Tri-Continental updates custody and valuation details

Exchange-listed equities are typically valued using their primary exchange’s closing price or last trade at the close of business of the NYSE.

Rhea-AI Filing Summary

Tri-Continental Corporation (TY) revised its prospectus and SAI disclosures on custody and portfolio valuation. State Street Bank and Trust Company serves as custodian, maintains accounting records under the Investment Manager’s general supervision, and determines the Fund’s NAV. The Board designated the Investment Manager as valuation designee; its valuation committee is authorized to make fair-value determinations and perform related supervisory functions under the Valuation Policy. The SAI glossary now identifies State Street as custodian and removes references to JPMorgan and JPMorgan Chase Bank, N.A.

Filing Explained

The September 28, 2026 supplement describes listed equities as valued at the primary-exchange close or last trade, unquoted or unlisted equities at the bid-ask midpoint, bank loans at fair value unless market quotations are available, fixed income using pricing-service prices if available, and other open-end funds at published NAV.

Key Terms

valuation designee, fair value, NAV, pricing service

4 terms

valuation designee financial

"the Investment Manager as the Fund’s valuation designee"

fair value financial

"make fair value determinations"

Fair value is an estimate of what an asset or company is really worth today, derived from expected future earnings, comparable market prices and other relevant facts—like agreeing a price for a used car after checking mileage, condition and similar listings. Investors use fair value to decide whether a stock looks overpriced or undervalued, which helps guide buy, hold or sell decisions and sets expectations for potential returns and risk.

NAV financial

"determines the NAV for the Fund"

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

pricing service financial

"prices obtained from a pricing service"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/28/2026 - 09:22 AM Accepted by SEC EDGAR 09/28/2026 - 09:19 AM Learn about SEC filing dates

Supplement dated September 28, 2026

to the Prospectus, as supplemented, and Statement of Additional Information (SAI), each dated May 1, 2024

for Tri-Continental Corporation (the Fund)

The disclosure in the prospectus under the heading More Information about the Fund - Custodian and in the SAI under the heading Investment Management and Other Services - Other Services Provided is superseded and replaced with the following:

Custodian

State Street Bank and Trust Company serves as custodian for the Fund’s portfolio securities and is located at One Congress Street, Boston, MA 02114. It also maintains, under the general supervision of the Investment Manager, the accounting records and determines the NAV for the Fund.

The rest of the section remains the same.

The second paragraph under the heading Computation of Net Asset Value is hereby restated as follows:

Equity securities listed on an exchange are typically valued at the closing price or last trade on their primary exchange at the close of business of the NYSE. Equity securities without a readily available closing price or that are not listed on any exchange are typically valued at the mean between the closing bid and asked prices. Other equity securities, debt securities and other assets are valued differently. For instance, bank loans trading in the secondary market are fair valued unless market quotations are readily available and fixed income investments are valued based on prices obtained from a pricing service, if available (which may represent market values or fair values). Investments in other open-end funds are valued at their published NAVs. The value of the Fund’s portfolio securities is determined in accordance with the valuation policy approved by the Board (the Valuation Policy). Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Investment Manager as the Fund’s valuation designee. The Investment Manager, in turn, has authorized its valuation committee to make fair value determinations and to carry out supervisory and certain other functions relating to the valuation of Fund portfolio securities, pursuant to the Valuation Policy.

The rest of the section remains the same.

The disclosure in the SAI under the heading Primer - Glossary, the Custodian is hereby amended to State Street Bank and Trust Company and the references to JPMorgan and JPMorgan Chase Bank, N.A. are hereby removed.

The rest of the section remains the same.

Shareholders should retain this Supplement for future reference.

SUP240_12_015_(09/26)