Ashe Capital Management, LP

Sector-focusedContrarianQuality / disciplined sizing

Total reported value

$797.4M

Reporting period: 2026-03-31 · Number of holdings: 7

Ashe Capital Management, LP disclosed 7 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $797.4M and a quarterly turnover rate of 34.4%.

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Personality snowflake

Concentration: 68.25
Portfolio Stability: 34.41
Momentum/Contrarian: 0
Sector conviction: 100
Diversification: 14
Sizing Uniformity: 95.24

Recent moves

Trim APPF
-2.8%　-$85.4M
Trim SHOP
-5.9%　-$86.3M
Add FWONA
0.0%　-$13.4M
Add DDOG
-2.6%　-$15.9M
Trim FWONK
-14.5%　-$48.9M
Trim VEEV
-3.1%　-$24.8M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SHOP	Shopify INC - Class A	Stock-Tech	24.51%	-2.79%	-5.86%
2	APPF	Appfolio INC - A	Stock-Tech	20.74%	-3.56%	-2.78%
3	FWONK	Liberty Media Corp-formula-c	Stock-Comm Services	17.23%	-0.82%	-14.54%
4	FWONA	Liberty Media Corp-formula-a	Stock-Other	11.60%	+1.34%	—
5	DDOG	Datadog INC - Class A	Stock-Tech	10.90%	+0.93%	-2.64%
6	VEEV	Veeva Systems Inc-class A	Stock-Healthcare	9.99%	-0.13%	-3.10%
7	DASH	Doordash INC - A	Stock-Consumer Disc	5.03%	+5.03%	NEW

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	7	$797.4M	34	1SHOP 2APPF 3FWONK Top holdings2026-03-31 1.SHOP 2.APPF 3.FWONK 4.FWONA 5.DDOG 6.VEEV 7.DASH
2025-12-31	6	$1.0B	32	1SHOP 2APPF 3FWONK Top holdings2025-12-31 1.SHOP 2.APPF 3.FWONK 4.FWONA 5.VEEV 6.DDOG
2025-09-30	7	$1.4B	32	1APPF 2SHOP 3FWONK Top holdings2025-09-30 1.APPF 2.SHOP 3.FWONK 4.VEEV 5.DDOG 6.FWONA 7.TEAM
2025-06-30	7	$1.3B	0	1APPF 2FWONK 3SHOP Top holdings2025-06-30 1.APPF 2.FWONK 3.SHOP 4.VEEV 5.DDOG 6.FWONA 7.TEAM
2025-03-31	7	$1.1B	100	1APPF 2FWONK 3SHOP Top holdings2025-03-31 1.APPF 2.FWONK 3.SHOP 4.VEEV 5.TEAM 6.FWONA 7.DDOG
2024-12-31	7	$1.2B	0	1APPF 2FWONK 3SHOP Top holdings2024-12-31 1.APPF 2.FWONK 3.SHOP 4.DDOG 5.TEAM 6.VEEV 7.FWONA
2024-09-30	7	$1.3B	0	1APPF 2FWONK 3SHOP Top holdings2024-09-30 1.APPF 2.FWONK 3.SHOP 4.DDOG 5.VEEV 6.FWONA 7.TEAM
2024-06-30	7	$1.2B	0	1APPF 2FWONK 3SHOP Top holdings2024-06-30 1.APPF 2.FWONK 3.SHOP 4.DDOG 5.VEEV 6.TEAM 7.FWONA
2024-03-31	9	$1.2B	0	1APPF 2FWONK 3SHOP Top holdings2024-03-31 1.APPF 2.FWONK 3.SHOP 4.DDOG 5.TEAM 6.VEEV 7.FWONA 8.LILA 9.G9001E
2023-12-31	8	$1.2B	0	1FWONK 2APPF 3SHOP Top holdings2023-12-31 1.FWONK 2.APPF 3.SHOP 4.DDOG 5.TEAM 6.FWONA 7.LILA 8.G9001E
2023-09-30	11	$1.2B	0	1APPF 2FWONK 3SHOP Top holdings2023-09-30 1.APPF 2.FWONK 3.SHOP 4.DDOG 5.TEAM 6.LILA 7.FWONA 8.G9001E 9.LLYVK* 10.BATRK
2023-06-30	8	$1.3B	0	1FWONKUSD 2APPF 3SHOP Top holdings2023-06-30 1.FWONKUSD 2.APPF 3.SHOP 4.DDOG 5.TEAM 6.LILA 7.LM05 8.G9001E
2023-03-31	8	$1.1B	0	1FWONKUSD 2APPF 3SHOP Top holdings2023-03-31 1.FWONKUSD 2.APPF 3.SHOP 4.DDOG 5.TEAM 6.LILA 7.LM05 8.G9001E
2022-12-31	8	$911.0M	0	1FWONKUSD 2APPF 3SHOP Top holdings2022-12-31 1.FWONKUSD 2.APPF 3.SHOP 4.DDOG 5.LILA 6.TEAM 7.LM05 8.G9001E
2022-09-30	8	$1.0B	0	1FWONKUSD 2APPF 3DDOG Top holdings2022-09-30 1.FWONKUSD 2.APPF 3.DDOG 4.TEAM 5.SHOP 6.LILA 7.LM05 8.G9001E
2022-06-30	10	$1.1B	0	1FWONKUSD 2APPF 3DDOG Top holdings2022-06-30 1.FWONKUSD 2.APPF 3.DDOG 4.TEAM 5.LILA 6.LM05 7.SHOP 8.Z 9.G9001E 10.ZG
2022-03-31	12	$1.4B	0	1FWONKUSD 2APPF 3DDOG Top holdings2022-03-31 1.FWONKUSD 2.APPF 3.DDOG 4.TEAM 5.LILA 6.SHOP 7.LBRDA 8.LM05 9.Z 10.G9001E
2021-12-31	11	$1.5B	0	1FWONKUSD 2DDOG 3APPF Top holdings2021-12-31 1.FWONKUSD 2.DDOG 3.APPF 4.LBRDA 5.LILA 6.TEAM 7.Z 8.LBRDK 9.LM05 10.G9001E
2021-09-30	11	$1.7B	0	1FWONKUSD 2APPF 3DDOG Top holdings2021-09-30 1.FWONKUSD 2.APPF 3.DDOG 4.LBRDA 5.LILA 6.LBRDK 7.DAY 8.TEAM 9.FROG 10.G9001E
2021-06-30	11	$1.6B	95	1FWONKUSD 2APPF 3LILA Top holdings2021-06-30 1.FWONKUSD 2.APPF 3.LILA 4.LBRDA 5.LBRDK 6.DDOG 7.FROG 8.DAY 9.TEAM 10.G9001E
2021-03-31	12	$1.5B	14	1APPF 2FWONKUSD 3LILA Top holdings2021-03-31 1.APPF 2.FWONKUSD 3.LILA 4.LBRDK 5.LBRDA 6.DDOG 7.FROG 8.DAY 9.G9001E 10.LM05
2020-12-31	12	$1.6B	29	1APPF 2FWONKUSD 3LBRDK Top holdings2020-12-31 1.APPF 2.FWONKUSD 3.LBRDK 4.LBRDA 5.LILA 6.DAY 7.FROG 8.DDOG 9.LSXMKUSD 10.G9001E
2020-09-30	12	$1.4B	13	1APPF 2DAY 3FWONKUSD Top holdings2020-09-30 1.APPF 2.DAY 3.FWONKUSD 4.LBRDK 5.LBRDA 6.LILA 7.DDOG 8.LSXMKUSD 9.LM05 10.G9001E
2020-06-30	11	$1.3B	31	1APPF 2DAY 3FWONKUSD Top holdings2020-06-30 1.APPF 2.DAY 3.FWONKUSD 4.LBRDK 5.LBRDA 6.DDOG 7.LILA 8.LSXMKUSD 9.G9001E 10.LM05
2020-03-31	12	$1.1B	32	1APPF 2FWONKUSD 3LBRDK Top holdings2020-03-31 1.APPF 2.FWONKUSD 3.LBRDK 4.DAY 5.LBRDA 6.LILA 7.TWLO 8.LSXMKUSD 9.G9001E 10.DDOG
2019-12-31	12	$1.3B	36	1FWONKUSD 2DAY 3APPF Top holdings2019-12-31 1.FWONKUSD 2.DAY 3.APPF 4.LBRDK 5.LILA 6.LBRDA 7.LSXMKUSD 8.G9001E 9.TWLO 10.LM05
2019-09-30	11	$1.3B	5	1ALSN 2FWONKUSD 3APPF Top holdings2019-09-30 1.ALSN 2.FWONKUSD 3.APPF 4.LBRDK 5.DAY 6.LILA 7.LBRDA 8.LSXMKUSD 9.G9001E 10.LM05
2019-06-30	11	$1.3B	23	1ALSN 2FWONKUSD 3APPF Top holdings2019-06-30 1.ALSN 2.FWONKUSD 3.APPF 4.LBRDK 5.DAY 6.LILA 7.LBRDA 8.G9001E 9.LSXMKUSD 10.LM05
2019-03-31	11	$1.4B	19	1ALSN 2FWONKUSD 3DAY Top holdings2019-03-31 1.ALSN 2.FWONKUSD 3.DAY 4.APPF 5.LBRDK 6.LILA 7.LBRDA 8.G9001E 9.LSXMKUSD 10.LM05
2018-12-31	12	$1.2B	34	1ALSN 2FWONKUSD 3LBRDK Top holdings2018-12-31 1.ALSN 2.FWONKUSD 3.LBRDK 4.APPF 5.DAY 6.LILA 7.LBRDA 8.LSXMKUSD 9.G9001E 10.ST
2018-09-30	12	$1.5B	14	1ALSN 2FWONKUSD 3ST Top holdings2018-09-30 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.APPF 6.LILA 7.LBRDA 8.LSXMKUSD 9.698354 10.G9001E
2018-06-30	12	$1.3B	13	1ALSN 2FWONKUSD 3ST Top holdings2018-06-30 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.LILA 6.698354 7.APPF 8.LSXMKUSD 9.LBRDA 10.G9001E
2018-03-31	12	$1.2B	29	1ALSN 2FWONKUSD 3ST Top holdings2018-03-31 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.LBRDA 6.LILA 7.LSXMKUSD 8.698354 9.APPF 10.G9001E
2017-12-31	12	$1.2B	34	1ALSN 2FWONKUSD 3ST Top holdings2017-12-31 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.LILA 6.LBRDA 7.LSXMKUSD 8.698354 9.APPF 10.G9001E
2017-09-30	13	$1.2B	15	1ALSN 2FWONKUSD 3ST Top holdings2017-09-30 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.USA 6.LBRDA 7.LSXMKUSD 8.APPF 9.USA 10.698354
2017-06-30	13	$1.2B	9	1ALSN 2FWONKUSD 3ST Top holdings2017-06-30 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.527288 6.LSXMKUSD 7.LBRDA 8.USA 9.APPF 10.698354
2017-03-31	13	$1.1B	100	1ALSN 2FWONKUSD 3ST Top holdings2017-03-31 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.527288 6.LSXMKUSD 7.LBRDA 8.USA 9.APPF 10.LYV
2016-12-31	12	$1.0B	0	1ALSN 2FWONKUSD 3ST Top holdings2016-12-31 1.ALSN 2.FWONKUSD 3.ST 4.LBRDK 5.527288 6.LSXMKUSD 7.LBRDA 8.USA 9.USA 10.LYV
2016-09-30	13	$951.4M	0	1ALSN 2FWONKUSD 3ST Top holdings2016-09-30 1.ALSN 2.FWONKUSD 3.ST 4.527288 5.LBRDK 6.LBRDA 7.LSXMKUSD 8.MORN 9.LYV 10.LM03
2016-06-30	13	$852.0M	28	1ALSN 2ST3527288 Top holdings2016-06-30 1.ALSN 2.ST 3.527288 4.LBRDK 5.FWONKUSD 6.MORN 7.LYV 8.LBRDA 9.LSXMKUSD 10.LM03
2016-03-31	9	$776.8M	15	1ALSN 2ST3527288 Top holdings2016-03-31 1.ALSN 2.ST 3.527288 4.LBRDK 5.MORN 6.LYV 7.LBRDA 8.USA 9.USA
2015-12-31	9	$754.2M	12	1ALSN 2ST 3MORN Top holdings2015-12-31 1.ALSN 2.ST 3.MORN 4.527288 5.LBRDK 6.LYV 7.USA 8.LBRDA 9.USA
2015-09-30	9	$683.0M	6	1ALSN 2ST 3MORN Top holdings2015-09-30 1.ALSN 2.ST 3.MORN 4.527288 5.LBRDK 6.LYV 7.USA 8.LBRDA 9.USA
2015-06-30	9	$718.2M	10	1ALSN 2ST 3MORN Top holdings2015-06-30 1.ALSN 2.ST 3.MORN 4.527288 5.LBRDK 6.LYV 7.USA 8.LBRDA 9.USA
2015-03-31	9	$655.4M	22	1ALSN 2ST 3MORN Top holdings2015-03-31 1.ALSN 2.ST 3.MORN 4.527288 5.LBRDK 6.LYV 7.USA 8.USA 9.LBRDA
2014-12-31	10	$527.8M	0	1ALSN 2ST 3MORN Top holdings2014-12-31 1.ALSN 2.ST 3.MORN 4.527288 5.LYV 6.USA 7.LBRDK 8.USA 9.LBRDA 10.530307

Holding changes this quarter

Ashe Capital Management, LP's most significant position changes for 2026-03-31: New buy: Doordash INC - A (DASH); Trim: Appfolio INC - A (APPF) — shares -2.78%; Trim: Shopify INC - Class A (SHOP) — shares -5.86%; Trim: Datadog INC - Class A (DDOG) — shares -2.64%; Trim: Liberty Media Corp-formula-c (FWONK) — shares -14.54%.

Position changes disclosed by Ashe Capital Management, LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	FWONA	Liberty Media Corp-formula-a	+1.3%	—	Unchanged
2	DDOG	Datadog INC - Class A	+0.9%	-2.64%	Trim
3	VEEV	Veeva Systems Inc-class A	-0.1%	-3.10%	Trim
4	FWONK	Liberty Media Corp-formula-c	-0.8%	-14.54%	Trim
5	SHOP	Shopify INC - Class A	-2.8%	-5.86%	Trim
6	APPF	Appfolio INC - A	-3.6%	-2.78%	Trim
7	DASH	Doordash INC - A	—	NEW	New buy

FAQ

What is Ashe Capital Management, LP and what type of investor is it?

Ashe Capital Management, LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $797.4M, spread across 7 disclosed positions.

What are Ashe Capital Management, LP's largest equity positions?

Based on the latest 13F filing, Ashe Capital Management, LP's top holdings by market value are: 1. Shopify INC - Class A (SHOP) — $195.5M (24.5%) 2. Appfolio INC - A (APPF) — $165.4M (20.7%) 3. Liberty Media Corp-formula-c (FWONK) — $137.4M (17.2%) 4. Liberty Media Corp-formula-a (FWONA) — $92.5M (11.6%) 5. Datadog INC - Class A (DDOG) — $86.9M (10.9%)

What changes did Ashe Capital Management, LP make in its most recent portfolio filing?

In the latest reported quarter, Ashe Capital Management, LP made 6 notable position adjustments: 1 new positions were initiated, 0 existing holdings were added to, 5 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Doordash INC - A (DASH); Trim: Appfolio INC - A (APPF) — shares -2.78%; Trim: Shopify INC - Class A (SHOP) — shares -5.86%; Trim: Datadog INC - Class A (DDOG) — shares -2.64%; Trim: Liberty Media Corp-formula-c (FWONK) — shares -14.54%

What sectors does Ashe Capital Management, LP focus on?

Ashe Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 63.5% • Communication Services: 19.5% • Health Care: 11.3% • Consumer Discretionary: 5.7%