c/o Columbia Management Investment Advisers, LLC |
Ryan C. Larrenaga, Esq. c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, Massachusetts 02210 |
Stockholder Transaction Expenses | |
Cash Purchase Plan Fees |
$ (a) |
Annual Expenses ( | |
Management fees(b) |
% |
Other expenses |
% |
Acquired fund fees and expenses |
% |
Total Annual Expenses Before Impact of Dividends on Preferred Stock(c) |
% |
Impact of Dividends on Preferred Stock |
% |
Total Annual Expenses, including Impact of Dividends on Preferred Stock |
% |
|
1 year |
3 years |
5 years |
10 years |
Tri-Continental Corporation Common Stock |
$ |
$ |
$ |
$ |
Year ended December 31, |
2023 |
2022 |
2021 |
Per share data |
|
|
|
Net asset value, beginning of period |
$29.07 |
$36.69 |
$33.26 |
Income from investment operations: |
|
|
|
Net investment income |
1.12 |
1.11 |
1.07 |
Net realized and unrealized gain (loss) |
3.66 |
(6.53 ) |
7.28 |
Total from investment operations |
4.78 |
(5.42 ) |
8.35 |
Less distributions to Stockholders from: |
|
|
|
Net investment income — Preferred Stock |
(0.04 ) |
(0.03 ) |
(0.04 ) |
Net investment income — Common Stock |
(1.12 ) |
(1.08 ) |
(1.05 ) |
Net realized gains — Common Stock |
(0.14 ) |
(1.15 ) |
(3.64 ) |
Total distributions to Stockholders |
(1.30 ) |
(2.26 ) |
(4.73 ) |
(Dilution) Anti-dilution in net asset value from share purchases (via dividend reinvestment program and cash purchase plan)(a) |
(0.07 ) |
(0.10 ) |
(0.32 ) |
Anti-dilution in net asset value from share buy-backs (via stock repurchase program and cash purchase plan)(a) |
0.18 |
0.16 |
0.13 |
Net asset value, end of period |
$32.66 |
$29.07 |
$36.69 |
Adjusted net asset value, end of period(b) |
$32.54 |
$28.97 |
$36.57 |
Market price, end of period |
$28.83 |
$25.63 |
$33.19 |
Total return |
|
|
|
Based upon net asset value |
17.74 % |
(14.10 %) |
26.76 % |
Based upon market price |
17.88 % |
(16.28 %) |
29.41 % |
Ratios to average net assets |
|
|
|
Expenses to average net assets for Common Stock(c) |
0.47 %(d) |
0.46 %(d) |
0.46 %(d) |
Net investment income to average net assets for Common Stock |
3.54 % |
3.35 % |
2.77 % |
Supplemental data |
|
|
|
Net assets, end of period (000's): |
|
|
|
Common Stock |
$1,711,091 |
$1,577,033 |
$2,005,857 |
Preferred Stock |
$37,637 |
$37,637 |
$37,637 |
Total net assets |
$1,748,728 |
$1,614,670 |
$2,043,494 |
Portfolio turnover |
48 % |
48 % |
56 % |
2020 |
2019 |
2018 |
2017 |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
$31.03 |
$26.58 |
$29.88 |
$25.91 |
$23.49 |
$24.76 |
$23.11 |
|
|
|
|
|
|
|
1.05 |
1.03 |
0.99 |
0.93 |
0.90 |
0.81 |
0.73 |
2.86 |
5.39 |
(2.35 ) |
4.24 |
2.33 |
(1.37 ) |
1.70 |
3.91 |
6.42 |
(1.36 ) |
5.17 |
3.23 |
(0.56 ) |
2.43 |
|
|
|
|
|
|
|
(0.04 ) |
(0.04 ) |
(0.03 ) |
(0.03 ) |
(0.03 ) |
(0.03 ) |
(0.03 ) |
(1.07 ) |
(1.01 ) |
(0.96 ) |
(1.07 ) |
(0.91 ) |
(0.81 ) |
(0.75 ) |
(0.57 ) |
(0.92 ) |
(0.95 ) |
(0.10 ) |
— |
— |
— |
(1.68 ) |
(1.97 ) |
(1.94 ) |
(1.20 ) |
(0.94 ) |
(0.84 ) |
(0.78 ) |
— |
— |
— |
— |
(0.06 ) |
(0.05 ) |
— |
— |
— |
— |
— |
0.19 |
0.18 |
— |
$33.26 |
$31.03 |
$26.58 |
$29.88 |
$25.91 |
$23.49 |
$24.76 |
$33.14 |
$30.92 |
$26.48 |
$29.77 |
$25.83 |
$23.42 |
$24.68 |
$29.47 |
$28.20 |
$23.52 |
$26.94 |
$22.05 |
$20.02 |
$21.41 |
|
|
|
|
|
|
|
14.17 % |
25.20 % |
(4.10 )% |
20.82 % |
15.25 % |
(1.36 %) |
11.09 % |
11.31 % |
28.59 % |
(5.88 )% |
28.00 % |
15.08 % |
(2.78 %) |
11.11 % |
|
|
|
|
|
|
|
0.48 % |
0.49 % |
0.49 % |
0.49 % |
0.50 % |
0.50 % |
0.49 % |
3.45 % |
3.32 % |
3.14 % |
3.21 % |
3.59 % |
3.16 % |
2.91 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$1,745,135 |
$1,664,401 |
$1,431,211 |
$1,637,553 |
$1,470,843 |
$1,382,712 |
$1,511,285 |
$37,637 |
$37,637 |
$37,637 |
$37,637 |
$37,637 |
$37,637 |
$37,637 |
$1,782,772 |
$1,702,038 |
$1,468,848 |
$1,675,190 |
$1,508,480 |
$1,420,349 |
$1,548,922 |
67 % |
60 % |
63 % |
95 % |
82 % |
76 % |
76 % |
Year |
Total Shares Outstanding |
Year-End Asset Coverage Per Share ($) |
Involuntary Liquidation Preference Per Share ($) |
Average Daily Market Value Per Share ($) |
2023 |
|
|
|
|
2022 |
|
|
|
|
2021 |
|
|
|
|
2020 |
|
|
|
|
2019 |
|
|
|
|
2018 |
|
|
|
|
2017 |
|
|
|
|
2016 |
|
|
|
|
2015 |
|
|
|
|
2014 |
|
|
|
|
Title of Class |
Amount Authorized |
Amount Held by Fund or for its Account |
Amount Outstanding Exclusive of Amount Held by Fund |
$2.50 Cumulative $50 par value |
|
|
|
|
|
|
|
|
|
|
|
|
Market Price ($) |
Corresponding NAV ($) |
Corresponding % (Discount)/Premium to NAV | |||
|
High |
Low |
High |
Low |
High |
Low |
2022 |
|
|
|
|
|
|
1st Quarter |
|
|
|
|
( |
( |
2nd Quarter |
|
|
|
|
( |
( |
3rd Quarter |
|
|
|
|
( |
( |
4th Quarter |
|
|
|
|
( |
( |
2023 |
|
|
|
|
|
|
1st Quarter |
|
|
|
|
( |
( |
2nd Quarter |
|
|
|
|
( |
( |
3rd Quarter |
|
|
|
|
( |
( |
4th Quarter |
|
|
|
|
( |
( |
2024 |
|
|
|
|
|
|
1st Quarter |
|
|
|
|
( |
( |
Assumed Return on Portfolio (net of expenses) |
-10% |
-5% |
0% |
5% |
10% |
Corresponding Return to Common Stockholders |
( |
( |
( |
|
|
Portfolio Management |
Title |
Role with Fund |
Managed Fund Since |
David King, CFA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2011 |
Yan Jin |
Senior Portfolio Manager |
Co-Portfolio Manager |
2012 |
Raghavendran Sivaraman, Ph.D., CFA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2020 |
Grace Lee, CAIA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2020 |
Oleg Nusinzon, CFA |
Senior Portfolio Manager |
Co-Portfolio Manager |
2021 |
2 | |
5 | |
6 | |
8 | |
8 | |
44 | |
76 | |
77 | |
79 | |
79 | |
81 | |
82 | |
83 | |
83 | |
84 | |
88 | |
88 | |
90 | |
90 | |
100 | |
102 | |
102 | |
105 | |
106 | |
106 | |
107 | |
119 | |
120 | |
121 | |
121 | |
123 | |
124 | |
A-1 | |
B-1 |
1933 Act |
Securities Act of 1933, as amended |
1934 Act |
Securities Exchange Act of 1934, as amended |
1940 Act |
Investment Company Act of 1940, as amended |
Ameriprise Financial |
Ameriprise Financial, Inc. |
Board |
The Fund’s Board of Directors |
Business Day |
Any day on which the NYSE is open for business. A business day typically ends at the close of regular trading on the NYSE, usually at 4:00 p.m. Eastern time. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE’s scheduled close. The Fund will not treat an intraday unscheduled disruption in NYSE trading or an intraday unscheduled closing as a close of regular trading on the NYSE for these purposes and will price its shares as of the regularly scheduled closing time for that day (typically, 4:00 p.m. Eastern time). Notwithstanding the foregoing, the NAV of Fund shares may be determined at such other time or times (in addition to or in lieu of the time set forth above) as the Fund’s Board may approve or ratify. On holidays and other days when the NYSE is closed, the Fund's NAV is not calculated and the Fund does not accept buy or sell orders. However, the value of the Fund's assets may still be affected on such days to the extent that the Fund holds foreign securities that trade on days that foreign securities markets are open. |
CEA |
Commodity Exchange Act |
CFTC |
The United States Commodity Futures Trading Commission |
Code |
Internal Revenue Code of 1986, as amended |
Codes of Ethics |
The codes of ethics adopted by the Fund, Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia Management Investment Distributors, Inc. (the distributor of the open-end funds (other than the Columbia ETFs) in the Columbia Fund Family) and/or any sub-adviser, as applicable, pursuant to Rule 17j-1 under the 1940 Act |
Columbia Funds or Columbia Funds Complex |
The fund complex, including the Fund, that is comprised of the registered investment companies, including traditional mutual funds, closed-end funds, and ETFs, advised by the Investment Manager or its affiliates |
Columbia Management |
Columbia Management Investment Advisers, LLC |
Columbia Threadneedle Investments |
The global brand name of the Columbia and Threadneedle group of companies |
Custodian |
JPMorgan Chase Bank, N.A. |
DBRS |
Morningstar DBRS |
Director(s) |
One or more of the Board’s Directors |
FDIC |
Federal Deposit Insurance Corporation |
FHLMC |
The Federal Home Loan Mortgage Corporation |
Fitch |
Fitch Ratings, Inc. |
FNMA |
Federal National Mortgage Association |
GICS |
The Global Industry Classification Standard (GICS®). GICS was developed by and/or is the exclusive property of MSCI, Inc. (MSCI®) and S&P Global Market Intelligence Inc. (S&P Global Market Intelligence). GICS is a service mark of MSCI and S&P Global Market Intelligence and has been licensed for use by the Investment Manager. Neither GICS, MSCI, nor S&P Global Market Intelligence are affiliated with the Fund, the Investment Manager or any Columbia entity. |
GNMA |
Government National Mortgage Association |
Independent Directors |
The Directors of the Board who are not “interested persons” (as defined in the 1940 Act) of the Fund |
Interested Director |
A Director of the Board who is currently deemed to be an “interested person” (as defined in the 1940 Act) of the Fund |
Investment Manager |
Columbia Management Investment Advisers, LLC |
IRS |
United States Internal Revenue Service |
JPMorgan |
JPMorgan Chase Bank, N.A., the Fund's custodian |
KBRA |
Kroll Bond Rating Agency |
LIBOR |
London Inter-bank Offered Rate* |
Management Agreement |
The Management Agreement, as amended, between the Fund and the Investment Manager |
Moody’s |
Moody’s Investors Service, Inc. |
NRSRO |
Nationally recognized statistical ratings organization (for example, Moody’s, Fitch or S&P) |
NYSE |
New York Stock Exchange |
PwC |
PricewaterhouseCoopers LLP |
REIT |
Real estate investment trust |
REMIC |
Real estate mortgage investment conduit |
S&P |
S&P Global Ratings, a division of S&P Global Inc. (“Standard & Poor’s” and “S&P” are trademarks of S&P Global Inc. and have been licensed for use by the Investment Manager. The Columbia Funds are not sponsored, endorsed, sold or promoted by S&P Global Ratings, and S&P Global Ratings makes no representation regarding the advisability of investing in the Columbia Funds.) |
SAI |
This Statement of Additional Information, as amended and supplemented from time-to-time |
SEC |
United States Securities and Exchange Commission |
Service Agent |
Columbia Management Investment Services Corp. |
Shares |
Shares of the Fund |
SOFR |
Secured Overnight Financing Rate |
Stockholder Service Agent Agreement |
The Stockholder Service Agent Agreement, as amended, between the Fund and the Service Agent |
Fund |
Fiscal Year End |
Prospectus Date |
Diversified* |
Tri-Continental Corporation |
December 31 |
May 1, 2024 |
Yes |
Type of Investment |
Tri-Continental Corporation |
Asset-Backed Securities |
Yes |
Bank Obligations (Domestic and Foreign) |
Yes |
Collateralized Bond Obligations |
Yes |
Commercial Paper |
Yes |
Common Stock |
Yes |
Convertible Securities |
Yes |
Corporate Debt Securities |
Yes |
Custody Receipts and Trust Certificates |
Yes |
Debt Obligations |
Yes |
Depositary Receipts |
Yes |
Type of Investment |
Tri-Continental Corporation |
Derivatives |
Yes |
Dollar Rolls |
Yes |
Exchange-Traded Notes |
Yes |
Foreign Currency Transactions |
Yes |
Foreign Securities |
Yes |
Guaranteed Investment Contracts (Funding Agreements) |
Yes |
High-Yield Securities |
Yes |
Illiquid Investments |
Yes |
Inflation Protected Securities |
Yes |
Initial Public Offerings |
Yes |
Inverse Floaters |
Yes |
Investment in Other Investment Companies (Including ETFs) |
Yes |
Listed Private Equity Funds |
Yes |
Money Market Instruments |
Yes |
Mortgage-Backed Securities |
Yes |
Municipal Securities |
Yes |
Participation Interests |
Yes |
Partnership Securities |
Yes |
Preferred Stock |
Yes |
Private Placement and Other Restricted Securities |
Yes |
Real Estate Investment Trusts |
Yes |
Repurchase Agreements |
Yes |
Reverse Repurchase Agreements |
Yes |
Short Sales |
Yes |
Sovereign Debt |
Yes |
Standby Commitments |
Yes |
U.S. Government and Related Obligations |
Yes |
Variable- and Floating-Rate Obligations |
Yes |
Warrants and Rights |
Yes |
|
Asset Levels (in Millions) |
Applicable Fee Rate |
Tri-Continental Corporation |
$0-$500 |
0.415% |
˃$500-$1,000 |
0.410% | |
˃$1,000-$3,000 |
0.405% | |
˃$3,000-$12,000 |
0.395% | |
˃$12,000 |
0.385% |
|
Management Services Fees | ||
|
2023 |
2022 |
2021 |
For Funds with fiscal period ending December 31 | |||
Tri-Continental Corporation |
$6,820,811 |
$7,266,740 |
$8,093,776 |
|
|
Other Accounts Managed (excluding the Fund) |
| ||
Fund |
Portfolio Manager |
Number and type of account* |
Approximate Total Net Assets (excluding the fund) |
Performance Based Accounts |
Ownership of Fund Shares |
Information is as of December 31, 2023, unless otherwise noted | |||||
Tri-Continental Corporation |
David King |
4 RICs 11 other accounts |
$5.73 billion $510.41 million |
None |
Over $1,000,000 (vested) |
Yan Jin |
4 RICs 15 other accounts |
$5.73 billion $485.37 million |
None |
$100,001- $500,000 (vested) | |
Raghavendran Sivaraman |
10 RICs 76 other accounts |
$9.63 billion $14.01 billion |
1 other account ($327.51 million) |
$50,001-$100,000 (vested) | |
Grace Lee |
4 RICs 13 other accounts |
$5.73 billion $482.46 million |
None |
$50,001-$100,000 (vested) | |
Oleg Nusinzon |
10 RICs 81 other accounts |
$9.63 billion $14.01 billion |
None |
None |
Name, Address, Year of Birth |
Position Held with the Fund and Length of Service |
Principal Occupation(s) During the Past Five Years and Other Relevant Professional Experience |
Number of Funds in the Columbia Funds Complex Overseen |
Other Directorships Held by Director During the Past Five Years and Other Relevant Board Experience |
Committee Assignments |
George S. Batejan c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1954 |
Director since January 2018 |
Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010- 2016 |
161 |
Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014- 2016; former Director, Intech Investment Management, 2011- 2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018; former Board Member, Chase Bank International, 1993- 1994 |
Compliance, Contracts, Investment Review |
Name, Address, Year of Birth |
Position Held with the Fund and Length of Service |
Principal Occupation(s) During the Past Five Years and Other Relevant Professional Experience |
Number of Funds in the Columbia Funds Complex Overseen |
Other Directorships Held by Director During the Past Five Years and Other Relevant Board Experience |
Committee Assignments |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1954 |
Director since November 2008 |
Attorney, specializing in arbitration and mediation; Trustee of Gerald Rauenhorst 1982 Trusts, since 2020; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996- 1998; Fourth Judicial District Court Judge, Hennepin County, 1994- 1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 |
161 |
Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009- 2021 (Chair of the Business Development Committee, 2014- 2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017- July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Richard M. Schulze Family Foundation, since 2021 |
Compliance, Contracts, Investment Review |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1954 |
Director since November 2008; Chair of the Board since January 2023 |
President, Springboard- Partners in Cross Cultural Leadership (consulting company), since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982- 1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 |
161 |
Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee, since 2017 and Audit Committee Chair, since November 2023); Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) (financial services company), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee), since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Board Governance, Contracts, Investment Review |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1957 |
Director since January 2023 |
Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 |
161 |
Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020- 2022 |
Board Governance, Contracts, Investment Review |
Name, Address, Year of Birth |
Position Held with the Fund and Length of Service |
Principal Occupation(s) During the Past Five Years and Other Relevant Professional Experience |
Number of Funds in the Columbia Funds Complex Overseen |
Other Directorships Held by Director During the Past Five Years and Other Relevant Board Experience |
Committee Assignments |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1950 |
Director since November 2008 |
Professor Emeritus of Economics and Management, Bentley University since 2023; Professor of Economics and Management, Bentley University, 1976-2023; Dean, McCallum Graduate School of Business, Bentley University, 1992- 2002 |
161 |
Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997- 2020 |
Audit, Contracts, Investment Review |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1954 |
Director since January 2020 |
Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977- 2016 |
161 |
Trustee, Catholic Schools Foundation, since 2004 |
Audit, Board Governance, Contracts, Investment Review |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1955 |
Director since January 2022 |
Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002-May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 |
161 |
Director, SpartanNash Company (food distributor), since November 2013 (Chair of the Board since May 2021); Director, Aircastle Limited (aircraft leasing), since August 2006 (Chair of Audit Committee); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Audit, Board Governance, Contracts, Investment Review |
Name, Address, Year of Birth |
Position Held with the Fund and Length of Service |
Principal Occupation(s) During the Past Five Years and Other Relevant Professional Experience |
Number of Funds in the Columbia Funds Complex Overseen |
Other Directorships Held by Director During the Past Five Years and Other Relevant Board Experience |
Committee Assignments |
David M. Moffett c/o Columbia Management Investment Advisers, LLC, 290 Congress Street Boston, MA 02210 1952 |
Director since January 2024 |
Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank |
161 |
Director, CSX Corporation (transportation suppliers); Director, PayPal Holdings Inc. (payment and data processing services); former Director, eBay Inc. (online trading community), 2007- 2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016; former Senior Adviser to The Carlyle Group (financial services), March 2008- September 2008; former Governance Consultant to Bridgewater Associates (investment company), January 2013- December 2015 |
Audit, Contracts, Investment Review |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1952 |
Director since November 2008 |
Director, Enterprise Asset Management, Inc. (private real estate and asset management company), since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987- 1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. |
161 |
Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
Board Governance, Compliance, Contracts, Investment Review |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC, 290 Congress Street, Boston, MA 02210 1964 |
Director since June 2020 |
Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990- 2004 |
161 |
Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, June 2022-June 2023 |
Audit, Contracts, Investment Review |
Name, Address, Year of Birth |
Position Held with the Fund and Length of Service |
Principal Occupation(s) During the Past Five Years and Other Relevant Professional Experience |
Number of Funds in the Columbia Funds Complex* Overseen |
Other Directorships Held by Director During the Past Five Years and Other Relevant Board Experience |
Committee Assignments |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 |
Director since November 2021 and President since June 2021 |
President and Principal Executive Officer of the Columbia Funds, since June 2021; Vice President, Columbia Management Investment Advisers, LLC, since April 2015; formerly, Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC, April 2015 – December 2023; President and Principal Executive Officer, Columbia Acorn/Wanger Funds, since July 2021 |
161 |
Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc., since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC, since January 2022 |
None |
Name, Address and Year of Birth |
Position and Year First Appointed to Position for any Fund in the Columbia Funds Complex or a Predecessor Thereof |
Principal Occupation(s) During Past Five Years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 |
Chief Financial Officer and Principal Financial Officer (2009); Senior Vice President (2019); and Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2024) |
Senior Vice President and North America Head of Operations & Investor Services, Columbia Management Investment Advisers, LLC, since June 2023 (previously Senior Vice President and Head of Global Operations & Investor Services, March 2022 – June 2023, Vice President, Head of North America Operations, and Co- Head of Global Operations, June 2019 - February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds, since 2002; Director, Ameriprise Trust Company, since June 2023. |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 |
Assistant Treasurer (2021) |
Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017. |
Name, Address and Year of Birth |
Position and Year First Appointed to Position for any Fund in the Columbia Funds Complex or a Predecessor Thereof |
Principal Occupation(s) During Past Five Years |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 |
Senior Vice President (2001) |
Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001 – January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc., since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC, since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc., since November 2008 and February 2012, respectively; Chairman of the Board and Director, TAM UK International Holdings Limited, since July 2021; formerly Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl, March 2013 – December 2022 and December 2008 – December 2022, respectively; senior executive of various entities affiliated with Columbia Threadneedle Investments. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 |
Senior Vice President and Assistant Secretary (2021) |
Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc., since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); formerly, President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 |
Senior Vice President and Chief Compliance Officer (2012) |
Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; formerly, Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 |
Senior Vice President (2017), Chief Legal Officer (2017) and Secretary (2015) |
Vice President and Chief Counsel, Ameriprise Financial, Inc., since August 2018 (previously Vice President and Group Counsel, August 2011 – August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 |
Vice President (2011) and Assistant Secretary (2010) |
Vice President and Chief Counsel, Ameriprise Financial, Inc., since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC, since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5903 Ameriprise Financial Center Minneapolis, MN 55474 1960 |
Vice President (2015) |
Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; Director (since January 2007) and President (since October 2014), Columbia Management Investment Services Corp.; Director (since December 2017) and President (since January 2017), Ameriprise Trust Company. |
Board Member |
Dollar Range of Equity Securities Owned by Director of the Fund |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Director |
George S. Batejan |
$1-$10,000 |
Over $100,000(a) |
Kathleen Blatz |
$1-$10,000 |
Over $100,000 |
Pamela G. Carlton |
$50,001-$100,000 |
Over $100,000(a) |
Janet Langford Carrig |
$1-$10,000 |
Over $100,000(a) |
Patricia M. Flynn |
$50,001-$100,000 |
Over $100,000(a) |
Brian J. Gallagher |
$1-$10,000 |
Over $100,000(a) |
Douglas A. Hacker |
$1-$10,000 |
Over $100,000 |
David M. Moffett(b) |
$1-$10,000 |
Over $100,000(a) |
Catherine James Paglia |
$1-$10,000 |
Over $100,000(a) |
Board Member |
Dollar Range of Equity Securities Owned by Director of the Fund |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Director |
Sandra L. Yeager |
$10,001-$50,000 |
Over $100,000(a) |
Board Member |
Dollar Range of Equity Securities Owned by Director of the Fund |
Aggregate Dollar Range of Equity Securities in all Funds in the Columbia Funds Complex Overseen by the Director |
Daniel J. Beckman |
$10,001-$50,000 |
Over $100,000(a) |
Director Name(a) |
Total Cash Compensation from the Columbia Funds Complex Paid to Director(b) |
Amount Deferred from Total Compensation(c) |
George S. Batejan |
$469,000 |
$23,450 |
Kathleen Blatz |
$481,000 |
$0 |
Pamela G. Carlton |
$560,000 |
$0 |
Janet Langford Carrig |
$484,000 |
$484,000 |
Patricia M. Flynn |
$451,000 |
$0 |
Brian J. Gallagher |
$499,000 |
$249,500 |
Douglas A. Hacker |
$466,000 |
$0 |
David M. Moffett(d) |
$456,000 |
$0 |
Catherine James Paglia |
$466,000 |
$0 |
Sandra L. Yeager |
$484,000 |
$242,000 |
Director Name |
Total Cash Compensation from the Fund Paid to Director |
Amount Deferred from Compensation |
George S. Batejan(a) |
$6,447 |
$322 |
Kathleen Blatz |
$6,447 |
$0 |
Pamela G. Carlton(b) |
$6,447 |
$0 |
Janet Langford Carrig(c) |
$6,447 |
$6,447 |
Patricia M. Flynn(d) |
$6,447 |
$0 |
Brian J. Gallagher(e) |
$6,447 |
$3,223 |
Douglas A. Hacker |
$6,447 |
$0 |
David M. Moffett(f) |
$0 |
$0 |
Catherine James Paglia(g) |
$6,447 |
$0 |
Sandra L. Yeager(h) |
$6,447 |
$3,223 |
|
Total Brokerage Commissions | ||
Fund |
2023 |
2022 |
2021 |
For Funds with fiscal period ending December 31 | |||
Tri-Continental Corporation |
$335,283 |
$405,621 |
$356,743 |
|
Brokerage directed for research | |
Fund |
Amount of Transactions |
Amount of Commissions Imputed or Paid |
For Funds with fiscal period ending December 31 | ||
Tri-Continental Corporation |
$553,225,511 |
$85,647 |
Fund |
Issuer |
Value of securities owned at end of fiscal period |
For Funds with fiscal period ending December 31, 2023 | ||
Tri-Continental Corporation |
Bank of America Corp. |
$9,034,875 |
Citigroup Capital XIII |
$4,281,000 | |
Citigroup, Inc. |
$17,890,935 | |
JPMorgan Chase & Co. |
$10,206,000 | |
Morgan Stanley |
$9,325,000 | |
Wells Fargo & Co. |
$13,444,541 |
Fund |
Shareholder Name and Address |
Share Class |
Percentage of Class |
Percentage of Fund (if greater than 25%) |
Tri-Continental Corporation |
CEDE & CO DEPOSITORY TRUST/CENTRAL DELIVERY 55 WATER STREET NEW YORK NY 10041-0004 |
Preferred |
94.63% |
64.78% |
Common |
64.35% |
Long-Term Rating |
Short-Term Rating |
AAA |
F1+ |
AA+ |
F1+ |
AA |
F1+ |
AA– |
F1+ |
A+ |
F1 or F1+ |
A |
F1 or F1+ |
A– |
F2 or F1 |
BBB+ |
F2 or F1 |
BBB |
F3 or F2 |
BBB– |
F3 |
BB+ |
B |
BB |
B |
BB– |
B |
B+ |
B |
B |
B |
B– |
B |
CCC+ / CCC / CCC– |
C |
CC |
C |
C |
C |
RD / D |
RD / D |
Long-Term Rating |
Short-Term Rating |
AAA AA+ AA AA– |
K1+ |
A+ |
K1+ or K1 |
A |
K1 |
A– |
K1 or K2 |
BBB+ |
K2 |
BBB |
K2 or K3 |
BBB– |
K3 |
BB+ BB BB– B+ B B– |
B |
CCC+ CCC CCC– CC C |
C |
D |
D |
1 Overview of key principles and approach |
B-1 |
2 Role, structure and operation of boards |
B-2 |
3 Board committees |
B-5 |
4 Compensation |
B-6 |
5 Audit, risk and control |
B-7 |
6 Shareholder rights |
B-8 |
7 Reporting |
B-9 |
8 Social and environmental factors |
B-11 |
9 Voting matters |
B-13 |
Exhibit Number |
Exhibit Description |
Filed Herewith or Incorporated by Reference |
Information About the Filing that Includes the Document Incorporated by Reference | ||||
Registrant that Made the Filing |
File No. of Such Registrant |
Type of Filing |
Exhibit of Document in that Filing |
Filing Date | |||
(a) |
Incorporated by Reference |
Tri-Continental Corporation |
333-50295 |
Registration Statement on Form N-2 |
2a |
4/16/1998 | |
(b) |
Incorporated by Reference |
Tri-Continental Corporation |
333-104669 |
Post-Effective Amendment #19 on Form N-2 |
(b) |
3/14/2016 | |
(c) |
Not applicable |
|
|
|
|
|
|
(d)(1) |
Specimen certificates of Common Stock |
Incorporated by Reference |
Tri-Continental Corporation |
|
Registration Statement on Form N-2 |
|
3/6/1981 |
(d)(2) |
Specimen certificates of $2.50 Cumulative Preferred Stock |
Incorporated by Reference |
Tri-Continental Corporation |
|
Registration Statement on Form N-2 |
|
3/6/1981 |
(d)(3) |
Incorporated by Reference |
Tri-Continental Corporation |
333-104669 |
Post-Effective Amendment #12 on Form N-2 |
(d)(3) |
4/9/2013 | |
(d)(4) |
Form of Subscription Certificate Subscription Right for shares of Common Stock |
Incorporated by Reference |
Tri-Continental Corporation |
|
Post-Effective Amendment on Form N-2 |
|
9/17/1992 |
(d)(5) |
Incorporated by Reference |
Tri-Continental Corporation |
333-50295 |
Registration Statement on Form N-2 |
2a |
4/16/1998 | |
(e) |
Registrant’s Automatic Dividend Investment and Cash Purchase Plan is set forth in Registrant’s Prospectus which is filed as Part A of this Registration Statement |
|
|
|
|
|
|
(f) |
Not applicable |
|
|
|
|
|
|
(g) |
Incorporated by Reference |
Tri-Continental Corporation |
333-104669 |
Post-Effective Amendment #20 on Form N-2 |
(g) |
4/28/2016 | |
(h) |
Not Applicable |
|
|
|
|
|
|
Exhibit Number |
Exhibit Description |
Filed Herewith or Incorporated by Reference |
Information About the Filing that Includes the Document Incorporated by Reference | ||||
Registrant that Made the Filing |
File No. of Such Registrant |
Type of Filing |
Exhibit of Document in that Filing |
Filing Date | |||
(i) |
Incorporated by Reference |
Columbia Funds Series Trust II |
333-131683 |
Post-Effective Amendment #218 on Form N-1A |
(f) |
2/25/2021 | |
(j) |
Incorporated by Reference |
Columbia Funds Series Trust |
333-89661 |
Post-Effective Amendment #93 on Form N-1A |
(g)(3) |
5/27/2011 | |
(k)(1) |
Incorporated by Reference |
Tri-Continental Corporation |
333-104669 |
Post-Effective Amendment #19 on Form N-2 |
(k)(2) |
3/14/2016 | |
(k)(1)(i) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(k)(1)(i) |
4/25/2024 | |
(k)(2) |
Incorporated by Reference |
Columbia Funds Series Trust II |
333-131683 |
Post-Effective Amendment #179 on Form N-1A |
(h)(11) |
5/25/2018 | |
(k)(2)(i) |
Incorporated by Reference |
Columbia Funds Series Trust |
333-89661 |
Post-Effective Amendment #207 on Form N-1A |
(h)(9)(i) |
7/26/2023 | |
(k)(3) |
Incorporated by Reference |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #2 on Form N-2 |
(k)(3) |
6/2/2022 | |
(k)(4) |
Incorporated by Reference |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #2 on Form N-2 |
(k)(4) |
6/2/2022 | |
(l) |
Incorporated by Reference |
Tri-Continental Corporation |
333-236947 |
Registration Statement on Form N-2 |
(l) |
3/6/2020 | |
(m) |
Not Applicable |
|
|
|
|
|
|
(n) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(n) |
4/25/2024 | |
(o) |
Not Applicable |
|
|
|
|
|
|
(p) |
Not Applicable |
|
|
|
|
|
|
(q)(1) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(1) |
4/25/2024 | |
(q)(2) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(2) |
4/25/2024 | |
(q)(3) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(3) |
4/25/2024 |
Exhibit Number |
Exhibit Description |
Filed Herewith or Incorporated by Reference |
Information About the Filing that Includes the Document Incorporated by Reference | ||||
Registrant that Made the Filing |
File No. of Such Registrant |
Type of Filing |
Exhibit of Document in that Filing |
Filing Date | |||
(q)(4) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(4) |
4/25/2024 | |
(q)(5) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(5) |
4/25/2024 | |
(q)(6) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(6) |
4/25/2024 | |
(q)(7) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(7) |
4/25/2024 | |
(q)(8) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(8) |
4/25/2024 | |
(q)(9) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(9) |
4/25/2024 | |
(q)(10) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(10) |
4/25/2024 | |
(q)(11) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
(q)(11) |
4/25/2024 | |
(r)(1) |
Incorporated by Reference |
Columbia Funds Variable Series Trust II |
333-146374 |
Post-Effective Amendment #68 on Form N-1A |
(p)(1) |
4/26/2019 | |
(r)(2) |
Incorporated by Reference |
Columbia Funds Series Trust II |
333-131683 |
Post-Effective Amendment #241 on Form N-1A |
(p)(2) |
12/21/2023 | |
(s) |
Filed Herewith |
Tri-Continental Corporation |
333-255533 |
Post-Effective Amendment #3 on Form N-2 |
EX_FILING FEES |
4/25/2024 |
|
|
Registration fees |
0 |
NYSE listing fees |
0 |
Registrar fees |
0 |
Legal fees |
0 |
Accounting fees |
0 |
Miscellaneous (mailing, etc.) |
0 |
Title of Class |
Number of Recordholders |
$2.50 Cumulative Preferred |
103 |
Common Stock |
9,038 |
Warrants |
72 |
TRI-CONTINENTAL CORPORATION | |
By: |
/s/ Daniel J. Beckman |
|
Daniel J. Beckman Director and President |
Signature |
Capacity |
Signature |
Capacity |
/s/ Daniel J. Beckman |
Director and President (Principal Executive Officer) |
/s/ Patricia M. Flynn* |
Director |
Daniel J. Beckman |
Patricia M. Flynn | ||
/s/ Michael G. Clarke* |
Chief Financial Officer, Principal Financial Officer, Senior Vice President, Treasurer and Chief Accounting Officer (Principal Accounting Officer) |
/s/ Brian J. Gallagher* |
Director |
Michael G. Clarke |
Brian J. Gallagher | ||
/s/ Pamela G. Carlton* |
Director and Chair of the Board |
/s/ Douglas A. Hacker* |
Director |
Pamela G. Carlton |
Douglas A. Hacker | ||
/s/ George S. Batejan* |
Director |
/s/ David M. Moffett |
Director |
George S. Batejan |
David Moffett | ||
/s/ Kathleen A. Blatz* |
Director |
/s/ Catherine James Paglia* |
Director |
Kathleen A. Blatz |
Catherine James Paglia | ||
/s/ Janet Langford Carrig* |
Director |
/s/ Sandra Yeager* |
Director |
Janet Langford Carrig |
Sandra Yeager |
* |
By: Name: |
/s/ Joseph D’Alessandro |
|
Joseph D’Alessandro** Attorney-in-fact |
| ||
** |
Executed by Joseph D’Alessandro on behalf of Michael G. Clarke pursuant to a Power of Attorney, dated February 1, 2021, on behalf of the Directors pursuant to a Power of Attorney, dated January 1, 2023 and on behalf of David M. Moffett pursuant to a Power of Attorney, dated December 20, 2023. |
/s/ Pamela G. Carlton |
Director and Chair of the Board |
/s/ Patricia M. Flynn |
Director |
Pamela G. Carlton |
Patricia M. Flynn | ||
/s/ George S. Batejan |
Director |
/s/ Brian J. Gallagher |
Director |
George S. Batejan |
Brian J. Gallagher | ||
/s/ Daniel J. Beckman |
Director |
Douglas A. Hacker |
Director |
Daniel J. Beckman |
Douglas A. Hacker | ||
/s/ Kathleen A. Blatz |
Director |
/s/ Catherine James Paglia |
Director |
Kathleen A. Blatz |
Catherine James Paglia | ||
/s/ Janet Langford Carrig |
Director |
/s/ Sandra L. Yeager |
Director |
Janet Langford Carrig |
Sandra L. Yeager |
(k)(1)(i) |
Schedule A, dated July 1, 2023, and Schedule B to the Stockholder Service Agent Agreement |
(n) |
Consent of Independent Registered Public Accounting Firm |
(q)(1) |
The Columbia Threadneedle Investments SIMPLE IRA for Employees |
(q)(2) |
The Columbia Threadneedle Investments Traditional IRA or SEP IRA Kit |
(q)(3) |
The Columbia Threadneedle Investments Traditional IRA or SEP IRA Kit |
(q)(4) |
Tri-Continental Corporation Address Change Form |
(q)(5) |
Tri-Continental Corporation IRA Distribution Request Form |
(q)(6) |
Tri-Continental Corporation Name Change Authorization Form |
(q)(7) |
Tri-Continental Corporation Trustee Certification Form |
(q)(8) |
Tri-Continental IRA Beneficiary Designation Form |
(q)(9) |
Tri-Continental Transfer on Death Registration Request Form |
(q)(10) |
The Columbia Threadneedle Investments Roth IRA Custodial Agreement and Disclosure Statement |
(q)(11) |
Tri-Continental Corporation Transfer of Ownership Request Form |
EX-FILING FEES |
Calculation of Filing Fee Table |
Exhibit No. |
Description |
EX-101.INS |
XBRL Instance Document |
EX-101.SCH |
XBRL Taxonomy Extension Schema Document |
EX-101.CAL |
XBRL Taxonomy Extension Calculation Linkbase |
EX-101.DEF |
XBRL Taxonomy Extension Definition Linkbase |
EX-101.LAB |
XBRL Taxonomy Extension Labels Linkbase |
EX-101.PRE |
XBRL Taxonomy Extension Presentation Linkbase |