TRI-CONTINENTAL Corp — Regulatory Filings 2022

Mar 28, 2022

424B3 1 d331358d424b3.htm 424B3 424B3

Filed pursuant to Rule 424(b)(3)

Registration Statement Nos. 333-255533

Supplement dated March 28, 2022

to the Prospectus dated May 1, 2021

for Tri-Continental Corporation (the Fund)

The tables under the caption “Financial Highlights” in the Prospectus are hereby superseded and replaced with the following for the purpose of adding fiscal year-ended December 31, 2021 financial highlights to the table, such that the Fund is presenting 10 years of financial highlights through the period ended December 31, 2021.

| Year
ended December 31, | 2021 | 2020 | 2019 |
| --- | --- | --- | --- |
| Per
share data | | | |
| Net
asset value, beginning of period | $33.26 | $31.03 | $26.58 |
| Income
from investment operations: | | | |
| Net
investment income | 1.07 | 1.05 | 1.03 |
| Net
realized and unrealized gain (loss) | 7.28 | 2.86 | 5.39 |
| Total
from investment operations | 8.35 | 3.91 | 6.42 |
| Less
distributions to Stockholders from: | | | |
| Net
investment income — Preferred Stock | (0.04) | (0.04) | (0.04) |
| Net
investment income — Common Stock | (1.05) | (1.07) | (1.01) |
| Net
realized gains — Common Stock | (3.64) | (0.57) | (0.92) |
| Total
distributions to Stockholders | (4.73) | (1.68) | (1.97) |
| Dilution
in net asset value from dividend reinvestment | (0.32) | — | — |
| Increase
resulting from share repurchases | 0.13 | — | — |
| Net
asset value, end of period | $36.69 | $33.26 | $31.03 |
| Adjusted
net asset value, end of period (a) | $36.57 | $33.14 | $30.92 |
| Market
price, end of period | $33.19 | $29.47 | $28.20 |
| Total
return | | | |
| Based
upon net asset value | 26.76% | 14.17% | 25.20% |
| Based
upon market price | 29.41% | 11.31% | 28.59% |
| Ratios
to average net assets | | | |
| Expenses
to average net assets for Common Stock (b) | 0.46% (c) | 0.48% | 0.49% |
| Net
investment income to average net assets for Common Stock | 2.77% | 3.45% | 3.32% |
| Supplemental
data | | | |
| Net
assets, end of period (000's): | | | |
| Common
Stock | $2,005,857 | $1,745,135 | $1,664,401 |
| Preferred
Stock | $37,637 | $37,637 | $37,637 |
| Total
net assets | $2,043,494 | $1,782,772 | $1,702,038 |
| Portfolio
turnover | 56% | 67% | 60% |

Notes to Financial Highlights

| (a) | Assumes the exercise of
outstanding warrants. |
| --- | --- |
| (b) | In addition to the fees and
expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
| (c) | Ratios
include interest on collateral expense which is less than 0.01%. |

SUP240_12_011_(03/22)

2018	2017	2016	2015	2014	2013	2012
$29.88	$25.91	$23.49	$24.76	$23.11	$18.77	$16.77
0.99	0.93	0.90	0.81	0.73	0.69	0.63
(2.35)	4.24	2.33	(1.37)	1.70	4.36	2.00
(1.36)	5.17	3.23	(0.56)	2.43	5.05	2.63
(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)
(0.96)	(1.07)	(0.91)	(0.81)	(0.75)	(0.68)	(0.60)
(0.95)	(0.10)	—	—	—	—	—
(1.94)	(1.20)	(0.94)	(0.84)	(0.78)	(0.71)	(0.63)
—	—	(0.06)	(0.05)	—	—	—
—	—	0.19	0.18	—	—	—
$26.58	$29.88	$25.91	$23.49	$24.76	$23.11	$18.77
$26.48	$29.77	$25.83	$23.42	$24.68	$23.04	$18.71
$23.52	$26.94	$22.05	$20.02	$21.41	$19.98	$16.00
(4.10)%	20.82%	15.25%	(1.36%)	11.09%	27.76%	16.24%
(5.88)%	28.00%	15.08%	(2.78%)	11.11%	29.58%	16.77%
0.49%	0.49%	0.50%	0.50%	0.49%	0.50%	0.52%
3.14%	3.21%	3.59%	3.16%	2.91%	3.12%	3.28%
$1,431,211	$1,637,553	$1,470,843	$1,382,712	$1,511,285	$1,435,734	$1,183,285
$37,637	$37,637	$37,637	$37,637	$37,637	$37,637	$37,637
$1,468,848	$1,675,190	$1,508,480	$1,420,349	$1,548,922	$1,473,371	$1,220,922
63%	95%	82%	76%	76%	62%	68%

The rest of the section remains the same.

Shareholders should retain this Supplement for future reference.

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SUP240_12_011_(03/22)