Billionaire hedge-fund manager Bill Ackman disclosed a nearly 20% stake in rental-car company Hertz on Thursday as he laid out his bullish reasoning behind the bet.
億萬富翁對衝基金經理比爾·阿克曼在周四披露了他在租車公司赫茲近20%的股份，同時闡述了他看好的理由。
In a social-media post on X, Ackman said the current tariff environment helps Hertz, which he described as part of an oligopoly where Enterprise, Avis and Hertz control nearly 95% of the U.S. market.
在X的社交媒體發帖中，阿克曼表示，目前的關稅環境對赫茲有利，他將赫茲描述為一個寡頭壟斷的一部分，企業、艾維斯和赫茲控製了美國市場近95%。
Driving his rationale: "Improving industry structure and more rational competitive behavior," and fixing a recent misstep when Hertz acquired a large fleet of electric vehicles, Ackman wrote.
他指出的理由是："行業結構改善和更理性的競爭行為，" 並糾正了赫茲收購大量新能源汽車時的一個失誤，阿克曼寫道。
He also mused about a potential partnership with Uber, and said that he would call Dara Khosrowshahi, the ride-hailing giant's chief executive.
他還考慮了與優步潛在的合作夥伴關係，並表示他會聯係優步首席執行官達拉·科斯羅沙希。
Hertz did not immediately respond to a request for comment. Khosrowshahi responded on social media, "Hertz has been a great partner of ours @Uber -- excited to brainstorm on how we can expand on our relationship!"
赫茲未立即回應評論請求。科斯羅沙希在社交媒體上回應道："赫茲一直是我們@Uber的優秀合作夥伴 -- 很高興能集思廣益，看看我們如何能擴大合作關係！"
"We began accumulating shares in @Hertz late last year, and as of today, we have a 19.8% stake in the company comprised of outright share ownership and total return swaps," Ackman said in his post.
阿克曼在他的帖子中表示："我們去年底開始增持@Hertz的股份，截至今天，我們在該公司的持股比例為19.8%，包括直接持股和總回報掉期。"
Auto tariffs are likely to cause used car prices to rise, and Hertz owns a fleet of over 500,000 vehicles valued at approximately $12 billion, Ackman tweeted. A 10% increase in used car prices would equate to a $1.2 billion gain on its auto assets, equivalent to approximately half of the company's current market capitalization.
汽車關稅可能導致二手車價格上漲，而赫茲擁有一支超過500,000輛的車隊，價值約120億美金，阿克曼在推特上寫道。二手車價格上漲10%將導致其汽車資產增值約12億美金，相當於該公司當前市值的一半。
Ackman, who leads Pershing Square Capital Management, cited an operational turnaround being led by Hertz's new management team as giving him confidence in the business, adding that he believes the leveraged capital structure will help generate an attractive return.
阿克曼，作為普興廣場資本管理公司的負責人，指出赫茲新管理團隊正在進行的運營轉型讓他對業務充滿信心，並補充認為杠杆資本結構將有助於產生吸引人的回報。
Hertz shares closed up 44.31% at $8.24 Thursday. Over the past two days, Hertz is up 125.75%.
赫茲的股價周四上漲44.31%，收於8.24美元。在過去兩天中，赫茲股價上漲了125.75%。
