Saratoga Investment (SAR)

• Market cap: $337M
• 1 day: -0.24%
• 5 days: 2.51%
• 1 month: -3.28%
• 3 months: -0.93%
• 6 months: 3.42%
• Year to date: 1.07%
• 1 year: 3.55%
• 5 years: 53.89%
• 10 years: 45.92%
• Sector: Financials
• Industry: Asset Management

About: Saratoga Investment Corp is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Its objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments.

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

220% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 5

18% more funds holding

Funds holding: 57 [Q3] → 67 (+10) [Q4]

14% more capital invested

Capital invested by funds: $46.5M [Q3] → $52.9M (+$6.37M) [Q4]

14% more call options, than puts

Call options by funds: $758K | Put options by funds: $667K

0.61% more ownership

Funds ownership: 15.41% [Q3] → 16.02% (+0.61%) [Q4]

6% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 16