Ashford Capital Management (TRAK) reports 4.23% stake in ReposiTrak common stock

Rhea-AI Filing Summary

Ashford Capital Management, Inc. filed an updated beneficial ownership report for ReposiTrak, Inc. common shares. Ashford reports beneficial ownership of 768,760 shares of common stock, representing 4.23% of the class, based on 18,173,565 shares outstanding as of May 14, 2026. Ashford has sole voting and sole dispositive power over all 768,760 shares and no shared voting or dispositive power. The filing notes that the shares are held in separate individual client accounts and three separate limited partnerships, consistent with Ashford’s role as a registered investment advisor, and confirms that its holdings are now at or below the 5% ownership threshold for this class.

Key Figures

Shares beneficially owned: 768,760 shares Ownership percentage: 4.23% Shares outstanding: 18,173,565 shares +3 more

6 metrics

Shares beneficially owned 768,760 shares ReposiTrak common shares beneficially owned by Ashford Capital Management, Inc.

Ownership percentage 4.23% Percentage of ReposiTrak common stock class beneficially owned by Ashford

Shares outstanding 18,173,565 shares ReposiTrak common stock reported outstanding as of May 14, 2026

Sole voting power 768,760 shares Shares over which Ashford has sole power to vote or direct the vote

Sole dispositive power 768,760 shares Shares over which Ashford has sole power to dispose or direct disposition

Signature date 08/12/2026 Date Chief Compliance Officer signed the ownership report

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, registered investment advisor, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 768760"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"5 | Sole Voting Power 768,760.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"7 | Sole Dispositive Power 768,760.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

registered investment advisor financial

"The shares reported by the Reporting Person, a registered investment advisor, are held"

A registered investment advisor is a professional or firm that provides financial advice and manages investments for clients, operating under regulations that require them to act in their clients' best interests. This designation helps investors identify trustworthy advisors who are legally committed to providing transparent and fair guidance, much like a licensed doctor is bound to prioritize patient well-being.

Percent of class financial

"(b) | Percent of class: 4.23%. The foregoing percentage is calculated"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

What percentage of ReposiTrak, Inc. (TRAK) does Ashford Capital Management currently own?

Ashford Capital Management reports beneficial ownership of 4.23% of ReposiTrak’s common stock, based on 18,173,565 shares outstanding as of May 14, 2026, referenced from the company’s March 31, 2026 quarterly report.

How many ReposiTrak, Inc. (TRAK) shares are beneficially owned by Ashford Capital Management?

Ashford Capital Management beneficially owns 768,760 ReposiTrak common shares. It reports sole voting and sole dispositive power over all 768,760 shares, with no shared voting or shared dispositive authority.

Does Ashford Capital Management have sole or shared voting power over TRAK shares?

Ashford Capital Management reports sole voting power over 768,760 ReposiTrak shares and no shared voting power. It also has sole dispositive power over the same number of shares, with zero shared dispositive power.

How are Ashford Capital Management’s ReposiTrak (TRAK) shares held?

The filing states that the reported shares are held in separate individual client accounts and in three separate limited partnerships, reflecting Ashford Capital Management’s role as a registered investment advisor managing client assets.

Is Ashford Capital Management a 5% or greater holder of ReposiTrak, Inc. (TRAK)?

Ashford Capital Management indicates ownership of 5 percent or less of ReposiTrak’s common stock. Its reported beneficial ownership is 4.23%, placing it below the 5% reporting threshold for larger holders.

What date and role are disclosed for the signer of Ashford’s TRAK ownership report?

The report is signed by Alex Patseliev as Chief Compliance Officer of Ashford Capital Management, Inc., dated 08/12/2026, evidencing certification of the disclosed beneficial ownership information.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/13/2026 - 01:38 PM Accepted by SEC EDGAR 08/13/2026 - 01:37 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ReposiTrak, Inc.

(Name of Issuer)

Common Shares, par value $0.01 per share

(Title of Class of Securities)

700215304

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 700215304

1

Names of Reporting Persons

ASHFORD CAPITAL MANAGEMENT INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 768,760.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 768,760.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

768,760.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ReposiTrak, Inc.
(b)	Address of issuer's principal executive offices: 5282 SOUTH COMMERCE DRIVE, SUITE D292, MURRAY, UTAH, 84107.
Item 2.
(a)	Name of person filing: Ashford Capital Management, Inc.
(b)	Address or principal business office or, if none, residence: 1 Walker's Mill Rd, Wilmington DE 19807
(c)	Citizenship: A Delaware Corporation
(d)	Title of class of securities: Common Shares, par value $0.01 per share
(e)	CUSIP No.: 700215304
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 768760
(b)	Percent of class: 4.23%. The foregoing percentage is calculated based on 18,173,565 shares of Common Stock reported to be outstanding as of May 14, 2026 in the Issuer's March 31, 2026 Quarterly Report filed on Form 10-Q.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 768760
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 768760
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The shares reported by the Reporting Person, a registered investment advisor, are held in separate individual client accounts and three separate limited partnerships.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ASHFORD CAPITAL MANAGEMENT INC

Signature:	Alex Patseliev
Name/Title:	Chief Compliance Officer
Date:	08/12/2026