DUFF & PHELPS INVESTMENT MANAGEMENT CO

CIK

765443

Location

CHICAGO, IL

Portfolio Value

Mid $3,454,914,764

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 · 49d

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

41 positions · $3,454,914,764 total · Utilities only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SRE	Sempra Utilities	Added	2,086,667	+48	$202,761,431	+10.1%	5.87%
XEL	Xcel Energy Inc Utilities	Added	2,424,903	+72,516	$192,634,293	+10.9%	5.58%
NEE	Nextera Energy Inc Utilities	Reduced	1,921,380	-146,934	$178,457,774	+7.5%	5.17%
ETR	Entergy Corp /De/ Utilities	Reduced	1,532,230	-47,225	$172,161,362	+17.9%	4.98%
CNP	Centerpoint Energy Inc Utilities	Added	3,866,699	+55,457	$166,886,728	+14.2%	4.83%
NI	Nisource Inc. Utilities	Added	3,106,640	+34	$144,955,821	+11.7%	4.20%
LNT	Alliant Energy Corp Utilities	Reduced	1,898,175	-347	$136,213,037	+10.4%	3.94%
EVRG	Evergy, Inc. Utilities	Reduced	1,655,860	-60,075	$135,648,050	+9.1%	3.93%
AEE	Ameren Corp Utilities	Reduced	1,159,881	-45,060	$127,494,119	+6.0%	3.69%
DUK	Duke Energy CORP Utilities	Added	896,997	+217	$117,452,786	+11.7%	3.40%
DTE	Dte Energy Co Utilities	Added	792,462	+16	$115,873,792	+13.4%	3.35%
PPL	PPL Corp Utilities	Reduced	3,015,392	-40,229	$115,187,974	+7.6%	3.33%
WEC	Wec Energy Group, Inc. Utilities	Added	981,349	+155	$113,610,772	+9.8%	3.29%
CMS	Cms Energy Corp Utilities	Held	1,453,667	0	$112,775,485	+10.9%	3.26%
ATO	Atmos Energy Corp Utilities	Reduced	607,945	-44,361	$112,299,600	+2.7%	3.25%
SO	Southern Co Utilities	Reduced	1,073,294	-164,923	$103,594,335	−4.1%	3.00%
OGE	Oge Energy Corp. Utilities	Reduced	2,096,384	-45	$100,542,575	+12.3%	2.91%
AEP	American Electric Power Co Inc Utilities	Held	762,162	0	$99,904,194	+13.7%	2.89%
D	Dominion Energy, Inc Utilities	Added	1,572,229	+79,654	$97,195,196	+11.1%	2.81%
PEG	Public Service Enterprise Group Inc Utilities	Added	1,179,584	+193	$95,487,324	+0.8%	2.76%
PCG	PG&E Corp Utilities	Reduced	5,078,983	-131,967	$89,237,730	+6.6%	2.58%
WTRG	Essential Utilities, Inc. Utilities	Added	2,188,784	+103	$88,142,331	+5.0%	2.55%
SR	Spire Inc Utilities	Reduced	932,582	-50,854	$84,435,974	+3.8%	2.44%
AWK	American Water Works Company, Inc. Utilities	Added	552,780	+103,758	$75,227,830	+28.4%	2.18%
EMA	Emera Inc Utilities	NEW	1,349,450	NEW	$69,995,971	NEW	2.03%
FE	Firstenergy Corp Utilities	Held	1,304,500	0	$66,085,970	+13.2%	1.91%
PNW	Pinnacle West Capital Corp Utilities	Held	624,930	0	$62,961,697	+13.6%	1.82%
FTS	Fortis Inc. Utilities	Held	981,900	0	$54,780,201	+7.4%	1.59%
OGS	ONE Gas, Inc. Utilities	Held	576,000	0	$49,610,880	+11.5%	1.44%
SBS	Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp Utilities	Added	1,447,185	+2,557	$44,153,614	+28.2%	1.28%
NWN	Northwest Natural Holding Co Utilities	Reduced	613,090	-243,620	$32,628,649	−18.5%	0.94%
BKH	Black Hills Corp /Sd/ Utilities	Added	459,540	+69,840	$31,896,671	+17.9%	0.92%
ES	Eversource Energy Utilities	Reduced	424,140	-183,480	$29,384,419	−28.2%	0.85%
EIX	Edison International Utilities	Held	123,600	0	$9,045,048	+21.9%	0.26%
SWX	Southwest Gas Holdings, Inc. Utilities	NEW	85,000	NEW	$7,386,500	NEW	0.21%
HTO	H2o America Utilities	NEW	111,795	NEW	$6,559,012	NEW	0.19%
AWR	American States Water Co Utilities	NEW	51,404	NEW	$3,887,170	NEW	0.11%
CWT	California Water Service Group Utilities	NEW	85,115	NEW	$3,859,114	NEW	0.11%
CWEN	Clearway Energy, Inc. Utilities	Added	50,039	+4,659	$1,966,032	+30.3%	0.06%
ORA	Ormat Technologies, Inc. Utilities	Added	14,743	+812	$1,650,036	+7.2%	0.05%
CEG	Constellation Energy Corp Utilities	Added	3,163	+747	$883,267	+3.5%	0.03%