TD SECURITIES (USA) LLC and affiliated entities report beneficial ownership of Hertz Global Holdings Inc. common stock totaling 27,869,794 shares, representing 8.1% of the class. The position includes 327,291 shares of common stock and 27,518,977 shares issuable upon exercise of warrants exercisable at $13.61 per share. The filer cites 315,764,523 shares of common stock deemed outstanding as reported in the issuer's Form 10-Q for the period ended March 31, 2026.
The schedule is filed jointly by TD Securities (USA) LLC, Toronto Dominion Holdings (USA) Inc., TD Group US Holdings LLC, The Toronto-Dominion Bank and TD Securities Inc. Ownership is reported as principally held by TD Securities (USA) LLC with sole voting and dispositive power over 27,846,268 shares; certain parent entities disclaim direct ownership except for pecuniary interests.
Positive
None.
Negative
None.
Insights
Joint 13G/A discloses a sizable position driven largely by exercisable warrants.
The filing states total beneficial ownership of 27,869,794 shares, comprised of 327,291 common shares and 27,518,977 shares issuable upon exercise of warrants at an exercise price of $13.61. The filer uses the issuer's reported 315,764,523 outstanding-share base as of March 31, 2026.
The report follows Rule 13d-1(k) joint-filing mechanics: parent companies describe indirect interests and disclaim direct ownership except for pecuniary interest. Subsequent SEC or issuer filings would confirm any changes to outstanding shares or warrant status.
Warrant-driven ownership can create potential conversion-driven supply if exercised.
The beneficial position is materially driven by 27,518,977 exercisable warrants at $13.61 per share. Those warrants are described as "presently exercisable," which is a clear numeric disclosure in the filing.
Cash-flow treatment and any planned exercises are not stated here; whether holders exercise will determine actual share issuance and any resulting dilution.
Key Figures
Total beneficial ownership:27,869,794 sharesPercent of class:8.1%Common shares held:327,291 shares+5 more
8 metrics
Total beneficial ownership27,869,794 sharesJoint Schedule 13G/A filing dated May 15, 2026
Percent of class8.1%Computed using 315,764,523 shares deemed outstanding as of March 31, 2026
Common shares held327,291 sharesReported as part of TD Securities (USA) LLC beneficial ownership
Warrants exercisable27,518,977 sharesShares issuable upon exercise of warrants described as presently exercisable
Warrant exercise price$13.61 per shareExercise price for the warrants held by the reporting person
Shares deemed outstanding315,764,523 sharesIssuer's Form 10-Q for period ended March 31, 2026
Sole voting/dispositive power (TDS)27,846,268 sharesSole power reported for TD Securities (USA) LLC
Sole voting/dispositive power (TDSI)23,526 sharesSole power reported for TD Securities Inc.
Key Terms
beneficially owned, warrants exercisable, sole dispositive power, Rule 13d-1(k)
4 terms
beneficially ownedfinancial
"The beneficial ownership of the Reporting Person is comprised of 327,291 shares..."
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
warrants exercisablefinancial
"The Warrants held by the Reporting Person have an exercise price of $13.61 per share and are presently exercisable."
sole dispositive powerregulatory
"TDS has the sole power to dispose or direct the disposition of 27,846,268 of these shares."
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Rule 13d-1(k)regulatory
"filed on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k)"
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Hertz Global Holdings Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
42806J700
(CUSIP Number)
03/31/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
42806J700
1
Names of Reporting Persons
TD SECURITIES (USA) 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
27,846,268.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
27,846,268.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
27,846,268.00
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)
8.1 %
12
Type of Reporting Person (See Instructions)
BD
Comment for Type of Reporting Person: The beneficial ownership of the Reporting Person is comprised 0f 327,291 shares of Common Stock plus 27,518,977 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock that are beneficially owned by the Reporting Person (the "Warrants"). The percentage above is based on (i) 315,764,523 shares of Common Stock deemed outstanding as reported by the Issuer in its quarterly report on Form 10-Q for the period ended March 31, 2026, filed with the SEC on May 8, 2026, plus (ii) the Warrants.
SCHEDULE 13G
CUSIP Number(s):
42806J700
1
Names of Reporting Persons
Toronto Dominion Holdings (USA) Inc.
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
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
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 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
42806J700
1
Names of Reporting Persons
TD Group US Holdings 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
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
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 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
42806J700
1
Names of Reporting Persons
Toronto Dominion Bank
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
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
0.00
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 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
42806J700
1
Names of Reporting Persons
TD Securities Inc.
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
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
23,526.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
23,526.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
23,526.00
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 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Hertz Global Holdings Inc.
(b)
Address of issuer's principal executive offices:
8501 WILLIAMS ROAD, 3RD FLOOR, ESTERO, FLORIDA
33928
Item 2.
(a)
Name of person filing:
TD SECURITIES (USA) LLC
Toronto Dominion Holdings (USA) Inc.
TD Group US Holdings LLC
Toronto Dominion Bank
TD Securities Inc.
(b)
Address or principal business office or, if none, residence:
ONE VANDERBILT AVENUE
NEW YORK, New York
10017
The address of TD Securities (USA) LLC's ("TDS") principal office and Toronto Dominion Holdings (U.S.A.), Inc.'s ("TDH") principal office is One Vanderbilt Avenue, New York, New York 10017. The address of TD Group US Holdings LLC's ("TD GUS") principal office is 251 Little Falls Drive, Wellington, Delaware 19808. The address of Toronto Dominion Bank's ("TD Bank") principal office is Toronto-Dominion Centre, 66 Wellington Street West, 12th Floor, TD Tower, Toronto, Ontario, Canada M5K 1A2. The address of TD Securities Inc. ("TDSI") principal office is Toronto-Dominion Centre, 55 King Street West, 12th Floor, TD Tower, Toronto, Ontario, Canada M5K 1A2
(c)
Citizenship:
TD SECURITIES (USA) LLC - DELAWARE
Toronto Dominion Holdings (USA) Inc. - DELAWARE
TD Group US Holdings LLC - DELAWARE
Toronto Dominion Bank - CANADA (FEDERAL LEVEL)
TD Securities Inc. - ONTARIO, CANADA
(d)
Title of class of securities:
Common Stock, par value $0.01 per share
(e)
CUSIP No.:
42806J700
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).
TD Bank - Bank
TDSI - Broker Dealer
Item 4.
Ownership
(a)
Amount beneficially owned:
27,869,794
TDS has the sole power to vote or direct the vote and the sole power to dispose or direct the disposition of 27,846,268 of these shares.
TDSI has the sole power to vote or direct the vote and the sole power to dispose or direct the disposition of 23,526 of these shares.
The beneficial ownership of TDS is comprised 327,291 shares of Common Stock plus of 27,518,977 shares of Common Stock issuable upon the exercise of warrants to purchase shares of Common Stock that are beneficially owned by the Reporting Person (the "Warrants"). The Warrants held by the Reporting Person have an exercise price of $13.61 per share of Common Stock and are presently exercisable. The percentage above is based on (i) 315,764,523 shares of Common Stock deemed outstanding as reported by the Issuer in its quarterly report on Form 10-Q for the period ended March 31, 2026, filed with the SEC on May 8, 2026, plus (ii) the Warrants.
This schedule is jointly filed by TDS, TDH, TD GUS, TD Bank and TDSI. TDH is the sole owner of TDS. TD GUS is the sole owner of TDH. TD Bank is the sole owner of TD GUS and TDSI. TDH, TD GUS and TD Bank may be deemed to hold an indirect interest in the shares reported herein by TDS virtue of their ownership of TDS. TD Bank may be deemed to hold an indirect interest in the shares reported herein by TDSI by virtue of its ownership of TDSI.
Each of TDH, TD GUS and TD Bank disclaims ownership of the shares reported herein by TDS and TDSI except to the extent of its pecuniary interest therein. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
(b)
Percent of class:
8.1 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
TD SECURITIES (USA) LLC - 27,846,268
Toronto Dominion Holdings (USA) Inc. - 0
TD Group US Holdings LLC - 0
Toronto Dominion Bank - 0
TD Securities Inc. - 23,526
(ii) Shared power to vote or to direct the vote:
TD SECURITIES (USA) LLC - 0
Toronto Dominion Holdings (USA) Inc. - 0
TD Group US Holdings LLC - 0
Toronto Dominion Bank - 0
TD Securities Inc. - 0
(iii) Sole power to dispose or to direct the disposition of:
TD SECURITIES (USA) LLC - 27,846,268
Toronto Dominion Holdings (USA) Inc. - 0
TD Group US Holdings LLC - 0
Toronto Dominion Bank - 0
TD Securities Inc. - 23,526
(iv) Shared power to dispose or to direct the disposition of:
TD SECURITIES (USA) LLC - 0
Toronto Dominion Holdings (USA) Inc. - 0
TD Group US Holdings LLC - 0
Toronto Dominion Bank - 0
TD Securities Inc. - 0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
TD Securities (USA) LLC
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
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 acquired and are held in the ordinary course of business and 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.
TD SECURITIES (USA) LLC
Signature:
Christina Petrou
Name/Title:
Christina Petrou / Executive Vice President & Chief Operating Officer
Date:
05/15/2026
Toronto Dominion Holdings (USA) Inc.
Signature:
Christina Petrou
Name/Title:
Christina Petrou / Executive Vice President & Chief Operating Officer
Date:
05/15/2026
TD Group US Holdings LLC
Signature:
Andre Ramos
Name/Title:
Andre Ramos / US Chief Financial Officer
Date:
05/15/2026
Toronto Dominion Bank
Signature:
Christina Petrou
Name/Title:
Christina Petrou / Executive Vice President & Chief Operating Officer
Date:
05/15/2026
TD Securities Inc.
Signature:
Greg Nowakowski
Name/Title:
Greg Nowakowski / Chief Compliance Officer
Date:
05/15/2026
Exhibit Information
Exhibit I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the common stock of Hertz Global Holdings, Inc. will be filed on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
Dated: May 15, 2026
TD SECURITIES (USA) LLC
By: /s/ Christina Petrou
Title: Executive Vice President & Chief Operating Officer
TORONTO DOMINION HOLDINGS USA, INC.
By: /s/ Christina Petrou
Title: Executive Vice President & Chief Operating Officer
TD GROUP US HOLDINGS LLC
By: /s/ Andre Ramos
Title: US Chief Financial Officer
THE TORONTO-DOMINION BANK
By: /s/ Christina Petrou
Title: Executive Vice President & Chief Operating Officer
TD SECURITIES INC.
By: /s/ Greg Nowakowski
Title: Chief Compliance Officer
What stake does TD report in HTZ in this Schedule 13G/A?
TD reports beneficial ownership of 27,869,794 shares, representing 8.1% of the class, combining common stock and exercisable warrants as disclosed in the filing.
How is the 27,869,794-share total composed according to the filing?
The total includes 327,291 common shares plus 27,518,977 shares issuable upon exercise of warrants exercisable at $13.61 per share, per the filing language.
What outstanding-share base did the filer use to compute the percentage?
The filing uses 315,764,523 shares of common stock deemed outstanding as reported in the issuer's Form 10-Q for the period ended March 31, 2026.
Who holds voting and disposition power over the reported shares?
TD Securities (USA) LLC is reported to have sole voting and sole dispositive power over 27,846,268 shares; TD Securities Inc. holds sole power over 23,526 shares, per the filing.
Are the warrants exercisable now according to the filing?
Yes; the filing states the warrants have an exercise price of $13.61 per share and are described as "presently exercisable" in the disclosed text.
