United States
Securities and Exchange Commission
Washington, DC 20549
Form 13F
Report for the Calendar Year or Quarter Ended: September 30, 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 October 29, 2003
I am signing this report as required by the Securities Exchange Act of 1934.
FORM 13F
September 30, 2003
FORM 13F INFORMATION TABLE
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 2655 300000 SH SOLE 300000
AGCO Corporation COM 001084102 5570 325000 SH SOLE 325000
ASA Ltd. COM 002050102 15282 360000 SH SOLE 360000
AT&T Wireless Services COM 00209A106 4090 500000 SH SOLE 500000
Adv Micro Devices COM 007903107 13054 1175000 SH SOLE 1175000
Alberto Culver Co. CL-A COM 013068200 7174 125000 SH SOLE 125000
Alleghany Corp COM 017175100 6847 35067 SH SOLE 35067
Allied Capital COM 01903Q108 8606 350000 SH SOLE 350000
Altria Group Inc. COM 02209s100 43800 1000000 SH SOLE 1000000
Anadarko Pete Corp. COM 032511107 23803 570000 SH SOLE 570000
Anglogold Ltd ADR COM 035128206 45240 1200000 SH SOLE 1200000
Apache Corporation COM 037411105 20802 300000 SH SOLE 300000
Archer-Daniels-Midland COM 039483102 15076 1150000 SH SOLE 1150000
Automatic Data Processing COM 053015103 6274 175000 SH SOLE 175000
BJ's Wholesale Club Inc. COM 05548J106 12106 625000 SH SOLE 625000
Berkshire Hathaway B COM 084670207 62400 25000 SH SOLE 25000
Boeing Company COM 097023105 5149 150000 SH SOLE 150000
Bowne & Company COM 103043105 14202 950000 SH SOLE 950000
Bristol-Myers Squibb COM 110122108 29509 1150000 SH SOLE 1150000
Carpenter Technology COM 144285103 9648 450000 SH SOLE 450000
Cleveland-Cliffs Inc. COM 185896107 2560 100000 SH SOLE 100000
Coca-Cola Company COM 191216100 31361 730000 SH SOLE 730000
ConocoPhillips COM 20825C104 29936 546770 SH SOLE 546770
Corn Products Intl COM 219023108 5414 170000 SH SOLE 170000
Cott Corporation COM 22163n106 5852 250000 SH SOLE 250000
Diageo Plc-ADR COM 25243q205 8830 200000 SH SOLE 200000
Dow Jones Co. COM 260561105 9470 200000 SH SOLE 200000
Du Pont(E.I.)deNemours COM 263534109 13003 325000 SH SOLE 325000
Esg Re Limited COM g31215109 76 255000 SH SOLE 255000
Exxon Mobil Corp COM 30231G102 7320 200000 SH SOLE 200000
Fairfax Financial Hldg COM 303901102 4701 30000 SH SOLE 30000
GEHL Company COM 368483103 858 75300 SH SOLE 75300
Gannett Company COM 364730101 36453 470000 SH SOLE 470000
Gatx Corp COM 361448103 12690 600000 SH SOLE 600000
General Motors Cl H COM 370442832 6439 450000 SH SOLE 450000
Genuine Parts Co. COM 372460105 18388 575000 SH SOLE 575000
Germany Fund COM 374143105 2072 350000 SH SOLE 350000
Gold Fields Ltd New COM 38059t106 14856 1048400 SH SOLE 1048400
Grainger, W.W. Inc. COM 384802104 14265 300000 SH SOLE 300000
Grupo TMM-SP ADR A COM 40051D105 20686 6630000 SH SOLE 6630000
Hecla Mining Co. COM 422704106 3341 637600 SH SOLE 637600
Helmerich & Payne Inc. COM 423452101 10456 400000 SH SOLE 400000
Hershey Foods Corp. COM 427866108 7268 100000 SH SOLE 100000
Honda Motor Co. ADR COM 438128308 5040 250000 SH SOLE 250000
Hubbell Inc. Cl B COM 443510201 22806 625000 SH SOLE 625000
IMC Global, Inc. COM 449669100 238 37200 SH SOLE 37200
Invacare Corp COM 461203101 5637 150000 SH SOLE 150000
Kerr McGee Corp. COM 492386107 25668 575000 SH SOLE 575000
LSI Logic Corp COM 502161102 8990 1000000 SH SOLE 1000000
Lancaster Colony Corp COM 513847103 3168 79400 SH SOLE 79400
Leucadia National Corp COM 527288104 7570 200000 SH SOLE 200000
Loew's Corporation COM 540424108 25231 625000 SH SOLE 625000
Longview Fibre Co COM 543213102 3664 375000 SH SOLE 375000
Louisiana-Pacific COM 546347105 16536 1200000 SH SOLE 1200000
Marathon Oil Corp COM 565849106 34200 1200000 SH SOLE 1200000
Markel Corporation COM 570535104 18156 68000 SH SOLE 68000
Mattel Inc. COM 577081102 14220 750000 SH SOLE 750000
McDonald's Corporation COM 580135101 12947 550000 SH SOLE 550000
Medco Health Solutions Inc. COM 58405u102 2424 93465 SH SOLE 93465
Merck & Co. COM 589331107 39230 775000 SH SOLE 775000
Meridian Gold Inc. COM 589975101 1759 150000 SH SOLE 150000
Mesabi Trust COM 590672101 998 200000 SH SOLE 200000
Newmont Mining Corp. COM 651639106 58161 1487869 SH SOLE 1487869
Old Republic Intl COM 680223104 8272 250000 SH SOLE 250000
Park Place Entertainment COM 700690100 11285 1252500 SH SOLE 1252500
Placer Dome, Inc. COM 725906101 21312 1550000 SH SOLE 1550000
Pope & Talbot COM 732827100 4536 300000 SH SOLE 300000
RPM Inc. (Ohio) COM 749685103 2612 200000 SH SOLE 200000
Railamerica Inc. COM 750753105 8600 1000000 SH SOLE 1000000
Royal Gold Inc. COM 780287108 5481 300000 SH SOLE 300000
Ruddick Corporation COM 781258108 2953 190000 SH SOLE 190000
San Juan Basin Rty COM 798241105 542 30000 SH SOLE 30000
Saul Centers Inc. COM 804395101 4779 180000 SH SOLE 180000
Schweitzer-Mauduit COM 808541106 3156 125000 SH SOLE 125000
Seagate Technology Inc. COM 811804988 0 17900 SH SOLE 17900
Sherwin-Williams Co. COM 824348106 14117 480000 SH SOLE 480000
Smithfield Foods, Inc. COM 832248108 7392 385000 SH SOLE 385000
Tecumseh Products COM 878895200 239 6402 SH SOLE 6402
Tenneco Automotive Inc. COM 880349105 3774 600000 SH SOLE 600000
The Walt Disney COM 254687106 15228 755000 SH SOLE 755000
Thomas & Betts Corp. COM 884315102 3962 250000 SH SOLE 250000
Timken Company COM 887389104 8382 550000 SH SOLE 550000
Transocean Sedco Forex COM G90078109 27000 1350000 SH SOLE 1350000
Triarc Companies Inc/A COM 895927101 5438 540000 SH SOLE 540000
Triarc Companies Inc/B COM 895927309 11232 1080000 SH SOLE 1080000
Tyco International LTD COM 902124106 32177 1575000 SH SOLE 1575000
Tyson Foods Inc-Cl A COM 902494103 15543 1100000 SH SOLE 1100000
UST Inc. COM 902911106 7036 200000 SH SOLE 200000
Union Pacific Corp COM 907818108 10180 175000 SH SOLE 175000
Washington Post - Cl B COM 939640108 16625 25000 SH SOLE 25000
Weyerhaeuser Co. COM 962166104 5845 100000 SH SOLE 100000
White Mountains Ins COM G9618E107 10720 27000 SH SOLE 27000
Yankee Candle COM 984757104 4332 170000 SH SOLE 170000
93 DATA RECORDS 1196981
0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED