YUM BRANDS INC

Ticker: YUM CUSIP: 988498101 Class: COM

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 39,910 Value ($000) $2,873 Avg Close $42.91 Range $39.49 - $48.48

Q2 2014

Shares 56,433 Value ($000) $4,582 Avg Close $44.64 Range $42.77 - $47.42

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	39,910	$2,873	$42.91	$39.49 - $48.48
Q2 2014	56,433	$4,582	$44.64	$42.77 - $47.42