5 New Positions From Farallon Capital Management: Netflix, Inc. (NFLX) and More

International cosmetic and beauty supply retailer Sally Beauty Holdings, Inc. (NYSE:SBH) is next on our list, receiving 2.58% of Farallon’s assets under management. SBH has high hopes for expansion in the future; the company is aiming to grow its 2,650 domestic store count to roughly 3,000 at an annual rate of 4%-5%. Internationally, the company has a presence in Canada, Europe, Mexico, and Chile; SBH would like to see those 671 stores become part of an additional 1,500 over the next five years. The stock posted a gain of 17% looking a year back, edging out the S&P 500 by seven percentage points. Billionaire Jim Simons has almost $80 million invested in Sally Beauty Holdings.

Farallon also took a bearish view on gold with a put position in the SPDR Gold (NYSEMKT:GLD) Shares (NYSEMKT: GLD). GLD has lost $3.1 billion in outflows so far this year, with redemptions accelerating this month. The Gold ETF has declined slightly less than 6% in the same time period. Encouraging economic trends are the main reason for the mass departure by investors, and higher and riskier yields in other asset classes have attracted that money. Credit Suisse recently downgraded gold, adjusting its price target from $1,750 down to $1,600. Steven Cohen of SAC Capital Advisors bought some puts as well last quarter (view his portfolio here).

The article 5 New Positions From Farallon Capital Management originally appeared on Fool.com and is written by Jake Mann.

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