This note presents a method for analysis of random reference tracking in feedback systems with saturating actuators. The development is motivated by the frequency domain approach to linear systems, where the bandwidth and resonance peak of the sensitivity function are used to predict the quality of step reference tracking. Similarly, based on the so-called saturating random sensitivity function, we introduce tracking quality indicators and show that they can be used to determine both the quality of random reference tracking and the nature of track loss under actuator saturation. The shortcomings of the method are also discussed.