Firm profile

Corbyn Investment Management Inc.

LUTHERVILLE, MDCRD 104716Registration Status: ApprovedEffective since March 9, 1973SEC # 801-9139Latest ADV June 29, 2026

Corbyn Investment Management Inc is an SEC registered investment adviser organized as a corporation with a primary office location in Lutherville, MD. Its latest Form ADV filing, dated June 29, 2026, reports $1.0B in regulatory assets under management, 10 employees, 1 office, and 512 accounts.

Assets Under Management
$1.0B
Employees
10
Offices
1 office
Total Clients
444

Associated firm names

1 name listed
  • CORBYN INVESTMENT MANAGEMENT INC

Leadership

1 roles identified
CCOThayne E. Gould

Advisory services offered

3 types reported
Portfolio management for businesses
Portfolio management for individuals and small businesses
Portfolio management for investment companies

Fee models offered

1 types reported
Asset based fees

Offices & Contact

Primary office

LUTHERVILLE, Maryland, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Maryland

LUTHERVILLEPrimary office

1 office records listed · 1 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$1.0Bas of June 29, 2026
Discretionary100.0%
$1.0B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentIndividuals represent 61.5% of total clients.
Top client categories% of clientsClients
1
Individuals
61.5%
273
2
HNWI
23.9%
106
3
Corporations
7.2%
32
4
Charitable
5.4%
24
5
Pension Plans
0.9%
4

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$1.0B
Total Accounts512
10Y AUM Change$-6M (-0.6%)

Private Funds

Private funds reported by Corbyn Investment Management Inc.

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees10
Clients per Employee44:1
10Y Employee Change-1 (-9.1%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
MICHAEL JOSEPH PULCINELLADirect owner · Schedule AInterest in CORBYN INVESTMENT MANAGEMENT INC
25% to < 50%
GEORGE A TRUPPIDirect owner · Schedule AInterest in CORBYN INVESTMENT MANAGEMENT INC
25% to < 50%
MICHAEL ANDREW GOODMANDirect owner · Schedule AInterest in CORBYN INVESTMENT MANAGEMENT INC
10% to < 25%
CHARLES VON KAPFF CARLSONDirect owner · Schedule AInterest in CORBYN INVESTMENT MANAGEMENT INC
5% to < 10%
WILLIAM EARLE WHITEDirect owner · Schedule AInterest in CORBYN INVESTMENT MANAGEMENT INC
5% to < 10%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Corbyn Investment Management Inc..

No indirect ownership information reported in the source’s Schedule B.

Reported ownership and control details

Form ADV · Filing date 2026-06-29 · Schedules A and B

7 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1CHARLES VON KAPFF CARLSONPORTFOLIO MANAGERIndividualCORBYN INVESTMENT MANAGEMENT INC5% to less than 10%Code ANoPORTFOLIO MANAGER01/1994Schedule APDF page 20
2MICHAEL JOSEPH FUSTINGPORTFOLIO MANAGERIndividualCORBYN INVESTMENT MANAGEMENT INCLess than 5%Code NANoPORTFOLIO MANAGER01/2021Schedule APDF page 20
3MICHAEL ANDREW GOODMANPORTFOLIO MANAGER, SENIOR VICE PRESIDENT, SECRETARY, DIRECTORIndividualCORBYN INVESTMENT MANAGEMENT INC10% to less than 25%Code BNoPORTFOLIO MANAGER, SENIOR VICE PRESIDENT, SECRETARY, DIRECTOR09/2009Schedule APDF page 20
4MICHAEL JOSEPH PULCINELLAPORTFOLIO MANAGER, PRESIDENT, DIRECTORIndividualCORBYN INVESTMENT MANAGEMENT INC25% to less than 50%Code CYesPORTFOLIO MANAGER, PRESIDENT, DIRECTOR01/2021Schedule APDF page 20
5WILLIAM EARLE WHITEVICE PRESIDENT, NATIONAL SALES DIRECTOR, DIRECTORIndividualCORBYN INVESTMENT MANAGEMENT INC5% to less than 10%Code ANoVICE PRESIDENT, NATIONAL SALES DIRECTOR, DIRECTOR12/2002Schedule APDF page 20
6GEORGE A TRUPPIPORTFOLIO MANAGER, SENIOR VICE PRESIDENT, DIRECTORIndividualCORBYN INVESTMENT MANAGEMENT INC25% to less than 50%Code CYesPORTFOLIO MANAGER, SENIOR VICE PRESIDENT, DIRECTOR08/2023Schedule APDF page 20
7Thayne E GouldCHIEF COMPLIANCE OFFICERIndividualCORBYN INVESTMENT MANAGEMENT INCLess than 5%Code NANoCHIEF COMPLIANCE OFFICER10/2025Schedule APDF page 20

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 6/29/2026 4:52:39 PM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.