-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CTgUCOK+zP2hSEmK7uku5O9Edjy53h3GbsKV7XCrkqm38quGXFTjBZxDjYRPRGc2 diVAZZOUoSsyQ2qUxpMjZg== 0000891092-05-000762.txt : 20050420 0000891092-05-000762.hdr.sgml : 20050420 20050420090644 ACCESSION NUMBER: 0000891092-05-000762 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050331 FILED AS OF DATE: 20050420 DATE AS OF CHANGE: 20050420 EFFECTIVENESS DATE: 20050420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL SECURITIES CORP CENTRAL INDEX KEY: 0000018748 IRS NUMBER: 131875970 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-30B-2 SEC ACT: 1940 Act SEC FILE NUMBER: 811-00179 FILM NUMBER: 05760675 BUSINESS ADDRESS: STREET 1: 630 FIFTH AVENUE STREET 2: SUITE 820 CITY: NEW YORK STATE: NY ZIP: 10111 BUSINESS PHONE: 212-698-2020 MAIL ADDRESS: STREET 1: 630 FIFTH AVENUE STREET 2: SUITE 820 CITY: NEW YORK STATE: NY ZIP: 10111 FORMER COMPANY: FORMER CONFORMED NAME: TRANS CENTRAL SECURITIES CORP DATE OF NAME CHANGE: 19700722 FORMER COMPANY: FORMER CONFORMED NAME: BUERGER LADET & RADINSKY INC DATE OF NAME CHANGE: 19671026 N-30B-2 1 e20701n_30b2.txt INTERIM REPORT TO STOCKHOLDERS ================================================================================ CENTRAL SECURITIES CORPORATION ---------- INTERIM REPORT TO STOCKHOLDERS AS OF MARCH 31, 2005 ================================================================================ To the Stockholders of CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended March 31, 2005 and other pertinent information prepared by management without audit by independent auditors are submitted herewith. Comparative net assets are as follows:
Mar. 31, 2005 Dec. 31, 2004 Mar. 31, 2004 ------------- ------------- ------------- Net assets........................................ $551,011,773 $529,468,675 $488,536,021 Net assets per share of Common Stock.............. 27.53 26.44 24.89 Shares of Common Stock outstanding.......... 20,015,909 20,023,209 19,631,277
Comparative operating results are as follows:
Three months ended March 31, ---------------------------- 2005 2004 ---- ---- Net investment income............................................. $3,581,348 $ 1,222,555 Per share of Common Stock...................................... .18* .06* Net realized gain on sale of investments.......................... 27,764,663 16,501,813 Decrease in net unrealized appreciation of investments............ (9,632,338) (6,817,589) Increase in net assets resulting from operations.................. 21,713,673 10,906,779
- ---------- * Per-share data are based on the average number of Common shares outstanding during the three-month period. ---------- The annual meeting of stockholders of the Corporation was held on March 9, 2005 with 91% of Common shares being represented. At the meeting the Board of Directors was reelected and the selection of KPMG LLP as auditors of the Corporation for the year 2005 was ratified. Detailed information will be published in the June 30, 2005 Semi-Annual Report. In the quarter ended March 31, 2005 the Corporation repurchased 7,300 shares of its Common Stock at an average price per share of $23.37. These shares were purchased on the American Stock Exchange. The Corporation may from time to time purchase Common Stock in such amounts and at such prices as the Board of Directors may deem advisable in the best interests of stockholders. Purchases may be made on the American Stock Exchange or in transactions directly with stockholders. Stockholders' inquiries are welcome. CENTRAL SECURITIES CORPORATION WILMOT H. KIDD, President [2] PRINCIPAL PORTFOLIO CHANGES January 1 to March 31, 2005 (Common Stock unless specified otherwise)
Number of Shares -------------------------------------- Held March 31, Purchased Sold 2005 --------- ---- --------- Agilent Technologies, Inc.............................. 550,000 550,000 American International Group, Inc...................... 150,000 -- Brady Corporation...................................... 505,000(a) 140,000 870,000 Capital One Financial Corporation...................... 55,000 310,000 Dover Corporation...................................... 20,000 190,000 EnCana Corporation..................................... 160,000 -- Freescale Semiconductor, Inc. Class B.................. 22,083 -- Nexen Inc.............................................. 70,000 70,000 PolyOne Corporation.................................... 75,000 1,275,000 SunGard Data Systems Inc............................... 570,000 -- TransMontaigne Inc..................................... 1,000,000 1,000,000 Transport Corporation of America, Inc.................. 2,200 531,557 Wind River Systems, Inc................................ 50,000 --
- ---------- (a) Stock split. TEN LARGEST INVESTMENTS
March 31, 2005 ---------------------------------- % of Year First Cost Value Net Assets Acquired ---- ----- ---------- -------- (millions) The Plymouth Rock Company, Inc............... $ 2.2 $105.0 19.1% 1982 Murphy Oil Corporation....................... 3.7 29.6 5.4 1974 Brady Corporation............................ 1.9 28.1 5.1 1984 Convergys Corporation........................ 28.1 25.2 4.6 1998 Unocal Corporation........................... 14.7 24.7 4.5 2004 Capital One Financial Corporation............ 1.5 23.2 4.2 1994 Intel Corporation............................ .4 22.8 4.1 1986 Kerr-McGee Corporation....................... 11.7 17.2 3.1 2001 Analog Devices, Inc.......................... .5 15.5 2.8 1987 Flextronics International Ltd................ 3.8 14.6 2.6 1996
[3] BOARD OF DIRECTORS Jay R. Inglis, Chairman Donald G. Calder Dudley D. Johnson Wilmot H. Kidd C. Carter Walker, Jr. OFFICERS Wilmot H. Kidd, President Charles N. Edgerton, Vice President and Treasurer Marlene A. Krumholz, Secretary OFFICE 630 Fifth Avenue New York, NY 10111 212-698-2020 866-593-2507 (toll-free) www.centralsecurities.com TRANSFER AGENT AND REGISTRAR EquiServe Trust Company P. O. Box 43069, Providence, RI 02940-3069 781-575-2724 www.equiserve.com CUSTODIAN UMB Bank, N.A., Kansas City, MO INDEPENDENT AUDITORS KPMG LLP, New York, NY [4] -----END PRIVACY-ENHANCED MESSAGE-----