USA - CET: Excellent Record, 17% Discount, But Yields Less Than 6%
2025-05-11 08:30:00 ET
Summary
- Central Securities Corporation is a closed-end fund with a concentrated portfolio, no leverage, and a focus on long-term capital appreciation.
- CET's semi-annual distributions are variable and primarily paid in December, making it less suitable for income-centric investors.
- Past performance is excellent, especially its long-term performance. However, the income yield is mediocre for a closed-end fund.
Introduction:
Last week, we covered Adams Diversified Equity Fund ( ADX ), which has had a very long history since 1929. This week, we're going to cover another closed-end fund, Central Securities Corporation ( CET ), with an equally long history. We will refer to the company as "Central" or "CET" in the rest of the article....
CET: Excellent Record, 17% Discount, But Yields Less Than 6%