{
  "crd_number": 104716,
  "slug": "corbyn-investment-management-inc-lutherville-md-104716",
  "primary_business_name": "CORBYN INVESTMENT MANAGEMENT INC",
  "legal_name": "CORBYN INVESTMENT MANAGEMENT INC",
  "dbas": [],
  "city": "Lutherville",
  "state": "MD",
  "country": "United States",
  "cbsa_code": "12580",
  "metro": {
    "cbsa_code": "12580",
    "common_name": "Baltimore",
    "msa_name": "Baltimore-Columbia-Towson, MD",
    "path": "/advisors/md/baltimore"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1973-03-09",
  "years_registered": 53,
  "period": "2026-10-01",
  "filing_date": "2026-06-29",
  "carried_forward": false,
  "raum_total": 1005472384.0,
  "raum_discretionary": 1005472384.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 10,
  "advisory_employees": 7,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 721401.0,
      "count": 2,
      "description": "ESTATES"
    },
    "charitable": {
      "raum": 53095445.0,
      "count": 24
    },
    "individuals": {
      "raum": 136193690.0,
      "count": 273
    },
    "insurance_companies": {
      "raum": 849456.0,
      "count": 1
    },
    "investment_companies": {
      "raum": 508189176.0,
      "count": 2
    },
    "pension_profit_sharing": {
      "raum": 4301944.0,
      "count": 4
    },
    "high_net_worth_individuals": {
      "raum": 229966090.0,
      "count": 106
    },
    "corporations_other_businesses": {
      "raum": 72155182.0,
      "count": 32
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "IL",
    "KS",
    "MA",
    "MD",
    "ME",
    "MI",
    "MS",
    "NC",
    "NE",
    "NH",
    "NJ",
    "NY",
    "OH",
    "PA",
    "SC",
    "TN",
    "TX",
    "VA",
    "WA",
    "WI",
    "WY"
  ],
  "websites": [
    "https://corbyn.com",
    "https://greenspringfund.com",
    "https://greenspringfunds.com",
    "https://linkedin.com/company/corbyn-investment-management-inc."
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/104716",
  "city_as_filed": "LUTHERVILLE",
  "url": "https://advisorcensus.com/firm/corbyn-investment-management-inc-lutherville-md-104716",
  "display_name": "Corbyn Investment Management Inc",
  "summary": "Corbyn Investment Management Inc is an SEC-registered investment advisory firm in Lutherville, MD, registered since 1973, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 29, 2026.",
  "citation": "AdvisorCensus. Corbyn Investment Management Inc (CRD 104716): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Corbyn Investment Management Inc compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Corbyn Investment Management Inc reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "Where is Corbyn Investment Management Inc located?",
      "a": "Corbyn Investment Management Inc's principal office is in Lutherville, MD, according to its Form ADV."
    },
    {
      "q": "Is Corbyn Investment Management Inc registered with the SEC or a state?",
      "a": "Corbyn Investment Management Inc is an SEC-registered investment advisory firm, registered since 1973. Status as filed: Approved. CRD 104716."
    },
    {
      "q": "How much does Corbyn Investment Management Inc manage?",
      "a": "Corbyn Investment Management Inc reports $1,005,472,384 in regulatory assets under management in its Form ADV filing dated June 29, 2026 (100% discretionary)."
    },
    {
      "q": "How have Corbyn Investment Management Inc's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Corbyn Investment Management Inc: Regulatory assets under management: $914,447,106 in the October 2021 data and $1,005,472,384 in the October 2026 data, up 10%. Total employees: 11 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Corbyn Investment Management Inc serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (273); high net worth individuals (106); corporations or other businesses not listed above (32)."
    },
    {
      "q": "Which custodians does Corbyn Investment Management Inc use?",
      "a": "Corbyn Investment Management Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., National Financial Services LLC and Wilmington Trust Investment Management as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Corbyn Investment Management Inc report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/104716"
    },
    {
      "q": "Does Corbyn Investment Management Inc state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated June 29, 2026 says: \"We prefer that new accounts begin with a minimum balance of $500,000. Corbyn has the right to waive or modify minimums as deemed appropriate with respect to each individual account, client, and situation.\""
    },
    {
      "q": "What changed in Corbyn Investment Management Inc's recent Form ADV filings?",
      "a": "In the February 2026 filing data: Registered or notice-filed in KS, ME, MS, OH, SC, WY."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 914447106.0,
      "total_employees": 11,
      "filing_date": "2021-09-21"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1024798273.0,
      "total_employees": 11,
      "filing_date": "2022-03-14"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1030641100.0,
      "total_employees": 10,
      "filing_date": "2023-08-18"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 939296547.0,
      "total_employees": 11,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 976239562.0,
      "total_employees": 11,
      "filing_date": "2025-07-16"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1005472384.0,
      "total_employees": 10,
      "filing_date": "2026-06-29"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Registered or notice-filed in KS, ME, MS, OH, SC, WY."
      ]
    },
    {
      "period": "2025-11-01",
      "period_label": "November 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated June 29, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$500,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $500,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "We prefer that new accounts begin with a minimum balance of $500,000.  Corbyn has the right to waive or modify minimums as deemed appropriate with respect to each individual account, client, and situation."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 500000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "We prefer that new accounts begin with a minimum balance of $500,000.  Corbyn has the right to waive or modify minimums as deemed appropriate with respect to each individual account, client, and situation."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "National Financial Services LLC",
      "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC",
      "affiliated": false
    },
    {
      "name": "Wilmington Trust Investment Management",
      "name_as_filed": "WILMINGTON TRUST INVESTMENT MANAGEMENT",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/corbyn-investment-management-inc-lutherville-md-104716.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 273,
      "fewer_than_5": false,
      "raum": 136193690.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 106,
      "fewer_than_5": false,
      "raum": 229966090.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 508189176.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 4,
      "fewer_than_5": false,
      "raum": 4301944.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 24,
      "fewer_than_5": false,
      "raum": 53095445.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 849456.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 32,
      "fewer_than_5": false,
      "raum": 72155182.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 2,
      "fewer_than_5": false,
      "raum": 721401.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/104716",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}