# DUFF & PHELPS INVESTMENT MANAGEMENT CO

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 765443. Source: https://holderbook.com/funds/765443-duff-phelps-investment-management-co/

- Reported value: $21.2B
- Positions: 162
- Weight of the ten largest: 29.5%
- Filed: 2026-08-03

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $1.4B | 6,049,436 | 6.5% | 9 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $890.3M | 854,064 | 4.2% | 30 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $874.0M | 6,451,680 | 4.1% | 31 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $623.4M | 3,471,186 | 2.9% | 25 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $508.6M | 5,727,090 | 2.4% | 15 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $436.2M | 1,950,376 | 2.1% | 31 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $407.5M | 1,280,240 | 1.9% | 17 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $388.6M | 4,839,954 | 1.8% | 31 |
| SEMPRA | [SRE](https://holderbook.com/stocks/SRE/) | $381.1M | 4,110,486 | 1.8% | 31 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $375.7M | 3,270,926 | 1.8% | 26 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $367.7M | 2,910,870 | 1.7% | 12 |
| AMERICAN HOMES 4 RENT | [AMH](https://holderbook.com/stocks/AMH/) | $354.0M | 10,562,290 | 1.7% | 31 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $342.4M | 1,814,872 | 1.6% | 31 |
| CENTERPOINT ENERGY INC | [CNP](https://holderbook.com/stocks/CNP/) | $340.1M | 7,722,464 | 1.6% | 31 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $340.0M | 2,078,350 | 1.6% | 31 |
| AMERICAN HEALTHCARE REIT INC | [AHR](https://holderbook.com/stocks/AHR/) | $323.4M | 6,200,628 | 1.5% | 5 |
| BRIXMOR PPTY GROUP INC | [BRX](https://holderbook.com/stocks/BRX/) | $316.7M | 10,044,504 | 1.5% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $306.2M | 3,489,170 | 1.4% | 31 |
| FIRST INDL RLTY TR INC | [FR](https://holderbook.com/stocks/FR/) | $302.8M | 4,939,504 | 1.4% | 4 |
| ALLIANT ENERGY CORP | [LNT](https://holderbook.com/stocks/LNT/) | $299.7M | 3,928,650 | 1.4% | 18 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $297.4M | 4,001,104 | 1.4% | 31 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $294.6M | 6,194,560 | 1.4% | 31 |
| EVERGY INC | [EVRG](https://holderbook.com/stocks/EVRG/) | $285.6M | 3,304,976 | 1.3% | 31 |
| MID-AMER APT CMNTYS INC | [MAA](https://holderbook.com/stocks/MAA/) | $282.9M | 2,036,046 | 1.3% | 31 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $277.8M | 1,036,060 | 1.3% | 31 |
| AMEREN CORP | [AEE](https://holderbook.com/stocks/AEE/) | $272.7M | 2,412,152 | 1.3% | 31 |
| CUBESMART | [CUBE](https://holderbook.com/stocks/CUBE/) | $257.7M | 6,478,944 | 1.2% | 31 |
| DTE ENERGY CO | [DTE](https://holderbook.com/stocks/DTE/) | $256.5M | 1,683,548 | 1.2% | 19 |
| ESSEX PPTY TR INC | [ESS](https://holderbook.com/stocks/ESS/) | $250.3M | 858,420 | 1.2% | 9 |
| ESSENTIAL PPTYS RLTY TR INC | [EPRT](https://holderbook.com/stocks/EPRT/) | $241.0M | 8,074,114 | 1.1% | 8 |
| PPL CORP | [PPL](https://holderbook.com/stocks/PPL/) | $239.0M | 6,575,908 | 1.1% | 16 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $228.9M | 1,959,868 | 1.1% | 31 |
| CMS ENERGY CORP | [CMS](https://holderbook.com/stocks/CMS/) | $222.4M | 2,907,334 | 1.0% | 31 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $219.7M | 1,275,450 | 1.0% | 31 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $219.3M | 1,603,064 | 1.0% | 31 |
| RYMAN HOSPITALITY PPTYS INC | [RHP](https://holderbook.com/stocks/RHP/) | $218.9M | 1,702,948 | 1.0% | 31 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $217.5M | 909,798 | 1.0% | 31 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $214.3M | 3,138,804 | 1.0% | 31 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $205.1M | 3,094,114 | 1.0% | 29 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $204.4M | 1,614,568 | 1.0% | 16 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $204.2M | 2,133,610 | 1.0% | 31 |
| EQUITY LIFESTYLE PROPERTIES | [ELS](https://holderbook.com/stocks/ELS/) | $203.7M | 3,160,970 | 1.0% | 7 |
| OGE ENERGY CORP | [OGE](https://holderbook.com/stocks/OGE/) | $203.5M | 4,182,492 | 1.0% | 31 |
| CROWN CASTLE INC | [CCI](https://holderbook.com/stocks/CCI/) | $194.7M | 2,571,306 | 0.9% | 31 |
| MPLX LP | [MPLX](https://holderbook.com/stocks/MPLX/) | $182.3M | 3,236,934 | 0.9% | 31 |
| EMERA INC | [EMA](https://holderbook.com/stocks/EMA/) | $174.8M | 2,323,580 | 0.8% | 2 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $173.0M | 1,989,688 | 0.8% | 31 |
| PHILLIPS EDISON & CO INC | [PECO](https://holderbook.com/stocks/PECO/) | $167.0M | 4,012,210 | 0.8% | 9 |
| AGREE RLTY CORP | [ADC](https://holderbook.com/stocks/ADC/) | $166.8M | 2,201,914 | 0.8% | 9 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $166.7M | 8,719,426 | 0.8% | 31 |
| FORTIS INC | [FTS](https://holderbook.com/stocks/FTS/) | $159.6M | 1,963,800 | 0.8% | 31 |
| ESSENTIAL UTILS INC | [WTRG](https://holderbook.com/stocks/WTRG/) | $157.4M | 4,109,366 | 0.7% | 26 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $156.1M | 573,852 | 0.7% | 31 |
| SPIRE INC | [SR](https://holderbook.com/stocks/SR/) | $151.2M | 1,935,898 | 0.7% | 31 |
| PG&E CORP | [PCG](https://holderbook.com/stocks/PCG/) | $148.7M | 8,843,288 | 0.7% | 17 |
| VORNADO RLTY TR | [VNO](https://holderbook.com/stocks/VNO/) | $146.3M | 3,723,878 | 0.7% | 10 |
| COUSINS PPTYS INC | [CUZ](https://holderbook.com/stocks/CUZ/) | $142.8M | 4,763,630 | 0.7% | 29 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $142.7M | 2,632,652 | 0.7% | 31 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $137.3M | 1,043,830 | 0.6% | 31 |
| PINNACLE WEST CAP CORP | [PNW](https://holderbook.com/stocks/PNW/) | $133.7M | 1,249,860 | 0.6% | 31 |
| PUBLIC SVC ENTERPRISE GROUP | [PEG](https://holderbook.com/stocks/PEG/) | $131.6M | 1,621,970 | 0.6% | 31 |
| BXP INC | [BXP](https://holderbook.com/stocks/BXP/) | $130.3M | 1,964,652 | 0.6% | 10 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $130.0M | 6,281,000 | 0.6% | 31 |
| SABRA HEALTH CARE REIT INC | [SBRA](https://holderbook.com/stocks/SBRA/) | $130.0M | 6,663,232 | 0.6% | 12 |
| FIRSTENERGY CORP | [FE](https://holderbook.com/stocks/FE/) | $124.0M | 2,609,000 | 0.6% | 29 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $123.2M | 1,001,590 | 0.6% | 13 |
| DT MIDSTREAM INC | [DTM](https://holderbook.com/stocks/DTM/) | $123.1M | 838,684 | 0.6% | 19 |
| NATIONAL HEALTHCARE PPTYS IN | - | $121.0M | 8,260,888 | 0.6% | 1 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $114.7M | 3,120,346 | 0.5% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $113.4M | 2,678,978 | 0.5% | 31 |
| GAMING & LEISURE P | [GLPI](https://holderbook.com/stocks/GLPI/) | $112.7M | 2,530,646 | 0.5% | 10 |
| PEMBINA PIPELINE CORP | [PBA](https://holderbook.com/stocks/PBA/) | $103.7M | 1,599,204 | 0.5% | 31 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $96.7M | 3,023,210 | 0.5% | 31 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $90.1M | 1,896,638 | 0.4% | 5 |
| ONE GAS INC | [OGS](https://holderbook.com/stocks/OGS/) | $88.8M | 1,152,000 | 0.4% | 31 |
| PEBBLEBROOK HOTEL TR | [PEB](https://holderbook.com/stocks/PEB/) | $85.0M | 4,378,302 | 0.4% | 2 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $80.0M | 5,333,000 | 0.4% | 31 |
| XYLEM INC | [XYL](https://holderbook.com/stocks/XYL/) | $79.6M | 673,052 | 0.4% | 16 |
| REXFORD INDL RLTY INC | [REXR](https://holderbook.com/stocks/REXR/) | $78.6M | 2,344,944 | 0.4% | 26 |
| PLAINS ALL AMERN PIPELINE L | [PAA](https://holderbook.com/stocks/PAA/) | $74.7M | 3,353,800 | 0.4% | 31 |
| COMPANHIA DE SANEAMENTO BASI | [SBS](https://holderbook.com/stocks/SBS/) | $74.0M | 12,801,874 | 0.3% | 15 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $72.2M | 813,744 | 0.3% | 12 |
| BLACK HILLS CORP | [BKH](https://holderbook.com/stocks/BKH/) | $68.4M | 919,080 | 0.3% | 29 |
| SMARTSTOP SELF STORAG REIT I | [SMA](https://holderbook.com/stocks/SMA/) | $62.9M | 1,934,056 | 0.3% | 5 |
| NORTHWEST NAT HLDG CO | [NWN](https://holderbook.com/stocks/NWN/) | $60.2M | 1,226,180 | 0.3% | 31 |
| KODIAK GAS SVCS INC | [KGS](https://holderbook.com/stocks/KGS/) | $52.4M | 698,102 | 0.2% | 12 |
| BCE INC | [BCE](https://holderbook.com/stocks/BCE/) | $48.5M | 2,254,576 | 0.2% | 31 |
| KIMCO REALTY CORP | [KIM](https://holderbook.com/stocks/KIM/) | $47.6M | 1,876,162 | 0.2% | 20 |
| FERROVIAL NV | [FER](https://holderbook.com/stocks/FER/) | $47.1M | 785,818 | 0.2% | 2 |
| ALEXANDRIA REAL ESTATE EQ IN | [ARE](https://holderbook.com/stocks/ARE/) | $45.0M | 851,410 | 0.2% | 18 |
| CORE & MAIN INC | [CNM](https://holderbook.com/stocks/CNM/) | $43.9M | 910,100 | 0.2% | 16 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $37.9M | 135,982 | 0.2% | 16 |
| WATTS WATER TECHNOLOGIES INC | [WTS](https://holderbook.com/stocks/WTS/) | $36.5M | 93,290 | 0.2% | 10 |
| PENTAIR PLC | [PNR](https://holderbook.com/stocks/PNR/) | $33.4M | 435,064 | 0.2% | 16 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $31.2M | 99,070 | 0.1% | 1 |
| ADVANCED DRAIN SYS INC DEL | [WMS](https://holderbook.com/stocks/WMS/) | $30.9M | 196,978 | 0.1% | 16 |
| ZURN ELKAY WATER SOLNS CORP | [ZWS](https://holderbook.com/stocks/ZWS/) | $25.6M | 507,502 | 0.1% | 16 |
| SOUTHWEST GAS HLDGS INC | [SWX](https://holderbook.com/stocks/SWX/) | $25.1M | 283,138 | 0.1% | 2 |
| MUELLER WTR PRODS INC | [MWA](https://holderbook.com/stocks/MWA/) | $24.2M | 936,624 | 0.1% | 16 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $22.6M | 39,136 | 0.1% | 16 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +4.5% | +14.8% | -10.3% | 99% |
| Q1 2026 | +8.2% | -4.6% | +12.8% | 99% |
| Q4 2025 | -2.7% | +2.4% | -5.0% | 100% |
| Q3 2025 | +4.2% | +7.8% | -3.6% | 99% |
| Q2 2025 | -1.4% | +10.5% | -11.9% | 100% |
| Q1 2025 | +3.7% | -4.6% | +8.2% | 100% |
| Q4 2024 | -3.5% | +2.1% | -5.7% | 100% |
| Q3 2024 | +14.3% | +5.4% | +8.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $21.2B | 162 |
| Q1 2026 | $19.3B | 148 |
| Q4 2025 | $8.8B | 146 |
| Q3 2025 | $8.8B | 151 |
| Q2 2025 | $8.5B | 154 |
| Q1 2025 | $8.5B | 153 |
| Q4 2024 | $8.4B | 156 |
| Q3 2024 | $8.7B | 156 |
| Q2 2024 | $7.8B | 229 |
| Q1 2024 | $8.4B | 249 |
| Q4 2023 | $8.3B | 248 |
| Q3 2023 | $7.6B | 251 |