CION Investment Corp. (CION)

In the past six months, CION Investment Corp. reported strong Q3 2025 results and announced a shift to monthly distributions. In Q1 2025, CION reported $0.36 in quarterly net investment income, covering its base dividend, but its net asset value declined to $14.28. Share repurchases were undertaken in Q1 and Q2 2025. In Q3 2025, non-accruals in the portfolio increased from 1.3% to 1.75% of fair value. Over the last month, CION's stock has seen a 6.12% rise, and a 0.80% rise in the previous week, but it has decreased by 14.46% over the last year.

There is no explicit information indicating traditional demand seasonality for CION Investment Corp.'s products and services, as its business model is more tied to the cycles of capital markets and business investment rather than seasonal consumer demand. The demand for its lending and investment services is generally influenced by broader economic conditions, interest rate environments, and the capital needs of middle-market businesses.

CION Investment Corporation is a publicly traded Business Development Company that focuses on providing senior secured loans to private U.S. middle-market companies, aiming to generate current income and capital appreciation. The company's core business is direct lending, with a significant portion of its portfolio in senior secured loans. CION also invests in subordinated loans, equity interests, corporate bonds, and other debt securities, typically in U.S. middle-market companies with an EBITDA generally between $25 million and $75 million. CION's portfolio is diversified across numerous industries.

CION Investment Corp. primarily seeks to invest in companies located within the United States.

In the past year, CION Investment Corp. has maintained a reputation as a leading publicly listed business development company with a focus on private credit since 2012. Positive events include reporting strong Q3 2025 financial results and announcing a strategic shift to monthly shareholder distributions starting in 2026. However, the net asset value declined in Q1 2025, and an increase in non-accruals in Q3 2025 could raise concerns about credit quality.

The ownership structure of CION Investment Corp. is a mix of institutional, retail, and individual investors. Approximately 23.96% of the company's stock is owned by institutional investors, 0.42% by insiders, and 75.62% by public companies and individual investors. Invesco is identified as owning the most shares.