I have read that ammonoids ate small floating crinoids, ostracods, and mostly small juvenile ammonoids, according to the few fossils with preserved stomach contents. The small ammonoid parts preserved in the stomach contents were aptychi or jaws, and crushed shell. Seems they would float around floating mats of seaweed, and pick off the small fry as they came into range. Ammonoids are not belemnites, though they possibly ate about the same things. The belemnites were probably much faster and could catch faster prey. I will try to remember where I read this and post a reference.

Monks and Palmer also discuss ammonoid prey, and suggest that belemnites, because they had hooks on their arms, fed more like modern squid, mostly on small fish and crustaceans.
found the references:
Nixon, Marion, Morphology of the Jaws and Radula:
and
Westermann, G.E.G., Ammonoid Life and Habitat:
in Landman, Neil H., Kazushige Tanabe, and Richard Arnold Davis, editors, 1996, Ammonoid paleobiology. Plenum Press, New York [ISBN: 0-306-45222-7]
See also
Monks, Neil and Palmer, P., 2002, Ammonites. Smithsonian Institution Press [ISBN: 1588340244]