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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

Q2 2026 · Filed 2026-08-13
Market Value
$10.6B
+10.0%
Holdings
164
+12
New Purchases
17
Added To
69
Closed
2
Reduced
54
Top 10 Concentration
29.5%
Turnover
11.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WELL 6.48% 5.41% +1.07% $687M
AHR 1.53% 0.53% +1.00% $162M
NHP 0.57% 0.00% +0.57% $61M
SPG 2.06% 1.68% +0.38% $218M
PSA 1.92% 1.56% +0.37% $204M
ESS 1.18% 0.82% +0.36% $125M
AMH 1.67% 1.33% +0.34% $177M
RHP 1.03% 0.75% +0.29% $109M
VNO 0.69% 0.41% +0.28% $73M
MAA 1.33% 1.08% +0.26% $141M
AVB 1.62% 1.37% +0.25% $171M
VTR 2.40% 2.22% +0.18% $254M
CUZ 0.67% 0.50% +0.17% $71M
CUBE 1.22% 1.04% +0.17% $129M
BRX 1.49% 1.34% +0.15% $158M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EQIX 4.20% 4.81% -0.61% $445M
NEE 1.45% 1.85% -0.41% $153M
PEG 0.62% 0.99% -0.37% $66M
T 0.61% 0.95% -0.33% $65M
SRE 1.80% 2.11% -0.31% $191M
ES 0.00% 0.31% -0.31% $0
ARE 0.21% 0.47% -0.26% $22M
DUK 0.96% 1.22% -0.26% $102M
PCG 0.70% 0.93% -0.22% $74M
ENB 0.67% 0.87% -0.19% $71M
EMA 0.82% 1.01% -0.19% $87M
WTRG 0.74% 0.92% -0.17% $79M
XEL 1.83% 2.00% -0.17% $194M
SR 0.71% 0.88% -0.16% $76M
VZ 0.54% 0.70% -0.16% $57M

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 $4M 0.0%
Large Cap 100 $8.8B 82.9%
Mid Cap 54 $1.7B 15.9%
Small Cap 6 $62M 0.6%
Micro Cap 2 $62M 0.6%

Portfolio Analytics

Avg Market Cap
$32.9B
Median Market Cap
$15.5B
Avg P/E
32.1
Median P/E
22.3
Avg Dividend Yield
0.03%
Avg Beta
0.83
# Stocks
158
# ETFs / Funds
6

Top Holdings (164 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 WELL 6.48% 3,024,718 $687M $226.97 $166M +392,178 +14.9%
2 EQIX 4.20% 427,032 $445M $1,042.39 -$18M -45,551 -9.6%
3 PLD 4.12% 3,225,840 $437M $135.47 $42M +235,984 +7.9%
4 DLR 2.94% 1,735,593 $312M $179.58 $33M +188,663 +12.2%
5 VTR 2.40% 2,863,545 $254M $88.80 $41M +251,671 +9.6%
6 SPG 2.06% 975,188 $218M $223.65 $56M +107,827 +12.4%
7 PSA 1.92% 640,120 $204M $318.31 $54M +86,930 +15.7%
8 XEL 1.83% 2,419,977 $194M $80.30 $2M -4,926 -0.2%
9 SRE 1.80% 2,055,243 $191M $92.71 -$12M -31,424 -1.5%
10 ETR 1.77% 1,635,463 $188M $114.86 $16M +103,233 +6.7%
11 IRM 1.73% 1,455,435 $184M $126.31 $23M -119,902 -7.6%
12 AMH 1.67% 5,281,145 $177M $33.52 $49M +704,148 +15.4%
13 AVB 1.62% 907,436 $171M $188.69 $39M +100,686 +12.5%
14 CNP 1.60% 3,861,232 $170M $44.04 $3M -5,467 -0.1%
15 AMT 1.60% 1,039,175 $170M $163.57 $11M +118,285 +12.8%
16 AHR 1.53% 3,100,314 $162M $52.15 $111M +2,017,139 +186.2%
17 BRX 1.49% 5,022,252 $158M $31.53 $29M +539,359 +12.0%
18 NEE 1.45% 1,744,585 $153M $87.77 -$25M -176,795 -9.2%
19 FR 1.43% 2,469,752 $151M $61.31 $24M +274,144 +12.5%
20 LNT 1.41% 1,964,325 $150M $76.29 $14M +66,150 +3.5%
21 WMB 1.40% 2,000,552 $149M $74.34 $8M +67,766 +3.5%
22 NI 1.39% 3,097,280 $147M $47.55 $2M -9,360 -0.3%
23 EVRG 1.35% 1,652,488 $143M $86.43 $7M -3,372 -0.2%
24 MAA 1.33% 1,018,023 $141M $138.94 $38M +168,280 +19.8%
25 TRGP 1.31% 518,030 $139M $268.14 $11M +8,633 +1.7%
26 AEE 1.29% 1,206,076 $136M $113.04 $9M +46,195 +4.0%
27 CUBE 1.22% 3,239,472 $129M $39.77 $28M +501,816 +18.3%
28 DTE 1.21% 841,774 $128M $152.37 $12M +49,312 +6.2%
29 ESS 1.18% 429,210 $125M $291.59 $46M +102,953 +31.6%
30 EPRT 1.14% 4,037,057 $121M $29.85 $16M +605,615 +17.6%
31 PPL 1.13% 3,287,954 $120M $36.35 $4M +272,562 +9.0%
32 WEC 1.08% 979,934 $114M $116.77 $816K -1,415 -0.1%
33 CMS 1.05% 1,453,667 $111M $76.50 -$2M — —
34 ATO 1.04% 637,725 $110M $172.27 -$2M +29,780 +4.9%
35 AEP 1.03% 801,532 $110M $136.81 $10M +39,370 +5.2%
36 RHP 1.03% 851,474 $109M $128.55 $37M +71,321 +9.1%
37 LNG 1.03% 454,899 $109M $239.01 $3M +83,884 +22.6%
38 D 1.01% 1,569,402 $107M $68.29 $10M -2,827 -0.2%
39 TRP 0.97% 1,547,057 $103M $66.29 $746K -79,283 -4.9%
40 DUK 0.96% 807,284 $102M $126.58 -$15M -89,713 -10.0%
41 SO 0.96% 1,066,805 $102M $95.71 -$1M -6,489 -0.6%
42 ELS 0.96% 1,580,485 $102M $64.45 $10M +116,100 +7.9%
43 OGE 0.96% 2,091,246 $102M $48.66 $1M -5,138 -0.2%
44 CCI 0.92% 1,285,653 $97M $75.73 $357K +92,625 +7.8%
45 MPLX 0.86% 1,618,467 $91M $56.33 -$4M -50,000 -3.0%
46 EMA 0.82% 1,161,790 $87M $75.23 -$10M -187,660 -13.9%
47 0KCI.L 0.82% 994,844 $86M $86.94 -$7M -35,835 -3.5%
48 PECO 0.79% 2,006,105 $83M $41.62 $16M +204,589 +11.4%
49 ADC 0.79% 1,100,957 $83M $75.74 $7M +90,839 +9.0%
50 ET 0.79% 4,359,713 $83M $19.12 -$534K +12,975 +0.3%
51 FTS 0.75% 981,900 $80M $81.25 $4M — —
52 WTRG 0.74% 2,054,683 $79M $38.31 -$9M -134,101 -6.1%
53 UNP 0.74% 286,926 $78M $272.00 $16M +30,456 +11.9%
54 SR 0.71% 967,949 $76M $78.09 -$9M +35,367 +3.8%
55 PCG 0.70% 4,421,644 $74M $16.82 -$15M -657,339 -12.9%
56 VNO 0.69% 1,861,939 $73M $39.30 $33M +325,979 +21.2%
57 CUZ 0.67% 2,381,815 $71M $29.98 $23M +251,638 +11.8%
58 ENB 0.67% 1,316,326 $71M $54.21 -$12M -222,837 -14.5%
59 AWK 0.65% 521,915 $69M $131.58 -$7M -30,865 -5.6%
60 PNW 0.63% 624,930 $67M $107.00 $4M — —
61 PEG 0.62% 810,985 $66M $81.16 -$30M -368,599 -31.2%
62 BXP 0.61% 982,326 $65M $66.31 $19M +93,495 +10.5%
63 T 0.61% 3,140,500 $65M $20.70 -$26M — —
64 SBRA 0.61% 3,331,616 $65M $19.51 $11M +503,171 +17.8%
65 FE 0.59% 1,304,500 $62M $47.54 -$4M — —
66 CP 0.58% 500,795 $62M $122.96 $15M +76,245 +18.0%
67 DTM 0.58% 419,342 $62M $146.74 $5M -844 -0.2%
68 NHP 0.57% 4,130,444 $61M $14.65 — +4,130,444 — NEW
69 EPD 0.54% 1,560,173 $57M $36.76 -$2M — —
70 VZ 0.54% 1,339,489 $57M $42.34 -$11M — —
71 GLPI 0.53% 1,265,323 $56M $44.53 $6M +128,774 +11.3%
72 PBA 0.49% 799,602 $52M $64.82 -$1M -60,000 -7.0%
73 KMI 0.46% 1,511,605 $48M $31.97 -$2M +7,861 +0.5%
74 CSX 0.43% 948,319 $45M $47.53 $8M +36,131 +4.0%
75 OGS 0.42% 576,000 $44M $77.07 -$5M — —
76 PEB 0.40% 2,189,151 $42M $19.41 $2M -997,299 -31.3%
77 TU 0.38% 2,666,500 $40M $15.00 -$8M — —
78 XYL 0.38% 336,526 $40M $118.21 $3M +32,135 +10.6%
79 REXR 0.37% 1,172,472 $39M $33.50 $1M +15,027 +1.3%
80 PAA 0.35% 1,676,900 $37M $22.26 -$2M -100,000 -5.6%
81 SBS 0.35% 6,400,937 $37M $5.78 -$7M +4,953,752 +342.3%
82 VLTO 0.34% 406,872 $36M $88.68 -$400K -5,715 -1.4%
83 BKH 0.32% 459,540 $34M $74.40 $2M — —
84 SMA 0.30% 967,028 $31M $32.50 $6M +135,273 +16.3%
85 NWN 0.28% 613,090 $30M $49.06 -$3M — —
86 KGS 0.25% 349,051 $26M $75.13 $6M — —
87 BCE 0.23% 1,127,288 $24M $21.51 -$4M — —
88 KIM 0.22% 938,081 $24M $25.35 $2M -18,240 -1.9%
89 FER.MC 0.22% 392,909 $24M $59.98 $2M -2,991 -0.8%
90 ARE 0.21% 425,705 $22M $52.85 -$23M -547,016 -56.2%
91 CNM 0.21% 455,050 $22M $48.25 $4M +97,939 +27.4%
92 ECL 0.18% 67,991 $19M $278.61 -$988K -6,930 -9.2%
93 WTS 0.17% 46,645 $18M $391.45 $7M +9,292 +24.9%
94 PNR 0.16% 217,532 $17M $76.66 -$2M -2,155 -1.0%
95 NSC 0.15% 49,535 $16M $314.59 — +49,535 — NEW
96 WMS 0.15% 98,489 $15M $156.96 -$4M -41,140 -29.5%
97 ZWS 0.12% 253,751 $13M $50.53 $5M +83,691 +49.2%
98 SWX 0.12% 141,569 $13M $88.68 $5M +56,569 +66.5%
99 MWA 0.11% 468,312 $12M $25.83 -$1M -23,827 -4.8%
100 VMI 0.11% 19,568 $11M $577.60 -$3M -14,989 -43.4%

New Positions

SymbolValue% Port
NHP $61M 0.57%
NSC $16M 0.15%
FBHS $4M 0.03%
MTDR $452K —%
KNTK $402K —%
O $137K —%
DOC $104K —%
HIW $93K —%
EQR $82K —%
UDR $72K —%
BNL $62K —%
MRP $60K —%
APLE $45K —%
WPC $38K —%
LXP $35K —%

Sold Out Positions

SymbolValue% Port
ES — —%
RUN — —%
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