Corbyn Investment Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), Corbyn Investment Management Inc. reported 52 stock positions worth $220.0 million. Its top holding was Emcor (EME) at 9.7% of the portfolio, followed by Republic Services (RSG, 9.2%) and MYR Group Inc./Delaware (MYRG, 7.0%). Compared with Q2 2025, it opened 1 new position, sold out of 4, added to 5 and reduced 38. The biggest buy was Roper Technologies (ROP, shares +160%) and the biggest sale Primo Brands (PRMB, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Lutherville, MD
- CIK
- 0000919538
- Portfolio Value
- $220.0M (Q3 2025)
- SEC Filing
- 0001999371-25-015845 ↗ filed Oct 22, 2025
Holdings Value
Holdings 52 stocks · $220.0M
| EME Emcor Group Inc. | 9.71% | 32,882 | $21.4M | Reduce -12.4% |
| RSG Republic Services Inc. | 9.16% | 87,815 | $20.2M | Reduce -1.3% |
| MYRG MYR Group Inc./Delaware | 7.03% | 74,346 | $15.5M | Reduce -7.5% |
| KBR KBR Inc. | 6.09% | 283,369 | $13.4M | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 4.94% | 44,626 | $10.9M | Reduce -7.1% |
| JCI Johnson Controls Internation | 4.74% | 94,871 | $10.4M | Reduce -1.3% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 4.47% | 128,223 | $9.8M | Reduce -1.3% |
| PRMB Primo Brands Corp. | 3.64% | 362,753 | $8.0M | Reduce -1.1% |
| DD Dupont DE Nemours Inc. | 3.01% | 84,927 | $6.6M | Reduce -1.4% |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 2.79% | 82,948 | $6.1M | Reduce -1.4% |
| TMUS T-Mobile US Inc. | 2.15% | 19,761 | $4.7M | Reduce -1.6% |
| EOG EOG Resources Inc. | 2.10% | 41,153 | $4.6M | Reduce -0.9% |
| ALIT Alight Inc. Class A | 2.10% | 1,414,825 | $4.6M | Add +55.6% |
| AMZN Amazon.com Inc. | 2.07% | 20,753 | $4.6M | Reduce -1.9% |
| V Visa Inc. Class A | 1.99% | 12,847 | $4.4M | Reduce -2.4% |
| FLEX Flex Ltd. | 1.92% | 72,698 | $4.2M | Reduce -2.9% |
| ZD Ziff Davis Inc. | 1.90% | 109,870 | $4.2M | Reduce -18.8% |
| NEE Nextera Energy Inc. | 1.75% | 51,101 | $3.9M | Reduce -2.3% |
| CB Chubb Ltd. | 1.69% | 13,211 | $3.7M | Reduce -3.0% |
| MDT Medtronic PLC | 1.65% | 38,146 | $3.6M | Reduce -1.2% |
| EMR Emerson Electric Co. | 1.59% | 26,602 | $3.5M | Reduce -1.3% |
| AMH American Homes 4 Rent- A | 1.49% | 98,399 | $3.3M | Reduce -1.5% |
| KVUE Kenvue Inc. | 1.45% | 197,193 | $3.2M | Add +12.1% |
| ZBH Zimmer Biomet Holdings Inc. | 1.45% | 32,420 | $3.2M | Reduce -1.9% |
| LEVI Levi Strauss & Co. Class A | 1.42% | 134,551 | $3.1M | Reduce -42.3% |
| DOX Amdocs Ltd. | 1.41% | 37,900 | $3.1M | Reduce -1.2% |
| BLKB Blackbaud Inc. | 1.41% | 48,167 | $3.1M | Reduce -2.9% |
| FRST Primis Financial Corp. | 1.32% | 276,001 | $2.9M | Reduce -5.2% |
| SHBI Shore Bancshares Inc. | 1.16% | 155,239 | $2.5M | Reduce -1.4% |
| NVT Nvent Electric PLC | 1.02% | 22,747 | $2.2M | Reduce -0.2% |
| WMS Advanced Drainage Systems Inc. | 0.98% | 15,500 | $2.1M | Reduce -4.3% |
| WH Wyndham Hotels & Resorts Inc. | 0.87% | 24,087 | $1.9M | Reduce -1.9% |
| MTX Minerals Technologies Inc. | 0.86% | 30,438 | $1.9M | No change |
| USFD US Foods Holding Corp. | 0.86% | 24,613 | $1.9M | No change |
| WSFS WSFS Financial Corp. | 0.83% | 33,685 | $1.8M | No change |
| CDRE Cadre Holdings Inc. | 0.81% | 49,001 | $1.8M | Add +15.4% |
| SHW The Sherwin-Williams Co. | 0.67% | 4,273 | $1.5M | Reduce -2.3% |
| RUSHA Rush Enterprises Inc. Class A | 0.66% | 27,050 | $1.4M | Reduce -3.6% |
| ABT Abbott Laboratories | 0.63% | 10,324 | $1.4M | Reduce -0.5% |
| ROP Roper Technologies Inc. | 0.59% | 2,599 | $1.3M | Add +159.6% |
| UPS United Parcel Service Class B | 0.53% | 14,000 | $1.2M | Reduce -0.8% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.51% | 13,289 | $1.1M | No change |
| AKAM Akamai Technologies Inc. | 0.47% | 13,650 | $1.0M | Reduce -3.9% |
| CNNE Cannae Holdings Inc. | 0.45% | 54,598 | $1000K | Add +78.4% |
| RUSHB Rush Enterprises Inc. Class B | 0.45% | 17,328 | $995K | No change |
| OCFC Oceanfirst Financial Corp. | 0.24% | 30,012 | $527K | No change |
| PSX Phillips 66 | 0.21% | 3,441 | $468K | No change |
| AVGO Broadcom Inc. | 0.20% | 1,348 | $445K | Reduce -4.2% |
| VGT Vanguard Info Tech ETF | 0.19% | 547 | $408K | Reduce -20.9% |
| MSFT Microsoft Corp. | 0.16% | 680 | $352K | No change |
| SHLS Shoals Technologies Group -A | 0.12% | 34,500 | $256K | Reduce -32.0% |
| JPM JPMorgan Chase & Co. | 0.09% | 655 | $207K | New |
Other holdings (15): bonds, preferreds, convertibles and warrants · $121.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 15,730,000 | $15.4M | Add +0.2% |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 15,354,000 | $15.2M | Reduce -0.5% |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 14,393,000 | $13.8M | Reduce -1.2% |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 12,608,000 | $12.5M | Add +20.6% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 12,486,000 | $11.9M | New |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 11,938,000 | $11.0M | Add +8.8% |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 10,731,000 | $10.5M | New |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 11,511,000 | $9.8M | New |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | 6,864,000 | $6.3M | Reduce -1.6% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 4,964,000 | $4.9M | New |
| XPLR INFRASTRUCTURE LP (XIFR 0 11/15/25) | 0 15/11/2025 · principal | 4,500,000 | $4.5M | New |
| LUCID GROUP INC (LCID 1.25 12/15/26) | 1.250 12/15/26 CVT · principal | 3,000,000 | $2.8M | New |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | 1,500,000 | $1.5M | New |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 814,000 | $796K | Add +9.1% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 526,000 | $495K | Reduce -90.6% |
Total filed on the 13F, all lines: $341.5M.
Portfolio Sells Q2 2025 → Q3 2025
| PRMB Primo Brands Corp. | Reduce -1.1% | 3.64% | −1.27 |
| TFX Teleflex Inc. | Sold out | 0.00% | −0.94 |
| RSG Republic Services Inc. | Reduce -1.3% | 9.16% | −0.76 |
| LEVI Levi Strauss & Co. Class A | Reduce -42.3% | 1.42% | −0.53 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.28 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.22 |
| DOX Amdocs Ltd. | Reduce -1.2% | 1.41% | −0.17 |
| EOG EOG Resources Inc. | Reduce -0.9% | 2.10% | −0.15 |
| AMH American Homes 4 Rent- A | Reduce -1.5% | 1.49% | −0.14 |
| V Visa Inc. Class A | Reduce -2.4% | 1.99% | −0.12 |
| UPS United Parcel Service Class B | Reduce -0.8% | 0.53% | −0.11 |
| FRST Primis Financial Corp. | Reduce -5.2% | 1.32% | −0.11 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −0.10 |
| KBR KBR Inc. | Reduce -0.8% | 6.09% | −0.10 |
| CB Chubb Ltd. | Reduce -3.0% | 1.69% | −0.09 |
| AKAM Akamai Technologies Inc. | Reduce -3.9% | 0.47% | −0.04 |
| EMR Emerson Electric Co. | Reduce -1.3% | 1.59% | −0.04 |
| BLKB Blackbaud Inc. | Reduce -2.9% | 1.41% | −0.03 |
| WH Wyndham Hotels & Resorts Inc. | Reduce -1.9% | 0.87% | −0.03 |
| AMZN Amazon.com Inc. | Reduce -1.9% | 2.07% | −0.03 |
| VGT Vanguard Info Tech ETF | Reduce -20.9% | 0.19% | −0.02 |
| TMUS T-Mobile US Inc. | Reduce -1.6% | 2.15% | −0.01 |
| ABT Abbott Laboratories | Reduce -0.5% | 0.63% | −0.01 |
| SHW The Sherwin-Williams Co. | Reduce -2.3% | 0.67% | −0.01 |
| RUSHA Rush Enterprises Inc. Class A | Reduce -3.6% | 0.66% | +0.00 |
| SHLS Shoals Technologies Group -A | Reduce -32.0% | 0.12% | +0.02 |
| AVGO Broadcom Inc. | Reduce -4.2% | 0.20% | +0.03 |
| SHBI Shore Bancshares Inc. | Reduce -1.4% | 1.16% | +0.04 |
| ZD Ziff Davis Inc. | Reduce -18.8% | 1.90% | +0.05 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -1.9% | 1.45% | +0.09 |
| NEE Nextera Energy Inc. | Reduce -2.3% | 1.75% | +0.11 |
| MDT Medtronic PLC | Reduce -1.2% | 1.65% | +0.13 |
| WMS Advanced Drainage Systems Inc. | Reduce -4.3% | 0.98% | +0.14 |
| JCI Johnson Controls Internation | Reduce -1.3% | 4.74% | +0.15 |
| WRB WR Berkley Corp. | Reduce -1.3% | 4.47% | +0.15 |
| FLEX Flex Ltd. | Reduce -2.9% | 1.92% | +0.23 |
| NVT Nvent Electric PLC | Reduce -0.2% | 1.02% | +0.27 |
| DD Dupont DE Nemours Inc. | Reduce -1.4% | 3.01% | +0.34 |
| MYRG MYR Group Inc./Delaware | Reduce -7.5% | 7.03% | +0.44 |
| EME Emcor Group Inc. | Reduce -12.4% | 9.71% | +0.63 |
| NXT Nextpower Inc. | Reduce -1.4% | 2.79% | +0.72 |
| GOOG Alphabet Inc. Class C | Reduce -7.1% | 4.94% | +1.09 |
Portfolio Buys Q2 2025 → Q3 2025
Notes & Other Activity Q2 2025 → Q3 2025
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | Add +0.2% | 15,730,000 | $15.4M |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | Reduce -0.5% | 15,354,000 | $15.2M |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Reduce -1.2% | 14,393,000 | $13.8M |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | Add +20.6% | 12,608,000 | $12.5M |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | New | 12,486,000 | $11.9M |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | Add +8.8% | 11,938,000 | $11.0M |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | New | 10,731,000 | $10.5M |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | New | 11,511,000 | $9.8M |
| SNAP INC (SNAP 0 05/01/27) | NOTE 5/0 · principal | Reduce -1.6% | 6,864,000 | $6.3M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | New | 4,964,000 | $4.9M |
| XPLR INFRASTRUCTURE LP (XIFR 0 11/15/25) | 0 15/11/2025 · principal | New | 4,500,000 | $4.5M |
| LUCID GROUP INC (LCID 1.25 12/15/26) | 1.250 12/15/26 CVT · principal | New | 3,000,000 | $2.8M |
| PENNYMAC CORP (PMT 8.5 06/01/29) | NOTE 8.500% 6/0 · principal | New | 1,500,000 | $1.5M |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | Add +9.1% | 814,000 | $796K |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Reduce -90.6% | 526,000 | $495K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 53 | $247.7M | MYRG, EME, RSG, GOOG, JCI |
| Q1 2026 | 51 | $213.7M | EME, RSG, MYRG, JCI, GOOG |
| Q4 2025 | 54 | $212.0M | EME, RSG, MYRG, GOOG, KBR |
| Q3 2025 | 52 | $220.0M | EME, RSG, MYRG, KBR, GOOG |
| Q2 2025 | 55 | $221.2M | RSG, EME, MYRG, KBR, PRMB |
| Q1 2025 | 56 | $214.3M | RSG, KBR, EME, PRMB, WRB |
| Q4 2024 | 60 | $225.5M | RSG, EME, KBR, MYRG, PRMB |
| Q3 2024 | 60 | $226.1M | RSG, KBR, EME, JCI, PRMW |
| Q2 2024 | 60 | $217.5M | RSG, KBR, EME, MYRG, GOOG |
| Q1 2024 | 60 | $225.6M | RSG, KBR, EME, MYRG, GOOG |