market folly

David Gallo's hedge fund firm Valinor Management just filed an amended 13G with the SEC regarding its position in DSW Inc (DSW). Due to portfolio activity on January 12th, 2011, Valinor has disclosed a 9.8% ownership stake in DSW with 1,634,361 shares.

Valinor has boosted its position size by 64%, buying 637,834 more shares over the past three and a half months. At third quarter's end (September 30th, 2010), they owned 996,527 shares. In other recent portfolio activity from Gallo, we've highlighted Valinor's new position in Cott (COT) as well.

Gallo's firm is named after lands inhabited by immortal souls from the books of J.R.R. Tolkien. Before founding Valinor, Gallo was at Roberto Mignone's Bridger Management and earned his MBA at Harvard Business School.

Per Google Finance, DSW Inc is "a branded footwear specialty retailer. As of January 30, 2010, the Company operated 305 shoe stores in 39 states in the United States. The Company offers an assortment of dress, casual and athletic footwear for women and men, as well as accessories through DSW stores and dsw.com."

For the latest in hedge fund portfolio activity, scroll through our coverage of SEC filings.