Group 1 - Bill Ackman has made significant investments in the automotive sector, particularly in Uber Technologies, acquiring over 30 million shares, making it the largest holding in the Pershing Square portfolio [2][4] - Ackman increased his stake in Hertz Global Holdings by 18%, with a purchase of 12.7 million shares that was initially undisclosed due to confidentiality [2][3] - Pershing Square exited its position in Nike, previously holding 18.8 million shares, marking a complete divestment [3][5] Group 2 - The latest 13F filing reveals that Ackman and Pershing Square currently hold 11 stocks, with Uber representing 19% of the portfolio, followed by Brookfield Corporation at 18% and Restaurant Brands International at 13% [4][6] - Other notable holdings include Howard Hughes Holdings at 12%, Chipotle at 9.1%, and Canadian Pacific at 8.7% [6] - The portfolio has seen significant changes, with Hilton Worldwide Holdings decreasing by 45% and Google Class C shares down by 16% [5][6]

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from February 16, 2024, to February 10, 2025, seeking damages for misleading statements regarding the company's operations and financial prospects [1][7]. Group 1: Lawsuit Details - The class action was filed in the United States District Court for the District of New Jersey, seeking to recover damages for all persons and entities that purchased Avis Budget securities during the specified Class Period [1]. - Investors have until June 24, 2025, to request appointment as Lead Plaintiff for the class [2]. Group 2: Company Overview - Avis Budget, along with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services across various regions including the Americas, Europe, the Middle East and Africa, Asia, and Australasia [4]. - The company operates several brands, including Avis, Zipcar, and Budget, with a global rental fleet totaling approximately 695,000 vehicles in 2024 [4]. Group 3: Fleet Management and Financial Impact - Effective fleet management is crucial for Avis Budget's profitability, involving proper fleet rotation to avoid depreciation and high maintenance costs [5]. - Following the Covid-19 pandemic, Avis Budget slowed its fleet rotation due to higher vehicle prices, which allowed for better management of fleet costs [6]. - In Q4 2024, Avis Budget reported a significant loss of $1.96 billion, attributed to a change in strategy that accelerated fleet rotations, resulting in a one-time non-cash impairment of $2.3 billion [8]. - The company's CEO announced a transition to a Board Advisor role, with a new CEO taking over in July 2025, following the financial report that led to a 6.82% drop in stock price [8][9].

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from February 16, 2024, to February 10, 2025, seeking damages for misleading statements regarding the company's business and operations [1][6]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the District of New Jersey, representing all individuals and entities that purchased Avis Budget securities during the specified Class Period [1]. - Investors have until June 24, 2025, to request appointment as Lead Plaintiff for the class [2]. Group 2: Company Overview - Avis Budget Group provides car and truck rentals, car sharing, and ancillary services globally, operating brands such as Avis, Zipcar, and Budget, with a global rental fleet of approximately 695,000 vehicles in 2024 [3]. Group 3: Fleet Management and Strategy - Effective fleet management is crucial for Avis Budget's profitability, involving proper fleet rotation to avoid depreciation and high maintenance costs [4]. - Following the Covid-19 pandemic, Avis Budget slowed its fleet rotation due to higher vehicle prices, which allowed for better depreciation management [5]. - In Q4 2024, Avis Budget accelerated fleet rotations to adapt to normalizing vehicle prices, which led to a significant impairment charge and reduced the recoverable value of many vehicles [5][6]. Group 4: Financial Impact - Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for Q4 2024, attributed to a one-time non-cash impairment of $2.3 billion and other charges [7]. - The company's CEO announced a transition to a Board Advisor role, with a new CEO taking over in July 2025, following the financial report [7]. Group 5: Market Reaction - Following the announcement of the financial results and the impairment charge, Avis Budget's stock price fell by $6.12 per share, or 6.82%, closing at $83.59 per share on February 11, 2025 [7].