(Reuters) Shares in Howard Hughes Corp (HHC.N) dropped more than 3 percent on Wednesday after billionaire investor William Ackman, who chairs the real estate company’s board and called it an attractive buy in May, said his firm would sell 2.5 million shares.Ackman, whose hedge fund Pershing Square Capital Management is Howard Hughes’ biggest shareholder, is trimming the firm’s holdings for tax reasons and insists he hasn’t soured on one of his hedge fund’s longest-held investments. He needs to make the move in order to invest some $300 million of his own money into Pershing Square Holdings (PSH.AS), his publicly listed portfolio that trades like a closed-end fund.

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