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Mattress Firm Holding Corp (MFRM): 40 North Management Buys More Shares

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David S. Winter and David J. Millstone, the managers of 40 North Management, have decided to boost their investment in Mattress Firm Holding Corp. (NASDAQ:MFRM), having acquired 400,436 shares of the company over the past 60 days. According to a recently amended filing with the Securities and Exchange Commission, the fund now holds a little over 4.06 million Mattress Firm shares, the equivalent of 10.9% of the company’s outstanding stock.

Mattress Firm Holding Corp. (NASDAQ:MFRM) shares are trading close to all-time lows, having dropped by roughly 30% so far this year. The stock took a beating on June 10 after the company’s fiscal first quarter results failed to meet Wall Street’s expectations. Higher rebranding costs have had a negative impact on the company’s profitability and forced a revision of its forward guidance. Analyst downgrades followed that earnings report, as well as law firms looking into potential financial misrepresentations. Mattress Firm operates in a highly fragmented industry, with great potential for consolidation and that’s exactly what the company has been doing and will continue to do in order to get a solid footing and establish itself as a key player.

mattress-277906_960_720

At the end of the first quarter, some 31% of Mattress Firm Holding Corp. (NASDAQ:MFRM)’s common stock was held by 18 hedge funds in our system, up from 17 registered a quarter before. Sharlyn C. Heslam’s Stockbridge Partners boosted its stake by 6% during the first quarter to amass 2.78 million shares. Alan Fournier, on the other hand, chose to reduce his fund’s exposure to the stock, with Pennant Capital Management cutting its stake by 38% to hold 1.69 million shares of Mattress Firm on March 31.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
4,063,983 0 4,063,983 0 4,063,983 10.9%
0 4,063,983 0 4,063,983 4,063,983 10.9%
0 2,499,256 0 2,499,256 2,499,256 6.7%
0 4,063,983 0 4,063,983 4,063,983 10.9%
0 4,063,983 0 4,063,983 4,063,983 10.9%
DAVID S. WINTER 0 4,063,983 0 4,063,983 4,063,983 10.9%
DAVID J. MILLSTONE 0 4,063,983 0 4,063,983 4,063,983 10.9%
David S. Winter And David J. Millstone
David S. Winter And David J. Millstone
40 North Management

Page 1 of 13 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

(Amendment No. 11)*

Under the Securities Exchange Act of
1934

MATTRESS FIRM HOLDING CORP.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

57722W106

(CUSIP Number)

David S. Winter

40 North Management LLC

9 West 57th Street, 30th Floor

New York, New York 10019

(212) 821-1600

(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)

COPIES TO:

Robert W. Downes, Esq.

Sullivan & Cromwell LLP

125 Broad Street

New York, New York 10004-2498

(212) 558-4312

July 19,
2016

(Date of Event which Requires Filing
of this Statement)

If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. ¨

Note: Schedules filed in paper format shall include a
signed original and five copies of the schedule, including all exhibits. See Rule §240.13d-7 for other parties to whom copies
are to be sent.

* The remainder of this cover page shall be filled out for
a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

Continued on following pages

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