SARATOGA INVT CORP SAR
COM NEW · Common Stock · CUSIP 80349A208
52
institutional holders
+3 vs Q3 2022
2.3m
shares reported held*
19.1%
of all shares outstanding*
$58.1mreported value*
8 new
16 added
11 reduced
6 sold out
net sold ≈ $2.5m (-96.6k shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 11.9m as of 2023-01-09, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $25.52. Options: 3 managers hold calls ($358.9k notional), 3 hold puts ($226.3k).
Trends to Q4 2022
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 49 |
| Q4 2022 | 52 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $271.0k | $2.0k | 0.01 |
| Q4 2022 | $358.9k | $226.3k | 0.63 |
Biggest buyers
| AMERIPRISE FINANCIAL INC | Added | +12.5k |
| CITADEL ADVISORS LLC | New | +10.2k |
| Mariner, LLC | New | +9.5k |
| Claybrook Capital, LLC | Added | +9.2k |
| COMMONWEALTH EQUITY SERVICES, LLC | New | +8.6k |
| Private Advisor Group, LLC | Added | +8.3k |
| PUTNAM INVESTMENTS LLC | New | +8.0k |
| ICA Group Wealth Management, LLC | New | +5.0k |
| Steward Partners Investment Advisory, LLC | Added | +4.1k |
| B. Riley Wealth Advisors, Inc. | Added | +4.0k |
Biggest sellers
| BLACK DIAMOND CAPITAL MANAGEMENT, L.L.C. | Reduced | -97.9k |
| Curi Capital, LLC | Sold out | -25.9k |
| Advisors Asset Management, Inc. | Reduced | -17.2k |
| NORTHERN TRUST CORP | Sold out | -15.4k |
| MORGAN STANLEY | Reduced | -9.3k |
| VIRTUS ADVISERS, LLC | Reduced | -6.4k |
| ADVISORY RESEARCH INC | Reduced | -5.4k |
| MACKENZIE FINANCIAL CORP | Reduced | -4.3k |
| RAYMOND JAMES & ASSOCIATES | Reduced | -3.0k |
| UBS Group AG | Reduced | -2.7k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $356.9k14.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $2.0k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | New | $224.3k8.8k shares |
| SIMPLEX TRADING, LLC | Unchanged | $2.0k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q4 2022
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
BuyingSelling
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2021 | 0 | — | 0 | — | — |
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 1 | $29.4k | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
None reported in Q4 2022.
Holders, Q4 2022
| Manager | Shares | Change |
|---|---|---|
| BLACK DIAMOND CAPITAL MANAGEMENT, L.L.C. 14.88% of their portfolio | 951.3k $24.2m | Reduced -97.9k |
| Advisors Asset Management, Inc. 0.07% of their portfolio | 133.6k $3.4m | Reduced -17.2k |
| Hennion & Walsh Asset Management, Inc. 0.18% of their portfolio | 113.5k $2.9m | Added +1.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 83.5k $2.1m | Added +1.4k |
| RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio | 82.5k $2.1m | Reduced -3.0k |
| Legal & General Group Plc 0.00% of their portfolio | 79.6k $2.0m | Added +4.0k |
| LPL Financial LLC 0.00% of their portfolio | 68.5k $1.7m | Added +1.9k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 60.4k $1.5m | Added +12.5k |
| Private Advisor Group, LLC 0.04% of their portfolio | 54.2k $1.4m | Added +8.3k |
| Palogic Value Management, L.P. 0.66% of their portfolio | 50.0k $1.3m | First filing |
| BANQUE PICTET & CIE SA 0.01% of their portfolio | 44.5k $1.1m | Added +1.1k |
| Pictet North America Advisors SA 0.20% of their portfolio | 44.5k $1.1m | Added +1.1k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 39.1k $996.7k | Reduced -900 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 37.1k $946.4k | Added +303 |
| JB CAPITAL PARTNERS LP 0.23% of their portfolio | 33.8k $862.8k | Unchanged |
| Claybrook Capital, LLC 0.50% of their portfolio | 31.9k $812.2k | Added +9.2k |
| ADVISORY RESEARCH INC 0.07% of their portfolio | 30.4k $773.6k | Reduced -5.4k |
| PFG Advisors 0.07% of their portfolio | 28.2k $719.3k | Reduced -585 |
| Next Level Private LLC 0.54% of their portfolio | 27.7k $732.2k | Unchanged |
| Cerity Partners LLC 0.00% of their portfolio | 26.6k $678.4k | Unchanged |
| MORGAN STANLEY 0.00% of their portfolio | 25.8k $658.1k | Reduced -9.3k |
| MACKENZIE FINANCIAL CORP 0.00% of their portfolio | 22.0k $561.2k | Reduced -4.3k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 21.7k $552.0k | Added +2.7k |
| B. Riley Wealth Advisors, Inc. 0.02% of their portfolio | 20.8k $543.5k | Added +4.0k |
| D.A. DAVIDSON & CO. 0.01% of their portfolio | 20.2k $515.4k | Reduced -1.1k |
| Chicago Partners Investment Group LLC 0.03% of their portfolio | 20.0k $539.0k | Added +108 |
| BARD ASSOCIATES INC 0.18% of their portfolio | 16.2k $424.0k | Added +125 |
| J.P. Morgan Private Wealth Advisors LLC 0.00% of their portfolio | 13.7k $348.6k | Unchanged |
| DAVIDSON TRUST CO 0.25% of their portfolio | 11.0k $280.4k | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 10.2k $258.8k | New |
| VIRTUS ADVISERS, LLC 0.13% of their portfolio | 9.8k $249.2k | Reduced -6.4k |
| Mariner, LLC 0.00% of their portfolio | 9.5k $243.0k | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 8.6k $218.0k | New |
| Larson Financial Group LLC 0.03% of their portfolio | 8.5k $215.8k | Unchanged |
| PUTNAM INVESTMENTS LLC 0.00% of their portfolio | 8.0k $204.0k | New |
| IFP Advisors, Inc 0.00% of their portfolio | 6.8k $157.0k | Added +66 |
| Register Financial Advisors LLC 0.09% of their portfolio | 5.7k $144.9k | First filing |
| ICA Group Wealth Management, LLC 0.03% of their portfolio | 5.0k $126.2k | New |
| Steward Partners Investment Advisory, LLC 0.00% of their portfolio | 4.8k $122.4k | Added +4.1k |
| UBS Group AG 0.00% of their portfolio | 1.5k $38.9k | Reduced -2.7k |
| Tradition Wealth Management, LLC 0.01% of their portfolio | 1.5k $38.0k | Unchanged |
| Belpointe Asset Management LLC 0.00% of their portfolio | 1.0k $25.5k | New |
| Cullen/Frost Bankers, Inc. 0.00% of their portfolio | 900 $22.9k | Unchanged |
| Advisory Services Network, LLC 0.00% of their portfolio | 766 $19.5k | New |
| PFS Partners, LLC 0.01% of their portfolio | 503 $12.8k | Unchanged |
| Cornerstone Planning Group LLC 0.00% of their portfolio | 287 $7.8k | First filing |
| Laurel Wealth Advisors LLC 0.00% of their portfolio | 241 $6.1k | Unchanged |
| Financial Management Professionals, Inc. 0.00% of their portfolio | 181 $5.0k | Unchanged |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 26 $0 | New |
| BlackRock Inc. 0.00% of their portfolio | 1 $14 | Unchanged |
| SIGNATUREFD, LLC 0.00% of their portfolio | 1 $15 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |