CENTRAL SECURITIES CORP Long-Term Concentrated

CIK: 0000018748 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 10, 2026

Total Value ($000): $1,243,698 (100.0% shares, 0.0% debt)

Holdings (29)

Increased Positions (3)

RYN RAYONIER INC 2.2%

Value ($000) $27,282 (-14.4%) Shares 1,260,130 (+4.9%) Est. Cost $28.90 Unrealized —

TWFG TWFG INC 1.1%

Value ($000) $13,666 (+10.7%) Shares 475,000 (+5.6%) Est. Cost $28.81 Unrealized -5.6%

NKE NIKE INC 2.6%

Value ($000) $31,855 (+1.5%) Shares 500,000 (+11.1%) Est. Cost $72.45 Unrealized -10.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RYN	RAYONIER INC	1,260,130 (+4.9%)	$27,282 (-14.4%)	2.2%	$28.90	—	Common	754907103
TWFG	TWFG INC	475,000 (+5.6%)	$13,666 (+10.7%)	1.1%	$28.81	-5.6%	Class A	87318A101
NKE	NIKE INC	500,000 (+11.1%)	$31,855 (+1.5%)	2.6%	$72.45	-10.4%	Common	654106103

Decreased Positions (2)

GOOGL ALPHABET INC 10.6%

Value ($000) $131,460 (+25.8%) Shares 420,000 (-2.3%) Est. Cost $108.03 Unrealized +164.4%

COHR COHERENT CORP 2.2%

Value ($000) $27,686 (+28.5%) Shares 150,000 (-25.0%) Est. Cost $46.05 Unrealized +224.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	420,000 (-2.3%)	$131,460 (+25.8%)	10.6%	$108.03	+164.4%	Class A	02079K305
COHR	COHERENT CORP	150,000 (-25.0%)	$27,686 (+28.5%)	2.2%	$46.05	+224.8%	Common	19247G107

Unchanged Positions (24)

MSI MOTOROLA SOLUTIONS INC 4.3%

Value ($000) $53,665 Shares 140,000 Est. Cost $50.38 Unrealized +695.6%

COF CAPITAL ONE FINL CORP 6.5%

Value ($000) $81,191 Shares 335,000 Est. Cost $67.04 Unrealized +231.4%

ADI ANALOG DEVICES INC 7.9%

Value ($000) $97,632 Shares 360,000 Est. Cost $41.71 Unrealized +500.8%

PGR PROGRESSIVE CORP 7.3%

Value ($000) $91,088 Shares 400,000 Est. Cost $48.43 Unrealized +338.4%

META META PLATFORMS INC 4.8%

Value ($000) $59,408 Shares 90,000 Est. Cost $310.90 Unrealized +114.6%

KEYS KEYSIGHT TECHNOLOGIES INC 3.3%

Value ($000) $40,638 Shares 200,000 Est. Cost $32.07 Unrealized +478.6%

AJG GALLAGHER ARTHUR J & CO 2.2%

Value ($000) $27,173 Shares 105,000 Est. Cost $244.50 Unrealized +8.1%

AXP AMERICAN EXPRESS CO 4.2%

Value ($000) $51,793 Shares 140,000 Est. Cost $80.76 Unrealized +342.0%

TDY TELEDYNE TECHNOLOGIES INC 2.9%

Value ($000) $35,751 Shares 70,000 Est. Cost $418.74 Unrealized +25.8%

MELI MERCADOLIBRE INC 2.1%

Value ($000) $26,185 Shares 13,000 Est. Cost $1403.28 Unrealized +49.7%

SCHW SCHWAB CHARLES CORP 6.4%

Value ($000) $79,928 Shares 800,000 Est. Cost $37.94 Unrealized +149.7%

MRK MERCK & CO INC 1.3%

Value ($000) $15,789 Shares 150,000 Est. Cost $30.02 Unrealized +210.6%

AMZN AMAZON COM INC 4.8%

Value ($000) $60,013 Shares 260,000 Est. Cost $130.82 Unrealized +74.9%

MSFT MICROSOFT CORP 3.1%

Value ($000) $38,690 Shares 80,000 Est. Cost $45.98 Unrealized +988.6%

ROP ROPER TECHNOLOGIES INC 1.8%

Value ($000) $22,257 Shares 50,000 Est. Cost $121.18 Unrealized +281.4%

TSM TAIWAN SEMICONDUCTOR MFG LTD 2.0%

Value ($000) $24,311 Shares 80,000 Est. Cost $279.29 Unrealized —

JNJ JOHNSON & JOHNSON 1.3%

Value ($000) $16,556 Shares 80,000 Est. Cost $78.82 Unrealized +150.0%

JPM JPMORGAN CHASE & CO. 3.6%

Value ($000) $45,111 Shares 140,000 Est. Cost $49.96 Unrealized +519.5%

CVX CHEVRON CORP NEW 3.1%

Value ($000) $39,055 Shares 256,250 Est. Cost $152.28 Unrealized -0.6%

V VISA INC 2.1%

Value ($000) $26,303 Shares 75,000 Est. Cost $240.79 Unrealized +41.4%

WSC WILLSCOT HLDGS CORP 0.3%

Value ($000) $4,237 Shares 225,000 Est. Cost $36.74 Unrealized -45.1%

AON AON PLC 2.8%

Value ($000) $35,288 Shares 100,000 Est. Cost $184.13 Unrealized +89.6%

MDT MEDTRONIC PLC 1.9%

Value ($000) $24,015 Shares 250,000 Est. Cost $68.83 Unrealized +41.1%

BRC BRADY CORP 1.3%

Value ($000) $15,674 Shares 200,000 Est. Cost $23.68 Unrealized +225.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSI	MOTOROLA SOLUTIONS INC	140,000	$53,665	4.3%	$50.38	+695.6%	Common	620076307
COF	CAPITAL ONE FINL CORP	335,000	$81,191	6.5%	$67.04	+231.4%	Common	14040H105
ADI	ANALOG DEVICES INC	360,000	$97,632	7.9%	$41.71	+500.8%	Common	032654105
PGR	PROGRESSIVE CORP	400,000	$91,088	7.3%	$48.43	+338.4%	Common	743315103
META	META PLATFORMS INC	90,000	$59,408	4.8%	$310.90	+114.6%	Class A	30303M102
KEYS	KEYSIGHT TECHNOLOGIES INC	200,000	$40,638	3.3%	$32.07	+478.6%	Common	49338L103
AJG	GALLAGHER ARTHUR J & CO	105,000	$27,173	2.2%	$244.50	+8.1%	Common	363576109
AXP	AMERICAN EXPRESS CO	140,000	$51,793	4.2%	$80.76	+342.0%	Common	025816109
TDY	TELEDYNE TECHNOLOGIES INC	70,000	$35,751	2.9%	$418.74	+25.8%	common	879360105
MELI	MERCADOLIBRE INC	13,000	$26,185	2.1%	$1403.28	+49.7%	Common	58733R102
SCHW	SCHWAB CHARLES CORP	800,000	$79,928	6.4%	$37.94	+149.7%	Common	808513105
MRK	MERCK & CO INC	150,000	$15,789	1.3%	$30.02	+210.6%	Common	58933Y105
AMZN	AMAZON COM INC	260,000	$60,013	4.8%	$130.82	+74.9%	Common	023135106
MSFT	MICROSOFT CORP	80,000	$38,690	3.1%	$45.98	+988.6%	Common	594918104
ROP	ROPER TECHNOLOGIES INC	50,000	$22,257	1.8%	$121.18	+281.4%	Common	776696106
TSM	TAIWAN SEMICONDUCTOR MFG LTD	80,000	$24,311	2.0%	$279.29	—	ADR	874039100
JNJ	JOHNSON & JOHNSON	80,000	$16,556	1.3%	$78.82	+150.0%	Common	478160104
JPM	JPMORGAN CHASE & CO.	140,000	$45,111	3.6%	$49.96	+519.5%	Common	46625H100
CVX	CHEVRON CORP NEW	256,250	$39,055	3.1%	$152.28	-0.6%	Common	166764100
V	VISA INC	75,000	$26,303	2.1%	$240.79	+41.4%	Common Class A	92826C839
WSC	WILLSCOT HLDGS CORP	225,000	$4,237	0.3%	$36.74	-45.1%	Common	971378104
AON	AON PLC	100,000	$35,288	2.8%	$184.13	+89.6%	Class A	G0403H108
MDT	MEDTRONIC PLC	250,000	$24,015	1.9%	$68.83	+41.1%	Common	G5960L103
BRC	BRADY CORP	200,000	$15,674	1.3%	$23.68	+225.7%	Class A	104674106