-----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, JHe7/YDG7lK7wAIEXNL9rSuwH5xgDJnizLz2p6nmSCfstqacxiVIEnIufaNRyr/l FbgS+Ew6h8XrbiyMVIFQfw== 0000891092-06-003256.txt : 20061025 0000891092-06-003256.hdr.sgml : 20061025 20061025134614 ACCESSION NUMBER: 0000891092-06-003256 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060930 FILED AS OF DATE: 20061025 DATE AS OF CHANGE: 20061025 EFFECTIVENESS DATE: 20061025 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: 061162382 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 e25230n30b-2.txt INTERIM REPORT TO SHAREHOLDERS ================================================================================ - -------------------------------------------------------------------------------- CENTRAL SECURITIES CORPORATION ---------- INTERIM REPORT TO STOCKHOLDERS AS OF SEPTEMBER 30, 2006 - -------------------------------------------------------------------------------- ================================================================================ To the Stockholders of CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended September 30, 2006 prepared by management without audit by our independent registered public accounting firm and other pertinent information are submitted herewith. Comparative market values of net assets are as follows:
Sept. 30, 2006 June 30, 2006 Dec. 31, 2005 -------------- ------------- ------------- Net assets ....................................... $588,315,485 $600,191,449 $573,979,905 Net assets per share of Common Stock 29.91 29.69 27.65 Shares of Common Stock outstanding ......... 19,670,606 20,215,359 20,762,159
Comparative operating results are as follows:
Nine months ended September 30, ------------------------------- 2006 2005 ---- ---- Net investment income ............................................ $ 7,018,095 $ 5,218,175 Per share of Common Stock .................................. .35* .26* Net realized gain on sale of investments ......................... 34,340,340 33,854,099 Increase in net unrealized appreciation of investments ........... 4,366,522 13,866,084 Increase in net assets resulting from operations ................. 45,724,957 52,938,358
- ---------- * Per-share data are based on the average number of Common shares outstanding during the nine-month period. In the quarter ended September 30, 2006 the Corporation repurchased 544,753 shares of its Common Stock at an average price of $25.41. 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 17, 2006 [2] PRINCIPAL PORTFOLIO CHANGES July 1 to September 30, 2006 (Common Stock unless specified otherwise) Number of Shares --------------------------------------- Held September 30, Purchased Sold 2006 --------- ---- ------------- Agilent Technologies, Inc. ............ 142,400 942,400 Arbinet-thexchange, Inc. .............. 105,000 1,005,000 Arch Coal, Inc. ....................... 100,000 100,000 Cincinnati Bell Inc. .................. 100,000 400,000 Cirrus Logic, Inc. .................... 20,000 120,000 Hewitt Associates, Inc. ............... 300,000 400,000 Kerr-McGee Corporation ................ 400,000 -- Neoware, Inc. ......................... 650,000 1,000,000 PolyOne Corporation ................... 11,000 609,000 Schering-Plough Corporation ........... 450,000 -- Solectron Corporation ................. 200,000 1,800,000 Sonus Networks, Inc. .................. 500,000 2,500,000 TransMontaigne Inc. ................... 1,100,000 -- The TriZetto Group, Inc. .............. 124,600 1,150,000 Tronox Inc. ........................... 40,328 -- Tyco International Ltd. ............... 200,000 400,000 Unisys Corporation .................... 900,000 -- Vical Inc. ............................ 5,100 134,900 TEN LARGEST INVESTMENTS
September 30, 2006 ------------------ % of Year First Cost Value Net Assets Acquired ---- ----- ---------- ---------- (millions) The Plymouth Rock Company, Inc. .............. $ 2.2 $119.0 20.2% 1982 Convergys Corporation ........................ 24.1 32.0 5.4 1998 Brady Corporation ............................ 3.5 32.0 5.4 1984 The Bank of New York Company, Inc. ........... 15.5 30.9 5.2 1993 Agilent Technologies, Inc. ................... 23.9 30.8 5.2 2005 Murphy Oil Corporation ....................... 3.7 28.5 4.8 1974 Capital One Financial Corporation ............ 1.4 23.6 4.0 1994 Intel Corporation ............................ 0.4 20.2 3.4 1986 Dover Corporation ............................ 13.0 19.0 3.2 2003 Roper Industries, Inc. ....................... 9.0 18.3 3.1 2003
[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 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 Trust Company, N.A. P. O. Box 43069, Providence, RI 02940-3069 800-756-8200 www.computershare.com INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM KPMG LLP, New York [4] -----END PRIVACY-ENHANCED MESSAGE-----