WCG Management’s Top Picks After Portfolio Reshuffling

#2 Constellation Brands, Inc. (NYSE:STZ)

– Shares Owned by WCG Management (as of March 31): 50,030

– Value of Holding (as of March 31): $7.57 Million

WCG boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 122% during the first three months. Shares of the $31.6 billion international beverage alcohol company hit an all-time high recently following the announcement of solid fourth quarter financial results. The company is considering an IPO for its Canadian wine business, which includes eight wineries and about 1,700 acres of Canadian vineyards. The proceeds from the offering will be used to deleverage its balance sheet. Stephen Mandel’s Lone Pine Capital hiked its Constellation Brands, Inc. (NYSE:STZ) stake by 15% to 5.35 million shares in the last three months of 2015.

#1 ConocoPhillips (NYSE:COP)

– Shares Owned by WCG Management (as of March 31): 50,030

– Value of Holding (as of March 31): $7.57 Million

Jeffries recently downgraded ConocoPhillips (NYSE:COP) to ‘Underperform’ from ‘Hold’, but WCG had a different take on the prospects of the independent exploration and production company, when it initiated a stake in it during the January-March period. Jeffries set a price target of $38, which reflects a downside of 22% at the current trading level, since the rating firm believes that ConocoPhillips’ current share price reflects an unjustified premium to the sector average. However, shares are up by nearly 3% on a year-to-date basis and as of the end of March the short interest stood at just 1.57% of the total outstanding float. Ken Fisher’s Fisher Asset Management raised its ConocoPhillips (NYSE:COP) holding by 15% to nearly 17,300 shares during the first quarter.

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