Form N-30B-2 - Periodic and interim reports mailed to shareholders
08 Novembre 2023 - 2:56PM
Edgar (US Regulatory)
CENTRAL SECURITIES CORPORATION
_________
INTERIM REPORT TO STOCKHOLDERS
AS OF SEPTEMBER 30, 2023
To the Stockholders of
Central Securities Corporation:
Financial data for the period ended September 30, 2023 prepared by management without audit by our independent registered public accounting firm and other pertinent information are submitted herewith.
Comparative net assets are as follows:
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Sept. 30, 2023
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June 30, 2023
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Dec. 31, 2022
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Net assets
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$1,218,907,463
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$1,235,924,219
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$1,132,835,676
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Net assets per share of Common Stock
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43.63
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44.18
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40.48
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Shares of Common Stock outstanding
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27,939,274
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27,976,386
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27,988,252
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Comparative operating results are as follows:
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Nine months ended September 30,
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2023
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2022
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Net investment income
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$14,145,995
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$14,204,186
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Per share of Common Stock
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.51
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*
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.52
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*
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Net realized gain on sale of investments
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31,190,225
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49,445,882
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Increase (decrease) in net unrealized appreciation of investments
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48,074,843
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(292,946,449
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Increase (decrease) in net assets resulting from operations
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93,411,063
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(229,296,381
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* Per-share data are based on the average number of Common shares outstanding during the nine-month period.
During the nine months ended September 30, 2023, the Corporation purchased 48,978 shares of its Common Stock at an average price of $35.61. The Corporation may from time to time purchase its Common Stock in such amounts and at such prices as the Board of Directors deems advisable in the best interests of stockholders. Purchases may be made in the open market or in private transactions directly with stockholders.
Stockholders’ inquiries are welcome.
John C. Hill Wilmot H. Kidd Andrew J. O’Neill
630 Fifth Avenue
New York, NY 10111
November 3, 2023
PRINCIPAL PORTFOLIO CHANGES
July 1 to September 30, 2023
(Common Stock unless specified otherwise)
(unaudited)
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Number of Shares
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Purchased
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Sold
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Held
September 30,
2023
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AerCap Holdings N.V.
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50,000
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450,000
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American Express Company
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20,000
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230,000
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Analog Devices, Inc.
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5,000
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440,000
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Hess Corporation
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55,000
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365,000
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JPMorgan Chase & Co.
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30,000
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200,000
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Teledyne Technologies Incorporated
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30,000
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30,000
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Visa Inc.
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65,000
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65,000
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TEN LARGEST INVESTMENTS
(excluding short-term investments)
September 30, 2023
(unaudited)
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Cost
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Value
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Percent of
Net Assets
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Year First
Acquired
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(millions)
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The Plymouth Rock Company, Inc.
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$0.7
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$284.2
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23.3%
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1982
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Analog Devices, Inc.
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5.5
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77.0
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6.3
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1987
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Alphabet Inc.
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26.0
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65.4
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5.4
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2015
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Progressive Corporation
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25.7
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60.6
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5.0
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2015
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Hess Corporation
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15.1
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55.8
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4.6
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2017
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AON plc
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29.1
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48.6
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4.0
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2020
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Motorola Solutions, Inc.
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6.8
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46.3
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3.8
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2000
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The Charles Schwab Corporation
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25.7
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38.4
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3.2
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2016
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American Express Company
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19.8
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34.3
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2.8
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2015
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Meta Platforms, Inc.
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30.3
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30.0
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2.5
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2021
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BOARD OF DIRECTORS
Wilmot H. Kidd, Chairman
L. Price Blackford, Lead Independent Director
Simms C. Browning
Donald G. Calder
David C. Colander
John C. Hill
Jay R. Inglis
Wilmot H. Kidd IV
David M. Poppe
OFFICERS
John C. Hill, Chief Executive Officer and President
Marlene A. Krumholz, Vice President and Secretary
Andrew J. O’Neill, Vice President
Lawrence P. Vogel, Vice President and Treasurer
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 43078, Providence, RI 02940-3078
800-756-8200
www.computershare.com
CUSTODIAN
UMB Bank, n.a.
Kansas City, MO
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
KPMG LLP
New York, NY
Central Securities (AMEX:CET)
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