Overview

• Hertz shares climbed 56% on April 16, 2025, after Pershing Square revealed a 4% stake in the company through a regulatory filing.
• Reports indicate that Pershing Square has expanded its position to 19.8% using shares and swaps, becoming Hertz's second-largest shareholder.
• The disclosed 4% stake is valued at approximately $46.5 million in a company with a $1.12 billion market capitalization.
• Pershing Square reportedly received an SEC exemption to delay its filing, enabling it to accumulate more shares before disclosure.
• Investors are optimistic about potential strategic changes at Hertz, which recently faced significant losses from its electric vehicle fleet strategy.