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Asset Manager ← All Institutions

DUFF & PHELPS INVESTMENT MANAGEMENT CO

10 S. WACKER DR. 19TH FLOOR, CHICAGO, IL 60606 • 312-263-2610

Q1 2026 · Filed 2026-04-28
Market Value
$9.6B
+8.8%
Holdings
151
New Purchases
7
Added To
66
Closed
5
Reduced
54
Top 10 Concentration
29.1%
Turnover
7.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EMRAF 1.02% 0.00% +1.02% $97M
EQIX 4.84% 4.17% +0.68% $463M
PEB 0.42% 0.00% +0.42% $40M
OKE 0.97% 0.60% +0.37% $93M
AHR 0.53% 0.18% +0.36% $51M
PSA 1.57% 1.33% +0.24% $150M
TRGP 1.34% 1.10% +0.24% $128M
FTS 0.80% 0.58% +0.22% $76M
DLR 2.92% 2.72% +0.20% $279M
WMB 1.47% 1.28% +0.20% $141M
IRM 1.68% 1.49% +0.19% $161M
ET 0.88% 0.71% +0.17% $84M
ETR 1.80% 1.66% +0.14% $172M
PBA 0.55% 0.42% +0.14% $53M
ENB 0.87% 0.74% +0.13% $83M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AVB 1.38% 1.94% -0.56% $132M
PLD 4.13% 4.58% -0.45% $395M
KEY.TO 0.00% 0.44% -0.44% $0
CNI 0.00% 0.38% -0.38% $0
AMH 1.34% 1.66% -0.33% $128M
MAA 1.09% 1.34% -0.26% $104M
KMI 0.53% 0.76% -0.23% $50M
XYL 0.38% 0.57% -0.19% $36M
BXP 0.48% 0.67% -0.19% $46M
CCI 1.01% 1.21% -0.19% $97M
AMT 1.66% 1.83% -0.17% $159M
ES 0.31% 0.47% -0.16% $29M
SPG 1.69% 1.85% -0.16% $162M
ESS 0.83% 0.98% -0.15% $79M
SO 1.08% 1.23% -0.15% $104M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Real Estate 45.0%
Utilities 36.6%
Energy 11.8%
Industrials 3.6%
Communication Services 2.5%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $68M 0.7%
Large Cap 96 $8.1B 84.5%
Mid Cap 46 $1.3B 14.1%
Small Cap 6 $68M 0.7%
Micro Cap 1 $2M 0.0%

Portfolio Analytics

Avg Market Cap
$36.1B
Median Market Cap
$17.8B
Avg P/E
30.1
Median P/E
23.8
Avg Dividend Yield
0.03%
Avg Beta
0.85
# Stocks
145
# ETFs / Funds
6

Top Holdings (151 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 WELL 5.44% 2,632,540 $520M $197.71 $36M +22,850 +0.9%
2 EQIX 4.84% 472,583 $463M $980.24 $97M -5,750 -1.2%
3 PLD 4.13% 2,989,856 $395M $132.18 -$8M -166,515 -5.3%
4 DLR 2.92% 1,546,930 $279M $180.21 $40M +4,220 +0.3%
5 VTR 2.23% 2,611,874 $214M $81.78 $14M +35,600 +1.4%
6 SRE 2.12% 2,086,667 $203M $97.17 $19M +48
7 XEL 2.01% 2,424,903 $193M $79.44 $19M +72,516 +3.1%
8 NEE 1.87% 1,921,380 $178M $92.88 $12M -146,934 -7.1%
9 ETR 1.80% 1,532,230 $172M $112.36 $26M -47,225 -3.0%
10 CNP 1.75% 3,866,699 $167M $43.16 $21M +55,457 +1.5%
11 SPG 1.69% 867,361 $162M $186.53 -$680K -10,325 -1.2%
12 IRM 1.68% 1,575,337 $161M $102.14 $30M -5,115 -0.3%
13 AMT 1.66% 920,890 $159M $172.58 -$2M +3,035 +0.3%
14 PSA 1.57% 553,190 $150M $270.88 $33M +103,780 +23.1%
15 NI 1.52% 3,106,640 $145M $46.66 $15M +34
16 WMB 1.47% 1,932,786 $141M $72.78 $29M +67,158 +3.6%
17 LNT 1.42% 1,898,175 $136M $71.76 $13M -347 -0.0%
18 EVRG 1.42% 1,655,860 $136M $81.92 $11M -60,075 -3.5%
19 AVB 1.38% 806,750 $132M $163.35 -$39M -133,315 -14.2%
20 BRX 1.35% 4,482,893 $129M $28.80 $13M +52,350 +1.2%
21 AMH 1.34% 4,576,997 $128M $27.92 -$18M +20,600 +0.5%
22 TRGP 1.34% 509,397 $128M $250.73 $31M -13,149 -2.5%
23 AEE 1.33% 1,159,881 $127M $109.92 $7M -45,060 -3.7%
24 FR 1.33% 2,195,608 $127M $57.85 $2M +11,200 +0.5%
25 DUK 1.23% 896,997 $117M $130.94 $12M +217 +0.0%
26 DTE 1.21% 792,462 $116M $146.22 $14M +16
27 PPL 1.20% 3,015,392 $115M $38.20 $8M -40,229 -1.3%
28 WEC 1.19% 981,349 $114M $115.77 $10M +155 +0.0%
29 CMS 1.18% 1,453,667 $113M $77.58 $11M
30 ATO 1.17% 607,945 $112M $184.72 $3M -44,361 -6.8%
31 LNG 1.10% 371,015 $105M $283.76 $15M -91,480 -19.8%
32 EPRT 1.09% 3,431,442 $104M $30.36 $3M +6,600 +0.2%
33 MAA 1.09% 849,743 $104M $122.12 -$14M -350 -0.0%
34 SO 1.08% 1,073,294 $104M $96.52 -$4M -164,923 -13.3%
35 TRP 1.06% 1,626,340 $102M $62.60 $8M -70,304 -4.1%
36 OGE 1.05% 2,096,384 $101M $47.96 $11M -45
37 CUBE 1.05% 2,737,656 $100M $36.65 $2M +18,025 +0.7%
38 AEP 1.04% 762,162 $100M $131.08 $12M
39 EMRAF 1.02% 1,349,450 $97M $72.11 +1,349,450 NEW
40 D 1.02% 1,572,229 $97M $61.82 $10M +79,654 +5.3%
41 CCI 1.01% 1,193,028 $97M $81.31 -$9M +370 +0.0%
42 PEG 1.00% 1,179,584 $95M $80.95 $782K +193 +0.0%
43 MPLX 1.00% 1,668,467 $95M $57.07 -$3M -163,536 -8.9%
44 OKE 0.97% 1,030,679 $93M $90.39 $40M +312,954 +43.6%
45 ELS 0.96% 1,464,385 $91M $62.42 -$2M -80,735 -5.2%
46 T 0.95% 3,140,500 $91M $28.99 $13M
47 PCG 0.93% 5,078,983 $89M $17.57 $5M -131,967 -2.5%
48 WTRG 0.92% 2,188,784 $88M $40.27 $4M +103
49 SR 0.88% 932,582 $84M $90.54 $3M -50,854 -5.2%
50 ET 0.88% 4,346,738 $84M $19.30 $22M +580,938 +15.4%
51 ENB 0.87% 1,539,163 $83M $54.14 $18M +175,744 +12.9%
52 ESS 0.83% 326,257 $79M $242.00 -$7M -2,400 -0.7%
53 FTS 0.80% 981,900 $76M $77.61 $25M
54 ADC 0.80% 1,010,118 $76M $75.38 $7M +52,175 +5.5%
55 AWK 0.79% 552,780 $75M $136.09 $17M +103,758 +23.1%
56 RHP 0.75% 780,153 $72M $92.27 -$1M +3,900 +0.5%
57 PECO 0.71% 1,801,516 $67M $37.42 $4M +13,090 +0.7%
58 VZ 0.70% 1,339,489 $67M $50.20 $13M
59 FE 0.69% 1,304,500 $66M $50.66 $8M
60 PNW 0.66% 624,930 $63M $100.75 $8M
61 UNP 0.65% 256,470 $62M $242.62 $14M +49,148 +23.7%
62 EPD 0.62% 1,560,173 $59M $37.84 $9M -1,110 -0.1%
63 DTM 0.59% 420,186 $57M $134.67 $12M +51,138 +13.9%
64 SBRA 0.57% 2,828,445 $54M $19.23 $2M +39,650 +1.4%
65 PBA 0.55% 859,602 $53M $61.60 $16M -103,474 -10.7%
66 AHR 0.53% 1,083,175 $51M $47.16 $36M +754,900 +230.0%
67 GLPI 0.53% 1,136,549 $50M $44.37 $631K +22,250 +2.0%
68 KMI 0.53% 1,503,744 $50M $33.53 -$17M -931,059 -38.2%
69 OGS 0.52% 576,000 $50M $86.13 $5M
70 CUZ 0.50% 2,130,177 $48M $22.57 -$6M +38,450 +1.8%
71 TU 0.50% 2,666,500 $48M $17.88 $12M
72 BXP 0.48% 888,831 $46M $51.90 -$13M +9,700 +1.1%
73 ARE 0.47% 972,721 $45M $46.42 -$4M -27,125 -2.7%
74 SBS 0.46% 1,447,185 $44M $30.51 $10M +2,557 +0.2%
75 PEB 0.42% 3,186,450 $40M $12.63 +3,186,450 NEW
76 VNO 0.42% 1,535,960 $40M $25.99 -$9M +69,250 +4.7%
77 PAA 0.41% 1,776,900 $40M $22.33 $581K -400,000 -18.4%
78 REXR 0.40% 1,157,445 $38M $32.73 -$6M +11,755 +1.0%
79 CSX 0.39% 912,188 $37M $41.05 $8M +107,073 +13.3%
80 VLTO 0.38% 412,587 $36M $88.42 $920K +56,196 +15.8%
81 XYL 0.38% 304,391 $36M $119.50 -$14M -65,519 -17.7%
82 NWN 0.34% 613,090 $33M $53.22 -$7M -243,620 -28.4%
83 BKH 0.33% 459,540 $32M $69.41 $5M +69,840 +17.9%
84 ES 0.31% 424,140 $29M $69.28 -$12M -183,480 -30.2%
85 BCE 0.30% 1,127,288 $28M $25.24 $2M
86 SMA 0.26% 831,755 $25M $30.28 -$9M -267,945 -24.4%
87 KIM 0.22% 956,321 $21M $22.47 $3M +21,000 +2.2%
88 KGS 0.21% 349,051 $20M $58.32 $3M -113,072 -24.5%
89 ECL 0.21% 74,921 $20M $266.02 -$4M -15,958 -17.6%
90 WMS 0.20% 139,629 $19M $137.13 -$1M +23 +0.0%
91 PNR 0.20% 219,687 $19M $87.11 -$7M -30,860 -12.3%
92 CNM 0.18% 357,111 $18M $49.40 -$915K +59 +0.0%
93 GFL 0.15% 353,327 $15M $41.72 $836K +29,580 +9.1%
94 VMI 0.14% 34,557 $14M $399.57 -$5M -12,346 -26.3%
95 MWA 0.14% 492,139 $14M $27.49 $476K -55,824 -10.2%
96 WTS 0.11% 37,353 $11M $290.29 $1M +3,465 +10.2%
97 WM 0.10% 43,567 $10M $229.79 $2M +5,350 +14.0%
98 EIX 0.09% 123,600 $9M $73.18 $2M
99 FELE 0.09% 89,972 $8M $92.17 -$2M -20,212 -18.3%
100 IEX 0.08% 42,620 $8M $189.55 $129K -2,055 -4.6%

New Positions

SymbolValue% Port
EMRAF $97M 1.02%
PEB $40M 0.42%
SWX $7M 0.08%
HTO $7M 0.07%
AWR $4M 0.04%
CWT $4M 0.04%
ACM $594 —%

Sold Out Positions

SymbolValue% Port
CNI —%
KNTK —%
ERII —%
KEY.TO —%
GEI.TO —%
View SEC EDGAR Filings for DUFF & PHELPS INVESTMENT MANAGEMENT CO →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms