DUFF & PHELPS INVESTMENT MANAGEMENT CO

CIK

765443

Location

CHICAGO, IL

Portfolio Value

Mid $9,533,458,290

Diversification

Diversified

Filing Date

Global Rank

#432 / 8,586 ▲ 35

Top Industry

Utilities - Regulated Electric 26.9%

3Y Alpha vs SPY

-8.2%

Period ended 3 months ago

Filed Apr 28, 2026 · 50d

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

+44.3%

SPY

+78.1%

Annualised alpha

-8.2%

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 51–100 of 144 positions by value · page 2 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CNM	Core & Main, Inc. Industrials	Added	357,111	+59	$17,641,283	−4.9%	0.19%
PNR	PENTAIR plc Industrials	Reduced	219,687	-30,860	$19,136,934	−26.7%	0.20%
WMS	Advanced Drainage Systems, Inc. Industrials	Added	139,629	+23	$19,147,324	−5.3%	0.20%
ECL	Ecolab Inc. Basic Materials	Reduced	74,921	-15,958	$19,930,484	−16.5%	0.21%
KGS	Kodiak Gas Services, Inc. Energy	Reduced	349,051	-113,072	$20,356,654	+17.8%	0.21%
KIM	Kimco Realty Corp Real Estate	Added	956,321	+21,000	$21,488,532	+13.3%	0.23%
SMA	SmartStop Self Storage REIT, Inc. Real Estate	Reduced	831,755	-267,945	$25,185,540	−26.0%	0.26%
FER	Ferrovial N.V. Industrials	NEW	395,900	NEW	$25,753,295	NEW	0.27%
BCE	Bce Inc Communication Services	Held	1,127,288	0	$28,452,749	+6.0%	0.30%
ES	Eversource Energy Utilities	Reduced	424,140	-183,480	$29,384,419	−28.2%	0.31%
BKH	Black Hills Corp /Sd/ Utilities	Added	459,540	+69,840	$31,896,671	+17.9%	0.33%
NWN	Northwest Natural Holding Co Utilities	Reduced	613,090	-243,620	$32,628,649	−18.5%	0.34%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Added	424,550	+54,038	$33,395,102	+22.4%	0.35%
TU	Telus Corp Communication Services	Held	2,666,500	0	$34,211,195	−2.6%	0.36%
XYL	Xylem Inc. Industrials	Reduced	304,391	-65,519	$36,374,724	−27.8%	0.38%
VLTO	Veralto Corp Industrials	Added	412,587	+56,196	$36,480,942	+2.6%	0.38%
CSX	Csx Corp Industrials	Added	912,188	+107,073	$37,445,317	+28.3%	0.39%
REXR	Rexford Industrial Realty, Inc. Real Estate	Added	1,157,445	+11,755	$37,883,174	−14.6%	0.40%
PBA	Pembina Pipeline Corp Energy	Reduced	859,602	-103,474	$38,475,785	+5.0%	0.40%
PAA	Plains All American Pipeline LP Energy	Reduced	1,776,900	-400,000	$39,678,177	+1.5%	0.42%
VNO	Vornado Realty Trust Real Estate	Added	1,535,960	+69,250	$39,919,600	−18.2%	0.42%
PEB	Pebblebrook Hotel Trust Real Estate	NEW	3,186,450	NEW	$40,244,863	NEW	0.42%
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp Utilities	Added	1,447,185	+2,557	$44,153,614	+28.2%	0.46%
ARE	Alexandria Real Estate Equities, Inc. Real Estate	Reduced	972,721	-27,125	$45,153,708	−7.7%	0.47%
BXP	BXP, Inc. Real Estate	Added	888,831	+9,700	$46,130,328	−22.2%	0.48%
CUZ	Cousins Properties Inc Real Estate	Added	2,130,177	+38,450	$48,078,094	−10.8%	0.50%
OGS	ONE Gas, Inc. Utilities	Held	576,000	0	$49,610,880	+11.5%	0.52%
KMI	Kinder Morgan, Inc. Energy	Reduced	1,503,744	-931,059	$50,420,535	−24.7%	0.53%
GLPI	Gaming & Leisure Properties, Inc. Real Estate	Added	1,136,549	+22,250	$50,428,678	+1.3%	0.53%
AHR	American Healthcare REIT, Inc. Real Estate	Added	1,083,175	+754,900	$51,082,533	+230.7%	0.54%
SBRA	Sabra Health Care REIT, Inc. Real Estate	Added	2,828,445	+39,650	$54,390,996	+3.0%	0.57%
FTS	Fortis Inc. Utilities	Held	981,900	0	$54,780,201	+7.4%	0.57%
DTM	DT Midstream, Inc. Energy	Added	420,186	+51,138	$56,586,447	+28.1%	0.59%
EPD	Enterprise Products Partners L.P. Energy	Reduced	1,560,173	-1,110	$59,036,946	+17.9%	0.62%
UNP	Union Pacific Corp Industrials	Added	256,470	+49,148	$62,224,751	+29.7%	0.65%
PNW	Pinnacle West Capital Corp Utilities	Held	624,930	0	$62,961,697	+13.6%	0.66%
FE	Firstenergy Corp Utilities	Held	1,304,500	0	$66,085,970	+13.2%	0.69%
VZ	Verizon Communications Inc Communication Services	Held	1,339,489	0	$67,242,347	+23.3%	0.71%
PECO	Phillips Edison & Company, Inc. Real Estate	Added	1,801,516	+13,090	$67,412,727	+6.0%	0.71%
EMA	Emera Inc Utilities	NEW	1,349,450	NEW	$69,995,971	NEW	0.73%
RHP	Ryman Hospitality Properties, Inc. Real Estate	Added	780,153	+3,900	$71,984,716	−2.0%	0.76%
AWK	American Water Works Company, Inc. Utilities	Added	552,780	+103,758	$75,227,830	+28.4%	0.79%
ADC	Agree Realty Corp Real Estate	Added	1,010,118	+52,175	$76,142,694	+10.4%	0.80%
ESS	Essex Property Trust, Inc. Real Estate	Reduced	326,257	-2,400	$78,954,194	−8.2%	0.83%
ENB	Enbridge Inc Energy	Added	1,539,163	+175,744	$83,330,283	+27.8%	0.87%
ET	Energy Transfer LP Energy	Added	4,346,738	+580,938	$83,892,043	+35.1%	0.88%
SR	Spire Inc Utilities	Reduced	932,582	-50,854	$84,435,974	+3.8%	0.89%
WTRG	Essential Utilities, Inc. Utilities	Added	2,188,784	+103	$88,142,331	+5.0%	0.92%
PCG	PG&E Corp Utilities	Reduced	5,078,983	-131,967	$89,237,730	+6.6%	0.94%
T	At&T Inc. Communication Services	Held	3,140,500	0	$91,043,095	+16.7%	0.95%