ADVISORY BRD CO

CUSIP: 00762W107 Class: COM

ASHFORD CAPITAL MANAGEMENT INC's Holding History (CIK: 0000897070)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 23,500 Value ($000) $1,166 Avg Close — Range —

Q3 2015

Shares 40,500 Value ($000) $1,844 Avg Close — Range —

Q2 2015

Shares 36,500 Value ($000) $1,995 Avg Close — Range —

Q1 2015

Shares 36,500 Value ($000) $1,945 Avg Close — Range —

Q4 2014

Shares 36,500 Value ($000) $1,788 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	23,500	$1,166	—	—
Q3 2015	40,500	$1,844	—	—
Q2 2015	36,500	$1,995	—	—
Q1 2015	36,500	$1,945	—	—
Q4 2014	36,500	$1,788	—	—