-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, W04zbHtvBtTpIEan495htC8OODD4Z7NCo901sMahMepDfWU4Nt5Xw3U+6pb74VAS 5bJIAj8FZKe7kr2Kl2GJGA== 0001169232-07-002088.txt : 20070501 0001169232-07-002088.hdr.sgml : 20070501 20070430215020 ACCESSION NUMBER: 0001169232-07-002088 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070430 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070501 DATE AS OF CHANGE: 20070430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRI-CONTINENTAL CORP CENTRAL INDEX KEY: 0000099614 IRS NUMBER: 135441850 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 811-00266 FILM NUMBER: 07803004 BUSINESS ADDRESS: STREET 1: 100 PARK AVENUE, STREET 2: 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128501864 MAIL ADDRESS: STREET 1: 100 PARK AVENUE STREET 2: 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: TRI CONTINENTAL CORP DATE OF NAME CHANGE: 19920703 8-K 1 d71783_8k.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 30, 2007 TRI-CONTINENTAL CORPORATION (Exact name of Registrant as specified in its charter) Maryland 811-00266 13-5441850 (State or other (Commission File Number) (I.R.S. Employer jurisdiction of Identification No.) incorporation) 100 Park Avenue, New York, New York 10017 (Address of principal executive offices, zip code) Registrant's telephone number, including area code (212) 850-1864 Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17CFR 240.13e-4(c)) SECTION 7 - REGULATION FD DISCLOSURE Item 7.01 Regulation FD Disclosure. Registrant is furnishing as Exhibit 99.1 and Exhibit 99.2 the attached Fund Fact Sheets as of March 31, 2007 for Tri-Continental Corporation. SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS Item 9.01 Financial Statements and Exhibits. Exhibit 99.1 - Fund Fact Sheet as of March 31, 2007 for Tri-Continental Corporation. Exhibit 99.2 - Fund Fact Sheet as of March 31, 2007 for Tri-Continental Corporation reflecting the Rolling Average Distribution Rate. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TRI-CONTINENTAL CORPORATION Date: April 30, 2007 By: /s/ Joseph D'Alessandro ------------------------------------ Joseph D'Alessandro Assistant Secretary EX-99.1 3 d71783_ex99-1.txt FUND FACT SHEET Exhibit 99.1 - -------------------------------------------------------------------------------- TY LISTED NYSE Tri-Continental Corporation an investment you can live with March 31, 2007 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FUND OBJECTIVE - -------------------------------------------------------------------------------- Tri-Continental Corporation invests to produce future growth of both capital and income, while providing reasonable current income. - -------------------------------------------------------------------------------- PORTFOLIO MANAGEMENT - -------------------------------------------------------------------------------- Portfolio Manager: John B. Cunningham Investment Team: Seligman Core Investment Team - -------------------------------------------------------------------------------- SELIGMAN'S STYLE ANALYSIS - -------------------------------------------------------------------------------- MANAGEMENT STYLE Value Blend Growth --------------------------------------- Large o --------------------------------------- MARKET CAP Medium --------------------------------------- Small This style analysis is the opinion of Seligman only and has not been provided by any third party. - -------------------------------------------------------------------------------- TOP EQUITY HOLDINGS - -------------------------------------------------------------------------------- Altria Group Inc. 3.2% General Electric 3.0 Exxon Mobil 2.6 Wachovia 2.3 Bank of America 2.1 JPMorgan Chase 2.1 Capital One Financial 2.0 Pfizer 1.9 Comverse Technology 1.8 ConocoPhillips 1.8 - -------------------------------------------------------------------------------- Total 22.8% The Corporation is actively managed, and its holdings are subject to change. Portfolio holdings information is available at www.seligman.com. For more information, please call 800-TRI-1092 (800-874-1092) or visit our website at www.tricontinental.com The website reference contained herein is an inactive textual reference and information contained in or otherwise accessible through this website does not form a part of this fact sheet. - -------------------------------------------------------------------------------- PER SHARE CHARACTERISTICS - -------------------------------------------------------------------------------- Net Asset Value $25.71 Market Price $22.70 Premium/(Discount) (11.71)% Accumulated Realized Capital Gain(1) $ 0.79 Net Unrealized Capital Gain(2) $ 0.40* (1) Amount shown does not reflect certain tax adjustments. Represents accumulated net gains or losses on portfolio transactions through March 31, 2007. (2) Amount shown is based on the Fund's accounting records and may not reflect certain tax adjustments. Represents net unrealized gains or losses as of March 31, 2007. Actual gains or losses that may be realized in the future may be different than this amount due to market fluctuation and the timing of any sales of portfolio securities. * $1.43 in Unrealized Gains and $(1.03) in Unrealized Losses. - -------------------------------------------------------------------------------- DISTRIBUTIONS - -------------------------------------------------------------------------------- Number of Consecutive Years Dividend Paid 63 Yield of Portfolio 1.54% SEC Yield 0.79% - -------------------------------------------------------------------------------- HOLDINGS BY SECTOR - -------------------------------------------------------------------------------- Tri-Continental Corporation+ S&P 500 Consumer Discretionary 8.16 10.49 Consumer Staples 10.37 9.57 Energy 9.21 10.09 Financials 16.41 21.63 Health Care 12.31 11.90 Industrials 10.95 10.91 Information Technology 24.19 14.87 Materials 4.68 3.08 Telecommunication Services 2.27 3.73 Utilities 0.00 3.73 Short-Term 1.45 0.00 + Sectors are shown as a percent of the total portfolio holdings. - -------------------------------------------------------------------------------- INVESTMENT RESULTS - -------------------------------------------------------------------------------- Total returns for the periods ended March 31, 2007
Average Annual ---------------------------------------------------- One Month++ Year-to-Date++ One Year Three Years Five Years Ten Years Net Asset Value 0.84% 1.23% 13.45% 10.30% 5.03% 6.22% Market Price 1.49 2.62 14.63 11.51 4.83 6.93 S&P 500 Index 1.12 0.64 11.83 10.06 6.27 8.20 Lipper Closed-End Core Funds Average 1.31 2.49 11.75 9.81 5.81 6.92 Lipper Large-Cap Core Funds Average 1.02 0.46 9.87 8.65 4.99 6.87
++ Not annualized - -------------------------------------------------------------------------------- IMPORTANT PERFORMANCE INFORMATION - -------------------------------------------------------------------------------- Performance data quoted herein represents past performance. Past performance does not guarantee or indicate future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Total returns for the Fund as of the most recent month-end will be made available at www.tricontinental.com by the seventh business day following that month-end. The Net Asset Value and Market Price investment results assume the reinvestment of all distributions. The Lipper Closed-End Core Funds Average, the Lipper Large-Cap Core Funds Average, and the S&P 500 Index are unmanaged averages and unmanaged benchmark, respectively, that assume the reinvestment of all distributions and exclude the effect of taxes and sales charges. The S&P 500 Index also excludes the effect of fees. Investors cannot invest directly in an average or index. - -------------------------------------------------------------------------------- NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- TY LISTED NYSE Tri-Continental Corporation an investment you can live with March 31, 2007 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PORTFOLIO STATISTICS(1) - -------------------------------------------------------------------------------- Inception 1929 NYSE Symbol TY NAV Symbol XTYCX Median Market Cap $43.2 billion Weighted Average Price/Earnings Ratio (2007)(2) 14.60 Weighted Average Price/Book Ratio (2007)(3) 2.59 Net Investment Assets $ 2.7 billion (1) Calculations are based upon information provided by FactSet as of 3/31/07 for the securities held in the Corporation. (2) Price/Earnings Ratio is the "multiple" of earnings at which a stock sells, determined by dividing current stock price by estimated earnings per share, adjusted for stock splits. A higher "multiple" indicates investors have greater expectations for future growth. The weighted average is the mean of the price/earnings ratios of all securities held in Tri-Continental's portfolio, weighted by the percent of equity. (3) Price/Book Ratio is the comparison of a stock's market value to the value of total assets less total liabilities (book value), determined by dividing current stock price by common stockholder equity per share, adjusted for stock splits. The weighted average is the mean of the price/book ratios of all securities held in Tri-Continental's portfolio, weighted by the percent of equity. - -------------------------------------------------------------------------------- FOR MORE INFORMATION - -------------------------------------------------------------------------------- This information is authorized for use only in the case of concurrent or prior delivery of the offering prospectus of the Fund. You should consider the investment objectives, risks, charges, and expenses of a Fund carefully before investing. A prospectus containing information about a Fund (including its investment objectives, risks, charges, expenses, and other information about the Fund) may be obtained here. The prospectus should be read carefully before investing in a Fund. For more information, please call 800-TRI-1092 (800-874-1092) or visit our website at www.tricontinental.com - -------------------------------------------------------------------------------- YEAR-BY-YEAR ANNUAL TOTAL RETURNS - -------------------------------------------------------------------------------- [THE FOLLOWING TABLE WAS REPRESENTED AS A BAR CHART IN THE PRINTED MATERIAL.]
Year-to-Date 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 (3/31/07) Market Price 27.9% 26.2% 12.6% -11.6% -5.2% -28.2% 25.2% 13.0% 3.0% 22.1% 2.6% Net Asset Value 26.6% 25.8% 10.7% -8.3% -10.2% -26.4% 25.8% 13.4% 2.7% 17.4% 1.2%
See Important Performance Information on page 1 of this fact sheet. - -------------------------------------------------------------------------------- GROWTH OF $10,000 - -------------------------------------------------------------------------------- [MOUNTAIN LINE GRAPH OMITTED] 3/31/97 - 3/31/07 (Based on Market Price) $19,545 Excludes the effect of any costs associated with the purchase of shares. See Important Performance Information on page 1 of this fact sheet. - -------------------------------------------------------------------------------- A WORD ABOUT RISK - -------------------------------------------------------------------------------- The net asset value of shares may not always correspond to the market price of such shares. Shares of many closed-end funds frequently trade at a discount from their net asset value. Tri-Continental Corporation is subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment in the Fund. There is no guarantee that the Fund's investment goals/objective will be met, and you could lose money. - -------------------------------------------------------------------------------- NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CETRI8-0307W DISTRIBUTED BY SELIGMAN ADVISORS, INC. - -------------------------------------------------------------------------------- EX-99.2 4 d71783_ex99-2.txt FUND FACT SHEET (ROLLING AVG. DIST. RATE) Exhibit 99.2 - -------------------------------------------------------------------------------- TY LISTED NYSE Tri-Continental Corporation an investment you can live with March 31, 2007 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FUND OBJECTIVE - -------------------------------------------------------------------------------- Tri-Continental Corporation invests to produce future growth of both capital and income, while providing reasonable current income. - -------------------------------------------------------------------------------- PORTFOLIO MANAGEMENT - -------------------------------------------------------------------------------- Portfolio Manager: John B. Cunningham Investment Team: Seligman Core Investment Team - -------------------------------------------------------------------------------- SELIGMAN'S STYLE ANALYSIS - -------------------------------------------------------------------------------- MANAGEMENT STYLE Value Blend Growth --------------------------------------- Large o --------------------------------------- MARKET CAP Medium --------------------------------------- Small This style analysis is the opinion of Seligman only and has not been provided by any third party. - -------------------------------------------------------------------------------- TOP EQUITY HOLDINGS - -------------------------------------------------------------------------------- Altria Group Inc. 3.2% General Electric 3.0 Exxon Mobil 2.6 Wachovia 2.3 Bank of America 2.1 JPMorgan Chase 2.1 Capital One Financial 2.0 Pfizer 1.9 Comverse Technology 1.8 ConocoPhillips 1.8 - -------------------------------------------------------------------------------- Total 22.8% The Corporation is actively managed, and its holdings are subject to change. Portfolio holdings information is available at www.seligman.com. For more information, please call 800-TRI-1092 (800-874-1092) or visit our website at www.tricontinental.com The website reference contained herein is an inactive textual reference and information contained in or otherwise accessible through this website does not form a part of this fact sheet. - -------------------------------------------------------------------------------- PER SHARE CHARACTERISTICS - -------------------------------------------------------------------------------- Net Asset Value $25.71 Market Price $22.70 Premium/(Discount) (11.71)% Accumulated Realized Capital Gain(1) $ 0.79 Net Unrealized Capital Gain(2) $ 0.40* (1) Amount shown does not reflect certain tax adjustments. Represents accumulated net gains or losses on portfolio transactions through March 31, 2007. (2) Amount shown is based on the Fund's accounting records and may not reflect certain tax adjustments. Represents net unrealized gains or losses as of March 31, 2007. Actual gains or losses that may be realized in the future may be different than this amount due to market fluctuation and the timing of any sales of portfolio securities. * $1.43 in Unrealized Gains and $(1.03) in Unrealized Losses. - -------------------------------------------------------------------------------- DISTRIBUTIONS - -------------------------------------------------------------------------------- Number of Consecutive Years Dividend Paid 63 Yield of Portfolio 1.54% SEC Yield 0.79% Rolling Average Distribution Rate (Includes Dividends and Capital Gains) Five Years* 1.40% Ten Years* 7.50%
* As of March 31, 2007. - -------------------------------------------------------------------------------- HOLDINGS BY SECTOR - -------------------------------------------------------------------------------- Tri-Continental Corporation+ S&P 500 Consumer Discretionary 8.16 10.49 Consumer Staples 10.37 9.57 Energy 9.21 10.09 Financials 16.41 21.63 Health Care 12.31 11.90 Industrials 10.95 10.91 Information Technology 24.19 14.87 Materials 4.68 3.08 Telecommunication Services 2.27 3.73 Utilities 0.00 3.73 Short-Term 1.45 0.00 + Sectors are shown as a percent of the total portfolio holdings. - -------------------------------------------------------------------------------- INVESTMENT RESULTS - -------------------------------------------------------------------------------- Total returns for the periods ended March 31, 2007
Average Annual -------------------------------------------------- One Month++ Year-to-Date++ One Year Three Years Five Years Ten Years Net Asset Value 0.84% 1.23% 13.45% 10.30% 5.03% 6.22% Market Price 1.49 2.62 14.63 11.51 4.83 6.93 S&P 500 Index 1.12 0.64 11.83 10.06 6.27 8.20 Lipper Closed-End Core Funds Average 1.31 2.49 11.75 9.81 5.81 6.92 Lipper Large-Cap Core Funds Average 1.02 0.46 9.87 8.65 4.99 6.87
++ Not annualized. - -------------------------------------------------------------------------------- IMPORTANT PERFORMANCE INFORMATION - -------------------------------------------------------------------------------- Performance data quoted herein represents past performance. Past performance does not guarantee or indicate future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Total returns for the Fund as of the most recent month-end will be made available at www.tricontinental.com by the seventh business day following that month-end. The Net Asset Value and Market Price investment results assume the reinvestment of all distributions. The Lipper Closed-End Core Funds Average, the Lipper Large-Cap Core Funds Average, and the S&P 500 Index are unmanaged averages and unmanaged benchmark, respectively, that assume the reinvestment of all distributions and exclude the effect of taxes and sales charges. The S&P 500 Index also excludes the effect of fees. Investors cannot invest directly in an average or index. - -------------------------------------------------------------------------------- NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- TY LISTED NYSE Tri-Continental Corporation an investment you can live with March 31, 2007 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- PORTFOLIO STATISTICS(1) - -------------------------------------------------------------------------------- Inception 1929 NYSE Symbol TY NAV Symbol XTYCX Median Market Cap $43.2 billion Weighted Average Price/Earnings Ratio (2007)(2) 14.60 Weighted Average Price/Book Ratio (2007)(3) 2.59 Net Investment Assets $ 2.7 billion 1 Calculations are based upon information provided by FactSet as of 3/31/07 for the securities held in the Corporation. 2 Price/Earnings Ratio is the "multiple" of earnings at which a stock sells, determined by dividing current stock price by estimated earnings per share, adjusted for stock splits. A higher "multiple" indicates investors have greater expectations for future growth. The weighted average is the mean of the price/earnings ratios of all securities held in Tri-Continental's portfolio, weighted by the percent of equity. 3 Price/Book Ratio is the comparison of a stock's market value to the value of total assets less total liabilities (book value), determined by dividing current stock price by common stockholder equity per share, adjusted for stock splits. The weighted average is the mean of the price/book ratios of all securities held in Tri-Continental's portfolio, weighted by the percent of equity. - -------------------------------------------------------------------------------- FOR MORE INFORMATION - -------------------------------------------------------------------------------- You should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. A prospectus containing information about the Fund (including its investment objectives, risks, charges, expenses, and other information about the Fund) may be obtained by calling 800-TRI-1092. The prospectus should be read carefully before investing in the Fund. For more information, please call 800-TRI-1092 (800-874-1092) or visit our website at www.tricontinental.com - -------------------------------------------------------------------------------- YEAR-BY-YEAR ANNUAL TOTAL RETURNS - -------------------------------------------------------------------------------- [THE FOLLOWING TABLE WAS REPRESENTED AS A BAR CHART IN THE PRINTED MATERIAL.]
Year-to-Date 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 (3/31/07) Market Price 27.9% 26.2% 12.6% -11.6% -5.2% -28.2% 25.2% 13.0% 3.0% 22.1% 2.6% Net Asset Value 26.6% 25.8% 10.7% -8.3% -10.2% -26.4% 25.8% 13.4% 2.7% 17.4% 1.2%
See Important Performance Information on page 1 of this fact sheet. - -------------------------------------------------------------------------------- GROWTH OF $10,000 - -------------------------------------------------------------------------------- [MOUNTAIN LINE GRAPH OMITTED] 3/31/97 - 3/31/07 (Based on Market Price) $19,545 Excludes the effect of any costs associated with the purchase of shares. See Important Performance Information on page 1 of this fact sheet. - -------------------------------------------------------------------------------- A WORD ABOUT RISK - -------------------------------------------------------------------------------- The net asset value of shares may not always correspond to the market price of such shares. Shares of many closed-end funds frequently trade at a discount from their net asset value. Tri-Continental Corporation is subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment in the Fund. There is no guarantee that the Fund's investment goals/objective will be met, and you could lose money. - -------------------------------------------------------------------------------- NOT FDIC INSURED o NOT BANK GUARANTEED o MAY LOSE VALUE - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CETRI8-0307 DISTRIBUTED BY SELIGMAN ADVISORS, INC. - -------------------------------------------------------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----