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    U-Haul Holding Co (UHAL)

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    U-Haul Holding Company is North America's largest "do-it-yourself" moving and storage operator. The company provides a wide range of services, including truck and trailer rentals, self-storage units, and sales of moving supplies. U-Haul also offers insurance products through its subsidiaries, catering to both moving and storage customers as well as the senior market.

    1. Moving and Storage - Offers truck and trailer rentals, self-storage units, and sales of moving supplies, towing accessories, and propane. Operates through a vast network of company-operated retail stores and independent dealers across the United States and Canada.

    2. Life Insurance - Focuses on life and health insurance products, primarily targeting the senior market with offerings like Medicare supplements and annuities.

    3. Property and Casualty Insurance - Provides loss adjusting, claims handling, and underwrites insurance products such as Safemove®, Safetow®, and Safestor® for U-Haul customers.

    NamePositionStart DateShort Bio
    Edward J. ShoenChairman of the Board and President1986 (Chairman), 1987 (President)Edward J. Shoen has served as Chairman of the Board since 1986 and as President since 1987. He has been associated with the company since 1971 and holds an MBA from Harvard and a JD from Arizona State University.
    Douglas M. BellPresident of Repwest Insurance CompanyFebruary 2013Douglas M. Bell has been President of Repwest Insurance Company since February 2013. He previously served as Vice President of Underwriting (2003–2013) and joined the Repwest Board in 2012.
    Maria L. BellChief Accounting OfficerAugust 2019Maria L. Bell has been the Chief Accounting Officer since August 2019. She joined the company in 2003 and previously served as Controller of U-Haul.
    Jason A. BergChief Financial OfficerJune 2016Jason A. Berg has been the Chief Financial Officer since June 2016. He joined the company in 1996 and previously served as Principal Financial Officer and Chief Accounting Officer (2005–2016).
    Kristine K. CampbellGeneral CounselMay 2023Kristine K. Campbell has been General Counsel since May 2023. She joined U-Haul in 2011, served as Director of Litigation (2020–2023), and previously worked at Greenberg Traurig LLP.
    Robert SimmonsPresident of Oxford Life Insurance CompanyApril 2024Robert Simmons was appointed President and Chairman of Oxford Life Insurance Company in April 2024. He joined Oxford in 2006 and has held roles such as chief actuary and CFO.
    Samuel J. ShoenVice Chairman of the BoardMarch 2018Samuel J. Shoen has been Vice Chairman of the Board since March 2018 and a Director since 2015. He has been with the company since 1992, holding various roles, including U-Box Project Manager.
    John C. ("JT") TaylorPresident of U-Haul2006John C. ("JT") Taylor has been President of U-Haul since 2006. He joined U-Haul in 1981 and has served as a Director since 1990.
    Matthew F. BracciaPresident of Amerco Real Estate CompanyJanuary 2019Matthew F. Braccia has been President of Amerco Real Estate Company since January 2019. He joined Real Estate in 1996 and served as a Real Estate Manager starting in 2008.
    1. Given that you're adding self-storage units faster than you're filling them, leading to occupancy declines and a drag on earnings, how do you plan to balance your aggressive development strategy with the need to improve short-term profitability?
    2. U-Haul's self-storage operations seem undervalued compared to competitors like CubeSmart, which has a similar revenue base but a much higher market capitalization; what steps are you taking to unlock the value of your self-storage assets and close this valuation gap?
    3. With Trion becoming a significant shareholder and communicating with other investors, are you considering any strategic changes to address their concerns, or are you confident that your current business plans will deliver the best shareholder value?
    4. While U-Box is gaining share, you mentioned that the storage segment of U-Box is underperforming compared to competitors; what specific initiatives are you implementing to improve the storage aspect of U-Box and fully leverage its competitive advantage?
    5. Given the modest results in rental income and the uncertainties in consumer confidence, what concrete measures are you taking to stimulate growth in your core moving and storage business over the next two quarters, and how realistic is it to expect a significant uptick in the near term?