Pershing Square Adds 2% Hertz Stake in Q4 Portfolio, Posts 20.9% NAV Gain
Pershing Square Capital added a new stake in Hertz Global Holdings equal to roughly 2% of its Q4 portfolio, alongside 13% Amazon and 10% Meta allocations. The fund’s net asset value rose 20.9% in 2025, outpacing the S&P 500’s 16.6% gain.
1. New Pershing Square Stake in Hertz
Pershing Square Capital allocated approximately 2% of its updated Q4 portfolio to Hertz Global Holdings, marking a new position alongside existing stakes in Amazon and Meta Platforms.
2. Portfolio Allocation Context
The new 2% Hertz holding sits beside a 13% allocation to Amazon and a 10% allocation to Meta, reflecting the firm’s focus on high‐growth technology and mobility businesses.
3. 2025 Performance Outperformance
Pershing Square’s net asset value climbed 20.9% in 2025, outperforming the S&P 500’s 16.6% return, driven by strong gains in core positions and new allocations.
4. Potential Impact on Hertz
Ackman’s entry could boost investor confidence in Hertz, potentially improving liquidity and driving further upside as the rental‐car operator seeks to sustain post-pandemic recovery momentum.