SARATOGA INVESTMENT CORP. (SAJ) — Institutional Holders, Q2 2026
59 institutional investment managers reported a SAJ position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $41.7M. Every filer is listed below, ranked by position value. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.
SAJ in Q2 2026: what funds did
Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.
Biggest buyers
- Janney Montgomery ScottAdded · +45,901 sh+$1.0M
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENTAdded · +33,605 sh+$749.7K
- CITADEL ADVISORSAdded · +27,204 sh+$606.9K
- Legal & General Group PlcAdded · +18,288 sh+$408.0K
- Advisors Asset ManagementAdded · +15,010 sh+$334.9K
Biggest sellers
- TWO SIGMA INVESTMENTSTrimmed · -37,327 sh-$832.8K
- BI Asset Management Fondsmaeglerselskab A/STrimmed · -22,043 sh-$491.8K
- PFG AdvisorsSold out · -21,704 sh-$484.2K
- HRT FINANCIALSold out · -21,519 sh-$480.1K
- UBS Group AGTrimmed · -20,615 sh-$459.9K
SAJ 13F holders ranked 1–59 of 59
| # | Institution | Shares | Value | % of portfolio | QoQShares vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | Lido Advisors#1 · 181,518 sh | 181,518 | $4.0M | 0.01% | -8.8% |
| 2 | Private Advisor Group#2 · 146,681 sh | 146,681 | $3.3M | 0.01% | -11.2% |
| 3 | Legal & General Group Plc#3 · 141,229 sh | 141,229 | $3.2M | <0.01% | +14.9% |
| 4 | Hennion & Walsh Asset Management#4 · 127,040 sh | 127,040 | $2.8M | — | -7.7% |
| 5 | Advisors Asset Management#5 · 121,635 sh | 121,635 | $2.7M | 0.04% | +14.1% |
| 6 | INTERNATIONAL ASSETS INVESTMENT MANAGEMENT#6 · 116,012 sh | 116,012 | $2.6M | 0.16% | +40.8% |
| 7 | LPL Financial#7 · 111,909 sh | 111,909 | $2.5M | <0.01% | -1.8% |
| 8 | WELLS FARGO & COMPANY#8 · 85,079 sh | 85,079 | $1.9M | <0.01% | -0.2% |
| 9 | Ethos Financial Group#9 · 56,533 sh | 56,533 | $1.3M | 0.08% | +7.0% |
| 10 | Janney Montgomery Scott#10 · 56,157 sh | 56,157 | $1.3M | <0.01% | +447.6% |
| 11 | BlackRock#11 · 53,261 sh | 53,261 | $1.2M | 0.00% | -2.4% |
| 12 | CITADEL ADVISORS#12 · 50,507 sh | 50,507 | $1.1M | <0.01% | +116.7% |
| 13 | RAYMOND JAMES FINANCIAL#13 · 49,143 sh | 49,143 | $1.1M | <0.01% | +1.4% |
| 14 | Wealthcare Advisory Partners#14 · 49,141 sh | 49,141 | $1.1M | — | -2.8% |
| 15 | Palogic Value Management, L.P.#15 · 46,680 sh | 46,680 | $1.0M | 0.34% | 0.0% |
| 16 | Next Level Private#16 · 43,527 sh | 43,527 | $971.1K | — | 0.0% |
| 17 | MORGAN STANLEY#17 · 41,713 sh | 41,713 | $930.6K | 0.00% | +47.5% |
| 18 | JB CAPITAL PARTNERS#18 · 33,847 sh | 33,847 | $737.2K | 0.11% | 0.0% |
| 19 | Focus Partners Wealth#19 · 31,441 sh | 31,441 | $701.4K | <0.01% | +13.5% |
| 20 | Focus Financial Network#20 · 25,218 sh | 25,218 | $562.6K | — | +19.1% |
| 21 | XTX Topco Ltd#21 · 24,939 sh | 24,939 | $556.4K | <0.01% | +147.4% |
| 22 | Cambridge Investment Research Advisors#22 · 23,199 sh | 23,199 | $518.0K | <0.01% | -3.2% |
| 23 | Cetera Investment Advisers#23 · 23,001 sh | 23,001 | $513.1K | <0.01% | +3.1% |
| 24 | OSAIC#24 · 22,747 sh | 22,747 | $507.5K | <0.01% | +0.2% |
| 25 | GREENWOOD GEARHART#25 · 21,500 sh | 21,500 | $479.7K | 0.02% | +20.8% |
| 26 | Virtus Investment Advisers#26 · 20,757 sh | 20,757 | $463.1K | 0.11% | -19.4% |
| 27 | ROYAL BANK OF CANADA#27 · 19,238 sh | 19,238 | $429.0K | <0.01% | +7.2% |
| 28 | TWO SIGMA INVESTMENTS#28 · 17,419 sh | 17,419 | $388.6K | <0.01% | -68.2% |
| 29 | D.A. DAVIDSON#29 · 14,895 sh | 14,895 | $332.3K | <0.01% | -18.6% |
| 30 | AMERIPRISE FINANCIAL#30 · 14,782 sh | 14,782 | $329.8K | <0.01% | -18.5% |
| 31 | COMMONWEALTH EQUITY SERVICES#31 · 11,122 sh | 11,122 | $248.1K | <0.01% | -35.3% |
| 32 | DAVIDSON#32 · 11,000 sh | 11,000 | $245.4K | — | 0.0% |
| 33 | WEDBUSH SECURITIES#33 · 10,200 sh | 10,200 | $228.0K | — | -4.7% |
| 34 | Steward Partners Investment Advisory#34 · 9,851 sh | 9,851 | $219.8K | <0.01% | +31.8% |
| 35 | VestGen Advisors#35 · 9,719 sh | 9,719 | $216.8K | — | -49.5% |
| 36 | BANK OF AMERICA#36 · 9,580 sh | 9,580 | $213.7K | 0.00% | -61.7% |
| 37 | JPMORGAN CHASE#37 · 6,929 sh | 6,929 | $154.3K | 0.00% | -1.3% |
| 38 | UBS Group AG#38 · 6,665 sh | 6,665 | $148.7K | 0.00% | -75.6% |
| 39 | Register Financial Advisors#39 · 6,027 sh | 6,027 | $134.5K | — | +0.4% |
| 40 | BI Asset Management Fondsmaeglerselskab A/S#40 · 4,984 sh | 4,984 | $111.0K | — | -81.6% |
| 41 | Triumph Capital Management#41 · 2,950 sh | 2,950 | $65.8K | — | +66.2% |
| 42 | Aquatic Capital Management#42 · 1,014 sh | 1,014 | $22.6K | <0.01% | -82.3% |
| 43 | IFP Advisors#43 · 1,000 sh | 1,000 | $22.3K | — | 0.0% |
| 44 | IFG Advisory#44 · 1,000 sh | 1,000 | $22.3K | <0.01% | New |
| 45 | Integrated Wealth Concepts#45 · 965 sh | 965 | $21.5K | <0.01% | New |
| 46 | BNP PARIBAS FINANCIAL MARKETS#46 · 809 sh | 809 | $18.0K | 0.00% | +18.3% |
| 47 | EVOLUTION WEALTH MANAGEMENT#47 · 701 sh | 701 | $15.6K | <0.01% | 0.0% |
| 48 | State of Alaska, Department of Revenue#48 · 630 sh | 630 | $14.0K | — | 0.0% |
| 49 | PFS Partners#49 · 503 sh | 503 | $11.2K | — | 0.0% |
| 50 | Russell Investments Group, Ltd.#50 · 285 sh | 285 | $6.4K | 0.00% | -13.1% |
| 51 | Avion Wealth#51 · 218 sh | 218 | $4.0K | <0.01% | +3.3% |
| 52 | NewEdge Advisors#52 · 100 sh | 100 | $2.2K | 0.00% | New |
| 53 | Strategic Investment Solutions#53 · 100 sh | 100 | $2.2K | <0.01% | 0.0% |
| 54 | MJT & Associates Financial Advisory Group#54 · 94 sh | 94 | $2.1K | — | 0.0% |
| 55 | West Financial Advisors#55 · 57 sh | 57 | $1.3K | — | +1.8% |
| 56 | Larson Financial Group#56 · 49 sh | 49 | $1.1K | 0.00% | 0.0% |
| 57 | Quarry#57 · 20 sh | 20 | $446.00 | 0.00% | New |
| 58 | Hurley Capital#58 · 15 sh | 15 | $344.00 | <0.01% | 0.0% |
| 59 | Frazier Financial Advisors#59 · 10 sh | 10 | $224.00 | <0.01% | New |
Funds that sold out of SAJ in Q2 2026 (9)
Held SAJ at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.
| Institution | Shares sold | Value in Q1 2026 |
|---|---|---|
| PFG Advisors21,704 sh | 21,704 | $474.7K |
| HRT FINANCIAL21,519 sh | 21,519 | $470.0K |
| HighTower Advisors10,221 sh | 10,221 | $223.5K |
| Western Wealth Management3,195 sh | 3,195 | $69.9K |
| Daytona Street Capital1,999 sh | 1,999 | $50.4K |
| Wilmington Savings Fund Society, FSB500 sh | 500 | $10.9K |
| Advisory Services Network241 sh | 241 | $5.3K |
| Fortitude Family Office140 sh | 140 | $3.1K |
| MAI Capital Management125 sh | 125 | $2.7K |
Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.