market folly

David Gallo's hedge fund firm Valinor Management just filed a 13G with the SEC to disclose a brand new position in Swift Transportation (SWFT). Per portfolio activity on December 16th, 2010, Valinor shows a 7.3% ownership in SWFT with 5,380,312 shares.

This is a brand new position for the hedge fund as Swift Transportation's initial public offering (IPO) took place on December 16th and Valinor most likely purchased shares in the IPO. The company recently reported a $48.3 million loss in the fourth quarter and attributed much of its loss to debt refinancing transactions and IPO related expenses.

Earlier this week we detailed some other recent portfolio activity from Valinor as well for those interested.

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."

Keep tabs on the latest hedge fund movements with our analysis of the latest SEC filings.