U-Haul Holding Company SEC Filings

U-Haul Holding Company is offering up to $13,673,700 aggregate principal amount of Fixed Rate Secured Notes through its U-Haul Investors Club. The notes are issued in up to 20 series, each with sub-series carrying different fixed terms from 2 to 8 years and interest rates ranging from 5.00% to 5.30%. The notes are fully amortizing, with principal and interest credited every three months to investors’ U-Haul Investors Club accounts.

The notes are secured by specific U-Haul equipment, including utility dollies, furniture pads and wooden U-Box containers, but each series is separately secured, not cross-collateralized. U-Haul may substitute or remove collateral under certain conditions, and the collateral’s value can decline over time. The notes are structurally subordinated to subsidiary creditors, may be redeemed at par plus accrued interest at U-Haul’s option, are unrated, will not be listed on any exchange, and are only transferable in limited private transactions between club members, making them an illiquid, hold-to-maturity investment.

U-Haul Holding Company has filed an automatic shelf registration statement on Form S-3ASR that includes $13,673,700 aggregate principal amount of unsold Fixed Rate Secured Notes Series UIC-14N, 15N, 16N, 18N, 20N, 21N, 22N, 23N, 24N, 25N, 26N, 31N, 34N, 35N, 36N, 37N, 38N, 39N, 40N and 41N as carry-forward securities from a prior registration. This filing also replaces the company’s existing Form S-3 registration statement, which will terminate upon effectiveness of the new one.

The automatic shelf allows U-Haul to offer and sell, from time to time, debt securities, voting and non-voting common stock, and preferred stock, with specific terms and pricing to be detailed in future prospectus supplements. The company indicates that net proceeds from any such offerings would generally be used for broad corporate purposes, and may be sold through underwriters, dealers, agents, or directly to investors on a continuous or delayed basis.

U-Haul Holding Co director and 10% owner Mark V. Shoen filed a Form 4 reporting a transaction in the company’s Series N Common Stock on 11/20/2025. The filing shows a disposition of 4,578 shares of Series N Common Stock at a reported price of $0 under transaction code G, with 186,013 Series N shares beneficially owned indirectly through the Shoen Family Revocable Trust after the transaction.

The form also lists substantial additional indirect holdings, including 425,196 Series N shares held by the MVS-029 Trust and 8,150,658 Series N shares held by Blackwater Investments, Inc. Other indirect holdings are reported through Willow Grove Holdings LP, EJS-028 Trust, Clarendon Strategies, LLC and SAC Holding Corporation, reflecting a significant aggregate beneficial ownership position tied to various trusts and entities associated with the reporting person.

U-Haul Holding Company furnished a press release announcing its financial results for the quarter ended September 30, 2025. The release, provided as Exhibit 99.1, was furnished under Item 2.02 and is not deemed filed under Section 18 of the Exchange Act or incorporated by reference unless expressly stated.

The company’s common stock trades on the NYSE under UHAL, and its Series N Non‑Voting Common Stock trades under UHAL.B.

Insider transaction involving Edward J. Shoen at U-Haul Holding Co. The filing reports that on 09/18/2025 the MVS-029 Trust sold 229,515 shares of Series N Common Stock to Blackwater Investments, Inc. in exchange for all outstanding equity interests in Holdfast Marine, LLC, valued at approximately $11.8 million. The reported exchange increased the reporting person’s pecuniary interest in the transferred shares by about 86,481 shares. The report lists multiple holdings held directly or indirectly through entities including Willow Grove Holdings LP, Blackwater Investments, Clarendon Strategies, the EJS-028 Trust and an ESOP Trust Fund, and disclaims beneficial ownership except to the extent of Shoen’s pecuniary interest.

Mark V. Shoen, a director of U-Haul Holding Co (ticker: UHAL), reported a related-party transaction involving Series N Common Stock. The MVS-029 Trust sold 229,515 shares of Series N Common Stock to Blackwater Investments, Inc. in exchange for all outstanding equity interests in Holdfast Marine, LLC, valued at approximately $11.8 million. Because Blackwater is a wholly owned subsidiary of Willow Grove Holdings, LP and MVS-029 Trust is a limited partner of Willow Grove, the reporting person may be deemed to have indirect beneficial ownership of the Series N shares held by Blackwater and Willow Grove. The filing discloses multiple indirect holdings across related entities and trusts and includes disclaimers that the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.

Willow Grove Holdings LP and affiliated reporting persons filed a Form 4 disclosing transactions in U-Haul Holding Co (/UHAL/) securities. On 09/18/2025, 229,515 shares of Series N common stock were transferred by the MVS-029 Trust to Blackwater Investments, Inc. in exchange for all outstanding equity interests in Holdfast Marine, LLC, valued for the transaction at approximately $11.8 million. The filing shows the reporting group holds significant indirect positions following the transaction, including 8,150,658 shares of Series N common stock beneficially owned indirectly. The filing describes the ownership chain: Willow Grove is owned and controlled by Foster Road LLC and trusts associated with Edward J. Shoen and Mark V. Shoen; Foster Road is Willow Grove's general partner; Blackwater is a wholly owned subsidiary of Willow Grove; Clarendon Strategies, LLC and SAC Holding Corporation are wholly owned subsidiaries of Blackwater. The reporting persons disclaim beneficial ownership of shares held by Blackwater and its subsidiaries except to the extent of pecuniary interest.