Ms Aldrich's fund is short shares of Treasury - meaning it is betting the share price will fall - and her presentation included a number of negative assessments of the company.
One slide,which purported to quote a US wine distributor,said:"Treasury is the worst channel stuffing supplier of the last nine years. Historically this is what has happened. I'll tell you if you see a quarter and think'wow,this is a healthy portfolio'it's because they stuffed a distributor,not because their brands are any good."
Treasury,which owns brands such as Penfolds and Wolf Blass,is an $11.6 billion companythat has been turned around under the leadership of chief executive Michael Clarke.
The blunt criticism from Ms Aldrich came from left-field,but its impact quickly reached Australia. Shares in Treasury dropped more than 2 per cent in early trading on Tuesday,but recovered to close virtually flat,down just 7¢ to $16.17.
We are pleased with how the business is performing across all regions and across our portfolio.
Treasury Wine Estates statement
"The U.S. … is not growing,"Ms Aldrich reportedly said."19 crimes has really been the company's saviour lately. ... They are stuffing it into every distribution channel they can."
As at the beginning of May 2.9 per cent of Treasury's shares were held short. This is up from 0.8 per cent in early December last year. But on a list of the top 100 shorted stocks on the ASX Treasury currently sits right near the bottom,in 91st place.