Bill Ackman's Pershing Square Capital Management trimmed its holding in Yum Brands Inc. (YUM) by 13.3 million shares for the quarter ended June 30, according to regulatory filings.

According to the most recent filings, Pershing Square's current stake fell to 1.9 million shares at the end of June, against the 15.2 million it held at the end of March. Yum Brands owns Pizza Hut, the largest U.S. pizza chain based on sales.

Pershing Square also said it added to its portfolio an 8.3 million-share stake in payroll giant Automatic Data Processing Inc. (ADP), and 146.5 million shares in Citigroup Inc. (C), which Ackman already disclosed in a filing in late May.

Many investors that manage more than $100 million are required to file 13F forms with their stock holdings within 45 days of the end of a given quarter, giving the public its freshest possible glimpse into the portfolios of well-known money managers like Ackman. Most hedge-fund managers and others wait until the last possible moment to make these filings. The third quarter's deadline is Monday.

Ackman is considered an activist investor who often takes larger stakes in the handful of companies in which he invests, so more current information is available for many of his holdings.

-Amy Or, Dow Jones Newswires, +1 212 416 3142, amy.or@dowjones.com
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