Tri-Continental Corporation
First Quarter Report
March 31, 2026 (Unaudited)
  
Not FDIC or NCUA Insured
No Financial Institution Guarantee
May Lose Value
Portfolio of Investments
Tri-Continental Corporation, March 31, 2026 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
 
 
Common Stocks 67.6%
Issuer
Shares
Value ($)
Communication Services 6.4%
Diversified Telecommunication Services 1.3%
AT&T, Inc.
350,000
10,146,500
Comcast Corp., Class A
185,000
5,311,350
Verizon Communications, Inc.
200,000
10,040,000
Total
25,497,850
Interactive Media & Services 4.9%
Alphabet, Inc., Class A
218,106
62,718,561
Meta Platforms, Inc., Class A
54,061
30,929,920
Total
93,648,481
Media 0.2%
Versant Media Group, Inc.(a)
75,000
2,776,500
Total Communication Services
121,922,831
Consumer Discretionary 5.9%
Automobile Components 0.3%
Aptiv PLC(a)
84,825
5,890,248
Automobiles 0.6%
General Motors Co.
25,493
1,899,228
Tesla, Inc.(a)
24,600
9,145,050
Total
11,044,278
Broadline Retail 1.4%
Amazon.com, Inc.(a)
105,473
21,966,862
Macy’s, Inc.
285,000
5,155,650
Total
27,122,512
Hotels, Restaurants & Leisure 1.5%
Booking Holdings, Inc.
3,412
14,365,612
Darden Restaurants, Inc.
40,000
7,841,600
Expedia Group, Inc.
25,341
5,850,983
Total
28,058,195
Household Durables 0.1%
Newell Brands, Inc.
600,000
2,058,000
Specialty Retail 0.8%
Best Buy Co., Inc.
82,500
5,296,500
Ross Stores, Inc.
44,319
9,600,825
Total
14,897,325
Common Stocks (continued)
Issuer
Shares
Value ($)
Textiles, Apparel & Luxury Goods 1.2%
Ralph Lauren Corp.
24,143
8,304,951
Tapestry, Inc.
96,756
13,653,239
Total
21,958,190
Total Consumer Discretionary
111,028,748
Consumer Staples 3.9%
Beverages 0.8%
Molson Coors Beverage Co., Class B
104,012
4,478,757
PepsiCo, Inc.
65,000
10,093,850
Total
14,572,607
Consumer Staples Distribution & Retail 0.2%
Kroger Co. (The)
48,022
3,474,872
Food Products 0.5%
Conagra Brands, Inc.
86,237
1,355,645
Mondelez International, Inc., Class A
135,000
7,781,400
Total
9,137,045
Household Products 0.8%
Colgate-Palmolive Co.
22,253
1,896,623
Procter & Gamble Co. (The)
96,125
13,884,295
Total
15,780,918
Personal Care Products 0.2%
Kenvue, Inc.
285,000
4,913,400
Tobacco 1.4%
Altria Group, Inc.
284,207
18,754,820
Philip Morris International, Inc.
47,500
7,853,650
Total
26,608,470
Total Consumer Staples
74,487,312
Energy 3.8%
Oil, Gas & Consumable Fuels 3.8%
Chevron Corp.
165,114
34,162,087
Crescent Energy Co., Class A
235,000
3,172,500
Diamondback Energy, Inc.
27,500
5,439,225
EOG Resources, Inc.
67,500
9,758,475
2
Tri-Continental Corporation  | 2026
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Exxon Mobil Corp.
83,828
14,222,258
Valero Energy Corp.
21,145
5,224,507
Total
71,979,052
Total Energy
71,979,052
Financials 9.5%
Banks 2.6%
Citigroup, Inc.
146,491
16,613,544
JPMorgan Chase & Co.
26,000
7,648,160
M&T Bank Corp.
37,500
7,752,000
U.S. Bancorp
334,976
17,422,102
Total
49,435,806
Capital Markets 3.5%
Ares Capital Corp.
425,000
7,658,500
Bank of New York Mellon Corp. (The)
125,045
14,834,088
Blackrock, Inc.
11,270
10,838,472
Blackstone Secured Lending Fund
225,000
5,330,250
Charles Schwab Corp. (The)
82,774
7,779,101
CME Group, Inc.
5,810
1,715,984
Morgan Stanley
62,500
10,285,625
S&P Global, Inc.
17,710
7,532,771
Total
65,974,791
Consumer Finance 0.7%
Synchrony Financial
182,262
12,397,461
Financial Services 0.9%
Clovis Liquidation Trust(a),(b),(c)
9,371,357
93,714
MasterCard, Inc., Class A
35,572
17,773,905
Total
17,867,619
Insurance 1.3%
Allstate Corp. (The)
77,239
16,014,734
MetLife, Inc.
112,500
7,956,000
Total
23,970,734
Mortgage Real Estate Investment Trusts (REITs) 0.5%
Starwood Property Trust, Inc.
550,000
9,471,000
Total Financials
179,117,411
Common Stocks (continued)
Issuer
Shares
Value ($)
Health Care 7.8%
Biotechnology 1.9%
AbbVie, Inc.
66,617
14,488,531
Amgen, Inc.
33,588
11,817,938
Argenx SE, ADR(a)
1,277
932,529
BioMarin Pharmaceutical, Inc.(a)
20,123
1,136,748
Insmed, Inc.(a)
9,623
1,573,553
Regeneron Pharmaceuticals, Inc.
3,309
2,556,666
Vertex Pharmaceuticals, Inc.(a)
8,484
3,788,446
Total
36,294,411
Health Care Equipment & Supplies 0.3%
Medtronic PLC
60,000
5,199,000
Health Care Providers & Services 1.4%
Centene Corp.(a)
41,800
1,368,532
CVS Health Corp.
198,062
14,224,813
McKesson Corp.
13,629
11,793,991
Total
27,387,336
Life Sciences Tools & Services 0.6%
Charles River Laboratories International, Inc.(a)
62,304
10,747,440
Pharmaceuticals 3.6%
Bristol-Myers Squibb Co.
503,402
30,531,331
Merck & Co., Inc.
85,000
10,224,650
Pfizer, Inc.
529,123
14,857,774
Viatris, Inc.
897,293
12,122,429
Total
67,736,184
Total Health Care
147,364,371
Industrials 5.5%
Aerospace & Defense 1.6%
General Dynamics Corp.
48,935
16,795,471
Lockheed Martin Corp.
14,200
8,582,338
RTX Corp.
26,500
5,111,850
Total
30,489,659
Air Freight & Logistics 0.5%
FedEx Corp.
11,237
4,002,394
United Parcel Service, Inc., Class B
50,000
4,919,000
Total
8,921,394
Tri-Continental Corporation  | 2026
3
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Construction & Engineering 0.1%
EMCOR Group, Inc.
2,270
1,675,964
Electrical Equipment 0.1%
Rockwell Automation, Inc.
5,395
1,936,157
Ground Transportation 0.4%
Uber Technologies, Inc.(a)
33,200
2,388,076
Union Pacific Corp.
20,000
4,852,400
Total
7,240,476
Machinery 1.8%
Nordson Corp.
11,265
2,997,166
Pentair PLC
145,115
12,640,968
Snap-On, Inc.
35,324
12,830,383
Stanley Black & Decker, Inc.
75,000
5,329,500
Total
33,798,017
Passenger Airlines 0.5%
Delta Air Lines, Inc.
160,504
10,670,306
Professional Services 0.5%
Automatic Data Processing, Inc.
22,047
4,479,509
Broadridge Financial Solutions, Inc.
35,874
5,828,808
Total
10,308,317
Total Industrials
105,040,290
Information Technology 18.0%
Communications Equipment 1.8%
Arista Networks, Inc.(a)
114,930
14,111,105
Cisco Systems, Inc.
251,908
19,545,542
Total
33,656,647
Electronic Equipment, Instruments & Components 1.3%
Corning, Inc.
52,500
7,138,425
Keysight Technologies, Inc.(a)
51,640
14,581,587
TE Connectivity PLC
17,539
3,666,001
Total
25,386,013
IT Services 0.3%
International Business Machines Corp.
20,000
4,847,800
Semiconductors & Semiconductor Equipment 7.2%
Broadcom, Inc.
45,126
13,966,948
KLA Corp.
3,124
4,599,809
Lam Research Corp.
16,205
3,462,360
Common Stocks (continued)
Issuer
Shares
Value ($)
Micron Technology, Inc.
18,774
6,342,608
NVIDIA Corp.
487,292
84,983,725
QUALCOMM, Inc.
53,135
6,842,725
Teradyne, Inc.
19,762
5,858,643
Texas Instruments, Inc.
52,500
10,192,350
Total
136,249,168
Software 4.1%
Adobe, Inc.(a)
49,662
12,071,839
Autodesk, Inc.(a)
5,336
1,277,439
Microsoft Corp.
111,637
41,324,668
Palantir Technologies, Inc., Class A(a)
83,815
12,260,458
Salesforce, Inc.
48,453
9,044,722
ServiceNow, Inc.(a)
15,835
1,655,549
Total
77,634,675
Technology Hardware, Storage & Peripherals 3.3%
Apple, Inc.(d)
225,673
57,273,551
HP, Inc.
300,000
5,763,000
Total
63,036,551
Total Information Technology
340,810,854
Materials 2.1%
Chemicals 1.4%
CF Industries Holdings, Inc.
127,019
16,492,147
LyondellBasell Industries NV, Class A
65,000
5,236,400
Nutrien Ltd.
62,500
4,716,250
Total
26,444,797
Containers & Packaging 0.3%
International Paper Co.
135,000
4,819,500
Metals & Mining 0.4%
Newmont Corp.
75,253
8,146,137
Total Materials
39,410,434
Real Estate 2.2%
Hotel & Resort REITs 0.1%
Host Hotels & Resorts, Inc.
81,755
1,566,426
Industrial REITs 0.3%
Prologis, Inc.
40,000
5,287,200
Office REITs 0.2%
BXP, Inc.
100,000
5,190,000
4
Tri-Continental Corporation  | 2026
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Common Stocks (continued)
Issuer
Shares
Value ($)
Residential REITs 0.3%
Invitation Homes, Inc.
210,000
5,218,500
Retail REITs 0.3%
Realty Income Corp.
85,000
5,200,300
Specialized REITs 1.0%
Equinix, Inc.
10,492
10,284,678
SBA Communications Corp.
21,524
3,704,496
VICI Properties, Inc.
185,000
5,054,200
Total
19,043,374
Total Real Estate
41,505,800
Utilities 2.5%
Electric Utilities 1.9%
Duke Energy Corp.
40,000
5,237,600
Edison International
75,877
5,552,679
Entergy Corp.
45,000
5,056,200
Exelon Corp.
127,259
6,238,236
FirstEnergy Corp.
102,500
5,192,650
PG&E Corp.
539,723
9,482,933
Total
36,760,298
Gas Utilities 0.3%
UGI Corp.
150,000
5,463,000
Independent Power and Renewable Electricity Producers 0.3%
AES Corp. (The)
341,716
4,814,779
Total Utilities
47,038,077
Total Common Stocks
(Cost $888,274,295)
1,279,705,180
 
Convertible Bonds 6.6%
Issuer
Coupon
Rate
 
Principal
Amount
($)
Value ($)
Automotive 0.2%
Rivian Automotive, Inc.
03/15/2029
4.625%
 
4,000,000
4,280,000
Brokerage/Asset Managers/Exchanges 0.5%
Galaxy Digital Holdings LP(e)
05/01/2031
0.500%
 
7,000,000
4,964,480
WisdomTree, Inc.(e)
08/15/2030
4.625%
 
5,000,000
5,435,000
Total
10,399,480
Convertible Bonds (continued)
Issuer
Coupon
Rate
 
Principal
Amount
($)
Value ($)
Cable and Satellite 0.3%
BlackSky Technology, Inc.(e)
08/01/2033
8.250%
 
4,000,000
4,875,357
Consumer Products 0.2%
LCI Industries
03/01/2030
3.000%
 
3,700,000
4,460,397
Diversified Manufacturing 0.3%
Greenbrier Companies, Inc. (The)
04/15/2028
2.875%
 
4,500,000
5,190,300
Electric 1.0%
PG&E Corp.
12/01/2027
4.250%
 
5,000,000
5,177,379
PPL Capital Funding, Inc.(e)
12/01/2030
3.000%
 
5,000,000
5,220,000
WEC Energy Group, Inc.
06/01/2029
4.375%
 
6,300,000
7,793,100
Total
18,190,479
Finance Companies 0.3%
Hercules Capital, Inc.(e)
09/01/2028
4.750%
 
5,100,000
4,926,600
Health Care 0.3%
Oscar Health, Inc.(e)
09/01/2030
2.250%
 
5,700,000
5,140,830
Healthcare REIT 0.2%
Welltower OP LLC(e)
07/15/2029
3.125%
 
3,000,000
4,748,394
Leisure 0.3%
Live Nation Entertainment, Inc.
01/15/2030
2.875%
 
4,800,000
5,172,000
Metals and Mining 0.1%
Caledonia Mining Corp. PLC(e)
01/15/2033
5.875%
 
2,700,000
2,565,000
Oil Field Services 0.2%
Crescent Energy Co.(e)
03/15/2031
2.750%
 
2,700,000
3,099,600
Other Financial Institutions 0.3%
MARA Holdings, Inc.(f)
06/01/2031
0.000%
 
7,000,000
6,415,500
Tri-Continental Corporation  | 2026
5
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Convertible Bonds (continued)
Issuer
Coupon
Rate
 
Principal
Amount
($)
Value ($)
Retailers 0.0%
Farfetch Ltd.(g)
05/01/2027
0.000%
 
5,300,000
19,875
Technology 1.9%
Eos Energy Enterprises, Inc.(e)
12/01/2031
1.750%
 
8,000,000
4,700,000
Nebius Group NV(e)
09/15/2032
2.750%
 
6,500,000
6,786,000
03/15/2033
2.625%
 
6,000,000
5,592,600
Plug Power, Inc.(e)
12/01/2033
6.750%
 
2,400,000
2,696,658
Progress Software Corp.
03/01/2030
3.500%
 
5,800,000
5,163,359
Strategy, Inc.(f)
03/01/2030
0.000%
 
6,000,000
5,236,754
Super Micro Computer, Inc.
03/01/2029
3.500%
 
6,200,000
4,943,620
Total
35,118,991
Transportation Services 0.2%
Hertz Corp. (The)(e)
10/01/2030
5.500%
 
7,300,000
4,368,635
Wireless 0.3%
AST SpaceMobile, Inc.(e)
01/15/2036
2.000%
 
500,000
527,500
04/15/2036
2.250%
 
5,000,000
4,810,000
Total
5,337,500
Total Convertible Bonds
(Cost $130,496,702)
124,308,938
 
Convertible Preferred Stocks 6.4%
Issuer
 
Shares
Value ($)
Consumer Discretionary 0.2%
Household Durables 0.2%
Whirlpool Corp.
8.500%
120,000
4,914,000
Total Consumer Discretionary
4,914,000
Financials 1.2%
Banks 0.5%
Bank of America Corp.(h)
7.250%
8,500
10,120,185
Convertible Preferred Stocks (continued)
Issuer
 
Shares
Value ($)
Capital Markets 0.7%
Ares Management Corp.
6.750%
110,000
4,065,600
KKR & Co., Inc.
6.250%
235,000
9,425,850
Total
13,491,450
Total Financials
23,611,635
Health Care 0.6%
Health Care Providers & Services 0.3%
BrightSpring Health Services, Inc.
6.750%
37,500
5,340,012
Life Sciences Tools & Services 0.3%
Bruker Corp.
6.375%
18,500
5,333,365
Total Health Care
10,673,377
Industrials 1.3%
Aerospace & Defense 0.9%
Boeing Co. (The)
6.000%
165,000
10,710,150
VSE Corp.
5.750%
110,000
5,481,300
Total
16,191,450
Trading Companies & Distributors 0.4%
QXO, Inc.
5.500%
145,000
8,001,916
Total Industrials
24,193,366
Information Technology 1.6%
Semiconductors & Semiconductor Equipment 0.5%
Microchip Technology, Inc.
7.500%
175,000
9,969,750
Software 0.6%
Oracle Corp.
6.500%
235,000
10,802,950
Technology Hardware, Storage & Peripherals 0.5%
Hewlett Packard Enterprise Co.
7.625%
145,000
9,447,694
Total Information Technology
30,220,394
Materials 0.3%
Chemicals 0.3%
Albemarle Corp.
7.250%
72,500
5,187,306
Total Materials
5,187,306
6
Tri-Continental Corporation  | 2026
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Convertible Preferred Stocks (continued)
Issuer
 
Shares
Value ($)
Utilities 1.2%
Electric Utilities 1.2%
NextEra Energy, Inc.
7.299%
140,000
7,902,722
PG&E Corp.
6.000%
130,000
5,620,206
Southern Co. (The)
7.125%
190,000
9,816,530
Total
23,339,458
Total Utilities
23,339,458
Total Convertible Preferred Stocks
(Cost $117,122,339)
122,139,536
 
Corporate Bonds & Notes 20.1%
Issuer
Coupon
Rate
 
Principal
Amount ($)
Value ($)
Aerospace & Defense 0.5%
Boeing Co. (The)
05/01/2054
6.858%
 
4,500,000
4,950,949
United Technologies Corp.
06/01/2042
4.500%
 
5,200,000
4,614,616
Total
9,565,565
Airlines 0.2%
American Airlines, Inc.(e)
02/15/2028
7.250%
 
4,700,000
4,730,378
Apartment REIT 0.3%
Invitation Homes Operating Partnership LP
02/01/2035
4.875%
 
5,000,000
4,773,368
Automotive 0.8%
American Axle & Manufacturing, Inc.(e)
10/15/2033
7.750%
 
5,300,000
5,160,403
Nissan Motor Co., Ltd.(e)
07/17/2030
7.500%
 
4,500,000
4,535,242
Rivian Holdings/Automotive LLC(e)
01/15/2031
10.000%
 
5,500,000
5,333,043
Total
15,028,688
Banking 1.0%
Citigroup, Inc.(i)
Subordinated
09/19/2039
5.411%
 
5,000,000
4,895,338
JPMorgan Chase & Co.(h),(i)
 
6.500%
 
4,700,000
4,820,910
JPMorgan Chase & Co.(i)
04/22/2052
3.328%
 
7,000,000
4,751,349
Corporate Bonds & Notes (continued)
Issuer
Coupon
Rate
 
Principal
Amount ($)
Value ($)
Morgan Stanley(i)
03/13/2047
5.900%
 
5,200,000
5,177,506
Total
19,645,103
Building Materials 0.3%
Stanley Black & Decker, Inc.
11/15/2048
4.850%
 
6,000,000
5,031,567
Cable and Satellite 0.1%
Telesat Canada/LLC(e)
10/15/2027
6.500%
 
5,286,000
2,464,749
Chemicals 0.9%
INEOS Finance PLC(e)
04/15/2029
7.500%
 
5,700,000
5,531,018
Innophos Holdings, Inc.(e)
06/15/2029
11.500%
 
5,500,000
4,578,448
Olympus Water US Holding Corp.(e)
10/01/2029
6.250%
 
7,500,000
7,114,998
Total
17,224,464
Construction Machinery 0.0%
Vortex Opco LLC.(e),(g)
04/30/2030
0.000%
 
4,876,632
72,703
Consumer Products 0.7%
Mattel, Inc.(e)
04/01/2029
3.750%
 
3,000,000
2,902,593
Mattel, Inc.
10/01/2040
6.200%
 
1,430,000
1,394,008
11/01/2041
5.450%
 
745,000
676,007
Newell Brands, Inc.(i)
04/01/2036
7.375%
 
3,200,000
2,946,155
Newell Brands, Inc.
04/01/2046
7.000%
 
5,000,000
4,010,213
SWF Escrow Issuer Corp.(e)
10/01/2029
6.500%
 
7,500,000
1,485,003
Total
13,413,979
Electric 2.3%
Duke Energy Corp.(i)
09/01/2054
6.450%
 
4,900,000
5,049,978
Entergy Corp.(i)
12/01/2054
7.125%
 
4,700,000
4,811,418
Entergy Louisiana LLC
03/15/2055
5.800%
 
5,500,000
5,399,576
FirstEnergy Corp.
03/01/2050
3.400%
 
15,000,000
10,021,634
Tri-Continental Corporation  | 2026
7
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Corporate Bonds & Notes (continued)
Issuer
Coupon
Rate
 
Principal
Amount ($)
Value ($)
Pacific Gas and Electric Co.
07/01/2050
4.950%
 
6,000,000
4,983,810
Southern Co. (The)(i)
04/01/2058
6.000%
 
5,400,000
5,425,420
Wisconsin Electric Power Co.
10/01/2054
5.050%
 
8,200,000
7,358,942
Total
43,050,778
Food and Beverage 0.7%
Primo Water Holdings, Inc./Triton Water Holdings, Inc.(e)
04/01/2029
6.250%
 
7,000,000
7,012,567
United Natural Foods, Inc.(e)
10/15/2028
6.750%
 
5,530,000
5,533,598
Total
12,546,165
Gaming 0.4%
Scientific Games Holdings LP/US FinCo, Inc.(e)
03/01/2030
6.625%
 
9,500,000
8,211,963
Health Care 1.2%
Acadia Healthcare Co., Inc.(e)
04/15/2029
5.000%
 
5,200,000
5,066,740
03/15/2033
7.375%
 
2,700,000
2,769,002
CVS Health Corp.(i)
03/10/2055
7.000%
 
4,500,000
4,631,219
Quotient Ltd.(b),(c),(e),(j)
04/15/2030
12.000%
 
3,607,015
3,498,804
Star Parent, Inc.(e)
10/01/2030
9.000%
 
6,800,000
7,063,997
Total
23,029,762
Independent Energy 1.3%
Hilcorp Energy I LP/Finance Co.(e)
04/15/2030
6.000%
 
10,500,000
10,213,285
Occidental Petroleum Corp.
07/15/2044
4.500%
 
9,340,000
7,284,472
04/15/2046
4.400%
 
9,600,000
7,583,209
Total
25,080,966
Life Insurance 0.3%
MetLife, Inc.
07/15/2052
5.000%
 
5,500,000
4,857,591
Media and Entertainment 1.5%
Clear Channel Outdoor Holdings, Inc.(e)
04/15/2028
7.750%
 
9,800,000
9,851,162
Deluxe Corp.(e)
06/01/2029
8.000%
 
5,000,000
5,037,785
Corporate Bonds & Notes (continued)
Issuer
Coupon
Rate
 
Principal
Amount ($)
Value ($)
Lions Gate Capital Holdings LLC(e)
04/15/2029
5.500%
 
11,500,000
9,372,499
Mav Acquisition Corp.(e)
08/01/2029
8.000%
 
5,000,000
4,993,017
Total
29,254,463
Midstream 0.3%
AmeriGas Partners LP/Finance Corp.(e)
06/01/2030
9.500%
 
4,700,000
4,980,701
Oil Field Services 0.4%
Nabors Industries, Inc.(e)
08/15/2031
8.875%
 
5,000,000
5,213,617
Transocean Aquila Ltd.(e)
09/30/2028
8.000%
 
3,200,000
3,272,606
Total
8,486,223
Other Financial Institutions —%
WeWork Companies US LLC(b),(c),(e)
08/15/2027
0.000%
 
4,500,000
0
Other REIT 0.3%
Prologis LP
03/15/2054
5.250%
 
5,700,000
5,310,093
Packaging 0.4%
Mauser Packaging Solutions Holding Co.(e)
04/15/2030
9.250%
 
9,000,000
8,354,147
Pharmaceuticals 0.8%
1261229 BC Ltd.(e)
04/15/2032
10.000%
 
4,800,000
4,885,578
AbbVie, Inc.
03/15/2055
5.600%
 
5,400,000
5,303,214
Organon & Co./Foreign Debt Co-Issuer BV(e)
05/15/2034
7.875%
 
3,600,000
2,962,352
Organon Finance 1 LLC(e)
04/30/2031
5.125%
 
1,600,000
1,305,999
Total
14,457,143
Railroads 0.3%
Union Pacific Corp.
02/20/2035
5.100%
 
4,900,000
4,990,372
Restaurants 0.5%
Fertitta Entertainment LLC/Finance Co., Inc.(e)
01/15/2030
6.750%
 
10,500,000
9,810,003
Retailers 0.3%
Michaels Cos., Inc. (The)(e)
03/15/2034
11.000%
 
5,700,000
5,316,917
8
Tri-Continental Corporation  | 2026
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
Corporate Bonds & Notes (continued)
Issuer
Coupon
Rate
 
Principal
Amount ($)
Value ($)
Supermarkets 0.4%
Albertsons Cos, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(e)
03/31/2031
5.500%
 
3,100,000
3,066,276
Safeway, Inc.
02/01/2031
7.250%
 
4,200,000
4,375,086
Total
7,441,362
Technology 3.6%
APLD ComputeCo LLC(e)
12/15/2030
9.250%
 
7,500,000
7,727,995
Broadcom, Inc.
02/15/2041
3.500%
 
6,200,000
4,954,593
Cloud Software Group, Inc.(e)
09/30/2029
9.000%
 
5,200,000
5,016,818
CoreWeave, Inc.(e)
06/01/2030
9.250%
 
8,000,000
7,780,659
Hewlett Packard Enterprise Co.
10/15/2054
5.600%
 
5,700,000
5,100,823
International Business Machines Corp.
02/06/2053
5.100%
 
6,000,000
5,222,311
Minerva Merger Sub, Inc.(e)
02/15/2030
6.500%
 
5,500,000
5,137,628
Neptune Bidco US, Inc.(e)
04/15/2029
9.290%
 
7,254,000
7,280,818
Oracle Corp.
02/04/2046
6.550%
 
8,000,000
7,469,043
Picard Midco, Inc.(e)
03/31/2029
6.500%
 
5,200,000
5,060,009
Rocket Software, Inc.(e)
02/15/2029
6.500%
 
9,000,000
8,103,277
Total
68,853,974
Transportation Services 0.3%
Hertz Corp. (The)(e)
07/15/2029
12.625%
 
5,500,000
4,824,915
Total Corporate Bonds & Notes
(Cost $400,922,182)
380,808,102
 
Preferred Debt 0.3%
Issuer
Coupon
Rate
 
Shares
Value ($)
Banking 0.3%
Citigroup Capital XIII(i)
10/30/2040
10.299%
165,000
4,842,750
Total Preferred Debt
(Cost $4,356,642)
4,842,750
 
Preferred Stocks 0.1%
Issuer
 
Shares
Value ($)
Utilities 0.1%
Electric Utilities 0.1%
PPL Corp.
7.000%
55,000
2,806,650
Total Utilities
2,806,650
Total Preferred Stocks
(Cost $2,755,325)
2,806,650
 
Warrants —%
Issuer
Shares
Value ($)
Health Care —%
Health Care Equipment & Supplies —%
Quotient Ltd.(a),(b),(c)
10/13/2026
39,425
0
Quotient Ltd.(a),(b),(c)
07/06/2027
181,609
0
Total
0
Total Health Care
0
Total Warrants
(Cost $—)
0
 
Money Market Funds 0.4%
 
Shares
Value ($)
Columbia Short-Term Cash Fund, 3.790%(k),(l)
6,950,026
6,947,246
Total Money Market Funds
(Cost $6,946,664)
6,947,246
Total Investments in Securities
(Cost: $1,550,874,149)
1,921,558,402
Other Assets & Liabilities, Net
(27,649,001
)
Net Assets
1,893,909,401
Tri-Continental Corporation  | 2026
9
Portfolio of Investments  (continued)
Tri-Continental Corporation, March 31, 2026 (Unaudited)
At March 31, 2026, securities and/or cash totaling $3,115,018 were pledged as collateral.
Investments in derivatives 
Long futures contracts
Description
Number of
contracts
Expiration
date
Trading
currency
Notional
amount
Value/Unrealized
appreciation ($)
Value/Unrealized
depreciation ($)
S&P 500 Index E-mini
19
06/2026
USD
6,242,213
—
(148,390
)
Notes to Portfolio of Investments 
(a)
Non-income producing investment.
(b)
Represents fair value as determined in good faith under procedures approved by the Board of Directors. At March 31, 2026, the total value of these securities amounted to $3,592,518, which represents 0.19% of total net assets.
(c)
Valuation based on significant unobservable inputs.
(d)
This security or a portion of this security has been pledged as collateral in connection with investments sold short and/or derivative contracts.
(e)
Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At March 31, 2026, the total value of these securities amounted to $293,089,966, which represents 15.48% of total net assets.
(f)
Zero coupon bond.
(g)
Represents a security in default.
(h)
Perpetual security with no specified maturity date.
(i)
Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of March 31, 2026.
(j)
Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash.
(k)
The rate shown is the seven-day current annualized yield at March 31, 2026.
(l)
Under the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended March 31, 2026 are as follows:
 
Affiliated issuers
Beginning
of period($)
Purchases($)
Sales($)
Net change in
unrealized
appreciation
(depreciation)($)
End of
period($)
Realized gain
(loss)($)
Dividends($)
End of
period shares
Columbia Short-Term Cash Fund, 3.790%
 
15,324,308
95,434,835
(103,810,941
)
(956
)
6,947,246
(1,866
)
219,953
6,950,026
Abbreviation Legend 
ADR
American Depositary Receipt
Currency Legend 
USD
US Dollar
Investments are valued using policies described in the Notes to Financial Statements included within the most recent shareholder report.
10
Tri-Continental Corporation  | 2026
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You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
1QT240_(05/26)