Vault-13

SARATOGA INVT CORP SAR

COM NEW · Common Stock · CUSIP 80349A208

59 institutional holders -3 vs Q1 2024
2,011,9952.0m shares reported held*
14.6% of all shares outstanding*
$45.7mreported value*
6 new 20 added 16 reduced 9 sold out net sold ≈ $5.2m (-229.4k 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: 13.7m as of 2024-07-08, 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 ≈ $22.70. Options: 3 managers hold calls ($273.9k notional), 4 hold puts ($982.5k).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 49Q4 22: 52Q1 23: 58Q2 23: 68Q3 23: 66Q4 23: 72Q1 24: 62Q2 24: 5959Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202249
Q4 202252
Q1 202358
Q2 202368
Q3 202366
Q4 202372
Q1 202462
Q2 202459

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q4 22: 24 bought or addedQ4 22: 17 cut or sold outQ4 22Q1 23: 36 bought or addedQ1 23: 18 cut or sold outQ2 23: 42 bought or addedQ2 23: 24 cut or sold outQ2 23Q3 23: 40 bought or addedQ3 23: 22 cut or sold outQ4 23: 38 bought or addedQ4 23: 21 cut or sold outQ4 23Q1 24: 29 bought or addedQ1 24: 35 cut or sold outQ2 24: 26 bought or addedQ2 24: 25 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20222417
Q1 20233618
Q2 20234224
Q3 20234022
Q4 20233821
Q1 20242935
Q2 20242625

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ3 23 calls: $1.0mQ3 23 puts: $141.3kQ3 23P/C 0.14Q4 23 calls: $593.9kQ4 23 puts: $446.9kQ4 23P/C 0.75Q1 24 calls: $380.1kQ1 24 puts: $1.0mQ1 24P/C 2.67Q2 24 calls: $273.9kQ2 24 puts: $982.5kQ2 24P/C 3.59
Numbers
QuarterCallsPutsP/C
Q3 2023$1.0m$141.3k0.14
Q4 2023$593.9k$446.9k0.75
Q1 2024$380.1k$1.0m2.67
Q2 2024$273.9k$982.5k3.59

Biggest buyers

BI Asset Management Fondsmaeglerselskab A/S New +48,697+48.7k
VIRTUS ADVISERS, LLC Added +13,952+14.0k
Trexquant Investment LP New +11,803+11.8k
Legal & General Group Plc Added +10,625+10.6k
LPL Financial LLC Added +10,269+10.3k
Qube Research & Technologies Ltd Added +9,075+9.1k
TWO SIGMA ADVISERS, LP Added +7,900+7.9k
MILLENNIUM MANAGEMENT LLC Added +5,298+5.3k
Curi Capital, LLC Added +5,000+5.0k
INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC New +4,739+4.7k

Biggest sellers

MORGAN STANLEY Reduced -70,178-70.2k
CITADEL ADVISORS LLC Reduced -58,847-58.8k
Rockefeller Capital Management L.P. Sold out -56,977-57.0k
Alpine Global Management, LLC Reduced -51,094-51.1k
FRANKLIN RESOURCES INC Sold out -36,023-36.0k
Quadrature Capital Ltd Sold out -29,641-29.6k
TWO SIGMA INVESTMENTS, LP Reduced -23,620-23.6k
Advisors Asset Management, Inc. Reduced -11,136-11.1k
Larson Financial Group LLC Sold out -9,969-10.0k
Mariner, LLC Sold out -9,124-9.1k

Biggest calls

SIMPLEX TRADING, LLC Added $140.0k6.2k shares
CITADEL ADVISORS LLC Added $133.9k5.9k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Added $535.7k23.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $401.8k17.7k shares
SIMPLEX TRADING, LLC Added $45.0k2.0k 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 Q2 2024

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
101Q3 22: 1 buyingQ3 22: 0 sellingQ4 22: 0 buyingQ4 22: 0 sellingQ4 22Q1 23: 0 buyingQ1 23: 0 sellingQ2 23: 1 buyingQ2 23: 0 sellingQ2 23Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20221$29.4k0——
Q4 20220—0——
Q1 20230—0——
Q2 20231$47.6k0——
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——

None reported in Q2 2024.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 160,600160.6k $3.6m $3.6m 0.01% Added +7.9k +7,900
2 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 130,322130.3k $3.0m $3.0m 0.01% Reduced -23.6k -23,620
3 Private Advisor Group, LLC 0.02% of their portfolio MORRISTOWN, NJ 129,550129.6k $2.9m $2.9m 0.02% Added +3.4k +3,417
4 Hennion & Walsh Asset Management, Inc. 0.14% of their portfolio Parsippany, NJ 120,806120.8k $2.7m $2.7m 0.14% Reduced -4.6k -4,567
5 Advisors Asset Management, Inc. 0.05% of their portfolio Monument, CO 115,029115.0k $2.6m $2.6m 0.05% Reduced -11.1k -11,136
6 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 111,599111.6k $2.5m $2.5m 0.00% Added +5.3k +5,298
7 Legal & General Group Plc 0.00% of their portfolio London, X0 111,469111.5k $2.5m $2.5m 0.00% Added +10.6k +10,625
8 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 99,29299.3k $2.3m $2.3m 0.00% Reduced -104 -104
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 97,75097.8k $2.2m $2.2m 0.00% Reduced -70.2k -70,178
10 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 89,10489.1k $2.0m $2.0m 0.00% Added +10.3k +10,269
11 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 70,61770.6k $1.6m $1.6m 0.01% Unchanged
12 TMD Wealth Management, LLC 0.34% of their portfolio SCOTTSDALE, AZ 67,73067.7k $1.5m $1.5m 0.34% Reduced -497 -497
13 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 62,07962.1k $1.4m $1.4m 0.00% Added +3.1k +3,097
14 BI Asset Management Fondsmaeglerselskab A/S 0.02% of their portfolio KOBENHAVN, G7 48,69748.7k $1.1m $1.1m 0.02% New
15 Palogic Value Management, L.P. 0.46% of their portfolio DALLAS, TX 47,68047.7k $1.1m $1.1m 0.46% Unchanged
16 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 46,10746.1k $1.0m $1.0m 0.00% Added +9.1k +9,075
17 VIRTUS ADVISERS, LLC 0.47% of their portfolio HARTFORD, CT 41,85341.9k $950.1k $950.1k 0.47% Added +14.0k +13,952
18 JB CAPITAL PARTNERS LP 0.17% of their portfolio Armonk, NY 33,84733.8k $768.3k $768.3k 0.17% Unchanged
19 Next Level Private LLC 0.34% of their portfolio HARRISON, NY 32,53532.5k $738.5k $738.5k 0.34% Added +1.1k +1,059
20 Wealthcare Advisory Partners LLC 0.02% of their portfolio WEST CHESTER, PA 30,65430.7k $695.9k $695.9k 0.02% Added +52 +52
21 Curi Capital, LLC 0.02% of their portfolio CHICAGO, IL 30,00030.0k $681.0k $681.0k 0.02% Added +5.0k +5,000
22 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 29,85829.9k $677.8k $677.8k 0.00% Unchanged
23 D.A. DAVIDSON & CO. 0.01% of their portfolio GREAT FALLS, MT 27,73627.7k $629.6k $629.6k 0.01% Added +664 +664
24 Campbell & CO Investment Adviser LLC 0.05% of their portfolio BALTIMORE, MD 27,51327.5k $624.5k $624.5k 0.05% Added +883 +883
25 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 24,07724.1k $546.0k $546.0k 0.00% Reduced -2.2k -2,249
26 PFG Advisors 0.03% of their portfolio Phoenix, AZ 22,44922.4k $509.6k $509.6k 0.03% Reduced -746 -746
27 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 22,22422.2k $505.0k $505.0k 0.00% Added +1.7k +1,677
28 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 20,76120.8k $471.0k $471.0k 0.00% Reduced -2.1k -2,082
29 MCDONALD PARTNERS LLC 0.12% of their portfolio CLEVELAND, OH 20,27520.3k $460.3k $460.3k 0.12% Unchanged
30 BARD ASSOCIATES INC 0.14% of their portfolio CHICAGO, IL 15,94515.9k $362.0k $362.0k 0.14% Unchanged
31 Trexquant Investment LP 0.00% of their portfolio STAMFORD, CT 11,80311.8k $267.9k $267.9k 0.00% New
32 Alpine Global Management, LLC 0.05% of their portfolio NEW YORK, NY 11,50411.5k $261.1k $261.1k 0.05% Reduced -51.1k -51,094
33 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 11,49111.5k $260.8k $260.8k 0.00% Added +98 +98
34 DAVIDSON TRUST CO 0.17% of their portfolio SEATTLE, WA 11,00011.0k $249.7k $249.7k 0.17% Unchanged
35 Atria Wealth Solutions, Inc. 0.00% of their portfolio NEW YORK, NY 9,95510.0k $226.0k $226.0k 0.00% Reduced -1.2k -1,200
36 WEDBUSH SECURITIES INC 0.01% of their portfolio PASADENA, CA 9,9009.9k $225.0k $225.0k 0.01% Added +1.1k +1,075
37 B. Riley Wealth Advisors, Inc. 0.01% of their portfolio MEMPHIS, TN 9,8859.9k $224.7k $224.7k 0.01% Added +770 +770
38 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 6,8996.9k $156.6k $156.6k 0.00% Reduced -58.8k -58,847
39 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 6,6036.6k $149.9k $149.9k 0.00% Reduced -656 -656
40 Register Financial Advisors LLC 0.07% of their portfolio ATLANTA, GA 5,8505.8k $132.8k $132.8k 0.07% Added +18 +18
41 Aquatic Capital Management LLC 0.00% of their portfolio CHICAGO, IL 5,1005.1k $115.8k $115.8k 0.00% Added +2.4k +2,400
42 Sunbelt Securities, Inc. 0.01% of their portfolio HOUSTON, TX 5,0825.1k $115.4k $115.4k 0.01% Unchanged
43 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio ORLANDO, FL 4,7394.7k $107.6k $107.6k 0.01% New
44 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 3,9644.0k $90.0k $90.0k 0.00% Reduced -1.0k -1,000
45 Quantbot Technologies LP 0.00% of their portfolio NEW YORK, NY 2,7902.8k $63.3k $63.3k 0.00% Added +2 +2
46 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1,5001.5k $34.0k $34.0k 0.00% Unchanged
47 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1,0001.0k $22.7k $22.7k 0.00% Unchanged
48 Arlington Trust Co LLC 0.01% of their portfolio BIRMINGHAM, AL 1,0001.0k $22.7k $22.7k 0.01% New
49 UBS Group AG 0.00% of their portfolio ZURICH, V8 923923 $21.0k $21.0k 0.00% Reduced -1.9k -1,863
50 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 700700 $15.9k $15.9k 0.00% Unchanged
51 PFS Partners, LLC 0.01% of their portfolio MINE HILL, NJ 503503 $11.4k $11.4k 0.01% Unchanged
52 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 500500 $11.3k $11.3k 0.00% Reduced -100 -100
53 BARTLETT & CO. WEALTH MANAGEMENT LLC 0.00% of their portfolio CINCINNATI, OH 500500 $11.3k $11.3k 0.00% Unchanged
54 Laurel Wealth Advisors LLC 0.00% of their portfolio CHARLOTTE, NC 241241 $5.5k $5.5k 0.00% Unchanged
55 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 222222 $5.0k $5.0k 0.00% Unchanged
56 Financial Management Professionals, Inc. 0.00% of their portfolio AUSTIN, TX 181181 $4.0k $4.0k 0.00% Unchanged
57 FMR LLC 0.00% of their portfolio BOSTON, MA 11 $23 $23 0.00% New
58 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 11 $23 $23 0.00% New
59 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged