# Saratoga Research & Investment Management

> Saratoga Research & Investment Management is an SEC-registered investment advisory firm in Saratoga, CA, registered since 2000, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 6, 2026.

- CRD: 110506
- Filed as: SARATOGA RESEARCH & INVESTMENT MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Saratoga, CA
- Filing period: October 2026
- Form ADV filing dated: April 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110506
- AdvisorCensus page: https://advisorcensus.com/firm/saratoga-research-and-investment-management-saratoga-ca-110506

## Quick answers

**How is Saratoga Research & Investment Management compensated?**
On its Form ADV (Item 5.E, October 2026), Saratoga Research & Investment Management reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Saratoga Research & Investment Management located?**
Saratoga Research & Investment Management's principal office is in Saratoga, CA, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Saratoga Research & Investment Management registered with the SEC or a state?**
Saratoga Research & Investment Management is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 110506.

**How much does Saratoga Research & Investment Management manage?**
Saratoga Research & Investment Management reports $2,509,313,823 in regulatory assets under management in its Form ADV filing dated April 6, 2026 (98% discretionary).

**How have Saratoga Research & Investment Management's assets and staff changed since 2021?**
In the Form ADV data for Saratoga Research & Investment Management: Regulatory assets under management: $2,631,534,467 in the October 2021 data and $2,509,313,823 in the October 2026 data, down 5%. Total employees: 21 in October 2021 and 21 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Saratoga Research & Investment Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (2,103); high net worth individuals (451); corporations or other businesses not listed above (90).

**Which custodians does Saratoga Research & Investment Management use?**
Saratoga Research & Investment Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Finemark and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Saratoga Research & Investment Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110506

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Finemark
- National Financial Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,509,313,823
- Discretionary: $2,466,272,609
- Non-discretionary: $43,041,214

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 2,103 | $748,375,077 |
| High net worth individuals | 451 | $1,161,459,063 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 1 | $173,529,435 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 64 | $57,753,468 |
| Charitable organizations | 31 | $58,208,281 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 90 | $309,988,499 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Other

### Firm details
- Registered since: 2000 (26 years)
- Employees: 21 total, 12 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AL, AZ, CA, CO, CT, FL, GA, HI, ID, IL, IN, LA, MA, MD, MI, MN, MO, MS, MT, NC, NH, NJ, NM, NV, NY, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, WA, WI, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Seattle, WA

### Websites listed on Form ADV (Item 1.I)
- [saratogarim.com](https://saratogarim.com)
- LinkedIn @saratoga-rim

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,631,534,467 | 21 | April 26, 2021 |
| October 2022 | $2,957,760,687 | 21 | April 19, 2022 |
| October 2023 | $2,603,780,552 | 23 | April 28, 2023 |
| October 2024 | $2,740,178,823 | 23 | April 5, 2024 |
| October 2025 | $2,511,054,488 | 22 | April 11, 2025 |
| October 2026 | $2,509,313,823 | 21 | April 6, 2026 |

Regulatory assets under management: $2,631,534,467 in the October 2021 data and $2,509,313,823 in the October 2026 data, down 5%.
Total employees: 21 in October 2021 and 21 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Saratoga Research & Investment Management (CRD 110506): Form ADV filing data as of October 2026.