# EDGAR Filing Document

**Accession Number:** 0000924628
**File Stem:** 0000910472-25-002616
**Filing Date:** 2025-10
**Character Count:** 17513
**Document Hash:** 6f49c5adbd34326b94393e25e3d705fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-002616.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0000910472-25-002616

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SARATOGA ADVANTAGE TRUST
- **CENTRAL INDEX KEY:** 0000924628

**ORGANIZATION NAME:**
- **EIN:** 137044280
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08542
- **FILM NUMBER:** 251429445

**BUSINESS ADDRESS:**
- **STREET 1:** 1616 N LITCHFIELD RD.
- **STREET 2:** SUITE 165
- **CITY:** GOODYEAR
- **STATE:** AZ
- **ZIP:** 85395
- **BUSINESS PHONE:** 623-266-4567

**MAIL ADDRESS:**
- **STREET 1:** 1616 N LITCHFIELD RD.
- **STREET 2:** SUITE 165
- **CITY:** GOODYEAR
- **STATE:** AZ
- **ZIP:** 85395

## Series and Classes Contracts Data

### Energy & Basic Materials Portfolio (Series ID: S000010894)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000030191 | Energy & Basic Materials Class I | SEPIX           |
| C000030193 | Energy & Basic Materials Class C | SEPCX           |
| C000030194 | Energy & Basic Materials Class A | SBMBX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SARATOGA ADVANTAGE TRUST

- **b. Investment Company Act file number:** 811-08542

- **c. CIK number of Registrant:** 0000924628

- **d. LEI of Registrant:** 549300ELDSPPW4ZGNR88

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 12725 W. Indian School Road

  - **City:** AVONDALE

  - **State:** AZ

  - **Foreign country:** US

  - **Zip / Postal Code:** 85392

  - **Telephone number:** 623-266-4567

**Item A.2. Information about the Series.**

- **a. Name of Series:** Saratoga Energy & Basic Materials Portfolio

- **b. EDGAR series identifier (if any):** S000010894

- **c. LEI of Series:** 5493007VDLF2KYFPYM79

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1069494.05

**Total Liabilities:** $55582.40

**Net Assets:** $1013911.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000030191 | 3.70%                | 1.40%                | 4.59%                |
| Class ID C000030193 | 3.63%                | 1.38%                | 4.50%                |
| Class ID C000030194 | 3.64%                | 1.46%                | 4.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8593.39                 | $26381.38                                  |
| Month 2  | $1302.97                 | $15597.33                                  |
| Month 3  | $872.60                  | $39224.20                                  |

### Schedule of Portfolio Investments

| Name                               | Title            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Canadian Natural Resources Limited | CAN NATURAL RES  | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |       344 | NS      | $10887.60     | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corporation               | HUNTSMAN CORP    | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |       743 | NS      | $8291.88      | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemicals, Inc.     | AIR PRODS & CHEM | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |        50 | NS      | $14705.50     | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                     | CONOCOPHILLIPS   | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |       246 | NS      | $24346.62     | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                       | GLENCORE PLC-ADR | CUSIP: 37827X100<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |      2529 | NS      | $19877.94     | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                   | TOTALENER-SP ADR | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |       305 | NS      | $19138.75     | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                     | BHP GROUP-ADR    | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |       430 | NS      | $23981.10     | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Technip Energies N V               | TECHN ADR - SPON | CUSIP: 87854Y109<br>LEI: 724500FLODI49NSCIP70 | Long             | EC               | CORP              | NL        |       172 | NS      | $7948.12      | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                            | ENI SPA-ADR      | CUSIP: 26874R108<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |       850 | NS      | $30404.50     | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Civitas Resources Inc              | CIVITAS RESOURCE | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               | CORP              | US        |       340 | NS      | $12505.20     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                            | BASF SE-ADR      | CUSIP: 055262505<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |      1238 | NS      | $16453.02     | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co.            | INTL PAPER CO    | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |       440 | NS      | $21859.20     | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc.                 | EOG RESOURCES    | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       271 | NS      | $33826.22     | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Company           | EASTMAN CHEMICAL | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |       242 | NS      | $17022.28     | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| POSCO Holdings Inc.                | POSCO-SPON ADR   | CUSIP: 693483109<br>LEI: 988400E5HRVX81AYLM04 | Long             | EC               | CORP              | KR        |       289 | NS      | $14909.51     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                          | LINDE PLC        | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |        88 | NS      | $42089.52     | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp.                       | B2GOLD CORP      | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |      6243 | NS      | $25783.59     | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                            | DOW INC          | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |       556 | NS      | $13694.28     | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corporation                  | NUCOR CORP       | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       132 | NS      | $19632.36     | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Company                | HALLIBURTON CO   | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |       650 | NS      | $14774.50     | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                | KINDER MORGAN IN | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      1196 | NS      | $32268.08     | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA             | PETROBRAS SA-ADR | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |      2716 | NS      | $33678.40     | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                          | SHELL PLC-ADR    | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |       296 | NS      | $21868.48     | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                      | CHEVRON CORP     | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       457 | NS      | $73394.20     | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale S.A.                          | VALE SA-SP ADR   | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |      2177 | NS      | $22379.56     | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                             | BP PLC-ADR       | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |       529 | NS      | $18636.67     | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| The Mosaic Company                 | MOSAIC CO/THE    | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |       716 | NS      | $23914.40     | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc             | DIAMONDBACK ENER | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |       144 | NS      | $21421.44     | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecopetrol S.A.                     | ECOPETROL-SP ADR | CUSIP: 279158109<br>LEI: 254900IDGKCJICKBPA66 | Long             | EC               | CORP              | CO        |      1416 | NS      | $13310.40     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                     | PBF ENERGY INC-A | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |       497 | NS      | $13578.04     | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                        | OVINTIV INC      | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |       518 | NS      | $21818.16     | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.               | EAGLE MATERIALS  | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |        61 | NS      | $14084.90     | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corporation               | CELANESE CORP    | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |       121 | NS      | $5763.23      | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC                 | ANGLO AM-SP ADR  | CUSIP: 03485P409<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |       456 | NS      | $6999.60      | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Instl Resv                 | DREYFUS-INS-IS   | CUSIP: 26200X100<br>LEI: 549300FG0OZ5YKPLK622 | Long             | STIV             | RF                | US        |     18686 | PA      | $18685.51     | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries, Inc.               | PPG INDS INC     | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |       159 | NS      | $17685.57     | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Oneok Inc.                         | ONEOK INC        | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |       321 | NS      | $24517.98     | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV       | LYONDELLBASELL-A | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | NL        |       255 | NS      | $14369.25     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp.                 | KINROSS GOLD     | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |      1660 | NS      | $34694.00     | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                      | ENBRIDGE INC     | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |       294 | NS      | $14211.96     | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                  | EXXON MOBIL CORP | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |       676 | NS      | $77260.04     | 7.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                      | RIO TINTO-ADR    | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |       605 | NS      | $37945.60     | 3.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                 | SUNCOR ENERGY    | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |       693 | NS      | $28620.90     | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp.           | MARATHON PETROLE | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |       113 | NS      | $20307.23     | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                | EXPAND ENERGY CO | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |       166 | NS      | $16065.48     | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-26

**Name of Applicant:** SARATOGA ADVANTAGE TRUST

**Signature:** Rich Gleason

**Name of Signer:** Rich Gleason

**Title:** Assistant Treasurer