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sat:VanguardTotalInternationalStockIndexFundAdmiralClassMember 2026-02-28 0000924628 sat:C000196885Member sat:VanguardShortTermBondIndexFundAdmiralClassMember 2026-02-28 iso4217:USD pure sat:Integer false SARATOGA ADVANTAGE TRUST N-1A N-CSRS 0000924628 2026-02-28 SLVYX Class A This <span id="xdx_90E_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030171Member_zdwVIgFuCIJ3"><span id="xdx_907_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228_zCaDFDDaWcN4">semi-annual shareholder report</span></span> contains important information about the Saratoga Large Capitalization Value Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_807_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030171Member_zAQLojweyg2h" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_900_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030171Member_z5NKd48qNS68">Saratoga Large Capitalization Value Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_906_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030171Member_zIg7rKFokz52">97</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030171Member_zfQp0fWwtlQ2">1.93%</span> (annualized)</span></td></tr> </table> Saratoga Large Capitalization Value Fund 97 0.0193 <p id="xdx_802_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030171Member_zuC6i7B3e3u3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030171Member_z0u7XmasWL2f">18,049,555</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030171Member_zlCTa0pAL98d">41%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030171Member_zkU46w9KyRyi">23</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 18049555 0.41 23 <p id="xdx_800_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030171Member_z4027xGsvhOg" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)? </b></span></p> <div style="float: left; width: 48%"> <img alt="" src="slvyx_001.jpg" style="height: 291px; width: 370px"/></div> 0.000 0.151 0.057 0.066 0.294 0.065 0.000 0.087 0.120 0.109 0.051 <div id="xdx_806_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030171Member_z2DjQultqsI6" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Henry Schein, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--HenryScheinIncMember_zgxv4v8hMwc7">7.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%">Dreyfus Inst Prefer Govt Money Mkt Inst Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_z4ZAZdzNrell">7.20</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">AMETEK, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--AMETEKIncMember_zdrZseMBPvP2">6.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Williams Companies, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--WilliamsCompaniesIncMember_zpcZc26dXGZd">6.10</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Clean Harbors, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--CleanHarborsIncMember_zEFFin8RvPf8">5.60</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Primo Brands Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--PrimoBrandsCorpMember_zq4gDqkErtM1">5.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">API Group Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--APiGroupCorpMember_zfABmW8X33Uc">5.10</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Quest Diagnostics, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--QuestDiagnosticsIncMember_zC2ZxVVFvekg">4.80</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Martin Marietta Materials, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--MartinMariettaMaterialsIncMember_zHWnwhLWRvB8">4.70</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Capital One Financial Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030171Member__oef--LargestHoldingAxis__custom--CapitalOneFinancialCorpMember_zO2Td9Ic5Avf">4.50</span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0730 0.0720 0.0640 0.0610 0.0560 0.0530 0.0510 0.0480 0.0470 0.0450 SLVCX Class C This <span id="xdx_90A_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030174Member_zp3Itl6JM7p">semi-annual shareholder report</span> contains important information about the Saratoga Large Capitalization Value Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_801_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030174Member_zbZSsIwHohU8" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030174Member_z2EWtyND9Ug8">Saratoga Large Capitalization Value Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_907_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030174Member_zrCKKXMWHBz4">127</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90E_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030174Member_zBaoU6MdkgUl">2.53%</span> (annualized)</span></td></tr> </table> Saratoga Large Capitalization Value Fund 127 0.0253 <p id="xdx_803_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030174Member_ziLQyV0Xn5xd" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_903_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030174Member_zWnapx2Ayuza">18,049,555</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030174Member_zeI7sqHpWYfg">41%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030174Member_zsKnkG25wUCk">23</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 18049555 0.41 23 <p id="xdx_801_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030174Member_zOCj5PZjt1xa" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="slvcx_001.jpg" style="height: 291px; width: 370px"/></div> 0.000 0.151 0.057 0.066 0.294 0.065 0.000 0.087 0.120 0.109 0.051 <div id="xdx_80C_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030174Member_zzuxuCbPBem4" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Henry Schein, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--HenryScheinIncMember_zkpx783J7J16">7.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%">Dreyfus Inst Prefer Govt Money Mkt Inst Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zJjc52Jvbdvd">7.20</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">AMETEK, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--AMETEKIncMember_zhQAGVFoA5X2">6.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Williams Companies, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--WilliamsCompaniesIncMember_zY8cPpjQP7y2">6.10</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Clean Harbors, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--CleanHarborsIncMember_znfbyMUmu10f">5.60</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Primo Brands Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--PrimoBrandsCorpMember_zEclgvjmKgrg">5.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">API Group Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--APiGroupCorpMember_zENMcre0F26j">5.10</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Quest Diagnostics, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--QuestDiagnosticsIncMember_z2efGPOOTkD2">4.80</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Martin Marietta Materials, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--MartinMariettaMaterialsIncMember_ztgIBxdiB8nh">4.70</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Capital One Financial Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030174Member__oef--LargestHoldingAxis__custom--CapitalOneFinancialCorpMember_zADf59j1Vy99">4.50</span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0730 0.0720 0.0640 0.0610 0.0560 0.0530 0.0510 0.0480 0.0470 0.0450 SLCVX Class I This <span id="xdx_90C_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030172Member_zDU8sbFfmCVg">semi-annual shareholder report</span> contains important information about the Saratoga Large Capitalization Value Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_805_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030172Member_z3HS7tr9kt09" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030172Member_ziSG5yOQfiw6">Saratoga Large Capitalization Value Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90B_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030172Member_z8ceU3czieZd">77</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030172Member_zSjyP7UQLSqg">1.53%</span> (annualized)</span></td></tr> </table> Saratoga Large Capitalization Value Fund 77 0.0153 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030172Member_z5L0ySOfpXq9" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_901_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030172Member_z8jsatqeTFM2">18,049,555</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030172Member_zQBRmAr8sLej">41%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030172Member_z9lU4JgN7Aki">23</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 18049555 0.41 23 <p id="xdx_80B_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030172Member_z01wbMoMS67j" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="slcvx_001.jpg" style="height: 291px; width: 370px"/></div> 0.000 0.151 0.057 0.066 0.294 0.065 0.000 0.087 0.120 0.109 0.051 <div id="xdx_800_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030172Member_zLCf76zvzei9" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Henry Schein, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--HenryScheinIncMember_zb6lIFyoPx95">7.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%">Dreyfus Inst Prefer Govt Money Mkt Inst Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_z7V07JMPRUG4">7.20</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">AMETEK, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--AMETEKIncMember_zxFKh3dKmFgl">6.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Williams Companies, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--WilliamsCompaniesIncMember_zLC3SWbNrsh7">6.10</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Clean Harbors, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--CleanHarborsIncMember_zfOLm9jFb086">5.60</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Primo Brands Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--PrimoBrandsCorpMember_zejL0w5CBCw3">5.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">API Group Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--APiGroupCorpMember_zrgPsjjucPxf">5.10</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Quest Diagnostics, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--QuestDiagnosticsIncMember_zvBOEhP2caah">4.80</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Martin Marietta Materials, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--MartinMariettaMaterialsIncMember_zN03uqN5QDPc">4.70</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Capital One Financial Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030172Member__oef--LargestHoldingAxis__custom--CapitalOneFinancialCorpMember_zNoPJsgyxuO6">4.50</span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0730 0.0720 0.0640 0.0610 0.0560 0.0530 0.0510 0.0480 0.0470 0.0450 SLGYX Class A This <span id="xdx_90A_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030175Member_zBswO6cJeNJl">semi-annual shareholder report</span> contains important information about the Saratoga Large Capitalization Growth Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_806_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030175Member_zTJ8pnkXcPY1" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90F_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030175Member_zdH6DL5CuErk">Saratoga Large Capitalization Growth Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_906_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030175Member_zIrkswvkzbkf">106</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90D_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030175Member_zpHCqWHXPjRc">2.17%</span> (annualized)</span></td></tr> </table> Saratoga Large Capitalization Growth Fund 106 0.0217 <p id="xdx_809_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030175Member_zbOhFN4ATh0l" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_903_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030175Member_zLIWfU7LkZdc">34,252,179</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030175Member_zaPoaajSJvWa">36%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030175Member_zkYgQeoCdk8j">59</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 34252179 0.36 59 <p id="xdx_80D_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030175Member_zHvOQsamWmG3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="slgyx_001.jpg" style="height: 291px; width: 370px"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center; width: 50%">Utilities</td> <td style="display: none; text-align: center; width: 50%"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zx5MXcsLtxug" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zSKTF5XlF68f" style="display: none">11.3%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_znAGpFdBTa2l" style="display: none">1.4%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--TechnologyMember_zNVwsLjqqIA4" style="display: none">47.8%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zuJtF9ZYLoNl" style="display: none">3.5%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--EnergyMember_z398lfNYmte3" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zBTbdMDDx7Vc" style="display: none">12.6%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_z6M9J5tDDdQc" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_z6luipUzVdnl" style="display: none">8.4%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zNFUO3vUusUj" style="display: none">15.2%</span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zCXb3XVRLk24" style="display: none">0.0%</span></td></tr> </table> </div> 0.000 0.113 0.014 0.478 0.035 0.000 0.126 0.000 0.084 0.152 0.000 <div id="xdx_805_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030175Member_zy9leQhvCyP9" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">NVIDIA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--NVIDIACorpMember_zihrMUdT6nA7">9.40</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Apple, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--AppleIncMember_zB1J8OhnzM33">9.00</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Microsoft Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zJk1qGjx3UWk">4.80</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Broadcom, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--BroadcomIncMember_zU7VPQyovkgi">4.50</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Amazon.com, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zRRdHgkyCxFk">4.00</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Arista Networks, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--AristaNetworksIncMember_zLLzDruj9cke">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Alphabet, Inc Class A</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--AlphabetIncClassAMember_zP8biMOMcDGl">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Alphabet, Inc Class C</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_zu3Hca37Lg91">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Brookings Holdings, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--BrookingHoldingsIncMember_zTAS74D5pd42">2.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Charles Schwab Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030175Member__oef--LargestHoldingAxis__custom--CharlesSchwabCorpMember_zcieFmrTOAgb">2.30</span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0940 0.0900 0.0480 0.0450 0.0400 0.0240 0.0240 0.0240 0.0230 0.0230 SLGCX Class C This <span id="xdx_903_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030178Member_zK51yeXCeX9j">semi-annual shareholder report</span> contains important information about the Saratoga Large Capitalization Growth Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_80C_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030178Member_z3uGua4pH9t6" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030178Member_zXaUXly8nryh">Saratoga Large Capitalization Growth Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90A_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030178Member_zz04nUoNIpof">135</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030178Member_zgbX83Uz1bPj">2.77%</span> (annualized)</span></td></tr> </table> Saratoga Large Capitalization Growth Fund 135 0.0277 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030178Member_zSGeDULngVx" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_902_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030178Member_zX0bPtP7qzWj">34,252,179</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030178Member_z0EVxdEeniC9">36%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030178Member_zrTrz5gNNtX9">59</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 34252179 0.36 59 <p id="xdx_80F_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030178Member_zpl5fkuXPJqi" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="slgcx_001.jpg" style="height: 291px; width: 370px"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center; width: 50%">Utilities</td> <td style="display: none; text-align: center; width: 50%"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zUhZPLLORjej" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zulpsWBxgXa" style="display: none">11.3%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zCQ7lUED0zhg" style="display: none">1.4%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--TechnologyMember_zBm1hew3Fiv1" style="display: none">47.8%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zNAftCpBtqhb" style="display: none">3.5%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--EnergyMember_zEEva6QrLF7f" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zwVEfFIp60lc" style="display: none">12.6%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zAiJsIgfLJIi" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zsxDBWr73RCf" style="display: none">8.4%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z3LBuY1h3O0g" style="display: none">15.2%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zasj7NKomI3d" style="display: none">0.0%</span></td></tr> </table> </div> 0.000 0.113 0.014 0.478 0.035 0.000 0.126 0.000 0.084 0.152 0.000 <div id="xdx_80A_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030178Member_zPWxmVZfy9p1" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">NVIDIA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--NVIDIACorpMember_zOy9KQ6pFSe">9.40</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Apple, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--AppleIncMember_zEYt0s51RqRk">9.00</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Microsoft Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zDa0VBEH1ja2">4.80</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Broadcom, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--BroadcomIncMember_zFb2phuSPZqb">4.50</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Amazon.com, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zochiSxHYgc">4.00</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Arista Networks, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--AristaNetworksIncMember_zaarWFY2wauj">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Alphabet, Inc Class A</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--AlphabetIncClassAMember_zTXx0HtJtXFa">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Alphabet, Inc Class C</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_znTZFYeIcryc">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Brookings Holdings, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--BrookingsHoldingsIncMember_zXxovMxu42u">2.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Charles Schwab Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030178Member__oef--LargestHoldingAxis__custom--CharlesSchwabCorpMember_zvRgaWUQz98">2.30</span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0940 0.0900 0.0480 0.0450 0.0400 0.0240 0.0240 0.0240 0.0230 0.0230 SLCGX Class I This <span id="xdx_90D_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030176Member_zBwNv8v3Rn2j">semi-annual shareholder report</span> contains important information about the Saratoga Large Capitalization Growth Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_802_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030176Member_zZ5xooEGSvm9" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_909_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030176Member_zJpDTr8I10zj">Saratoga Large Capitalization Growth Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90A_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030176Member_zJWRlD2O8yOe">87</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030176Member_zkeZoJRdt9D2">1.77%</span> (annualized)</span></td></tr> </table> Saratoga Large Capitalization Growth Fund 87 0.0177 <p id="xdx_80D_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030176Member_zkNXZJiIyUDc" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90E_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030176Member_zsXFw0aVhN9b">34,252,179</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030176Member_zdoos7zXWmMk">36%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030176Member_z3lnkodutkz1">59</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 34252179 0.36 59 <p id="xdx_80D_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030176Member_zA40AU1OxGT7" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="slcgx_001.jpg" style="height: 295px; width: 370px"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center; width: 50%">Utilities</td> <td style="display: none; text-align: center; width: 50%"><span style="display: none"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zzR4lTtyHob5">0.0%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zfjs8G1Wqa4b">11.3%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zmUBN3yvAt93">1.4%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--TechnologyMember_zAHSfgc04IS2">47.8%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zHzSyNU2KDC">3.5%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--EnergyMember_zBFoBWJggolg">0.0%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zEqFjkVoTiLk">12.6%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zD1dJGUhIYs">0.0%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_z3Zb71wYP2Df">8.4%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zYTbUtBNZj6i">15.2%</span></span></td></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span style="display: none"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zNz0e5y6qwKf">0.0%</span></span></td></tr> </table> </div> 0.000 0.113 0.014 0.478 0.035 0.000 0.126 0.000 0.084 0.152 0.000 <div id="xdx_805_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030176Member_zaed5lIIbpI2" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">NVIDIA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--NVIDIACorpMember_zkQMVRf6URG1">9.40</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Apple, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--AppleIncMember_z0kBIkGv3TUj">9.00</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Microsoft Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zlSFkpd0hpZ9">4.80</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Broadcom, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--BroadcomIncMember_zaF4pwb79qRe">4.50</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Amazon.com, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zYCoo8HnIMK3">4.00</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Arista Networks, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--AristaNetworksIncMember_zBuLDcLIssV7">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Alphabet, Inc Class A</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--AlphabetIncClassAMember_zqoueFg9x3J7">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Alphabet, Inc Class C</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_z6hQpJskzFS1">2.40</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Brookings Holdings, Inc</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--BrookingHoldingsIncMember_zrzu96WCem85">2.30</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Charles Schwab Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030176Member__oef--LargestHoldingAxis__custom--CharlesSchwabCorpMember_znkbzIkxlCsg">2.30</span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0940 0.0900 0.0480 0.0450 0.0400 0.0240 0.0240 0.0240 0.0230 0.0230 SPMAX Class A This <span id="xdx_901_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030158Member_zLjtfGWM9Nd5">semi-annual shareholder report</span> contains important information about the Saratoga Mid Capitalization Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_807_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030158Member_zXp1f4edwkCe" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90F_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030158Member_zZRSSarSq9kd">Saratoga Mid Capitalization Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_906_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030158Member_zrxpXtszw6Me">155</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90E_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030158Member_zILQ4cmHu3Sg">3.06%</span> (annualized)</span></td></tr> </table> Saratoga Mid Capitalization Fund 155 0.0306 <p id="xdx_801_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030158Member_zLoV5uNcjfUi" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_904_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030158Member_zCPeXd0GLeXd">11,327,946</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span id="xdx_903_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030158Member_zfi5upXoaZWi">53%</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030158Member_zNyJD6U1OOmj">60</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 11327946 0.53 60 <p id="xdx_80E_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030158Member_zzidYxxfIrm3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="spmax_001.jpg" style="height: 291px; width: 370px"/></div> <div style="float: left; width: 48%"><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center; width: 50%">Utilities</td> <td style="display: none; text-align: center; width: 50%"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zKhMAanottYl" style="display: none">15.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zN9fFNi4PBJj" style="display: none">1.1%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zGyzSp1opiOg" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--TechnologyMember_zX4wPfahNpth" style="display: none">13.3%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zeSkoWQdfF6c" style="display: none">40.9%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--EnergyMember_zpVDqGAUtvre" style="display: none">5.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center"> Communication Services </td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zted1SOlukfk" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zCgGm0WvoXF8" style="display: none">0.6%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zS88xyoQ36A2" style="display: none">4.8%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zardHnUDZMo7" style="display: none">11.8%</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zB5sgjw863F3" style="display: none">7.5%</span></td></tr> </table> </div> 0.150 0.011 0.000 0.133 0.409 0.050 0.000 0.006 0.048 0.118 0.075 <div id="xdx_80A_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030158Member_zzw46ngYq9Pe" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Hubbell, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--HubbellIncMember_zPfQ8Twrnqjc">4.00</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Evergy, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--EvergyIncMember_zCWPv5qaEBYe">3.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">CMS Energy Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--CMSEnergyCorpMember_zRVxK3J5lonb">3.46</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">WEC Energy Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--WECEnergyGroupIncMember_zVBCaLUbULI1">3.43</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Alliant Energy Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--AlliantEnergyCorpMember_zK9xoD2IjkVf">3.42</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zDMPS0GzcTB">3.36</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Monolithic Power Systems, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--MonolithicPowerSystemsIncMember_zeHmdGOtDiZh">3.21</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Burlington Stores, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--BurlingtonStoresIncMember_zWGwTfFPRHLi">2.97</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">TechnipFMC plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--TechnipFMCplcMember_zIZxQc9sVgmk">2.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Curtis-Wright Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030158Member__oef--LargestHoldingAxis__custom--CurtisWrightCorpMember_zwc4Dl6luw">2.78</span></span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0400 0.0350 0.0346 0.0343 0.0342 0.0336 0.0321 0.0297 0.0282 0.0278 SPMCX Class C This <span id="xdx_903_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030157Member_ztrOtrnF949j">semi-annual shareholder report</span> contains important information about the Saratoga Mid Capitalization Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_808_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030157Member_z2q8kr1gYzkh" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_906_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030157Member_zy23fUKUlGH6">Saratoga Mid Capitalization Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_903_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030157Member_zmB80zb5COdd">185</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90B_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030157Member_zyyVyKGBbjZ7">3.66%</span> (annualized)</span></td></tr> </table> Saratoga Mid Capitalization Fund 185 0.0366 <p id="xdx_801_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030157Member_zGpgUWAMPOE5" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90C_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030157Member_zUfC0lIjmtzh">11,327,946</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span id="xdx_903_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030157Member_zS7drhjH57g">53%</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030157Member_zA7il1K7Bksi">60</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 11327946 0.53 60 <p id="xdx_808_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030157Member_zwnrezsJAgkc" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="spmcx_001.jpg" style="height: 291px; width: 370px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zr9xKokLUbo4" style="display: none">15.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zeOHyEGF4Pfg" style="display: none">1.1%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zCcdIEzNcap5" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--TechnologyMember_zWiNB5DRguqe" style="display: none">13.3%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zwgH2Mjoqe21" style="display: none">40.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--EnergyMember_zDuaCsIGKHKd" style="display: none">5.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zie1laBvUHwa" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zRkUzcle7iz1" style="display: none">0.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zwZdqSQL75b" style="display: none">4.8%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z5VhlOJ0ZcA8" style="display: none">11.8%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zlspF1LCuOPl" style="display: none">7.5%</span></td></tr> </table> </div> 0.150 0.011 0.000 0.133 0.409 0.050 0.000 0.006 0.048 0.118 0.075 <div id="xdx_800_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030157Member_zmljuH7sRO03" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Hubbell, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--HubbellIncMember_z0dRWQg0vBH3">4.00</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Evergy, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--EvergyIncMember_zVczcmj71nAi">3.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">CMS Energy Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--CMSEnergyCorpMember_zHzI2fTLIyyg">3.46</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">WEC Energy Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--WECEnergyGroupIncMember_zpKkDXRTbna8">3.43</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Alliant Energy Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--AlliantEnergyCorpMember_z8U75y3K4Pfa">3.42</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zvqT7d8j3x61">3.36</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Monolithic Power Systems, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--MonolithicPowerSystemsIncMember_zz1F7NNNC2b5">3.21</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Burlington Stores, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--BurlingtonStoresIncMember_zEvmMZmEdgJ9">2.97</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">TechnipFMC plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--TechnipFMCplcMember_zx8ahSDF4V57">2.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Curtis-Wright Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030157Member__oef--LargestHoldingAxis__custom--CurtisWrightCorpMember_zTlgp6isFCfj">2.78</span></span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0400 0.0350 0.0346 0.0343 0.0342 0.0336 0.0321 0.0297 0.0282 0.0278 SMIPX Class I This <span id="xdx_901_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030155Member_zPhf37el3wj1">semi-annual shareholder report</span> contains important information about the Saratoga Mid Capitalization Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_801_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030155Member_zxKrVFSXypR8" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_909_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030155Member_zs0MbQoXJIul">Saratoga Mid Capitalization Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_901_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030155Member_zMRh426lqDDi">135</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030155Member_zKxgGqXRpeK5">2.66%</span> (annualized)</span></td></tr> </table> Saratoga Mid Capitalization Fund 135 0.0266 <p id="xdx_803_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030155Member_zxi8X5rq6uR" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90B_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030155Member_zLiXHGIVLivi">11,327,946</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span id="xdx_902_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030155Member_zMPZHeLi7bb8">53%</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030155Member_zP2Nlsawjz9e">60</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 11327946 0.53 60 <p id="xdx_80B_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030155Member_zqO2MsPb3trd" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="smipx_001.jpg" style="height: 291px; width: 370px"/> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--UtilitiesMember_z7JYHYFvZeNb" style="display: none">15.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zN0MyDtXVl5l" style="display: none">1.1%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zCLW16XJdOb2" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--TechnologyMember_zuttiEvRBHkg" style="display: none">13.3%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zPKfzGtbciab" style="display: none">40.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--EnergyMember_zdI3Gl8zyjvb" style="display: none">5.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zxbkNznpDHc" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zkVBiHjhATq1" style="display: none">0.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zvWVDctJp5Z6" style="display: none">4.8%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z1WIYxDt0ly9" style="display: none">11.8%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zZAjbiVLM1Pe" style="display: none">7.5%</span></td></tr> </table> </div> 0.150 0.011 0.000 0.133 0.409 0.050 0.000 0.006 0.048 0.118 0.075 <div id="xdx_808_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030155Member_zSbc73Hwgio9" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Hubbell, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--HubbellIncMember_zjmVZslZx8di">4.00</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Evergy, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--EvergyIncMember_znu5FWr2qUbf">3.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">CMS Energy Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--CMSEnergyCorpMember_z8EKu4zzTGfc">3.46</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">WEC Energy Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--WECEnergyGroupIncMember_zZs1Hy5GWQr9">3.43</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Alliant Energy Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--AlliantEnergyCorpMember_zuXG26DDjrp9">3.42</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zSZcygZZ2bSk">3.36</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Monolithic Power Systems, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--MonolithicPowerSystemsIncMember_z230pXkCFF4g">3.21</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Burlington Stores, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--BurlingtonStoresIncMember_zkvyOt71a9W1">2.97</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">TechnipFMC plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--TechnipFMCplcMember_z9ejN81GEiE3">2.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Curtis-Wright Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030155Member__oef--LargestHoldingAxis__custom--CurtisWrightCorpMember_z1GHC6uKnJ1j">2.78</span></span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0400 0.0350 0.0346 0.0343 0.0342 0.0336 0.0321 0.0297 0.0282 0.0278 SSCYX Class A This <span id="xdx_90E_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030179Member_zyS7SHoTtVrf">semi-annual shareholder report</span> contains important information about the Saratoga Small Capitalization Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_80F_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030179Member_zOXKJCabmyn" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_909_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030179Member_znEuG43bnAUh">Saratoga Small Capitalization Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90C_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030179Member_zrmEt5FOLZ8b">138</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_902_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030179Member_zIp0wyQ2Is06">2.76%</span> (annualized)</span></td></tr> </table> Saratoga Small Capitalization Fund 138 0.0276 <p id="xdx_80B_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030179Member_z6Xr6hINwMo3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_908_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030179Member_zZVGhsANLsv2">7,029,791</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030179Member_z4eG7MAgdQR7">59%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030179Member_z9iEWsqlCH28">102</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 7029791 0.59 102 <p id="xdx_80C_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030179Member_zEBw3l1cJQmc" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"><img alt="" src="sscyx_001.jpg" style="height: 291px; width: 370px"/></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zhdjregrCT41">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zzKG6a9vK1Vd">11.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_z2M5pW94jYg3">3.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--TechnologyMember_zdPRZ8HtfFSa">19.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zFe3pkbCHuL7">24.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--EnergyMember_zmZ5Q6x9iQEc">0.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zrbQkTAxLZyl">1.2%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zYfyAH9YqSsl">4.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zsgh12b27pOd">24.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z6Eo0Xw64Yrl">4.2%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zgiS22geGAE7">5.4%</span></td></tr> </table> </div> 0.000 0.115 0.039 0.195 0.249 0.006 0.012 0.045 0.246 0.042 0.054 <div id="xdx_80F_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030179Member_zXl2SZomGr41" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zwAp0t6oSVxf">3.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Advanced Energy Industries, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--AdvancedEnergyIndustriesIncMember_zl2b3YeQVsAi">1.98</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vestis Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--VestisCorpMember_zKOLaczsOYcg">1.95</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Watts Water Technologies, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--WattsWaterTechnologiesIncMember_zcQUnOQMXQCj">1.94</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Kulicke &amp; Soffa Industries, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--KulickeAndSoffaIndustriesIncMember_zEb8flJjzykg">1.92</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Krystal Biotech, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--KrystalBiotechIncMember_zH0bMRKYbtR9">1.92</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Comfort Systems USA, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--ComfortSystemsUSAIncMember_zVMrUtr8bUbb">1.91</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Allient, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--AllientIncMember_zGbLRO1lcioc">1.83</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Fabrinet</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--FabrinetMember_ztUm0pMdVD0j">1.75</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">EMCOR Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--EMCORGroupIncMember_zPOEJwvnVqfc">1.74</span></span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0386 0.0198 0.0195 0.0194 0.0192 0.0192 0.0191 0.0183 0.0175 0.0174 SSCCX Class C This <span id="xdx_907_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030182Member_zNkVcttblkwb">semi-annual shareholder report</span> contains important information about the Saratoga Small Capitalization Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_804_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030182Member_zR8ioF4fn3Tg" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_904_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030182Member_z6QgVLzWT1A3">Saratoga Small Capitalization Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_901_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030182Member_zGNJNMcaEeHg">168</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_909_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030182Member_zyyXPMzYT6U6">3.36%</span> (annualized)</span></td></tr> </table> Saratoga Small Capitalization Fund 168 0.0336 <p id="xdx_809_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030182Member_zCBfrP0idf6l" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_909_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030182Member_zMefnO0xvES3">7,029,791</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030182Member_zXVvIJP8d3Ba">59%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030182Member_zW3bfTneGwOl">102</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 7029791 0.59 102 <p id="xdx_807_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030182Member_zanHfX2khnsf" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="ssccx_001.jpg" style="height: 291px; width: 370px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zNk6UcG8R06e">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zo0nV5GXtQ1l">11.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zOThKfSDUFUb">3.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--TechnologyMember_zFCj3PWrwA32">19.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zj65G278Xinh">24.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--EnergyMember_ztnmgPCa7gX2">0.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zlQUzW1Q1PZ2">1.2%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zLacdLJOClSj">4.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zohq88JaW9ob">24.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zYirIfSOAR28">4.2%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030179Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zfHpvDAAaMde">5.4%</span></td></tr> </table> </div> 0.000 0.115 0.039 0.195 0.249 0.006 0.012 0.045 0.246 0.042 0.054 <div id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030182Member_zZFOFZIvMk04" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zeEO6YSLA8v3">3.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Advanced Energy Industries, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--AdvancedEnergyIndustriesIncMember_zFOTAwlFlOVb">1.98</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vestis Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--VestisCorpMember_zxm3FPuJ8uvb">1.95</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Watts Water Technologies, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--WattsWaterTechnologiesIncMember_zVRqnbuBL1b4">1.94</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Kulicke &amp; Soffa Industries, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--KulickeAndSoffaIndustriesIncMember_zi0vPV3U9M92">1.92</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Krystal Biotech, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--KrystalBiotechIncMember_zLim06NUMGEf">1.92</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Comfort Systems USA, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--ComfortSystemsUSAIncMember_z8OIwxFpL99h">1.91</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Allient, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--AllientIncMember_z1A8wVkZjsnf">1.83</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Fabrinet</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--FabrinetMember_zb4vr7Aotaek">1.75</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">EMCOR Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030182Member__oef--LargestHoldingAxis__custom--EMCORGroupIncMember_zJnzE1MG1hP">1.74</span></span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0386 0.0198 0.0195 0.0194 0.0192 0.0192 0.0191 0.0183 0.0175 0.0174 SSCPX This <span id="xdx_901_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030180Member_znnR2lD2QQf8">semi-annual shareholder report</span> contains important information about the Saratoga Small Capitalization Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_80D_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030180Member_zX2IKhjA8VH1" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030180Member_zHvzLvWphjm3">Saratoga Small Capitalization Fund</span>, <span id="xdx_905_eoef--ClassName_c20250901__20260228__oef--ClassAxis__custom--C000030180Member_zI66mN5myNuc">Class I</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90C_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030180Member_zsTgfBr3tjg9">118</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span id="xdx_90A_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030180Member_ztUWz5jh8Zm2">2.36%</span> (annualized)</td></tr> </table> Saratoga Small Capitalization Fund Class I 118 0.0236 <p id="xdx_807_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030180Member_zTDTeaWny9Yh" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030180Member_zcw2jQh4GP72">7,029,791</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030180Member_zHR0kX3v8xch">59%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030180Member_zt8cgRWBHDWc">102</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 7029791 0.59 102 <p id="xdx_808_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030180Member_zyFKhOrOk7Ef" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="sscpx_001.jpg" style="height: 291px; width: 370px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--UtilitiesMember_z0MWTfhijbBd" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zDSSeMljkeX5" style="display: none">11.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zivVedaOvzkd" style="display: none">3.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--TechnologyMember_zbqZl9oNlh06" style="display: none">19.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--IndustrialsMember_z4koLdOCDw41" style="display: none">24.9%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--EnergyMember_zAQ6epJ1ChF8" style="display: none">0.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_z7ZQD76toej7" style="display: none">1.2%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zhziv6u3oZdi" style="display: none">4.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zbTgTR2sMz92" style="display: none">24.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zIZTkDWb16wk" style="display: none">4.2%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zEzvLawHG6bc" style="display: none">5.4%</span></td></tr> </table> </div> 0.000 0.115 0.039 0.195 0.249 0.006 0.012 0.045 0.246 0.042 0.054 <div id="xdx_800_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030180Member_zGr2i71gf0ka" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zHF8Cqz5Sd1h">3.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Advanced Energy Industries, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--AdvancedEnergyIndustriesIncMember_zjDcQrXZdkE">1.98</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vestis Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--VestisCorpMember_zUsnWLH6Rxwj">1.95</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Watts Water Technologies, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--WattsWaterTechnologiesIncMember_zvqACdGFRKIf">1.94</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Kulicke &amp; Soffa Industries, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--KulickeAndSoffaIndustriesIncMember_zR13GBTdq5ol">1.92</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Krystal Biotech, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--KrystalBiotechIncMember_zy1UTdoivY2">1.92</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Comfort Systems USA, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--ComfortSystemsUSAIncMember_zsAFvJL1YJjf">1.91</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Allient, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--AllientIncMember_z5WUv0Hzvwe2">1.83</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Fabrinet</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--FabrinetMember_zRwfImwJmTU9">1.75</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">EMCOR Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030180Member__oef--LargestHoldingAxis__custom--EMCORGroupIncMember_zTnIKRE3iD1e">1.74</span></span></td></tr> </table> </div> <div style="float: none; clear: both; width: 100%"> </div> 0.0386 0.0198 0.0195 0.0194 0.0192 0.0192 0.0191 0.0183 0.0175 0.0174 SIEYX Class A This <span id="xdx_903_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030183Member_zYkoQgZHa8pa">semi-annual shareholder report</span> contains important information about the Saratoga International Equity Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_80C_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030183Member_zqoYCzOY1DIb" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_901_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030183Member_zzUcrwseriJh">Saratoga International Equity Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_900_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030183Member_zCP1H43hyvtf">172</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90E_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030183Member_zQiFbgxK33ee">3.37%</span> (annualized)</span></td></tr> </table> Saratoga International Equity Fund 172 0.0337 <p id="xdx_802_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030183Member_zzAvZZSlaN6a" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_906_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030183Member_zI5ScMb97zsi">3,958,715</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030183Member_ztd9INhmnL65">39%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030183Member_zSuG7Jnke4yh">43</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 3958715 0.39 43 <p id="xdx_805_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030183Member_zWt3ByvNBl1f" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="sieyx_001.jpg" style="height: 292px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zbkf173PKIEa">2.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zuzsb4uSTvya">7.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zAOm7ahkiJwa">8.7%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--TechnologyMember_zYGP5FAarDP2">17.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zKAH4oS7yr7h">16.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--EnergyMember_zCuchG9V8qs6">4.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zlpPWJCVbrIi">1.7%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zedh0d9Q8brl">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_z5H6cV0lXQwg">29.4%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zJBBCXwBBabh">5.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zegNL8a85okk">6.4%</span></td></tr> </table> </div> <div style="float: right; width: 48%"></div> 0.020 0.076 0.087 0.175 0.166 0.046 0.017 0.000 0.294 0.055 0.064 <div id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030183Member_z4bsQI8PBBdi" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Tiawan Semiconductor Manufacturing Co Ltd</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--TiawanSemiconductorManufacturingCoLtdMember_zmscSDGKFiq">4.07</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Kinross Gold Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--KinrossGoldCorpMember_z8TNUNcrTsMe">3.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">SK Hynix, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--SKHynixIncMember_zOg9n30skorf">3.73</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Obayashi Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--ObayashiCorpMember_zSX7pjjoNkE5">3.21</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Rolls-Royce Holdings plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--RollsRoyceHoldingsplcMember_zdlRU0W7ApQ1">3.19</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">DBS Group Holdings Ltd</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--DBSGroupHoldingsLtdMember_zSzSAFrUc5k">2.89</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Sumitomo Mitsui Financial Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--SumitomoMitsuiFinancialGroupIncMember_zydG1GqHMZ6g">2.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Siemens Energy A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--SiemensEnergyAGMember_zqNAi4TfDMSi">2.84</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Banco Santander SA</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--BancoSantanderSAMember_zuMlelAGaNIb">2.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">GEA Group A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--GEAGroupAGMember_zExlcCMvh0a2">2.82</span></span></td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); vertical-align: top"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="color: #03014D"><b>Regional Exposure (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%">Americas</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--AmericaMember_zjB8VcE1NRW9">6.58</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Greater Europe</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--GreaterEuropeMember_z0MGQV1cw79e">46.06</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Greater Asia</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030183Member__oef--LargestHoldingAxis__custom--GreaterAsiaMember_zM94kvDD6T0d">47.36</span></td></tr> </table> </div> 0.0407 0.0382 0.0373 0.0321 0.0319 0.0289 0.0286 0.0284 0.0282 0.0282 0.0658 0.4606 0.4736 SIECX Class C This <span id="xdx_907_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030186Member_zGo7rI9Jxjn9">semi-annual shareholder report</span> contains important information about the Saratoga International Equity Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_805_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030186Member_z8LBptWWEKRd" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030186Member_zU0e1RPck3d2">Saratoga International Equity Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_905_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030186Member_zxvfVWPOJw61">202</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_903_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030186Member_zPLSYvGMw719">3.97%</span> (annualized)</span></td></tr> </table> Saratoga International Equity Fund 202 0.0397 <p id="xdx_802_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030186Member_znpHHW9SoTij" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_903_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030186Member_zPKkcNS9YTP8">3,958,715</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030186Member_znuJzLMQvBqk">39%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030186Member_zR1F4WdgNty9">43</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 3958715 0.39 43 <p id="xdx_80A_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030186Member_z0G6XLTJhzXb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="siecx_001.jpg" style="height: 292px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--UtilitiesMember_z3s0WyNdPf0a">2.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zewDd23CTBxj">7.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zeFxDvoRYVw6">8.7%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--TechnologyMember_zXauBHc2GyX4">17.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zRjkMEFu0hDk">16.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--EnergyMember_zASm1a3jbSJf">4.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zqKRzKdu89Fh">1.7%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zEwbWmVKzaw9">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zy51BOSA4NGk">29.4%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zPgksxQy2dui">5.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zQ4OVhICiyy5">6.4%</span></td></tr> </table> </div> 0.020 0.076 0.087 0.175 0.166 0.046 0.017 0.000 0.294 0.055 0.064 <div id="xdx_802_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030186Member_zx69dJI0gAl6" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Tiawan Semiconductor Manufacturing Co Ltd</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--TiawanSemiconductorManufacturingCoLtdMember_zzinyl5a5okh">4.07</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Kinross Gold Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--KinrossGoldCorpMember_zhonXq2wFpo1">3.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">SK Hynix, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--SKHynixIncMember_zXZ8ZcbPJmg7">3.73</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Obayashi Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--ObayashiCorpMember_zf9gh2PrDxhg">3.21</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Rolls-Royce Holdings plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--RollsRoyceHoldingsplcMember_zNrKiFIvXxSe">3.19</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">DBS Group Holdings Ltd</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--DBSGroupHoldingsLtdMember_zlFRBLHJqIyi">2.89</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Sumitomo Mitsui Financial Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--SumitomoMitsuiFinancialGroupIncMember_zUuzJAaT8g53">2.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Siemens Energy A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--SiemensEnergyAGMember_zfdrk4GwyDR6">2.84</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Banco Santander SA</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--BancoSantanderSAMember_zbvsWOQN8DK3">2.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">GEA Group A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--GEAGroupAGMember_zMUYCd73bZoa">2.82</span></span></td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); vertical-align: top"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="color: #03014D"><b>Regional Exposure (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%">Americas</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--AmericaMember_zaiTWrRfv5mb">6.58</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Greater Europe</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--GreaterEuropeMember_zum2vv6tTfk5">46.06</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Greater Asia</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030186Member__oef--LargestHoldingAxis__custom--GreaterAsiaMember_zMdO0Zo19Rqi">47.36</span></td></tr> </table> </div> 0.0407 0.0382 0.0373 0.0321 0.0319 0.0289 0.0286 0.0284 0.0282 0.0282 0.0658 0.4606 0.4736 SIEPX Class I This <span id="xdx_903_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030184Member_zTNUlIXH8Zm1">semi-annual shareholder report</span> contains important information about the Saratoga International Equity Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_809_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030184Member_zoLmWfDLrM0c" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_902_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030184Member_zyaxPHvMoiwh">Saratoga International Equity Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_905_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030184Member_zouVztmYDYPh">152</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--ExpenseRatioPct_dp_c20250901__20260228__oef--ClassAxis__custom--C000030184Member_zvlu2ER4R6c7">2.97%</span> (annualized)</span></td></tr> </table> Saratoga International Equity Fund 152 0.0297 <p id="xdx_806_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030184Member_zRry7DU6Cg5i" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_907_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030184Member_z1uUgJlpN7Qk">3,958,715</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030184Member_zR13nqtJhRja">39%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030184Member_z4OtAv1pXMM1">43</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 3958715 0.39 43 <p id="xdx_806_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030184Member_zKntwTg4Gl47" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="siepx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zmMFsCdRjVLk" style="display: none">2.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_ztONY4X6pns4" style="display: none">7.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zXZkxE786aE5" style="display: none">8.7%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--TechnologyMember_zQj1CZLhQxT3" style="display: none">17.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--IndustrialsMember_ztg7qBoZmv66" style="display: none">16.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--EnergyMember_zje63T6upLo8" style="display: none">4.6%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_z5TMj30lZ8Yg" style="display: none">1.7%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zqITL8UmT025" style="display: none">0.0%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zXAbnqIj5ezl" style="display: none">29.4%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zBuw0qLDbRrh" style="display: none">5.5%</span></td></tr> <tr style="vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_znbw4bpDNNpe" style="display: none">6.4%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.020 0.076 0.087 0.175 0.166 0.046 0.017 0.000 0.294 0.055 0.064 <p id="xdx_805_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030184Member_zPJ15j5mPLob" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Tiawan Semiconductor Manufacturing Co Ltd</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--TiawanSemiconductorManufacturingCoLtdMember_zJ9Sxz08uO52">4.07</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Kinross Gold Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--KinrossGoldCorpMember_zkZN8MGUm58">3.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">SK Hynix, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--SKHynixIncMember_zQMPBYOvqpzk">3.73</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Obayashi Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--ObayashiCorpMember_zTZYYW2t4S1l">3.21</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Rolls-Royce Holdings plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--RollsRoyceHoldingsplcMember_znrplwFRxL31">3.19</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">DBS Group Holdings Ltd</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--DBSGroupHoldingsLtdMember_zlHj3Y5MfpH2">2.89</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Sumitomo Mitsui Financial Group, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--SumitomoMitsuiFinancialGroupIncMember_zd2U4yt8g5Q9">2.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Siemens Energy A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--SiemensEnergyAGMember_zjcVyISpDRXf">2.84</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Banco Santander SA</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--BancoSantanderSAMember_zIg67bKPpEX6">2.82</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">GEA Group A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--BancoSantanderSAMember_zDqgrL5a4TDk">2.82</span></span></td></tr> </table> <p style="margin: 0"> </p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); vertical-align: top"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="color: #03014D"><b>Regional Exposure (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%">Americas</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--AmericaMember_ze7ZK1TowC2i">6.58</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Greater Europe</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--GreaterEuropeMember_zcSL1SWWfwTi">46.06</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Greater Asia</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030184Member__oef--LargestHoldingAxis__custom--GreaterAsiaMember_z5fgzzlXfr47">47.36</span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.0407 0.0382 0.0373 0.0321 0.0319 0.0289 0.0286 0.0284 0.0282 0.0282 0.0658 0.4606 0.4736 SHPAX Class A This <span id="xdx_908_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030154Member_zCjKua2xz1Fc">semi-annual shareholder report</span> contains important information about the Saratoga Health &amp; Biotechnology Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80E_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030154Member_zVplgyh9YNw" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_909_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030154Member_zptOGi9bJiBf">Saratoga Health &amp; Biotechnology Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90E_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030154Member_zfkFZJ9iXf77">164</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_900_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030154Member_z9YUuQH8dbX9">3.16%</span> (annualized)</span></td></tr> </table> Saratoga Health & Biotechnology Fund 164 0.0316 <p id="xdx_80A_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030154Member_znmpth1gJZRf" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_900_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030154Member_zlAP4HQMfVS6">11,600,773</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030154Member_zSHm5tryVX07">5%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030154Member_zNZmMJbY4s2e">29</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 11600773 0.05 29 <p id="xdx_805_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030154Member_zPzXM9Luwxqj" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="shpax_001.jpg" style="height: 292px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--UtilitiesMember_z3shu9ZQ8lEc" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zdO2uOKuTTs6" style="display: none">100.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_z6C7eMyTRE2a" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--TechnologyMember_zak4FYQ7Ayo3" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zBnEztegBP4e" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--EnergyMember_z54txX7dQkii" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zoqlp2qtact6" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zaOVQ0Vevkvk" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_z89kURA4KYsf" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zbR5zajysfA" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zppHlhWZhTA2" style="display: none">0.0%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.000 1.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 <p id="xdx_805_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030154Member_zatNtunj4eph" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cardinal Health, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--CardinalHealthIncMember_zKYylE5fQji1">6.78</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">McKesson Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--McKessonCorpMember_zPrdVC8N5jX2">5.88</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Amgen Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--AmgenIncMember_zNBpLaMiKA24">5.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cencora, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--CencoraIncMember_zNiJULYthgCj">5.40</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Jazz Pharmaceuticals plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--JazzPharmaceuticalsplcMember_zkYG8V3uGIS5">5.31</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">United Therapeutics Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_905_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--UnitedTherapeuticsCorpMember_zREI5rwHQPd2">5.04</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Novartis A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--NovartisAGMember_zLbyHxxrKCCb">4.56</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Regeneron Pharmaceuticals, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--RegeneronPharmaceuticalsIncMember_z1LMLnk5Rivk">4.51</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Gilead Sciences, Inc.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--GileadSciencesIncMember_zXK3NQbJIxA6">3.94</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Johnson &amp; Johnson</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030154Member__oef--LargestHoldingAxis__custom--JohnsonAndJohnsonMember_zwaOxJHloslb">3.90</span></span></td></tr> </table> 0.0678 0.0588 0.0586 0.0540 0.0531 5.04 0.0456 0.0451 0.0394 0.0390 SHPCX Class C This <span id="xdx_906_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030153Member_zIBbFipe3qqb">semi-annual shareholder report</span> contains important information about the Saratoga Health &amp; Biotechnology Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_803_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030153Member_z0bcFuRcknYi" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030153Member_zKwvvZctKkh5">Saratoga Health &amp; Biotechnology Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90A_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030153Member_zAxdkU5Ztjw2">195</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90D_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030153Member_zxE28r6yqvUl">3.76%</span> (annualized)</span></td></tr> </table> Saratoga Health & Biotechnology Fund 195 0.0376 <p id="xdx_802_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030153Member_zhRrEPH2ogVh" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_903_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030153Member_zZaFStFpw3l5">11,600,773</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030153Member_z4dwsBdythe">5%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030153Member_zxQIspDvkZM6">29</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 11600773 0.05 29 <p id="xdx_803_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030153Member_zDAYwDQ1xVh7" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="shpcx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="margin-top: 0; margin-bottom: 0"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--UtilitiesMember_z2RYGQ3lvZAi" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zpRlA5LAllmk" style="display: none">100.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zr0LbZyXcTYj" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--TechnologyMember_zcwWYAnObJ1a" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zrbFQPtd76Vh" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--EnergyMember_zz4J36jwn5xh" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zMy15yHxjRta" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zgcDxwEPrbXf" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zwUH65aBrF2i" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z598JHXVDOrg" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_z1PD8zBsUTC7" style="display: none">0.0%</span></td></tr> </table> </div> 0.000 1.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 <div id="xdx_807_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030153Member_zjCh9ccFr4cg" style="float: right; width: 48%"></div> <div style="float: right; width: 48%"><table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cardinal Health, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--CardinalHealthIncMember_zaIC6ogWAXqi">6.78</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">McKesson Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--McKessonCorpMember_zDJTTRlG4p2d">5.88</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Amgen Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--AmgenIncMember_zMxjweUnRTs6">5.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cencora, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--CencoraIncMember_zyRj9ZUKXcAe">5.40</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Jazz Pharmaceuticals plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--JazzPharmaceuticalsplcMember_zabb1eRqSoa6">5.31</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">United Therapeutics Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90F_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--UnitedTherapeuticsCorpMember_zbPYSoNZaRa2">5.04</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Novartis A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--NovartisAGMember_zzdKxGPQ3Cq">4.56</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Regeneron Pharmaceuticals, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--RegeneronPharmaceuticalsIncMember_zw0xltLLQhyl">4.51</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Gilead Sciences, Inc.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--GileadSciencesIncMember_zxr29ZhJ3lJ">3.94</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Johnson &amp; Johnson</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030153Member__oef--LargestHoldingAxis__custom--JohnsonAndJohnsonMember_zBtNz7GKrN38">3.90</span></span></td></tr> </table> </div> 0.0678 0.0588 0.0586 0.0540 0.0531 5.04 0.0456 0.0451 0.0394 0.0390 SBHIX Class I This <span id="xdx_900_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030151Member_zWhTRQzJWXDj">semi-annual shareholder report</span> contains important information about the Saratoga Health &amp; Biotechnology Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030151Member_zDoTirtTRUOj" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90E_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030151Member_zy7vjnJWr3u5">Saratoga Health &amp; Biotechnology Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_901_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030151Member_zRnMg4qv3fc2">144</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030151Member_zSixHCDtJ6M7">2.76%</span> (annualized)</span></td></tr> </table> Saratoga Health & Biotechnology Fund 144 0.0276 <p id="xdx_804_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030151Member_zaHuPRti4Zy8" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90D_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030151Member_zS82VWQQYw98">11,600,773</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030151Member_zVvzDQRxcwN7">5%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030151Member_zBaK84KG8cUc">29</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 11600773 0.05 29 <p id="xdx_809_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030151Member_zAOTNxboznVb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="sbhix_001.jpg" style="height: 292px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Utilities</td> <td style="display: none; text-align: right; width: 37%"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--UtilitiesMember_z0SIr30w7Iu5" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Healthcare</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_z2r4lyTDJQl8" style="display: none">100.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Consumer Defensive</td> <td style="display: none; text-align: right"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zU1Jons8eoOk" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Technology</td> <td style="display: none; text-align: right"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--TechnologyMember_zC3kVtQb3Mvd" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Industrials</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zoBSgvi3x3Y6" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Energy</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--EnergyMember_zBTmOqn1Twnc" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Communication Services</td> <td style="display: none; text-align: right"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_zZkLPVN5TSy2" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Real Estate</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zxpE08YRxvjj" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Financial Services</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zwe2OB3IwGw5" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Consumer Cyclical</td> <td style="display: none; text-align: right"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zZgBRakQ7Vl4" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Basic Materials</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_z5dY72qMxJ7g" style="display: none">0.0%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.000 1.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 <p id="xdx_80B_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030151Member_zIxtfCF6j1kh" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cardinal Health, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--CardinalHealthIncMember_zN0eFgLvIi1c">6.78</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">McKesson Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--McKessonCorpMember_zRJYMG1GTpL4">5.88</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Amgen Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--AmgenIncMember_zyUmcUlMuSYd">5.86</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cencora, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--CencoraIncMember_zXPxtyKIclU6">5.40</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Jazz Pharmaceuticals plc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--JazzPharmaceuticalsplcMember_zVTBQtRZgcC8">5.31</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">United Therapeutics Corp</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90C_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--UnitedTherapeuticsCorpMember_zd6raY0W4Oud">5.04</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Novartis A.G.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--NovartisAGMember_zhlyB1JNT5Ee">4.56</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Regeneron Pharmaceuticals, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--RegeneronPharmaceuticalsIncMember_zfzjHTpwbJne">4.51</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Gilead Sciences, Inc.</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--GileadSciencesIncMember_z9TsGqbIoEXg">3.94</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Johnson &amp; Johnson</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030151Member__oef--LargestHoldingAxis__custom--JohnsonAndJohnsonMember_ztvHDNfOUI71">3.90</span></span></td></tr> </table> 0.0678 0.0588 0.0586 0.0540 0.0531 5.04 0.0456 0.0451 0.0394 0.0390 STPAX Class A This <span id="xdx_908_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030162Member_z3FwN7HvbkDc">semi-annual shareholder report</span> contains important information about the Saratoga Technology &amp; Communications Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030162Member_zK5PLHUgun84" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030162Member_zRD3pfIA5IY3">Saratoga Technology &amp; Communications Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90E_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030162Member_zppmH6Ve5vt4">143</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90D_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030162Member_zKeqZIBMVBH6">2.91%</span> (annualized)</span></td></tr> </table> Saratoga Technology & Communications Fund 143 0.0291 <p id="xdx_801_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030162Member_z9cuxXXQfrE6" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_909_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030162Member_zj7FdWeHNNrc">37,773,110</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_909_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030162Member_zwwUk7Vw6NNj">1%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030162Member_z6Bx8cWR0jo8">25</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 37773110 0.01 25 <p id="xdx_800_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030162Member_zMBw2frnTlV3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="stpax_001.jpg" style="height: 292px; width: 370px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zVUd4ZVaTQ61" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zGuCarRr00Af" style="display: none">1.4%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_zFaGUC9363oj" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--TechnologyMember_zlcaOrUpCcql" style="display: none">61.2%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zEb1YKbSmA92" style="display: none">3.7%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--EnergyMember_zEUgjaNDjgd2" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_z1Ba53SxPq6i" style="display: none">15.1%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zeRrXjkxYWy9" style="display: none">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zVzfZCDwlCfg" style="display: none">10.7%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_zrw2wWjmg7p8" style="display: none">8.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zFw9kB6bjQgk" style="display: none">0.0%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.000 0.014 0.000 0.612 0.037 0.000 0.151 0.000 0.107 0.080 0.000 <p id="xdx_807_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030162Member_zKAN9IsUe1Vk" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Alphabet, Inc Class C</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_zuNJaxneGOK9">9.91</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">KLA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--KLACorpMember_zijK68usmrYj">8.41</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">NVIDIA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--NVIDIACorpMember_zrA2dmGTjj1b">7.46</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Amazon.com Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zp4rpoqg7ou4">6.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Visa, Inc Class A</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--VisaIncClassAMember_zBFGDNeJJNX5">6.23</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cisco Systems, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--CiscoSystemsIncMember_zfC0tF39XRG8">6.10</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Microsoft Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zof97jIeMrj3">5.97</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Broadcom, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--BroadcomIncMember_z49DZrjcXaL1">5.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Meta Platforms, Inc Class A</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--MetaPlatformsIncClassAMember_z5mYpwH7PdDi">5.14</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Apple, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030162Member__oef--LargestHoldingAxis__custom--AppleIncMember_zBAiq40jfBdd">4.73</span></span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.0991 0.0841 0.0746 0.0650 0.0623 0.0610 0.0597 0.0550 0.0514 0.0473 STPCX Class C This <span id="xdx_901_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030161Member_zVsM30onGxaa">semi-annual shareholder report</span> contains important information about the Saratoga Technology &amp; Communications Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_809_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030161Member_zLGkg9jft4Lj" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_909_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030161Member_z1xMg4b222Pk">Saratoga Technology &amp; Communications Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90B_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030161Member_z8Q5Qcnjoqc9">172</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030161Member_zllJNygXwAqf">3.51%</span> (annualized)</span></td></tr> </table> Saratoga Technology & Communications Fund 172 0.0351 <p id="xdx_800_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030161Member_zH2eLuMg7tkd" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_900_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030161Member_zHHbpjlaHMK2">37,773,110</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_903_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030161Member_zEBrGGEMXR67">1%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030161Member_zf6OxZRmBCWi">25</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 37773110 0.01 25 <p id="xdx_80D_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030161Member_zFp6L4OhxZOb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="stpcx_001.jpg" style="height: 292px; width: 370px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zEZngYCNRm2i">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_zO0lWOw2JWfj">1.4%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_z6wPZK7BZRjd">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Technology</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--TechnologyMember_zghGlRfC3pP3">61.2%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zbNASLiUYn53">3.7%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Energy</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--EnergyMember_zJiVjPd4Xy85">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_ztVmQIEhYD65">15.1%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_z4eNSg3ibQwi">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_z5HIdS5KJuie">10.7%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z1GwUyttAZqi">8.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: center">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_z9w3mkAIJyH5">0.0%</span></td></tr> </table></div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.000 0.014 0.000 0.612 0.037 0.000 0.151 0.000 0.107 0.080 0.000 <p id="xdx_806_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030161Member_z5fvzXwyk69c" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Alphabet, Inc Class C</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_zbKh645QpPne">9.91</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">KLA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--KLACorpMember_zALpS3vCWey1">8.41</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">NVIDIA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--NVIDIACorpMember_zFnE5S6ZwAx2">7.46</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Amazon.com Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zie6hC7jMS1d">6.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Visa, Inc Class A</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--VisaIncClassAMember_zMeECyA7e8Kf">6.23</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cisco Systems, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--CiscoSystemsIncMember_zefnLLlmWQ2h">6.10</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Microsoft Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zLd6UzX6Ljp">5.97</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Broadcom, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--BroadcomIncMember_zAmrXNFvURu9">5.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Meta Platforms, Inc Class A</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--MetaPlatformsIncClassAMember_z7JUxvdxmu3l">5.14</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Apple, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030161Member__oef--LargestHoldingAxis__custom--AppleIncMember_zS3QN8k1Nax">4.73</span></span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.0991 0.0841 0.0746 0.0650 0.0623 0.0610 0.0597 0.0550 0.0514 0.0473 STPIX Class I This <span id="xdx_909_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030159Member_z15EzuFw3rCc">semi-annual shareholder report</span> contains important information about the Saratoga Technology &amp; Communications Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_803_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030159Member_zekcaOR9cZSk" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030159Member_zPQticrUDqq6">Saratoga Technology &amp; Communications Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_903_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030159Member_zJUQwRfsqXV3">123</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90F_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030159Member_z3aG4IOYgGz9">2.51%</span> (annualized)</span></td></tr> </table> Saratoga Technology & Communications Fund 123 0.0251 <p id="xdx_800_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030159Member_zYV38Tp1Ywea" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90F_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030159Member_zmLVABtejIIh">37,773,110</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030159Member_zibQaOwbyBhd">1%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030159Member_zWXZbdAn5Qbj">25</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 37773110 0.01 25 <p id="xdx_803_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030159Member_zJHj9pwL2157" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <img alt="" src="stpix_001.jpg" style="height: 292px; width: 370px"/> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none; width: 63%">Utilities</td> <td style="display: none; text-align: center; width: 37%"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--UtilitiesMember_zvZMcE8mfQvi">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Healthcare</td> <td style="display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__us-gaap--HealthCareMember_z0NyUkGPXOH5">1.4%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Consumer Defensive</td> <td style="display: none; text-align: center"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--ConsumerDefensiveMember_za8PFYvWEAm4">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Technology</td> <td style="display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--TechnologyMember_zcHjzvtf7rb1">61.2%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Industrials</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--IndustrialsMember_zWcKXqPf94Ji">3.7%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Energy</td> <td style="display: none; text-align: center"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--EnergyMember_z1LzjSjEOQ9a">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Communication Services</td> <td style="display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--CommunicationServicesMember_z1dOQpIDmNUe">15.1%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Real Estate</td> <td style="display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__us-gaap--RealEstateMember_zuRGDRAEKEz7">0.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Financial Services</td> <td style="display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--FinancialServicesMember_zIYvtKiBx1ch">10.7%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Consumer Cyclical</td> <td style="display: none; text-align: center"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--ConsumerCyclicalMember_z6QnQMMF9Fn1">8.0%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; display: none">Basic Materials</td> <td style="display: none; text-align: center"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--BasicMaterialsMember_zUr0fh7JDVjj">0.0%</span></td></tr> </table></div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.000 0.014 0.000 0.612 0.037 0.000 0.151 0.000 0.107 0.080 0.000 <p id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030159Member_z4DSGJKqYJP7" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Alphabet, Inc Class C</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_zcOxsqDPL3Hd">9.91</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">KLA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--KLACorpMember_zZxvWJVVk4jc">8.41</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">NVIDIA Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--NVIDIACorpMember_zdMB9DBxQPml">7.46</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Amazon.com Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zVBGXewdqkK">6.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Visa, Inc Class A</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--VisaIncClassAMember_zNKytO0Amm55">6.23</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Cisco Systems, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--CiscoSystemsIncMember_zHQo4ye8dvha">6.10</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Microsoft Corp</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zOjDYxHYrwWc">5.97</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Broadcom, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--BroadcomIncMember_zKK7PmqoWyY4">5.50</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Meta Platforms, Inc Class A</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--MetaPlatformsIncClassAMember_zB9UCpGNGLW3">5.14</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Apple, Inc</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030159Member__oef--LargestHoldingAxis__custom--AppleIncMember_zyMHqXps5yb9">4.73</span></span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.0991 0.0841 0.0746 0.0650 0.0623 0.0610 0.0597 0.0550 0.0514 0.0473 SQBAX Class A This <span id="xdx_90B_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030163Member_znzX7ddgh8c">semi-annual shareholder report</span> contains important information about the Saratoga Investment Quality Bond Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com/fund-reports 1-888-672-4839 <p id="xdx_804_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030163Member_zhCSGNjTT4u6" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_904_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030163Member_zHxIW4ivmTwh">Saratoga Investment Quality Bond Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_902_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030163Member_zK6o5QBlMTKc">117</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030163Member_z1Bcaunw1TOj">2.36%</span> (annualized)</span></td></tr> </table> Saratoga Investment Quality Bond Fund 117 0.0236 <p id="xdx_807_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030163Member_zOGmtorKqVRj" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_905_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030163Member_zNI34gvE47Cf">8,400,846</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030163Member_z28umpVEA2rh">13%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030163Member_zmVtyYlRs9L4">3</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 8400846 0.13 3 <p id="xdx_801_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030163Member_za1I4unCsPZ3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="sqbax_001.jpg" style="height: 291px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; text-align: center; width: 63%">Cash &amp; Equivalents</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center; width: 37%"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030163Member__oef--LargestHoldingAxis__custom--CashAndEquivalentsMember_ziWiCPH6Xu99">5.5%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; text-align: center">Corporate</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030163Member__oef--LargestHoldingAxis__us-gaap--CorporateMember_ziFO5AKU7J4k">35.2%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; text-align: center">Government</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030163Member__oef--LargestHoldingAxis__us-gaap--GovernmentMember_zEwuvdZSmxFl">59.3%</span></td></tr> </table> </div> 0.055 0.352 0.593 <p id="xdx_80E_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030163Member_zhMTq8GhBjea" style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030163Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zuxNyfXqoIuj">90.98</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030163Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zZUmNQYq0KHh">4.58</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030163Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zb8MreleV7J1">4.44</span></span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.9098 0.0458 0.0444 SQBCX Class C This <span id="xdx_901_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030166Member_zWBLUnaDYIZg">semi-annual shareholder report</span> contains important information about the Saratoga Investment Quality Bond Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80C_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030166Member_zOHTw6M8Y2Vh" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030166Member_zwtN6BBr3Mv3">Saratoga Investment Quality Bond Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_907_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030166Member_zJyUgAlpSdIl">128</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_905_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030166Member_zOEWmB9XyyFg">2.58%</span> (annualized)</span></td></tr> </table> Saratoga Investment Quality Bond Fund 128 0.0258 <p id="xdx_80E_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030166Member_ztD4iYLaegW3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_900_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030166Member_zBvTkG0UCw94">8,400,846</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030166Member_zXbl5AxOghM1">13%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030166Member_zSdRq0JiKoda">3</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 8400846 0.13 3 <p id="xdx_808_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030166Member_z7DUVWgXhYyj" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="sqbcx_001.jpg" style="height: 291px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; text-align: center; width: 63%">Cash &amp; Equivalents</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center; width: 37%"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030166Member__oef--LargestHoldingAxis__custom--CashAndEquivalentsMember_zJeBGxkQ4fa8">5.5%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; text-align: center">Corporate</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030166Member__oef--LargestHoldingAxis__us-gaap--CorporateMember_zjKMaRhbbTjc">35.2%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; text-align: center">Government</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030166Member__oef--LargestHoldingAxis__us-gaap--GovernmentMember_zrWx5BCWnXhl">59.3%</span></td></tr> </table> </div> 0.055 0.352 0.593 <p id="xdx_802_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030166Member_ziKca9iWHS22" style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030166Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zxkjfmxQuYh6">90.98</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030166Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zi9IZkqtdcU1">4.58</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030166Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zkXJ5vlLGo28">4.44</span></span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.9098 0.0458 0.0444 SIBPX Class I This <span id="xdx_904_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030164Member_zRZ2yGvwQO59">semi-annual shareholder report</span> contains important information about the Saratoga Investment Quality Bond Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_807_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030164Member_zFUjJgfgEsf6" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030164Member_zRKn2o7wbG3d">Saratoga Investment Quality Bond Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_903_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030164Member_zBQ5Ibg5SeRk">97</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030164Member_z9wJONK9AzA1">1.96%</span> (annualized)</span></td></tr> </table> Saratoga Investment Quality Bond Fund 97 0.0196 <p id="xdx_80D_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030164Member_zKbNWkclXYy" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_904_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030164Member_zbsYtCiBDyH5">8,400,846</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000030164Member_zRc1F4ohVPp9">13%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030164Member_zsLiCLdV15We">3</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 8400846 0.13 3 <p id="xdx_80E_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030164Member_zWJH2zIsPUyd" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="sibpx_001.jpg" style="height: 291px; width: 370px"/></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; text-align: center; display: none; width: 63%">Cash &amp; Equivalents</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center; width: 37%"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030164Member__oef--LargestHoldingAxis__custom--CashAndEquivalentsMember_zXW8laK9uvx4">5.5%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; text-align: center; display: none">Corporate</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030164Member__oef--LargestHoldingAxis__us-gaap--CorporateMember_zbe4vx13AvV1">35.2%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; text-align: center; display: none">Government</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: center"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000030164Member__oef--LargestHoldingAxis__us-gaap--GovernmentMember_zE9y6wMxAZ84">59.3%</span></td></tr> </table> </div> 0.055 0.352 0.593 <p id="xdx_80E_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000030164Member_zNGekHrEJ0v5" style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030164Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zHvG5DiCUCy6">90.98</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030164Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zPC7EzEljhSl">4.58</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000030164Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zUHlcKcfkHG">4.44</span></span></td></tr> </table> <div style="float: none; clear: both; width: 100%"> </div> 0.9098 0.0458 0.0444 SGAXX Class A This <span id="xdx_909_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030147Member_zQo1mjrIzvjc">semi-annual shareholder report</span> contains important information about the Saratoga US Government Money Market Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80E_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030147Member_zmDq0233Q963" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030147Member_zIcd4vcqDwc">Saratoga US Government Money Market Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90B_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030147Member_z3iav771w7hd">91</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_905_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030147Member_zm8HmsRaBjXa">1.84%</span> (annualized)</span></td></tr> </table> Saratoga US Government Money Market Fund 91 0.0184 <p id="xdx_80C_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030147Member_zf7twbkn3e55" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90F_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030147Member_zF7xpnhxYBNg">4,292,083</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%">NA</td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030147Member_z8SQiWjwYkp7">4</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 4292083 4 <p id="xdx_803_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030147Member_zHGWFNRuxQti" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="sgaxx_001.jpg" style="height: 311px; width: 775px"/></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 83%">Federated Hermes Government Obligations Fund</td> <td style="display: none; text-align: right; width: 17%"><span id="xdx_906_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030147Member__oef--LargestHoldingAxis__custom--FederatedHermesGovernmentObligationsFundMember_z7PDaPEtVJd4" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Dreyfus Government Cash Management Fund</td> <td style="display: none; text-align: right"><span id="xdx_90B_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030147Member__oef--LargestHoldingAxis__custom--DreyfusGovernmentCashManagementFundMember_z0UKjM7Sz291" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">BlackRock Liquidity FedFund Fund</td> <td style="display: none; text-align: right"><span id="xdx_906_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030147Member__oef--LargestHoldingAxis__custom--BlackRockLiquidityFedFundFundMember_zG4uL2hLjO62" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">JPMorgan US Government Money Market Fund</td> <td style="display: none; text-align: right"><span id="xdx_908_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030147Member__oef--LargestHoldingAxis__custom--JPMorganUSGovernmentMoneyMarketFundMember_zEbNy96mhX33" style="display: none">24.99%</span></td></tr> </table> 0.2499 0.2499 0.2499 0.2499 SZCXX Class C This <span id="xdx_900_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030150Member_zH8DZKbywvP5">semi-annual shareholder report</span> contains important information about the Saratoga US Government Money Market Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_809_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030150Member_ztUUZ9Rk8PSg" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_905_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030150Member_ztdW6vmKb1l1">Saratoga US Government Money Market Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_907_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030150Member_zCU0VCgpBQ05">120</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_906_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030150Member_z2WfUyK9WqYl">2.44%</span> (annualized)</span></td></tr> </table> Saratoga US Government Money Market Fund 120 0.0244 <p id="xdx_808_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030150Member_zVrCbNgPFiB1" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030150Member_zweKKgj1sWAc">4,292,083</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%">NA</td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030150Member_zFkWDVUzzNr9">4</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 4292083 4 <p id="xdx_80E_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030150Member_zlgsCPGcMH87" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="szcxx_001.jpg" style="height: 311px; width: 775px"/></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; width: 83%">Federated Hermes Government Obligations Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right; width: 17%"><span id="xdx_900_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030150Member__oef--LargestHoldingAxis__custom--FederatedHermesGovernmentObligationsFundMember_zg6LAO9A3Ra3" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none">Dreyfus Government Cash Management Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right"><span id="xdx_90A_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030150Member__oef--LargestHoldingAxis__custom--DreyfusGovernmentCashManagementFundMember_zu4fsrGLryxi" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none">BlackRock Liquidity FedFund Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right"><span id="xdx_90F_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030150Member__oef--LargestHoldingAxis__custom--BlackRockLiquidityFedFundFundMember_z1026bGV7i73" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none">JPMorgan US Government Money Market Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right"><span id="xdx_90D_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030150Member__oef--LargestHoldingAxis__custom--JPMorganUSGovernmentMoneyMarketFundMember_z020Hfnnk5S9" style="display: none">24.99%</span></td></tr> </table> 0.2499 0.2499 0.2499 0.2499 SGMXX Class I This <span id="xdx_905_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000030148Member_zyV1tIuXy2yd">semi-annual shareholder report</span> contains important information about the Saratoga US Government Money Market Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_804_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000030148Member_zpb8vYII4w6j" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90F_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000030148Member_zKsjF8LkhfJc">Saratoga US Government Money Market Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_904_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000030148Member_zZQoGxlPvRbj">71</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_905_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000030148Member_zoFOcEqBg8Hb">1.43%</span> (annualized)</span></td></tr> </table> Saratoga US Government Money Market Fund 71 0.0143 <p id="xdx_800_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000030148Member_zglJHz2OGKCa" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_904_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000030148Member_zcDk94bIIfB5">4,292,083</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%">NA</td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000030148Member_zjFKiTjOx1m">4</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 4292083 4 <p id="xdx_801_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000030148Member_zXnz0UOIM0H3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="sgmxx_001.jpg" style="height: 311px; width: 775px"/></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none; width: 83%">Federated Hermes Government Obligations Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right; width: 17%"><span id="xdx_905_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030148Member__oef--LargestHoldingAxis__custom--FederatedHermesGovernmentObligationsFundMember_zyMINaL4Lex9" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none">Dreyfus Government Cash Management Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right"><span id="xdx_907_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030148Member__oef--LargestHoldingAxis__custom--DreyfusGovernmentCashManagementFundMember_zMa0BrG78Ftc" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none">BlackRock Liquidity FedFund Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right"><span id="xdx_909_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030148Member__oef--LargestHoldingAxis__custom--BlackRockLiquidityFedFundFundMember_zUxu2ekvZMOf" style="display: none">24.99%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="font: 11pt Aptos Narrow; display: none">JPMorgan US Government Money Market Fund</td> <td style="font: 11pt Aptos Narrow; display: none; text-align: right"><span id="xdx_903_eoef--PctOfNav_iI_c20260228__oef--ClassAxis__custom--C000030148Member__oef--LargestHoldingAxis__custom--JPMorganUSGovernmentMoneyMarketFundMember_z8nS3wPSG8t1" style="display: none">24.99%</span></td></tr> </table> 0.2499 0.2499 0.2499 0.2499 SABAX Class A This <span id="xdx_908_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196871Member_zN5FpJGXznW2">semi-annual shareholder report</span> contains important information about the Saratoga Aggressive Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_806_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196871Member_ztQeQHP2tNI2" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_906_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196871Member_zOo0m3vCXWce">Saratoga Aggressive Balanced Allocation Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_905_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196871Member_zuuwCNvFKa7e">62</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196871Member_z7hsXj17gdfi">1.24%</span> (annualized)</span></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"> </p> Saratoga Aggressive Balanced Allocation Fund 62 0.0124 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196871Member_zYr7dGNDKsT8" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_907_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196871Member_zMTUN3SAFjgf">1,779,351</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate </b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196871Member_z4H20r57l0Y9">18%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196871Member_zX8Ce0DGq0lg">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 1779351 0.18 11 <p id="xdx_80A_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196871Member_zc4AmOZ0KC2l" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="sabax_001.jpg" style="height: 292px; width: 370px"/></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_z9aogclFp7dj" style="display: none">71.00%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zklBLOwQVdhf" style="display: none">17.90%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_z3JIUHNmLAf5" style="display: none">7.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zXtS9E36LTmc">4.00%</span></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"></span></p> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.7100 0.1790 0.0710 0.0400 <p id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196871Member_zPQJvQwbgujh" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zQcMR1rHylWg">16.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zpVz5HhK8Ola">14.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zK5azF59DV3j">14.8</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zI3bhg4LeEyi">13.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zX01oktVIshe">9.7</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zJBhS3nhEkri">8.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zdq7zM51ayF1">7.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Technology &amp; Comm Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_zvzPAxHm41N3">6.2</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_z9AA8y2BuxEa">4.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Health &amp; Biotech Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196871Member__oef--LargestHoldingAxis__custom--SaratogaHealthAndBiotechFundClassIMember_zZkdxVuIGUU1">3.8</span></span></td></tr> </table> 0.160 0.149 0.148 0.131 0.097 0.086 0.071 0.062 0.040 0.038 SABCX Class C This <span id="xdx_909_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196872Member_zCtmuesdgKzb">semi-annual shareholder report</span> contains important information about the Saratoga Aggressive Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_803_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196872Member_zhHm0Yh1Lz68" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_904_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196872Member_zPYcwjIy8wqd">Saratoga Aggressive Balanced Allocation Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_903_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196872Member_zx6CLGpn5yp7">99</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_901_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196872Member_zE4c77NxCxs3">1.99%</span> (annualized)</span></td></tr> </table> Saratoga Aggressive Balanced Allocation Fund 99 0.0199 <p id="xdx_802_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196872Member_znyhv5vrtBq9" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_908_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196872Member_z1OxQIvOHikj">1,779,351</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196872Member_zX6aAqn60oP1">18%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196872Member_zjc0xKzxDrU4">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 1779351 0.18 11 <p id="xdx_80C_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196872Member_zyqZpKLB3TDf" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="sabcx_001.jpg" style="height: 292px; width: 370px"/></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zjV8zeAvYJ79" style="display: none">71.00%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zTThDgOoInOl" style="display: none">17.90%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_z1kKEFGzajTf" style="display: none">7.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zKFCbKSttc0b">4.00%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.7100 0.1790 0.0710 0.0400 <p id="xdx_80E_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196872Member_zCUq375fHBQf" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zmbbvOKxst3i">16.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zMiyxJNW4TH1">14.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zghEFh7iXl79">14.8</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zdLP3z96waVb">13.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zu3lMwCwTLSd">9.7</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zAN4o1lvBhFi">8.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_z31IN5zgemDe">7.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Technology &amp; Comm Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_z3fdnJaI5cI8">6.2</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_z8VZv0gol23a">4.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Health &amp; Biotech Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196872Member__oef--LargestHoldingAxis__custom--SaratogaHealthAndBiotechFundClassIMember_zTA8r8KQFCm2">3.8</span></span></td></tr> </table> 0.160 0.149 0.148 0.131 0.097 0.086 0.071 0.062 0.040 0.038 SABIX Class I This <span id="xdx_909_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196873Member_zixpiYAbkDD1">semi-annual shareholder report</span> contains important information about the Saratoga Aggressive Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_800_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196873Member_zNmj1sm57eUb" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_903_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196873Member_z7talJIwsRZe">Saratoga Aggressive Balanced Allocation Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_901_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196873Member_zXZBThKYNM6k">50</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196873Member_zzd3fSLep2kf">0.99%</span> (annualized)</span></td></tr> </table> Saratoga Aggressive Balanced Allocation Fund 50 0.0099 <p id="xdx_805_eoef--FactorsAffectingPerfTextBlock_hoef--ClassAxis__custom--C000196873Member_zyf7e3OrLd13" style="margin: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <p id="xdx_80B_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196873Member_z7j8GSLPg7Sj" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"></span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_909_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196873Member_z0lK5Yi1x7n3">1,779,351</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196873Member_zZ0muqL2ULA4">18%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196873Member_zWIAhDYMmfp8">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 1779351 0.18 11 <p id="xdx_80A_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196873Member_zPQf1unasH02" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="sabix_001.jpg" style="height: 292px; width: 370px"/></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zypIwmpCR60i" style="display: none">71.00%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zqYITSRLRAOi" style="display: none">17.90%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zT43E1ytXl7l" style="display: none">7.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zSVw7pjsPQme">4.00%</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p></div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.7100 0.1790 0.0710 0.0400 <p id="xdx_802_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196873Member_z5boeEiAmpF4" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zLgWvPNxPlji">16.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zxKA0srdiXr1">14.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zHVQ95QU52hk">14.8</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_z06t2KEDoVS4">13.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zv8meo7rhzr6">9.7</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zohuzU91k2R5">8.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zB3rFY9XmQda">7.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Technology &amp; Comm Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_zq1ZflGy8CEb">6.2</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zAqhniKYBbD">4.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Health &amp; Biotech Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196873Member__oef--LargestHoldingAxis__custom--SaratogaHealthAndBiotechFundClassIMember_zNydTiVlakCk">3.8</span></span></td></tr> </table> 0.160 0.149 0.148 0.131 0.097 0.086 0.071 0.062 0.040 0.038 SCAAX Class A This <span id="xdx_903_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196874Member_zsKZP6LRP4uj">semi-annual shareholder report</span> contains important information about the Saratoga Conservative Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_808_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196874Member_zKBc1ebwwBbi" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90D_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196874Member_zbDfCvTAmq9e">Saratoga Conservative Balanced Allocation Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90A_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196874Member_zYqQM63UwWr3">62</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_904_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196874Member_zOKO0vopVEWg">1.24%</span> (annualized)</span></td></tr> </table> Saratoga Conservative Balanced Allocation Fund 62 0.0124 <p id="xdx_80E_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196874Member_zlReSB6O5bJb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_906_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196874Member_zahD5e0cEEF6">3,321,700</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196874Member_zP33rUVA6je3">15%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196874Member_zsBl0QnFg8dj">9</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 3321700 0.15 9 <p id="xdx_80F_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196874Member_zryqdVwVlXhb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="scaax_001.jpg" style="height: 291px; width: 370px"/></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zMu4tFCYOMsc" style="display: none">8.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_z9ck14H9ZqL4" style="display: none">41.50%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zrNz9Tg6GPsd" style="display: none">36.40%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_90B_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zVqk1tI8hep2" style="display: none">14.00%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0810 0.4150 0.3640 0.1400 <p id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196874Member_zJjWk0nwYoj4" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zz1sJjFvQpT5">33.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zVwZdDr5j14k">14.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zQVEbeYPlhs8">13.2</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zLD2M21ftr6a">12.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zHBOOSDpt3nk">11.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zmXmFEQmtGx4">8.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zSM1kFamUrN3">2.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Small Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zoyLqb6GjVwh">2.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Vanguard Total International Stock Index Fund, Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196874Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zH2I4hIRS9s3">1.7</span></td></tr> </table> 0.335 0.140 0.132 0.129 0.114 0.081 0.029 0.024 0.017 SUMCX Class C This <span id="xdx_901_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196875Member_zt2tgzypMI5b">semi-annual shareholder report</span> contains important information about the Saratoga Conservative Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80E_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196875Member_zdiJ3dugKIIb" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196875Member_zyQyRjIeANdi">Saratoga Conservative Balanced Allocation Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_904_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196875Member_zAre8rpkX1tj">99</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196875Member_zV7yMarIL1Ie">1.99%</span> (annualized)</span></td></tr> </table> Saratoga Conservative Balanced Allocation Fund 99 0.0199 <p id="xdx_80A_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196875Member_z33xmblqyp82" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_903_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196875Member_zWkarsI92h5g">3,321,700</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196875Member_zbP7ydjhPNuf">15%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196875Member_zeagaKy58j0j">9</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 3321700 0.15 9 <p id="xdx_804_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196875Member_z5ivKLGel6wa" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="sumcx_001.jpg" style="height: 292px; width: 370px"/></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_z41y47JloCAf" style="display: none">8.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zWHBNrgdokJh" style="display: none">41.50%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zX7uOHJNP08d" style="display: none">36.40%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_z1zGBl2lk5fg" style="display: none">14.00%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0810 0.4150 0.3640 0.1400 <p id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196875Member_zAS1vo4uPI48" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_z6jhIr5HknWc">33.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zRNzzOub2YR8">14.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_z49095Mv3Zr5">13.2</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zTaN3IcodP81">12.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zRa63zChAgib">11.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zNwGbEK0gRV2">8.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zKotUj2VdmOi">2.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Small Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zmFr0LR7s2pe">2.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Vanguard Total International Stock Index Fund, Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196875Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_znfbAgui69n3">1.7</span></td></tr> </table> 0.335 0.140 0.132 0.129 0.114 0.081 0.029 0.024 0.017 LUNAX Class I This <span id="xdx_904_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196876Member_zgJXsyN7Pnui">semi-annual shareholder report</span> contains important information about the Saratoga Conservative Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80C_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196876Member_zpsMmSxDes26" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_902_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196876Member_zgVUiyoIQIPl">Saratoga Conservative Balanced Allocation Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_902_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196876Member_zo9SMtOLUSM1">50</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90E_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196876Member_z3aNhiv8zurc">0.99%</span> (annualized)</span></td></tr> </table> Saratoga Conservative Balanced Allocation Fund 50 0.0099 <p id="xdx_807_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196876Member_zxJFpIEi5FL5" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90F_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196876Member_z9EQMz48OF9d">3,321,700</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196876Member_zdHSv9S5luEi">15%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196876Member_zhSON0uygAl5">9</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 3321700 0.15 9 <p id="xdx_80A_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196876Member_zerlzUYQDNgj" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="lunax_001.jpg" style="height: 291px; width: 370px"/></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zPBQ8Dq8wfHj" style="display: none">8.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zSRTOb09Ncwf" style="display: none">41.50%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_90A_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zwxSLc2MLUQi" style="display: none">36.40%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zsbMb03yHgU1" style="display: none">14.00%</span></td></tr> </table> </div> 0.0810 0.4150 0.3640 0.1400 <p id="xdx_80B_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196876Member_zm8mzz5ua974" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zvigsmkT4V1c">33.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zjzBdKrfzB78">14.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zyrDDv1hw2rg">13.2</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zP5vvkQ6sMPj">12.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_z5aAh9iYKPpb">11.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zwCBkfOi7Wv7">8.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zOYvOtXSvSFa">2.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Small Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zsexcXwcCcS6">2.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Vanguard Total International Stock Index Fund, Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196876Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_z5GNxmcsr9M7">1.7</span></td></tr> </table> 0.335 0.140 0.132 0.129 0.114 0.081 0.029 0.024 0.017 SMPAX Class A This <span id="xdx_90D_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196877Member_zCw05kDgwRU7">semi-annual shareholder report</span> contains important information about the Saratoga Moderate Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_806_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196877Member_zuUUjWLE0she" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90E_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196877Member_zDrAlIpEZM0g">Saratoga Moderate Balanced Allocation Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90A_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196877Member_zSO7tPsWwc3">62</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196877Member_zLiLko6Aomk7">1.24%</span> (annualized)</span></td></tr> </table> Saratoga Moderate Balanced Allocation Fund 62 0.0124 <p id="xdx_801_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196877Member_zKHIrpyA408k" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif">$<span id="xdx_909_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196877Member_zfe6O1rCiKgd">2,646,558</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><b>Portfolio Turnover Rate</b></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196877Member_zXEv1ydf1Cud">12%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196877Member_zTuKpbhsOW91">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 2646558 0.12 11 <p id="xdx_803_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196877Member_zz99QIBXbvx" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><img alt="" src="smpax_001.jpg" style="height: 292px; width: 370px"/></span></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zS4FfaJtj2z7" style="display: none">6.00%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_902_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zB26rcMv1EVa" style="display: none">58.80%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zi63tjNFY05g" style="display: none">24.60%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zlad5UOJYCod" style="display: none">10.60%</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"></p> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0600 0.5880 0.2460 0.1060 <p id="xdx_803_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196877Member_zCoQqtU4Wf67" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_z2nyw8g6rqD5">22.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zOYLm8apGUld">15.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_znEHiH0pSyPa">15.8</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zBUCCFYwXlI9">13.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zoZk1VcUH1m3">10.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Eaton Vance Global Macro Absolute Return Fund, Class I <span style="font-family: Arial, Helvetica, Sans-Serif"></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zUunpL9Nx7zj">6.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zALg46R5Dtll">4.7</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Technology &amp; Comm Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zjTZH6UInFE9">3.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zk3qjDEgtdF2">3.3</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_z2lers6KEGL4">2.6</span></span></td></tr> </table> 0.220 0.159 0.158 0.139 0.106 0.060 0.047 0.035 0.033 0.026 SBMCX Class C This <span id="xdx_90E_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196878Member_zgVcAHRUbgJ3">semi-annual shareholder report</span> contains important information about the Saratoga Moderate Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80E_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196878Member_z1ZM8pcKjlpe" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196878Member_zaZMjISw1jK8">Saratoga Moderate Balanced Allocation Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_905_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196878Member_zosRRp6lJds6">99</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90D_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196878Member_zaq7qEcXAHl9">1.99%</span> (annualized)</span></td></tr> </table> Saratoga Moderate Balanced Allocation Fund 99 0.0199 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196878Member_zChcvUJ4Ts0a" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196878Member_zeEtlO8H7Uqa">2,646,558</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><b>Portfolio Turnover Rate</b></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196878Member_zeH8d3YgZpVj">12%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196878Member_z3z0FAh2uvf2">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 2646558 0.12 11 <p id="xdx_802_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196878Member_zf7tNDQGWCwb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><img alt="" src="sbmcx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="margin-top: 0; margin-bottom: 0"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90D_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zueGMYz2f2Yj" style="display: none">6.00%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zHTRpRFyHC26" style="display: none">58.80%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_908_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_z9nZTOfyhBU4" style="display: none">24.60%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zzHsNYxLP8l7" style="display: none">10.60%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <p style="margin-top: 0; margin-bottom: 0"></p> 0.0600 0.5880 0.2460 0.1060 <p id="xdx_808_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196878Member_zMbK60SpNb4f" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zRwoACeOkRGd">22.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zNLmL8wFwgqg">15.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_z3TVERdwD227">15.8</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_ztQU4Y7S5Ud">13.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zm6XlJ8tXAPf">10.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Eaton Vance Global Macro Absolute Return Fund, Class I<span style="font-family: Arial, Helvetica, Sans-Serif"></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zXY0Pdtvy636">6.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zKgMbJ8Bf587">4.7</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Technology &amp; Comm Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_zAj0LXiaz9Aa">3.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zOfLJjWdUurb">3.3</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund,</span> Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196878Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zUCpfXax0Q15">2.6</span></span></td></tr> </table> 0.220 0.159 0.158 0.139 0.106 0.060 0.047 0.035 0.033 0.026 SBMIX Class I This <span id="xdx_904_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196879Member_zIkEcQlk3Epk">semi-annual shareholder report</span> contains important information about the Saratoga Moderate Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_809_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196879Member_zmCrYFkQMPj" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196879Member_zCi0gmeJeGjf">Saratoga Moderate Balanced Allocation Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_909_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196879Member_zlkudUK3Cv38">50</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196879Member_zlNsAyioIyP5">0.99%</span> (annualized)</span></td></tr> </table> Saratoga Moderate Balanced Allocation Fund 50 0.0099 <p id="xdx_807_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196879Member_zTz3PUXQBs97" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif">$<span id="xdx_904_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196879Member_zeMzCk2OOD49">2,646,558</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196879Member_zMrQmerW7N3i">12%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196879Member_zoti7QX75dFf">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 2646558 0.12 11 <p id="xdx_80D_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196879Member_zcywqsBoduvb" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><img alt="" src="sbmix_001.jpg" style="height: 292px; width: 370px"/></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zL4pqAYvcM7" style="display: none">6.00%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zz56T8cJSW32" style="display: none">58.80%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zgznetB7rI9f" style="display: none">24.60%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196877Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zksnv2Kf2tzk" style="display: none">10.60%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0600 0.5880 0.2460 0.1060 <p id="xdx_808_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196879Member_z9v0LKgtwp61" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zOk0PnDnH5Kj">22.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zz4qFpGJCPCh">15.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zTxkCjCKoXHb">15.8</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zlkf9mjpyoT7">13.9</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zH8i15GOV5ub">10.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Eaton Vance Global Macro Absolute Return Fund, Class I<span style="font-family: Arial, Helvetica, Sans-Serif"></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zz04GEJgCgWb">6.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zi4KXOBI7qgh">4.7</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Technology &amp; Comm Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_zmMpFIWiygfi">3.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zEtbcIqS2DMk">3.3</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196879Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zIt6LUj5hj1i">2.6</span></span></td></tr> </table> 0.220 0.159 0.158 0.139 0.106 0.060 0.047 0.035 0.033 0.026 SAMAX Class A This <span id="xdx_909_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196880Member_zFTgwLDovu5g">semi-annual shareholder report</span> contains important information about the Saratoga Moderately Aggressive Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_804_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196880Member_zae8XxKi8LVh" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_903_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196880Member_zmQ4uthP5wN4">Saratoga Moderately Aggressive Balanced Allocation Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_900_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196880Member_zYQV6uJYEzT2">62</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_906_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196880Member_zkLn4tIxrz39">1.24%</span> (annualized)</span></td></tr> </table> Saratoga Moderately Aggressive Balanced Allocation Fund 62 0.0124 <p id="xdx_803_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196880Member_znTVoFLMERE2" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196880Member_zrW1bIO2GsXd">1,305,328</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196880Member_z3tQwzwe6OA6">15%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196880Member_zz0jMUaloa65">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 1305328 0.15 11 <p id="xdx_805_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196880Member_zUH4eo3MS1k" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="samax_001.jpg" style="height: 292px; width: 370px"/></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zvMonDNXtmie" style="display: none">5.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zw594BOpBpb7" style="display: none">63.90%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_906_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zpS7BzTx9Uyf" style="display: none">22.40%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zPkqoMwoBTs4" style="display: none">8.60%</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"></p> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0510 0.6390 0.2240 0.0860 <p id="xdx_80B_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196880Member_zjsbpvuvE9E9" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zJjZw5XKPKg5">20.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zGYrnPOlyM0j">15.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zuoy9kgU7pV2">15.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Mid Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zSZfyD4s8LC">13.5</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Dreyfus Inst Prefer Govt Money Mkt Inst Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zlFnjeweIZL3">8.6</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Small Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zix694KTKExc">7.4</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Vanguard Total International Stock Index Fund, Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zXCVHJnJ7Rng">5.6</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Eaton Vance Global Macro Absolute Return Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zllwDQ5FNxx4">5.1</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Technology &amp; Comm Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_zWREy9cLaAbd">4.4</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Health &amp; Biotech Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196880Member__oef--LargestHoldingAxis__custom--SaratogaHealthAndBiotechFundClassIMember_zYk3hqTiyYF">2.5</span></td></tr> </table> 0.200 0.155 0.154 0.135 0.086 0.074 0.056 0.051 0.044 0.025 SAMCX Class C This <span id="xdx_90D_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196881Member_ztR5heWNvF3a">semi-annual shareholder report</span> contains important information about the Saratoga Moderately Aggressive Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80C_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196881Member_zTp7Uug4J0z2" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_905_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196881Member_zlk24uAjCTyd">Saratoga Moderately Aggressive Balanced Allocation Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_908_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196881Member_zzMYr4sixhm5">99</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90A_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196881Member_zjuiNL70pK6b">1.99%</span> (annualized)</span></td></tr> </table> Saratoga Moderately Aggressive Balanced Allocation Fund 99 0.0199 <p id="xdx_807_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196881Member_zZ6O5te1Hyi3" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90F_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196881Member_zkDOGbZeknpk">1,305,328</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196881Member_zLnsy3mRRkfi">15%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196881Member_zlxr0ocPmz63">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 1305328 0.15 11 <p id="xdx_80F_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196881Member_zpumn8O8N0eh" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="samcx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_z2FRAuI8bh9c" style="display: none">5.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zW1Z9TuS1JM7" style="display: none">63.90%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_90E_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zb0DtUQaTuo9" style="display: none">22.40%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zvZxq6v7I5J6" style="display: none">8.60%</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"></p> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0510 0.6390 0.2240 0.0860 <p id="xdx_802_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196881Member_zcsnBQrT3WC3" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zYqIK1Why1">20.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90C_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_z72OEZSkOVj6">15.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_z8gX5gIZJBJk">15.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Mid Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zRzFoR5iJFFk">13.5</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Dreyfus Inst Prefer Govt Money Mkt Inst Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zOFwNyb2xdX4">8.6</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Small Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zXHxElcaVGNl">7.4</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Vanguard Total International Stock Index Fund, Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zHrWT2yQkQHg">5.6</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Eaton Vance Global Macro Absolute Return Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zM8BETDboABb">5.1</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Technology &amp; Comm Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_zzKwUY7ytcpi">4.4</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Health &amp; Biotech Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196881Member__oef--LargestHoldingAxis__custom--SaratogaHealthAndBiotechFundClassIMember_z0UpEd2o9Vj9">2.5</span></td></tr> </table> 0.200 0.155 0.154 0.135 0.086 0.074 0.056 0.051 0.044 0.025 SAMIX Class I This <span id="xdx_904_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196882Member_zm06gEkq7mrl">semi-annual shareholder report</span> contains important information about the Saratoga Moderately Aggressive Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_80F_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196882Member_zROi9MwIay0a" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_906_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196882Member_zkKVUCD4TJ6e">Saratoga Moderately Aggressive Balanced Allocation Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90E_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196882Member_z7R68jYQg0c3">50</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_902_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196882Member_zMkZZKcHnWS7">0.99%</span> (annualized)</span></td></tr> </table> Saratoga Moderately Aggressive Balanced Allocation Fund 50 0.0099 <p id="xdx_80A_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196882Member_z73pQcFZn8B" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196882Member_z3Nu9TMOD9O8">1,305,328</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196882Member_zPiC3gdxp1Bh">15%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90D_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196882Member_zy4d9weeUOG6">11</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><b> </b></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 1305328 0.15 11 <p id="xdx_807_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196882Member_znc8CnTh1mvh" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"><img alt="" src="samix_001.jpg" style="height: 292px; width: 370px"/></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_90C_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zwAPfAYhOR4j" style="display: none">5.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zemBruufBVoc" style="display: none">63.90%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_909_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_z0uPHor2WGWh" style="display: none">22.40%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zbM95xRPZi31" style="display: none">8.60%</span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"></p> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0510 0.6390 0.2240 0.0860 <p id="xdx_806_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196882Member_zhET4UeBaIH1" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zeKaZUNJaRta">20.0</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zs1ma0at5KUe">15.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zvcavpeevUOi">15.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Mid Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zaqdGxdoYlj3">13.5</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Dreyfus Inst Prefer Govt Money Mkt Inst Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_908_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zKbSheechbB9">8.6</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Small Capitalization Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_907_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zuooxZoU2nRk">7.4</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Vanguard Total International Stock Index Fund, Admiral Class</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zrMFu01gcgSg">5.6</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Eaton Vance Global Macro Absolute Return Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zNd1j5YcGKQf">5.1</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Technology &amp; Comm Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--SaratogaTechnologyAndCommFundClassIMember_znF7oq6Skyi3">4.4</span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">Saratoga Health &amp; Biotech Fund, Class I</td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span id="xdx_90D_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196882Member__oef--LargestHoldingAxis__custom--SaratogaHealthAndBiotechFundClassIMember_zlBp77vwR6u5">2.5</span></td></tr> </table> 0.200 0.155 0.154 0.135 0.086 0.074 0.056 0.051 0.044 0.025 SMACX Class A This <span id="xdx_90F_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196883Member_zElma1U9ZR63">semi-annual shareholder report</span> contains important information about the Saratoga Moderately Conservative Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_807_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196883Member_zgnre58kFLc8" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_903_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196883Member_znkpwxqtF7Y4">Saratoga Moderately Conservative Balanced Allocation Fund</span>, Class A</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_904_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196883Member_zoHEjouj82kk">62</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_902_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196883Member_zPdHHboUGuK2">1.24%</span> (annualized)</span></td></tr> </table> Saratoga Moderately Conservative Balanced Allocation Fund 62 0.0124 <p id="xdx_800_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196883Member_zNXX9cCrsso4" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif">$<span id="xdx_903_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196883Member_zo7hJr9rxpxa">936,508</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196883Member_zTou7TyKJLnb">11%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196883Member_zq8bn1o8n2N4">9</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 936508 0.11 9 <p id="xdx_804_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196883Member_zgM50As5hIii" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><img alt="" src="smacx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="margin-top: 0; margin-bottom: 0"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zUpaVLbMChOk" style="display: none">7.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_907_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_znXEo706TnKi" style="display: none">53.50%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zQWVe7LKC66k" style="display: none">29.30%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_90F_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zWv1Tl7Hbtw2" style="display: none">10.10%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0710 0.5350 0.2930 0.1010 <p id="xdx_803_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196883Member_zC4MTT428dm7" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zZHGsrWpFF59">26.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zRqNC0D9EYo3">14.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zRFl6eFc4wli">14.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_z2Ty5cHj5q7d">13.3</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_900_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zQrOrn1nL4A5">10.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_zejoBSihZow7">7.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_z7qbIxVc60Mf">6.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zPsL8x2mnLPb">5.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196883Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zGL6wtxvfVr9">2.9</span></span></td></tr> </table> 0.264 0.145 0.145 0.133 0.101 0.071 0.066 0.051 0.029 SBCCX Class C This <span id="xdx_904_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196884Member_zXyPYoouXRc4">semi-annual shareholder report</span> contains important information about the Saratoga Moderately Conservative Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_805_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196884Member_zjsLlIIh9yJh" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_907_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196884Member_zWDEuNJzWyBb">Saratoga Moderately Conservative Balanced Allocation Fund</span>, Class C</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_90C_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196884Member_zJmso5q6uPzi">99</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196884Member_z3kkt62XTm2g">1.99%</span> (annualized)</span></td></tr> </table> Saratoga Moderately Conservative Balanced Allocation Fund 99 0.0199 <p id="xdx_806_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196884Member_zo8q7m9xr1l7" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif">$<span id="xdx_904_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196884Member_zckklHSyMUQf">936,508</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196884Member_zNyjjyFRABB8">11%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196884Member_z1rC6wYhlUz3">9</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><b> </b></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 936508 0.11 9 <p id="xdx_807_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196884Member_ztC0Oss5vZFg" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><img alt="" src="sbccx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="margin-top: 0; margin-bottom: 0"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_903_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_ztk2YO92NCf" style="display: none">7.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_904_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zFMU6hrXE8S1" style="display: none">53.50%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_z27QYJu127e8" style="display: none">29.30%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_901_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_z1dB2CaGPcLc" style="display: none">10.10%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0710 0.5350 0.2930 0.1010 <p id="xdx_80D_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196884Member_zc73KLYzM594" style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zMhr1bpDouEc">26.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zrTD2bhNmIXa">14.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_z9o4eeW7n4Zc">14.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zcmdS9eMcq39">13.3</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_902_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zvXYiQC6xJbd">10.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90B_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_z3ZEXRNlTDxc">7.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zxVe3dder7Jc">6.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zplAOYjTToQ2">5.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196884Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_zVObhfYUlH18">2.9</span></span></td></tr> </table> 0.264 0.145 0.145 0.133 0.101 0.071 0.066 0.051 0.029 SMICX Class I This <span id="xdx_90F_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260228__oef--ClassAxis__custom--C000196885Member_z3OSi74OJvLg">semi-annual shareholder report</span> contains important information about the Saratoga Moderately Conservative Balanced Allocation Fund for the period 9/1/2025 through 2/28/2026. semi-annual shareholder report You can find additional information about the Fund www.saratogacap.com 1-888-672-4839 <p id="xdx_800_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000196885Member_zg5NnFtGQes9" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Arial, Helvetica, Sans-Serif"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: #F2F2F2"> <td colspan="3" style="border: rgb(5,2,104) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What were the Fund’s costs for the last six months (based on a hypothetical $10,000 investment)?</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 60%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Fund</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs of a $10,000 Investment</b></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; width: 20%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Costs paid as a % of a $10,000 Investment</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; border-left: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--FundName_c20250901__20260228__oef--ClassAxis__custom--C000196885Member_zLXzXwecVz37">Saratoga Moderately Conservative Balanced Allocation Fund</span>, Class I</span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$<span id="xdx_905_eoef--ExpensesPaidAmt_c20250901__20260228__oef--ClassAxis__custom--C000196885Member_zjiuThNuVgge">50</span></span></td> <td style="border-right: #000066 1pt solid; border-bottom: #000066 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_902_eoef--ExpenseRatioPct_c20250901__20260228__oef--ClassAxis__custom--C000196885Member_zgypqcSrPzGb">0.99%</span> (annualized)</span></td></tr> </table> Saratoga Moderately Conservative Balanced Allocation Fund 50 0.0099 <p id="xdx_80D_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000196885Member_zuvnOk2YrnA6" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"> </span></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="4" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Fund Statistics</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Total Net Assets</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif">$<span id="xdx_904_eus-gaap--AssetsNet_iI_c20260228__oef--ClassAxis__custom--C000196885Member_zQrUfgOvwDVc">936,508</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 35%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Portfolio Turnover Rate</b></span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_904_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260228__oef--ClassAxis__custom--C000196885Member_zCMuJgoYX08d">11%</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><b>Number of Portfolio Holdings</b></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--HoldingsCount_iI_uInteger_c20260228__oef--ClassAxis__custom--C000196885Member_z5G5hcTYQQ5l">9</span></span></td> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"> </td></tr> </table> 936508 0.11 9 <p id="xdx_80F_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000196885Member_zIxucArOrKIa" style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; color: #00004C; margin-top: 0pt; margin-bottom: 3pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>What did the Fund invest in (as a % of the Fund’s net assets)?</b></span></p> <div style="float: left; width: 48%"> <p style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-top: 0; margin-bottom: 0"><img alt="" src="smicx_001.jpg" style="height: 292px; width: 370px"/></p> <p style="margin-top: 0; margin-bottom: 0"></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; width: 63%">Sector</td> <td style="display: none; width: 37%">Sector Exposure</td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Alternative Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--AlternativeFundsMember_zslu1ue5ZSU5" style="display: none">7.10%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Equity Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__us-gaap--EquityFundsMember_zhtJG88g8iP9" style="display: none">53.50%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Fixed Income Funds</td> <td style="display: none; text-align: right"><span id="xdx_900_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__us-gaap--FixedIncomeFundsMember_zrMZQoOhOe1h" style="display: none">29.30%</span></td></tr> <tr style="display: none; vertical-align: bottom"> <td style="display: none">Money Market Funds &amp; Other</td> <td style="display: none; text-align: right"><span id="xdx_905_eoef--PctOfTotalInv_iI_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--MoneyMarketFundsAndOtherMember_zubuk9ZF4LRb" style="display: none">10.10%</span></td></tr> </table> </div> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 0pt"> </span></p> 0.0710 0.5350 0.2930 0.1010 <p id="xdx_80A_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000196885Member_zKwHwL7OMYhd" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="3" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; background-color: rgb(242,242,242)"> <td colspan="2" style="border: rgb(0,0,102) 1pt solid; font: normal 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; color: #00004C"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt; color: #03014D"><b>Top Holdings (%)</b></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Intermediate-Term Bond Index Fund Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--VanguardIntermediateTermBondIndexFundAdmiralClassMember_zpG8ktL4pgSa">26.4</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left; width: 88%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Growth Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 12%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_903_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapGrowthFundClassIMember_zG28v51fLdU2">14.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Large Cap Value Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_906_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--SaratogaLargeCapValueFundClassIMember_zofLMKqBG338">14.5</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Saratoga Mid Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_905_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--SaratogaMidCapitalizationFundClassIMember_zNgCwruOqJ68">13.3</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Dreyfus Inst Prefer Govt Money Mkt Inst Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90A_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--DreyfusInstPreferGovtMoneyMktInstClassMember_zYRRc5Kji6Hk">10.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Eaton Vance Global Macro Absolute Return Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_901_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--EatonVanceGlobalMacroAbsoluteReturnFundClassIMember_z3MASLBdXcZi">7.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Saratoga Small Capitalization Fund, Class I</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_909_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--SaratogaSmallCapitalizationFundClassIMember_zVRtrdxe4nsa">6.6</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Total International Stock Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90E_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--VanguardTotalInternationalStockIndexFundAdmiralClassMember_zcVcA7SA5997">5.1</span></span></td></tr> <tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"> <td style="border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif">Vanguard Short-Term Bond Index Fund, Admiral Class</span></td> <td style="border-right: rgb(0,0,102) 1pt solid; border-bottom: rgb(0,0,102) 1pt solid; border-left: rgb(0,0,102) 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><span id="xdx_90F_eoef--PctOfNav_iI_dp_c20260228__oef--ClassAxis__custom--C000196885Member__oef--LargestHoldingAxis__custom--VanguardShortTermBondIndexFundAdmiralClassMember_za8LAqFLzlx7">2.9</span></span></td></tr> </table> 0.264 0.145 0.145 0.133 0.101 0.071 0.066 0.051 0.029