13F HOLDINGS REPORT

POTOMAC FUND MANAGEMENT INC /ADV

Quarter ended Q3 2025 · Filed November 12, 2025 · Accession 0000826000-25-000012

Total Value

$2.36B

Positions

103

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (103)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	iShares 0-3 Month Treasury Bond ETF	46436E718	9,354,069	$942.0M	39.88%
2	Bondbloxx Bloomberg Six Month Target Duration US Treasury ETF	09789C788	8,890,859	$448.3M	18.98%
3	Direxion Daily S&P 500 3X Bull Shares ETF	25459W862	1,105,270	$234.2M	9.92%
4	ProShares UltraPro S&P 500	74347X864	2,095,597	$233.6M	9.89%
5	NORTHERN LTS FD TR IV	NTRSO	797,099	$50.2M	2.13%
6	BondBloxx CCC Rated USD High Yield Corporate Bond ETF	09789C887	1,112,025	$43.6M	1.85%
7	SPDR Bloomberg Convertible Securities ETF	78464A359	470,038	$42.5M	1.80%
8	BondBloxx BB Rated USD High Yield Corporate Bond ETF	09789C705	1,004,960	$41.6M	1.76%
9	IMGP DBI Managed Futures Strategy ETF	53700T827	821,763	$22.4M	0.95%
10	iShares iBoxx High Yield Corporate Bond ETF	464288513	275,943	$22.4M	0.95%
11	The iShares U.S. Fallen Angels USD Bond ETF	46435G474	805,526	$22.4M	0.95%
12	Vanguard Total Stock Market ETF	922908769	60,742	$19.9M	0.84%
13	WisdomTree U.S. Quality Dividend Growth Fund	WT	222,766	$19.8M	0.84%
14	SPDR Bloomberg Barclays High Yield Bond ETF	78468R622	201,975	$19.8M	0.84%
15	WisdomTree Japan Hedged Equity Fund	WT	153,686	$19.7M	0.83%
16	The Global X Silvers Miners ETF	37954Y848	175,358	$12.6M	0.53%
17	ARK Innovation ETF	00214Q104	144,891	$12.5M	0.53%
18	SPDR S&P Metals & Mining ETF	78464A755	132,123	$12.3M	0.52%
19	iShares U.S. Aerospace & Defense ETF	464288760	58,686	$12.3M	0.52%
20	VanEck Vectors Semiconductor ETF	92189F676	37,627	$12.3M	0.52%
21	Global X SuperDividend ETF	37960A669	504,970	$12.1M	0.51%
22	iShares Latin America 40 ETF	464287390	416,975	$12.0M	0.51%
23	NORTHERN LTS FD TR IV	NTRSO	549,923	$7.8M	0.33%
24	ADVISORS INNER CIRCLE FD II	00791R814	168,319	$4.7M	0.20%
25	ADVISORS INNER CIRCLE FD II	00791R822	138,942	$4.0M	0.17%
26	MICROSOFT CORP	MSFT	5,926	$3.1M	0.13%
27	SPDR SERIES TRUST	78464A854	37,732	$3.0M	0.13%
28	NORTHERN LTS FD TR IV	NTRSO	105,174	$2.8M	0.12%
29	JPMORGAN CHASE & CO.	VYLD	7,691	$2.4M	0.10%
30	ABBOTT LABS	ABLZF	17,691	$2.4M	0.10%
31	L3HARRIS TECHNOLOGIES INC	LHX	7,729	$2.4M	0.10%
32	WELLS FARGO CO NEW	949746101	26,939	$2.3M	0.10%
33	GILEAD SCIENCES INC	GILD	18,939	$2.1M	0.09%
34	ADVISORS INNER CIRCLE FD II	00791R830	81,110	$2.0M	0.09%
35	HOME DEPOT INC	HD	4,900	$2.0M	0.08%
36	SHELL PLC	RYDAF	27,145	$1.9M	0.08%
37	MCDONALDS CORP	MCD	6,162	$1.9M	0.08%
38	DUPONT DE NEMOURS INC	DD	23,787	$1.9M	0.08%
39	HONEYWELL INTL INC	438516106	8,517	$1.8M	0.08%
40	GALLAGHER ARTHUR J & CO	363576109	5,527	$1.7M	0.07%
41	PROCTER AND GAMBLE CO	742718109	11,057	$1.7M	0.07%
42	ASTRAZENECA PLC	AZN	21,523	$1.7M	0.07%
43	ADVISORS INNER CIRCLE FD II	00791R798	55,788	$1.6M	0.07%
44	BANK AMERICA CORP	060505104	29,898	$1.5M	0.07%
45	ACCENTURE PLC IRELAND	ACN	6,082	$1.5M	0.06%
46	COMCAST CORP NEW	CCZ	47,167	$1.5M	0.06%
47	PNC FINL SVCS GROUP INC	693475105	7,015	$1.4M	0.06%
48	US BANCORP DEL	USB-PS	29,069	$1.4M	0.06%
49	ANALOG DEVICES INC	ADI	5,593	$1.4M	0.06%
50	ISHARES TR	464287200	1,902	$1.3M	0.05%
51	NOVO-NORDISK A S	NONOF	19,477	$1.1M	0.05%
52	EQUINIX INC	EQIX	1,374	$1.1M	0.05%
53	PEPSICO INC	PEP	7,514	$1.1M	0.04%
54	CONOCOPHILLIPS	COP	11,151	$1.1M	0.04%
55	UNITED PARCEL SERVICE INC	UPS	11,234	$938,397	0.04%
56	VANGUARD TAX-MANAGED FDS	921943858	14,251	$853,894	0.04%
57	ISHARES TR	464287226	8,316	$833,714	0.04%
58	AMAZON COM INC	AMZN	3,732	$819,435	0.03%
59	MICROCHIP TECHNOLOGY INC.	MCHPP	12,681	$814,351	0.03%
60	ORACLE CORP	ORCL-PD	2,844	$799,712	0.03%
61	JOHNSON & JOHNSON	JNJ	4,082	$756,816	0.03%
62	RTX CORPORATION	RTX	4,438	$742,628	0.03%
63	CHEVRON CORP NEW	CVX	4,687	$727,793	0.03%
64	VANGUARD INDEX FDS	922908736	1,504	$721,503	0.03%
65	WASTE MGMT INC DEL	94106L109	3,199	$706,435	0.03%
66	ISHARES TR	46434V860	13,212	$668,393	0.03%
67	ISHARES TR	46429B747	6,447	$666,411	0.03%
68	SEMPRA	SREA	7,092	$638,096	0.03%
69	EVERGY INC	EVRG	8,010	$608,954	0.03%
70	VANGUARD INDEX FDS	922908744	3,044	$567,618	0.02%
71	NVIDIA CORPORATION	NVDA	2,885	$538,302	0.02%
72	ISHARES TR	464287457	6,445	$534,698	0.02%
73	BROADCOM INC	AVGO	1,568	$517,151	0.02%
74	MASTERCARD INCORPORATED	MA	887	$504,365	0.02%
75	VANGUARD SCOTTSDALE FDS	92206C771	10,718	$503,340	0.02%
76	SHOPIFY INC	SHOP	3,377	$501,856	0.02%
77	DIAGEO PLC	DGEAF	5,046	$481,563	0.02%
78	ISHARES GOLD TR	IAU	6,576	$478,536	0.02%
79	VISA INC	V	1,387	$473,604	0.02%
80	VANGUARD CHARLOTTE FDS	92203J407	9,360	$462,956	0.02%
81	DBX ETF TR	233051143	7,566	$454,210	0.02%
82	VANGUARD BD INDEX FDS	921937827	5,601	$441,961	0.02%
83	ISHARES TR	46435U549	8,548	$410,560	0.02%
84	EASTMAN CHEM CO	EMN	6,483	$408,736	0.02%
85	ELI LILLY & CO	LLY	519	$395,987	0.02%
86	ALPHABET INC	GOOG	1,555	$378,797	0.02%
87	ZOETIS INC	ZTS	2,480	$362,858	0.02%
88	ISHARES TR	464288661	2,960	$353,751	0.01%
89	VANGUARD INTL EQUITY INDEX F	922042858	6,380	$345,682	0.01%
90	ISHARES TR	464287804	2,892	$343,622	0.01%
91	SERVICENOW INC	NOW	358	$329,460	0.01%
92	ISHARES TR	464287507	4,727	$308,464	0.01%
93	MSCI INC	MSCI	515	$292,447	0.01%
94	SELECT SECTOR SPDR TR	81369Y209	2,084	$290,056	0.01%
95	AON PLC	AON	731	$260,552	0.01%
96	IDEXX LABS INC	45168D104	404	$258,112	0.01%
97	STARBUCKS CORP	SBUX	2,896	$245,039	0.01%
98	SPDR SERIES TRUST	78464A375	6,689	$226,675	0.01%
99	SELECT SECTOR SPDR TR	81369Y605	4,126	$222,241	0.01%
100	VANGUARD BD INDEX FDS	921937819	2,676	$208,936	0.01%
101	VANGUARD BD INDEX FDS	921937793	2,937	$208,086	0.01%
102	ADOBE INC	ADBE	581	$204,948	0.01%
103	SYNOPSYS INC	SNPS	415	$204,757	0.01%