# EDGAR Filing Document

**Accession Number:** 0000826000
**File Stem:** 0000826000-25-000010
**Filing Date:** 2025-10
**Character Count:** 13550
**Document Hash:** c1d6420cd1cbe428337d91b01a4667ab
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000826000-25-000010.hdr.sgml**: 20251002

**ACCESSION NUMBER**: 0000826000-25-000010

**CONFORMED SUBMISSION TYPE**: 13F-HR/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20251002

**DATE AS OF CHANGE**: 20251002

**EFFECTIVENESS DATE**: 20251002

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** POTOMAC FUND MANAGEMENT INC /ADV
- **CENTRAL INDEX KEY:** 0000826000

**ORGANIZATION NAME:**
- **EIN:** 521542454
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24973
- **FILM NUMBER:** 251367902

**BUSINESS ADDRESS:**
- **STREET 1:** 7373 WISCONSIN AVE.
- **STREET 2:** SUITE 750
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 3014503090

**MAIL ADDRESS:**
- **STREET 1:** 7373 WISCONSIN AVE.
- **STREET 2:** SUITE 750
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** POTOMAC FUND MANAGEMENT INC                             /ADV
- **DATE OF NAME CHANGE:** 19871207

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [x] **Amendment Number:** 1

**This Amendment (Check only one.):** [x] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** POTOMAC FUND MANAGEMENT INC /ADV<br>**Address:** 7373 WISCONSIN AVE.<br>SUITE 750<br>BETHESDA, MD 20814

**Form 13F File Number:** 028-24973

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jeffrey Schropp<br>**Title:** Chief Compliance Officer<br>**Phone:** 3014503090

**Signature, Place, and Date of Signing:**

Jeffrey Schropp  Bethesda, MD  10-02-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 97

**Form 13F Information Table Value Total:** $1749834845

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| BONDBLOXX ETF TRUST | BLOOMBERG SIX MN | 09789C788 |  | 217199682 | 4314654 | SH |  | SOLE |  | 4314654 | 0 | 0 |
| DIREXION SHS ETF TR | DRX S | 25459W862 |  | 291385850 | 1679167 | SH |  | SOLE |  | 1679167 | 0 | 0 |
| PROSHARES TR | ULTRPRO S | 74347X864 |  | 291330766 | 3186032 | SH |  | SOLE |  | 3186032 | 0 | 0 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 605176604 | 6010295 | SH |  | SOLE |  | 6010295 | 0 | 0 |
| ISHARES TR | FALN ANGLS USD | 46435G474 |  | 19595406 | 722012 | SH |  | SOLE |  | 722012 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | DJ INTERNT IDX | 33733E302 |  | 10210570 | 37911 | SH |  | SOLE |  | 37911 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 16651561 | 205651 | SH |  | SOLE |  | 205651 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 16818944 | 230966 | SH |  | SOLE |  | 230966 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG HIGH Y | 78468R622 |  | 16988011 | 174648 | SH |  | SOLE |  | 174648 | 0 | 0 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 16780435 | 146849 | SH |  | SOLE |  | 146849 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 17214595 | 56640 | SH |  | SOLE |  | 56640 | 0 | 0 |
| ISHARES TR | US BR DEL SE ETF | 464288794 |  | 10167682 | 60114 | SH |  | SOLE |  | 60114 | 0 | 0 |
| ISHARES TR | GLB INFRASTR ETF | 464288372 |  | 10046062 | 169697 | SH |  | SOLE |  | 169697 | 0 | 0 |
| ISHARES TR | EAFE GRWTH ETF | 464288885 |  | 10120432 | 90361 | SH |  | SOLE |  | 90361 | 0 | 0 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 10041393 | 158182 | SH |  | SOLE |  | 158182 | 0 | 0 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 10240511 | 54286 | SH |  | SOLE |  | 54286 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 19242916 | 207762 | SH |  | SOLE |  | 207762 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 19225347 | 238380 | SH |  | SOLE |  | 238380 | 0 | 0 |
| AMPLIFY ETF TR | AMPLIFY JUNIOR S | 032108649 |  | 10079022 | 681015 | SH |  | SOLE |  | 681015 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 2363768 | 17943 | SH |  | SOLE |  | 229 | 0 | 17714 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 1627788 | 5820 | SH |  | SOLE |  | 65 | 0 | 5755 |
| ADOBE INC | COM | 00724F101 |  | 241301 | 667 | SH |  | SOLE |  | 0 | 0 | 667 |
| ADVISORS INNER CIRCLE FD II | 3EDGE DYNAMIC FI | 00791R830 |  | 899541 | 36404 | SH |  | SOLE |  | 0 | 0 | 36404 |
| ADVISORS INNER CIRCLE FD II | 3EDGE DYNAMIC HA | 00791R822 |  | 2414055 | 91131 | SH |  | SOLE |  | 0 | 0 | 91131 |
| ADVISORS INNER CIRCLE FD II | 3EDGE DYNAMIC IN | 00791R814 |  | 3374229 | 130430 | SH |  | SOLE |  | 0 | 0 | 130430 |
| ADVISORS INNER CIRCLE FD II | 3EDGE DYNAMIC US | 00791R798 |  | 1434460 | 54866 | SH |  | SOLE |  | 0 | 0 | 54866 |
| AIRBNB INC | COM CL A | 009066101 |  | 223658 | 1636 | SH |  | SOLE |  | 0 | 0 | 1636 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 293520 | 1597 | SH |  | SOLE |  | 0 | 0 | 1597 |
| AMAZON COM INC | COM | 023135106 |  | 696130 | 3119 | SH |  | SOLE |  | 0 | 0 | 3119 |
| AMGEN INC | COM | 031162100 |  | 633317 | 2118 | SH |  | SOLE |  | 37 | 0 | 2081 |
| ANALOG DEVICES INC | COM | 032654105 |  | 1384081 | 5752 | SH |  | SOLE |  | 84 | 0 | 5669 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 1521286 | 21708 | SH |  | SOLE |  | 265 | 0 | 21443 |
| BANK AMERICA CORP | COM | 060505104 |  | 1438274 | 31246 | SH |  | SOLE |  | 454 | 0 | 30792 |
| CHEVRON CORP NEW | COM | 166764100 |  | 807335 | 5385 | SH |  | SOLE |  | 51 | 0 | 5334 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 1621663 | 47141 | SH |  | SOLE |  | 746 | 0 | 46395 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 1030249 | 11258 | SH |  | SOLE |  | 122 | 0 | 11136 |
| DBX ETF TR | XTRACKRS S 500 | 233051143 |  | 436625 | 7812 | SH |  | SOLE |  | 0 | 0 | 7812 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 522770 | 5067 | SH |  | SOLE |  | 82 | 0 | 4984 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 1781446 | 24090 | SH |  | SOLE |  | 370 | 0 | 23720 |
| EASTMAN CHEM CO | COM | 277432100 |  | 497078 | 6410 | SH |  | SOLE |  | 107 | 0 | 6303 |
| ELI LILLY  CO | COM | 532457108 |  | 294024 | 372 | SH |  | SOLE |  | 0 | 0 | 372 |
| EQUINIX INC | COM | 29444U700 |  | 1066251 | 1393 | SH |  | SOLE |  | 22 | 0 | 1371 |
| EVERGY INC | COM | 30034W106 |  | 545849 | 8019 | SH |  | SOLE |  | 119 | 0 | 7900 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 1724914 | 5566 | SH |  | SOLE |  | 96 | 0 | 5470 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 2141204 | 19492 | SH |  | SOLE |  | 282 | 0 | 19210 |
| HOME DEPOT INC | COM | 437076102 |  | 1791499 | 5013 | SH |  | SOLE |  | 72 | 0 | 4940 |
| HONEYWELL INTL INC | COM | 438516106 |  | 2057143 | 8684 | SH |  | SOLE |  | 111 | 0 | 8573 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 468970 | 7431 | SH |  | SOLE |  | 0 | 0 | 7431 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 342983 | 2908 | SH |  | SOLE |  | 0 | 0 | 2908 |
| ISHARES TR | TRS FLT RT BD | 46434V860 |  | 686915 | 13586 | SH |  | SOLE |  | 0 | 0 | 13586 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 814281 | 8318 | SH |  | SOLE |  | 0 | 0 | 8318 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1279906 | 2041 | SH |  | SOLE |  | 0 | 0 | 2041 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 339299 | 5402 | SH |  | SOLE |  | 0 | 0 | 5402 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 543481 | 6588 | SH |  | SOLE |  | 0 | 0 | 6588 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 385128 | 8205 | SH |  | SOLE |  | 0 | 0 | 8205 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 358154 | 3210 | SH |  | SOLE |  | 0 | 0 | 3210 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 664470 | 6469 | SH |  | SOLE |  | 0 | 0 | 6469 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 710224 | 4310 | SH |  | SOLE |  | 88 | 0 | 4223 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 2318989 | 8113 | SH |  | SOLE |  | 128 | 0 | 7986 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 2118137 | 8034 | SH |  | SOLE |  | 105 | 0 | 7928 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 371813 | 669 | SH |  | SOLE |  | 0 | 0 | 669 |
| MCDONALDS CORP | COM | 580135101 |  | 1878219 | 6284 | SH |  | SOLE |  | 92 | 0 | 6192 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 1028989 | 13825 | SH |  | SOLE |  | 187 | 0 | 13638 |
| MICROSOFT CORP | COM | 594918104 |  | 2920279 | 5776 | SH |  | SOLE |  | 76 | 0 | 5700 |
| MSCI INC | COM | 55354G100 |  | 214756 | 375 | SH |  | SOLE |  | 0 | 0 | 375 |
| NETFLIX INC | COM | 64110L106 |  | 241310 | 193 | SH |  | SOLE |  | 0 | 0 | 193 |
| NORTHERN LTS FD TR IV | MAIN SECTR ROTN | 66538H591 |  | 46998702 | 804635 | SH |  | SOLE |  | 7213 | 0 | 797422 |
| NORTHERN LTS FD TR IV | MAIN THEMATC IN | 66538H278 |  | 2633642 | 108293 | SH |  | SOLE |  | 833 | 0 | 107461 |
| NORTHERN LTS FD TR IV | MAIN BUYWRITE | 66538H179 |  | 7249314 | 514136 | SH |  | SOLE |  | 1157 | 0 | 512979 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 1220713 | 18209 | SH |  | SOLE |  | 225 | 0 | 17984 |
| ORACLE CORP | COM | 68389X105 |  | 631758 | 2618 | SH |  | SOLE |  | 0 | 0 | 2618 |
| PEPSICO INC | COM | 713448108 |  | 1026940 | 7587 | SH |  | SOLE |  | 94 | 0 | 7494 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 1393893 | 7188 | SH |  | SOLE |  | 96 | 0 | 7091 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 1722562 | 11205 | SH |  | SOLE |  | 159 | 0 | 11046 |
| RTX CORPORATION | COM | 75513E101 |  | 689754 | 4593 | SH |  | SOLE |  | 94 | 0 | 4499 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 287704 | 2143 | SH |  | SOLE |  | 0 | 0 | 2143 |
| SEMPRA | COM | 816851109 |  | 539811 | 7175 | SH |  | SOLE |  | 84 | 0 | 7090 |
| SERVICENOW INC | COM | 81762P102 |  | 248511 | 257 | SH |  | SOLE |  | 0 | 0 | 257 |
| SHELL PLC | SPON ADS | 780259305 |  | 1959239 | 27724 | SH |  | SOLE |  | 435 | 0 | 27289 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 364080 | 3034 | SH |  | SOLE |  | 0 | 0 | 3034 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464A375 |  | 216998 | 6513 | SH |  | SOLE |  | 0 | 0 | 6513 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 1683774 | 22930 | SH |  | SOLE |  | 0 | 0 | 22930 |
| SPDR SERIES TRUST | AEROSPACE DEF | 78464A631 |  | 246318 | 1133 | SH |  | SOLE |  | 0 | 0 | 1133 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 1106684 | 11108 | SH |  | SOLE |  | 135 | 0 | 10973 |
| US BANCORP DEL | COM NEW | 902973304 |  | 1370144 | 29994 | SH |  | SOLE |  | 495 | 0 | 29499 |
| VANGUARD BD INDEX FDS | LONG TERM BOND | 921937793 |  | 200338 | 2967 | SH |  | SOLE |  | 52 | 0 | 2915 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 441789 | 5645 | SH |  | SOLE |  | 93 | 0 | 5553 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 205757 | 2695 | SH |  | SOLE |  | 40 | 0 | 2654 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 462531 | 9393 | SH |  | SOLE |  | 148 | 0 | 9245 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 704559 | 1582 | SH |  | SOLE |  | 28 | 0 | 1554 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 554170 | 3131 | SH |  | SOLE |  | 57 | 0 | 3075 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 330362 | 6576 | SH |  | SOLE |  | 97 | 0 | 6479 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 |  | 486822 | 10622 | SH |  | SOLE |  | 72 | 0 | 10551 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 841135 | 14851 | SH |  | SOLE |  | 242 | 0 | 14609 |
| VISA INC | COM CL A | 92826C839 |  | 438014 | 1252 | SH |  | SOLE |  | 0 | 0 | 1252 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 2249134 | 28146 | SH |  | SOLE |  | 399 | 0 | 27747 |
| ZOETIS INC | CL A | 98978V103 |  | 264143 | 1743 | SH |  | SOLE |  | 0 | 0 | 1743 |

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