Ackman's Pershing Square Loads Up On More Yum Brands (YUM) Brands, Discloses His Kraft (KFT) Position

After the close, Bill Ackman's Pershing Square Capital released its 13F for the quarter ended 3/31/10.

Ackman trimmed his stake in his largest holding, Target (NYSE: TGT), slightly and disclosed a new stake in Kraft (NYSE: KFT), which he already talked about publicly in February related to the company's takeover of Cadbury. Ackman also bought more Yum Brands (NYSE: YUM), which operates KFC, Pizza Hut and Taco Bell.

Notable changes:

• Trimmed stake in Target (NYSE: TGT) by 105K shares to 20,685,503
  
• New 32.8 million share stake in Kraft (NYSE: KFT) (position already discussed publicly by Ackman)
  
• Raised stake in Yum Brands (NYSE: YUM) by 1.38 million shares to 15,200,130 shares
  
• Raised stake in Borders Group, Inc. (NYSE: BGP) by 35K shares to 10,597,980 shares
  
• Liquidated position in Automatic Data Processing, Inc. (NYSE: ADP)
  
• Liquidated position in Hyatt Hotels Corporation (NYSE: H)

Ackaman also has a 23.95 million share stake in General Growth Prop (NYSE: GGP), which was last updated in a 13D filing in May, and maintained his stakes in Corrections Corporation of America (NYSE: CXW), Landry's Restaurants Inc. (NYSE: LNY), Greenlight Capital Re, Ltd. (Nasdaq: GLRE).

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