1y return−6.3%S&P 500 +20.9%
3y return+31.5%S&P 500 +68.5%
5y return+30.3%S&P 500 +74.5%
10y return+228.0%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $328 against $357 in the S&P 500.2
Ashe Capital Management, LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| DDOGDatadog Inc | $180.0M | 19.3% | −6.1% |
| SHOPShopify Inc | $176.1M | 18.9% | −6.4% |
| APPFAppfolio Inc | $168.0M | 18.0% | |
| FWONKLiberty Media Corp Del | $136.9M | 14.7% | −11.0% |
| FWONALiberty Media Corp Del | $103.7M | 11.1% | |
| DASHDoordash Inc | $91.5M | 9.8% | +85.7% |
| VEEVVeeva Sys Inc | $75.2M | 8.1% | −6.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| DDOGDatadog Inc | June 30, 2020 | +199.4% | $180.0M |
| SHOPShopify Inc | March 31, 2022 | +68.9% | $176.1M |
| FWONALiberty Media Corp Del | September 30, 2023 | +54.8% | $103.7M |
| FWONKLiberty Media Corp Del | September 30, 2023 | +52.7% | $136.9M |
| DASHDoordash Inc | March 31, 2026 | +22.9% | $91.5M |
| APPFAppfolio Inc | June 30, 2020 | −1.5% | $168.0M |
| VEEVVeeva Sys Inc | March 31, 2024 | −23.4% | $75.2M |
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +17.3% | +14.8% |
| March 31, 2026 | −22.2% | −4.6% |
| December 31, 2025 | −7.0% | +2.4% |
| September 30, 2025 | +10.5% | +7.8% |
| June 30, 2025 | +15.1% | +10.5% |
| March 31, 2025 | −8.9% | −4.6% |
| December 31, 2024 | +18.8% | +2.1% |
| September 30, 2024 | +3.6% | +5.4% |
| June 30, 2024 | −1.5% | +4.0% |
| March 31, 2024 | +8.0% | +10.0% |
| December 31, 2023 | +9.6% | +11.2% |
| September 30, 2023 | −6.8% | −3.6% |
| June 30, 2023 | +15.6% | +8.3% |
| March 31, 2023 | +21.3% | +7.0% |
| December 31, 2022 | −3.2% | +7.1% |
| September 30, 2022 | −4.0% | −5.3% |
| June 30, 2022 | −22.4% | −16.5% |
| March 31, 2022 | −8.1% | −4.9% |
| December 31, 2021 | +4.0% | +10.7% |
| September 30, 2021 | +2.6% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Ashe Capital Management, LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1632715&type=13F-HR&dateb=&owner=include&count=40CIK 1632715
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1632715/000117266126003464/Filed August 14, 2026 · accession 0001172661-26-003464