<p>Trait rumination is the tendency to focus on negative thoughts and emotions, while state rumination represents specific experiences ruminating. Research has examined the factor structures of trait rumination measures, but little is known about the structure of state ruminative thought content. Participants (<i>N</i> = 112) who were high or low in neuroticism reconstructed their previous day into major “scenes,” identified discrete episodes of rumination, and responded to follow-up items about each ruminative episode. Across participants, 382 unique ruminative episodes were identified. Multi-level exploratory factor analysis revealed ruminative thought content characterized by three within-person factors (Depressive Rumination, Event Perseveration, Goal-Threat) and two between-person factors (Self-Focus, Event-Focus); <i>χ</i>^<i>2</i>(139) = 341.45, <i>p</i> &lt; .001; <i>RMSEA</i> = 0.06, <i>CFI</i> = 0.89, <i>SRMR</i>_{<i>within</i>} = 0.06, <i>SRMR</i>_{<i>between</i>} = 0.07. Self-Focus was associated with trait brooding and depression, whereas Event-Focus was associated with reflective pondering and anxiety (<i>p</i>s &lt; 0.01). Factors showed differential associations with mood and characteristics of ruminative episodes (e.g., duration, intensity, distress). Findings highlight the complexity of ruminative thought content. Clinical implications and future directions for research are discussed.</p>