-----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, PhqY0STc39sraxc9TqosEfl/tBstUD7YrkgdYR/unvTNeTnKieyHqQbgHMP0pGh5 hoVv9PMyhOxlx/o3Of6ruA== 0000891092-05-002062.txt : 20051027 0000891092-05-002062.hdr.sgml : 20051027 20051027121233 ACCESSION NUMBER: 0000891092-05-002062 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050930 FILED AS OF DATE: 20051027 DATE AS OF CHANGE: 20051027 EFFECTIVENESS DATE: 20051027 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: 051159248 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 e22556_n30b2.txt INTERIM REPORT ================================================================================ - -------------------------------------------------------------------------------- CENTRAL SECURITIES CORPORATION ---------- INTERIM REPORT TO STOCKHOLDERS AS OF SEPTEMBER 30, 2005 - -------------------------------------------------------------------------------- ================================================================================ To the Stockholders of CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended September 30, 2005 prepared by management without audit by independent auditors and other pertinent information are submitted herewith. Comparative market values of net assets are as follows:
Sept. 30, 2005 June 30, 2005 Dec. 31, 2004 -------------- ------------- ------------- Net assets ....................................... $576,016,570 $567,123,767 $529,468,675 Net assets per share of Common Stock ............. 28.91 28.40 26.44 Shares of Common Stock outstanding ............. 19,924,209 19,966,909 20,023,209
Comparative operating results are as follows:
Nine months ended September 30, ------------------------------- 2005 2004 ---- ---- Net investment income ............................................ $ 5,218,175 $ 2,139,984 Per share of Common Stock .................................. .26* .11* Net realized gain on sale of investments ......................... 33,854,099 21,786,174 Increase in net unrealized appreciation of investments ........... 13,866,084 10,135,449 Increase in net assets resulting from operations ................. 52,938,358 34,061,607
- ---------- * Per-share data are based on the average number of Common shares outstanding during the nine-month period. In the quarter ended September 30, 2005 the Corporation repurchased 42,700 shares of its Common Stock at an average price of $25.42. 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 630 Fifth Avenue New York, NY 10111 October 20, 2005 [2] PRINCIPAL PORTFOLIO CHANGES July 1 to September 30, 2005 (Common Stock unless specified otherwise) Number of Shares ----------------------------------------- Held September 30, Purchased Sold 2005 --------- ---- ------------- aQuantive, Inc .................... 10,000 -- Chevron Corporation ............... 234,328(a) 234,328 Cincinnati Bell Inc. .............. 100,000 800,000 Convergys Corporation ............. 180,000 1,550,000 Fifth Third Bancorp ............... 300,000 -- PolyOne Corporation ............... 75,000 1,200,000 Roper Industries, Inc. ............ 205,000(b) 410,000 Solectron Corporation ............. 500,000 500,000 2,000,000 The TriZetto Group, Inc. .......... 217,600 1,025,400 Unisys Corporation ................ 100,000 1,000,000 Vical Incorporated ................ 10,000 140,000 Virage Logic Corp. ................ 20,100 20,100 - ---------- (a) Received shares and cash in exchange for 400,000 shares of Unocal Corporation. (b) Stock split. TEN LARGEST INVESTMENTS
September 30, 2005 ---------------------------------- % of Year First Cost Value Net Assets Acquired ---- ----- ---------- -------- (millions) The Plymouth Rock Company, Inc. ............... $ 2.2 $108.5 18.8% 1982 Murphy Oil Corporation ........................ 3.7 29.9 5.2 1974 Brady Corporation ............................. 1.9 26.9 4.7 1984 Capital One Financial Corporation ............. 1.5 24.7 4.3 1994 Intel Corporation ............................. 0.4 24.2 4.2 1986 Convergys Corporation ......................... 24.1 22.3 3.9 1998 Agilent Technologies Inc. ..................... 13.4 19.7 3.4 2005 Roper Industries, Inc. ........................ 9.0 16.1 2.8 2003 Analog Devices, Inc. .......................... 0.5 16.0 2.8 1987 TransMontaigne Inc. ........................... 14.4 15.4 2.7 2005
[3] BOARD OF DIRECTORS Jay R. Inglis, Chairman Simms C. Browning 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 Suite 820 New York, NY 10111 212-698-2020 866-593-2507 (toll free) www.centralsecurities.com CUSTODIAN UMB Bank, N.A. Kansas City, MO TRANSFER AGENT AND REGISTRAR Computershare Investor Services (formerly EquiServe Trust Company) P. O. Box 43069, Providence, RI 02940-3069 781-575-2754 www.equiserve.com INDEPENDENT AUDITORS KPMG LLP, New York [4] -----END PRIVACY-ENHANCED MESSAGE-----