Cion Investment Corp
NYSE:CION
Cion Investment Corp
CION Investment Corp. operates as a non-trading business development company. The company is headquartered in New York City, New York. The company went IPO on 2021-01-19. The firm's investment objective is to generate current income and, to a lesser extent, capital appreciation for investors. The firm's portfolio is comprised primarily of investments in senior secured debt, including first lien loans, second lien loans and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded United States middle-market companies. The firm's investment portfolio includes healthcare and pharmaceuticals, chemicals, plastics and rubber, high tech industries, beverage, food and tobacco, capital equipment, banking, finance, insurance and real estate, aerospace and defense, construction and building, telecommunications, hotel, gaming and leisure, retail, and metals and mining. Its investment adviser is CION Investment Management, LLC.
CION Investment Corp. operates as a non-trading business development company. The company is headquartered in New York City, New York. The company went IPO on 2021-01-19. The firm's investment objective is to generate current income and, to a lesser extent, capital appreciation for investors. The firm's portfolio is comprised primarily of investments in senior secured debt, including first lien loans, second lien loans and unitranche loans, and, to a lesser extent, collateralized securities, structured products and other similar securities, unsecured debt, and equity, of private and thinly-traded United States middle-market companies. The firm's investment portfolio includes healthcare and pharmaceuticals, chemicals, plastics and rubber, high tech industries, beverage, food and tobacco, capital equipment, banking, finance, insurance and real estate, aerospace and defense, construction and building, telecommunications, hotel, gaming and leisure, retail, and metals and mining. Its investment adviser is CION Investment Management, LLC.
Strong Quarter: CION delivered robust Q3 results with significant earnings and continued growth in net asset value (NAV).
Net Investment Income: Reported $0.74 per share in net investment income, up sharply from $0.32 in Q2, driven by active transaction and fee events.
NAV Growth: NAV increased 2.5% quarter-over-quarter to $14.86, supported by fair value gains in key equity holdings and share repurchases.
Share Repurchases: Repurchased 330,000 shares in Q3 at $9.86 per share, and continued buybacks in Q4 at $9.33 per share.
Portfolio Quality: Portfolio nonaccruals remain low at 1.75% of fair value; credit quality is stable with 98% of the portfolio risk rated 3 or better.
Distribution Policy Change: Announced shift to monthly base distributions starting January 2026, and declared a Q4 distribution of $0.36 per share.
Selective Investment Approach: Remained cautious on new deals amid tighter spreads and looser credit terms but found value in opportunistic transactions.
Healthy Balance Sheet: Over $1 billion in unencumbered assets and strong liquidity position maintained.
