Saratoga Investment Corp.
US ˙ NYSE ˙ US80349A2087

SecuritySAR / Saratoga Investment Corp.
InstitutionUBS Group AG
Latest Disclosed Ownership27,280 shares
Latest Disclosed Value $ 596,613
UBS Group AG reports 109.46% increase in ownership of SAR / Saratoga Investment Corp.

On May 5, 2026 - UBS Group AG filed a 13F-HR form disclosing ownership of 27,280 shares of Saratoga Investment Corp. (US:SAR) valued at $596,614 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 29, 2026 disclosing 13,024 shares of Saratoga Investment Corp.. This represents a change in shares of 109.46% during the quarter. The current value of the position is $611,345 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-05 2026-03-31 13F SARATOGA INVT COM NEW 80349A208 27,280 14,256 109.46 597 98.67 0.0000
2026-01-29 2025-12-31 13F SARATOGA INVT COM NEW 80349A208 13,024 12,064 1,256.67 300 1,204.35 0.0000
2025-11-13 2025-09-30 13F SARATOGA INVT COM NEW 80349A208 960 -13,228 -93.23 23 -93.45 0.0000
2025-08-14 2025-06-30 13F SARATOGA INVT COM NEW 80349A208 14,188 13,212 1,353.69 352 1,362.50 0.0001
2025-05-13 2025-03-31 13F SARATOGA INVT COM NEW 80349A208 976 22 2.31 25 9.09 0.0000
2025-02-14 2024-12-31 13F SARATOGA INVT COM NEW 80349A208 954 33 3.58 23 4.76 0.0000
2024-11-14 2024-09-30 13F SARATOGA INVT COM NEW 80349A208 921 -2 -0.22 21 5.00 0.0000
2024-08-14 2024-06-30 13F SARATOGA INVT COM NEW 80349A208 923 -1,863 -66.87 21 -68.75 0.0000
2024-05-13 2024-03-31 13F SARATOGA INVT COM NEW 80349A208 2,786 1,431 105.61 65 82.86 0.0000
2024-02-09 2023-12-31 13F SARATOGA INVT COM NEW 80349A208 1,355 -2,797 -67.37 35 -66.98 0.0000
2023-11-09 2023-09-30 13F SARATOGA INVT COM NEW 80349A208 4,152 1,513 57.33 107 49.30 0.0000
2023-08-11 2023-06-30 13F SARATOGA INVT COM NEW 80349A208 2,639 1,510 133.75 71 153.57 0.0000
2023-05-12 2023-03-31 13F SARATOGA INVT COM NEW 80349A208 1,129 -399 -26.11 29 -26.32 0.0000
2023-02-08 2022-12-31 13F SARATOGA INVT COM NEW 80349A208 1,528 -2,667 -63.58 39 -56.32 0.0000
2022-11-10 2022-09-30 13F SARATOGA INVT COM NEW 80349A208 4,195 -777 -15.63 87 -27.50 0.0000
2022-08-10 2022-06-30 13F SARATOGA INVT COM NEW 80349A208 4,972 -838 -14.42 120 -24.05 0.0000
2022-05-16 2022-03-31 13F SARATOGA INVT COM NEW 80349A208 5,810 1,783 44.28 158 33.90 0.0001
2022-02-14 2021-12-31 13F SARATOGA INVT COM NEW 80349A208 4,027 150 3.87 118 6.31 0.0000
2021-11-15 2021-09-30 13F SARATOGA INVT COM NEW 80349A208 3,877 -13,644 -77.87 111 -76.38 0.0000
2021-08-13 2021-06-30 13F SARATOGA INVT COM NEW 80349A208 17,521 5,480 45.51 470 54.10 0.0002
2021-05-12 2021-03-31 13F SARATOGA INVT COM NEW 80349A208 12,041 -379 -3.05 305 17.76 0.0001
2021-02-11 2020-12-31 13F SARATOGA INVT COM NEW 80349A208 12,420 -9,826 -44.17 259 -30.56 0.0001
2020-11-12 2020-09-30 13F SARATOGA INVT COM NEW 80349A208 22,246 -6,429 -22.42 373 -17.66 0.0001
2020-07-31 2020-06-30 13F SARATOGA INVT COM NEW 80349A208 28,675 150 0.53 453 38.11 0.0002
2020-05-01 2020-03-31 13F SARATOGA INVT COM NEW 80349A208 28,525 -108,236 -79.14 328 -90.39 0.0002
2020-02-14 2019-12-31 13F SARATOGA INVT COM NEW 80349A208 136,761 17,206 14.39 3,412 15.47 0.0012
2019-11-14 2019-09-30 13F SARATOGA INVT COM NEW 80349A208 119,555 17,505 17.15 2,955 17.26 0.0011
2019-08-14 2019-06-30 13F SARATOGA INVT COM NEW 80349A208 102,050 97,592 2,189.14 2,520 2,445.45 0.0010
2019-05-14 2019-03-31 13F SARATOGA INVT COM NEW 80349A208 4,458 1,009 29.25 99 43.48 0.0000
2019-02-14 2018-12-31 13F SARATOGA INVT COM NEW 80349A208 3,449 245 7.65 69 -6.76 0.0000
2018-11-14 2018-09-30 13F SARATOGA INVT COM NEW 80349A208 3,204 2,404 300.50 74 236.36 0.0000
2018-08-14 2018-06-30 13F SARATOGA INVT COM NEW 80349A208 800 -306 -27.67 22 -4.35 0.0000
2018-05-15 2018-03-31 13F SARATOGA INVT COM NEW 80349A208 1,106 -6,241 -84.95 23 -86.06 0.0000
2018-02-14 2017-12-31 13F SARATOGA INVT COM NEW 80349A208 7,347 1,149 18.54 165 23.13 0.0001
2017-11-14 2017-09-30 13F SARATOGA INVT COM NEW 80349A208 6,198 -1,183 -16.03 134 -12.99 0.0001
2017-11-14 2017-06-30 13F/A-1 SARATOGA INVT COM NEW 80349A208 7,381 485 7.03 154 2.67 0.0001
2017-08-14 2017-06-30 13F SARATOGA INVT COM NEW 80349A208 7,381 485 154
2017-11-14 2017-03-31 13F/A-1 SARATOGA INVT COM NEW 80349A208 6,896 1,078 18.53 150 25.00 0.0001
2017-05-12 2017-03-31 13F SARATOGA INVT COM NEW 80349A208 6,896 1,078 150
2017-02-14 2016-12-31 13F SARATOGA INVT COM NEW 80349A208 5,818 -935 -13.85 120 -0.83 0.0001
2016-11-14 2016-09-30 13F SARATOGA INVT COM NEW 80349A208 6,753 6,435 2,023.58 121 2,320.00 0.0001
2016-08-12 2016-06-30 13F SARATOGA INVT COM NEW 80349A208 318 0 0.00 5 0.00 0.0000
2016-05-12 2016-03-31 13F SARATOGA INVT COM NEW 80349A208 318 -1,058 -76.89 5 -76.19 0.0000
2016-02-16 2015-12-31 13F SARATOGA INVT COM NEW 80349A208 1,376 1,376 21 0.0000
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.