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TY

Tri-Continental Corporation

TY

Tri-Continental Corporation • NYSE
$34.34 ▲ 0.12% (+0.04)
Market Cap $1.80 B
52w High $34.84
52w Low $26.54
Dividend Yield 1.88%
P/E 7.8
Volume 19.14K
Outstanding Shares 52.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $34.395M ▼ $4.127M ▼ $76.606M ▼ 222.722% ▲ $1.45 ▼ $0
Q4-2024 $123.194M ▲ $4.482M ▲ $149.898M ▼ 121.677% ▼ $2.78 ▼ $0 ▼
Q2-2024 $84.291M ▲ $-3.57M ▼ $170.851M ▲ 202.692% ▲ $3.29 ▲ $170.851M ▲
Q4-2023 $57.619M ▲ $3.848M ▼ $110.894M ▼ 192.461% ▼ $2.12 ▼ $80.996M ▼
Q2-2023 $28.321M $107.889M $142.186M 502.054% $2.65 $142.187M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $17.438M ▲ $1.903B ▼ $1.925M ▼ $1.902B ▲
Q4-2024 $0 ▼ $1.906B ▲ $4.31M ▲ $1.901B ▲
Q2-2024 $31.975M ▲ $1.862B ▲ $3.658M ▼ $1.858B ▲
Q4-2023 $0 $1.753B ▲ $4.422M ▼ $1.749B ▲
Q2-2023 $0 $1.707B $6.791M $1.7B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $76.606M ▼ $0 $0 $0 $0 $0
Q4-2024 $149.898M ▼ $0 $0 $0 $0 $0
Q2-2024 $170.851M ▲ $0 $0 $0 $0 $0
Q4-2023 $110.894M ▼ $0 $0 $0 $0 $0
Q2-2023 $142.186M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement TY’s income statement looks like a classic market-driven pattern for an equity-heavy closed‑end fund. Results swung from a strong year, to a sharp loss during a tougher market, and then to a solid recovery in the last two years. That tells you returns are very sensitive to equity market moves and can be quite volatile from year to year. Recent earnings and per‑share results show a clear rebound after the weak year, suggesting the portfolio benefited from the broader market recovery, but it also underlines that a single rough market period can quickly pull results into the red.

Balance Sheet

Balance Sheet The balance sheet is simple and conservative, as you’d expect from a traditional closed‑end fund. Assets are almost entirely investment holdings, with equity closely matching those assets and essentially no debt reported. That means TY appears to be operating with little or no financial leverage, reducing balance‑sheet risk but also limiting the ability to amplify returns through borrowing. Over the last few years, the fund’s net asset value moved up strongly in good markets, fell during the weaker year, and has since climbed back, showing that overall financial strength rises and falls largely with portfolio values.

Cash Flow

Cash Flow Standard cash flow metrics are not very informative here, because a closed‑end fund doesn’t run a normal operating business. Reported operating cash flow, free cash flow, and capital spending all show as negligible, which mainly reflects the accounting treatment rather than a lack of economic activity. In practice, the fund’s “cash generation” comes from dividends, interest, and realized gains on its investments, which are then used for expenses and shareholder distributions. The key cash‑flow questions for TY are whether portfolio income and gains are sufficient to cover its ongoing distributions over time, and that depends on future market conditions and management decisions rather than on traditional operating cash flow strength.

Competitive Edge

Competitive Edge TY’s edge is built more on history, structure, and process than on something that can be patented. It is one of the oldest closed‑end funds, with a very long dividend record, which supports trust and brand recognition among income‑oriented investors. Being managed by an established adviser, with a diversified portfolio and a flexible mandate, gives it tools to adapt across sectors and asset classes. The closed‑end structure also lets managers take a long‑term view without worrying about daily redemptions, and the shares can trade at a discount to portfolio value, which can be either a perceived opportunity or a persistent headwind. On the risk side, TY competes with low‑fee index funds and ETFs, faces ongoing pressure to justify active management fees, and remains exposed to shifts in investor sentiment toward closed‑end funds in general.

Innovation and R&D

Innovation and R&D Innovation for TY is about how it invests, not about physical products. Its managers use a blend of quantitative models and traditional fundamental research, looking at company quality, valuation, and catalysts to pick securities across the capital structure. Access to the broader Columbia Threadneedle research platform and data tools is a meaningful advantage, giving TY institutional‑grade analytics. The fund’s flexible, multi‑strategy approach—mixing equities, preferreds, convertibles, and bonds—offers room for ongoing refinement as markets evolve. However, this kind of process‑driven innovation is largely people‑dependent and not unique to one fund, so maintaining an edge requires continually refreshing models, improving data use, and retaining experienced managers; if that slips, the innovation advantage can erode quickly.

Summary

TY is essentially a long‑lived, conservatively structured closed‑end equity and income fund whose results rise and fall with the markets it invests in. The income statement shows a history of sizable swings, including a notable down year followed by a solid recovery, highlighting both the upside and the volatility of its strategy. The balance sheet is straightforward and largely unlevered, which supports financial resilience but keeps returns closely tied to underlying asset performance rather than leverage. Traditional cash‑flow analysis is less relevant; the real questions are about the sustainability of distributions and the fund’s ability to generate income and gains across cycles. Competitively, TY benefits from its long track record, trusted brand, and active management resources, but faces intense competition from cheaper, more transparent index products and from shifting investor preferences. Its main “R&D” is ongoing refinement of its investment process and data use, which must keep evolving to stay effective. Overall, TY looks like a seasoned, income‑focused vehicle with meaningful market and manager risk, balanced by a conservative balance sheet and a long history of adapting through many different market environments.

NEWS

November 18, 2025 · 10:22 AM UTC

Tri-Continental Corporation Declares Fourth Quarter Distribution

Read more