Central Securities CORP: directors' dealings · United States · SEC (Form 4)

About Central Securities CORP

Central Securities Corporation (NYSE American: CET) is a U.S.-based closed-end management investment company headquartered in New York, United States. Organized on October 1, 1929, it is one of the longer-standing listed investment companies in the U.S. market. For French-speaking investors, CET should be viewed less as an operating business and more as a publicly traded capital-allocation vehicle with a long-term ownership philosophy. The company’s stated objective is long-term capital growth; income is a secondary consideration. Central Securities primarily invests in equity securities that it believes are undervalued at the time of purchase, while maintaining flexibility to hold cash and, when appropriate, other securities. Its investment approach treats shares as ownership interests in businesses and emphasizes buying when price is low relative to enterprise value. This value-oriented, concentrated style differentiates CET from broad-market diversified funds and from passive index products. Operationally, Central Securities does not manufacture products or provide services in the conventional sense. Its core activity is portfolio management and capital deployment across public and private holdings. The company’s reported top holdings include The Plymouth Rock Company, Alphabet, Analog Devices, Progressive, Charles Schwab, Capital One Financial, Motorola Solutions, Keysight Technologies, Amazon, and Chevron. That mix suggests exposure to financial services, technology, industrial/communications infrastructure, and high-quality U.S. franchise businesses. The portfolio also indicates a willingness to own both mega-cap public equities and a meaningful private-company stake, which is notable for a closed-end fund. The firm is managed internally from New York. John C. Hill serves as Chief Executive Officer, while Wilmot H. Kidd remains Chairman of the Board. Central Securities also maintains a shareholder-friendly distribution framework, typically paying distributions twice a year, with a smaller mid-year payment and a year-end distribution that may be paid in cash or, at shareholder election, in additional shares. For investors in Europe, this makes CET a somewhat distinctive listed vehicle with a long record of distributions, though payout amounts can vary materially from year to year. From a competitive standpoint, CET’s main strengths are its longevity, disciplined value orientation, and concentration in selected holdings rather than broad diversification. It trades on the NYSE American market in the United States, which gives investors direct market access to a long-established closed-end fund structure. Recent company disclosures show a portfolio still anchored in a small number of major positions as of March 31, 2026, alongside continued NAV reporting and regular financial disclosure. Overall, Central Securities remains a conservative, valuation-driven U.S. equity investment vehicle with a patient, long-horizon mandate and an emphasis on capital preservation and compounding over time.