CION Investment Corp(CICB)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
CICB Stock Analysis & AI Quality Score
AI stock analysis and institutional research for CION Investment Corp (CICB). CICB is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), CION Investment Corp reports net income of $-23.0M, free cash flow of $-4.6M. Top institutional holders of CICB by reported 13-F value include Bulldog Investors, LLP, MORGAN STANLEY, LPL Financial, based on the most recent SEC filings. CICB trades on the NYSE exchange and files with the SEC under CIK 1534254. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CICB daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CION Investment Corp directly from SEC EDGAR.
Net Income
Q1 2026
$-23.0M
Free Cash Flow
Q1 2026
$-4.6M
D/E Ratio
Q1 2026
1.76
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Net Income
-32.4% YoYTotal Assets
+3.9% YoYTotal Debt
+15.5% YoYOp. Cash Flow
+150.0% YoY| Metric | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Net Income | $33.9M -32.4% | $50.1M -57.8% | $118.8M +1177.5% | $-11.0M | — |
| Total Assets | $1.95B +3.9% | $1.87B +5.0% | $1.78B | — | — |
| Total Debt | $1.10B +15.5% | $951.3M +15.7% | $822.4M | — | — |
| Operating Cash Flow | $88.2M +150.0% | $35.3M +171.6% | $-49.2M -124.8% | $198.7M | — |
AI Insight: CICB Financial Trends
CION's equity base eroded 23% over two years to $660M while debt climbed to $1,158M, showing deteriorating capital structure.
• Total debt increased from $1,062M in Q2 2024 to $1,158M in Q1 2026, a 9% rise.
• Equity declined from $861M in Q2 2024 to $660M in Q1 2026, eroding $201M of shareholder value.
• Net income volatility persists with losses of $43M in Q1 2025 and $41M in Q4 2025.
⚠ Operating cash flow turned negative in Q4 2025 and Q1 2026 after positive flows in prior quarters.
⚠ Debt-to-equity ratio worsened from 1.2x in Q2 2024 to 1.8x in Q1 2026, indicating rising leverage risk.
AI Insight: CICB Ratio Trends
CION's profitability remains highly volatile with negative ROE and ROA in the latest quarter despite improved leverage metrics.
• ROE swung from 18.6% in Q3 2025 to -23.2% in Q4 2025, then improved to -14.0% in Q1 2026.
• ROA followed similar volatility, dropping from 7.6% in Q3 2025 to -8.9% in Q4 2025.
• Debt-to-equity ratio increased from 1.40 in Q3 2025 to 1.76 in Q1 2026.
⚠ Extreme quarterly profitability swings suggest unstable underlying business fundamentals requiring close monitoring.
⚠ Rising leverage coinciding with negative returns indicates potential financial stress.
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Available Research
13F Pro tracks comprehensive data for CION Investment Corp including:
Top Institutional Holders of CICB
Bulldog Investors, LLP
$10.5M1,538,071 shMORGAN STANLEY
$7.9M1,152,950 shLPL Financial LLC
$6.8M989,153 shPrivate Advisor Group, LLC
$5.9M860,616 shUBS Group AG
$4.7M683,002 shInvesco Ltd.
$4.2M617,425 shCallodine Capital Management, LP
$4.2M612,388 shBerger Financial Group, Inc
$2.8M406,899 shD. E. Shaw & Co., Inc.
$2.4M348,640 shArkadios Wealth Advisors
$2.3M335,418 sh
| Fund | Value | Shares |
|---|---|---|
| Bulldog Investors, LLP | $10.5M | 1,538,071 |
| MORGAN STANLEY | $7.9M | 1,152,950 |
| LPL Financial LLC | $6.8M | 989,153 |
| Private Advisor Group, LLC | $5.9M | 860,616 |
| UBS Group AG | $4.7M | 683,002 |
| Invesco Ltd. | $4.2M | 617,425 |
| Callodine Capital Management, LP | $4.2M | 612,388 |
| Berger Financial Group, Inc | $2.8M | 406,899 |
| D. E. Shaw & Co., Inc. | $2.4M | 348,640 |
| Arkadios Wealth Advisors | $2.3M | 335,418 |
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Popular Research
Is CICB a good stock to buy?
13F Pro's AI-powered analysis of CION Investment Corp (CICB) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CICB are available on the CICB stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own CICB?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CICB. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of CION Investment Corp's investment landscape.