DUFF & PHELPS INVESTMENT MANAGEMENT CO

CIK

765443

Location

CHICAGO, IL

Portfolio Value

Mid $9,533,458,290

Diversification

Diversified

Filing Date

Global Rank

#310 / 8,232 ▲ 59

Top Industry

Utilities - Regulated Electric 26.9%

3Y Alpha vs SPY

-7.4%

Period ended 2 months ago

Filed Apr 28, 2026 · 46d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+45.9%

SPY

+76.5%

Annualised alpha

-7.4%

Max drawdown

−13.4%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

144 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.5%

−0.1 pts

Top 5

19.6%

+0.3 pts

Top 10

29.2%

+0.1 pts

HHI

173

Diversified+1

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Real Estate	45.1%	$4,299,499,092	41
Utilities	36.2%	$3,454,914,764	41
Energy	11.6%	$1,105,785,852	19
Industrials	4.2%	$402,077,289	26
Communication Services	2.3%	$220,949,386	4
Basic Materials	0.2%	$19,930,484	1
Technology	0.2%	$18,618,887	8
Healthcare	0.1%	$9,512,432	2
Unclassified	0.0%	$2,170,104	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AHR	American Healthcare REIT, Inc.	+754,900	1,083,175	$51,082,533
ET	Energy Transfer LP	+580,938	4,346,738	$83,892,043
OKE	Oneok Inc /New/	+312,954	1,030,679	$93,163,074
ENB	Enbridge Inc	+175,744	1,539,163	$83,330,283
PLUG	Plug Power Inc	+158,138	448,248	$1,013,040
CSX	Csx Corp	+107,073	912,188	$37,445,317
PSA	Public Storage	+103,780	553,190	$149,848,106
AWK	American Water Works Company, Inc.	+103,758	552,780	$75,227,830
TTEK	Tetra Tech Inc	+82,390	211,038	$6,356,464
D	Dominion Energy, Inc	+79,654	1,572,229	$97,195,196
XEL	Xcel Energy Inc	+72,516	2,424,903	$192,634,293
BKH	Black Hills Corp /Sd/	+69,840	459,540	$31,896,671
VNO	Vornado Realty Trust	+69,250	1,535,960	$39,919,600
WMB	Williams Companies, Inc.	+67,158	1,932,786	$140,668,163
VLTO	Veralto Corp	+56,196	412,587	$36,480,942
CNP	Centerpoint Energy Inc	+55,457	3,866,699	$166,886,728
CP	Canadian Pacific Kansas City Ltd/Cn	+54,038	424,550	$33,395,102
BRX	Brixmor Property Group Inc.	+52,350	4,482,893	$129,107,317
ADC	Agree Realty Corp	+52,175	1,010,118	$76,142,694
DTM	DT Midstream, Inc.	+51,138	420,186	$56,586,447
UNP	Union Pacific Corp	+49,148	256,470	$62,224,751
SBRA	Sabra Health Care REIT, Inc.	+39,650	2,828,445	$54,390,996
CUZ	Cousins Properties Inc	+38,450	2,130,177	$48,078,094
VTR	Ventas, Inc.	+35,600	2,611,874	$213,599,055
GFL	GFL Environmental Inc.	+29,580	353,327	$14,740,802
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
KMI	Kinder Morgan, Inc.	−931,059	1,503,744	$50,420,535
PAA	Plains All American Pipeline LP	−400,000	1,776,900	$39,678,177
SMA	SmartStop Self Storage REIT, Inc.	−267,945	831,755	$25,185,540
NWN	Northwest Natural Holding Co	−243,620	613,090	$32,628,649
ES	Eversource Energy	−183,480	424,140	$29,384,419
PLD	Prologis, Inc.	−166,515	2,989,856	$395,199,165
SO	Southern Co	−164,923	1,073,294	$103,594,335
MPLX	Mplx LP	−163,536	1,668,467	$95,219,410
NEE	Nextera Energy Inc	−146,934	1,921,380	$178,457,774
AVB	Avalonbay Communities Inc	−133,315	806,750	$131,782,612
PCG	PG&E Corp	−131,967	5,078,983	$89,237,730
KGS	Kodiak Gas Services, Inc.	−113,072	349,051	$20,356,654
PBA	Pembina Pipeline Corp	−103,474	859,602	$38,475,785
LNG	Cheniere Energy, Inc.	−91,480	371,015	$105,279,215
ELS	Equity Lifestyle Properties Inc	−80,735	1,464,385	$91,406,911
TRP	Tc Energy Corp	−70,304	1,626,340	$101,808,883
XYL	Xylem Inc.	−65,519	304,391	$36,374,724
EVRG	Evergy, Inc.	−60,075	1,655,860	$135,648,050
MWA	Mueller Water Products, Inc.	−55,824	492,139	$13,528,901
SR	Spire Inc	−50,854	932,582	$84,435,974
ETR	Entergy Corp /De/	−47,225	1,532,230	$172,161,362
AEE	Ameren Corp	−45,060	1,159,881	$127,494,119
ATO	Atmos Energy Corp	−44,361	607,945	$112,299,600
PPL	PPL Corp	−40,229	3,015,392	$115,187,974
PNR	PENTAIR plc	−30,860	219,687	$19,136,934
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
EMA	Emera Inc	1,349,450	$69,995,971
PEB	Pebblebrook Hotel Trust	3,186,450	$40,244,863
FER	Ferrovial N.V.	395,900	$25,753,295
SWX	Southwest Gas Holdings, Inc.	85,000	$7,386,500
HTO	H2o America	111,795	$6,559,012
AWR	American States Water Co	51,404	$3,887,170
CWT	California Water Service Group	85,115	$3,859,114
ACM	Aecom	7	$593
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
CNI	Canadian National Railway Co	336,789	$33,291,592
KNTK	Kinetik Holdings Inc.	171,094	$6,167,938
ERII	Energy Recovery, Inc.	301,487	$4,067,059
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

144 positions · $9,533,458,290 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Energy Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 144 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
WELL	Welltower Inc. Real Estate	Added	2,632,540	+22,850	$520,479,483	+7.5%	5.46%
EQIX	Equinix Inc Real Estate	Reduced	472,583	-5,750	$463,244,759	+26.4%	4.86%
PLD	Prologis, Inc. Real Estate	Reduced	2,989,856	-166,515	$395,199,165	−1.9%	4.15%
DLR	Digital Realty Trust, Inc. Real Estate	Added	1,546,930	+4,220	$278,772,254	+16.8%	2.92%
VTR	Ventas, Inc. Real Estate	Added	2,611,874	+35,600	$213,599,055	+7.1%	2.24%
SRE	Sempra Utilities	Added	2,086,667	+48	$202,761,431	+10.1%	2.13%
XEL	Xcel Energy Inc Utilities	Added	2,424,903	+72,516	$192,634,293	+10.9%	2.02%
NEE	Nextera Energy Inc Utilities	Reduced	1,921,380	-146,934	$178,457,774	+7.5%	1.87%
ETR	Entergy Corp /De/ Utilities	Reduced	1,532,230	-47,225	$172,161,362	+17.9%	1.81%
CNP	Centerpoint Energy Inc Utilities	Added	3,866,699	+55,457	$166,886,728	+14.2%	1.75%
SPG	Simon Property Group Inc. Real Estate	Reduced	867,361	-10,325	$161,788,847	−0.4%	1.70%
IRM	Iron Mountain Inc Real Estate	Reduced	1,575,337	-5,115	$160,904,920	+22.7%	1.69%
AMT	American Tower Corp /Ma/ Real Estate	Added	920,890	+3,035	$158,927,195	−1.4%	1.67%
PSA	Public Storage Real Estate	Added	553,190	+103,780	$149,848,106	+28.5%	1.57%
NI	Nisource Inc. Utilities	Added	3,106,640	+34	$144,955,821	+11.7%	1.52%
WMB	Williams Companies, Inc. Energy	Added	1,932,786	+67,158	$140,668,163	+25.4%	1.48%
LNT	Alliant Energy Corp Utilities	Reduced	1,898,175	-347	$136,213,037	+10.4%	1.43%
EVRG	Evergy, Inc. Utilities	Reduced	1,655,860	-60,075	$135,648,050	+9.1%	1.42%
AVB	Avalonbay Communities Inc Real Estate	Reduced	806,750	-133,315	$131,782,612	−22.7%	1.38%
BRX	Brixmor Property Group Inc. Real Estate	Added	4,482,893	+52,350	$129,107,317	+11.1%	1.35%
AMH	American Homes 4 Rent Real Estate	Added	4,576,997	+20,600	$127,789,756	−12.6%	1.34%
TRGP	Targa Resources Corp. Energy	Reduced	509,397	-13,149	$127,721,109	+32.5%	1.34%
AEE	Ameren Corp Utilities	Reduced	1,159,881	-45,060	$127,494,119	+6.0%	1.34%
FR	First Industrial Realty Trust Inc Real Estate	Added	2,195,608	+11,200	$127,015,922	+1.5%	1.33%
DUK	Duke Energy CORP Utilities	Added	896,997	+217	$117,452,786	+11.7%	1.23%
DTE	Dte Energy Co Utilities	Added	792,462	+16	$115,873,792	+13.4%	1.22%
PPL	PPL Corp Utilities	Reduced	3,015,392	-40,229	$115,187,974	+7.6%	1.21%
WEC	Wec Energy Group, Inc. Utilities	Added	981,349	+155	$113,610,772	+9.8%	1.19%
CMS	Cms Energy Corp Utilities	Held	1,453,667	0	$112,775,485	+10.9%	1.18%
ATO	Atmos Energy Corp Utilities	Reduced	607,945	-44,361	$112,299,600	+2.7%	1.18%
LNG	Cheniere Energy, Inc. Energy	Reduced	371,015	-91,480	$105,279,215	+17.1%	1.10%
EPRT	Essential Properties Realty Trust, Inc. Real Estate	Added	3,431,442	+6,600	$104,178,579	+2.6%	1.09%
MAA	Mid America Apartment Communities Inc. Real Estate	Reduced	849,743	-350	$103,770,615	−12.1%	1.09%
SO	Southern Co Utilities	Reduced	1,073,294	-164,923	$103,594,335	−4.1%	1.09%
TRP	Tc Energy Corp Energy	Reduced	1,626,340	-70,304	$101,808,883	+9.1%	1.07%
OGE	Oge Energy Corp. Utilities	Reduced	2,096,384	-45	$100,542,575	+12.3%	1.05%
CUBE	CubeSmart Real Estate	Added	2,737,656	+18,025	$100,335,092	+2.3%	1.05%
AEP	American Electric Power Co Inc Utilities	Held	762,162	0	$99,904,194	+13.7%	1.05%
D	Dominion Energy, Inc Utilities	Added	1,572,229	+79,654	$97,195,196	+11.1%	1.02%
CCI	Crown Castle Inc. Real Estate	Added	1,193,028	+370	$97,005,106	−8.5%	1.02%
PEG	Public Service Enterprise Group Inc Utilities	Added	1,179,584	+193	$95,487,324	+0.8%	1.00%
MPLX	Mplx LP Energy	Reduced	1,668,467	-163,536	$95,219,410	−2.6%	1.00%
OKE	Oneok Inc /New/ Energy	Added	1,030,679	+312,954	$93,163,074	+76.6%	0.98%
ELS	Equity Lifestyle Properties Inc Real Estate	Reduced	1,464,385	-80,735	$91,406,911	−2.4%	0.96%
T	At&T Inc. Communication Services	Held	3,140,500	0	$91,043,095	+16.7%	0.95%
PCG	PG&E Corp Utilities	Reduced	5,078,983	-131,967	$89,237,730	+6.6%	0.94%
WTRG	Essential Utilities, Inc. Utilities	Added	2,188,784	+103	$88,142,331	+5.0%	0.92%
SR	Spire Inc Utilities	Reduced	932,582	-50,854	$84,435,974	+3.8%	0.89%
ET	Energy Transfer LP Energy	Added	4,346,738	+580,938	$83,892,043	+35.1%	0.88%
ENB	Enbridge Inc Energy	Added	1,539,163	+175,744	$83,330,283	+27.8%	0.87%