United States
Securities and Exchange Commission
Washington, DC 20549
Form 13F
Report for the Calendar Year or Quarter Ended: March 31, 2003
Report type: 13F Holdings Report
Institutional Investment Manager Filing this Report:
Name: Lockheed Martin Investment Management Company
6705 Rockledge Drive, Suite 550
Bethesda, MD 20817
13F File Number #28-2847
Person signing this report on Behalf of Reporting Manager:
Name: Wayne H. Shaner
Title: Managing Director
Phone: 301-571-7127
Signature, Place, and Date of Signing:
Wayne H. Shaner Bethesda, MD April 24, 2003
I am signing this report as required by the Securities Exchange Act of 1934.
FORM 13F
March 31, 2003
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AEP Industries Inc. COM 001031103 5190 600000 SH SOLE 600000
AGCO Corporation COM 001084102 5232 325000 SH SOLE 325000
ASA Ltd. COM 002050102 12492 360000 SH SOLE 360000
AT&T Wireless Services COM 00209A106 3300 500000 SH SOLE 500000
Adv Micro Devices COM 007903107 8343 1350000 SH SOLE 1350000
Airborne Inc. COM 009269101 5883 300000 SH SOLE 300000
Alberto Culver Co. CL-A COM 013068200 5994 125000 SH SOLE 125000
Alleghany Corp COM 017175100 4024 24576 SH SOLE 24576
Allied Capital COM 01903Q108 6993 350000 SH SOLE 350000
Altria Group Inc. COM 02209s100 29960 1000000 SH SOLE 1000000
Anadarko Pete Corp. COM 032511107 18200 400000 SH SOLE 400000
Anglogold Ltd ADR COM 035128206 38329 1270000 SH SOLE 1270000
Apache Corporation COM 037411105 28200 456750 SH SOLE 456750
Archer-Daniels-Midland COM 039483102 5400 500000 SH SOLE 500000
BJ's Wholesale Club Inc. COM 05548J106 4802 425000 SH SOLE 425000
Berkshire Hathaway B COM 084670207 50219 23500 SH SOLE 23500
Boeing Company COM 097023105 2506 100000 SH SOLE 100000
Bowne & Company COM 103043105 10000 1000000 SH SOLE 1000000
Bristol-Myers Squibb COM 110122108 23243 1100000 SH SOLE 1100000
Brookstone Inc. COM 114537103 652 40000 SH SOLE 40000
Burlington Northern SF COM 12189t104 6225 250000 SH SOLE 250000
Carpenter Technology COM 144285103 4821 475000 SH SOLE 475000
ChevronTexaco Corp COM 166764100 6465 100000 SH SOLE 100000
Circuit City Stores COM 172737108 1300 250000 SH SOLE 250000
Cleveland-Cliffs Inc. COM 185896107 5595 300000 SH SOLE 300000
Coca-Cola Company COM 191216100 6072 150000 SH SOLE 150000
ConAgra Inc. COM 205887102 12048 600000 SH SOLE 600000
ConocoPhillips COM 20825C104 45041 840310 SH SOLE 840310
Corn Products Intl COM 219023108 6998 240000 SH SOLE 240000
Corning Incorporated COM 219350105 5548 950000 SH SOLE 950000
Cott Corporation COM 22163n106 5265 300000 SH SOLE 300000
Cummins Engine COM 231021106 5289 215000 SH SOLE 215000
Dow Jones Co. COM 260561105 7088 200000 SH SOLE 200000
Du Pont(E.I.)deNemours COM 263534109 14961 385000 SH SOLE 385000
Eastman Kodak Corp. COM 277461109 5920 200000 SH SOLE 200000
Esg Re Limited COM g31215109 64 255000 SH SOLE 255000
Exxon Mobil Corp COM 30231G102 6116 175000 SH SOLE 175000
Fairfax Financial Hldg COM 303901102 4076 80000 SH SOLE 80000
GEHL Company COM 368483103 639 75300 SH SOLE 75300
Gannett Company COM 364730101 35215 500000 SH SOLE 500000
Gatx Corp COM 361448103 5068 350000 SH SOLE 350000
General Motors Cl H COM 370442832 5040 450000 SH SOLE 450000
Germany Fund COM 374143105 1389 350000 SH SOLE 350000
Gold Field Ltd New COM 38059t106 7087 675000 SH SOLE 675000
Grainger, W.W. Inc. COM 384802104 12870 300000 SH SOLE 300000
Grupo TMM-SP ADR A COM 40051D105 30727 7818515 SH SOLE 7818515
Hecla Mining Co. COM 422704106 2098 637600 SH SOLE 637600
Helmerich & Payne Inc. COM 423452101 12810 500000 SH SOLE 500000
Hershey Foods Corp. COM 427866108 6266 100000 SH SOLE 100000
Home Depot Inc. COM 437076102 4872 200000 SH SOLE 200000
Hubbell Inc. Cl B COM 443510201 19562 625000 SH SOLE 625000
IMC Global, Inc. COM 449669100 12506 1300000 SH SOLE 1300000
Intermet COM 45881K104 146 40000 SH SOLE 40000
Kerr McGee Corp. COM 492386107 23351 575000 SH SOLE 575000
Kimberly-Clark Corp COM 494368103 2273 50000 SH SOLE 50000
LSI Logic Corp COM 502161102 5424 1200000 SH SOLE 1200000
Lancaster Colony Corp COM 513847103 3045 79400 SH SOLE 79400
Leucadia National Corp COM 527288104 7148 200000 SH SOLE 200000
Loew's Corporation COM 540424108 24900 625000 SH SOLE 625000
Longview Fibre Co COM 543213102 2494 375000 SH SOLE 375000
Louisiana-Pacific COM 546347105 9516 1200000 SH SOLE 1200000
Marathon Oil Corp COM 565849106 28764 1200000 SH SOLE 1200000
Markel Corporation COM 570535104 12975 58000 SH SOLE 58000
Mattel Inc. COM 577081102 4500 200000 SH SOLE 200000
McDonald's Corporation COM 580135101 7230 500000 SH SOLE 500000
Merck & Co. COM 589331107 42454 775000 SH SOLE 775000
Meridian Gold Inc. COM 589975101 1890 200000 SH SOLE 200000
Mesabi Trust COM 590672101 898 200000 SH SOLE 200000
Newmont Mining Corp. COM 651639106 41523 1587869 SH SOLE 1587869
Old Republic Intl COM 680223104 8159 305000 SH SOLE 305000
Park Place Entertainment COM 700690100 8918 1252500 SH SOLE 1252500
Placer Dome, Inc. COM 725906101 15190 1550000 SH SOLE 1550000
Pope & Talbot COM 732827100 4392 350000 SH SOLE 350000
Procter & Gamble COM 742718109 890 10000 SH SOLE 10000
RPM Inc. (Ohio) COM 749685103 2100 200000 SH SOLE 200000
Railamerica Inc. COM 750753105 13439 2203162 SH SOLE 2203162
Royal Gold Inc. COM 780287108 5880 400000 SH SOLE 400000
Ruddick Corporation COM 781258108 3198 260000 SH SOLE 260000
San Juan Basin Rty COM 798241105 736 50000 SH SOLE 50000
Saul Centers Inc. COM 804395101 4610 200000 SH SOLE 200000
Schering-Plough Corp COM 806605101 20059 1125000 SH SOLE 1125000
Schlumberger Ltd. COM 806857108 8742 230000 SH SOLE 230000
Schweitzer-Mauduit COM 808541106 2812 125000 SH SOLE 125000
Sherwin-Williams Co. COM 824348106 14536 550000 SH SOLE 550000
Smithfield Foods, Inc. COM 832248108 4519 255000 SH SOLE 255000
Tenneco Automotive Inc. COM 880349105 1808 800000 SH SOLE 800000
The Walt Disney COM 254687106 12850 755000 SH SOLE 755000
Thomas & Betts Corp. COM 884315102 4963 350000 SH SOLE 350000
Timken Company COM 887389104 8591 550000 SH SOLE 550000
Transocean Sedco Forex COM G90078109 13804 675000 SH SOLE 675000
Triarc Companies Inc. COM 895927101 19495 700000 SH SOLE 700000
Tyco International LTD COM 902124106 16075 1250000 SH SOLE 1250000
Tyson Foods Inc-Cl A COM 902494103 9300 1200000 SH SOLE 1200000
UST Inc. COM 902911106 5520 200000 SH SOLE 200000
Union Pacific Corp COM 907818108 9900 180000 SH SOLE 180000
Volvo AB ADR COM 928856400 1501 85000 SH SOLE 85000
Washington Post - Cl B COM 939640108 14990 22000 SH SOLE 22000
Weyerhaeuser Co. COM 962166104 4783 100000 SH SOLE 100000
White Mountains Ins COM G9618E107 9180 27000 SH SOLE 27000
Yankee Candle COM 984757104 1703 100000 SH SOLE 100000
REPORT SUMMARY 100 DATA RECORDS 1045180 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED