Potomac Capital Management, Inc. — Q4 2025 13F Holdings

Name: Potomac Capital Management, Inc. — 13F Holdings, Q4 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001418746

Total reported value

$115.0M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	ECHO	Echostar Corp-a	Stock-Comm Services	21.73%	-1.57%	—
2	INSE	Inspired Entertainment INC	Stock-Other	4.89%	-1.07%	+45.36%
3	DSP	Viant Technology Inc-a	Stock-Other	4.62%	+0.57%	+31.58%
4	LSAK	Lesaka Technologies INC	Stock-Other	3.83%	+1.09%	-34.62%
5	CNXX	Conx Corp-class A Shares	Stock-Other	3.52%	+1.23%	—
6	PESI	Perma-fix Environmental Svcs	Stock-Other	3.46%	-0.70%	+14.32%
7	ATEX	Anterix INC	Stock-Other	3.30%	+2.72%	—
8	XPER	Xperi INC	Stock-Other	3.25%	-0.23%	—
9	ALLT	Allot Ltd.	Stock-Other	2.80%	-0.64%	-64.08%
10	KVHI	Kvh Industries INC	Stock-Other	2.61%	+1.02%	-33.27%
11	GANX	Gain Therapeutics INC	Stock-Other	2.61%	-0.91%	—
12	CLAR	Clarus CORP	Stock-Other	2.61%	—	+123.62%
13	CNDT	Conduent INC	Stock-Other	2.54%	-2.54%	EXIT
14	DUOT	Duos Technologies Group INC	Stock-Other	2.48%	-0.55%	—
15	GRPN	Groupon INC	Stock-Other	2.11%	-0.50%	—
16	IWM	Ishares Russell 2000 ETF	ETF-Small Cap	1.98%	-1.98%	EXIT
17	GPGI	Gpgi INC	Stock-Other	1.81%	-0.12%	-24.52%
18	LION	Lionsgate Studios CORP	Stock-Other	1.65%	—	—
19	EFXT	Enerflex LTD	Stock-Other	1.59%	-1.59%	EXIT
20	CDZI	Cadiz INC	Stock-Other	1.51%	-0.08%	—
21	AVD	American Vanguard CORP	Stock-Other	1.41%	-0.06%	—
22	III	Information Services Group	Stock-Other	1.35%	-0.38%	+60.33%
23	BABA	Alibaba Group Holding-sp Adr	Stock-Consumer Disc	1.30%	-0.12%	—
24	XBI	Ss Spdr S&p Biotech ETF	ETF-Tech	1.27%	-1.27%	EXIT
25	PXLW	Pixelworks INC	Stock-Other	1.02%	-0.08%	—
26	TPCS	Techprecision CORP	Stock-Other	0.97%	-0.32%	+225.37%
27	GILT	Gilat Satellite Networks Ltd.	Stock-Other	0.95%	—	—
28	BAC	Bank Of America CORP	Stock-Financials	0.88%	—	-20.77%
29	AIOT	Powerfleet INC	Stock-Other	0.88%	+1.56%	+41.08%
30	WYY	Widepoint CORP	Stock-Other	0.84%	+0.34%	—
31	MX	Magnachip Semiconductor CORP	Stock-Other	0.79%	—	—
32	CXDO	Crexendo INC	Stock-Other	0.79%	—	—
33	DHC	Diversified Healthcare Trust	Stock-Other	0.78%	-0.43%	—
34	OWLT	Owlet INC	Stock-Other	0.75%	-0.43%	—
35	EOLS	Evolus INC	Stock-Other	0.75%	-0.24%	-8.83%
36	LULU	Lululemon Athletica INC	Stock-Consumer Disc	0.73%	-0.73%	EXIT
37	CMTL	Comtech Telecommunications	Stock-Other	0.68%	-0.68%	EXIT
38	IDAI	T Stamp Inc-class A	Stock-Other	0.61%	-0.28%	—
39	FENC	Fennec Pharmaceuticals INC	Stock-Other	0.59%	+0.61%	—
40	✓	Altisource Portfolio Solutio	Stock-Other	0.56%	-0.56%	EXIT
41	DDI	Doubledown Interactive -adr	Stock-Other	0.55%	—	—
42	INTZ	Intrusion INC	Stock-Other	0.44%	—	—
43	PRTH	Priority Technology Holdings	Stock-Other	0.43%	—	—
44	PCYO	Pure Cycle CORP	Stock-Other	0.43%	—	+4.20%
45	NN	Nextnav INC	Stock-Other	0.43%	+0.23%	—
46	LUNA	Luna Innovations INC	Stock-Other	0.43%	—	—
47	CDXS	Codexis INC	Stock-Other	0.39%	—	—
48	SSTI	Soundthinking INC	Stock-Other	0.39%	-0.39%	EXIT
49	XELB	Xcel Brands INC	Stock-Other	0.35%	+0.20%	—
50	BRLT	Brilliant Earth Group Inc-a	Stock-Other	0.34%	—	—

1–50 of 67

Holding changes this quarter

Position changes disclosed by Potomac Capital Management, Inc. for the quarter ending Q4 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ECHO	Echostar Corp-a	+19.4%	—	Add
2	LSAK	Lesaka Technologies INC	+1.7%	-34.62%	Add
3	UIS	Unisys CORP	-6.4%	+59.62%	Trim
4	✓	Numerex CORP - Cl A	—	EXIT	Sold out
5	INSE	Inspired Entertainment INC	—	NEW	New buy
6	DSP	Viant Technology Inc-a	—	NEW	New buy
7	EXTR	Extreme Networks INC	—	EXIT	Sold out
8	CNXX	Conx Corp-class A Shares	—	NEW	New buy
9	PESI	Perma-fix Environmental Svcs	—	NEW	New buy
10	ATEX	Anterix INC	—	NEW	New buy
11	XPER	Xperi INC	—	NEW	New buy
12	ALLT	Allot Ltd.	—	NEW	New buy
13	BDTX	Black Diamond Therapeutics, Inc.	—	EXIT	Sold out
14	WIFI	Boingo Wireless INC	—	EXIT	Sold out
15	RDS	Radisys CORP	—	EXIT	Sold out
16	KVHI	Kvh Industries INC	—	NEW	New buy
17	GANX	Gain Therapeutics INC	—	NEW	New buy
18	CLAR	Clarus CORP	—	NEW	New buy
19	CNDT	Conduent INC	—	NEW	New buy
20	DUOT	Duos Technologies Group INC	—	NEW	New buy
21	✓	Demand Media Inc	—	EXIT	Sold out
22	GRPN	Groupon INC	—	NEW	New buy
23	IWM	Ishares Russell 2000 ETF	—	NEW	New buy
24	KEMUSD	Kemet CORP	—	EXIT	Sold out
25	GPGI	Gpgi INC	—	NEW	New buy
26	✓	Telecommunication Sys INC	—	EXIT	Sold out
27	LION	Lionsgate Studios CORP	—	NEW	New buy
28	EFXT	Enerflex LTD	—	NEW	New buy
29	CDZI	Cadiz INC	—	NEW	New buy
30	✓	Intersections INC	—	EXIT	Sold out
31	✓	Rightside Group LTD	—	EXIT	Sold out
32	AVD	American Vanguard CORP	—	NEW	New buy
33	✓		—	EXIT	Sold out
34	✓	Reald INC	—	EXIT	Sold out
35	III	Information Services Group	—	NEW	New buy
36	✓	Maxwell Technologies INC	—	EXIT	Sold out
37	BABA	Alibaba Group Holding-sp Adr	—	NEW	New buy
38	TNA	Dir Dai Sml Ca Bul 3x Et-usd	—	EXIT	Sold out
39	XBI	Ss Spdr S&p Biotech ETF	—	NEW	New buy
40	CRTNUSD	Cartesian INC	—	EXIT	Sold out
41	MXL	Maxlinear INC	—	EXIT	Sold out
42	✓	Global Ship Lease INC New	—	EXIT	Sold out
43	FALCUSD	Falconstor Software INC	—	EXIT	Sold out
44	✓	Fx Energy INC	—	EXIT	Sold out
45	INWKEUR	Innerworkings INC	—	EXIT	Sold out
46	PXLW	Pixelworks INC	—	NEW	New buy
47	✓	IZEA Inc. (Restricted)	—	EXIT	Sold out
48	MRVL	Marvell Technology, Inc.	—	EXIT	Sold out
49	✓	Sciquest INC New	—	EXIT	Sold out
50	TPCS	Techprecision CORP	—	NEW	New buy