# EDGAR Filing Document

**Accession Number:** 0000018748
**File Stem:** 0001999371-26-009246
**Filing Date:** 2026-4
**Character Count:** 5821
**Document Hash:** 2b0504b206eb53d591571f498bb72194
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-26-009246.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001999371-26-009246

**CONFORMED SUBMISSION TYPE**: N-30B-2

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**EFFECTIVENESS DATE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CENTRAL SECURITIES CORP
- **CENTRAL INDEX KEY:** 0000018748

**ORGANIZATION NAME:**
- **EIN:** 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:** 26906921

**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

**CENTRAL SECURITIES CORPORATION**

**_________**

**INTERIM REPORT TO STOCKHOLDERS**

**AS OF MARCH 31, 2026**

[2]

*To the Stockholders of*

Central Securities Corporation:

Financial data for the quarter ended March 31, 2026 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:

---

| | | | |
|:---|:---|:---|:---|
|  | Mar. 31, 2026 | Dec. 31, 2025 | Mar. 31, 2025 |
| Net assets  | $1741512380 <br>| $1787876237 <br>| $1575432513 <br>|
| Net assets per share of Common Stock  | $58.94 <br>| $60.50 <br>| $54.46 <br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares of Common Stock outstanding  | 29549265 | 29549265 | 28927937 |

---

Comparative operating results are as follows:

---

| | | |
|:---|:---|:---|
|  | Three months ended March 31, | Three months ended March 31, |
|  | <u><u>2026</u></u> | <u><u>2025</u></u> |
| Net investment income  | $22263613 <br>| $11469777 <br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Per share of Common Stock  | .75<br> \* | .40<br> \* |
| Net realized gain on sale of investments  | 39683302 | 20771353 |
| Decrease in net unrealized appreciation of investments  | (108310772) | (26401032) |
| Increase (decrease) in net assets resulting from operations  | (46363857) | 5840098 |

---

------

\* Per-share data are based on the average number of Common shares outstanding during the three-month period.

We are pleased to report that at the Corporation's annual meeting on April 8, 2026, the stockholders elected seven directors and ratified the selection of KPMG LLP as auditors of the Corporation for the year ending December 31, 2026.

During the quarter ended March 31, 2026, the Corporation did not purchase any shares of its Common Stock. 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

630 Fifth Avenue

New York, NY 10111

April 8, 2026

[3]

PRINCIPAL PORTFOLIO CHANGES

January 1 to March 31, 2026

(Common Stock unless specified otherwise)

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | Additions | Reductions | Held <br>March 31, 2026 |
| Alphabet Inc. Class A. |  | 20000 | 400000 |
| Analog Devices, Inc.  |  | 10000 | 350000 |
| AON plc Class A  |  | 20000 | 80000 |
| Arthur J. Gallagher & Co.  | 30000 |  | 135000 |
| Capital One Financial Corporation  | 15000 |  | 350000 |
| The Charles Schwab Corporation |  | 100000 | 700000 |
| Coherent Corp. |  | 150000 |  |
| Equifax Inc.  | 100000 |  | 100000 |
| Johnson & Johnson  |  | 10000 | 70000 |
| Mercadolibre, Inc.  | 2500 |  | 15500 |
| TWFG, Inc.  | 25000 |  | 500000 |

---

TEN LARGEST INVESTMENTS

March 31, 2026

(excluding short-term investments)

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Cost | Value | Percent of Net Assets | Year First Acquired |
|  | (millions) | (millions) |  |  |
| The Plymouth Rock Company, Inc. Class A  | $0.7 <br>| $420.6 <br>| 24.2% | 1982 |
| Alphabet Inc. Class A  | 17.8 | 115.0 | 6.6 | 2015 |
| Analog Devices, Inc.  | 1.5 | 111.3 | 6.4 | 1987 |
| Progressive Corporation  | 22.7 | 79.3 | 4.6 | 2015 |
| The Charles Schwab Corporation  | 25.7 | 65.8 | 3.8 | 2016 |
| Capital One Financial Corporation  | 27.1 | 63.9 | 3.7 | 2013 |
| Motorola Solutions, Inc.  | 5.5 | 60.8 | 3.5 | 2000 |
| Keysight Technologies, Inc.  | 2.3 | 56.5 | 3.2 | 2005 |
| Amazon.com, Inc.  | 10.1 | 54.2 | 3.1 | 2014 |
| Chevron Corporation  | 10.1 | 53.0 | 3.0 | 2017 |

---

[4]

BOARD OF DIRECTORS

Wilmot H. Kidd, Chairman

L. Price Blackford, Lead Independent Director

Simms C. Browning

Donald G. Calder

John C. Hill

Wilmot H. Kidd IV

David M. Poppe

OFFICERS

John C. Hill, Chief Executive Officer and President

Marlene A. Krumholz, Vice President and Secretary

Joseph T. Malone, Vice President and Treasurer

Jacob C. Wheelock, Vice President

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

JPMorgan Chase Bank, National Association

New York, NY

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

KPMG LLP

New York, NY