Who owns Saratoga Investment (SAR)
Which tracked institutional funds hold SAR, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SAR company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-14). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
6 tracked funds added or opened SAR while 7 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SAR’s largest tracked holder by dollar value, Lido Advisors, LLC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SAR divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 52 tracked filers holding SAR, 23 increased or opened the position and 34 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SAR between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
Full exits 2
- BI Asset Management Fondsmaeglerselskab A/S$591K
- Cambridge Investment Research Advisors, Inc.$524K
Largest adds
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC$853K
- CITADEL ADVISORS LLC$617K
- Legal & General Group Plc$468K
- Advisors Asset Management, Inc.$382K
- XTX Topco Ltd$336K
- MORGAN STANLEY$312K
Largest trims
- TWO SIGMA INVESTMENTS, LP$809K
- UBS Group AG$448K
- Private Advisor Group, LLC$339K
- BANK OF AMERICA CORP /DE/$334K
- Lido Advisors, LLC$305K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Lido Advisors, LLC trimmed | 181,518 | $4M | 7.8% | 2026-Q2 |
| Private Advisor Group, LLC trimmed | 146,681 | $3M | 6.3% | 2026-Q2 |
| Legal & General Group Plc added | 141,229 | $3M | 6.1% | 2026-Q2 |
| Hennion & Walsh Asset Management, Inc. trimmed | 127,040 | $3M | 5.4% | 2026-Q2 |
| Advisors Asset Management, Inc. added | 121,635 | $3M | 5.2% | 2026-Q2 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC added | 116,012 | $3M | 5.0% | 2026-Q2 |
| LPL Financial LLC trimmed | 111,909 | $2M | 4.8% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 85,079 | $2M | 3.6% | 2026-Q2 |
| Ethos Financial Group, LLC added | 56,533 | $1M | 2.4% | 2026-Q2 |
| BlackRock, Inc. trimmed | 53,261 | $1M | 2.3% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 50,507 | $1M | 2.2% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 49,143 | $1M | 2.1% | 2026-Q2 |
| Wealthcare Advisory Partners LLC trimmed | 49,141 | $1M | 2.1% | 2026-Q2 |
| Palogic Value Management, L.P. | 46,680 | $1M | 2.0% | 2026-Q2 |
| Next Level Private LLC | 43,527 | $971K | 1.9% | 2026-Q2 |
| MORGAN STANLEY added | 41,713 | $931K | 1.8% | 2026-Q2 |
| JB CAPITAL PARTNERS LP | 33,847 | $737K | 1.4% | 2026-Q2 |
| Focus Partners Wealth added | 31,441 | $701K | 1.3% | 2026-Q2 |
| Focus Financial Network, Inc. added | 25,218 | $563K | 1.1% | 2026-Q2 |
| XTX Topco Ltd added | 24,939 | $556K | 1.1% | 2026-Q2 |
| Cetera Investment Advisers added | 23,001 | $513K | 1.0% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 22,747 | $507K | 1.0% | 2026-Q2 |
| GREENWOOD GEARHART LLC added | 21,500 | $480K | 0.9% | 2026-Q2 |
| Virtus Investment Advisers, LLC trimmed | 20,757 | $463K | 0.9% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 19,238 | $429K | 0.8% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 17,419 | $389K | 0.7% | 2026-Q2 |
| D.A. DAVIDSON & CO. trimmed | 14,895 | $332K | 0.6% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 14,782 | $330K | 0.6% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 11,122 | $248K | 0.5% | 2026-Q2 |
| DAVIDSON TRUST CO | 11,000 | $245K | 0.5% | 2026-Q2 |
| Steward Partners Investment Advisory, LLC added | 9,851 | $220K | 0.4% | 2026-Q2 |
| VestGen Advisors, LLC trimmed | 9,719 | $217K | 0.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 9,580 | $214K | 0.4% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 6,929 | $154K | 0.3% | 2026-Q2 |
| UBS Group AG trimmed | 6,665 | $149K | 0.3% | 2026-Q2 |
| Register Financial Advisors LLC added | 6,027 | $134K | 0.3% | 2026-Q2 |
| Triumph Capital Management added | 2,950 | $66K | 0.1% | 2026-Q2 |
| Aquatic Capital Management LLC trimmed | 1,014 | $23K | 0.0% | 2026-Q2 |
| IFP Advisors, Inc | 1,000 | $22K | 0.0% | 2026-Q2 |
| IFG Advisory, LLC new | 1,000 | $22K | 0.0% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 809 | $18K | 0.0% | 2026-Q2 |
| EVOLUTION WEALTH MANAGEMENT INC. | 701 | $16K | 0.0% | 2026-Q2 |
| PFS Partners, LLC | 503 | $11K | 0.0% | 2026-Q2 |
| Russell Investments Group, Ltd. trimmed | 285 | $6K | 0.0% | 2026-Q2 |
| Strategic Investment Solutions, Inc. /IL | 100 | $2K | 0.0% | 2026-Q2 |
| NewEdge Advisors, LLC trimmed | 100 | $2K | 0.0% | 2026-Q2 |
| MJT & Associates Financial Advisory Group, Inc. | 94 | $2K | 0.0% | 2026-Q2 |
| West Financial Advisors, LLC added | 57 | $1K | 0.0% | 2026-Q2 |
| Larson Financial Group LLC | 49 | $1K | 0.0% | 2026-Q2 |
| Quarry LP new | 20 | $446 | 0.0% | 2026-Q2 |
| Hurley Capital, LLC | 15 | $344 | 0.0% | 2026-Q2 |
| Frazier Financial Advisors, LLC new | 10 | $224 | 0.0% | 2026-Q2 |
| Closed-End Fund Advisors, Inc. new | 159,499 | $4M | 7.1% | 2025-Q4 stale (2 quarters behind) |
| Redhawk Wealth Advisors, Inc. added | 40,356 | $984K | 1.9% | 2025-Q3 stale (3 quarters behind) |
| Curi Capital, LLC | 30,000 | $732K | 1.4% | 2025-Q3 stale (3 quarters behind) |
| BI Asset Management Fondsmaeglerselskab A/S | 27,027 | $591K | 1.1% | 2026-Q1 stale (1 quarter behind) |
| Cambridge Investment Research Advisors, Inc. added | 23,976 | $524K | 1.0% | 2026-Q1 stale (1 quarter behind) |
| PFG Advisors added | 21,704 | $475K | 0.9% | 2026-Q1 stale (1 quarter behind) |
| HRT FINANCIAL LP new | 21,519 | $470K | 0.9% | 2026-Q1 stale (1 quarter behind) |
| Kovitz Investment Group Partners, LLC trimmed | 17,813 | $434K | 0.8% | 2025-Q3 stale (3 quarters behind) |
| MARSHALL WACE, LLP trimmed | 16,631 | $406K | 0.8% | 2025-Q3 stale (3 quarters behind) |
| Trexquant Investment LP trimmed | 16,827 | $388K | 0.7% | 2025-Q4 stale (2 quarters behind) |
| JANE STREET GROUP, LLC added | 14,328 | $355K | 0.7% | 2025-Q2 stale (4 quarters behind) |
| BARD ASSOCIATES INC trimmed | 14,256 | $348K | 0.7% | 2025-Q3 stale (3 quarters behind) |
| Dynamic Technology Lab Private Ltd new | 13,214 | $305K | 0.6% | 2025-Q4 stale (2 quarters behind) |
| Sunbelt Securities, Inc. | 13,726 | $300K | 0.6% | 2026-Q1 stale (1 quarter behind) |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 12,875 | $297K | 0.6% | 2025-Q4 stale (2 quarters behind) |
| Brevan Howard Capital Management LP trimmed | 11,419 | $263K | 0.5% | 2025-Q4 stale (2 quarters behind) |
| AVANTAX ADVISORY SERVICES, INC. trimmed | 10,328 | $256K | 0.5% | 2025-Q2 stale (4 quarters behind) |
| TWO SIGMA ADVISERS, LP trimmed | 11,000 | $254K | 0.5% | 2025-Q4 stale (2 quarters behind) |
| Concurrent Investment Advisors, LLC new | 9,768 | $242K | 0.5% | 2025-Q2 stale (4 quarters behind) |
| WEDBUSH SECURITIES INC | 10,700 | $234K | 0.4% | 2026-Q1 stale (1 quarter behind) |
| Janney Montgomery Scott LLC added | 10,256 | $224K | 0.4% | 2026-Q1 stale (1 quarter behind) |
| HighTower Advisors, LLC added | 10,221 | $224K | 0.4% | 2026-Q1 stale (1 quarter behind) |
| HARBOUR INVESTMENTS, INC. added | 5,973 | $138K | 0.3% | 2025-Q4 stale (2 quarters behind) |
| SIMPLEX TRADING, LLC added | 4,264 | $98K | 0.2% | 2025-Q4 stale (2 quarters behind) |
| Western Wealth Management, LLC new | 3,195 | $70K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| Daytona Street Capital LLC | 1,999 | $50K | 0.1% | 2026-Q1 stale (1 quarter behind) |
| BARTLETT & CO. WEALTH MANAGEMENT LLC | 2,000 | $46K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Kestra Advisory Services, LLC new | 1,987 | $46K | 0.1% | 2025-Q4 stale (2 quarters behind) |
| Quantbot Technologies LP new | 1,464 | $36K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| Promus Capital, LLC | 1,273 | $31K | 0.1% | 2025-Q3 stale (3 quarters behind) |
| State of Alaska, Department of Revenue | 630 | $13K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| CIBC Private Wealth Group LLC | 500 | $12K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Wilmington Savings Fund Society, FSB new | 500 | $11K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| SIGNATUREFD, LLC added | 439 | $11K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| Empowered Funds, LLC new | 449 | $10K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| FLAGSHIP HARBOR ADVISORS, LLC new | 443 | $10K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| EASTERN BANK | 400 | $9K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Harbor Asset Planning, Inc. | 261 | $6K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Laurel Wealth Advisors LLC | 241 | $6K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| Advisory Services Network, LLC trimmed | 241 | $5K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Financial Management Professionals, Inc. | 181 | $4K | 0.0% | 2025-Q2 stale (4 quarters behind) |
| Avion Wealth added | 211 | $4K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| Fortitude Family Office, LLC new | 140 | $3K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| MAI Capital Management | 125 | $3K | 0.0% | 2026-Q1 stale (1 quarter behind) |
| HANTZ FINANCIAL SERVICES, INC. new | 75 | $2K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| Blue Trust, Inc. | 20 | $461 | 0.0% | 2025-Q4 stale (2 quarters behind) |
| FMR LLC trimmed | 1 | $24 | 0.0% | 2025-Q3 stale (3 quarters behind) |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.