13F-HR/A 1 form13f33103.txt Form 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: March 31, 2003 Check here if Amendment [x]; Amendment Number: 29 This Amendment (Check only one): [x] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Corbyn Investment Management, Inc. Address: Suite 108 2330 W. Joppa Rd. Lutherville, MD 21093 13F File Number: 28-4242 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 submission. Person Signing this Report on Behalf of Reporting Manager: Name: Karla K. Moore Title: Corporate Secretary Phone: 410-832-5500 Signature, Place and Date of Signing: Karla K. Moore Lutherville, MD May 6, 2003 Report Type (Check only one): [X] 13F Holdings Report. [ ] 13F Notice. [ ] 13F Combination Report. List of Other Managers Reporting for this Manager: 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: 51 Form 13F Information Table Value Total: $145,347 List of Other Included Managers: NONE Name of Issuer Title of Class CUSIP Value Shrs or SH/PRN Put/ Investment Other Voting Authority Prn Amt Call Discretion Managers Sole Shared None Alfa Corp. Com 015385107 201 17,200 SH SOLE 17,200 Baker Michael Corp Com 057149106 2,634 305,587 SH SOLE 305,587 Bostonfed Bancorp Com 101178101 533 23,331 SH SOLE 23,331 Burlington Res Inc. Com 122014103 1,411 29,580 SH SOLE 29,580 Chesapeake Utilities Com 165303108 193 10,275 SH SOLE 10,275 CIT Group Com 125581108 1,342 79,575 SH SOLE 79,575 Columbia Bankcorp Com 197227101 294 12,000 SH SOLE 12,000 EOG Res Inc. Com 26875P101 1,840 46,522 SH SOLE 46,522 Emcor Group Com 29084Q100 6,123 126,895 SH SOLE 126,895 Emerson Elec Co. Com 291011104 1,668 36,785 SH SOLE 36,785 Farge Electronics Com 30744P102 2,260 221,600 SH SOLE 221,600 Federal Signal Com 313855108 1,208 85,100 SH SOLE 85,100 Griffon Corp. Com 398433102 1,437 111,400 SH SOLE 111,400 Insituform Tech CLA 457667103 4,364 324,450 SH SOLE 324,450 John Hancock Bk SHBENINT 409735107 2,060 294,225 SH SOLE 294,225 Middleby Com 596278101 6,299 570,600 SH SOLE 570,600 Nabi Biopharmac Com 629519109 5,216 869,250 SH SOLE 869,250 NiSource Inc. Com 65473P105 3,175 174,475 SH SOLE 174,475 PartnerRe Holdings Com G6852T105 6,167 122,723 SH SOLE 122,723 PFF Bancorp Com 69331W104 1,322 41,200 SH SOLE 41,200 PPL Corporation Com 69351T106 6,939 194,850 SH SOLE 194,850 Pentair Com 709631105 353 10,000 SH SOLE 10,000 Provident Bankshares Com 743859100 231 10,000 SH SOLE 10,000 Resource Bankshares Com 76121R104 248 11,000 SH SOLE 11,000 SCS Transn Com 81111T102 298 28,200 SH SOLE 28,200 Southern Finl Bancorp Com 842870107 755 25,299 SH SOLE 25,299 SunTrust Bks Com 867914103 2,455 46,625 SH SOLE 46,625 Tredegar Corp. Com 894650100 342 28,600 SH SOLE 28,600 Urstadt Biddle Pptys CLA 917286205 899 75,000 SH SOLE 75,000 Washington Mutual Com 939322103 3,672 104,102 SH SOLE 104,102 Waste Industries Com 941057101 1,440 227,500 SH SOLE 227,500 Yardville Nat'l Com 985021104 1,224 71,950 SH SOLE 71,950 Adaptec Note 4.75 2/0 00651FAC2 3,652 3,652,000 PRN SOLE 3,652,000 Ameritrade Hldg Note 5.75 8/0 03072HAB5 485 500,000 PRN SOLE 500,000 Arbor Software Note 4.5 3/1 038918AC2 7,218 7,319,000 PRN SOLE 7,319,000 Atmel Corp. SDCV 4/2 049513AC8 1,078 2,441,000 PRN SOLE 2,441,000 Avaya Note 10/3 053499AA7 2,029 4,488,000 PRN SOLE 4,488,000 Calpine Note 4.0 12/2 131347BA3 1,330 2,000,000 PRN SOLE 2,000,000 Ciena Corp. Note 3.75 2/0 171779AA9 2,340 3,122,000 PRN SOLE 3,122,000 Citrix Systems SDCV 3/2 177376AB6 4,451 10,090,000 PRN SOLE 10,090,000 Corning DBCV 11/0 219350AJ4 4,038 5,909,000 PRN SOLE 5,909,000 Curagen Corp SDCV 6.0 2/0 23126RAC5 6,380 9,053,000 PRN SOLE 9,053,000 LSI LOgic Note 4.25 3/1 502161AD4 4,181 4,232,000 PRN SOLE 4,232,000 ONI Systems Note 5.0 10/1 68273FAA1 5,377 5,693,000 PRN SOLE 5,693,000 Quanta Svcs Note 4.0 7/0 74762EAA0 5,925 8,448,000 PRN SOLE 8,448,000 Sepracor SDCV 7.0 12/1 817315AH7 10,392 11,483,000 PRN SOLE 11,483,000 Shaw Group Note 5/0 820280AC9 12,365 19,443,000 PRN SOLE 19,443,000 Solectron Corp. Note 5/0 834182AK3 488 786,000 PRN SOLE 786,000 TranSwitch Note 4.5 9/1 894065AB7 1,958 3,295,000 PRN SOLE 3,295,000 Vishay Inter Tech Note 6/0 928298AD0 1,964 3,500,000 PRN SOLE 3,500,000 WMX Technologies Note 2.0 1/2 92929QAF4 1,093 1,157,000 PRN SOLE 1,157,000