POTOMAC FUND MANAGEMENT INC /ADV Q3 2025 Filing

Filed November 12, 2025

Portfolio Value

$2.4B

Holdings

103

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (103 positions)

#	Stock	Shares	Value	% Portfolio
1	SGOViShares 0-3 Month Treasury Bond ETF	9,354,069	$942.0M	39.88%
2	XHLFBondbloxx Bloomberg Six Month Target Duration US Treasury ETF	8,890,859	$448.3M	18.98%
3	SPXLDirexion Daily S&P 500 3X Bull Shares ETF	1,105,270	$234.2M	9.92%
4	UPROProShares UltraPro S&P 500	2,095,597	$233.6M	9.89%
5	SECTNORTHERN LTS FD TR IV	797,099	$50.2M	2.13%
6	XCCCBondBloxx CCC Rated USD High Yield Corporate Bond ETF	1,112,025	$43.6M	1.85%
7	CWBSPDR Bloomberg Convertible Securities ETF	470,038	$42.5M	1.80%
8	XBBBondBloxx BB Rated USD High Yield Corporate Bond ETF	1,004,960	$41.6M	1.76%
9	DBMFIMGP DBI Managed Futures Strategy ETF	821,763	$22.4M	0.95%
10	HYGiShares iBoxx High Yield Corporate Bond ETF	275,943	$22.4M	0.95%
11	FALNThe iShares U.S. Fallen Angels USD Bond ETF	805,526	$22.4M	0.95%
12	VTIVanguard Total Stock Market ETF	60,742	$19.9M	0.84%
13	DGRWWisdomTree U.S. Quality Dividend Growth Fund	222,766	$19.8M	0.84%
14	JNKSPDR Bloomberg Barclays High Yield Bond ETF	201,975	$19.8M	0.84%
15	DXJWisdomTree Japan Hedged Equity Fund	153,686	$19.7M	0.83%
16	SILThe Global X Silvers Miners ETF	175,358	$12.6M	0.53%
17	ARKKARK Innovation ETF	144,891	$12.5M	0.53%
18	XMESPDR S&P Metals & Mining ETF	132,123	$12.3M	0.52%
19	ITA*iShares U.S. Aerospace & Defense ETF	58,686	$12.3M	0.52%
20	SMHVanEck Vectors Semiconductor ETF	37,627	$12.3M	0.52%
21	SDIVGlobal X SuperDividend ETF	504,970	$12.1M	0.51%
22	ILFiShares Latin America 40 ETF	416,975	$12.0M	0.51%
23	BUYWNORTHERN LTS FD TR IV	549,923	$7.8M	0.33%
24	EDGIADVISORS INNER CIRCLE FD II	168,319	$4.7M	0.20%
25	EDGHADVISORS INNER CIRCLE FD II	138,942	$4.0M	0.17%
26	MSFTMICROSOFT CORP	5,926	$3.1M	0.13%
27	SPYMSPDR SERIES TRUST	37,732	$3.0M	0.13%
28	TMATNORTHERN LTS FD TR IV	105,174	$2.8M	0.12%
29	JPMJPMORGAN CHASE & CO.	7,691	$2.4M	0.10%
30	ABTABBOTT LABS	17,691	$2.4M	0.10%
31	LHXL3HARRIS TECHNOLOGIES INC	7,729	$2.4M	0.10%
32	WFCWELLS FARGO CO NEW	26,939	$2.3M	0.10%
33	GILDGILEAD SCIENCES INC	18,939	$2.1M	0.09%
34	EDGFADVISORS INNER CIRCLE FD II	81,110	$2.0M	0.09%
35	HDHOME DEPOT INC	4,900	$2.0M	0.08%
36	SHELSHELL PLC	27,145	$1.9M	0.08%
37	MCDMCDONALDS CORP	6,162	$1.9M	0.08%
38	DDDUPONT DE NEMOURS INC	23,787	$1.9M	0.08%
39	HONHONEYWELL INTL INC	8,517	$1.8M	0.08%
40	AJGGALLAGHER ARTHUR J & CO	5,527	$1.7M	0.07%
41	PGPROCTER AND GAMBLE CO	11,057	$1.7M	0.07%
42	AZNASTRAZENECA PLC	21,523	$1.7M	0.07%
43	EDGUADVISORS INNER CIRCLE FD II	55,788	$1.6M	0.07%
44	BACBANK AMERICA CORP	29,898	$1.5M	0.07%
45	ACNACCENTURE PLC IRELAND	6,082	$1.5M	0.06%
46	CMCSACOMCAST CORP NEW	47,167	$1.5M	0.06%
47	PNCPNC FINL SVCS GROUP INC	7,015	$1.4M	0.06%
48	USBUS BANCORP DEL	29,069	$1.4M	0.06%
49	ADIANALOG DEVICES INC	5,593	$1.4M	0.06%
50	IVVISHARES TR	1,902	$1.3M	0.05%
51	NVONOVO-NORDISK A S	19,477	$1.1M	0.05%
52	EQIXEQUINIX INC	1,374	$1.1M	0.05%
53	PEPPEPSICO INC	7,514	$1.1M	0.04%
54	COPCONOCOPHILLIPS	11,151	$1.1M	0.04%
55	UPSUNITED PARCEL SERVICE INC	11,234	$938K	0.04%
56	VEAVANGUARD TAX-MANAGED FDS	14,251	$854K	0.04%
57	AGGISHARES TR	8,316	$834K	0.04%
58	AMZNAMAZON COM INC	3,732	$819K	0.03%
59	MCHPMICROCHIP TECHNOLOGY INC.	12,681	$814K	0.03%
60	ORCLORACLE CORP	2,844	$800K	0.03%
61	JNJJOHNSON & JOHNSON	4,082	$757K	0.03%
62	RTXRTX CORPORATION	4,438	$743K	0.03%
63	CVXCHEVRON CORP NEW	4,687	$728K	0.03%
64	VUGVANGUARD INDEX FDS	1,504	$722K	0.03%
65	WMWASTE MGMT INC DEL	3,199	$706K	0.03%
66	TFLOISHARES TR	13,212	$668K	0.03%
67	STIPISHARES TR	6,447	$666K	0.03%
68	SRESEMPRA	7,092	$638K	0.03%
69	EVRGEVERGY INC	8,010	$609K	0.03%
70	VTVVANGUARD INDEX FDS	3,044	$568K	0.02%
71	NVDANVIDIA CORPORATION	2,885	$538K	0.02%
72	SHYISHARES TR	6,445	$535K	0.02%
73	AVGOBROADCOM INC	1,568	$517K	0.02%
74	MAMASTERCARD INCORPORATED	887	$504K	0.02%
75	VMBSVANGUARD SCOTTSDALE FDS	10,718	$503K	0.02%
76	SHOPSHOPIFY INC	3,377	$502K	0.02%
77	DEODIAGEO PLC	5,046	$482K	0.02%
78	IAU*ISHARES GOLD TR	6,576	$479K	0.02%
79	VVISA INC	1,387	$474K	0.02%
80	BNDXVANGUARD CHARLOTTE FDS	9,360	$463K	0.02%
81	SNPEDBX ETF TR	7,566	$454K	0.02%
82	BSVVANGUARD BD INDEX FDS	5,601	$442K	0.02%
83	EAGGISHARES TR	8,548	$411K	0.02%
84	EMNEASTMAN CHEM CO	6,483	$409K	0.02%
85	LLYELI LILLY & CO	519	$396K	0.02%
86	GOOGALPHABET INC	1,555	$379K	0.02%
87	ZTSZOETIS INC	2,480	$363K	0.02%
88	IEIISHARES TR	2,960	$354K	0.01%
89	VWOVANGUARD INTL EQUITY INDEX F	6,380	$346K	0.01%
90	IJRISHARES TR	2,892	$344K	0.01%
91	NOWSERVICENOW INC	358	$329K	0.01%
92	IJHISHARES TR	4,727	$308K	0.01%
93	MSCIMSCI INC	515	$292K	0.01%
94	XLVSELECT SECTOR SPDR TR	2,084	$290K	0.01%
95	AONAON PLC	731	$261K	0.01%
96	IDXXIDEXX LABS INC	404	$258K	0.01%
97	SBUXSTARBUCKS CORP	2,896	$245K	0.01%
98	SPIBSPDR SERIES TRUST	6,689	$227K	0.01%
99	XLFSELECT SECTOR SPDR TR	4,126	$222K	0.01%
100	BIVVANGUARD BD INDEX FDS	2,676	$209K	0.01%

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