Valinor Management Boosts Swift Transportation (SWFT) Stake ~ market folly

Monday, June 13, 2011

Valinor Management Boosts Swift Transportation (SWFT) Stake

David Gallo's hedge fund Valinor Management just filed an amended 13G with the SEC regarding Swift Transportation (SWFT). Due to trading on June 2nd, Valinor now owns 8.8% of SWFT with 7,023,271 shares.

This marks a 47% increase in their position size as they owned only 4,767,170 shares at the end of the first quarter (March 31st). We covered when Valinor originally started their stake in SWFT back in December as the company went public.

Over the past few months we've also detailed activity from Gallo's hedge fund in Clearwater Paper (CLW) as well as Cott (COT).

We're always curious as to how hedge funds got their name, so it's interesting that Gallo's firm is named after lands inhabited by immortal souls from the books of J.R.R. Tolkien. Before founding Valinor, Gallo earned his MBA from Harvard Business School and worked at Roberto Mignone's Bridger Management.

Per Google Finance, Swift Transportation "formerly Swift Holdings Corp., is a transportation services company and a truckload carrier in North America. As of September 30, 2010, the Company operated a tractor fleet of approximately 16,200 units comprised of 12,300 tractors driven by company drivers and 3,900 owner-operator tractors, a fleet of 48,600 trailers, and 4,500 intermodal containers from 35 terminals positioned near major freight centers and traffic lanes in the United States and Mexico."

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