market folly

John Shapiro's investment firm Chieftain Capital recently filed an amended 13G with the SEC regarding its position in Tempur Sealy (TPX).  Per the filing, Chieftain now owns 5.21% of the company with over 3.22 million shares.

This is a decrease from the 3.55 million shares Chieftain owned at the end of the second quarter.  The latest filing was required due to portfolio activity on September 10th.

Chieftain has owned this stake since 2010 but has slowly been trimming the stake since the end of 2014.

Per Google Finance, Tempur Sealy is "a bedding provider. The Company develops, manufactures, markets, and distributes bedding products, which it sells globally. The Company operates in three segments: Tempur North America, Tempur International and Sealy. The Company’s brand portfolio includes TEMPUR, Tempur-Pedic, Sealy, Sealy Posturepedic, Optimum, and Stearns & Foster."