Herc Holdings Inc. received an updated ownership report from investment firm Coliseum Capital and related entities on a Schedule 13G/A. The filing shows that Coliseum Capital Management, LLC, Adam Gray and Christopher Shackelton each beneficially own 780,184 shares of Herc common stock, representing 2.3% of the outstanding shares. Coliseum Capital LLC reports 660,036 shares (2.0%), Coliseum Capital Partners, L.P. 530,580 shares (1.6%), and Coliseum Capital Co-Invest IV, L.P. 129,456 shares (0.4%), all with shared voting and dispositive power and no sole power. These percentages are based on 33,370,258 Herc shares outstanding as of February 13, 2026. The group certifies that the shares are held on a passive basis, not to change or influence control of Herc Holdings.
Positive
None.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Herc Holdings Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
42704L104
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
42704L104
1
Names of Reporting Persons
Coliseum Capital Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
780,184.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
780,184.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
780,184.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.3 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
42704L104
1
Names of Reporting Persons
Coliseum Capital, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,036.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,036.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,036.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
42704L104
1
Names of Reporting Persons
Coliseum Capital Partners, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
530,580.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
530,580.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
530,580.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
42704L104
1
Names of Reporting Persons
Coliseum Capital Co-Invest IV, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
129,456.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
129,456.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
129,456.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.4 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
42704L104
1
Names of Reporting Persons
Adam Gray
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
780,184.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
780,184.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
780,184.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP No.
42704L104
1
Names of Reporting Persons
Christopher Shackelton
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
780,184.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
780,184.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
780,184.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.3 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Herc Holdings Inc.
(b)
Address of issuer's principal executive offices:
27500 Riverview Center Blvd., Bonita Springs, Florida 34134
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed on behalf of Coliseum Capital Management, LLC ("CCM"), Coliseum Capital LLC ("CC"), Coliseum Capital Partners, L.P. ("CCP"), Coliseum Capital Co-Invest IV, L.P. ("CCC IV"), Adam Gray ("Gray") and Christopher Shackelton ("Shackelton" and together with CCM, CC, CCP, CCC IV and Gray, the "Reporting Persons").
(b)
Address or principal business office or, if none, residence:
The business address of the Reporting Persons is 105 Rowayton Avenue, Rowayton, CT 06853.
(c)
Citizenship:
(i) CCM is a Delaware limited liability company; (ii) CC is a Delaware limited liability company; (iii) CCP is a Delaware limited partnership; (iv) CCC IV is a Delaware limited partnership; (v) Gray is a United States citizen; and (vi) Shackelton is a United States citizen.
(d)
Title of class of securities:
Common Stock, par value $0.01 per share
(e)
CUSIP No.:
42704L104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
(i) CCM is the beneficial owner of 780,184 shares of common stock, $0.01 par value per share ("Common Stock"); (ii) CC is the beneficial owner of 660,036 shares of Common Stock; (iii) CCP is the beneficial owner of 530,580 shares of Common Stock; (iv) CCC IV is the beneficial owner of 129,456 shares of Common Stock; (v) Gray is the beneficial owner of 780,184 shares of Common Stock; and (vi) Shackelton is the beneficial owner of 780,184 shares of Common Stock.
(b)
Percent of class:
(i) CCM - 2.3%; (ii) CC - 2.0%; (iii) CCP - 1.6%; (iv) CCC IV - 0.4%; (v) Gray - 2.3%; and (vi) Shackelton - 2.3%. The ownership percentage of each Reporting Person has been calculated based on an assumed total of 33,370,258 shares of Common Stock issued and outstanding as of February 13, 2026, as reported in the Issuer's Annual Report on Form 10-K filed with the SEC on February 17, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(i) 0 shares of Common Stock for CCM; (ii) 0 shares of Common Stock for CC; (iii) 0 shares of Common Stock for CCP; (iv) 0 shares for CCC IV; (v) 0 shares of Common Stock for Gray; and (vi) 0 shares of Common Stock for Shackelton.
(ii) Shared power to vote or to direct the vote:
(i) 780,184 shares of Common Stock for CCM; (ii) 660,036 shares of Common Stock for CC; (iii) 530,580 shares of Common Stock for CCP; (iv) 129,456 shares of Common Stock for CCC IV; (v) 780,184 shares of Common Stock for Gray; and (vi) 780,184 shares of Common Stock for Shackelton.
(iii) Sole power to dispose or to direct the disposition of:
(i) 0 shares of Common Stock for CCM; (ii) 0 shares of Common Stock for CC; (iii) 0 shares of Common Stock for CCP; (iv) 0 shares for CCC IV; (v) 0 shares of Common Stock for Gray; and (vi) 0 shares of Common Stock for Shackelton.
(iv) Shared power to dispose or to direct the disposition of:
(i) 780,184 shares of Common Stock for CCM; (ii) 660,036 shares of Common Stock for CC; (iii) 530,580 shares of Common Stock for CCP; (iv) 129,456 shares of Common Stock for CCC IV; (v) 780,184 shares of Common Stock for Gray; and (vi) 780,184 shares of Common Stock for Shackelton.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
CCM is the investment adviser to CCP and CCC IV, each of which is an investment limited partnership. CC is the General Partner of CCP and CCC IV. Gray and Shackelton are the managers of CC and CCM. The Reporting Persons may be deemed to be members of a group with respect to the Common Stock owned of record by CCP, CCC IV and a separate account managed by CCM (the "Separate Account"). CCP is the record owner of 530,580 shares of Common Stock; CCC IV is the record owner of 129,456 shares of Common Stock; and the Separate Account is the record owner of 120,148 shares of Common Stock.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Coliseum Capital Management, LLC
Signature:
/s/ Adam Cina
Name/Title:
Adam Cina/Attorney-in-fact
Date:
02/17/2026
Coliseum Capital, LLC
Signature:
/s/ Adam Cina
Name/Title:
Adam Cina/Attorney-in-fact
Date:
02/17/2026
Coliseum Capital Partners, L.P.
Signature:
/s/ Adam Cina, by: Coliseum Capital, LLC, its General Partner
Name/Title:
Adam Cina/Attorney-in-fact
Date:
02/17/2026
Coliseum Capital Co-Invest IV, L.P.
Signature:
/s/ Adam Cina, by: Coliseum Capital, LLC, its General Partner
What stake does Coliseum Capital report in Herc Holdings (HRI)?
Coliseum Capital Management, Adam Gray and Christopher Shackelton each report beneficial ownership of 780,184 Herc Holdings shares, equal to 2.3% of the common stock, based on 33,370,258 shares outstanding as of February 13, 2026.
How many Herc Holdings (HRI) shares do the Coliseum Capital entities each hold?
Coliseum Capital LLC holds 660,036 shares, Coliseum Capital Partners, L.P. holds 530,580 shares, and Coliseum Capital Co-Invest IV, L.P. holds 129,456 shares of Herc Holdings common stock, all reported with shared voting and dispositive power.
What percentage of Herc Holdings (HRI) does Coliseum Capital beneficially own?
The Schedule 13G/A reports beneficial ownership of 2.3% for Coliseum Capital Management, Adam Gray and Christopher Shackelton, 2.0% for Coliseum Capital LLC, 1.6% for Coliseum Capital Partners, and 0.4% for Coliseum Capital Co-Invest IV.
Is Coliseum Capital seeking to influence control of Herc Holdings (HRI)?
The filing states the securities were not acquired and are not held for the purpose of changing or influencing control of Herc Holdings, and are not held in connection with any control-related transaction, other than activities tied to a nomination under Rule 14a-11.
What form did Coliseum Capital file regarding Herc Holdings (HRI)?
Coliseum Capital and related parties filed an Amendment No. 1 to Schedule 13G for Herc Holdings common stock, updating their beneficial ownership positions and confirming passive investment status under the relevant SEC ownership rules.
How is voting and dispositive power over Herc Holdings (HRI) shares structured?
The Schedule 13G/A reports zero sole voting or dispositive power for each reporting person and only shared voting and shared dispositive power over the reported Herc Holdings shares across the Coliseum Capital entities and principals.
