Duff & Phelps Investment Management Co.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Duff & Phelps Investment Management Co. reported 161 stock positions worth $10.6 billion. Its top holding was Welltower (WELL) at 6.5% of the portfolio, followed by Equinix (EQIX, 4.2%) and Prologis (PLD, 4.1%). Compared with Q1 2026, it opened 16 new positions, sold out of 3, added to 68 and reduced 55. The biggest buy was Welltower (WELL, shares +15%) and the biggest sale Equinix (EQIX, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0000765443
- Portfolio Value
- $10.6B (Q2 2026)
- SEC Filing
- 0001140361-26-032766 ↗ filed Aug 13, 2026
Holdings Value
Holdings 161 stocks · $10.6B
| WELL Welltower Inc. | 6.48% | 3,024,718 | $686.5M | Add +14.9% |
| EQIX Equinix Inc. | 4.20% | 427,032 | $445.1M | Reduce -9.6% |
| PLD Prologis Inc. | 4.12% | 3,225,840 | $437.0M | Add +7.9% |
| DLR Digital Realty Trust Inc. | 2.94% | 1,735,593 | $311.7M | Add +12.2% |
| VTR Ventas Inc. | 2.40% | 2,863,545 | $254.3M | Add +9.6% |
| SPG Simon Property Group Inc. | 2.06% | 975,188 | $218.1M | Add +12.4% |
| PSA Public Storage | 1.92% | 640,120 | $203.8M | Add +15.7% |
| XEL Xcel Energy Inc. | 1.83% | 2,419,977 | $194.3M | Reduce -0.2% |
| SRE Sempra | 1.80% | 2,055,243 | $190.5M | Reduce -1.5% |
| ETR Entergy Corp. | 1.77% | 1,635,463 | $187.8M | Add +6.7% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 1.73% | 1,455,435 | $183.8M | Reduce -7.6% |
| AMH American Homes 4 Rent- A | 1.67% | 5,281,145 | $177.0M | Add +15.4% |
| AVB Avalonbay Communities Inc. | 1.62% | 907,436 | $171.2M | Add +12.5% |
| CNP Centerpoint Energy Inc. | 1.60% | 3,861,232 | $170.0M | Reduce -0.1% |
| AMT American Tower Corp. | 1.60% | 1,039,175 | $170.0M | Add +12.8% |
| AHR American Healthcare REIT Inc. | 1.53% | 3,100,314 | $161.7M | Add +186.2% |
| BRX Brixmor Property Group Inc. | 1.49% | 5,022,252 | $158.4M | Add +12.0% |
| NEE Nextera Energy Inc. | 1.45% | 1,744,585 | $153.1M | Reduce -9.2% |
| FR First Industrial Realty TR | 1.43% | 2,469,752 | $151.4M | Add +12.5% |
| LNT Alliant Energy Corp. | 1.41% | 1,964,325 | $149.9M | Add +3.5% |
| WMB Williams Cos Inc. | 1.40% | 2,000,552 | $148.7M | Add +3.5% |
| NI Nisource Inc. | 1.39% | 3,097,280 | $147.3M | Reduce -0.3% |
| EVRG Evergy Inc. | 1.35% | 1,652,488 | $142.8M | Reduce -0.2% |
| MAA Mid-America Apartment Comm | 1.33% | 1,018,023 | $141.4M | Add +19.8% |
| TRGP Targa Resources Corp. | 1.31% | 518,030 | $138.9M | Add +1.7% |
| AEE Ameren Corporation | 1.29% | 1,206,076 | $136.3M | Add +4.0% |
| CUBE Cubesmart | 1.22% | 3,239,472 | $128.8M | Add +18.3% |
| DTE DTE Energy Company | 1.21% | 841,774 | $128.3M | Add +6.2% |
| ESS Essex Property Trust Inc. | 1.18% | 429,210 | $125.2M | Add +31.6% |
| EPRT Essential Properties Realty | 1.14% | 4,037,057 | $120.5M | Add +17.6% |
| PPL PPL Corp. | 1.13% | 3,287,954 | $119.5M | Add +9.0% |
| WEC WEC Energy Group Inc. | 1.08% | 979,934 | $114.4M | Reduce -0.1% |
| CMS CMS Energy Corp. | 1.05% | 1,453,667 | $111.2M | No change |
| ATO Atmos Energy Corp. | 1.04% | 637,725 | $109.9M | Add +4.9% |
| AEP American Electric Power | 1.03% | 801,532 | $109.7M | Add +5.2% |
| RHP Ryman Hospitality Properties | 1.03% | 851,474 | $109.5M | Add +9.1% |
| LNG Cheniere Energy Inc. | 1.03% | 454,899 | $108.7M | Add +22.6% |
| D Dominion Energy Inc. | 1.01% | 1,569,402 | $107.2M | Reduce -0.2% |
| TRP TC Energy Corp. | 0.97% | 1,547,057 | $102.6M | Reduce -4.9% |
| DUK Duke Energy Corp. | 0.96% | 807,284 | $102.2M | Reduce -10.0% |
| SO The Southern Co. | 0.96% | 1,066,805 | $102.1M | Reduce -0.6% |
| ELS Equity Lifestyle Properties | 0.96% | 1,580,485 | $101.9M | Add +7.9% |
| OGE Oge Energy Corp. | 0.96% | 2,091,246 | $101.8M | Reduce -0.3% |
| CCI Crown Castle Inc. | 0.92% | 1,285,653 | $97.4M | Add +7.8% |
| MPLX MPLX LP | 0.86% | 1,618,467 | $91.2M | Reduce -3.0% |
| EMA Emera Inc. | 0.82% | 1,161,790 | $87.4M | Reduce -13.9% |
| OKE Oneok Inc. | 0.82% | 994,844 | $86.5M | Reduce -3.5% |
| PECO Phillips Edison & Company Inc. | 0.79% | 2,006,105 | $83.5M | Add +11.4% |
| ADC Agree Realty Corp. | 0.79% | 1,100,957 | $83.4M | Add +9.0% |
| ET Energy Transfer LP | 0.79% | 4,359,713 | $83.4M | Add +0.3% |
| FTS Fortis Inc. | 0.75% | 981,900 | $79.8M | No change |
| WTRG Essential Utilities Inc. | 0.74% | 2,054,683 | $78.7M | Reduce -6.1% |
| UNP Union Pacific Corp. | 0.74% | 286,926 | $78.0M | Add +11.9% |
| SR Spire Inc. | 0.71% | 967,949 | $75.6M | Add +3.8% |
| PCG P G & E Corp. | 0.70% | 4,421,644 | $74.4M | Reduce -12.9% |
| VNO Vornado Realty Trust | 0.69% | 1,861,939 | $73.2M | Add +21.2% |
| CUZ Cousins Properties Inc. | 0.67% | 2,381,815 | $71.4M | Add +11.8% |
| ENB Enbridge Inc. | 0.67% | 1,316,326 | $71.4M | Reduce -14.5% |
| AWK American Water Works Co. Inc. | 0.65% | 521,915 | $68.7M | Reduce -5.6% |
| PNW Pinnacle West Capital | 0.63% | 624,930 | $66.9M | No change |
| PEG Public Service Enterprise GP | 0.62% | 810,985 | $65.8M | Reduce -31.3% |
| BXP BXP Inc. | 0.61% | 982,326 | $65.1M | Add +10.5% |
| T AT&T Inc. | 0.61% | 3,140,500 | $65.0M | No change |
| SBRA Sabra Health Care REIT Inc. | 0.61% | 3,331,616 | $65.0M | Add +17.8% |
| FE Firstenergy Corp. | 0.59% | 1,304,500 | $62.0M | No change |
| CP Canadian Pacific Kansas City | 0.58% | 500,795 | $61.6M | Add +18.0% |
| DTM DT Midstream Inc. | 0.58% | 419,342 | $61.5M | Reduce -0.2% |
| NHP National Healthcare Properti | 0.57% | 4,130,444 | $60.5M | New |
| EPD Enterprise Products Partners | 0.54% | 1,560,173 | $57.4M | No change |
| VZ Verizon Communications Inc. | 0.54% | 1,339,489 | $56.7M | No change |
| GLPI Gaming and Leisure Propertie | 0.53% | 1,265,323 | $56.3M | Add +11.3% |
| PBA Pembina Pipeline Corp. | 0.49% | 799,602 | $51.8M | Reduce -7.0% |
| KMI Kinder Morgan Inc. | 0.46% | 1,511,605 | $48.3M | Add +0.5% |
| CSX CSX Corp. | 0.43% | 948,319 | $45.1M | Add +4.0% |
| OGS One Gas Inc. | 0.42% | 576,000 | $44.4M | No change |
| PEB Pebblebrook Hotel Trust | 0.40% | 2,189,151 | $42.5M | Reduce -31.3% |
| TU Telus Corp. | 0.38% | 2,666,500 | $40.0M | No change |
| XYL Xylem Inc. | 0.38% | 336,526 | $39.8M | Add +10.6% |
| REXR Rexford Industrial Realty Inc. | 0.37% | 1,172,472 | $39.3M | Add +1.3% |
| PAA Plains All Amer Pipeline LP | 0.35% | 1,676,900 | $37.3M | Reduce -5.6% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.35% | 6,400,937 | $37.0M | Reduce -11.5% |
| VLTO Veralto Corp. | 0.34% | 406,872 | $36.1M | Reduce -1.4% |
| BKH Black Hills Corp. | 0.32% | 459,540 | $34.2M | No change |
| SMA Smartstop Self Storage REIT | 0.30% | 967,028 | $31.4M | Add +16.3% |
| NWN Northwest Natural Holding Co. | 0.28% | 613,090 | $30.1M | No change |
| KGS Kodiak Gas Services Inc. | 0.25% | 349,051 | $26.2M | No change |
| BCE Bce Inc. | 0.23% | 1,127,288 | $24.2M | No change |
| KIM Kimco Realty Corp. | 0.22% | 938,081 | $23.8M | Reduce -1.9% |
| FER Ferrovial NV | 0.22% | 392,909 | $23.6M | Reduce -0.8% |
| ARE Alexandria Real Estate Equit | 0.21% | 425,705 | $22.5M | Reduce -56.2% |
| CNM Core & Main Inc. Class A | 0.21% | 455,050 | $22.0M | Add +27.4% |
| ECL Ecolab Inc. | 0.18% | 67,991 | $18.9M | Reduce -9.3% |
| WTS Watts Water Technologies-A | 0.17% | 46,645 | $18.3M | Add +24.9% |
| PNR Pentair PLC | 0.16% | 217,532 | $16.7M | Reduce -1.0% |
| NSC Norfolk Southern Corp. | 0.15% | 49,535 | $15.6M | New |
| WMS Advanced Drainage Systems Inc. | 0.15% | 98,489 | $15.5M | Reduce -29.5% |
| ZWS Zurn Elkay Water Solutions C | 0.12% | 253,751 | $12.8M | Add +49.2% |
| SWX Southwest Gas Holdings Inc. | 0.12% | 141,569 | $12.6M | Add +66.5% |
| MWA Mueller Water Products Inc. Class A | 0.11% | 468,312 | $12.1M | Reduce -4.8% |
| VMI Valmont Industries | 0.11% | 19,568 | $11.3M | Reduce -43.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $12K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | 200 | $12K | New |
Total filed on the 13F, all lines: $10.6B.
Portfolio Sells Q1 2026 → Q2 2026
| EQIX Equinix Inc. | Reduce -9.6% | 4.20% | −0.61 |
| NEE Nextera Energy Inc. | Reduce -9.2% | 1.45% | −0.41 |
| PEG Public Service Enterprise GP | Reduce -31.3% | 0.62% | −0.37 |
| SRE Sempra | Reduce -1.5% | 1.80% | −0.31 |
| ES Eversource Energy | Sold out | 0.00% | −0.31 |
| ARE Alexandria Real Estate Equit | Reduce -56.2% | 0.21% | −0.26 |
| DUK Duke Energy Corp. | Reduce -10.0% | 0.96% | −0.26 |
| PCG P G & E Corp. | Reduce -12.9% | 0.70% | −0.22 |
| ENB Enbridge Inc. | Reduce -14.5% | 0.67% | −0.19 |
| EMA Emera Inc. | Reduce -13.9% | 0.82% | −0.19 |
| WTRG Essential Utilities Inc. | Reduce -6.1% | 0.74% | −0.17 |
| XEL Xcel Energy Inc. | Reduce -0.2% | 1.83% | −0.17 |
| OKE Oneok Inc. | Reduce -3.5% | 0.82% | −0.15 |
| AWK American Water Works Co. Inc. | Reduce -5.6% | 0.65% | −0.13 |
| MPLX MPLX LP | Reduce -3.0% | 0.86% | −0.13 |
| CNP Centerpoint Energy Inc. | Reduce -0.1% | 1.60% | −0.13 |
| NI Nisource Inc. | Reduce -0.3% | 1.39% | −0.12 |
| SO The Southern Co. | Reduce -0.6% | 0.96% | −0.11 |
| SBS Cia Saneamento Basico DE-ADR | Reduce -11.5% | 0.35% | −0.11 |
| WEC WEC Energy Group Inc. | Reduce -0.1% | 1.08% | −0.10 |
| TRP TC Energy Corp. | Reduce -4.9% | 0.97% | −0.09 |
| OGE Oge Energy Corp. | Reduce -0.3% | 0.96% | −0.08 |
| STN Stantec Inc. | Reduce -100.0% | 0.00% | −0.06 |
| EVRG Evergy Inc. | Reduce -0.2% | 1.35% | −0.06 |
| PBA Pembina Pipeline Corp. | Reduce -7.0% | 0.49% | −0.06 |
| PAA Plains All Amer Pipeline LP | Reduce -5.6% | 0.35% | −0.06 |
| WM Waste Management Inc. | Reduce -45.4% | 0.05% | −0.05 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -18.4% | 0.10% | −0.05 |
| WMS Advanced Drainage Systems Inc. | Reduce -29.5% | 0.15% | −0.05 |
| PNR Pentair PLC | Reduce -1.0% | 0.16% | −0.04 |
| VLTO Veralto Corp. | Reduce -1.4% | 0.34% | −0.04 |
| VMI Valmont Industries | Reduce -43.4% | 0.11% | −0.04 |
| ECL Ecolab Inc. | Reduce -9.3% | 0.18% | −0.03 |
| EIX Edison International | Reduce -22.6% | 0.07% | −0.03 |
| MWA Mueller Water Products Inc. Class A | Reduce -4.8% | 0.11% | −0.03 |
| PEB Pebblebrook Hotel Trust | Reduce -31.3% | 0.40% | −0.02 |
| NXT Nextpower Inc. | Reduce -26.8% | 0.03% | −0.02 |
| SBAC SBA Communications Corp. | Reduce -16.0% | 0.05% | −0.02 |
| TTEK Tetra Tech Inc. | Reduce -8.3% | 0.05% | −0.01 |
| GDX Vaneck Gold Miners ETF | Reduce -48.5% | 0.01% | −0.01 |
| ORA Ormat Technologies Inc. | Reduce -50.4% | 0.01% | −0.01 |
| GNR State Street SPDR S&P Global | Reduce -3.3% | 0.03% | −0.01 |
| RUN Sunrun Inc. | Sold out | 0.00% | −0.01 |
| TEL Te Connectivity PLC | Sold out | 0.00% | −0.01 |
| DTM DT Midstream Inc. | Reduce -0.2% | 0.58% | −0.01 |
| FER Ferrovial NV | Reduce -0.8% | 0.22% | −0.01 |
| CWEN Clearway Energy Inc. Class C | Reduce -2.5% | 0.02% | −0.00 |
| AWR American States Water Co. | Reduce -3.6% | 0.04% | −0.00 |
| CCJ Cameco Corp. | Reduce -16.0% | 0.00% | −0.00 |
| HUBB Hubbell Inc. | Reduce -16.2% | 0.01% | −0.00 |
Portfolio Buys Q1 2026 → Q2 2026
| WELL Welltower Inc. | Add +14.9% | 6.48% | +1.07 |
| AHR American Healthcare REIT Inc. | Add +186.2% | 1.53% | +1.00 |
| NHP National Healthcare Properti | New | 0.57% | +0.57 |
| SPG Simon Property Group Inc. | Add +12.4% | 2.06% | +0.38 |
| PSA Public Storage | Add +15.7% | 1.92% | +0.37 |
| ESS Essex Property Trust Inc. | Add +31.6% | 1.18% | +0.36 |
| AMH American Homes 4 Rent- A | Add +15.4% | 1.67% | +0.34 |
| RHP Ryman Hospitality Properties | Add +9.1% | 1.03% | +0.29 |
| VNO Vornado Realty Trust | Add +21.2% | 0.69% | +0.28 |
| MAA Mid-America Apartment Comm | Add +19.8% | 1.33% | +0.26 |
| AVB Avalonbay Communities Inc. | Add +12.5% | 1.62% | +0.25 |
| VTR Ventas Inc. | Add +9.6% | 2.40% | +0.18 |
| CUZ Cousins Properties Inc. | Add +11.8% | 0.67% | +0.17 |
| CUBE Cubesmart | Add +18.3% | 1.22% | +0.17 |
| BRX Brixmor Property Group Inc. | Add +12.0% | 1.49% | +0.15 |
| NSC Norfolk Southern Corp. | New | 0.15% | +0.15 |
| BXP BXP Inc. | Add +10.5% | 0.61% | +0.14 |
| FR First Industrial Realty TR | Add +12.5% | 1.43% | +0.11 |
| CP Canadian Pacific Kansas City | Add +18.0% | 0.58% | +0.10 |
| UNP Union Pacific Corp. | Add +11.9% | 0.74% | +0.09 |
| PECO Phillips Edison & Company Inc. | Add +11.4% | 0.79% | +0.09 |
| WTS Watts Water Technologies-A | Add +24.9% | 0.17% | +0.06 |
| EPRT Essential Properties Realty | Add +17.6% | 1.14% | +0.06 |
| SBRA Sabra Health Care REIT Inc. | Add +17.8% | 0.61% | +0.05 |
| DLR Digital Realty Trust Inc. | Add +12.2% | 2.94% | +0.05 |
| CWT California Water Service Grp | Add +115.2% | 0.08% | +0.04 |
| SWX Southwest Gas Holdings Inc. | Add +66.5% | 0.12% | +0.04 |
| ZWS Zurn Elkay Water Solutions C | Add +49.2% | 0.12% | +0.04 |
| CSX CSX Corp. | Add +4.0% | 0.43% | +0.04 |
| CEG Constellation Energy | Add +512.5% | 0.05% | +0.04 |
| INVH Invitation Homes Inc. | Add +84.9% | 0.07% | +0.04 |
| SMA Smartstop Self Storage REIT | Add +16.3% | 0.30% | +0.04 |
| FBIN Fortune Brands Innovations I | New | 0.03% | +0.03 |
| HTO H2O America | Add +57.4% | 0.10% | +0.03 |
| WY Weyerhaeuser Co. | Add +69.6% | 0.08% | +0.03 |
| CNM Core & Main Inc. Class A | Add +27.4% | 0.21% | +0.02 |
| VICI Vici Properties Inc. | Add +96.0% | 0.06% | +0.02 |
| EXR Extra Space Storage Inc. | Add +95.8% | 0.05% | +0.02 |
| PLD Prologis Inc. | Add +7.9% | 4.12% | +0.02 |
| IEX Idex Corp. | Add +13.7% | 0.10% | +0.02 |
| DBC Invesco DB Commodity Index T | Add +123.6% | 0.03% | +0.02 |
| ELS Equity Lifestyle Properties | Add +7.9% | 0.96% | +0.01 |
| GLPI Gaming and Leisure Propertie | Add +11.3% | 0.53% | +0.01 |
| FERG Ferguson Enterprises Inc. | Add +22.4% | 0.07% | +0.01 |
| DHR Danaher Corp. | Add +22.4% | 0.07% | +0.01 |
| DTE DTE Energy Company | Add +6.2% | 1.21% | +0.01 |
| ENPH Enphase Energy Inc. | Add +18.8% | 0.02% | +0.01 |
| BMI Badger Meter Inc. | Add +20.9% | 0.07% | +0.00 |
| FSLR First Solar Inc. | Add +5.0% | 0.04% | +0.00 |
| MTDR Matador Resources Co. | New | 0.00% | +0.00 |
Notes & Other Activity Q1 2026 → Q2 2026
| KIMCO REALTY CORP (KIM 7.25 PERP N) | DP CV CL N 7.25% | New | 200 | $12K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 161 | $10.6B | WELL, EQIX, PLD, DLR, VTR |
| Q1 2026Amended | 148 | $9.6B | WELL, EQIX, PLD, DLR, VTR |
| Q4 2025 | 146 | $8.8B | WELL, PLD, EQIX, DLR, VTR |
| Q3 2025 | 151 | $8.8B | WELL, EQIX, PLD, DLR, SRE |
| Q2 2025 | 154 | $8.5B | WELL, EQIX, PLD, DLR, AMT |
| Q1 2025 | 153 | $8.5B | WELL, PLD, EQIX, DLR, VTR |
| Q4 2024 | 156 | $8.4B | EQIX, WELL, PLD, DLR, AVB |
| Q3 2024 | 156 | $8.7B | EQIX, PLD, WELL, AMT, DLR |
| Q2 2024 | 229 | $7.8B | PLD, EQIX, WELL, AMT, AVB |
| Q1 2024 | 249 | $8.4B | PLD, WY, EQIX, AMT, PSA |