---
title: "CION 10-K: $240.8M Investment Income, $(0.39) EPS Impact"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278862289.md"
description: "CION reported $240.8 million in investment income for the year, with a net decrease in assets from operations of $(20.6) million, influenced by realized and unrealized losses. Net investment income after taxes was $93.0 million, down from $95.9 million in 2024. Operating expenses totaled $147.8 million. The portfolio is primarily focused on senior secured first-lien debt (81%), with a gross yield of approximately 9.2%. The company continues its regular monthly distributions and share repurchase program."
datetime: "2026-03-12T10:15:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278862289.md)
  - [en](https://longbridge.com/en/news/278862289.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278862289.md)
---

# CION 10-K: $240.8M Investment Income, $(0.39) EPS Impact

CION reported $240.8 million of investment income for the year and net (decrease) increase in net assets resulting from operations of $(20.6) million, driven by realized and unrealized losses; net investment income after taxes was $93.0 million. The company recorded operating expenses and income taxes of $147.8 million and reported net (decrease) increase in net assets per share resulting from operations of $(0.39) (basic and diluted). Lower short‑term rates (SOFR) and portfolio valuation changes materially influenced revenue and reported results.

**Financial Highlights**

-   **Investment income**: $240.8 million (primary revenue in Part II, Item 8; declined versus 2024 due to lower SOFR).
-   **Operating expenses and income taxes**: $147.8 million (includes management fees, subordinated incentive fee and interest expense; interest expense down versus 2024).
-   **Net (decrease) increase in net assets resulting from operations**: $(20.6) million (loss driven by $39.6 million realized loss and $74.1 million unrealized depreciation).
-   **Net investment income after taxes**: $93.0 million (core operating income after expenses; down versus $95.9 million in 2024).
-   **Net (decrease) increase in net assets per share resulting from operations**: $(0.39) per share (basic and diluted).

**Business Highlights**

-   **Portfolio composition shift**: Continued emphasis on senior secured first‑lien debt, comprising approximately 81% of the portfolio, with increased equity exposure around 18%.
-   **Revenue mix & yield**: Primary revenue remains floating‑rate interest; gross portfolio yield approximately 9.2%, with interest income sensitive to short‑term rate movements.
-   **Liquidity & capital deployment**: Maintained cash and short‑term investments and preserved available secured capacity to fund new investments and support distributions.
-   **Operational partnerships & management**: Continued external management by CIM with valuation oversight and AIM providing operational support services.
-   **Distribution policy & share repurchases**: Continued regular monthly base distributions and an active share repurchase program operating under a 10b5‑1 plan.

Original SEC Filing: CION Investment Corp \[ CION \] - 10-K - Mar. 11, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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