Ranked by reported Q4 2025 13F market value
Share of total reported institutional value in SAJ held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Karpus Management, Inc. | 29K | $744K | — | 0.181% | 0.15% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in SAJ — a direct measure of their conviction.
Filings activity in SAJ during Q4 2025, grouped by how each filer changed its position.
Institutions that fully closed their SAJ position in Q4 2025
No institutional exits this quarter.
1 quarter of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q4 2025 | 1 | — | 0.18% | — | $1M | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying SAJ stock.
Based on Q4 2025 13F filings, institutional ownership of Saratoga Investment Corp 8.00% stands at 0.2%, held across 1 reporting institutions.
Karpus Management, Inc. is the largest reported institutional holder of SAJ, with approximately 29,225 shares worth $0.00B as of Q4 2025.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of SAJ.
Our composite Smart Money Score for SAJ is 52 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
1 institutions opened new positions in SAJ during Q4 2025, while 0 fully exited. 0 added to existing positions and 0 trimmed.
Quarter-over-quarter ownership change for SAJ is not yet available — at least two quarters of 13F data are required.
The top 10 institutions account for 100.0% of all reported 13F value in SAJ, and the top 25 account for 100.0%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Saratoga Investment Corp 8.00% (SAJ) Institutional Ownership