United States
Securities and Exchange Commission
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-00179

Central Securities Corporation
(Exact name of registrant as specified in charter)
630 Fifth Avenue, Suite 820
New York, N.Y. 10111
(Address of principal executive offices)

Registrant’s telephone number including area code: 212-698-2020

Date of fiscal year end: December 31
Date of reporting period: March 31, 2010

Item 1. Schedule of Investments.

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CENTRAL SECURITIES CORPORATION
Statement of Investments
March 31, 2010
(Unaudited)

COMMON STOCKS 97.5%

Prin.Amt. or Shares				Value
		Banking and Finance 5.7%
675,000			The Bank of New York Mellon Corporation	$	20,844,000
237,700			Home Federal Bancorp, Inc.		3,449,027
100,000			JPMorgan Chase & Co.		4,475,000
310,100			NewStar Financial, Inc. (a)		1,978,438
					30,746,465
		Capital Goods 14.7%
750,000			Brady Corporation Class A		23,340,000
200,000			Carlisle Companies Inc.		7,620,000
390,000			Dover Corporation		18,232,500
200,000			General Electric Company		3,640,000
100,000			Precision Castparts Corporation		12,671,000
230,000			Roper Industries, Inc.		13,303,200
					78,806,700
		Commercial Services 0.2%
100,000			Heritage-Crystal Clean Inc. (a)		1,130,000
		Energy 9.5%
100,000			Cenovus Energy Inc.		2,621,000
200,000			Devon Energy Corporation		12,886,000
100,000			EnCana Corporation		3,103,000
2,000,000			GeoMet, Inc. (a)(b)		1,780,000
660,000			McMoRan Exploration Co. (a)		9,655,800
290,000			Murphy Oil Corporation		16,295,100
200,000			Nexen Inc.		4,942,000
					51,282,900
		Health Care 3.4%
120,000			Abbott Laboratories		6,321,600
100,000			Johnson & Johnson		6,520,000
100,000			Medtronic, Inc.		4,503,000
260,000			Vical Inc. (a)		865,800
					18,210,400
		Insurance 30.1%
10,000			Erie Indemnity Company Class A		431,300
70,000			The Plymouth Rock Company, Inc.
			Class A (b)(d)		161,000,000
					161,431,300
		Retailing 1.6%
28,751			Aerogroup International, Inc. (a)(d)		324,886
230,000			Walgreen Co.		8,530,700
					8,855,586

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Prin. Amt. or Shares				Value
		Semiconductor and Semiconductor Equipment 8.2%
500,000			Analog Devices, Inc.	$	14,410,000
500,000			CEVA, Inc. (a)		5,830,000
810,000			Intel Corporation		18,054,900
300,000			Maxim Integrated Products, Inc.		5,817,000
					44,111,900
		Software and Services 5.7%
1,700,000			Convergys Corporation (a)		20,842,000
990,000			Xerox Corporation		9,652,500
					30,494,500
		Technology Hardware and Equipment 15.8%
920,000			Agilent Technologies, Inc. (a)		31,638,800
831,000			Coherent, Inc. (a)		26,558,760
630,000			Flextronics International Inc. (a)		4,939,200
350,000			Motorola, Inc.(a)		2,457,000
1,184,800			RadiSys Corporation (a)		10,615,808
3,230,000			Sonus Networks, Inc. (a)		8,494,900
					84,704,468
		Telecommunication Services 2.6%
1,000,000			Arbinet Corporation (a)		2,036,500
200,000			AT&T Inc.		5,168,000
280,000			Vodafone Group Plc		6,526,800
					13,731,300
			Total Common Stocks (cost $297,860,630)(e)		523,505,519
		SHORT-TERM INVESTMENTS 2.4%
		Money Market Fund 0.5%
2,875,935			Fidelity Institutional Money Market Government Portfolio		2,875,935
		U.S. Treasury Obligations 1.9%
10,000,000			U.S. Treasury Bill 0.11% due 5/13/10 (c)		9,998,740
			Total Short-Term Investments (cost $12,874,675)(e)		12,874,675
			Total Investments (cost $310,735,305)(e)(99.9%)		536,380,194
			Cash, receivables and other assetsless liabilities (0.1%)		531,802
			Net Assets (100%)	$	536,911,996

(a)	Non-dividend paying.
(b)	Affiliate as defined in the Investment Company Act of 1940.
(c)	Valued based on Level 2 Inputs. See Note 2.
(d)	Valued based on Level 3 Inputs – See Note 2.
(e)	Aggregate cost for Federal tax purposes is substantially the same.

See accompanying notes to statement of investments.

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CENTRAL SECURITIES CORPORATION
NOTES TO STATEMENT OF INVESTMENTS

1. Security Valuation – Marketable securities are valued at the last or closing sale price or, if unavailable, at the closing bid price. Investments in money market funds are valued at net asset value per share. Other short-term investments are valued at amortized cost, which approximates market value. Securities for which no ready market exists are valued at estimated fair value by the Board of Directors.

As of March 31, 2010, the tax cost of investments was $310,735,305. Net unrealized appreciation was $225,644,889 consisting of gross unrealized appreciation and gross unrealized depreciation of $268,963,986 and $43,319,097, respectively.

2. Fair Value Measurements – The Corporation’s investments are categorized below in three broad hierarchical levels based on market price observability as follows:

• Level 1 – Quoted prices in active markets for identical investments. The Corporation’s Level 1 investments consist of equity securities listed on a national securities exchange and money market funds;

• Level 2 – Other significant observable assumptions obtained from independent sources, for example, quoted prices for similar investments or the use of models or other valuation methodologies. The Corporation’s Level 2 investments consist of short-term investments carried at amortized cost;

• Level 3 – Significant unobservable inputs including the Corporation’s own assumptions based upon the best information available. Investments categorized as Level 3 include situations in which there is little, if any, market activity. The Corporation’s Level 3 investments consist of The Plymouth Rock Company, Inc. and Aerogroup International, Inc.

The inputs used for valuing securities and the resulting Levels are not necessarily an indication of the risk associated with investing in those securities.

The Corporation’s investments as of March 31, 2010 are classified as follows:

The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

No Level 3 investments were purchased, sold or transferred to Level 1 or Level 2 during the three months ended March 31, 2010, therefore the above change in unrealized appreciation of investments relates to assets held as of March 31, 2010. The Corporation’s Level 3 investments are valued by the Board of Directors. This valuation is primarily based on a comparable company valuation analysis and a review of independent appraisals. Consideration is also given to corporate governance, recent private transactions, company and industry outlooks and general market conditions. The determination of fair value involves subjective judgments. As a result, using fair value to price a security may result in a price materially different from the price used by other investors or the price that may be realized upon the actual sale of the security.

3. Restricted Securities - The Corporation from time to time invests in securities the resale of which is restricted. On March 31, 2010, such investments had an aggregate value of $161,324,886, which was equal to 30.0% of the Corporation’s net assets. Investments in restricted securities at March 31, 2010, including acquisition dates and cost were:

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Company		Shares		Security		Date Acquired		Cost
AeroGroup International, Inc.		28,751		Common Stock		6/14/05		$	17,200
The Plymouth Rock Company, Inc.		60,000		Class A Common Stock		12/15/82			1,500,000
The Plymouth Rock Company, Inc.		10,000		Class A Common Stock		6/9/84			699,986

The Corporation does not have the right to demand registration of the restricted securities.

Item 2. Controls and Procedures.

(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers have concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.
(a) Certifications.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

CENTRAL SECURITIES CORPORATION

By:	/s/ Wilmot H. Kidd
	President
Date: April 28, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Wilmot H. Kidd
	President
Date: April 28, 2010
By:	/s/ Charles N. Edgerton
	Vice President and Treasurer
Date: April 28, 2010

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