-----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, EDlP3Kq62o5Cn12dS06dAzQR7i9xqBgQxN0AeHjHGMPrcI/efOW3CCJdpt8o2XkY OhOg+nbFYRqAKcdrxBfAeg== 0000891092-06-001121.txt : 20060501 0000891092-06-001121.hdr.sgml : 20060501 20060501135310 ACCESSION NUMBER: 0000891092-06-001121 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060331 FILED AS OF DATE: 20060501 DATE AS OF CHANGE: 20060501 EFFECTIVENESS DATE: 20060501 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: 06793943 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 e23802_n30b2.txt INTERIM REPORT TO SHAREHOLDERS ================================================================================ CENTRAL SECURITIES CORPORATION ---------- INTERIM REPORT TO STOCKHOLDERS AS OF MARCH 31, 2006 ================================================================================ To the Stockholders of CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended March 31, 2006 and other pertinent information prepared by management without audit by independent auditors are submitted herewith. Comparative net assets are as follows:
Mar. 31, 2006 Dec. 31, 2005 Mar. 31, 2005 ------------- ------------- ------------- Net assets ................................. $596,362,807 $573,979,905 $551,011,773 Net assets per share of Common Stock ....... $ 29.43 $ 27.65 $ 27.53 Shares of Common Stock outstanding ... 20,263,959 20,762,159 20,015,909
Comparative operating results are as follows:
Three months ended March 31, ---------------------------- 2006 2005 ---- ---- Net investment income ............................................... $ 4,863,123 $ 3,581,348 Per share of Common Stock ........................................ .24* .18* Net realized gain on sale of investments ............................ 17,638,863 27,764,663 Increase (decrease) in net unrealized appreciation of investments ... 12,162,691 (9,632,338) Increase in net assets resulting from operations .................... 34,664,677 21,713,673
- ---------- * 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 8, 2006 with 89% 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 2006 was ratified. Detailed information will be published in the June 30, 2006 Semi-Annual Report. In the quarter ended March 31, 2006 the Corporation repurchased 498,200 shares of its Common Stock at an average price per share of $24.65. 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 private transactions directly with stockholders. Stockholders' inquiries are welcome. CENTRAL SECURITIES CORPORATION WILMOT H. KIDD, President [2] PRINCIPAL PORTFOLIO CHANGES January 1 to March 31, 2006 (Common Stock unless specified otherwise)
Number of Shares -------------------------------------- Held March 31, Purchased Sold 2006 --------- ---- --------- Accenture Ltd. .......................................... 400,000 -- Arbinet-thexchange, Inc. ................................ 140,100 359,900 The Bank of New York Company, Inc. ...................... 375,000 875,000 Brady Corporation Class A ............................... 10,000 920,000 Cirrus Logic, Inc. ...................................... 100,000 100,000 Flextronics International Ltd. .......................... 1,000,000 -- McMoRan Exploration Co. ................................. 180,000 500,000 PolyOne Corporation ..................................... 180,000 970,000 TransMontaigne Inc. ..................................... 700,000 1,225,000 Transport Corporation of America, Inc. Class B .......... 531,557 -- Tronox Inc. Class B ..................................... 40,328(a) 40,328 Virage Logic Corporation ................................ 96,400 --
- ---------- (a) Received in a distribution from Kerr-McGee Corporation. TEN LARGEST INVESTMENTS
March 31, 2006 --------------------------------- % of Year First Cost Value Net Assets Acquired ---- ----- ---------- -------- (millions) The Plymouth Rock Company, Inc. ........... $ 2.2 $108.5 18.2% 1982 Brady Corporation Class A ................. 3.5 34.5 5.8 1984 The Bank of New York Company, Inc. ........ 15.5 31.5 5.3 1993 Murphy Oil Corporation .................... 3.7 29.9 5.0 1974 Convergys Corporation ..................... 24.1 28.2 4.7 1998 Agilent Technologies, Inc. ................ 18.1 28.2 4.7 2005 Capital One Financial Corporation ......... 1.4 24.2 4.1 1994 Roper Industries, Inc. .................... 9.0 19.9 3.3 2003 Dover Corporation ......................... 13.0 19.4 3.3 2003 Kerr-McGee Corporation .................... 11.7 19.1 3.2 2001
[3] BOARD OF DIRECTORS C. Carter Walker, Jr., Chairman Simms C. Browning Donald G. Calder Jay R. Inglis Dudley D. Johnson Wilmot H. Kidd 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 Computershare Trust Company, N.A. P. O. Box 43069, Providence, RI 02940-3069 800-756-8200 www.computershare.com CUSTODIAN UMB Bank, N.A. Kansas City, MO INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM KPMG LLP New York, NY [4] -----END PRIVACY-ENHANCED MESSAGE-----