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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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  "notes": "This is a classic activist investor thesis slide summarizing the investment case for Hertz.",
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      "text": "Turnaround already leading to stronger results; Fleet refresh complete; Utilization 84%; First profitable quarter in two years.",
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      "text": "Profitability to significantly increase; Management targeting $1bn of EBITDA.",
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      "text": "Potential to meaningfully grow the business with ancillary services; Retail used car sales; Autonomous vehicle ecosystem positioning.",
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      "text": "EBITDA: $1bn",
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      "text": "Source: Company filings, PSCM estimates, Wall Street research. This slide contains Pershing Square's own views and opinions, based on publicly available information, to illustrate Pershing Square's thinking on the matters therein.",
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