United States
Securities and Exchange Commission
Washington, DC  20549

Form 13 F

Report for the Calendar Year or Quarter Ended:			December 31, 2008

Report type:	13F Holdings Report

Institutional Investment Manager Filing this Report:

Name:		Lockheed Martin Investment Management Company
		6550 Rock Spring Drive, Suite 400
		Bethesda, MD  20817

13F File Number #28-2847

Person signing this report on behalf of Reporting Manager:

Name:		Jeffrey A. Sharpe
Title:		President
Phone:		301-571-7130

Signature, Place, and Date of Signing:

Jeffrey A. Sharpe,	Bethesda, MD	February 3, 2009




I am signing this report as required by the Securities Exchange Act of 1934.


							   FORM 13F
						     December 31, 2008

                                                                  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
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
                                                                                           
ACCENTURE LTD                  COM              G1150G111     2492    76000 SH       SOLE                    76000
AMAZON.COM INC.                COM              023135106      769    15000 SH       SOLE                    15000
APPLE INC                      COM              037833100      853    10000 SH       SOLE                    10000
AT&T INC                       COM              00206R102     8265   290000 SH       SOLE                   290000
CHINA LIFE INSURANCE CO-ADR    COM              16939P106      557    12000 SH       SOLE                    12000
CISCO SYSTEMS INC              COM              17275R102     2771   170000 SH       SOLE                   170000
GOOGLE INC - CL A              COM              38259P508     2769     9000 SH       SOLE                     9000
INTEL CORP                     COM              458140100     4984   340000 SH       SOLE                   340000
JOHNSON & JOHNSON              COM              478160104      359     6000 SH       SOLE                     6000
MICROSOFT CORP                 COM              594918104     9234   475000 SH       SOLE                   475000
ORACLE CORP                    COM              68389X105     7978   450000 SH       SOLE                   450000
TOLL BROTHERS, INC             COM              889478103     1714    80000 SH       SOLE                    80000
VERIZON COMMUNICATION INC.     COM              92343V104     5661   167000 SH       SOLE                   167000
CHINA LIFE INSURANCE (2628.hk) COM              6718976       2872   945000 SH       SOLE                   945000
CHINA MOBILE LTD (941.hk)      COM              6073556       2831   282000 SH       SOLE                   282000
HK AIRCRAFT ENGINEERING CO LTD COM              6435264        776    94400 SH       SOLE                    94400
PETROCHINA CO LTD (857.hk)     COM              6226576       1630  1860000 SH       SOLE                  1860000
ISHARE FTSE/A50 CHINA TRACKER( ETF              B04V406       2455  2311700 SH       SOLE                  2311700
CONSUMER STAPLES SPDR          ETF              81369Y308    49530  2075000 SH       SOLE                  2075000
ISHARES DJ US CNSMER SERVICE   ETF              464287580    12992   306700 SH       SOLE                   306700
SELECT SECTOR SPDR-CONSUMER DI ETF              81369Y407    17213   798000 SH       SOLE                   798000
SELECT SECTOR SPDR-ENERGY      ETF              81369Y506    47531   995000 SH       SOLE                   995000
SELECT SECTOR SPDR-FINANCIAL   ETF              81369Y605    45260  3615000 SH       SOLE                  3615000
SELECT SECTOR SPDR-HEALTH CARE ETF              81369Y209    54958  2070000 SH       SOLE                  2070000
SELECT SECTOR SPDR-INDUSTRIAL  ETF              81369Y704    32273  1378000 SH       SOLE                  1378000
SELECT SECTOR SPDR-TECHONOLOGY ETF              81369Y803    13407   870000 SH       SOLE                   870000
SELECT SECTOR SPDR-UTILITIES   ETF              81369Y886    16837   580000 SH       SOLE                   580000
SPDR-S&P 500 INDEX             ETF              78462F103    40879   453000 SH       SOLE                   453000