STATEMENT OF ADDITIONAL INFORMATION May 1, 2021 Tri-Continental Corporation (the “Fund”) 225 Franklin Street Boston, MA 02110 Toll-Free Telephone: (800) 345-6611, option 3 Unless the context indicates otherwise, references herein to “each Fund,” “the Fund,” “a Fund,” “the Funds” or “Funds” refer to the Fund listed above. This Statement of Additional Information (SAI) is not a prospectus, is not a substitute for reading any prospectus and is intended to be read in conjunction with the Fund’s current prospectus dated the same date as this SAI. The most recent annual report for the Fund, which includes the Fund’s audited financial statements for the period ended December 31, 2020, is incorporated herein by reference. Copies of the Fund’s current prospectus and most recent annual and semiannual reports and future reports may be obtained without charge by writing or calling the Fund at the Fund’s stockholder servicing agent, Columbia Management Investment Services Corp. (“CMISC” or the “Service Agent”) at P.O. Box 219371, Kansas City, Missouri 64121-9371 or at the telephone number above. The Fund’s current prospectus and most recent annual and semiannual reports are also available at www.columbiathreadneedleus.com. In the Fund’s annual reports, you will find a discussion of the market conditions and investment strategies that significantly affected the Fund’s performance during the last fiscal year covered by the report. The SAI, as well as the Fund’s most recent annual and semiannual reports are also available at columbiathreadneedleus.com. A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”). Supplement dated July 8, 2021 to the Prospectus and Statement of Additional Information (SAI), each as supplemented, each dated May 1, 2021 for Tri-Continental Corporation (the Fund) Information about the portfolio managers primarily responsible for overseeing the Fund’s investments is shown below. The SAI provides additional information about the portfolio managers, including information relating to compensation, other accounts managed by the portfolio managers, and ownership by the portfolio managers of Fund shares. Portfolio Manager 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 April 2020 Grace Lee, CAIA Portfolio Manager Co-Portfolio Manager October 2020 Oleg Nusinzon, CFA Senior Portfolio Manager Co-Portfolio Manager June 2021 Mr. King joined the Investment Manager in 2010. Mr. King began his investment career in 1983 and earned a B.S. from the University of New Hampshire and an M.B.A. from Harvard Business School. Mr. Jin joined one of the Columbia Management legacy firms or acquired business lines in 2002. Mr. Jin began his investment career in 1998 and earned a M.A. in economics from North Carolina State University. Dr. Sivaraman joined one of the Columbia Management legacy firms or acquired business lines in 2007. Dr. Sivaraman began his investment career in 2007 and earned a B.Tech. in Computer Science Engineering from the Indian Institute of Technology, Madras and a Ph.D. in Operations Research from the Massachusetts Institute of Technology. Ms. Lee joined the Investment Manager in 2014. Ms. Lee began her investment career in 1996 and earned a bachelor’s degree in political science and economics from Stanford University and an M.B.A. from Harvard Business School. Mr. Nusinzon joined the Investment Manager in October 2020. Prior to joining the Investment Manager, Mr. Nusinzon was a Director and a Lead Portfolio Manager at PanAgora Asset Management. Mr. Nusinzon began his investment career in 1997 and earned a B.S.E. from the University of Pennsylvania and an M.B.A. from the Chicago Booth School of Business. The rest of the section remains the same. All references to Peter Albanese are hereby removed from the SAI. Shareholders should retain this Supplement for future reference. SUP240_12_011_(07/21) Supplement dated June 15, 2021 to the Prospectus and Statement of Additional Information (SAI), each dated May 1, 2021 for Tri-Continental Corporation (the Fund) Information about the portfolio managers primarily responsible for overseeing the Fund’s investments is shown below. The SAI provides additional information about the portfolio managers, including information relating to compensation, other accounts managed by the portfolio managers, and ownership by the portfolio managers of Fund shares. Portfolio Manager 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 Peter Albanese Senior Portfolio Manager Co-Portfolio Manager 2014 Raghavendran Sivaraman, Ph.D., CFA Senior Portfolio Manager Co-Portfolio Manager April 2020 Grace Lee, CAIA Portfolio Manager Co-Portfolio Manager October 2020 Oleg Nusinzon, CFA Senior Portfolio Manager Co-Portfolio Manager June 2021 Mr. King joined the Investment Manager in 2010. Mr. King began his investment career in 1983 and earned a B.S. from the University of New Hampshire and an M.B.A. from Harvard Business School. Mr. Jin joined one of the Columbia Management legacy firms or acquired business lines in 2002. Mr. Jin began his investment career in 1998 and earned a M.A. in economics from North Carolina State University. Mr. Albanese joined the Investment Manager in August 2014. Mr. Albanese began his investment career in 1991 and earned a B.S. from Stony Brook University and an M.B.A. from the Stern School of Business at New York University. Dr. Sivaraman joined one of the Columbia Management legacy firms or acquired business lines in 2007. Dr. Sivaraman began his investment career in 2007 and earned a B.Tech. in Computer Science Engineering from the Indian Institute of Technology, Madras and a Ph.D. in Operations Research from the Massachusetts Institute of Technology. Ms. Lee joined the Investment Manager in 2014. Ms. Lee began her investment career in 1996 and earned a bachelor’s degree in political science and economics from Stanford University and an M.B.A. from Harvard Business School. Mr. Nusinzon joined the Investment Manager in October 2020. Prior to joining the Investment Manager, Mr. Nusinzon was a Director and a Lead Portfolio Manager at PanAgora Asset Management. Mr. Nusinzon began his investment career in 1997 and earned a B.S.E. from the University of Pennsylvania and an M.B.A. from the Chicago Booth School of Business. The rest of the section remains the same. Effective immediately, the information under the subsection “The Investment Manager – Portfolio Managers” in the “Investment Management and Other Services” section of the SAI is hereby superseded and replaced with the following: Other Accounts Managed (excluding the Fund) Number Approximate Performance- Ownership and Type Total Net Based of Fund Fund Portfolio Manager of Account* Assets Accounts** Shares Information is as of December 31, 2020, unless otherwise noted Tri-Continental Corporation David L. King 5 RICs $7.09 billion None Over $1,000,000(a) 6 other accounts $2.84 million Yan Jin 5 RICs $7.09 billion None $100,001- 10 other accounts $7.11 million $500,000(a) Peter Albanese 6 RICs $10.56 billion 1 other account $100,001- 1 PIV $31.96 million ($290.33 million) $500,000(a) 59 other accounts $5.86 billion Raghavendran 6 RICs $10.56 billion 1 other account None Sivaraman 21 other accounts $5.86 billion ($290.33 million) Grace Lee 5 RICs $7.09 billion None None 8 other accounts $2.84 million Oleg Nusinzon(b) 7 other accounts $0.97 million None None SUP240_12_010_(06/21) * RIC refers to a Registered Investment Company; PIV refers to a Pooled Investment Vehicle. ** Number and type of accounts for which the advisory fee paid is based in part or wholly on performance and the aggregate net assets in those accounts. (a) Excludes any notional investments. (b) The portfolio manager began managing the Fund after its last fiscal year end; reporting information is provided as of May 31, 2021. The rest of the section remains the same. Shareholders should retain this Supplement for future reference. 2 SUP240_12_010_(06/21) TABLE OF CONTENTS SAI PRIMER .................................................................................................................................................. 2 ABOUT THE FUND.......................................................................................................................................... 4 ADDITIONAL INVESTMENT POLICIES .............................................................................................................. 5 ABOUT FUND INVESTMENTS.......................................................................................................................... 7 Types of Investments ................................................................................................................................. 7 Information Regarding Risks ....................................................................................................................... 43 Lending of Portfolio Securities..................................................................................................................... 72 Interfund Lending....................................................................................................................................... 72 INVESTMENT MANAGEMENT