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Additional information about Potomac Fund Management also is available on the SEC’s website at  www.adviserinfo.sec.gov.

Potomac Fund Management, Inc. (“We”, “Our,” “Us” or “Potomac”) was founded in 1987. Potomac specializes in portfolio management and offers its services through various platforms and to different clients. The investment strategies currently offered by Potomac are described in Form ADV Part 2A, which may be amended from time to time without notice to current clients, and may differ in availability from program to program. These strategies span a wide range of risk and performance objectives.

The firms’ owners are Manish Khatta (90%) and Jeff Goodnow (10%).

As of December 31, 2022, Potomac oversaw total assets of $627,134,495. Total assets consist of $599,597,422 discretionary assets, and $27,537,073 assets under advisement. Discretionary assets are those assets for accounts where we have discretionary authority and provide continuous and ongoing supervisory or management services. Assets under advisement are those accounts where we provide administration services but do not have the ability to execute transactions on the accounts.

Potomac offers the following services:

Union (The Strategist Program)

Potomac sponsors a turnkey asset management program, called Union, where it provides discretionary investment advisory services. We provide investors with a means to access professional investment management services from Potomac and other investment advisers.

In Union, Potomac provides its services to: (1) investors introduced by persons unaffiliated with Potomac (which it refers to as “external clients”), and (2) clients that it has originated (which it refers to as “internal clients”). External clients and internal clients are referred to collectively as “clients”.

There are three different methods by which you can receive investment advice. You may select from strategies (1) managed directly by Potomac (“Potomac Strategies”), (2) created by an unaffiliated investment adviser but implemented by Potomac (“Non-Potomac Strategies”), and (3) managed on a discretionary basis by another investment adviser where the investment adviser is responsible for implementing their own advice and executing trades in the client’s account (an “SMA Strategy”). Each of the Potomac Strategies, Non-Potomac Strategies, and SMA Strategies are referred to as a “Strategy” and each investment adviser participating in the program is referred to as a “Strategist.” Strategists other than Potomac are referred to as “Non-Potomac Strategists”. 

Determining Investment Objectives; Suitability of the Program; Selecting Investment Strategies. As part of the client onboarding process, clients must assess their needs, objectives, the suitability of the program, and select Strategies. Potomac assists internal clients in determining their investment needs and objectives, the suitability of Union and its investment strategies and selecting appropriate investment strategies. External clients are assisted by their primary advisor, known as their “Client Advisor” in determining their investment needs and objectives, the suitability of Union and its Strategies, and selecting appropriate Strategies. As between Potomac, an external client, and a Client Advisor, the external client and Client Advisor are exclusively responsible for: (1) determining the client’s initial and ongoing suitability for the program and its Strategies, and selecting one or more Strategies; (2) for receiving all client directions, notices and instructions, and forwarding them to Potomac, in writing, (3) remaining reasonably available to discuss the client’s account and to answer questions about the program and its Strategies, determining whether there have been any changes in the client’s investment objectives or risk tolerance, and determine whether to change the account’s Strategy. Potomac is entitled to rely upon any such direction, notice, or instruction until it has been duly advised in writing of changes.  For more information about Potomac’s relationship with Client Advisors, see the ‘Other Financial Industry Activities and Affiliations’ section in Item 10 of Form ADV Part 2A. Internal clients should contact Potomac to address any changes in their financial situation or investment objectives or should they have any questions.

As part of the account onboarding process, clients will deposit funds and securities in their account(s) and agree that Potomac may, without further authorization, liquidate any other assets deposited in their account(s). Clients acknowledge and agrees that liquidation of these securities may result in tax consequences, for which they should consult with their Client Advisor or other tax advisors.

Potomac Strategies are managed by Potomac on an ongoing, discretionary basis. Potomac retains discretion for buying and selling securities in the Strategy, which are then executed in your account (subject to accepted restrictions). Potomac Strategies are managed by Potomac according to the Strategy’s investment objectives and not necessarily the individual’s personal financial situation or investment objectives. Clients may request to impose reasonable restrictions on the management of their account, which will only be honored if Potomac acknowledges acceptance in writing. For Non-Potomac Strategies, the other investment adviser provides Potomac with investment signals on how the account should be constructed and Potomac implements those instructions in your account. Potomac retains discretion on whether to implement the advice and the timing for implementing the advice it receives from the other adviser, which means that the performance can differ from the performance of having your account managed directly by the Strategist. In each of the Potomac Strategies and the Non-Potomac Strategies, Clients or their Client Advisor select a Strategy, but security selection for a Strategy is based upon the Strategy’s objectives and not upon the individual financial situation or suitability of a client who has chosen to invest in the Strategy. For SMA Strategies, Clients and Client Advisors are responsible for obtaining information from the Strategist on how their account will be managed. Clients and Client Advisors should be guided accordingly.

The Conquer Risk Funds are used exclusively in certain Strategies in the Union. The specific strategies are identified in Item 5 of Form ADV Part 2A under the “Strategist Program Fees” heading.

Clients and Client Advisors should understand that Strategies suggesting that Conquer Risk Funds may be used exclusively meaning that in some cases, up to 100% of an account may be invested in Conquer Risk Funds. There are two primary reasons Potomac uses the Conquer Risk Funds in certain Strategies. First, the use of Conquer Risk Funds improves the speed of execution. Capital markets move fast, and to capitalize on market inefficiencies managers must react accordingly. By using the funds trading and security selection are more efficient for Potomac. Instead of (i) placing numerous trades in Client accounts, or (ii) identifying Client accounts to aggregate and trade on a block basis, Potomac can place trades in the account of the specific Conquer Risk Fund—which is then held by the Client. Second, the use of the Conquer Risk Funds in certain Strategies allows Potomac to offer and manage its Strategies more consistently across various platforms which normalizes the client experience regardless of how Potomac strategies are accessed. Clients and Client Advisors should not invest in these Strategies unless they are comfortable holding an investment portfolio that is comprised almost exclusively of the Conquer Risk Funds. For more information about the conflicts of interest this arrangement creates and how Potomac mitigates this conflict, clients and Client Advisors should review Item 5 of Form ADV Part 2A.   

In other Strategies, we use unaffiliated mutual funds and exchange traded funds.

In some cases, your Client Advisor may retire, switch careers, become disabled, pass away, or otherwise cease providing their services as your Client Advisor. We refer to these accounts as “orphaned accounts”. While we don’t monitor the precise services provided by each Client Advisor, when we are sufficiently confident that an account has become an orphaned account, we will cease charging your account its Client Advisor Fee. We will continue to perform our investment management services and unless we notify clients, we will perform the Client Advisor’s responsibilities (as described above under the heading “Determining Investment Objectives; Suitability of the Program; Selecting Investment Strategies”). In the event we determine not to perform the Client Advisor’s responsibilities, we will notify the client and encourage them to seek out another Client Advisor. In any event, we remain available to discuss any questions a client may have regarding our strategy and their investments.

Potomac also provides non-discretionary investment advisory services, including model portfolio management, through separately managed account programs sponsored by other broker/dealers and investment advisers.

Through these programs, the “sponsor” of the program, contracts directly with their clients to perform various types of investment management services. Potomac delivers model portfolios to the investment platform.  The sponsor or another financial professional is responsible for obtaining the necessary financial information from the client, assisting the client in determining the suitability of the program, establishing their investment objective, and opening an account.

Potomac’s model portfolios generally reflect the investment strategies described on Exhibit A to this Brochures subject to any restrictions, limitations, or specific directions that the sponsor or their clients give to us.  The Conquer Risk Funds are used exclusively in certain Strategies. Clients and prospective Clients should review the disclosure under “Use of Affiliated Funds in Strategies” above.

Potomac continuously reviews, supervises, and updates the model portfolios pursuant to agreements with each sponsor. However, Potomac does not implement the model portfolios on behalf of client accounts and does not have access to information about the underlying clients in the sponsor’s programs. Please refer to each sponsor’s Form ADV Part 2A, Form CRS, or other disclosure documents, for additional information about the services offered through each sponsor’s programs.

We may agree to pay program sponsors to include one or more of our strategies or Conquer Risk Funds in their program. This creates a conflict of interest as it incentivizes the sponsor to include our strategies and Conquer Risk Funds in their program. In addition, we may agree to assume certain costs that would otherwise be passed along to a financial institution or financial professional or their end client. This creates a conflict of interest as it incentivizes the financial institution or financial professional to select our strategies over others to avoid having to directly pay an expense or incurring an expense on behalf of their client. We mitigate these conflicts of interest by disclosing them to the financial institutions and financial professionals that recommend our strategies and the Conquer Risk Funds so that they can make informed decisions and appropriate disclosures to their clients.

Potomac also serves as investment adviser to a series of mutual funds, called the Conquer Risk Funds[1]. For additional information about the Conquer Risk Funds, including fees, expenses, and risk factors, please see each funds’ Prospectus and Statement of Additional Information.

The investment strategies managed by Potomac, and referenced on Exhibit A, may not be appropriate for all investors. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy (including the investments and investment strategies recommended or made by Potomac) will be profitable. Investment returns will fluctuate, and you may lose money. Investing involves risk that you should be prepared to bear. All investments in securities include possible risk of loss of your principal and profits. Additional information regarding the risks associated with the investments that may be owned are more fully explained in the prospectus provided by the investment companies. Please read the prospectus of the individual funds for more information.

Neither Potomac, nor any of its representatives, serves as an attorney, accountant, or insurance agent, and no portion of Potomac’s services should be construed as legal or accounting advice.

For Potomac Strategies, we use charting, technical analysis, fundamental analysis, and cyclical analysis to formulate our advice.  Each of these methods of analysis are described in more detail below.  In implementing Non-Potomac Strategies, we generally implement the Non-Potomac Strategists advice subject to our discretion. In almost all instances, we will implement their advice without deviation. However, in certain instances, we may implement their advice the following business day due to delays in the receipt of information or for other reasons.  Our investment strategies are more thoroughly described in Potomac’s Form ADV Part 2A. IMPORTANT: Investing in securities involves risk of loss that clients should be prepared to bear.

We analyze price and volume information for a particular security. This price and volume information is analyzed using mathematical equations. The resulting data is then applied to charts, which is used to predict future price movements based on price patterns and trends. Charts may not accurately predict future price movements. Current prices of securities may not reflect all information about the security and day-to-day changes in market prices of securities may follow random patterns and may not be predictable with any reliable degree of accuracy.

We analyze past market movements and apply that analysis to the present in an attempt to recognize recurring patterns of investor behavior and potentially predict future price movement. Technical analysis does not consider the underlying financial condition of a company. This presents a risk that a poorly managed or financially unsound company may underperform regardless of market movement.

We attempt to measure the intrinsic value of a security by looking at economic and financial factors (including the overall economy, industry conditions, and the financial condition and management of the company itself) to determine if the company is underpriced (indicating it may be a good time to buy) or overpriced (indicating it may be time to sell). Fundamental analysis does not attempt to anticipate market movements. This presents a potential risk, as the price of a security can move up or down along with the overall market regardless of the economic and financial factors considered in evaluating the stock.

We seek to evaluate recurring price patterns and trends. Economic/business cycles may not be predictable and may have many fluctuations between long- term expansions and contractions. The lengths of economic cycles may be difficult to predict with accuracy and therefore the risk of cyclical analysis is the difficulty in predicting economic trends and consequently the changing value of securities that would be affected by these changing trends.

Potomac’s Tactical Asset Allocation Strategies and Market Timing Strategies, referenced on Exhibit A of Form ADV Part 2A, may hold all or a portion of its assets in cash or cash-equivalents like money market funds, certificates of deposit, short-term debt obligations, and repurchase agreements, either due to pending investments, when investment opportunities are limited, or market conditions are adverse. Under these circumstances, your account may not participate in stock market advances or declines to the same extent it would, had it remained more fully invested in common stocks. When invested in shares of a money market fund, you will generally be subject to duplicative management and other fees and expenses. As a result of engaging in these temporary measures, a strategy may not achieve its investment objective.

Each of the Conquer Risk Funds are classified as “non-diversified” portfolios, which means they can invest in fewer securities at any one time than a diversified portfolio and can invest more of their assets in securities of a single issuer than a diversified portfolio. If you invest in a strategy that uses the Conquer Risk Funds, you may hold a non-diversified portfolio that can invest in a smaller number of securities. Non-diversification increases the risk that the value of a fund could go down because of the poor performance of a single investment. Because a Conquer Risk Fund may invest a significant percentage of its assets in a single ETF, mutual fund and/or money market fund, and at times may hold only one such position along with a cash or cash equivalent position, there is a risk that events negatively affecting these fewer positions will have a greater negative impact on your account’s performance.

Potomac’s implementation of a strategy may fail to produce the intended results. In circumstances where Potomac establishes high conviction positions, it is possible the results of the trend analysis will be incorrect and the high-conviction trade (i.e., the leveraged position) will not produce the desired results; in such circumstances, the losses that you may incur will be greater than they would otherwise be had Potomac not taken the leveraged position. At times, Potomac may determine to hold significant portions of an account in cash and cash equivalents, and in such scenarios may detract from a strategy’s ability to achieve its objectives.

Domestic and foreign economic growth and market conditions, interest rate levels, and political events are among the factors affecting the securities markets of client investments. There is risk that these and other factors may adversely affect your account’s performance. You should consider your own investment goals, time horizon, and risk tolerance before investing with Potomac. An investment with Potomac may not be appropriate for all investors and is not intended to be a complete investment program.

The value of securities may decline as a result of various catastrophic events, such as war, pandemics, natural disasters, war or other global conflict and terrorism. Losses resulting from these catastrophic events can be substantial and could have a material adverse effect on client portfolios.

Cyberattacks, disruptions, breaches or other failures that affect Potomac, issuers of securities held in a portfolio, or other market participants may adversely affect the value of a client’s portfolio or Potomac’s ability to provide client services, including during times of market volatility. Certain such events could potentially result in the dissemination of confidential information. While Potomac has established business continuity and other plans and processes that seek to address the possibility of and fallout from cyberattacks, disruptions, breaches or failures, there are inherent limitations in such plans and systems, and there can be no assurance that such plans and processes will address the possibility of and fallout from any such event.

Overall stock market risks may affect the value of your account. These risks include the financial risk of selecting securities that do not perform as anticipated, the risk that the stock markets in which we invest may experience periods of turbulence and instability, and the general risk that domestic and global economies may go through periods of decline and cyclical change. Many factors affect the performance of each company, including the strength of the company’s management or the demand for its product or services. You should be aware that the value of a company’s share price may decline as a result of poor decisions made by management or lower demand for the company’s products or services. In addition, a company’s share price may also decline if its earnings or revenues fall short of expectations. There are overall stock market risks that may also affect the value of your account. Over time, the stock markets tend to move in cycles, with periods when stock prices rise generally and periods when stock prices decline generally. The value of your investments may increase or decrease more than the stock markets in general. Common stocks, preferred securities, and warrants are examples of equity securities.

Fixed income securities fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than the market price of shorter-term securities. Other risk factors include credit risk (the debtor may default) and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment, possibly causing both the funds and your account’s total return to be reduced and fluctuate more than other types of investments. “Junk bonds” are speculative investments that carry greater risks and are more susceptible to real or perceived adverse economic and competitive industry conditions than higher quality debt securities. Government bonds, corporate bonds and high yield bonds are examples of fixed income securities.

Your account may have exposure to funds that invest in the stocks of small and medium capitalization companies, which may subject your account to additional risks. The earnings and prospects of these companies are more volatile than larger companies. Small and medium capitalization companies may have limited product lines and markets and may experience higher failure rates than do larger companies.

Emerging market issuers may be subject to a greater risk of loss than investments in issuers located or operating in more developed markets. Emerging markets may be more likely to experience inflation, political turmoil, and rapid changes in economic conditions than more developed markets. Emerging markets often have less uniformity in accounting and reporting requirements, less reliable securities valuations and greater risk associated with custody of securities than developed markets.

Underlying funds in which your account may be invested may use derivative instruments such as put and call options on stocks and stock indices, and index futures contracts and options thereon. There is no guarantee such strategies will work. If the underlying fund is not successful in employing such instruments in managing its portfolio, your account’s performance will be worse than if it did not invest in underlying funds employing such strategies. Successful use by an underlying fund of options on stock indices, index futures contracts (and options thereon) will be subject to its ability to correctly predict movements in the direction of the securities generally or of a particular market segment. In addition, underlying funds will pay commissions and other costs in connection with such investments, which may increase your investment expenses and reduce the return. In using certain derivatives, an underlying fund’s losses are potentially unlimited. Derivative instruments may also involve the risk that other parties to the derivative contract may fail to meet their obligations, which could cause losses.

Potomac’s investment strategies are implemented through mutual funds and exchange traded funds, including our Conquer Risk Funds. Mutual funds and exchange traded funds have internal expenses, and some funds and custodians impose additional fees such as short-term redemption fees. Mutual funds may be offered in many share classes with varying internal and custodial expenses. The mutual funds we select are no-transaction fee funds, which based upon our analysis, provide a better value than funds for which a transaction fee is imposed. New share classes are often added to the no-transaction fee fund list. In all instances, Potomac seeks to invest in mutual funds that are the least expensive at the time of purchase and reviews its holdings on a quarterly basis to determine if a lower cost basis fund is available. There is no guarantee that we will always be invested in the fund share class with the lowest overall cost. Third-Party Sponsored Advisory Programs may impose limitations on the securities and share classes that Potomac may select in implementing its strategies and creating model portfolios. In those cases, Potomac may select a more expensive share class in managing its strategy or creating its model portfolio, and the sponsor remains responsible for disclosing its practices to the investor.

Each of the Conquer Risk Funds may purchase leveraged ETFs. The Conquer Risk Funds may be used in managing your account. The net asset value and market price of leveraged ETFs are usually more volatile than the value of the tracked index or of other ETFs that do not use leverage. Leveraged ETFs use investment techniques and financial instruments that may be considered aggressive, including the use of derivative transactions. Most leveraged ETFs are designed to achieve their stated objectives on a daily basis. Their performance over long periods of time can differ significantly from the performance of the underlying index during the same period of time. This effect can be magnified in volatile markets.

Each of the Conquer Risk Funds may purchase inverse ETFs. The Conquer Risk Funds may be used in managing your account. Inverse ETFs seek investment results that are the opposite of the daily performance of an underlying index or basket of stocks. Investors will lose money when the Index rises — a result that is the opposite from traditional funds.

Sector risk is the possibility that stocks within the same group of industries will decline in price due to sector-specific market or economic developments. If Potomac invests a significant portion of your assets, directly or indirectly, in ETFs in a particular sector, your account will be subject to the risk that companies in the same sector are likely to react similarly to legislative or regulatory changes, adverse market conditions and/or increased competition affecting that market segment. The sectors in which the Potomac may be over-weighted will vary.

Any commodity purchase represents a transaction in a non-income-producing asset and is highly speculative. Commodities have risk in that they are affected by global supply and demand; domestic and foreign interest rates; political, economic, financial events, or natural disasters; regulatory and exchange position limits; and concentration within a commodity.

Potomac Fund Management does not have any legal or disciplinary events to disclose.

Potomac Fund Management has adopted a code of ethics pursuant to SEC Rule 204A-1. The Code of Ethics serves to establish a standard of business conduct for all of Potomac’s Associated Persons that is based upon fundamental principles of openness, integrity, honesty, and trust. The Code of Ethics must be signed by all employees and by doing so they agree to the following:  Employees cannot seek to benefit from insider information, all client information is strictly confidential, employees must provide a personal securities transaction report on a quarterly basis. A copy of Potomac’s Code of Ethics is available upon request to any client or prospective client.

Potomac or any officer, employee, or sales representative may buy or sell any investments that are recommended to clients.

Strategist portfolios are subject to initial and ongoing due diligence following our “Firm CPR” process. The due diligence will focus on the firm structure, communication, program design, and returns of each manager.

All securities held in various client accounts are reviewed daily by one of the investment committee members. All accounts participating in the same investment strategy are managed in a similar manner. The daily reviews focus on the analysis of all investment positions with respect to price action of securities. Individual accounts are reviewed by trading personnel before and after a trade is made along with the normal monthly and quarterly reviews conducted by administrative staff. Monthly reviews focus on reviewing and confirming monthly account balances. Quarterly reviews focus on confirming performance is in alignment with the majority of client accounts traded similarly. Events triggering additional reviews include client requests, changes in client objectives or financial status, world and political events, and other events that may affect investment positions.

It remains the client’s responsibility to advise Potomac (and/or the Client Advisor that introduced the client to Potomac), in writing, of any changes in their investment objectives and/or financial situation. All clients (in person or via telephone) are encouraged to review investment objectives and account performance on an annual basis. If the client is referred to Potomac by a solicitor, the client should direct all such communications to the Client Advisor.

The Custodian provides statements detailing transactions and account positions at the end of each month, and in some cases at the end of each quarter.

Potomac is deemed to have custody of client assets solely due to its ability to withdraw fees from accounts. Clients will receive a monthly statement from the custodian where the client’s assets are held. In some cases, the client will receive quarterly statements from the custodian. At times, the client’s financial adviser may provide an account statement generated from Potomac’s website. Please review and compare this statement to the statement provided by your custodian. If there is a discrepancy between the statements, please contact your financial adviser or Potomac immediately.

Potomac does not solicit fees of more than $1,200, per client, more than six months in advance. We do not have any financial condition that is reasonably likely to impair our ability to meet contractual commitments to client accounts.

 Potomac’s Chief Compliance Officer (“CCO”) is Justin Long. Justin is available to address any questions that a client or prospective client may have regarding any of Potomac’s conflicts of interest.

Form ADV Part 2A, Exhibit A – Strategies

Bull Bear is a tactical ‘moderate growth’ strategy with the goal of systematically pursuing growth, in the equity markets, while avoiding catastrophic bear market losses.

The strategy employs a “Core and Explore” investment philosophy using a suite of affiliated tactical mutual funds. Bull Bear will hold a Core (70%-80%) position that will focus on providing tactical leveraged exposure to a major market index. Then the Explore (20%-30%) portion will use momentum to rotate among a group of tactical funds.

The underlying funds utilize a combination of dynamic asset allocation and mechanical system trading. Additionally, they employ risk management techniques including the use of inverse, treasuries, and cash positions during adverse market conditions; cash positions could at times be 100%.

Income Plus is a tactical ‘total return’ strategy with the goal of providing stable and absolute returns, under all market conditions.

The strategy employs a “Core and Explore” investment philosophy using a suite of affiliated tactical mutual funds. Income Plus will hold a Core (70%-80%) position that will focus on absolute return and low daily volatility. Then the Explore (20%-30%) portion will use momentum, to rotate among a group of tactical funds.

The underlying funds utilize a combination of dynamic asset allocation and mechanical system trading. Additionally, they employ risk management techniques including the use of inverse and cash positions during adverse market conditions; cash positions could at times be 100%.

Guardian is a tactical growth strategy with the goal of conservatively participating in equity markets, while avoiding catastrophic bear market losses.

The strategy employs a “Core and Explore” investment philosophy using a suite of affiliated tactical mutual funds. Guardian will hold a Core (70%-80%) position that will focus on diversified and defensive equity exposure. Then the Explore (20%-30%) portion will use momentum to rotate among a group of tactical funds.

The underlying funds utilize a combination of dynamic asset allocation and mechanical system trading. Additionally, they employ risk management techniques including the use of inverse and cash positions during adverse market conditions; cash positions could at times be 100%.

Navigrowth is a tactical ‘moderate growth’ strategy with the goal of pursuing growth, primarily in the equity markets, while avoiding catastrophic bear market losses.

The strategy employs a “Core and Explore” investment philosophy using a suite of affiliated tactical mutual funds. Navigrowth will hold a Core (70%-80%) position that will focus on opportunistic domestic and international growth. Then the Explore (20%-30%) portion will use momentum to rotate among a group of tactical funds.

The underlying funds utilize a combination of dynamic asset allocation and mechanical system trading. Additionally, they employ risk management techniques including the use of inverse and cash positions during adverse market conditions; cash positions could at times be 100%.

Form ADV Part 2B, Supplemental Brochure – Supervised Persons

Manish Khatta, Chief Executive Officer, Chief Investment Officer, Investment Advisor Representative was born January 10, 1980. Mr. Khatta holds a BS degree in Finance from the University of Maryland. He has been a full-time employee with Potomac since January 2002 and in January 2013 he became CEO. Mr. Khatta has no disciplinary history, outside business activities, or additional compensation arrangements. Mr. Khatta is supervised by the CCO.

Jeff Goodnow, Chief Growth Officer, and Investment Advisor Representative was born on January 20, 1970. Mr. Goodnow holds a BA degree in Psychology from the University of Kansas. He has been a full-time employee with Potomac since September 2015 and in 2017 became a minority owner of the firm. Mr. Goodnow has no disciplinary history, outside business activities, or additional compensation arrangements. Mr. Goodnow is supervised by the investment committee and the CCO.

Dan Russo, Portfolio Manager, Director of Research, and Investment Advisor Representative was born September 30, 1977. Mr. Russo holds a BS degree in Finance from the CW Post University and an MBA from Fordham University. He has been a full-time employee with Potomac since March 2021. Mr. Russo has no disciplinary history, outside business activities, or additional compensation arrangements. Mr. Russo is supervised by the investment committee and the CCO.

Potomac’s investment committee makes decisions as a team. The investment committee is supervised by Manish Khatta, CEO of Potomac. Additionally, as CCO, Justin Long is responsible for supervising all supervised persons and enforcing the Firm’s Written Supervisory Procedures/Code of Ethics.