The London Company Small Cap Strategy Trimmed Tempur Sealy International (TPX) in Q1

The London Company, an investment management company, released “The London Company Small Cap Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, the fund gained 8.3% (8.2%, net) compared to a 5.2% increase in the Russell 2000 Index. Stock selection led the portfolio to outperform in the quarter, partially offset by sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

The London Company Small Cap Strategy featured stocks like Tempur Sealy International, Inc. (NYSE:TPX) in the first quarter 2024 investor letter. Based in Lexington, Kentucky, Tempur Sealy International, Inc. (NYSE:TPX) designs, manufactures, and distributes bedding products. On May 3, 2024, Tempur Sealy International, Inc. (NYSE:TPX) stock closed at $50.38 per share. One-month return of Tempur Sealy International, Inc. (NYSE:TPX) was -6.04%, and its shares gained 33.92% of their value over the last 52 weeks. Tempur Sealy International, Inc. (NYSE:TPX) has a market capitalization of $8.747 billion.

The London Company Small Cap Strategy stated the following regarding Tempur Sealy International, Inc. (NYSE:TPX) in its first quarter 2024 investor letter:

“Reduced: Tempur Sealy International, Inc. (NYSE:TPX) – Reduction reflects market cap constraints (now over $8.5B). We trimmed the position strength (up 48% in 2023), and believe TPX remains well positioned for future growth.”

A satisfied customer sleeping on a comfortable bed, bedding products laid out on the bed.

Tempur Sealy International, Inc. (NYSE:TPX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Tempur Sealy International, Inc. (NYSE:TPX) at the end of the fourth quarter which was 44 in the previous quarter.

We previously discussed Tempur Sealy International, Inc. (NYSE:TPX) in another article, where we shared the list of high quality down comforter brands in the US. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.