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.
亿万富翁对冲基金经理比尔·阿克曼在周四披露了他在租车公司赫兹近20%的股份，同时阐述了他看好的理由。
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的社交媒体发帖中，阿克曼表示，目前的关税环境对赫兹有利，他将赫兹描述为一个寡头垄断的一部分，企业、艾维斯和赫兹控制了美国市场近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："行业结构改善和更理性的竞争行为，" 并纠正了赫兹收购大量新能源汽车时的一个失误，阿克曼写道。
He also mused about a potential partnership with Uber, and said that he would call Dara Khosrowshahi, the ride-hailing giant's chief executive.
他还考虑了与优步潜在的合作伙伴关系，并表示他会联系优步首席执行官达拉·科斯罗沙希。
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!"
赫兹未立即回应评论请求。科斯罗沙希在社交媒体上回应道："赫兹一直是我们@Uber的优秀合作伙伴 -- 很高兴能集思广益，看看我们如何能扩大合作关系！"
"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："我们去年底开始增持@Hertz的股份，截至今天，我们在该公司的持股比例为19.8%，包括直接持股和总回报掉期。"
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.
汽车关税可能导致二手车价格上涨，而赫兹拥有一支超过500,000辆的车队，价值约120亿美金，阿克曼在推特上写道。二手车价格上涨10%将导致其汽车资产增值约12亿美金，相当于该公司当前市值的一半。
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，作为普兴广场资本管理公司的负责人，指出赫兹新管理团队正在进行的运营转型让他对业务充满信心，并补充认为杠杆资本结构将有助于产生吸引人的回报。
Hertz shares closed up 44.31% at $8.24 Thursday. Over the past two days, Hertz is up 125.75%.
赫兹的股价周四上涨44.31%，收于8.24美元。在过去两天中，赫兹股价上涨了125.75%。
