# EDGAR Filing Document

**Accession Number:** 0001418746
**File Stem:** 0001104659-26-061140
**Filing Date:** 2026-5
**Character Count:** 10211
**Document Hash:** 3e2fcf30c2e04f208c8d49abac3edbd4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-061140.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001104659-26-061140

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**EFFECTIVENESS DATE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Potomac Capital Management, Inc.
- **CENTRAL INDEX KEY:** 0001418746

**ORGANIZATION NAME:**
- **EIN:** 133984786
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12962
- **FILM NUMBER:** 26978609

**BUSINESS ADDRESS:**
- **STREET 1:** 299 PARK AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10171
- **BUSINESS PHONE:** 212-257-6083

**MAIL ADDRESS:**
- **STREET 1:** 299 PARK AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10171

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

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

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

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Potomac Capital Management Inc.<br>**Address:** 299 PARK AVENUE<br>21ST FLOOR<br>NEW YORK, NY 10171

**Form 13F File Number:** 028-12962

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:** P.J. Solit<br>**Title:** President<br>**Phone:** 212-257-6082

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

/s/ P.J. Solit  New York, NY  05-14-2026<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:** 67

**Form 13F Information Table Value Total:** $114977893

      (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 |
| 5E ADVANCED MATERIALS INC | COM | 33830Q208 |  | 708820 | 506300 | SH |  | SOLE |  | 506300 | 0 | 0 |
| ADTRAN HOLDINGS INC | COM | 00486H105 |  | 971176 | 77200 | SH |  | SOLE |  | 77200 | 0 | 0 |
| ALIBABA GROUP HOLDING LTD | ADRS | 01609W102 |  | 1354968 | 10800 | SH |  | SOLE |  | 10800 | 0 | 0 |
| ALLOT COMMUNICATIONS LTD | COM | M0854Q105 |  | 2486844 | 373400 | SH |  | SOLE |  | 373400 | 0 | 0 |
| AMERICAN VANGUARD CORP | COM | 030371108 |  | 1548905 | 622050 | SH |  | SOLE |  | 622050 | 0 | 0 |
| ANTERIX INC | COM | 03676C100 |  | 6637498 | 173802 | SH |  | SOLE |  | 173802 | 0 | 0 |
| ANTERIX INC | COM | 03676C100 |  | 286425 | 7500 | SH | Put | SOLE |  | 7500 | 0 | 0 |
| ARLO TECHNOLOGIES INC | COM | 04206A101 |  | 1423000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| AVIAT NETWORKS INC | COM NEW | 05366Y201 |  | 45220 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| AXT INC | COM | 00246W953 |  | 85470 | 1500 | SH | Put | SOLE |  | 1500 | 0 | 0 |
| BABCOCK  WILCOX ENTERPR | COM | 05614L209 |  | 940160 | 64000 | SH |  | SOLE |  | 64000 | 0 | 0 |
| BANK OF AMERICA CORP | COM | 060505104 |  | 975000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| BRILLIANT EARTH GROUP INC-A | COM | 109504100 |  | 418950 | 315000 | SH |  | SOLE |  | 315000 | 0 | 0 |
| CADIZ INC | COM | 127537207 |  | 1644850 | 335000 | SH |  | SOLE |  | 335000 | 0 | 0 |
| CLARUS CORPORATION | COM | 18270P109 |  | 3076320 | 1131000 | SH |  | SOLE |  | 1131000 | 0 | 0 |
| CODEXIS INC | COM | 192005106 |  | 446946 | 274200 | SH |  | SOLE |  | 274200 | 0 | 0 |
| Compass Diversified | COM | 20451Q104 |  | 1912338 | 243300 | SH |  | SOLE |  | 243300 | 0 | 0 |
| CONX CORP | WRNT | 212873103 |  | 5456998 | 1196710 | SH |  | SOLE |  | 1196710 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 484080 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| CPI CARD GROUP INC | COM | 12634H200 |  | 175571 | 12100 | SH |  | SOLE |  | 12100 | 0 | 0 |
| CREXENDO INC | COM | 226552107 |  | 861135 | 139568 | SH |  | SOLE |  | 139568 | 0 | 0 |
| DIVERSIFIED HEALTHCARE TRUST | REIT | 25525P107 |  | 398400 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| DOUBLEDOWN INTERACTIVE -ADR | ADRS | 25862B109 |  | 668395 | 79100 | SH |  | SOLE |  | 79100 | 0 | 0 |
| DUOS TECHNOLOGIES GROUP INC | COM | 266042407 |  | 2223889 | 324182 | SH |  | SOLE |  | 324182 | 0 | 0 |
| ECHOSTAR HOLDING CORP-A | COM | 278768106 |  | 23179860 | 198000 | SH |  | SOLE |  | 198000 | 0 | 0 |
| EVOLUS INC | COM | 30052C107 |  | 581565 | 141500 | SH |  | SOLE |  | 141500 | 0 | 0 |
| FENNEC PHARMACEUTICALS INC | COM | 31447P100 |  | 1380060 | 224400 | SH |  | SOLE |  | 224400 | 0 | 0 |
| FIVE POINT HOLDINGS LLC-CL A | COM | 33833Q106 |  | 290400 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| GAIN THERAPEUTICS INC | COM | 36269B105 |  | 1956684 | 1008600 | SH |  | SOLE |  | 1008600 | 0 | 0 |
| GILAT SATELLITE NETWORKS LTD | COM | M51474118 |  | 1094087 | 72842 | SH |  | SOLE |  | 72842 | 0 | 0 |
| GPGI INC | COM | 20459V105 |  | 1940850 | 113500 | SH |  | SOLE |  | 113500 | 0 | 0 |
| GROUPON INC | COM | 399473206 |  | 1854020 | 155800 | SH |  | SOLE |  | 155800 | 0 | 0 |
| GSI TECHNOLOGY INC | COM | 36241U106 |  | 1790776 | 348400 | SH |  | SOLE |  | 348400 | 0 | 0 |
| INFORMATION SERVICES GROUP | COM | 45675Y104 |  | 1120512 | 291800 | SH |  | SOLE |  | 291800 | 0 | 0 |
| INSEEGO CORP | COM NEW | 45782B302 |  | 3336 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| INSPIRED ENTERTAINMENT INC | COM | 45782N108 |  | 4396358 | 616600 | SH |  | SOLE |  | 616600 | 0 | 0 |
| INTRUSION INC | COM | 46121E304 |  | 381920 | 465415 | SH |  | SOLE |  | 465415 | 0 | 0 |
| KVH INDUSTRIES INC | COM | 482738101 |  | 4174464 | 465900 | SH |  | SOLE |  | 465900 | 0 | 0 |
| LESAKA TECHNOLOGIES INC | COM | 64107N206 |  | 5661312 | 1112242 | SH |  | SOLE |  | 1112242 | 0 | 0 |
| LIONSGATE STUDIOS HOLDING CO | COM | 53626N102 |  | 2080790 | 216975 | SH |  | SOLE |  | 216975 | 0 | 0 |
| LUNA INNOVATIONS INC | COM | 550351100 |  | 507947 | 461770 | SH |  | SOLE |  | 461770 | 0 | 0 |
| MAGNACHIP SEMICONDUCT-DEP SH | COM | 55933J203 |  | 1022000 | 365000 | SH |  | SOLE |  | 365000 | 0 | 0 |
| MATTHEWS INTL CORP | CL A | 577128101 |  | 58095 | 2250 | SH |  | SOLE |  | 2250 | 0 | 0 |
| MCDERMOTT INTERNATIONAL LTD | COM | G5924V148 |  | 520000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| NEXTNAV INC | COM | 65345N106 |  | 600750 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| NEXTNAV INC | COM | 65345N106 |  | 160200 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| OWLET INC | COM | 69120X206 |  | 362370 | 70500 | SH |  | SOLE |  | 70500 | 0 | 0 |
| PERMA-FIX ENVIRONMENTAL SVCS | COM | 714157203 |  | 3171723 | 296700 | SH |  | SOLE |  | 296700 | 0 | 0 |
| PIXELWORKS INC | COM | 72581M404 |  | 1080000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| PORCH GROUP INC | COM | 733245104 |  | 440955 | 61500 | SH |  | SOLE |  | 61500 | 0 | 0 |
| POWERFLEET INC | COM | 73931J109 |  | 2806496 | 911200 | SH |  | SOLE |  | 911200 | 0 | 0 |
| PRIORITY TECHNOLOGY HOLDINGS | COM | 74275G107 |  | 513536 | 108800 | SH |  | SOLE |  | 108800 | 0 | 0 |
| PROSHARES ULTRA QQQ | ETF | 74347R206 |  | 738100 | 12100 | SH |  | SOLE |  | 12100 | 0 | 0 |
| PURE CYCLE CORP | COM | 746228303 |  | 490485 | 48756 | SH |  | SOLE |  | 48756 | 0 | 0 |
| REE AUTOMOTIVE LTD - CLASS A | COM | M8287R202 |  | 244757 | 408200 | SH |  | SOLE |  | 408200 | 0 | 0 |
| RIMINI STREET INC | COM | 76674Q107 |  | 275300 | 83933 | SH |  | SOLE |  | 83933 | 0 | 0 |
| SERVICE PROPERTIES TRUST | REIT | 81761L102 |  | 283195 | 209000 | SH |  | SOLE |  | 209000 | 0 | 0 |
| SHOE CARNIVAL INC | COM | 824889109 |  | 293092 | 18800 | SH |  | SOLE |  | 18800 | 0 | 0 |
| T STAMP INC-CLASS A | COM | 873048508 |  | 384551 | 160900 | SH |  | SOLE |  | 160900 | 0 | 0 |
| TECHPRECISION CORP | COM | 878739200 |  | 751179 | 249561 | SH |  | SOLE |  | 249561 | 0 | 0 |
| THE HACKET GROUP INC | COM | 404609109 |  | 1523523 | 117104 | SH |  | SOLE |  | 117104 | 0 | 0 |
| UNISYS CORP | COM | 909214306 |  | 197892 | 95600 | SH |  | SOLE |  | 95600 | 0 | 0 |
| VIANT TECHNOLOGY INC-A | COM | 92557A101 |  | 5965523 | 532636 | SH |  | SOLE |  | 532636 | 0 | 0 |
| WIDEPOINT CORP | COM | 967590209 |  | 1361172 | 272780 | SH |  | SOLE |  | 272780 | 0 | 0 |
| XCEL BRANDS INC | COM | 98400M200 |  | 633020 | 408400 | SH |  | SOLE |  | 408400 | 0 | 0 |
| XPERI INC-W/I | COM | 98423J101 |  | 3468080 | 619300 | SH |  | SOLE |  | 619300 | 0 | 0 |
| XPERI INC-W/I | COM | 98423J101 |  | 5600 | 1000 | SH | Call | SOLE |  | 1000 | 0 | 0 |

---