CION INVESTMENT CORPORATION CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | Fair Value (a) | % of Net | ||||||||||
Date | Date | Amount (a) | Assets | ||||||||||||||||
SENIOR LOANS(b)(c)(d) | |||||||||||||||||||
Automobiles and Components | |||||||||||||||||||
Automotive Keys | 1st Lien Term | 11.71% | |||||||||||||||||
(3M SOFR | 11/06/2025 | $ 1,654 | $ | 1,605 | (e)(f) | ||||||||||||||
Group, LLC | Loan | + 6.25%) | |||||||||||||||||
Automotive Keys | 1st Lien Term | 11.71% | |||||||||||||||||
(3M SOFR | 11/06/2025 | 234 | 227 | (e) | |||||||||||||||
Group, LLC | Loan | + 6.25%) | |||||||||||||||||
1st Lien Term | 8.33% (1M | ||||||||||||||||||
Clarios Global LP | SOFR + | 05/06/2030 | 7,817 | 7,830 | |||||||||||||||
Loan | 3.00%) | ||||||||||||||||||
Collision SP | 1st Lien | 10.82% | |||||||||||||||||
Revolving | (6M SOFR | 01/29/2030 | 11 | 11 | (e)(h) | ||||||||||||||
Subco, LLC | Loan | + 5.50%) | |||||||||||||||||
Collision SP | 1st Lien Term | 10.82% | |||||||||||||||||
(3M SOFR | 01/29/2030 | 746 | 731 | (e) | |||||||||||||||
Subco, LLC | Loan | + 5.50%) | |||||||||||||||||
Collision SP | 1st Lien | 10.74% | |||||||||||||||||
Delay Draw | (6M SOFR | 01/29/2030 | 20 | 20 | (e)(h) | ||||||||||||||
Subco, LLC | Term Loan | + 5.50%) | |||||||||||||||||
Continental | 1st Lien | 9.18% (3M | |||||||||||||||||
Acquisition | Revolving | SOFR + | 01/20/2026 | 1 | 1 | (e)(h) | |||||||||||||
Holdings, Inc. | Loan | 3.75%) | |||||||||||||||||
Continental | 1st Lien Term | 12.46% | |||||||||||||||||
Acquisition | (3M SOFR | 01/20/2027 | 6,020 | 4,816 | (e)(f) | ||||||||||||||
Holdings, Inc. | Loan | + 7.00%) | |||||||||||||||||
Continental | 1st Lien | 12.46% | |||||||||||||||||
Acquisition | Delay Draw | (3M SOFR | 01/20/2027 | 1,462 | 1,170 | (e)(f) | |||||||||||||
Holdings, Inc. | Term Loan | + 7.00%) | |||||||||||||||||
Highline | 1st Lien | ||||||||||||||||||
Aftermarket | Revolving | 11/10/2025 | - | - | (e)(h) | ||||||||||||||
Acquisition, LLC | Loan | ||||||||||||||||||
Highline | 2nd Lien | 13.47% | |||||||||||||||||
Aftermarket | (3M SOFR | 11/09/2028 | 5,942 | 5,942 | (e)(f) | ||||||||||||||
Acquisition, LLC | Term Loan | + 8.00%) | |||||||||||||||||
Highline | 2nd Lien | 13.47% | |||||||||||||||||
Aftermarket | Delay Draw | (3M SOFR | 11/09/2028 | 4,209 | 4,209 | (e) | |||||||||||||
Acquisition, LLC | Term Loan | + 8.00%) | |||||||||||||||||
New Churchill | 1st Lien | ||||||||||||||||||
Revolving | 11/09/2029 | - | - | (e)(h) | |||||||||||||||
Holdco LLC | Loan | ||||||||||||||||||
New Churchill | 1st Lien Term | 10.81% | |||||||||||||||||
(3M SOFR | 11/09/2029 | 1,210 | 1,185 | (e)(f) | |||||||||||||||
Holdco LLC | Loan | + 5.50%) | |||||||||||||||||
New Churchill | 1st Lien | 10.83% | |||||||||||||||||
Delay Draw | (3M SOFR | 11/09/2029 | 383 | 375 | (e)(h) | ||||||||||||||
Holdco LLC | Term Loan | + 5.50%) | |||||||||||||||||
Sun Acquirer | 1st Lien | ||||||||||||||||||
Revolving | 09/08/2027 | - | - | (e)(h) | |||||||||||||||
Corp. | Loan | ||||||||||||||||||
Sun Acquirer | 1st Lien Term | 11.19% | |||||||||||||||||
(1M SOFR | 09/08/2028 | 6,466 | 6,466 | (e) | |||||||||||||||
Corp. | Loan | + 5.75%) | |||||||||||||||||
Sun Acquirer | 1st Lien Term | 11.19% | |||||||||||||||||
(1M SOFR | 09/08/2028 | 1,726 | 1,726 | (e)(f) | |||||||||||||||
Corp. | Loan | + 5.75%) | |||||||||||||||||
Sun Acquirer | 1st Lien | 11.19% | |||||||||||||||||
Delay Draw | (1M SOFR | 09/08/2028 | 4,702 | 4,702 | (e) | ||||||||||||||
Corp. | Term Loan | + 5.75%) | |||||||||||||||||
Truck-Lite Co., | 1st Lien | 11.07% | |||||||||||||||||
LLC and Ecco | Revolving | (3M SOFR | 02/13/2030 | 44 | 43 | (e)(h) | |||||||||||||
Holdings Corp. | Loan | + 5.75%) | |||||||||||||||||
Truck-Lite Co., | 1st Lien Term | 11.06% | |||||||||||||||||
LLC and Ecco | (3M SOFR | 02/13/2031 | 11,365 | 11,138 | (e)(g) | ||||||||||||||
Holdings Corp. | Loan | + 5.75%) | |||||||||||||||||
Truck-Lite Co., | 1st Lien | ||||||||||||||||||
LLC and Ecco | Delay Draw | 02/13/2031 | - | - | (e)(g)(h) | ||||||||||||||
Holdings Corp. | Term Loan | ||||||||||||||||||
Wand Newco 3, | 1st Lien Term | 9.08% (1M | |||||||||||||||||
SOFR + | 01/30/2031 | 17,959 | 18,001 | ||||||||||||||||
Inc. | Loan | 3.75%) | |||||||||||||||||
70,198 | 1.98 % | ||||||||||||||||||
Capital Goods |
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
AIM Acquisition, | 1st Lien | 10.44% | |||||||||||||
Revolving | (3M SOFR | 12/02/2025 | 46 | ||||||||||||
LLC | Loan | + 5.00%) | |||||||||||||
AIM Acquisition, | 1st Lien Term | 10.49% | |||||||||||||
(6M SOFR | 12/02/2025 | 212 | |||||||||||||
LLC | Loan | + 5.00%) | |||||||||||||
Airx Climate | 1st Lien | 11.57% | |||||||||||||
Revolving | (1M SOFR | 11/07/2029 | 26 | ||||||||||||
Solutions, Inc. | Loan | + 6.25%) | |||||||||||||
Airx Climate | 1st Lien Term | 11.68% | |||||||||||||
(3M SOFR | 11/07/2029 | 1,509 | |||||||||||||
Solutions, Inc. | Loan | + 6.25%) | |||||||||||||
Airx Climate | 1st Lien | ||||||||||||||
Delay Draw | 11/07/2029 | - | |||||||||||||
Solutions, Inc. | Term Loan | ||||||||||||||
AllClear Military | 1st Lien Term | 10.45% | |||||||||||||
(3M SOFR | 08/10/2025 | 1,914 | |||||||||||||
Inc. | Loan | + 5.00%) | |||||||||||||
Artera Services, | 1st Lien Term | 9.81% (3M | |||||||||||||
SOFR + | 02/15/2031 | 7,829 | |||||||||||||
LLC | Loan | 4.50%) | |||||||||||||
Barentz | Netherlands | 1st Lien Term | 03/30/2031 | 5,000 | |||||||||||
International B.V. | Loan | ||||||||||||||
BlueHalo Global | 1st Lien | ||||||||||||||
Revolving | 10/31/2025 | - | |||||||||||||
Holdings, LLC | Loan | ||||||||||||||
BlueHalo Global | 1st Lien Term | 10.09% | |||||||||||||
(3M SOFR | 10/31/2025 | 4,678 | |||||||||||||
Holdings, LLC | Loan | + 4.75%) | |||||||||||||
11.48% | |||||||||||||||
Box Bidco | United | 1st Lien Term | (6M | ||||||||||||
EURIBOR | 11/24/2028 | € | 878 | ||||||||||||
Limited | Kingdom | Loan | + 7.42%) | ||||||||||||
Box Bidco | United | 1st Lien Term | 11.50% | ||||||||||||
(6M SOFR | 11/24/2028 | 1,691 | |||||||||||||
Limited | Kingdom | Loan | + 5.75%) | ||||||||||||
Brown Group | 1st Lien Term | 8.18% (1M | |||||||||||||
SOFR + | 06/07/2028 | 4,946 | |||||||||||||
Holding, LLC | Loan | 2.75%) | |||||||||||||
Brown Group | 1st Lien Term | 8.31% (3M | |||||||||||||
SOFR + | 07/02/2029 | 2,496 | |||||||||||||
Holding, LLC | Loan | 3.00%) | |||||||||||||
Burgess Point | 1st Lien Term | 10.68% | |||||||||||||
Purchaser | (1M SOFR | 07/25/2029 | 4,136 | ||||||||||||
Corporation | Loan | + 5.25%) | |||||||||||||
Chart Industries, | 1st Lien Term | 8.67% (1M | |||||||||||||
SOFR + | 03/15/2030 | 6,361 | |||||||||||||
Inc. | Loan | 3.25%) | |||||||||||||
CP Atlas Buyer | 1st Lien Term | 9.18% (1M | |||||||||||||
SOFR + | 11/23/2027 | 6,985 | |||||||||||||
Inc | Loan | 3.75%) | |||||||||||||
1st Lien | 10.18% | ||||||||||||||
CPIG Holdco Inc. | Revolving | (3M SOFR | 04/28/2028 | 1 | |||||||||||
Loan | + 4.75%) | ||||||||||||||
1st Lien Term | 12.41% | ||||||||||||||
CPIG Holdco Inc. | (3M SOFR | 04/28/2028 | 3,844 | ||||||||||||
Loan | + 7.00%) | ||||||||||||||
Crown Subsea | 1st Lien Term | 10.07% | |||||||||||||
Communications | (3M SOFR | 01/30/2031 | 3,847 | ||||||||||||
Holding, Inc. | Loan | + 4.75%) | |||||||||||||
Cube Industrials | 1st Lien | ||||||||||||||
Buyer, Inc. & | |||||||||||||||
Cube A&D Buyer | Revolving | 10/18/2029 | - | ||||||||||||
Inc. | Loan | ||||||||||||||
Cube Industrials | 11.30% | ||||||||||||||
Buyer, Inc. & | 1st Lien Term | ||||||||||||||
Cube A&D Buyer | (3M SOFR | 10/18/2030 | 4,308 | ||||||||||||
Inc. | Loan | + 6.00%) | |||||||||||||
Dynamic NC | 1st Lien | 12.48% | |||||||||||||
Aerospace | Revolving | (3M SOFR | 12/30/2025 | 691 | |||||||||||
Holdings, LLC | Loan | + 7.00%) | |||||||||||||
Dynamic NC | 1st Lien Term | 12.48% | |||||||||||||
Aerospace | (3M SOFR | 12/30/2026 | 2,720 | ||||||||||||
Holdings, LLC | Loan | + 7.00%) |
Fair Value (a) | % of Net | |
Assets |
- (e)(h)
- (e)(f)
- (e)(h)
1,471 (e)(f)
-
(e)(h)
1,339 (e)
7,852
5,012 (e)(i)
-
(e)(h)
4,678 (e)(f)
947 (e)(f)
1,691 (e)(f)
4,940
2,495
3,935
6,369
6,892
- (e)(h)
3,844 (e)
3,867
- (e)(h)
4,308 (e)
691 (e)(h)
2,720 (e)(f)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
Dynasty | 1st Lien Term | ||||||||||||||
Acquisition Co., | 08/24/2028 | 17,344 | |||||||||||||
Inc. | Loan | ||||||||||||||
Eleda BidCo AB | 10.29% | ||||||||||||||
1st Lien Term | (3M | ||||||||||||||
(fka EISG BidCo | Sweden | STIBOR + | 06/30/2026 | SEK | 45,107 | ||||||||||
AB) | Loan | 6.25%) | |||||||||||||
Eleda BidCo AB | 1st Lien | 10.96% | |||||||||||||
(3M | |||||||||||||||
(fka EISG BidCo | Sweden | Delay Draw | NIBOR + | 06/30/2026 | SEK | 2,106 | |||||||||
AB) | Term Loan | 6.25%) | |||||||||||||
Eleda BidCo AB | 1st Lien | 10.29% | |||||||||||||
(3M | |||||||||||||||
(fka EISG BidCo | Sweden | Delay Draw | STIBOR + | 06/30/2026 | SEK | 9,070 | |||||||||
AB) | Term Loan | 6.25%) | |||||||||||||
EPS NASS | 1st Lien | 11.21% | |||||||||||||
Revolving | (3M SOFR | 04/17/2026 | 135 | ||||||||||||
Parent, Inc. | Loan | + 5.75%) | |||||||||||||
EPS NASS | 1st Lien Term | 11.21% | |||||||||||||
(3M SOFR | 04/19/2028 | 5,701 | |||||||||||||
Parent, Inc. | Loan | + 5.75%) | |||||||||||||
EPS NASS | 1st Lien | 11.21% | |||||||||||||
Delay Draw | (3M SOFR | 04/19/2028 | 321 | ||||||||||||
Parent, Inc. | Term Loan | + 5.75%) | |||||||||||||
Helix Acquisition | 1st Lien Term | 12.40% | |||||||||||||
(3M SOFR | 03/29/2030 | 473 | |||||||||||||
Holdings, Inc. | Loan | + 7.00%) | |||||||||||||
Husky Injection | 1st Lien Term | 8.44% (1M | |||||||||||||
Molding Systems | Canada | SOFR + | 03/28/2025 | 15,047 | |||||||||||
Ltd. | Loan | 3.00%) | |||||||||||||
Husky Injection | 1st Lien Term | ||||||||||||||
Molding Systems | Canada | 02/01/2029 | 16,000 | ||||||||||||
Ltd. | Loan | ||||||||||||||
INNIO Group | 1st Lien Term | 8.18% (3M | |||||||||||||
Germany | EURIBOR | 11/02/2028 | € | 6,900 | |||||||||||
Holding GmbH | Loan | + 4.25%) | |||||||||||||
Kaman | 1st Lien Term | 03/26/2031 | 8,000 | ||||||||||||
Corporation | Loan | ||||||||||||||
Kene Acquisition, | 1st Lien | ||||||||||||||
Revolving | 02/07/2031 | - | |||||||||||||
Inc. | Loan | ||||||||||||||
Kene Acquisition, | 1st Lien Term | 10.57% | |||||||||||||
(6M SOFR | 02/07/2031 | 1,797 | |||||||||||||
Inc. | Loan | + 5.25%) | |||||||||||||
Kene Acquisition, | 1st Lien | ||||||||||||||
Delay Draw | 02/07/2031 | - | |||||||||||||
Inc. | Term Loan | ||||||||||||||
1st Lien Term | 8.82% (3M | ||||||||||||||
Kodiak BP, LLC | SOFR + | 03/12/2028 | 8,554 | ||||||||||||
Loan | 3.25%) | ||||||||||||||
Kodiak Building | 1st Lien Term | 03/17/2028 | 4,000 | ||||||||||||
Partners Inc. | Loan | ||||||||||||||
LBM Acquisition | 1st Lien Term | 9.18% (1M | |||||||||||||
SOFR + | 12/17/2027 | 8,221 | |||||||||||||
LLC | Loan | 3.75%) | |||||||||||||
Maverick | 1st Lien Term | 11.55% | |||||||||||||
(3M SOFR | 06/01/2027 | 5,227 | |||||||||||||
Acquisition, Inc. | Loan | + 6.25%) | |||||||||||||
Maverick | 1st Lien | 11.55% | |||||||||||||
Delay Draw | (3M SOFR | 06/01/2027 | 1,191 | ||||||||||||
Acquisition, Inc. | Term Loan | + 6.25%) | |||||||||||||
MIWD Holdco II | 1st Lien Term | 03/20/2031 | 2,000 | ||||||||||||
LLC | Loan | ||||||||||||||
Osmose Utilities | 1st Lien Term | 8.69% (1M | |||||||||||||
SOFR + | 06/23/2028 | 24,238 | |||||||||||||
Services, Inc. | Loan | 3.25%) | |||||||||||||
Osmose Utilities | 2nd Lien | 12.19% | |||||||||||||
(1M SOFR | 06/25/2029 | 8,237 | |||||||||||||
Services, Inc. | Term Loan | + 6.75%) | |||||||||||||
Osmosis Buyer | 1st Lien Term | 9.07% (1M | |||||||||||||
SOFR + | 07/31/2028 | 17,038 | |||||||||||||
Limited | Loan | 3.75%) | |||||||||||||
Osmosis Buyer | 1st Lien | 9.58% (1M | |||||||||||||
Delay Draw | SOFR + | 07/31/2028 | 2,267 | ||||||||||||
Limited | Term Loan | 4.25%) |
Fair Value (a) | % of Net | |
Assets | ||
17,364 | (i) | |
4,214 | (e)(f) | |
197 | (e) | |
847 | (e)(f) | |
135 | (e)(h) | |
5,701 | (e)(f) | |
321 | (e) | |
473 | (e) | |
15,028 | ||
16,033 | (i) | |
7,455 | ||
8,005 | (i) | |
- | (e)(h) | |
1,761 | (e) | |
- | (e)(h) | |
8,538 | ||
4,000 | (e)(i) | |
8,202 | ||
4,234 | (e)(f) | |
965 | (e) | |
2,007 | (i) | |
23,874 | ||
8,155 | (e) | |
17,057 | ||
2,276 | (h) |
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
Prime Buyer, | 1st Lien | ||||||||||||||
Revolving | 12/22/2026 | - | |||||||||||||
L.L.C. | Loan | ||||||||||||||
Prime Buyer, | 1st Lien Term | 10.68% | |||||||||||||
(1M SOFR | 12/22/2026 | 13,533 | |||||||||||||
L.L.C. | Loan | + 5.25%) | |||||||||||||
1st Lien | 10.94% | ||||||||||||||
Radius Aerospace | United | (1M | |||||||||||||
Revolving | SONIA + | 03/29/2025 | £ | 186 | |||||||||||
Europe Limited | Kingdom | Loan | 5.75%) | ||||||||||||
Radius Aerospace | United | 1st Lien Term | 11.21% | ||||||||||||
(3M SOFR | 03/29/2025 | 1,566 | |||||||||||||
Europe Limited | Kingdom | Loan | + 5.75%) | ||||||||||||
Radius | 1st Lien | 11.24% | |||||||||||||
Revolving | (3M SOFR | 03/29/2025 | 71 | ||||||||||||
Aerospace, Inc. | Loan | + 5.75%) | |||||||||||||
Radius | 1st Lien Term | 11.20% | |||||||||||||
(3M SOFR | 03/29/2025 | 2,246 | |||||||||||||
Aerospace, Inc. | Loan | + 5.75%) | |||||||||||||
Sigma Electric | 1st Lien | ||||||||||||||
Manufacturing | Revolving | 10/31/2024 | - | ||||||||||||
Corporation | Loan | ||||||||||||||
Sigma Electric | 1st Lien Term | 11.21% | |||||||||||||
Manufacturing | (3M SOFR | 10/31/2024 | 385 | ||||||||||||
Corporation | Loan | + 5.75%) | |||||||||||||
Specialty | 1st Lien Term | 9.18% (1M | |||||||||||||
Building Products | SOFR + | 10/15/2028 | 8,001 | ||||||||||||
Holdings, LLC | Loan | 3.75%) | |||||||||||||
1st Lien Term | 9.93% (1M | ||||||||||||||
SPX Flow, Inc. | SOFR + | 04/05/2029 | 5,500 | ||||||||||||
Loan | 4.50%) | ||||||||||||||
SRS Distribution | 1st Lien Term | 8.94% (1M | |||||||||||||
SOFR + | 06/02/2028 | 4,005 | |||||||||||||
Inc. | Loan | 3.50%) | |||||||||||||
SRS Distribution | 1st Lien Term | 8.68% (1M | |||||||||||||
SOFR + | 06/02/2028 | 3,303 | |||||||||||||
Inc. | Loan | 3.25%) | |||||||||||||
Sunk Rock | 1st Lien Term | 11.21% | |||||||||||||
Foundry Partners | (3M SOFR | 10/31/2024 | 192 | ||||||||||||
LP | Loan | + 5.75%) | |||||||||||||
1st Lien Term | 8.06% (3M | ||||||||||||||
TransDigm Inc. | SOFR + | 08/24/2028 | 17,807 | ||||||||||||
Loan | 2.75%) | ||||||||||||||
Two Six Labs, | 1st Lien | ||||||||||||||
Revolving | 08/20/2027 | - | |||||||||||||
LLC | Loan | ||||||||||||||
Two Six Labs, | 1st Lien Term | 10.81% | |||||||||||||
(3M SOFR | 08/20/2027 | 7,280 | |||||||||||||
LLC | Loan | + 5.50%) | |||||||||||||
Two Six Labs, | 1st Lien Term | 11.31% | |||||||||||||
(3M SOFR | 08/20/2027 | 1,335 | |||||||||||||
LLC | Loan | + 6.00%) | |||||||||||||
Two Six Labs, | 1st Lien | 10.81% | |||||||||||||
Delay Draw | (3M SOFR | 08/20/2027 | 2,828 | ||||||||||||
LLC | Term Loan | + 5.50%) | |||||||||||||
Victory Buyer | 1st Lien Term | 9.34% (3M | |||||||||||||
SOFR + | 11/19/2028 | 5,279 | |||||||||||||
LLC | Loan | 3.75%) | |||||||||||||
WEC US | 1st Lien Term | 8.08% (1M | |||||||||||||
SOFR + | 01/27/2031 | 21,108 | |||||||||||||
Holdings Ltd. | Loan | 2.75%) | |||||||||||||
1st Lien Term | 8.65% (3M | ||||||||||||||
Wilsonart LLC | SOFR + | 12/31/2026 | 16,145 | ||||||||||||
Loan | 3.25%) | ||||||||||||||
Commercial and Professional Services | |||||||||||||||
Aero Operating | 1st Lien Term | 14.45% | |||||||||||||
(3M SOFR | 02/09/2026 | 2,874 | |||||||||||||
LLC | Loan | + 9.00%) | |||||||||||||
Aero Operating | 1st Lien Term | 14.48% | |||||||||||||
(3M SOFR | 02/09/2026 | 91 | |||||||||||||
LLC | Loan | + 9.00%) | |||||||||||||
AMCP Clean | 1st Lien Term | 10.33% | |||||||||||||
Acquisition | (6M SOFR | 06/15/2028 | 808 | ||||||||||||
Company, LLC | Loan | + 5.00%) |
Fair Value (a) | % of Net |
Assets |
- (e)(h)
12,451 (e)(f)
- (e)
1,566 (e)(f)
- (e)(h)
2,246 (e)(f)
- (e)(h)
- (e)(f)
7,967
5,519
4,030
3,318
- (e)(f)
17,862
-
(e)(h)
7,280 (e)(f)
1,335 (e)
2,828 (e)
5,002
21,077
16,154
329,6929.29 %
2,443 (e)(f)
- (e)(f)
- (e)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
Applied | 1st Lien | 13.25% | |||||||||||||
Technical | Revolving | (PRIME + | 12/29/2026 | 130 | |||||||||||
Services, LLC | Loan | 4.75%) | |||||||||||||
Applied | 1st Lien Term | 11.20% | |||||||||||||
Technical | (3M SOFR | 12/29/2026 | 4,204 | ||||||||||||
Services, LLC | Loan | + 5.75%) | |||||||||||||
Applied | 1st Lien Term | 11.45% | |||||||||||||
Technical | (3M SOFR | 12/29/2026 | 571 | ||||||||||||
Services, LLC | Loan | + 6.00%) | |||||||||||||
Applied | 1st Lien Term | 11.20% | |||||||||||||
Technical | (3M SOFR | 12/29/2026 | 321 | ||||||||||||
Services, LLC | Loan | + 5.75%) | |||||||||||||
Applied | 1st Lien | 11.20% | |||||||||||||
Technical | Delay Draw | (3M SOFR | 12/29/2026 | 1,417 | |||||||||||
Services, LLC | Term Loan | + 5.75%) | |||||||||||||
Applied | 1st Lien | 11.20% | |||||||||||||
Technical | Delay Draw | (3M SOFR | 12/29/2026 | 4,081 | |||||||||||
Services, LLC | Term Loan | + 5.75%) | |||||||||||||
Applied | 1st Lien | 11.45% | |||||||||||||
Technical | Delay Draw | (3M SOFR | 12/29/2026 | 570 | |||||||||||
Services, LLC | Term Loan | + 6.00%) | |||||||||||||
Argenbright | 1st Lien Term | 12.71% | |||||||||||||
(3M SOFR | 11/30/2026 | 2,784 | |||||||||||||
Holdings V, LLC | Loan | + 7.25%) | |||||||||||||
Argenbright | 1st Lien | ||||||||||||||
Delay Draw | 11/30/2026 | - | |||||||||||||
Holdings V, LLC | Term Loan | ||||||||||||||
Armorica Lux | 1st Lien Term | 8.84% (3M | |||||||||||||
Luxembourg | EURIBOR | 07/28/2028 | € | 6,500 | |||||||||||
S.a.r.l. | Loan | + 4.93%) | |||||||||||||
Auxadi Midco | 1st Lien Term | 8.65% (3M | |||||||||||||
Spain | EURIBOR | 07/17/2028 | € | 473 | |||||||||||
S.L.U. | Loan | + 4.75%) | |||||||||||||
Capstone | 1st Lien | ||||||||||||||
Acquisition | Revolving | 11/12/2025 | - | ||||||||||||
Holdings, Inc. | Loan | ||||||||||||||
Capstone | 1st Lien Term | 10.18% | |||||||||||||
Acquisition | (1M SOFR | 11/12/2027 | 10,704 | ||||||||||||
Holdings, Inc. | Loan | + 4.75%) | |||||||||||||
Capstone | 1st Lien | 10.18% | |||||||||||||
Acquisition | Delay Draw | (1M SOFR | 11/12/2027 | 628 | |||||||||||
Holdings, Inc. | Term Loan | + 4.75%) | |||||||||||||
Capstone | 2nd Lien | 14.18% | |||||||||||||
Acquisition | (1M SOFR | 11/13/2028 | 3,008 | ||||||||||||
Holdings, Inc. | Term Loan | + 8.75%) | |||||||||||||
Compex Legal | 1st Lien | 10.85% | |||||||||||||
Revolving | (3M SOFR | 02/07/2025 | 180 | ||||||||||||
Services, Inc. | Loan | + 5.45%) | |||||||||||||
Compex Legal | 1st Lien Term | 10.86% | |||||||||||||
(3M SOFR | 02/09/2026 | 1,267 | |||||||||||||
Services, Inc. | Loan | + 5.45%) | |||||||||||||
Dispatch | 1st Lien Term | 9.70% (3M | |||||||||||||
Acquisition | SOFR + | 03/27/2028 | 14,755 | ||||||||||||
Holdings, LLC | Loan | 4.25%) | |||||||||||||
Dun & Bradstreet | 1st Lien Term | 8.08% (1M | |||||||||||||
SOFR + | 01/18/2029 | 10,101 | |||||||||||||
Corporation, The | Loan | 2.75%) | |||||||||||||
Eagle Parent | 1st Lien Term | 9.55% (3M | |||||||||||||
SOFR + | 04/02/2029 | 2,670 | |||||||||||||
Corp. | Loan | 4.25%) | |||||||||||||
Elevation | 1st Lien | 11.46% | |||||||||||||
Services Parent | Revolving | (3M SOFR | 12/18/2026 | 101 | |||||||||||
Holdings, LLC | Loan | + 6.00%) | |||||||||||||
Elevation | 1st Lien Term | 11.45% | |||||||||||||
Services Parent | (3M SOFR | 12/18/2026 | 1,306 | ||||||||||||
Holdings, LLC | Loan | + 6.00%) | |||||||||||||
Elevation | 1st Lien Term | 11.46% | |||||||||||||
Services Parent | (3M SOFR | 12/18/2026 | 623 | ||||||||||||
Holdings, LLC | Loan | + 6.00%) | |||||||||||||
Elevation | 1st Lien | 11.46% | |||||||||||||
Services Parent | Delay Draw | (3M SOFR | 12/18/2026 | 1,746 | |||||||||||
Holdings, LLC | Term Loan | + 6.00%) | |||||||||||||
Elevation | 1st Lien | 11.49% | |||||||||||||
Services Parent | Delay Draw | (3M SOFR | 12/18/2026 | 373 | |||||||||||
Holdings, LLC | Term Loan | + 6.00%) |
Fair Value (a) | % of Net |
Assets |
- (e)(h)
4,204 (e)(f)
- (e)
-
(e)
1,417 (e)(f)
4,080 (e)(h)
- (e)
2,784 (e)(f)
- (e)(h)
6,741
- (e)(g)
- (e)(h)
10,704 (e)(f)
-
(e)
3,008 (e)(f)
- (e)(h)
1,267 (e)(f)
13,667 (f)
10,096
2,644
-
(e)(h)
1,280 (e)(f)
- (e)(f)
1,711 (e)(f)
- (e)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | |||||||||
Date | Date | Amount (a) | ||||||||||||||
Erasmus | 11.95% | |||||||||||||||
1st Lien Term | (6M | |||||||||||||||
Acquisition | Netherlands | EURIBOR | 03/13/2030 | € | 3,323 | |||||||||||
Holding B.V. | Loan | + 8.06%) | ||||||||||||||
Erasmus | 1st Lien | 11.95% | ||||||||||||||
(6M | ||||||||||||||||
Acquisition | Netherlands | Delay Draw | EURIBOR | 03/13/2030 | € | 222 | ||||||||||
Holding B.V. | Term Loan | + 8.06%) | ||||||||||||||
Flywheel | 1st Lien | 11.83% | ||||||||||||||
Revolving | (1M SOFR | 05/12/2028 | 1,110 | |||||||||||||
Acquireco, Inc. | Loan | + 6.50%) | ||||||||||||||
Flywheel | 1st Lien Term | 11.83% | ||||||||||||||
(1M SOFR | 05/13/2030 | 13,748 | ||||||||||||||
Acquireco, Inc. | Loan | + 6.50%) | ||||||||||||||
1st Lien | ||||||||||||||||
HH-Stella, Inc. | Revolving | 04/22/2027 | - | |||||||||||||
Loan | ||||||||||||||||
1st Lien Term | 11.46% | |||||||||||||||
HH-Stella, Inc. | (3M SOFR | 04/24/2028 | 6,015 | |||||||||||||
Loan | + 6.00%) | |||||||||||||||
1st Lien | 11.46% | |||||||||||||||
HH-Stella, Inc. | Delay Draw | (3M SOFR | 04/24/2028 | 2,396 | ||||||||||||
Term Loan | + 6.00%) | |||||||||||||||
HP RSS Buyer, | 1st Lien Term | 10.32% | ||||||||||||||
(3M SOFR | 12/11/2029 | 1,265 | ||||||||||||||
Inc. | Loan | + 5.00%) | ||||||||||||||
HP RSS Buyer, | 1st Lien | 10.32% | ||||||||||||||
Delay Draw | (3M SOFR | 12/11/2029 | 270 | |||||||||||||
Inc. | Term Loan | + 5.00%) | ||||||||||||||
HP RSS Buyer, | 1st Lien | 10.31% | ||||||||||||||
Delay Draw | (3M SOFR | 12/11/2029 | 357 | |||||||||||||
Inc. | Term Loan | + 5.00%) | ||||||||||||||
Integrated Power | 2nd Lien | 12.93% | ||||||||||||||
Services | (1M SOFR | 11/23/2029 | 4,983 | |||||||||||||
Holdings, Inc. | Term Loan | + 7.50%) | ||||||||||||||
IRI Group | 1st Lien | 11.08% | ||||||||||||||
Revolving | (1M SOFR | 12/01/2027 | 731 | |||||||||||||
Holdings, Inc. | Loan | + 5.75%) | ||||||||||||||
IRI Group | 1st Lien Term | 11.58% | ||||||||||||||
(3M SOFR | 12/01/2028 | 25,056 | ||||||||||||||
Holdings, Inc. | Loan | + 6.25%) | ||||||||||||||
1st Lien | 15.94% | |||||||||||||||
Ishtar Bidco | United | (6M | ||||||||||||||
Delay Draw | SONIA + | 11/26/2025 | £ | 735 | ||||||||||||
Norway AS | Kingdom | Term Loan | 10.75%) | |||||||||||||
Kellermeyer | 1st Lien Term | 13.59% | ||||||||||||||
Bergensons | (3M SOFR | 11/09/2026 | 2,848 | |||||||||||||
Services, LLC | Loan | + 8.00%) | ||||||||||||||
Kellermeyer | 1st Lien Term | 10.73% | ||||||||||||||
Bergensons | (6M SOFR | 11/06/2028 | 6,549 | |||||||||||||
Services, LLC | Loan | + 5.25%) | ||||||||||||||
Kellermeyer | 1st Lien | |||||||||||||||
Bergensons | Delay Draw | 11/06/2028 | - | |||||||||||||
Services, LLC | Term Loan | |||||||||||||||
Kings Buyer, | 1st Lien | 14.00% | ||||||||||||||
Revolving | (PRIME + | 10/29/2027 | 12 | |||||||||||||
LLC | Loan | 5.50%) | ||||||||||||||
Kings Buyer, | 1st Lien Term | 11.80% | ||||||||||||||
(3M SOFR | 10/29/2027 | 3,428 | ||||||||||||||
LLC | Loan | + 6.50%) | ||||||||||||||
1st Lien Term | 10.43% | |||||||||||||||
LABL, Inc. | (1M SOFR | 10/29/2028 | 4,266 | |||||||||||||
Loan | + 5.00%) | |||||||||||||||
Laboratories | 1st Lien | 14.25% | ||||||||||||||
Revolving | (PRIME + | 07/23/2027 | 1,155 | |||||||||||||
Bidco LLC | Loan | 5.75%) | ||||||||||||||
Laboratories | 1st Lien Term | 12.21% | ||||||||||||||
(3M SOFR | 07/23/2027 | 1,886 | ||||||||||||||
Bidco LLC | Loan | + 6.75%) | ||||||||||||||
Laboratories | 1st Lien Term | 12.05% | ||||||||||||||
(3M CDOR | 07/23/2027 | CAD | 1,768 | |||||||||||||
Bidco LLC | Loan | + 6.75%) | ||||||||||||||
Laboratories | 1st Lien Term | 12.21% | ||||||||||||||
(3M SOFR | 07/23/2027 | 3,920 | ||||||||||||||
Bidco LLC | Loan | + 6.75%) |
Fair Value (a) | % of Net | |
Assets |
3,585 (e)(g)
240 (e)(g)(h)
1,110 (e)(h)
13,748 (e)
-
(e)(h)
6,015 (e)(f)
2,396 (e)
1,240 (e)(f)
267 (e)
352 (e)(h)
4,909 (e)
731 (e)(h)
25,055 (e)(g)
-
(e)(f)
2,848 (e)(f)
6,549 (e)(g)
- (e)(h)
- (e)(h)
3,428 (e)
4,173
1,004 (e)(h)
1,641 (e)(f)(g)
1,136 (e)(f)
3,410 (e)(f)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
Laboratories | 1st Lien Term | 12.21% | |||||||||||||
(3M SOFR | 07/23/2027 | 3,981 | |||||||||||||
Bidco LLC | Loan | + 6.75%) | |||||||||||||
Laboratories | 1st Lien | 12.21% | |||||||||||||
Delay Draw | (3M SOFR | 07/23/2027 | 290 | ||||||||||||
Bidco LLC | Term Loan | + 6.75%) | |||||||||||||
1st Lien | 10.64% | ||||||||||||||
Lavatio Midco | (6M | ||||||||||||||
Luxembourg | Delay Draw | EURIBOR | 11/30/2026 | € | 569 | ||||||||||
Sarl | Term Loan | + 6.75%) | |||||||||||||
1st Lien | 10.64% | ||||||||||||||
Lavatio Midco | (6M | ||||||||||||||
Luxembourg | Delay Draw | EURIBOR | 11/30/2026 | € | 746 | ||||||||||
Sarl | Term Loan | + 6.75%) | |||||||||||||
Lightbeam Bidco, | 1st Lien | ||||||||||||||
Revolving | 05/04/2029 | - | |||||||||||||
Inc. | Loan | ||||||||||||||
Lightbeam Bidco, | 1st Lien Term | 11.56% | |||||||||||||
(3M SOFR | 05/06/2030 | 1,129 | |||||||||||||
Inc. | Loan | + 6.25%) | |||||||||||||
Lightbeam Bidco, | 1st Lien Term | 10.81% | |||||||||||||
(3M SOFR | 05/06/2030 | 131 | |||||||||||||
Inc. | Loan | + 5.50%) | |||||||||||||
Lightbeam Bidco, | 1st Lien | 11.56% | |||||||||||||
Delay Draw | (3M SOFR | 05/06/2030 | 171 | ||||||||||||
Inc. | Term Loan | + 6.25%) | |||||||||||||
Lightbeam Bidco, | 1st Lien | 10.84% | |||||||||||||
Delay Draw | (3M SOFR | 05/06/2030 | 264 | ||||||||||||
Inc. | Term Loan | + 5.50%) | |||||||||||||
Lowe P27 Bidco | United | 1st Lien | 11.81% | ||||||||||||
Delay Draw | (6M SOFR | 07/31/2026 | 610 | ||||||||||||
Limited | Kingdom | Term Loan | + 6.50%) | ||||||||||||
1st Lien | 12.11% | ||||||||||||||
Lowe P27 Bidco | United | (6M | |||||||||||||
Delay Draw | SONIA + | 07/31/2026 | £ | 1,706 | |||||||||||
Limited | Kingdom | Term Loan | 6.50%) | ||||||||||||
1st Lien | 12.01% | ||||||||||||||
Lowe P27 Bidco | United | (6M | |||||||||||||
Delay Draw | SONIA + | 07/31/2026 | £ | 462 | |||||||||||
Limited | Kingdom | Term Loan | 6.50%) | ||||||||||||
1st Lien | 10.62% | ||||||||||||||
Lowe P27 Bidco | United | (3M | |||||||||||||
Delay Draw | EURIBOR | 07/31/2026 | £ | 1,183 | |||||||||||
Limited | Kingdom | Term Loan | + 6.75%) | ||||||||||||
Marmic | 1st Lien | 11.21% | |||||||||||||
Revolving | (3M SOFR | 03/05/2027 | 29 | ||||||||||||
Purchaser, LLC | Loan | + 5.75%) | |||||||||||||
Marmic | 1st Lien Term | 11.21% | |||||||||||||
(3M SOFR | 03/05/2027 | 2,001 | |||||||||||||
Purchaser, LLC | Loan | + 5.75%) | |||||||||||||
Marmic | 1st Lien | 11.21% | |||||||||||||
Delay Draw | (3M SOFR | 03/05/2027 | 2,011 | ||||||||||||
Purchaser, LLC | Term Loan | + 5.75%) | |||||||||||||
Marmic | 1st Lien | 11.71% | |||||||||||||
Delay Draw | (3M SOFR | 03/05/2027 | 1,268 | ||||||||||||
Purchaser, LLC | Term Loan | + 6.25%) | |||||||||||||
11.47% | |||||||||||||||
MPLC Debtco | 1st Lien Term | (1M | |||||||||||||
Jersey | SONIA + | 01/07/2027 | £ | 148 | |||||||||||
Limited | Loan | 6.25%) | |||||||||||||
MPLC Debtco | 1st Lien | 12.05% | |||||||||||||
Jersey | Delay Draw | (6M SOFR | 01/07/2027 | 2,100 | |||||||||||
Limited | Term Loan | + 6.25%) | |||||||||||||
1st Lien | 11.73% | ||||||||||||||
MPLC Debtco | (6M | ||||||||||||||
Jersey | Delay Draw | SONIA + | 01/07/2027 | £ | 1,052 | ||||||||||
Limited | Term Loan | 6.25%) | |||||||||||||
Neptune BidCo | 1st Lien | ||||||||||||||
Revolving | 10/11/2027 | - | |||||||||||||
US Inc. | Loan | ||||||||||||||
Neptune BidCo | 1st Lien Term | 10.17% | |||||||||||||
(3M SOFR | 10/11/2028 | 13,211 | |||||||||||||
US Inc. | Loan | + 4.75%) | |||||||||||||
Neptune BidCo | 1st Lien Term | 10.42% | |||||||||||||
(3M SOFR | 04/11/2029 | 15,283 | |||||||||||||
US Inc. | Loan | + 5.00%) |
Fair Value (a) | % of Net | |
Assets |
3,464 (e)
- (e)
- (e)(h)
805 (e)(f)
- (e)(h)
1,129 (e)(f)
- (e)(f)
- (e)
- (e)(h)
- (e)
2,153 (e)
583 (e)
1,493 (e)(h)
29 (e)(h)
2,001 (e)(f)
2,011 (e)
1,268 (e)(h)
187 (e)(f)
2,100 (e)(f)
1,327 (e)(f)
-
(e)(h)
12,079 (f)
14,070 (f)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
Neptune BidCo | 2nd Lien | 15.17% | |||||||||||||
(3M SOFR | 10/11/2029 | 9,882 | |||||||||||||
US Inc. | Term Loan | + 9.75%) | |||||||||||||
Nest Topco | 1st Lien Term | 16.00% | |||||||||||||
(PRIME + | 08/31/2029 | 13,162 | |||||||||||||
Borrower Inc. | Loan | 7.50%) | |||||||||||||
North American | 1st Lien | 11.21% | |||||||||||||
Fire Holdings, | Revolving | (3M SOFR | 05/19/2027 | 257 | |||||||||||
LLC | Loan | + 5.75%) | |||||||||||||
North American | 1st Lien Term | 11.21% | |||||||||||||
Fire Holdings, | (3M SOFR | 05/19/2027 | 2,274 | ||||||||||||
LLC | Loan | + 5.75%) | |||||||||||||
North American | 1st Lien | 11.21% | |||||||||||||
Fire Holdings, | Delay Draw | (3M SOFR | 05/19/2027 | 2,151 | |||||||||||
LLC | Term Loan | + 5.75%) | |||||||||||||
North American | 1st Lien | 11.22% | |||||||||||||
Fire Holdings, | Delay Draw | (3M SOFR | 05/19/2027 | 2,845 | |||||||||||
LLC | Term Loan | + 5.75%) | |||||||||||||
North Haven | 1st Lien | 11.81% | |||||||||||||
Fairway Buyer, | Revolving | (3M SOFR | 05/17/2028 | 3 | |||||||||||
LLC | Loan | + 6.50%) | |||||||||||||
North Haven | 1st Lien Term | 11.81% | |||||||||||||
Fairway Buyer, | (3M SOFR | 05/17/2028 | 45 | ||||||||||||
LLC | Loan | + 6.50%) | |||||||||||||
North Haven | 1st Lien | 11.82% | |||||||||||||
Fairway Buyer, | Delay Draw | (3M SOFR | 05/17/2028 | 175 | |||||||||||
LLC | Term Loan | + 6.50%) | |||||||||||||
North Haven | 1st Lien | 10.70% | |||||||||||||
Stack Buyer, | Revolving | (3M SOFR | 07/16/2027 | 52 | |||||||||||
LLC | Loan | + 5.25%) | |||||||||||||
North Haven | 1st Lien Term | 10.71% | |||||||||||||
Stack Buyer, | (3M SOFR | 07/16/2027 | 1,310 | ||||||||||||
LLC | Loan | + 5.25%) | |||||||||||||
North Haven | 1st Lien | 10.70% | |||||||||||||
Stack Buyer, | Delay Draw | (3M SOFR | 07/16/2027 | 242 | |||||||||||
LLC | Term Loan | + 5.25%) | |||||||||||||
North Haven | 1st Lien | 10.71% | |||||||||||||
Stack Buyer, | Delay Draw | (3M SOFR | 07/16/2027 | 740 | |||||||||||
LLC | Term Loan | + 5.25%) | |||||||||||||
North Haven | 1st Lien | ||||||||||||||
Stack Buyer, | Delay Draw | 07/16/2027 | - | ||||||||||||
LLC | Term Loan | ||||||||||||||
North Haven | 1st Lien | 10.73% | |||||||||||||
Stack Buyer, | Delay Draw | (3M SOFR | 07/16/2027 | 198 | |||||||||||
LLC | Term Loan | + 5.25%) | |||||||||||||
North Haven | 1st Lien | 10.72% | |||||||||||||
Stack Buyer, | Delay Draw | (1M SOFR | 07/16/2027 | 169 | |||||||||||
LLC | Term Loan | + 5.25%) | |||||||||||||
10.94% | |||||||||||||||
Orbit Private | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 12/11/2028 | £ | 4,915 | ||||||||||||
Holdings I Ltd | Kingdom | Loan | 5.75%) | ||||||||||||
Priority Waste | 1st Lien | 10.80% | |||||||||||||
Revolving | (3M SOFR | 08/20/2029 | 1 | ||||||||||||
Holdings LLC | Loan | + 5.50%) | |||||||||||||
Priority Waste | 1st Lien Term | 13.33% | |||||||||||||
(3M SOFR | 08/20/2029 | 1,811 | |||||||||||||
Holdings LLC | Loan | + 8.00%) | |||||||||||||
Priority Waste | 1st Lien | 13.30% | |||||||||||||
Delay Draw | (3M SOFR | 08/20/2029 | 1,201 | ||||||||||||
Holdings LLC | Term Loan | + 8.00%) | |||||||||||||
Priority Waste | 1st Lien | 13.33% | |||||||||||||
Delay Draw | (3M SOFR | 08/20/2029 | 700 | ||||||||||||
Holdings LLC | Term Loan | + 8.00%) | |||||||||||||
1st Lien | 11.46% | ||||||||||||||
PSC Group LLC | Revolving | (3M SOFR | 07/23/2025 | 253 | |||||||||||
Loan | + 6.00%) | ||||||||||||||
1st Lien Term | 11.46% | ||||||||||||||
PSC Group LLC | (3M SOFR | 07/23/2025 | 5,205 | ||||||||||||
Loan | + 6.00%) | ||||||||||||||
1st Lien Term | 11.47% | ||||||||||||||
PSC Group LLC | (3M SOFR | 07/23/2025 | 3,511 | ||||||||||||
Loan | + 6.00%) | ||||||||||||||
1st Lien | 11.50% | ||||||||||||||
PSC Group LLC | Delay Draw | (3M SOFR | 07/23/2025 | 104 | |||||||||||
Term Loan | + 6.00%) |
Fair Value (a) | % of Net |
Assets |
9,487 (e)(f)
13,162 (e)(g)
-
(e)(h)
2,274 (e)(f)
2,151 (e)(f)
2,845 (e)
3 (e)(h)
- (e)
- (e)(h)
-
(e)(h)
1,310 (e)(f)
- (e)
-
(e)
- (e)(h)
- (e)
- (e)
6,048 (e)
-
(e)(h)
1,811 (e)(g)
1,201 (e)(g)
700 (e)(g)(h)
252 (e)(h)
5,205 (e)(f)
3,511 (e)(f)
104 (e)(f)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
1st Lien | 11.45% | ||||||||||||||
PSC Group LLC | Delay Draw | (1M SOFR | 07/23/2025 | 1,572 | |||||||||||
Term Loan | + 6.00%) | ||||||||||||||
1st Lien | 11.46% | ||||||||||||||
PSC Group LLC | Delay Draw | (3M SOFR | 07/23/2025 | 957 | |||||||||||
Term Loan | + 6.00%) | ||||||||||||||
1st Lien | 11.48% | ||||||||||||||
PSC Group LLC | Delay Draw | (3M SOFR | 07/23/2025 | 836 | |||||||||||
Term Loan | + 6.00%) | ||||||||||||||
Pye-Barker Fire | 1st Lien | ||||||||||||||
Delay Draw | 11/26/2027 | - | |||||||||||||
& Safety, LLC | Term Loan | ||||||||||||||
Registrar | 1st Lien | 10.42% | |||||||||||||
Intermediate, | Revolving | (1M SOFR | 08/26/2027 | 89 | |||||||||||
LLC | Loan | + 5.00%) | |||||||||||||
Registrar | 1st Lien Term | 10.64% | |||||||||||||
Intermediate, | (6M SOFR | 08/26/2027 | 4,094 | ||||||||||||
LLC | Loan | + 5.00%) | |||||||||||||
Research Now | 1st Lien Term | 12/20/2024 | 3,464 | ||||||||||||
Group, LLC | Loan | ||||||||||||||
Research Now | 2nd Lien | 12/20/2025 | 893 | ||||||||||||
Group, LLC | Term Loan | ||||||||||||||
Rodeo | 1st Lien | 11.49% | |||||||||||||
AcquisitionCo | Revolving | (3M SOFR | 07/26/2027 | 225 | |||||||||||
LLC | Loan | + 6.00%) | |||||||||||||
Rodeo | 1st Lien Term | 11.49% | |||||||||||||
AcquisitionCo | (3M SOFR | 07/26/2027 | 2,070 | ||||||||||||
LLC | Loan | + 6.00%) | |||||||||||||
10.20% | |||||||||||||||
RSK Group | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 08/07/2028 | £ | 3,405 | ||||||||||||
Limited | Kingdom | Loan | 4.88%) | ||||||||||||
1st Lien | 10.18% | ||||||||||||||
RSK Group | United | (3M | |||||||||||||
Delay Draw | SONIA + | 08/07/2028 | £ | 8,248 | |||||||||||
Limited | Kingdom | Term Loan | 4.88%) | ||||||||||||
RSK Group | United | 1st Lien | 8.78% (3M | ||||||||||||
Delay Draw | EURIBOR | 08/07/2028 | € | 1,033 | |||||||||||
Limited | Kingdom | Term Loan | + 4.88%) | ||||||||||||
1st Lien | 10.22% | ||||||||||||||
RSK Group | United | (3M | |||||||||||||
Delay Draw | SONIA + | 08/07/2028 | £ | 13,314 | |||||||||||
Limited | Kingdom | Term Loan | 4.88%) | ||||||||||||
1st Lien | 10.24% | ||||||||||||||
RSK Group | United | (3M | |||||||||||||
Delay Draw | SONIA + | 08/07/2028 | £ | 4,156 | |||||||||||
Limited | Kingdom | Term Loan | 4.88%) | ||||||||||||
Saturn Purchaser | 1st Lien Term | 10.67% | |||||||||||||
(3M SOFR | 07/23/2029 | 236 | |||||||||||||
Corp. | Loan | + 5.25%) | |||||||||||||
Schill | 1st Lien | ||||||||||||||
Landscaping and | |||||||||||||||
Lawn Care | Revolving | 12/16/2027 | - | ||||||||||||
Services, LLC | Loan | ||||||||||||||
Schill | 11.18% | ||||||||||||||
Landscaping and | 1st Lien Term | ||||||||||||||
Lawn Care | (1M SOFR | 12/16/2027 | 2,532 | ||||||||||||
Services, LLC | Loan | + 5.75%) | |||||||||||||
Schill | 1st Lien | 11.18% | |||||||||||||
Landscaping and | |||||||||||||||
Lawn Care | Delay Draw | (1M SOFR | 12/16/2027 | 1,496 | |||||||||||
Services, LLC | Term Loan | + 5.75%) | |||||||||||||
Shermco | 1st Lien | 10.58% | |||||||||||||
Intermediate | Revolving | (1M SOFR | 06/05/2026 | 550 | |||||||||||
Holdings, Inc. | Loan | + 5.25%) | |||||||||||||
Shermco | 1st Lien Term | 10.58% | |||||||||||||
Intermediate | (1M SOFR | 06/05/2026 | 30,849 | ||||||||||||
Holdings, Inc. | Loan | + 5.25%) | |||||||||||||
Shermco | 1st Lien | 10.58% | |||||||||||||
Intermediate | Delay Draw | (1M SOFR | 06/05/2026 | 37 | |||||||||||
Holdings, Inc. | Term Loan | + 5.25%) | |||||||||||||
1st Lien | 7.43% (1M | ||||||||||||||
SSE Buyer, Inc. | Revolving | SOFR + | 06/30/2025 | 1 | |||||||||||
Loan | 2.00%) | ||||||||||||||
SSE Buyer, Inc. | 2nd Lien | 06/30/2026 | 735 | ||||||||||||
Term Loan |
Fair Value (a) | % of Net | |
Assets |
1,572 (e)
- (e)
-
(e)
- (e)(h)
- (e)(h)
4,012 (e)(f)
2,047 (f)(j)
- (e)(f)(j)
- (e)(h)
2,029 (e)
4,297 (e)(f)(g)
10,411 (e)(f)(g)
1,114 (e)(f)(g)
16,804 (e)(g)
5,246 (e)(g)(h)
236 (e)
- (e)(h)
2,532 (e)(f)
1,496 (e)(h)
-
(e)(h)
30,849 (e)(f)
- (e)(h)
-
(e)(h)
- (e)(f)(j)
CION Ares Diversified Credit Fund
Consolidated Schedule of Investments
March 31, 2024 (Unaudited)
(in thousands, except shares, percentages and as otherwise noted)
Company | Country (a) | Investment | Interest | Maturity | Acquisition | Shares | Principal | ||||||||
Date | Date | Amount (a) | |||||||||||||
Stealth Holding | 1st Lien Term | 12.20% | |||||||||||||
(3M SOFR | 03/02/2026 | 2,417 | |||||||||||||
LLC | Loan | + 6.75%) | |||||||||||||
Stealth Holding | 1st Lien | 12.24% | |||||||||||||
Delay Draw | (3M SOFR | 03/02/2026 | 4,149 | ||||||||||||
LLC | Term Loan | + 6.75%) | |||||||||||||
12.06% | |||||||||||||||
Steer Automotive | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 04/19/2029 | £ | 2,449 | ||||||||||||
Group Ltd | Kingdom | Loan | 6.75%) | ||||||||||||
12.06% | |||||||||||||||
Steer Automotive | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 04/19/2029 | £ | 1,542 | ||||||||||||
Group Ltd | Kingdom | Loan | 6.75%) | ||||||||||||
11.94% | |||||||||||||||
Steer Automotive | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 04/19/2029 | £ | 4,509 | ||||||||||||
Group Ltd | Kingdom | Loan | 6.75%) | ||||||||||||
12.06% | |||||||||||||||
Steer Automotive | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 06/30/2030 | £ | 4,723 | ||||||||||||
Group Ltd | Kingdom | Loan | 6.75%) | ||||||||||||
11.94% | |||||||||||||||
Steer Automotive | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 02/03/2031 | £ | 1,376 | ||||||||||||
Group Ltd | Kingdom | Loan | 6.75%) | ||||||||||||
1st Lien | 12.06% | ||||||||||||||
Steer Automotive | United | (3M | |||||||||||||
Delay Draw | SONIA + | 04/19/2029 | £ | 3,191 | |||||||||||
Group Ltd | Kingdom | Term Loan | 6.75%) | ||||||||||||
13.33% | |||||||||||||||
Survitec Group | United | 1st Lien Term | (3M | ||||||||||||
SONIA + | 04/06/2027 | £ | 8,255 | ||||||||||||
Holdco Limited | Kingdom | Loan | 8.00%) | ||||||||||||
13.86% | |||||||||||||||
Survitec Group | United | 1st Lien Term | (6M | ||||||||||||
SONIA + | 04/06/2027 | £ | 501 | ||||||||||||
Holdco Limited | Kingdom | Loan | 8.38%) | ||||||||||||
13.49% | |||||||||||||||
Survitec Group | United | 1st Lien Term | (6M | ||||||||||||
SONIA + | 04/06/2027 | £ | 1,782 | ||||||||||||
Holdco Limited | Kingdom | Loan | 8.00%) | ||||||||||||
Systems Planning | 1st Lien | ||||||||||||||
Revolving | 08/16/2027 | - | |||||||||||||
and Analysis, Inc. | Loan | ||||||||||||||
Systems Planning | 1st Lien Term | 11.08% | |||||||||||||
(3M SOFR | 08/16/2027 | 4,433 | |||||||||||||
and Analysis, Inc. | Loan | + 5.75%) | |||||||||||||
Thermostat | 1st Lien | ||||||||||||||
Revolving | 08/31/2026 | - | |||||||||||||
Purchaser III, Inc. | Loan | ||||||||||||||
Thermostat | 2nd Lien | 12.74% | |||||||||||||
(3M SOFR | 08/31/2029 | 3,575 | |||||||||||||
Purchaser III, Inc. | Term Loan | + 7.25%) | |||||||||||||
1st Lien Term | 10.95% | ||||||||||||||
TSS Buyer, LLC | (3M SOFR | 06/22/2029 | 260 | ||||||||||||
Loan | + 5.50%) | ||||||||||||||
1st Lien | 10.95% | ||||||||||||||
TSS Buyer, LLC | Delay Draw | (1M SOFR | 06/22/2029 | 130 | |||||||||||
Term Loan | + 5.50%) | ||||||||||||||
UCIT Online | 1st Lien Term | 12.20% | |||||||||||||
Canada | (3M SOFR | 03/02/2026 | 1,620 | ||||||||||||
Security Inc. | Loan | + 6.75%) | |||||||||||||
UP Intermediate | 1st Lien | ||||||||||||||
Revolving | 03/14/2030 | - | |||||||||||||
II LLC | Loan | ||||||||||||||
UP Intermediate | 1st Lien Term | 10.58% | |||||||||||||
(6M SOFR | 03/14/2031 | 374 | |||||||||||||
II LLC | Loan | + 5.25%) | |||||||||||||
Villa Dutch | 1st Lien Term | 9.37% (1M | |||||||||||||
Netherlands | EURIBOR | 11/03/2029 | € | 6,000 | |||||||||||
Bidco B.V. | Loan | + 5.50%) | |||||||||||||
Visual Edge | 1st Lien Term | 12.48% | |||||||||||||
(3M SOFR | 12/31/2025 | 2,203 | |||||||||||||
Technology, Inc. | Loan | + 7.00%) |
Fair Value (a) | % of Net | |
Assets |
2,417 (e)(f)
4,149 (e)
3,091 (e)(f)
1,946 (e)
5,691 (e)
5,961 (e)
1,736 (e)(g)
4,027 (e)
10,106 (e)(f)(g)
614 (e)
2,182 (e)(f)(g)
- (e)(h)
4,433 (e)(f)
- (e)(h)
3,504 (e)
260 (e)
130 (e)(h)
1,620 (e)(f)
-
(e)(h)
365 (e)
6,459
2,203 (e)(f)(g)
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Disclaimer
CION Investment Corporation published this content on 20 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2024 14:26:09 UTC.
