH SOLE 1018400 0 0 OVERSTOCK COM INC DEL COM 690370101 20339 658650 SH SOLE 658650 0 0 PENWEST PHARMACEUTICALS COM 709754105 12449 852100 SH SOLE 852100 0 0 PHARMACEUTICAL RESOURCES COM 717125108 10167 178800 SH SOLE 178800 0 0 PHILA CONS HLDG COM 717528103 6571 113300 SH SOLE 113300 0 0 PHOENIX TECHNOLOGIES LTD COM 719153108 2893 536800 SH SOLE 536800 0 0 PLANTRONICS INC. COM 727493108 1809 49400 SH SOLE 49400 0 0 PLUMTREE SOFTWARE COM 72940Q104 9264 2174600 SH SOLE 2174600 0 0 POLYMEDICA CORP. COM 731738100 6118 228300 SH SOLE 228300 0 0 PSYCHIATRIC SOLUTIONS INC COM 74439H108 846 45000 SH SOLE 45000 0 0 RESPIRONICS INC COM 761230101 2262 41876 SH SOLE 41876 0 0 RITCHIE BROS. AUCTIONEERS COM 767744105 3180 56600 SH SOLE 56600 0 0 SAFENET INC COM 78645R107 13436 357900 SH SOLE 357900 0 0 SERACARE LIFE SCIENCES INC COM 81747Q100 11440 915200 SH SOLE 915200 0 0 SILICON VALLEY BANCSHARES COM 827064106 14231 438700 SH SOLE 438700 0 0 SPORTSMAN'S GUIDE INC COM 848907200 2138 104300 SH SOLE 104300 0 0 STRAYER EDUCATION INC COM 863236105 2269 19400 SH SOLE 19400 0 0 SYLVAN LEARNING SYSTEMS COM 871399101 15940 453992 SH SOLE 453992 0 0 T ROWE PRICE GROUP COM 74144T108 345 6400 SH SOLE 6400 0 0 TALX CORP COM 874918105 16829 766680 SH SOLE 766680 0 0 TARO PHARMACEUTICAL INDUSTRI S COM M8737E108 9911 170900 SH SOLE 170900 0 0 TCW CONVERTIBLE SECURITIES F N COM 872340104 1365 275691 SH SOLE 275691 0 0 UNION PACIFIC CORP COM 907818108 745 12458 SH SOLE 12458 0 0 UNITED DOMINION REALTY COM 910197102 560 28544 SH SOLE 28544 0 0 UNITED HEALTH GROUP COM 91324P102 3495 54240 SH SOLE 54240 0 0 UTAH MEDICAL PRODUCTS INC COM 917488108 6015 244800 SH SOLE 244800 0 0 VALUE VISION INC COM 92047K107 9004 586600 SH SOLE 586600 0 0 VARSITY GROUP, INC. COM 922281100 214 42800 SH SOLE 42800 0 0 VERISITY LTD COM M97385112 2108 228900 SH SOLE 228900 0 0 VIRAGE LOGIC CORPORATION COM 92763R104 4107 444100 SH SOLE 444100 0 0 VISUAL NETWORKS COM 928444108 5390 1618600 SH SOLE 1618600 0 0 VITESSE SEMICONDUCTOR CORP COM 928497106 8519 1199900 SH SOLE 1199900 0 0 XATA CORP COM 983882309 1208 204700 SH SOLE 204700 0 0 XATA CORP PIPES COM 983882309 2508 425000 SH SOLE 425000 0 0 YOCREAM INTERNATIONAL INC COM 986001105 165 31900 SH SOLE 31900 0 0
/TEXT /DOCUMENT /SUBMISSION