Q4 2025 · 13F-HR
Potomac Capital Management, Inc.holdings as filed
Filed 2026-02-11 · accession 0001418746-26-000001
$124.5M
Reported value
73
Positions
2025-12-31
Period end
The Brief · Potomac Capital Management, Inc. · Q4 2025
AI · grounded in 13F
Potomac Capital Management, Inc. established a new position in SATS valued at $27.1M. The fund also opened new stakes in CNXX for $4.4M and ATEX for $4.1M. On the sell side, the manager closed its position in CNXXW, reducing exposure by $14.8M. Other exited positions include ISHARES TR and DISH.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 278768106 | SATS | ECHOSTAR HOLDING CORP-A | $27.1M | 21.7% | 248,900 | Common | SOLE |
| 45782N108 | INSE | INSPIRED ENTERTAINMENT INC | $6.1M | 4.89% | 650,500 | Common | SOLE |
| 92557A101 | DSP | VIANT TECHNOLOGY INC-A | $5.3M | 4.26% | 440,750 | Common | SOLE |
| 64107N206 | LSAK | LESAKA TECHNOLOGIES INC | $4.8M | 3.83% | 999,116 | Common | SOLE |
| 212873103 | CNXX | CONX CORP | $4.4M | 3.52% | 1,196,710 | Common | SOLE |
| 714157203 | PESI | PERMA-FIX ENVIRONMENTAL SVCS | $4.3M | 3.46% | 341,800 | Common | SOLE |
| 03676C100 | ATEX | ANTERIX INC | $3.5M | 2.83% | 161,400 | Common | SOLE |
| 98423J101 | XPER | XPERI INC-W/I | $3.5M | 2.82% | 600,000 | Common | SOLE |
| M0854Q105 | ALLT | ALLOT COMMUNICATIONS LTD | $3.5M | 2.80% | 354,288 | Common | SOLE |
| 482738101 | KVHI | KVH INDUSTRIES INC | $3.3M | 2.61% | 466,600 | Common | SOLE |
| 36269B105 | GANX | GAIN THERAPEUTICS INC | $3.3M | 2.61% | 1,010,000 | Common | SOLE |
| 18270P109 | CLAR | CLARUS CORPORATION | $3.2M | 2.61% | 968,500 | Common | SOLE |
| 266042407 | DUOT | DUOS TECHNOLOGIES GROUP INC | $3.1M | 2.48% | 274,235 | Common | SOLE |
| 206787103 | CNDT | CONDUENT INC | $3.0M | 2.38% | 1,545,619 | Common | SOLE |
| 399473206 | GRPN | GROUPON INC | $2.6M | 2.11% | 149,500 | Common | SOLE |
| 464287655 | IWM | ISHARES RUSSELL 2000 | $2.5M | 1.98% | 10,000 | PUT | SOLE |
| 20459V105 | GPGI | COMPOSECURE INC | $2.3M | 1.81% | 117,000 | Common | SOLE |
| 53626N102 | LION | LIONSGATE STUDIOS HOLDING CO | $2.1M | 1.65% | 225,000 | Common | SOLE |
| 29269R105 | EFXT | ENERFLEX LTD | $2.0M | 1.59% | 128,400 | Common | SOLE |
| 127537207 | CDZI | CADIZ INC | $1.9M | 1.51% | 335,000 | Common | SOLE |
| 030371108 | AVD | AMERICAN VANGUARD CORP | $1.8M | 1.41% | 458,300 | Common | SOLE |
| 45675Y104 | III | INFORMATION SERVICES GROUP | $1.7M | 1.35% | 291,800 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HOLDING LTD | $1.6M | 1.30% | 11,000 | Common | SOLE |
| 72581M404 | PXLW | PIXELWORKS INC | $1.3M | 1.02% | 200,000 | Common | SOLE |
| 878739200 | TPCS | TECHPRECISION CORP | $1.2M | 0.97% | 249,561 | Common | SOLE |
| M51474118 | GILT | GILAT SATELLITE NETWORKS LTD | $1.2M | 0.95% | 91,200 | Common | SOLE |
| 060505104 | BAC | BANK OF AMERICA CORP | $1.1M | 0.88% | 20,000 | Common | SOLE |
| 73931J109 | AIOT | POWERFLEET INC | $1.1M | 0.88% | 206,000 | Common | SOLE |
| 967590209 | WYY | WIDEPOINT CORP | $1.1M | 0.84% | 195,670 | Common | SOLE |
| 55933J203 | MX | MAGNACHIP SEMICONDUCT-DEP SH | $986,595 | 0.79% | 386,900 | Common | SOLE |
| 226552107 | CXDO | CREXENDO INC | $985,381 | 0.79% | 152,300 | Common | SOLE |
| 78464A870 | XBI | SPDR S&P BIOTECH ETF | $975,440 | 0.78% | 8,000 | Common | SOLE |
| 25525P107 | DHC | DIVERSIFIED HEALTHCARE TRUST | $970,000 | 0.78% | 200,000 | Common | SOLE |
| 69120X206 | OWLT | OWLET INC | $938,971 | 0.75% | 57,997 | Common | SOLE |
| 30052C107 | EOLS | EVOLUS INC | $938,794 | 0.75% | 141,172 | Common | SOLE |
| 550021109 | LULU | LULULEMON ATHLETICA INC | $914,364 | 0.73% | 4,400 | Common | SOLE |
| 205826209 | CMTL | COMTECH TELECOMMUNICATIONS | $851,224 | 0.68% | 160,912 | Common | SOLE |
| 873048508 | IDAI | T STAMP INC-CLASS A | $753,692 | 0.61% | 192,760 | Common | SOLE |
| 31447P100 | FENC | FENNEC PHARMACEUTICALS INC | $732,270 | 0.59% | 95,100 | Common | SOLE |
| L0175J138 | ASPS | ALTISOURCE PORTFOLIO SOL | $700,123 | 0.56% | 100,737 | Common | SOLE |
| 25862B109 | DDI | DOUBLEDOWN INTERACTIVE -ADR | $682,633 | 0.55% | 79,100 | Common | SOLE |
| 78464A870 | XBI | SPDR S&P BIOTECH ETF | $609,650 | 0.49% | 5,000 | PUT | SOLE |
| 03676C100 | ATEX | ANTERIX INC | $578,495 | 0.46% | 26,500 | CALL | SOLE |
| 46121E304 | INTZ | INTRUSION INC | $544,008 | 0.44% | 473,050 | Common | SOLE |
| 74275G107 | PRTH | PRIORITY TECHNOLOGY HOLDINGS | $539,212 | 0.43% | 98,938 | Common | SOLE |
| 746228303 | PCYO | PURE CYCLE CORP | $535,828 | 0.43% | 48,756 | Common | SOLE |
| 550351100 | LUNA | LUNA INNOVATIONS INC | $531,036 | 0.43% | 461,770 | Common | SOLE |
| 98423J101 | XPER | XPERI INC-W/I | $527,400 | 0.42% | 90,000 | CALL | SOLE |
| 192005106 | CDXS | CODEXIS INC | $489,000 | 0.39% | 300,000 | Common | SOLE |
| 82536T107 | SSTI | SHOTSPOTTER INC | $485,012 | 0.39% | 60,400 | Common | SOLE |
| 92557A101 | DSP | VIANT TECHNOLOGY INC-A | $445,480 | 0.36% | 37,000 | CALL | SOLE |
| 98400M200 | XELB | XCEL BRANDS INC | $441,072 | 0.35% | 408,400 | Common | SOLE |
| 109504100 | BRLT | BRILLIANT EARTH GROUP INC-A | $421,750 | 0.34% | 241,000 | Common | SOLE |
| 05614L209 | BW | BABCOCK & WILCOX ENTERPR | $405,760 | 0.33% | 64,000 | Common | SOLE |
| 81761L102 | SVC | SERVICE PROPERTIES TRUST | $384,560 | 0.31% | 209,000 | Common | SOLE |
| 06748M196 | VXX | IPATH SERIES B S&P 500 VIX | $370,580 | 0.30% | 14,000 | Common | SOLE |
| 65345N106 | NN | NEXTNAV INC | $366,080 | 0.29% | 22,000 | Common | SOLE |
| 01877R108 | ARLP | ALLIANCE RESOURCE PARTNERS | $348,450 | 0.28% | 15,000 | Common | SOLE |
| 12634H200 | PMTS | CPI CARD GROUP INC | $336,994 | 0.27% | 22,956 | Common | SOLE |
| 76674Q107 | RMNI | RIMINI STREET INC | $325,660 | 0.26% | 83,933 | Common | SOLE |
| M8287R202 | REE | REE AUTOMOTIVE LTD - CLASS A | $299,823 | 0.24% | 408,200 | Common | SOLE |
| 909214306 | UIS | UNISYS CORP | $264,325 | 0.21% | 95,770 | Common | SOLE |
| 824889109 | SCVL | SHOE CARNIVAL INC | $262,855 | 0.21% | 15,572 | Common | SOLE |
| 33833Q106 | FPH | FIVE POINT HOLDINGS LLC-CL A | $247,497 | 0.20% | 44,275 | Common | SOLE |
| 206787103 | CNDT | CONDUENT INC | $193,920 | 0.16% | 101,000 | PUT | SOLE |
| 33830Q208 | FEAM | 5E ADVANCED MATERIALS INC | $186,401 | 0.15% | 61,115 | Common | SOLE |
| 65345N106 | NN | NEXTNAV INC | $168,064 | 0.14% | 10,100 | CALL | SOLE |
| 83548F408 | SONM | SONIM TECHNOLOGIES INC | $151,200 | 0.12% | 48,000 | Common | SOLE |
| 577128101 | MATW | MATTHEWS INTL CORP | $58,770 | 0.05% | 2,250 | Common | SOLE |
| 05366Y201 | AVNW | AVIAT NETWORKS INC | $42,760 | 0.03% | 2,000 | Common | SOLE |
| 88675P103 | TYGO | TIGO ENERGY INC | $38,474 | 0.03% | 27,880 | Common | SOLE |
| 606710200 | MITK | MITEK SYSTEMS INC | $10,550 | 0.01% | 1,000 | Common | SOLE |
| 82988R203 | STTO | SINGLE TOUCH SYSTEMS INC | $0 | — | 585,576 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.