Duff & Phelps Investment Management Co.

Name: DUFF & PHELPS INVESTMENT MANAGEMENT CO 13F holdings, Q1 2026
Creator: DUFF & PHELPS INVESTMENT MANAGEMENT CO
Published: 2026-07-24

Q2 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

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
FELE Franklin Electric Co. Inc.	0.09%	89,972	$8.3M	Reduce -18.3%
IEX Idex Corp.	0.08%	42,620	$8.1M	Reduce -4.6%
ZWS Zurn Elkay Water Solutions C	0.08%	170,060	$7.6M	Add +15.6%
SWX Southwest Gas Holdings Inc.	0.08%	85,000	$7.4M	New
HST Host Hotels & Resorts Inc.	0.07%	360,844	$6.9M	Add +6.4%
SBAC SBA Communications Corp.	0.07%	38,902	$6.7M	No change
SUNC Sunococorp LLC	0.07%	107,384	$6.6M	Add +1.6%
BMI Badger Meter Inc.	0.07%	43,111	$6.6M	Reduce -17.0%
HTO H2O America	0.07%	111,795	$6.6M	New
TTEK Tetra Tech Inc.	0.07%	211,038	$6.4M	Add +64.0%
DHR Danaher Corp.	0.06%	32,042	$6.1M	Reduce -7.8%
STN Stantec Inc.	0.06%	49,466	$5.9M	Reduce -24.5%
FERG Ferguson Enterprises Inc.	0.06%	24,853	$5.8M	Add +30.1%
WY Weyerhaeuser Co.	0.06%	218,334	$5.3M	No change
OMAB Grupo Aeroportuario Cen-ADR	0.05%	43,000	$4.9M	No change
NXT Nextpower Inc.	0.05%	38,196	$4.6M	Add +15.6%
GNR State Street SPDR S&P Global	0.04%	54,900	$4.1M	Reduce -2.7%
AWR American States Water Co. filed as AMER STATES WTR CO	0.04%	51,404	$3.9M	New
BE Bloom Energy Corp. Class A	0.04%	28,669	$3.9M	Reduce -16.3%
CWT California Water Service Grp	0.04%	85,115	$3.9M	New
TMO Thermo Fisher Scientific Inc.	0.04%	6,993	$3.4M	Reduce -56.8%
INVH Invitation Homes Inc.	0.03%	131,626	$3.3M	No change
FSLR First Solar Inc.	0.03%	15,655	$3.1M	Add +1.5%
VICI Vici Properties Inc. filed as VICI PPTYS INC	0.03%	112,368	$3.1M	No change
EXR Extra Space Storage Inc.	0.02%	17,103	$2.2M	No change
CWEN Clearway Energy Inc. Class C	0.02%	50,039	$2.0M	Add +10.3%
GDX Vaneck Gold Miners ETF	0.02%	19,780	$1.8M	Reduce -12.4%
VCLN Virtus Duff & Phelps Clean E	0.02%	61,475	$1.7M	No change
DBC Invesco DB Commodity Index T	0.02%	58,894	$1.7M	Add +41.3%
PAGP Plains GP Holdings LP	0.02%	70,071	$1.7M	Reduce -8.8%
ORA Ormat Technologies Inc.	0.02%	14,743	$1.7M	Add +5.8%
ENPH Enphase Energy Inc.	0.02%	40,362	$1.5M	Add +43.9%
EGP Eastgroup Properties Inc.	0.01%	6,615	$1.2M	Add +15.6%
SCHP Schwab U.S. Tips ETF	0.01%	44,520	$1.2M	Reduce -16.7%
COLD Americold Realty Trust Inc.	0.01%	97,037	$1.1M	No change
PLUG Plug Power Inc. filed as PLUG PWR INC	0.01%	448,248	$1.0M	Add +54.5%
SEDG Solaredge Technologies Inc.	0.01%	19,418	$991K	Add +34.4%
CEG Constellation Energy	0.01%	3,163	$883K	Add +30.9%
RUN Sunrun Inc.	0.01%	58,602	$795K	Add +38.8%
TEL Te Connectivity PLC	0.01%	3,638	$760K	Add +20.3%
AROC Archrock Inc.	0.01%	20,760	$722K	Reduce -2.0%
HUBB Hubbell Inc.	0.01%	1,440	$707K	Reduce -6.9%
EQT Eqt Corp.	0.01%	9,305	$592K	Reduce -2.0%
GEV GE Vernova Inc.	0.01%	668	$583K	Reduce -6.8%
CCJ Cameco Corp.	0.01%	4,723	$513K	Reduce -29.2%
DBA Invesco DB Agriculture Fund	0.00%	17,025	$465K	Reduce -35.1%
ARRY Array Technologies Inc.	0.00%	39,539	$286K	Add +51.7%
ACM Aecom	0.00%	7	$594	New

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