CORBYN INVESTMENT MANAGEMENT INC/MD Diversified Active

CIK: 0000919538 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 13, 2026

Total Value ($000): $342,301 (61.9% shares, 38.1% debt)

Holdings (69)

New Positions (3)

— Spectrum Brands 1.4%

Value ($000) $4,840 Shares 5,124,000 Est. Cost $0.94 Unrealized —

— Qnity Electronics Inc. (Q) 1.0%

Value ($000) $3,408 Shares 41,735 Est. Cost $81.65 Unrealized —

AAPL Apple Inc. (AAPL) 0.1%

Value ($000) $211 Shares 777 Est. Cost $268.34 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Spectrum Brands	5,124,000	$4,840	1.4%	$0.94	—	CONV	84762LAZ8
—	Qnity Electronics Inc. (Q)	41,735	$3,408	1.0%	$81.65	—	COM	74743l100
AAPL	Apple Inc. (AAPL)	777	$211	0.1%	$268.34	0.0%	COM	037833100

Increased Positions (13)

— Bandwidth, Inc. 4.5%

Value ($000) $15,451 (+58.1%) Shares 17,791,000 (+54.6%) Est. Cost $0.86 Unrealized —

— MGP Ingredients, Inc. 4.3%

Value ($000) $14,568 (+22.4%) Shares 15,081,000 (+20.8%) Est. Cost $0.96 Unrealized —

PRMB Primo Brands Corporation Class 1.9%

Value ($000) $6,403 (-20.1%) Shares 391,646 (+8.0%) Est. Cost $27.37 Unrealized -32.5%

— Alight, Inc. (ALIT) 1.0%

Value ($000) $3,447 (-25.3%) Shares 1,767,663 (+24.9%) Est. Cost $5.00 Unrealized —

— Summit Hotel Properties, Inc. 3.3%

Value ($000) $11,319 (+7.7%) Shares 11,410,000 (+6.3%) Est. Cost $0.98 Unrealized —

TMUS T-Mobile USA, Inc. (TMUS) 1.2%

Value ($000) $4,260 (-9.9%) Shares 20,982 (+6.2%) Est. Cost $109.13 Unrealized +93.6%

DOX Amdocs Ltd (DOX) 1.0%

Value ($000) $3,574 (+14.9%) Shares 44,394 (+17.1%) Est. Cost $60.58 Unrealized +31.9%

— Marriott Vacation Worldwide 1.5%

Value ($000) $5,098 (+4.5%) Shares 5,117,000 (+3.1%) Est. Cost $0.98 Unrealized —

— Lucid Group Inc. 0.9%

Value ($000) $2,963 (+6.2%) Shares 3,195,000 (+6.5%) Est. Cost $0.93 Unrealized —

— Zimmer Biomet Holdings, Inc. ( 0.9%

Value ($000) $3,045 (-4.6%) Shares 33,867 (+4.5%) Est. Cost $107.34 Unrealized —

— Cannae Holdings Inc. (CNNE) 0.3%

Value ($000) $1,088 (+8.9%) Shares 69,182 (+26.7%) Est. Cost $18.22 Unrealized —

MSFT Microsoft Corp. (MSFT) 0.1%

Value ($000) $416 (+18.2%) Shares 861 (+26.6%) Est. Cost $434.78 Unrealized +15.1%

— Haemonetics Corp. 0.2%

Value ($000) $815 (+2.4%) Shares 825,000 (+1.4%) Est. Cost $0.85 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Bandwidth, Inc.	17,791,000 (+54.6%)	$15,451 (+58.1%)	4.5%	$0.86	—	CONV	05988JAD5
—	MGP Ingredients, Inc.	15,081,000 (+20.8%)	$14,568 (+22.4%)	4.3%	$0.96	—	CONV	55303JAB2
PRMB	Primo Brands Corporation Class	391,646 (+8.0%)	$6,403 (-20.1%)	1.9%	$27.37	-32.5%	COM	741623102
—	Alight, Inc. (ALIT)	1,767,663 (+24.9%)	$3,447 (-25.3%)	1.0%	$5.00	—	COM	01626w101
—	Summit Hotel Properties, Inc.	11,410,000 (+6.3%)	$11,319 (+7.7%)	3.3%	$0.98	—	CONV	866082aa8
TMUS	T-Mobile USA, Inc. (TMUS)	20,982 (+6.2%)	$4,260 (-9.9%)	1.2%	$109.13	+93.6%	COM	872590104
DOX	Amdocs Ltd (DOX)	44,394 (+17.1%)	$3,574 (+14.9%)	1.0%	$60.58	+31.9%	COM	G02602103
—	Marriott Vacation Worldwide	5,117,000 (+3.1%)	$5,098 (+4.5%)	1.5%	$0.98	—	CONV	57164YAD9
—	Lucid Group Inc.	3,195,000 (+6.5%)	$2,963 (+6.2%)	0.9%	$0.93	—	CONV	549498AA1
—	Zimmer Biomet Holdings, Inc. (	33,867 (+4.5%)	$3,045 (-4.6%)	0.9%	$107.34	—	COM	98956p102
—	Cannae Holdings Inc. (CNNE)	69,182 (+26.7%)	$1,088 (+8.9%)	0.3%	$18.22	—	COM	13765n107
MSFT	Microsoft Corp. (MSFT)	861 (+26.6%)	$416 (+18.2%)	0.1%	$434.78	+15.1%	COM	594918104
—	Haemonetics Corp.	825,000 (+1.4%)	$815 (+2.4%)	0.2%	$0.85	—	CONV	405024AB6

Exited Positions (1)

— Nextera Energy Partners LP 144 1.3%

Value ($000) $4,466 Shares 4,500,000 Est. Cost $0.99 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Nextera Energy Partners LP 144	4,500,000	$4,466	1.3%	$0.99	—	—	65341BAD8

Decreased Positions (34)

— DuPont de Nemours, Inc. (DD) 1.0%

Value ($000) $3,357 (-49.3%) Shares 83,497 (-1.7%) Est. Cost $71.61 Unrealized —

— EMCOR Group, Inc. (EME) 5.4%

Value ($000) $18,653 (-12.7%) Shares 30,490 (-7.3%) Est. Cost $47.47 Unrealized —

— KBR, Inc. (KBR) 3.3%

Value ($000) $11,216 (-16.3%) Shares 279,006 (-1.5%) Est. Cost $23.75 Unrealized —

RSG Republic Services, Inc. (RSG) 5.3%

Value ($000) $18,278 (-9.3%) Shares 86,246 (-1.8%) Est. Cost $26.48 Unrealized +710.5%

GOOG Alphabet, Inc. - Cl C (GOOG) 3.6%

Value ($000) $12,393 (+14.0%) Shares 39,494 (-11.5%) Est. Cost $108.11 Unrealized +164.9%

— Nextpower Inc. Class A (NXT) 2.1%

Value ($000) $7,111 (+15.9%) Shares 81,638 (-1.6%) Est. Cost $44.73 Unrealized —

— Ziff Davis, Inc. (ZD) 1.0%

Value ($000) $3,278 (-21.7%) Shares 93,252 (-15.1%) Est. Cost $68.70 Unrealized —

— Johnson Controls Int'l plc (JC 3.3%

Value ($000) $11,144 (+6.8%) Shares 93,060 (-1.9%) Est. Cost $41.23 Unrealized —

— Levi Strauss & Co. Class A (LE 0.8%

Value ($000) $2,725 (-13.1%) Shares 131,404 (-2.3%) Est. Cost $18.76 Unrealized —

— Pennymac Corp 3.5%

Value ($000) $12,146 (-3.0%) Shares 12,189,000 (-3.3%) Est. Cost $0.99 Unrealized —

— MYR Group, Inc. (MYRG) 4.4%

Value ($000) $15,112 (-2.3%) Shares 69,163 (-7.0%) Est. Cost $30.14 Unrealized —

— fuboTV, Inc. 4.3%

Value ($000) $14,842 (-2.1%) Shares 14,855,000 (-3.2%) Est. Cost $0.97 Unrealized —

CB Chubb Limited (CB) 1.2%

Value ($000) $4,020 (+7.8%) Shares 12,881 (-2.5%) Est. Cost $110.17 Unrealized +165.4%

— Snap Inc. 1.8%

Value ($000) $6,080 (-4.0%) Shares 6,538,000 (-4.7%) Est. Cost $0.85 Unrealized —

— Pebblebrook Hotel Trust 4.0%

Value ($000) $13,633 (-1.5%) Shares 14,127,000 (-1.8%) Est. Cost $0.92 Unrealized —

— American Homes 4 Rent (AMH) 0.9%

Value ($000) $3,081 (-5.8%) Shares 95,967 (-2.5%) Est. Cost $29.02 Unrealized —

UPS United Parcel Service, Inc. (U 0.4%

Value ($000) $1,349 (+15.4%) Shares 13,603 (-2.8%) Est. Cost $75.28 Unrealized +23.2%

— Nextera Energy Inc. (NEE) 1.2%

Value ($000) $4,007 (+3.9%) Shares 49,909 (-2.3%) Est. Cost $95.31 Unrealized —

— Wyndham Hotels & Resorts (WH) 0.5%

Value ($000) $1,778 (-7.6%) Shares 23,532 (-2.3%) Est. Cost $53.75 Unrealized —

SHW Sherwin-Williams Co. (SHW) 0.4%

Value ($000) $1,338 (-9.6%) Shares 4,130 (-3.3%) Est. Cost $205.65 Unrealized +62.5%

MDT Medtronic plc (MDT) 1.0%

Value ($000) $3,508 (-3.4%) Shares 36,517 (-4.3%) Est. Cost $76.65 Unrealized +26.7%

— Blackbaud, Inc. (BLKB) 0.9%

Value ($000) $2,981 (-3.8%) Shares 47,074 (-2.3%) Est. Cost $71.28 Unrealized —

— Vanguard Information Technolog 0.1%

Value ($000) $303 (-25.8%) Shares 402 (-26.5%) Est. Cost $397.65 Unrealized —

AMZN Amazon.com, Inc. (AMZN) 1.4%

Value ($000) $4,650 (+2.1%) Shares 20,147 (-2.9%) Est. Cost $124.44 Unrealized +83.9%

— Visa Inc. - Class A (V) 1.3%

Value ($000) $4,342 (-1.0%) Shares 12,380 (-3.6%) Est. Cost $200.29 Unrealized —

— Flex Ltd. (FLEX) 1.2%

Value ($000) $4,246 (+0.8%) Shares 70,281 (-3.3%) Est. Cost $30.46 Unrealized —

PSX Phillips 66 (PSX) 0.1%

Value ($000) $437 (-6.6%) Shares 3,387 (-1.6%) Est. Cost $40.93 Unrealized +227.4%

— Broadcom Inc. (AVGO) 0.1%

Value ($000) $422 (-5.1%) Shares 1,220 (-9.5%) Est. Cost $266.88 Unrealized —

— Redfin Corp. 3.2%

Value ($000) $11,047 (+0.2%) Shares 11,802,000 (-1.1%) Est. Cost $0.90 Unrealized —

EMR Emerson Electric (EMR) 1.0%

Value ($000) $3,469 (-0.6%) Shares 26,137 (-1.7%) Est. Cost $42.64 Unrealized +210.5%

WSFS WSFS Financial (WSFS) 0.5%

Value ($000) $1,800 (-0.9%) Shares 32,585 (-3.3%) Est. Cost $41.40 Unrealized +32.2%

RUSHA Rush Enterprises Class A (RUSH 0.4%

Value ($000) $1,434 (-0.9%) Shares 26,582 (-1.7%) Est. Cost $34.76 Unrealized +49.5%

SHBI Shore Bancshares (SHBI) 0.7%

Value ($000) $2,556 (+0.4%) Shares 144,593 (-6.9%) Est. Cost $11.35 Unrealized +47.7%

— Kenvue Inc (KVUE) 0.9%

Value ($000) $3,201 (+0.0%) Shares 185,538 (-5.9%) Est. Cost $19.85 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	DuPont de Nemours, Inc. (DD)	83,497 (-1.7%)	$3,357 (-49.3%)	1.0%	$71.61	—	COM	26614n102
—	EMCOR Group, Inc. (EME)	30,490 (-7.3%)	$18,653 (-12.7%)	5.4%	$47.47	—	COM	29084q100
—	KBR, Inc. (KBR)	279,006 (-1.5%)	$11,216 (-16.3%)	3.3%	$23.75	—	COM	48242w106
RSG	Republic Services, Inc. (RSG)	86,246 (-1.8%)	$18,278 (-9.3%)	5.3%	$26.48	+710.5%	COM	760759100
GOOG	Alphabet, Inc. - Cl C (GOOG)	39,494 (-11.5%)	$12,393 (+14.0%)	3.6%	$108.11	+164.9%	COM	02079K107
—	Nextpower Inc. Class A (NXT)	81,638 (-1.6%)	$7,111 (+15.9%)	2.1%	$44.73	—	COM	65290e101
—	Ziff Davis, Inc. (ZD)	93,252 (-15.1%)	$3,278 (-21.7%)	1.0%	$68.70	—	COM	48123v102
—	Johnson Controls Int'l plc (JC	93,060 (-1.9%)	$11,144 (+6.8%)	3.3%	$41.23	—	COM	g51502105
—	Levi Strauss & Co. Class A (LE	131,404 (-2.3%)	$2,725 (-13.1%)	0.8%	$18.76	—	COM	52736r102
—	Pennymac Corp	12,189,000 (-3.3%)	$12,146 (-3.0%)	3.5%	$0.99	—	CONV	70932AAF0
—	MYR Group, Inc. (MYRG)	69,163 (-7.0%)	$15,112 (-2.3%)	4.4%	$30.14	—	COM	55405w104
—	fuboTV, Inc.	14,855,000 (-3.2%)	$14,842 (-2.1%)	4.3%	$0.97	—	CONV	35953DAB0
CB	Chubb Limited (CB)	12,881 (-2.5%)	$4,020 (+7.8%)	1.2%	$110.17	+165.4%	COM	H1467J104
—	Snap Inc.	6,538,000 (-4.7%)	$6,080 (-4.0%)	1.8%	$0.85	—	CONV	83304AAF3
—	Pebblebrook Hotel Trust	14,127,000 (-1.8%)	$13,633 (-1.5%)	4.0%	$0.92	—	CONV	70509VAA8
—	American Homes 4 Rent (AMH)	95,967 (-2.5%)	$3,081 (-5.8%)	0.9%	$29.02	—	COM	02665t306
UPS	United Parcel Service, Inc. (U	13,603 (-2.8%)	$1,349 (+15.4%)	0.4%	$75.28	+23.2%	COM	911312106
—	Nextera Energy Inc. (NEE)	49,909 (-2.3%)	$4,007 (+3.9%)	1.2%	$95.31	—	COM	65339f101
—	Wyndham Hotels & Resorts (WH)	23,532 (-2.3%)	$1,778 (-7.6%)	0.5%	$53.75	—	COM	98311a105
SHW	Sherwin-Williams Co. (SHW)	4,130 (-3.3%)	$1,338 (-9.6%)	0.4%	$205.65	+62.5%	COM	824348106
MDT	Medtronic plc (MDT)	36,517 (-4.3%)	$3,508 (-3.4%)	1.0%	$76.65	+26.7%	COM	G5960L103
—	Blackbaud, Inc. (BLKB)	47,074 (-2.3%)	$2,981 (-3.8%)	0.9%	$71.28	—	COM	09227q100
—	Vanguard Information Technolog	402 (-26.5%)	$303 (-25.8%)	0.1%	$397.65	—	COM	92204a702
AMZN	Amazon.com, Inc. (AMZN)	20,147 (-2.9%)	$4,650 (+2.1%)	1.4%	$124.44	+83.9%	COM	023135106
—	Visa Inc. - Class A (V)	12,380 (-3.6%)	$4,342 (-1.0%)	1.3%	$200.29	—	COM	92826c839
—	Flex Ltd. (FLEX)	70,281 (-3.3%)	$4,246 (+0.8%)	1.2%	$30.46	—	COM	y2573f102
PSX	Phillips 66 (PSX)	3,387 (-1.6%)	$437 (-6.6%)	0.1%	$40.93	+227.4%	COM	718546104
—	Broadcom Inc. (AVGO)	1,220 (-9.5%)	$422 (-5.1%)	0.1%	$266.88	—	COM	11135f101
—	Redfin Corp.	11,802,000 (-1.1%)	$11,047 (+0.2%)	3.2%	$0.90	—	CONV	75737FAE8
EMR	Emerson Electric (EMR)	26,137 (-1.7%)	$3,469 (-0.6%)	1.0%	$42.64	+210.5%	COM	291011104
WSFS	WSFS Financial (WSFS)	32,585 (-3.3%)	$1,800 (-0.9%)	0.5%	$41.40	+32.2%	COM	929328102
RUSHA	Rush Enterprises Class A (RUSH	26,582 (-1.7%)	$1,434 (-0.9%)	0.4%	$34.76	+49.5%	COM	781846209
SHBI	Shore Bancshares (SHBI)	144,593 (-6.9%)	$2,556 (+0.4%)	0.7%	$11.35	+47.7%	COM	825107105
—	Kenvue Inc (KVUE)	185,538 (-5.9%)	$3,201 (+0.0%)	0.9%	$19.85	—	COM	49177j102

Unchanged Positions (19)

— Primis Financial Corp. (FRST) 1.1%

Value ($000) $3,827 Shares 275,154 Est. Cost $14.22 Unrealized —

WRB W. R. Berkley Corp. (WRB) 2.6%

Value ($000) $9,005 Shares 128,425 Est. Cost $35.30 Unrealized +106.0%

— EOG Resources (EOG) 1.3%

Value ($000) $4,348 Shares 41,401 Est. Cost $117.65 Unrealized —

— Pure Storage, Inc. 0.3%

Value ($000) $890 Shares 13,289 Est. Cost $41.18 Unrealized —

— Cadre Holdings, Inc. (CDRE) 0.6%

Value ($000) $2,001 Shares 49,001 Est. Cost $32.31 Unrealized —

— Akamai Technologies, Inc. (AK 0.3%

Value ($000) $1,183 Shares 13,554 Est. Cost $104.35 Unrealized —

ROP Roper Technologies, Inc. (ROP) 0.3%

Value ($000) $1,157 Shares 2,599 Est. Cost $543.22 Unrealized -14.9%

ABT Abbott Laboratories (ABT) 0.4%

Value ($000) $1,292 Shares 10,316 Est. Cost $49.80 Unrealized +155.6%

— Advanced Drainage Systems (WMS 0.7%

Value ($000) $2,233 Shares 15,420 Est. Cost $100.25 Unrealized —

NVT nVent Electric plc (NVT) 0.7%

Value ($000) $2,320 Shares 22,747 Est. Cost $22.01 Unrealized +370.8%

— Pennymac Corp 0.5%

Value ($000) $1,587 Shares 1,500,000 Est. Cost $1.03 Unrealized —

— Shoals Technology Grp, Inc. Cl 0.1%

Value ($000) $293 Shares 34,500 Est. Cost $6.74 Unrealized —

— Blackstone Mortgage Trust 4.5%

Value ($000) $15,379 Shares 15,605,000 Est. Cost $0.97 Unrealized —

MTX Minerals Technologies Inc. (M 0.5%

Value ($000) $1,855 Shares 30,438 Est. Cost $58.06 Unrealized +1.8%

USFD US Foods Holding Corp. 0.5%

Value ($000) $1,854 Shares 24,613 Est. Cost $37.07 Unrealized +102.6%

RUSHB Rush Enterprises Class B (RUSH 0.3%

Value ($000) $975 Shares 17,328 Est. Cost $20.21 Unrealized +169.8%

— DigitalOcean Holdings, Inc. 0.1%

Value ($000) $506 Shares 526,000 Est. Cost $0.86 Unrealized —

OCFC OceanFirst Financial (OCFC) 0.2%

Value ($000) $539 Shares 30,012 Est. Cost $9.88 Unrealized +86.5%

— JPMorgan Chase & Co. (JPM) 0.1%

Value ($000) $211 Shares 655 Est. Cost $315.43 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Primis Financial Corp. (FRST)	275,154	$3,827	1.1%	$14.22	—	COM	74167b109
WRB	W. R. Berkley Corp. (WRB)	128,425	$9,005	2.6%	$35.30	+106.0%	COM	084423102
—	EOG Resources (EOG)	41,401	$4,348	1.3%	$117.65	—	COM	26875p101
—	Pure Storage, Inc.	13,289	$890	0.3%	$41.18	—	COM	74624m102
—	Cadre Holdings, Inc. (CDRE)	49,001	$2,001	0.6%	$32.31	—	COM	12763l105
—	Akamai Technologies, Inc. (AK	13,554	$1,183	0.3%	$104.35	—	COM	00971t101
ROP	Roper Technologies, Inc. (ROP)	2,599	$1,157	0.3%	$543.22	-14.9%	COM	776696106
ABT	Abbott Laboratories (ABT)	10,316	$1,292	0.4%	$49.80	+155.6%	COM	002824100
—	Advanced Drainage Systems (WMS	15,420	$2,233	0.7%	$100.25	—	COM	00790r104
NVT	nVent Electric plc (NVT)	22,747	$2,320	0.7%	$22.01	+370.8%	COM	G6700G107
—	Pennymac Corp	1,500,000	$1,587	0.5%	$1.03	—	CONV	70932AAH6
—	Shoals Technology Grp, Inc. Cl	34,500	$293	0.1%	$6.74	—	COM	82489w107
—	Blackstone Mortgage Trust	15,605,000	$15,379	4.5%	$0.97	—	CONV	09257WAE0
MTX	Minerals Technologies Inc. (M	30,438	$1,855	0.5%	$58.06	+1.8%	COM	603158106
USFD	US Foods Holding Corp.	24,613	$1,854	0.5%	$37.07	+102.6%	COM	912008109
RUSHB	Rush Enterprises Class B (RUSH	17,328	$975	0.3%	$20.21	+169.8%	COM	781846308
—	DigitalOcean Holdings, Inc.	526,000	$506	0.1%	$0.86	—	CONV	25402DAB8
OCFC	OceanFirst Financial (OCFC)	30,012	$539	0.2%	$9.88	+86.5%	COM	675234108
—	JPMorgan Chase & Co. (JPM)	655	$211	0.1%	$315.43	—	COM	46625h100