# Potomac Capital Management, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1418746. Source: https://holderbook.com/funds/1418746-potomac-capital-management-inc/

- Reported value: $146.5M
- Positions: 65
- Weight of the ten largest: 55.8%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ECHOSTAR CORP | [ECHO](https://holderbook.com/stocks/ECHO/) | $17.3M | 166,277 | 11.8% | 3 |
| ANTERIX INC | [ATEX](https://holderbook.com/stocks/ATEX/) | $17.0M | 155,071 | 11.6% | 3 |
| LESAKA TECHNOLOGIES INC | [LSAK](https://holderbook.com/stocks/LSAK/) | $7.5M | 1,515,000 | 5.1% | 12 |
| VIANT TECHNOLOGY INC | [DSP](https://holderbook.com/stocks/DSP/) | $6.9M | 538,000 | 4.7% | 11 |
| PERMA-FIX ENVIRONMENTAL SVCS | [PESI](https://holderbook.com/stocks/PESI/) | $6.8M | 477,000 | 4.7% | 12 |
| CONX CORP | [CNXX](https://holderbook.com/stocks/CNXX/) | $6.7M | 1,046,710 | 4.6% | 3 |
| WIDEPOINT CORP | [WYY](https://holderbook.com/stocks/WYY/) | $5.2M | 299,162 | 3.6% | 3 |
| XPERI INC | [XPER](https://holderbook.com/stocks/XPER/) | $5.1M | 624,300 | 3.5% | 3 |
| INSPIRED ENTMT INC | [INSE](https://holderbook.com/stocks/INSE/) | $5.1M | 616,800 | 3.5% | 12 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $4.1M | 0 | 2.8% | 1 |
| DUOS TECHNOLOGIES GROUP INC | [DUOT](https://holderbook.com/stocks/DUOT/) | $3.8M | 313,300 | 2.6% | 3 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $3.7M | 0 | 2.5% | 1 |
| CLARUS CORP NEW | [CLAR](https://holderbook.com/stocks/CLAR/) | $3.6M | 1,131,000 | 2.4% | 8 |
| POWERFLEET INC | [AIOT](https://holderbook.com/stocks/AIOT/) | $3.5M | 912,000 | 2.4% | 12 |
| ALLOT LTD | [ALLT](https://holderbook.com/stocks/ALLT/) | $3.3M | 373,600 | 2.3% | 11 |
| GROUPON INC | [GRPN](https://holderbook.com/stocks/GRPN/) | $3.0M | 123,200 | 2.0% | 3 |
| LIONSGATE STUDIOS CORP | [LION](https://holderbook.com/stocks/LION/) | $2.6M | 169,000 | 1.8% | 3 |
| KVH INDS INC | [KVHI](https://holderbook.com/stocks/KVHI/) | $2.6M | 260,501 | 1.8% | 12 |
| FENNEC PHARMACEUTICALS INC | [FENC](https://holderbook.com/stocks/FENC/) | $2.4M | 224,400 | 1.6% | 3 |
| NEXTNAV INC | [NN](https://holderbook.com/stocks/NN/) | $2.1M | 78,950 | 1.4% | 3 |
| GAIN THERAPEUTICS INC | [GANX](https://holderbook.com/stocks/GANX/) | $1.9M | 946,400 | 1.3% | 3 |
| SCHMID GROUP N.V. | [SHMD](https://holderbook.com/stocks/SHMD/) | $1.8M | 288,200 | 1.2% | 1 |
| GPGI INC | [GPGI](https://holderbook.com/stocks/GPGI/) | $1.8M | 113,500 | 1.2% | 12 |
| COMPASS DIVERSIFIED | [CODI](https://holderbook.com/stocks/CODI/) | $1.8M | 165,000 | 1.2% | 2 |
| TECHPRECISION CORP | [TPCS](https://holderbook.com/stocks/TPCS/) | $1.5M | 279,396 | 1.0% | 6 |
| CADIZ INC | [CDZI](https://holderbook.com/stocks/CDZI/) | $1.5M | 350,000 | 1.0% | 3 |
| ACV AUCTIONS INC | [ACVA](https://holderbook.com/stocks/ACVA/) | $1.4M | 197,200 | 1.0% | 1 |
| ARLO TECHNOLOGIES INC | [ARLO](https://holderbook.com/stocks/ARLO/) | $1.3M | 100,000 | 0.9% | 2 |
| GSI TECHNOLOGY INC | [GSIT](https://holderbook.com/stocks/GSIT/) | $1.3M | 168,110 | 0.9% | 2 |
| INFORMATION SVCS GROUP INC | [III](https://holderbook.com/stocks/III/) | $1.2M | 291,800 | 0.8% | 12 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.1M | 20,000 | 0.8% | 12 |
| COSTAR GROUP INC | [CSGP](https://holderbook.com/stocks/CSGP/) | $1.1M | 40,000 | 0.8% | 2 |
| SERVICE PPTYS TR COM NEW | - | $1.1M | 647,000 | 0.7% | 1 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $1.0M | 10,800 | 0.7% | 3 |
| AMERICAN VANGUARD CORP | [AVD](https://holderbook.com/stocks/AVD/) | $1.0M | 358,780 | 0.7% | 3 |
| EVOLUS INC | [EOLS](https://holderbook.com/stocks/EOLS/) | $982.0K | 141,500 | 0.7% | 12 |
| GILAT SATELLITE NETWORKS LTD | [GILT](https://holderbook.com/stocks/GILT/) | $969.5K | 72,842 | 0.7% | 3 |
| BABCOCK & WILCOX ENTERPRISES | [BW](https://holderbook.com/stocks/BW/) | $902.4K | 64,000 | 0.6% | 12 |
| BARCLAYS BANK PLC | [VXX](https://holderbook.com/stocks/VXX/) | $890.2K | 40,300 | 0.6% | 1 |
| AVEPOINT INC | [AVPT](https://holderbook.com/stocks/AVPT/) | $846.4K | 75,500 | 0.6% | 1 |
| KOPIN CORP | [KOPN](https://holderbook.com/stocks/KOPN/) | $828.8K | 185,000 | 0.6% | 1 |
| PORCH GROUP INC | [PRCH](https://holderbook.com/stocks/PRCH/) | $752.0K | 50,000 | 0.5% | 2 |
| 5E ADVANCED MATERIALS INC | [FEAM](https://holderbook.com/stocks/FEAM/) | $703.8K | 506,300 | 0.5% | 3 |
| ISPIRE TECHNOLOGY INC | [ISPR](https://holderbook.com/stocks/ISPR/) | $670.4K | 598,600 | 0.5% | 1 |
| PRIORITY TECHNOLOGY HLDGS IN | [PRTH](https://holderbook.com/stocks/PRTH/) | $615.0K | 92,206 | 0.4% | 3 |
| CODEXIS INC | [CDXS](https://holderbook.com/stocks/CDXS/) | $587.6K | 260,000 | 0.4% | 3 |
| PURE CYCLE CORP | [PCYO](https://holderbook.com/stocks/PCYO/) | $522.2K | 48,756 | 0.4% | 12 |
| INTRUSION INC | [INTZ](https://holderbook.com/stocks/INTZ/) | $481.5K | 518,429 | 0.3% | 3 |
| XCEL BRANDS INC | [XELB](https://holderbook.com/stocks/XELB/) | $450.1K | 250,058 | 0.3% | 3 |
| OWLET INC | [OWLT](https://holderbook.com/stocks/OWLT/) | $444.4K | 77,420 | 0.3% | 3 |
| RIMINI STR INC DEL | [RMNI](https://holderbook.com/stocks/RMNI/) | $406.1K | 95,328 | 0.3% | 3 |
| FIVE POINT HOLDINGS LLC | [FPH](https://holderbook.com/stocks/FPH/) | $395.2K | 75,000 | 0.3% | 3 |
| BRILLIANT EARTH GROUP INC | [BRLT](https://holderbook.com/stocks/BRLT/) | $384.2K | 340,000 | 0.3% | 3 |
| SHOE STA GROUP INC | [SHOE](https://holderbook.com/stocks/SHOE/) | $278.8K | 18,800 | 0.2% | 3 |
| CPI CARD GROUP INC | [PMTS](https://holderbook.com/stocks/PMTS/) | $249.4K | 12,000 | 0.2% | 3 |
| UNIVERSAL TECHNICAL INST INC | [UTI](https://holderbook.com/stocks/UTI/) | $213.8K | 0 | 0.1% | 1 |
| UNISYS CORP | [UIS](https://holderbook.com/stocks/UIS/) | $183.0K | 50,000 | 0.1% | 7 |
| ADTRAN HOLDINGS INC | [ADTN](https://holderbook.com/stocks/ADTN/) | $139.0K | 10,000 | 0.1% | 2 |
| FIGS INC | [FIGS](https://holderbook.com/stocks/FIGS/) | $127.9K | 12,500 | 0.1% | 1 |
| RICHARDSON ELECTRS LTD | [RELL](https://holderbook.com/stocks/RELL/) | $95.0K | 5,000 | 0.1% | 1 |
| AVIAT NETWORKS INC | [AVNW](https://holderbook.com/stocks/AVNW/) | $79.9K | 3,600 | 0.1% | 3 |
| REE AUTOMOTIVE LTD | [REEAF](https://holderbook.com/stocks/REEAF/) | $77.9K | 397,585 | 0.1% | 3 |
| CONDUENT INC | [CNDT](https://holderbook.com/stocks/CNDT/) | $73.0K | 50,000 | 0.0% | 1 |
| MATTHEWS INTL CORP | [MATW](https://holderbook.com/stocks/MATW/) | $60.6K | 2,250 | 0.0% | 3 |
| SPROUT SOCIAL INC | [SPT](https://holderbook.com/stocks/SPT/) | $755 | 100 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +26.7% | +14.8% | +11.9% | 94% |
| Q1 2026 | -5.6% | -4.6% | -1.0% | 94% |
| Q1 2024 | +5.9% | +10.0% | -4.2% | 79% |
| Q4 2023 | +0.2% | +11.2% | -11.0% | 100% |
| Q3 2023 | -10.3% | -3.6% | -6.7% | 98% |
| Q2 2023 | -1.4% | +8.3% | -9.7% | 97% |
| Q1 2023 | +16.1% | +7.0% | +9.0% | 94% |
| Q4 2022 | +5.4% | +7.1% | -1.7% | 94% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $146.5M | 65 |
| Q1 2026 | $115.0M | 64 |
| Q4 2025 | $124.5M | 66 |
| Q4 2023 | $86.0M | 53 |
| Q3 2023 | $78.2M | 50 |
| Q2 2023 | $97.5M | 61 |
| Q1 2023 | $95.4M | 60 |
| Q4 2022 | $85.8M | 53 |
| Q3 2022 | $87.3M | 62 |
| Q2 2022 | $86.5M | 63 |
| Q1 2022 | $116.0M | 68 |
| Q4 2021 | $113.8M | 70 |