Manikay Partners’s Constellation Brands STZ Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-850,000	Closed	-$83.4M	–	30
2014 Q4	$83.4M	Hold	850,000	–	–	4.22%	11
2014 Q3	$74.1M	Hold	850,000	–	–	4.18%	8
2014 Q2	$74.9M	Hold	850,000	–	–	4.17%	6
2014 Q1	$72.2M	Sell	850,000 -300,000	-26%	-$25.5M	5.72%	5
2013 Q4	$80.9M	Sell	1,150,000 -150,000	-12%	-$10.6M	7.77%	4
2013 Q3	$74.6M	Hold	1,300,000	–	–	6.93%	4
2013 Q2	$67.8M	Buy	+1,300,000	New	+$67.8M	6.12%	5