Portolan Capital Management, managed by George McCabe, recently filed a 13F filing with the U.S. Securities and Exchange Commission, disclosing its equity portfolio as held at the end of the fourth quarter of 2014. The value of the fund’s portfolio amounted to just over $499 million, up from the slightly more than $440 million reported at the end of the third quarter of 2014. Portolan Capital Management had strong focus on Consumer, Healthcare, and Technology stocks. We have picked the three largest holdings, in terms of value, from Portolan Capital’s portfolio. In this article, we will talk about each of these holdings, which are comprised of Goodyear Tire & Rubber Co (NASDAQ:GT), Office Depot Inc. (NASDAQ:ODP), and Anika Therapeutics Inc. (NASDAQ:ANIK).
Boston, Massachusetts-based Portolan Capital Management is a hedge fund which manages 12 accounts totaling $535 million in assets under management (AUM). George McCabe serves as the managing director and chief investment officer of the fund, which he founded in 2005 after previously having worked as a research analyst at the family office of Peter Lynch and the Lynch Foundation, where he helped to manage the fund’s major investments.
Portolan Capital Management’s top holding was Goodyear Tire & Rubber Co (NASDAQ:GT), in which the fund reported owning 550,820 shares, worth $15.7 million. The stake represents an increase of 35% from the 407,476 shares the fund held as of September 30, 2014. Goodyear Tire & Rubber Co (NASDAQ:GT) is a tire company with a market cap of around $7 billion. The company is engaged in the manufacturing of rubber products in 50 facilities in 22 countries around the world. The company’s stock gained 10.5% over the past year. For the third quarter of 2014, Goodyear Tire & Rubber Co (NASDAQ:GT) reported net income of $161 million, or $0.58 per share, down from net income of $166 million, or $0.62 per share, in the third quarter of 2013. For the nine months ended September 30, 2014, the company posted net income of $316 million, down from net income of $372 million.
Other investors betting big on Goodyear Tire & Rubber Co (NASDAQ:GT) include Richard McGuire’s Marcato Capital Management, which held 12.44 million shares as of September 30, 2014, and Appaloosa Management LP, led by David Tepper, which reported owning 11.28 million as of September 30, 2014.