11 Hanover Square, 12th Floor
|
|
New York, NY
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10005
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(Address of principal executive offices)
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(Zip Code)
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SELF STORAGE GROUP, INC.
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|||||||
SCHEDULE OF PORTFOLIO INVESTMENTS
|
|||||||
September 30, 2015
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|||||||
(Unaudited)
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|||||||
Member
|
|||||||
Equity Interest
|
Value
|
||||||
WHOLLY OWNED SUBSIDIARIES (83.76%)
|
|||||||
Real Estate Owned (83.76%)
|
|||||||
Self Storage Properties (83.72%)
|
|||||||
100%
|
|
SSG Bolingbrook LLC (a) (b)
|
$
|
6,000,003
|
|||
100%
|
|
SSG Dolton LLC (a) (b)
|
5,800,001
|
||||
100%
|
|
SSG Merrillville LLC (a) (b)
|
5,699,999
|
||||
100%
|
|
SSG Rochester LLC (a) (b)
|
5,800,001
|
||||
100%
|
|
SSG Sadsbury LLC (a) (b)
|
5,599,998
|
||||
100%
|
|
SSG Summerville I LLC (a) (b)
|
3,199,999
|
||||
100%
|
|
SSG Summerville II LLC (a) (b)
|
1,750,000
|
||||
Total real estate owned (Cost $27,725,000)
|
33,850,001
|
||||||
Other (0.04%)
|
|||||||
100%
|
|
SSG Operations LLC (a) (b) (Cost $14,573)
|
14,573
|
||||
Total wholly owned subsidiaries (Cost $27,739,573)
|
33,864,574
|
||||||
Shares
|
COMMON STOCKS (6.71%)
|
||||||
Real Estate Investment Trusts (6.71%)
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|||||||
Diversified (1.41%)
|
|||||||
2,700
|
Public Storage
|
571,401
|
|||||
Industrial (5.30%)
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|||||||
24,000
|
CubeSmart
|
653,040
|
|||||
12,000
|
Extra Space Storage, Inc.
|
925,920
|
|||||
6,000
|
Sovran Self Storage, Inc.
|
565,800
|
|||||
2,144,760
|
|||||||
Total common stocks (Cost $ 1,360,101)
|
2,716,161
|
||||||
PREFERRED STOCKS (2.90%)
|
|||||||
Real Estate Investment Trusts (2.90%)
|
|||||||
Industrial (0.98%)
|
|||||||
15,000
|
CubeSmart 7.75%, Series A
|
394,500
|
|||||
Retail (1.92%)
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|||||||
15,000
|
Pennsylvania Real Estate Investment Trust, 8.25%, Series A
|
392,250
|
|||||
15,000
|
Realty Income Corp., 6.625%, Series F
|
385,950
|
|||||
778,200
|
|||||||
Total preferred stocks (Cost $1,165,208)
|
1,172,700
|
||||||
OTHER (0%)
|
|||||||
2
|
RMR Asia Pacific Fund Fractional shares (b) (Cost $ 0)
|
0
|
|||||
|
SHORT TERM INVESTMENT (7.00%)
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||||||
2,829,049
|
SSgA Money Market Fund, 7 day annualized yield 0.00% (Cost $2,829,049)
|
2,829,049
|
|||||
Total investments (Cost $33,093,931) (100.37%)
|
40,582,484
|
||||||
Liabilities in excess of other assets (-0.37%)
|
(150,453
|
)
|
|||||
Net assets (100.00%)
|
$
|
40,432,031
|
|||||
Net asset value per share (applicable to 7,416,766 shares outstanding; 20,000,000 shares of $0.01 par value authorized)
|
$
|
5.45
|
|||||
(a) Controlled affiliate.
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|||||||
(b) Illiquid and/or restricted security that has been fair valued.
|
|||||||
LLC Limited Liability Company
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ASSETS
|
Level 1
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Level 2
|
Level 3
|
Total
|
|||||||||||||
Investments, at value
|
|||||||||||||||||
|
Wholly-owned subsidiaries | ||||||||||||||||
Self storage properties |
$
|
-
|
$
|
-
|
$
|
33,850,001
|
$
|
33,850,001
|
|||||||||
Other |
-
|
-
|
14,573
|
14,573
|
|||||||||||||
|
Common stocks |
2,716,161
|
-
|
-
|
2,716,161
|
||||||||||||
|
Preferred stocks |
1,172,700
|
-
|
-
|
1,172,700
|
||||||||||||
|
Other |
-
|
-
|
0
|
0
|
||||||||||||
|
Short term investments |
2,829,049
|
-
|
-
|
2,829,049
|
||||||||||||
Total investments, at value
|
$
|
6,717,910
|
$
|
-
|
$
|
33,864,574
|
$
|
40,582,484
|
Wholly Owned Subsidiaries
|
Other
|
Total
|
||||||||||
Balance at December 31, 2014
|
$
|
30,830,000
|
$
|
519,765
|
$
|
31,349,765
|
||||||
Cost of purchases
|
464,573
|
-
|
464,573
|
|||||||||
Proceeds from sales
|
-
|
( 900,368
|
)
|
( 900,368
|
)
|
|||||||
Realized gains
|
-
|
900,368
|
900,368
|
|||||||||
Transfers into (out of ) level 3
|
-
|
-
|
-
|
|||||||||
Change in unrealized appreciation
|
2,570,001
|
( 519,765
|
)
|
2,050,236
|
||||||||
Balance at September 30, 2015
|
$
|
33,864,574
|
$
|
0
|
$
|
33,864,574
|
||||||
Net change in unrealized appreciation attributable to assets still held as level 3 at September 30, 2015
|
$
|
2,570,001
|
$
|
0
|
$
|
2,570,001
|
September 30, 2015
|
Fair Value
|
Valuation Technique
|
Unobservable Input
|
Range
|
||||||
WHOLLY OWNED SUBSIDIARIES
|
||||||||||
Self Storage Properties
|
$
|
33,850,001
|
Income capitalization approach
|
Capitalization rates
|
5.2% -9.5
|
%
|
||||
Other
|
14,573
|
Replacement cost
|
Lack of marketability
|
0
|
%
|
|||||
OTHER
|
$
|
0
|
Liquidating value
|
Discount rate for lack of marketability
|
100
|
%
|
Beginning Equity Interest Percentage
|
Membership Equity
|
Ending Equity Interest Percentage
|
Dividend Income
|
Value
September 30, 2015
|
||||||||||||||||||||
Gross Additions
|
Gross Reductions
|
|||||||||||||||||||||||
|
||||||||||||||||||||||||
SSG Bolingbrook LLC
|
100%
|
|
$
|
-
|
$
|
-
|
100%
|
|
$
|
200,000
|
$
|
6,000,003
|
||||||||||||
|
||||||||||||||||||||||||
SSG Dolton LLC
|
100%
|
|
$
|
-
|
$
|
-
|
100%
|
|
$
|
250,000
|
$
|
5,800,001
|
||||||||||||
|
||||||||||||||||||||||||
SSG Merrillville LLC
|
100%
|
|
$
|
-
|
$
|
-
|
100%
|
|
$
|
190,000
|
$
|
5,699,999
|
||||||||||||
|
||||||||||||||||||||||||
SSG Rochester LLC
|
100%
|
|
$
|
-
|
$
|
-
|
100%
|
|
$
|
255,000
|
$
|
5,800,001
|
||||||||||||
|
||||||||||||||||||||||||
SSG Sadsbury LLC
|
100%
|
|
$
|
450,000
|
$
|
-
|
100%
|
|
$
|
40,000
|
$
|
5,599,998
|
||||||||||||
|
||||||||||||||||||||||||
SSG Summerville I LLC
|
100%
|
|
$
|
-
|
$
|
-
|
100%
|
|
$
|
125,000
|
$
|
3,199,999
|
||||||||||||
|
||||||||||||||||||||||||
SSG Summerville II LLC
|
100%
|
|
$
|
-
|
$
|
-
|
100%
|
|
$
|
80,000
|
$
|
1,750,000
|
||||||||||||
|
||||||||||||||||||||||||
SSG Operations LLC
|
0%
|
|
$
|
14,573
|
$
|
-
|
100%
|
|
$
|
-
|
$
|
14,573
|
|
Acquisition Date |
Cost
|
Value
|
||||||
SSG Bolingbrook LLC
|
6/27/13
|
$
|
5,700,000
|
$
|
6,000,003
|
||||
SSG Dolton LLC
|
6/27/13
|
5,100,000
|
5,800,001
|
||||||
SSG Merrillville LLC
|
6/27/13
|
4,825,000
|
5,699,999
|
||||||
SSG Rochester LLC
|
12/5/12
|
3,750,000
|
5,800,001
|
||||||
SSG Sadsbury LLC
|
12/24/12
|
4,750,000
|
5,599,998
|
||||||
SSG Summerville I LLC
|
7/12/13
|
2,300,000
|
3,199,999
|
||||||
SSG Summerville II LLC
|
8/20/13
|
1,300,000
|
1,750,000
|
||||||
SSG Operations LLC
|
8/11/15
|
14,573
|
14,573
|
||||||
RMR Asia Pacific Fund Fractional shares
|
2010
|
0
|
0
|
||||||
Total
|
$
|
27,739,573
|
$
|
33,864,574
|
|||||
Percent of net assets
|
69
|
%
|
84
|
%
|
(a)
|
The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.
|
(b)
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
(a)
|
Certifications of the registrant's principal executive officer and principal financial officer as required by Rule 30a-2(a) under the 1940 Act.
|
(a)
|
Certifications of the registrant's principal executive and principal financial officer as required by Rule 30a-2(a) under the 1940 Act. (EX-99.CERT)
|
Date: November 17, 2015
|
/s/ Mark C. Winmill
|
|
Mark C. Winmill
President
|
Date: November 17, 2015
|
/s/ Thomas O'Malley
|
|
Thomas O'Malley
Chief Financial Officer
|