---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-075941"
form_type: "8-K"
ticker: "SAR"
cik: "0001377936"
company_name: "SARATOGA INVESTMENT CORP."
filed_at: "2026-07-07T20:05:37+00:00"
generated_at: "2026-07-07T20:07:04.305819+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Saratoga Investment Q1 FY2027: NAV per share down 4.9% to $23.23; EPS loss of $0.42

## Summary
- Adjusted NII per share $0.47 vs $0.53 prior quarter; total investment income $30.8M, down 4.8% YoY.
- AUM grew 1.6% to $1.126B; net originations $31M from $79.2M in new investments in two new portfolio companies.
- Non-accruals at 0.0% of fair value; core BDC portfolio fair value 0.2% below cost; Pepper Palace written down to zero.
- Quarter-end cash $60.8M; issued $25M 7.25% notes due 2029; total undrawn borrowing capacity $196.8M.
- Base quarterly dividend maintained at $0.75/share; LTM ROE 4.0% vs BDC industry average 2.4%.

## SEC filing metadata
- accession: 0001213900-26-075941
- form_type: 8-K
- ticker: SAR
- cik: 0001377936
- company_name: SARATOGA INVESTMENT CORP.
- filed_at: 2026-07-07T20:05:37+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1377936/000121390026075941/0001213900-26-075941-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1377936/000121390026075941/ea0297275-8k_saratoga.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-075941
- JSON: https://secwatch.observer/filing/0001213900-26-075941.json
- Plain text: https://secwatch.observer/filing/0001213900-26-075941.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.