market folly

David Gallo's hedge fund Valinor Management has updated its position in Gymboree (GYMB). Per a 13G filed with the SEC, Valinor now shows a 5.6% ownership stake in GYMB with 1,529,368 shares. This is due to portfolio activity on August 25th and reflects a 53.5% increase in their position size. Back on June 30th, Gallo's hedge fund owned 996,069 shares of Gymboree. This is the first SEC-disclosed position from Valinor in a few months. Back in May, we saw that they increased their position in Cardtronics (CATM) as well.

Prior to founding Valinor, Gallo worked at Roberto Mignone's Bridger Management. Gallo received an MBA from Harvard Business School. His hedge fund, Valinor, is named after the lands often inhabited by immortal souls in the books authored by J.R.R. Tolkien.

Taken from Google Finance, Gymboree is "a specialty retailer operating stores selling apparel and accessories for children under the Gymboree, Gymboree Outlet, Janie and Jack, and Crazy 8 brands, as well as play programs for children under the Gymboree Play & Music brand."

To see what other hedge funds have been investing in lately, scroll through our latest coverage of SEC filings.