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Livermore
Livermore
ZHEN

Potomac Fund Management Inc

SEC CIK
0000826000
Latest filing
Aug 13, 2026

The latest 13F from Potomac Fund Management Inc covers Q2 2026 (filed Aug 13, 2026): 109 long positions worth $3.97B. The top 10 holdings make up 89.0% of the portfolio, and the largest is iShares Core S&P 500 ETF at 66.9%. Livermore has 10 filings on Form 13F from this institution, going back to Q4 2024.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
20
Est. +$341.0M
Added
42
Est. +$640.5M
Reduced
46
Est. −$45.7M
Sold out
16
Est. −$157.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. iShares Core S&P 500 ETF464287200
    66.9%$2.66B
  2. Bondbloxx ETF Trust09789C788
    9.9%$392.5M
  3. State Street SPDR Portfolio S&P 500 ETF78464A854
    3.5%$137.6M
  4. iShares Tr46436E718
    2.1%$82.2M
  5. Northern LTS FD Tr IV66538H591
    1.5%$60.9M

Share of portfolio

Top 5 holdings and the other 104 positions, by share of portfolio value

  1. iShares Core S&P 500 ETF66.9%
  2. Bondbloxx ETF Trust9.9%
  3. State Street SPDR Portfolio S&P 500 ETF3.5%
  4. iShares Tr2.1%
  5. Northern LTS FD Tr IV1.5%
  6. Other 104 positions16.2%

Biggest buys

New and added positions, by estimated amount bought

  1. iShares Core S&P 500 ETF464287200
    +$398.0MAdded
  2. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$134.9MAdded
  3. Bondbloxx ETF Trust09789C788
    +$69.7MAdded
  4. Bondbloxx ETF Trust09789C887
    +$59.4MNew
  5. Bondbloxx ETF Trust09789C705
    +$55.0MNew

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. State Street SPDR Portfolio S&P 500 ETF78464A854
    +3.38 pp0.1% → 3.5%
  2. Bondbloxx ETF Trust09789C887
    +1.50 pp0.0% → 1.5%
  3. Bondbloxx ETF Trust09789C705
    +1.39 pp0.0% → 1.4%
  4. Vanguard Emerging Markets Government Bond ETF921946885
    +0.76 pp0.0% → 0.8%
  5. iShares Tr46435G474
    +0.75 pp0.0% → 0.8%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Litman Gregory FDS Tr53700T827
    −$28.5MSold out
  2. Kraneshares Trust500767652
    −$28.1MSold out
  3. State Street Health Care Select Sector SPDR ETF81369Y209
    −$26.9MReduced
  4. State Street Consumer Staples Select Sector SPDR ETF81369Y308
    −$24.8MSold out
  5. Vanguard Health Care ETF92204A504
    −$24.8MSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Tr46436E718
    −1.10 pp3.2% → 2.1%
  2. Litman Gregory FDS Tr53700T827
    −0.99 pp1.0% → 0.0%
  3. Kraneshares Trust500767652
    −0.98 pp1.0% → 0.0%
  4. State Street Health Care Select Sector SPDR ETF81369Y209
    −0.87 pp0.9% → <0.1%
  5. State Street Consumer Staples Select Sector SPDR ETF81369Y308
    −0.86 pp0.9% → 0.0%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.97B
+$1.09B (+38.0%) vs. prior quarter
Positions
109
+4 vs. prior quarter
Top 10 concentration
89.0%
Top 10 as share of value
Turnover
5.9%
Q2 2026, one quarter
Average holding period
5.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2024), so positions held before then are understated.

13F filings by quarter

7 quarters, going back to Q4 2024. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.97B (Q2 2026)

Q4 2024: $1.70BQ1 2025: $227.5MQ2 2025: $1.75BQ3 2025: $2.36BQ4 2025: $2.71BQ1 2026: $2.88BQ2 2026: $3.97B
Q4 2024Q2 2026
13F filings of Potomac Fund Management Inc by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 2026109$3.97BiShares Core S&P 500 ETFBondbloxx ETF TrustState Street SPDR Portfolio S&P 500 ETFvs. Q1 2026SEC
Q1 2026May 14, 2026105$2.88BiShares Core S&P 500 ETFBondbloxx ETF TrustiShares Trvs. Q4 2025SEC
Q4 2025Feb 13, 2026108$2.71BVanguard S&P 500 ETFBondbloxx ETF TrustiShares Trvs. Q3 2025SEC
Q3 2025Nov 12, 2025103$2.36BiShares TrBondbloxx ETF TrustDirexion Shs ETF Trvs. Q2 2025SEC
Q2 2025Oct 2, 2025Amended97$1.75BiShares TrDirexion Shs ETF TrProShares Trvs. Q1 2025SEC
Q1 2025Oct 2, 2025Amended72$227.5MInvesco QQQ Trust Series INorthern LTS FD Tr IVVanguard Emerging Markets Government Bond ETFvs. Q4 2024SEC
Q4 2024Oct 2, 2025Amended96$1.70BiShares Core S&P 500 ETFDirexion Shs ETF TrState Street SPDR Portfolio S&P 400 Mid Cap ETF–SEC