A closed-end investment company (likely a business development company) that invests primarily in debt and equity securities and earns interest and investment income; reports total assets of about $1.139B and net asset value per share of $24.42 for 2026.

# Company

The excerpt you provided is the Part I table of contents from an annual report (likely a Form 10‑K). Below is a clear, organized summary of the sections shown and a brief set of next steps.

Included in the excerpt
- PART I Item 1 1A. Risk Factors  
  - Note: A forward-looking statements disclaimer is included and applies as of the report date.
- Item 1: Business
- Item 25 1A. Risk Factors
- Item 59 1B. Unresolved Staff Comments
- Item 59 1C. Cybersecurity
- Item 59 2. Properties
- Item 59 3. Legal Proceedings
- Item 59 4. Mine Safety Disclosures

If you provide more content
- Paste the full Item 1 (Business) section or the financial statements (income statement, balance sheet, cash flow). With that material I will produce a detailed markdown summary that includes:
  - Core business description and products/services
  - Key markets and segments
  - Operational footprint (customers, employees, locations)
  - Financial highlights (revenue, operating income, net income, margins)
  - Growth drivers and risk context as described in the filing

Next steps
- Share the Business section (Item 1) or the financial statements and I will prepare a precise, business‑focused markdown summary based on the document.

Saratoga Investment Corp. is a specialty finance company, regulated as a Business Development Company, providing customized middle-market financing solutions in the U.S.

# Saratoga Investment Corp. - Company Summary

## Business Description
- **Type:** Specialty finance company, regulated as a Business Development Company (BDC).
- **Location:** Headquarters at 535 Madison Avenue, New York, NY.
- **Management:** Externally managed by Saratoga Investment Advisors, LLC, an affiliated investment advisory firm.
- **Operations Start Date:** March 23, 2007 (initially as GSC Investment Corp.).

## Core Business Activities
- **Investment Focus:** Provides customized financing solutions to U.S. middle-market businesses.
- **Investment Objective:** Generate attractive risk-adjusted returns through current income and long-term capital appreciation.
- **Primary Investment Types:**
  - Senior and unitranche leveraged loans.
  - Mezzanine debt.
  - Equity securities (preferred or common).
- **Target Companies:** Private U.S. middle-market firms with EBITDA between $2 million and $50 million.
  
## Investment Strategies
- **Use of Leverage:** Employs borrowings to finance investments, with total assets of approximately $1,191.5 million as of February 28, 2025.
- **Portfolio Composition (as of Feb 28, 2025):**
  - 88.7% in first lien term loans.
  - 0.7% in second lien term loans.
  - 1.7% unsecured loans.
  - 1.5% structured finance securities.
  - 7.4% in equity interests.
- **Investment Vehicles:**
  - Direct lending through senior loans and mezzanine debt.
  - Equity investments in portfolio companies (including preferred equity).
  - Opportunistic investments (distressed debt, private equity, non-traded securities, structured finance, international debt).
  - Investments via collateralized loan obligation (CLO) funds; e.g., Saratoga CLO, with a first-loss position.

## Portfolio & Assets (as of Feb 28, 2025)
- **Number of Portfolio Companies:** 48 (excluding specific CLO and fund investments).
- **Assets:** $1,191.5 million.
- **Investments include:**
  - 88.7% in senior secured first lien loans.
  - Investments in structured finance and equity interests.
  - Investments in CLOs and joint ventures.

## Financial Performance
- **Weighted Average Yield:** Approximately 10.8% on investments.
- **Total returns:**
  - 27.17% (market value basis) for fiscal ending Feb 28, 2025.
  - 10.11% (NAV basis) for fiscal ending Feb 28, 2025.
  - Previous year (ending Feb 29, 2024): Market return of -3.92%, NAV return of 4.20%.

## Customers & Portfolio Companies
- **Number of Portfolio Companies:** 48 middle-market firms.
- **Customer Base:** U.S. middle-market businesses, primarily in industries such as banking, finance, insurance, real estate, and business services.

## Employees & Management
- **Number of Employees:** None directly employed; all services provided by Saratoga Investment Advisors' staff.
- **Management Team of Investment Adviser:** Four principals with 28-38 years of leveraged finance experience.
- **Ownership:** Saratoga Investment Corp. is a non-diversified closed-end management investment company, primarily funded through equity and debt offerings.

## Revenue & Income
- **Interest Income:** Approximately $1.8 million earned from investments in joint ventures like SLF JV for the year ended Feb 28, 2025.
- **Distribution Policy:** Pays quarterly dividends; also offers a dividend reinvestment plan (DRIP).
- **Total Assets (as of Feb 28, 2025):** $1,191.5 million.

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**Note:** The data provided is based solely on the company's filing as of the fiscal year ending February 28, 2025, and includes specific figures on assets, investments, and performance; it does not include projected or hypothetical data.

The company is a specialty finance firm providing tailored financing solutions to U.S. middle-market businesses, managed by Saratoga Investment Advisors, LLC.

Could you provide the company name to use as the title (h1) for the rewritten summary?

SARATOGA INVESTMENT CORP.

10-K / May 5, 2026

10-K / May 7, 2025

10-K / May 6, 2024

10-K / May 5, 2026

Company