Company Overview

U-Haul Holding Company (NYSE: UHAL), formerly known as AMERCO until 2022, is a Nevada-based holding company primarily engaged in do-it-yourself moving and self-storage services across North America. The company operates in the moving and storage industry through its flagship U-Haul brand and also maintains operations in property and casualty insurance and life insurance through affiliated subsidiaries. Its primary revenue drivers include truck and trailer rentals, self-storage rentals, moving supplies, towing accessories, and insurance-related products tied to moving and storage activities.

The company’s core customer base includes individual consumers, households relocating within the United States and Canada, college students, military personnel, and small businesses requiring short-term transportation or storage solutions. U-Haul has developed a broad retail and logistics network that includes company-owned centers, independent dealers, and self-storage facilities, giving it one of the largest moving-equipment fleets in North America. Founded in 1945 by Leonard Shoen and Anna Mary Carty Shoen, the company expanded from trailer rentals into truck rentals, storage operations, and insurance businesses over several decades, evolving into an integrated mobility and storage platform.

Business Operations

U-Haul Holding Company operates primarily through three major business areas: Moving and Storage, Property and Casualty Insurance, and Life Insurance. The Moving and Storage segment generates the substantial majority of company revenue through truck and trailer rentals, self-storage occupancy fees, sales of moving supplies, propane sales, hitch installations, and related mobility services. The company controls a large fleet of rental trucks, trailers, towing devices, and storage facilities distributed throughout the United States and Canada. Operations are supported through both company-owned locations and an extensive independent dealer network.

Its insurance activities are conducted mainly through subsidiaries including Repwest Insurance Company, Oxford Life Insurance Company, and related entities. These subsidiaries provide moving-related insurance products, life insurance, annuities, and property coverage. The company also maintains significant real estate holdings tied to self-storage and retail operations. Strategic operational partnerships include relationships with independent equipment dealers and local operators that extend market penetration without requiring fully company-owned infrastructure in every location.

Strategic Position & Investments

U-Haul Holding Company has focused its long-term strategy on expanding self-storage capacity, modernizing fleet operations, improving digital reservation capabilities, and increasing operational efficiency across its logistics network. The company has continued investing heavily in owned self-storage properties and in converting acquired commercial real estate into storage facilities, reflecting management’s emphasis on recurring storage revenue alongside transactional truck rental income. Investments in fleet maintenance, fuel efficiency, and mobile technology platforms have also remained central to the company’s operational strategy.

The company’s portfolio includes subsidiaries such as U-Haul International, Repwest Insurance Company, and Oxford Life Insurance Company. Growth initiatives have included expanding urban storage footprints, increasing truck availability in high-demand migration markets, and improving online customer self-service tools. Public filings and investor disclosures indicate ongoing investments in property acquisitions and facility development across North America. The company has also pursued sustainability-related fleet initiatives, including alternative-fuel vehicle considerations and operational efficiency measures, although the pace and scale of these efforts vary by market and asset type.

Geographic Footprint

U-Haul Holding Company is headquartered in Reno, Nevada, with major operational activity distributed throughout the United States and Canada. The company maintains a broad North American presence through thousands of retail, dealer, and storage locations serving metropolitan, suburban, and rural markets. Its operational network spans all major U.S. regions, including the South, West, Midwest, and Northeast, with particularly strong visibility in high-mobility residential markets.

The company’s international footprint is concentrated primarily in Canada, where it operates truck rental, trailer rental, and storage services similar to its U.S. model. While U-Haul does not maintain the same level of international diversification as some transportation or logistics conglomerates, its North American scale gives it substantial operational reach and market influence within the DIY moving and storage sector. Real estate investments tied to storage infrastructure represent a significant component of its geographic expansion strategy.

Leadership & Governance

U-Haul Holding Company remains closely associated with the Shoen family, which has played a central role in the company’s leadership and governance for decades. The company’s strategic direction has emphasized asset ownership, operational scale, disciplined capital allocation, and long-term expansion of storage infrastructure. Management communications and public filings consistently highlight customer accessibility, fleet availability, and decentralized operational execution as core principles.

Key executives include:

• Edward J. Shoen – Chairman and Chief Executive Officer
• Jason A. Berg – Chief Financial Officer
• John “J.T.” Taylor – President of U-Haul International
• James P. Shoen – Director
• Mark V. Shoen – Director
• J. Daniel Kammerer – Secretary

Leadership strategy has focused on maintaining direct control over major operating assets, expanding recurring revenue streams through self-storage, and preserving financial flexibility through internally funded growth initiatives. Public disclosures in SEC filings and annual reports indicate continued emphasis on long-term infrastructure ownership rather than aggressive international diversification or large-scale transformational acquisitions.