SCHEDULE: Thrivent Financial Discloses Stake in CION Ares Fund

Thrivent Financial for Lutherans has reported beneficial ownership of 7.1% of CION Ares Diversified Credit Fund's Mandatory Redeemable Preferred Shares.

Summary

• Thrivent Financial for Lutherans has filed a Schedule 13G, indicating its beneficial ownership of Mandatory Redeemable Preferred Shares in the CION Ares Diversified Credit Fund.
• The filing states that Thrivent Financial for Lutherans beneficially owns 2,800,000 shares, representing 7.1% of the class of securities.
• Thrivent Financial for Lutherans holds sole voting power and sole dispositive power over these shares.
• The filing is an amendment (Amendment No. 4) and the event triggering the filing was on June 1, 2026.
• Thrivent Financial for Lutherans is identified as a Wisconsin fraternal benefit society and is filing under Rule 13d-1(b).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership without specific performance data or forward-looking statements that would indicate a strong positive or negative sentiment.

Positives

• Thrivent Financial for Lutherans has clearly disclosed its significant stake in the CION Ares Diversified Credit Fund, providing transparency to the market.
• The ownership percentage of 7.1% suggests a substantial investment, potentially indicating confidence in the fund's strategy or performance.

Negatives

• The filing does not provide specific financial performance data for the CION Ares Diversified Credit Fund itself, only Thrivent's ownership stake.
• The nature of 'Mandatory Redeemable Preferred Shares' could imply limitations or specific redemption terms that are not detailed in this filing.

Risks

• The filing does not explicitly mention any risks associated with this investment or the CION Ares Diversified Credit Fund.
• As a holder of preferred shares, Thrivent Financial for Lutherans may be subject to redemption risks if the fund's conditions trigger mandatory redemptions.

Future Outlook

This filing is a disclosure of current ownership and does not contain forward-looking statements or guidance regarding the CION Ares Diversified Credit Fund's future performance or Thrivent Financial for Lutherans' future investment plans.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."
• "Signature: /s/ David S. Royal Name/Title: Chief Investment Officer Date: 06/03/2026"

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for institutional investors acquiring a significant stake in a public company. This filing indicates Thrivent Financial for Lutherans' investment activity within the credit fund sector.

Stakeholder Impact

• Shareholders of CION Ares Diversified Credit Fund: This filing provides transparency regarding a significant institutional holder, which can influence investor confidence.
• Thrivent Financial for Lutherans stakeholders: The investment represents a portion of the organization's assets under management, subject to the performance of the CION Ares Diversified Credit Fund.

Next Steps

• Thrivent Financial for Lutherans will continue to hold its investment in the CION Ares Diversified Credit Fund, subject to the terms of the Mandatory Redeemable Preferred Shares.
• Future amendments to this Schedule 13G would be required if Thrivent Financial for Lutherans' ownership stake changes significantly.

Key Dates

Keywords

Schedule 13G, Thrivent Financial for Lutherans, CION Ares Diversified Credit Fund, Mandatory Redeemable Preferred Shares, Beneficial Ownership, Securities Filing, Investment Disclosure