Duff & Phelps Investment Management Co.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed July 24, 2026), Duff & Phelps Investment Management Co. reported 148 stock positions worth $9.6 billion. Its top holding was Welltower (WELL) at 5.4% of the portfolio, followed by Equinix (EQIX, 4.8%) and Prologis (PLD, 4.1%). Compared with Q4 2025, it opened 8 new positions, sold out of 6, added to 67 and reduced 54. The biggest buy was a new position in Emera (EMA) and the biggest sale Avalonbay Communities (AVB, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0000765443
- Portfolio Value
- $9.6B (Q1 2026)
- SEC Filing
- 0001140361-26-029563 ↗ filed Jul 24, 2026
Holdings Value
Holdings 148 stocks · $9.6B
| WELL Welltower Inc. | 5.40% | 2,632,540 | $520.5M | Add +0.9% |
| EQIX Equinix Inc. | 4.81% | 472,583 | $463.2M | Reduce -1.2% |
| PLD Prologis Inc. | 4.10% | 2,989,856 | $395.2M | Reduce -5.3% |
| DLR Digital Realty Trust Inc. | 2.89% | 1,546,930 | $278.8M | Add +0.3% |
| VTR Ventas Inc. | 2.22% | 2,611,874 | $213.6M | Add +1.4% |
| SRE Sempra | 2.11% | 2,086,667 | $202.8M | Add +0.0% |
| XEL Xcel Energy Inc. | 2.00% | 2,424,903 | $192.6M | Add +3.1% |
| NEE Nextera Energy Inc. | 1.85% | 1,921,380 | $178.5M | Reduce -7.1% |
| ETR Entergy Corp. | 1.79% | 1,532,230 | $172.2M | Reduce -3.0% |
| CNP Centerpoint Energy Inc. | 1.73% | 3,866,699 | $166.9M | Add +1.5% |
| SPG Simon Property Group Inc. | 1.68% | 867,361 | $161.8M | Reduce -1.2% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 1.67% | 1,575,337 | $160.9M | Reduce -0.3% |
| AMT American Tower Corp. | 1.65% | 920,890 | $158.9M | Add +0.3% |
| PSA Public Storage | 1.56% | 553,190 | $149.8M | Add +23.1% |
| NI Nisource Inc. | 1.51% | 3,106,640 | $145.0M | Add +0.0% |
| WMB Williams Cos Inc. | 1.46% | 1,932,786 | $140.7M | Add +3.6% |
| LNT Alliant Energy Corp. | 1.41% | 1,898,175 | $136.2M | Reduce -0.0% |
| EVRG Evergy Inc. | 1.41% | 1,655,860 | $135.6M | Reduce -3.5% |
| AVB Avalonbay Communities Inc. | 1.37% | 806,750 | $131.8M | Reduce -14.2% |
| BRX Brixmor Property Group Inc. | 1.34% | 4,482,893 | $129.1M | Add +1.2% |
| AMH American Homes 4 Rent- A | 1.33% | 4,576,997 | $127.8M | Add +0.5% |
| TRGP Targa Resources Corp. | 1.33% | 509,397 | $127.7M | Reduce -2.5% |
| AEE Ameren Corporation | 1.32% | 1,159,881 | $127.5M | Reduce -3.7% |
| FR First Industrial Realty TR | 1.32% | 2,195,608 | $127.0M | Add +0.5% |
| DUK Duke Energy Corp. | 1.22% | 896,997 | $117.5M | Add +0.0% |
| DTE DTE Energy Company | 1.20% | 792,462 | $115.9M | Add +0.0% |
| PPL PPL Corp. | 1.20% | 3,015,392 | $115.2M | Reduce -1.3% |
| WEC WEC Energy Group Inc. | 1.18% | 981,349 | $113.6M | Add +0.0% |
| CMS CMS Energy Corp. | 1.17% | 1,453,667 | $112.8M | No change |
| ATO Atmos Energy Corp. | 1.17% | 607,945 | $112.3M | Reduce -6.8% |
| LNG Cheniere Energy Inc. | 1.09% | 371,015 | $105.3M | Reduce -19.8% |
| EPRT Essential Properties Realty | 1.08% | 3,431,442 | $104.2M | Add +0.2% |
| MAA Mid-America Apartment Comm | 1.08% | 849,743 | $103.8M | Reduce -0.0% |
| SO The Southern Co. | 1.08% | 1,073,294 | $103.6M | Reduce -13.3% |
| TRP TC Energy Corp. | 1.06% | 1,626,340 | $101.8M | Reduce -4.1% |
| OGE Oge Energy Corp. | 1.04% | 2,096,384 | $100.5M | Reduce 0.0% |
| CUBE Cubesmart | 1.04% | 2,737,656 | $100.3M | Add +0.7% |
| AEP American Electric Power | 1.04% | 762,162 | $99.9M | No change |
| EMA Emera Inc. | 1.01% | 1,349,450 | $97.3M | New |
| D Dominion Energy Inc. | 1.01% | 1,572,229 | $97.2M | Add +5.3% |
| CCI Crown Castle Inc. | 1.01% | 1,193,028 | $97.0M | Add +0.0% |
| PEG Public Service Enterprise GP | 0.99% | 1,179,584 | $95.5M | Add +0.0% |
| MPLX MPLX LP | 0.99% | 1,668,467 | $95.2M | Reduce -8.9% |
| OKE Oneok Inc. | 0.97% | 1,030,679 | $93.2M | Add +43.6% |
| ELS Equity Lifestyle Properties | 0.95% | 1,464,385 | $91.4M | Reduce -5.2% |
| T AT&T Inc. | 0.95% | 3,140,500 | $91.0M | No change |
| PCG P G & E Corp. | 0.93% | 5,078,983 | $89.2M | Reduce -2.5% |
| WTRG Essential Utilities Inc. | 0.92% | 2,188,784 | $88.1M | Add +0.0% |
| SR Spire Inc. | 0.88% | 932,582 | $84.4M | Reduce -5.2% |
| ET Energy Transfer LP | 0.87% | 4,346,738 | $83.9M | Add +15.4% |
| ENB Enbridge Inc. | 0.87% | 1,539,163 | $83.3M | Add +12.9% |
| ESS Essex Property Trust Inc. | 0.82% | 326,257 | $79.0M | Reduce -0.7% |
| FTS Fortis Inc. | 0.79% | 981,900 | $76.2M | No change |
| ADC Agree Realty Corp. | 0.79% | 1,010,118 | $76.1M | Add +5.5% |
| AWK American Water Works Co. Inc. | 0.78% | 552,780 | $75.2M | Add +23.1% |
| RHP Ryman Hospitality Properties | 0.75% | 780,153 | $72.0M | Add +0.5% |
| PECO Phillips Edison & Company Inc. | 0.70% | 1,801,516 | $67.4M | Add +0.7% |
| VZ Verizon Communications Inc. | 0.70% | 1,339,489 | $67.2M | No change |
| FE Firstenergy Corp. | 0.69% | 1,304,500 | $66.1M | No change |
| PNW Pinnacle West Capital | 0.65% | 624,930 | $63.0M | No change |
| UNP Union Pacific Corp. | 0.65% | 256,470 | $62.2M | Add +23.7% |
| EPD Enterprise Products Partners | 0.61% | 1,560,173 | $59.0M | Reduce -0.1% |
| DTM DT Midstream Inc. | 0.59% | 420,186 | $56.6M | Add +13.9% |
| SBRA Sabra Health Care REIT Inc. | 0.56% | 2,828,445 | $54.4M | Add +1.4% |
| PBA Pembina Pipeline Corp. | 0.55% | 859,602 | $52.9M | Reduce -10.7% |
| AHR American Healthcare REIT Inc. | 0.53% | 1,083,175 | $51.1M | Add +230.0% |
| GLPI Gaming and Leisure Propertie | 0.52% | 1,136,549 | $50.4M | Add +2.0% |
| KMI Kinder Morgan Inc. | 0.52% | 1,503,744 | $50.4M | Reduce -38.2% |
| OGS One Gas Inc. | 0.52% | 576,000 | $49.6M | No change |
| CUZ Cousins Properties Inc. | 0.50% | 2,130,177 | $48.1M | Add +1.8% |
| TU Telus Corp. | 0.50% | 2,666,500 | $47.7M | No change |
| CP Canadian Pacific Kansas City | 0.48% | 424,550 | $46.5M | Add +14.6% |
| BXP BXP Inc. | 0.48% | 888,831 | $46.1M | Add +1.1% |
| ARE Alexandria Real Estate Equit | 0.47% | 972,721 | $45.2M | Reduce -2.7% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.46% | 1,447,185 | $44.2M | Add +0.2% |
| PEB Pebblebrook Hotel Trust | 0.42% | 3,186,450 | $40.2M | New |
| VNO Vornado Realty Trust | 0.41% | 1,535,960 | $39.9M | Add +4.7% |
| PAA Plains All Amer Pipeline LP | 0.41% | 1,776,900 | $39.7M | Reduce -18.4% |
| REXR Rexford Industrial Realty Inc. | 0.39% | 1,157,445 | $37.9M | Add +1.0% |
| CSX CSX Corp. | 0.39% | 912,188 | $37.4M | Add +13.3% |
| VLTO Veralto Corp. | 0.38% | 412,587 | $36.5M | Add +15.8% |
| XYL Xylem Inc. | 0.38% | 304,391 | $36.4M | Reduce -17.7% |
| NWN Northwest Natural Holding Co. | 0.34% | 613,090 | $32.6M | Reduce -28.4% |
| BKH Black Hills Corp. | 0.33% | 459,540 | $31.9M | Add +17.9% |
| ES Eversource Energy | 0.31% | 424,140 | $29.4M | Reduce -30.2% |
| BCE Bce Inc. | 0.30% | 1,127,288 | $28.5M | No change |
| SMA Smartstop Self Storage REIT | 0.26% | 831,755 | $25.2M | Reduce -24.4% |
| FER Ferrovial NV | 0.23% | 395,900 | $21.9M | New |
| KIM Kimco Realty Corp. | 0.22% | 956,321 | $21.5M | Add +2.3% |
| KGS Kodiak Gas Services Inc. | 0.21% | 349,051 | $20.4M | Reduce -24.5% |
| ECL Ecolab Inc. | 0.21% | 74,921 | $19.9M | Reduce -17.6% |
| WMS Advanced Drainage Systems Inc. | 0.20% | 139,629 | $19.1M | Add +0.0% |
| PNR Pentair PLC | 0.20% | 219,687 | $19.1M | Reduce -12.3% |
| CNM Core & Main Inc. Class A | 0.18% | 357,111 | $17.6M | Add +0.0% |
| GFL GFL Environmental Inc.-Sub VT | 0.15% | 353,327 | $14.7M | Add +9.1% |
| VMI Valmont Industries | 0.14% | 34,557 | $13.8M | Reduce -26.3% |
| MWA Mueller Water Products Inc. Class A | 0.14% | 492,139 | $13.5M | Reduce -10.2% |
| WTS Watts Water Technologies-A | 0.11% | 37,353 | $10.8M | Add +10.2% |
| WM Waste Management Inc. | 0.10% | 43,567 | $10.0M | Add +14.0% |
| EIX Edison International | 0.09% | 123,600 | $9.0M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| AVB Avalonbay Communities Inc. | Reduce -14.2% | 1.37% | −0.56 |
| PLD Prologis Inc. | Reduce -5.3% | 4.10% | −0.46 |
| KEYUF Keyera Corp. | Sold out | 0.00% | −0.44 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.38 |
| MAA Mid-America Apartment Comm | Reduce -0.0% | 1.08% | −0.26 |
| KMI Kinder Morgan Inc. | Reduce -38.2% | 0.52% | −0.24 |
| XYL Xylem Inc. | Reduce -17.7% | 0.38% | −0.19 |
| SPG Simon Property Group Inc. | Reduce -1.2% | 1.68% | −0.16 |
| ES Eversource Energy | Reduce -30.2% | 0.31% | −0.16 |
| ESS Essex Property Trust Inc. | Reduce -0.7% | 0.82% | −0.15 |
| SO The Southern Co. | Reduce -13.3% | 1.08% | −0.15 |
| SMA Smartstop Self Storage REIT | Reduce -24.4% | 0.26% | −0.12 |
| MPLX MPLX LP | Reduce -8.9% | 0.99% | −0.12 |
| NWN Northwest Natural Holding Co. | Reduce -28.4% | 0.34% | −0.12 |
| ELS Equity Lifestyle Properties | Reduce -5.2% | 0.95% | −0.11 |
| PNR Pentair PLC | Reduce -12.3% | 0.20% | −0.10 |
| ARE Alexandria Real Estate Equit | Reduce -2.7% | 0.47% | −0.09 |
| ATO Atmos Energy Corp. | Reduce -6.8% | 1.17% | −0.07 |
| TMO Thermo Fisher Scientific Inc. | Reduce -56.8% | 0.04% | −0.07 |
| VMI Valmont Industries | Reduce -26.3% | 0.14% | −0.07 |
| KNTK Kinetik Holdings Inc. | Sold out | 0.00% | −0.07 |
| ECL Ecolab Inc. | Reduce -17.6% | 0.21% | −0.06 |
| KEYUF Keyera Corp.-Sub RCT | Sold out | 0.00% | −0.06 |
| ERII Energy Recovery Inc. | Sold out | 0.00% | −0.05 |
| SR Spire Inc. | Reduce -5.2% | 0.88% | −0.05 |
| AEE Ameren Corporation | Reduce -3.7% | 1.32% | −0.04 |
| BMI Badger Meter Inc. | Reduce -17.0% | 0.07% | −0.03 |
| FELE Franklin Electric Co. Inc. | Reduce -18.3% | 0.09% | −0.03 |
| PAA Plains All Amer Pipeline LP | Reduce -18.4% | 0.41% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -7.1% | 1.85% | −0.03 |
| DHR Danaher Corp. | Reduce -7.8% | 0.06% | −0.03 |
| PCG P G & E Corp. | Reduce -2.5% | 0.93% | −0.02 |
| PPL PPL Corp. | Reduce -1.3% | 1.20% | −0.02 |
| STN Stantec Inc. | Reduce -24.5% | 0.06% | −0.01 |
| MWA Mueller Water Products Inc. Class A | Reduce -10.2% | 0.14% | −0.01 |
| IEX Idex Corp. | Reduce -4.6% | 0.08% | −0.01 |
| GBNXF Gibson Energy Inc. | Sold out | 0.00% | −0.01 |
| SCHP Schwab U.S. Tips ETF | Reduce -16.7% | 0.01% | −0.00 |
| GDX Vaneck Gold Miners ETF | Reduce -12.4% | 0.02% | −0.00 |
| DBA Invesco DB Agriculture Fund | Reduce -35.1% | 0.00% | −0.00 |
| CCJ Cameco Corp. | Reduce -29.2% | 0.01% | −0.00 |
| EVRG Evergy Inc. | Reduce -3.5% | 1.41% | −0.00 |
| TRP TC Energy Corp. | Reduce -4.1% | 1.06% | −0.00 |
| HUBB Hubbell Inc. | Reduce -6.9% | 0.01% | −0.00 |
| EQT Eqt Corp. | Reduce -2.0% | 0.01% | +0.00 |
| GEV GE Vernova Inc. | Reduce -6.8% | 0.01% | +0.00 |
| PAGP Plains GP Holdings LP | Reduce -8.8% | 0.02% | +0.00 |
| AROC Archrock Inc. | Reduce -2.0% | 0.01% | +0.00 |
| GNR State Street SPDR S&P Global | Reduce -2.7% | 0.04% | +0.00 |
| BE Bloom Energy Corp. Class A | Reduce -16.3% | 0.04% | +0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| EMA Emera Inc. | New | 1.01% | +1.01 |
| PEB Pebblebrook Hotel Trust | New | 0.42% | +0.42 |
| OKE Oneok Inc. | Add +43.6% | 0.97% | +0.37 |
| AHR American Healthcare REIT Inc. | Add +230.0% | 0.53% | +0.36 |
| PSA Public Storage | Add +23.1% | 1.56% | +0.23 |
| FER Ferrovial NV | New | 0.23% | +0.23 |
| WMB Williams Cos Inc. | Add +3.6% | 1.46% | +0.19 |
| DLR Digital Realty Trust Inc. | Add +0.3% | 2.89% | +0.19 |
| CP Canadian Pacific Kansas City | Add +14.6% | 0.48% | +0.17 |
| ET Energy Transfer LP | Add +15.4% | 0.87% | +0.17 |
| ENB Enbridge Inc. | Add +12.9% | 0.87% | +0.13 |
| AWK American Water Works Co. Inc. | Add +23.1% | 0.78% | +0.12 |
| UNP Union Pacific Corp. | Add +23.7% | 0.65% | +0.10 |
| DTM DT Midstream Inc. | Add +13.9% | 0.59% | +0.09 |
| SWX Southwest Gas Holdings Inc. | New | 0.08% | +0.08 |
| CNP Centerpoint Energy Inc. | Add +1.5% | 1.73% | +0.08 |
| HTO H2O America | New | 0.07% | +0.07 |
| SBS Cia Saneamento Basico DE-ADR | Add +0.2% | 0.46% | +0.07 |
| CSX CSX Corp. | Add +13.3% | 0.39% | +0.06 |
| DTE DTE Energy Company | Add +0.0% | 1.20% | +0.04 |
| AWR American States Water Co. | New | 0.04% | +0.04 |
| CWT California Water Service Grp | New | 0.04% | +0.04 |
| NI Nisource Inc. | Add +0.0% | 1.51% | +0.03 |
| XEL Xcel Energy Inc. | Add +3.1% | 2.00% | +0.03 |
| DUK Duke Energy Corp. | Add +0.0% | 1.22% | +0.03 |
| BKH Black Hills Corp. | Add +17.9% | 0.33% | +0.02 |
| BRX Brixmor Property Group Inc. | Add +1.2% | 1.34% | +0.02 |
| D Dominion Energy Inc. | Add +5.3% | 1.01% | +0.02 |
| SRE Sempra | Add +0.0% | 2.11% | +0.02 |
| TTEK Tetra Tech Inc. | Add +64.0% | 0.07% | +0.02 |
| NXT Nextpower Inc. | Add +15.6% | 0.05% | +0.02 |
| FERG Ferguson Enterprises Inc. | Add +30.1% | 0.06% | +0.01 |
| SUNC Sunococorp LLC | Add +1.6% | 0.07% | +0.01 |
| WM Waste Management Inc. | Add +14.0% | 0.10% | +0.01 |
| ADC Agree Realty Corp. | Add +5.5% | 0.79% | +0.01 |
| KIM Kimco Realty Corp. | Add +2.3% | 0.22% | +0.01 |
| DBC Invesco DB Commodity Index T | Add +41.3% | 0.02% | +0.01 |
| WEC WEC Energy Group Inc. | Add +0.0% | 1.18% | +0.01 |
| WTS Watts Water Technologies-A | Add +10.2% | 0.11% | +0.01 |
| ENPH Enphase Energy Inc. | Add +43.9% | 0.02% | +0.01 |
| SEDG Solaredge Technologies Inc. | Add +34.4% | 0.01% | +0.01 |
| PLUG Plug Power Inc. | Add +54.5% | 0.01% | +0.00 |
| HST Host Hotels & Resorts Inc. | Add +6.4% | 0.07% | +0.00 |
| CWEN Clearway Energy Inc. Class C | Add +10.3% | 0.02% | +0.00 |
| ZWS Zurn Elkay Water Solutions C | Add +15.6% | 0.08% | +0.00 |
| EGP Eastgroup Properties Inc. | Add +15.6% | 0.01% | +0.00 |
| ARRY Array Technologies Inc. | Add +51.7% | 0.00% | +0.00 |
| TEL Te Connectivity PLC | Add +20.3% | 0.01% | +0.00 |
| ACM Aecom | New | 0.00% | 0.00 |
| ORA Ormat Technologies Inc. | Add +5.8% | 0.02% | −0.00 |
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 |