UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 13F

                               FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: December 31, 2003

Check here if amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     Central Securities Corporation
Address:  375 Park Avenue
          New York, New York 10152

13F File Number:  28-6578

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:    Marlene A. Krumholz
Title:   Secretary
Phone:   212-688-3011
Signature, Place, and Date of Signing:

/s/ Marlene A. Krumholz      New York, New York     February 6, 2004

Report Type (Check only one.):

[X]     13F HOLDINGS REPORT.

[ ]     13F NOTICE.

[ ]     13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:

None

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.




                              FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:             0

Form 13F Information Table Entry Total:       39

Form 13F Information Table Value Total:  384,433

List of Other Included Managers:

None




                           FORM 13F INFORMATION TABLE



                                                         VALUE    SHARES/  SH/  PUT/  INVSMT     OTHER            VOTING AUTHORITY
    NAME OF ISSUER         TITLE OF CLASS     CUSIP     (x$1000)  PRN AMT  PRN  CALL  DSCRETN   MANAGERS  SOLE    SHARED      NONE
       COLUMN 1               COLUMN 2       COLUMN 3   COLUMN 4           COLUMN 5   COLUMN 6  COLUMN 7          COLUMN 8
====================================================================================================================================
                                                                                                     
ACCENTURE LTD                  COMMON       G115OG 11 1    7370     280000     SH         SOLE             280000     0         0
AFFYMETRIX, INC.               COMMON       00826T 10 8    2461     100000     SH         SOLE             100000     0         0
AMERICAN INTERNATIONAL
  GROUP, INC.                  COMMON       026874 10 7    9942     150000     SH         SOLE             150000     0         0
AMERICAN  MGMT  SYSTEMS INC.   COMMON       027352 10 3   24430    1620000     SH         SOLE            1620000     0         0
ANALOG DEVICES, INC.           COMMON       032654 10 5   20999     460000     SH         SOLE             460000     0         0
APPLE COMPUTER INC.            COMMON       037833 10 0    2137     100000     SH         SOLE             100000     0         0
ARCH CAPITAL GROUP LTD.        COMMON       G0450A 10 5    3986     100000     SH         SOLE             100000     0         0
ARVINMERITOR, INC.             COMMON       043353 10 1   16884     700000     SH         SOLE             700000     0         0
BANK OF NEW YORK CO., INC.     COMMON       064057 10 2   18547     560000     SH         SOLE             560000     0         0
BRADY CORPORATION              CLASS A      104674 10 6   20986     515000     SH         SOLE             515000     0         0
CAPITAL ONE FINANCIAL CORP.    COMMON       14040H 10 5   26355     430000     SH         SOLE             430000     0         0
CARMAX, INC.                   COMMON       143130 10 2    3093     100000     SH         SOLE             100000     0         0
CINCINNATI BELL INC.           COMMON       171871 10 6    5050    1000000     SH         SOLE            1000000     0         0
CONVERGYS CORPORATION          COMMON       212485 10 6   17460    1000000     SH         SOLE            1000000     0         0
DOVER CORPORATION              COMMON       260003 10 8    6757     170000     SH         SOLE             170000     0         0
ENCANA CORP.                   COMMON       292505 10 4    6310     160000     SH         SOLE             160000     0         0
ERIE INDEMNITY COMPANY         CLASS A      29530P 10 2     424      10000     SH         SOLE              10000     0         0
FLEETBOSTON FINANCIAL CORP.    COMMON       339030 10 8    4365     100000     SH         SOLE             100000     0         0
FLEXTRONICS INT'L. LTD.        COMMON       Y2573F 10 2   17908    1210000     SH         SOLE            1210000     0         0
IMPATH, INC.                   COMMON       45255G 10 1    1911     490000     SH         SOLE             490000     0         0
INGRAM MICRO INC.              CLASS A      457153 10 4    2862     180000     SH         SOLE             180000     0         0
INTEL CORPORATION              COMMON       458140 10 0   31409     980000     SH         SOLE             980000     0         0
KERR-MCGEE CORPORATION         COMMON       492386 10 7   10228     220000     SH         SOLE             220000     0         0
LABORATORY CORPORATION OF
  AMERICA HOLDINGS             COMMON       50540R 40 9    4065     110000     SH         SOLE             110000     0         0
MARSH & MCLENNAN
  COMPANIES, INC.              COMMON       571748 10 2    4789     100000     SH         SOLE             100000     0         0
MERCK & CO., INC.              COMMON       589331 10 7    4620     100000     SH         SOLE             100000     0         0
MOTOROLA, INC.                 COMMON       620076 10 9    4620     330000     SH         SOLE             330000     0         0
MURPHY OIL CORPORATION         COMMON       626717 10 2   19593     300000     SH         SOLE             300000     0         0
POLYONE CORPORATION            COMMON       73179P 10 6    8770    1372400     SH         SOLE            1372400     0         0
ROHM AND HAAS COMPANY          COMMON       775371 10 7    8542     200000     SH         SOLE             200000     0         0
ROPER INDUSTRIES, INC.         COMMON       776696 10 6    6143     124700     SH         SOLE             124700     0         0
SCHERING-PLOUGH CORP.          COMMON       806605 10 1    7825     450000     SH         SOLE             450000     0         0
SOLECTRON CORPORATION          COMMON       834182 10 7    4728     800000     SH         SOLE             800000     0         0
SUNGARD DATA SYSTEMS INC.      COMMON       867363 10 3   16349     590000     SH         SOLE             590000     0         0
TRANSPORT CORP OF AMERICA      COMMON       89385P 10 2    3870     533757     SH         SOLE             533757     0         0
THE TRIZETTO GROUP, INC.       COMMON       896882 10 7    6450    1000000     SH         SOLE            1000000     0         0
UNISYS CORPORATION             COMMON       909214 10 8   17077    1150000     SH         SOLE            1150000     0         0
VICAL INCORPORATED             COMMON       925602 10 4     738     150000     SH         SOLE             150000     0         0
WIND RIVER SYSTEMS, INC.       COMMON       973149 10 7    4380     500000     SH         SOLE             500000     0         0