Duff & Phelps Investment Management
CHICAGO, ILfiles as DUFF & PHELPS INVESTMENT MANAGEMENT CO
$10.6bn in 162 US stocks at the end of 30 June 2026. The top 10 are 29.5% of the money. It changed about 7.4% of the portfolio this quarter.
Value
$10.6bn
Stocks
162
Top 10 share
29.5%
Turnover
7.4%
What changed this quarter
New
Bought for the first time this quarter.
- National Healthcare PropertiesNHP0.6% of the fund
- Norfolk SouthernNSC0.1% of the fund
- Fortune Brands InnovationsFBIN<0.1% of the fund
- Matador ResourcesMTDR<0.1% of the fund
- Kinetik HoldingsKNTK<0.1% of the fund
- Realty IncomeO<0.1% of the fund
- Healthpeak PropertiesDOC<0.1% of the fund
- Highwoods PropertiesHIW<0.1% of the fund
- Vivmark ResidentialVMRK<0.1% of the fund
- UDRUDR<0.1% of the fund
- Broadstone Net LeaseBNL<0.1% of the fund
- Millrose PropertiesMRP<0.1% of the fund
- Apple Hospitality REITAPLE<0.1% of the fund
- W. P. CareyWPC<0.1% of the fund
- LXP Industrial TrustLXP<0.1% of the fund
- FrontView REITFVR<0.1% of the fund
- Kimco Realty<0.1% of the fund
Added
Bought more of a stock they already held.
- WelltowerWELL6.5% of the fund+15%
- PrologisPLD4.1% of the fund+8%
- Digital Realty TrustDLR2.9% of the fund+12%
- VentasVTR2.4% of the fund+10%
- Simon Property GroupSPG2.1% of the fund+12%
- Public StoragePSA1.9% of the fund+16%
- EntergyETR1.8% of the fund+7%
- American Homes 4 RentAMH1.7% of the fund+15%
- Avalonbay CommunitiesAVB1.6% of the fund+12%
- American TowerAMT1.6% of the fund+13%
- American Healthcare REITAHR1.5% of the fund+186%
- Brixmor Property GroupBRX1.5% of the fund+12%
- First Industrial Realty TrustFR1.4% of the fund+12%
- Alliant EnergyLNT1.4% of the fund+3%
- Williams CompaniesWMB1.4% of the fund+4%
- MID America Apartment CommunitiesMAA1.3% of the fund+20%
- AmerenAEE1.3% of the fund+4%
- CubeSmartCUBE1.2% of the fund+18%
- DTE EnergyDTE1.2% of the fund+6%
- Essex Property TrustESS1.2% of the fund+32%
- Essential Properties Realty TrustEPRT1.1% of the fund+18%
- PPLPPL1.1% of the fund+9%
- Atmos EnergyATO1.0% of the fund+5%
- American Electric PowerAEP1.0% of the fund+5%
- Ryman Hospitality PropertiesRHP1.0% of the fund+9%
Cut
Sold some of their stake.
- EquinixEQIX4.2% of the fund-10%
- Iron MountainIRM1.7% of the fund-8%
- NextEra EnergyNEE1.4% of the fund-9%
- TC EnergyTRP1.0% of the fund-5%
- Duke EnergyDUK1.0% of the fund-10%
- Mplx LPMPLX0.9% of the fund-3%
- EmeraEMA0.8% of the fund-14%
- OneokOKE0.8% of the fund-3%
- Essential UtilitiesWTRG0.7% of the fund-6%
- Pg&ePCG0.7% of the fund-13%
- EnbridgeENB0.7% of the fund-14%
- American Water Works CompanyAWK0.6% of the fund-6%
- Public Service Enterprise GroupPEG0.6% of the fund-31%
- Pembina PipelinePBA0.5% of the fund-7%
- Pebblebrook Hotel TrustPEB0.4% of the fund-31%
- Plains ALL Amern Pipeline LPAA0.4% of the fund-6%
- Companhia de Saneamento BasiSBS0.3% of the fund-12%
- Alexandria Real Estate EquitiesARE0.2% of the fund-56%
- EcolabECL0.2% of the fund-9%
- Advanced Drainage SystemsWMS0.1% of the fund-29%
- Mueller Water ProductsMWA0.1% of the fund-5%
- Valmont IndustriesVMI0.1% of the fund-43%
- GFL EnvironmentalGFL0.1% of the fund-18%
- Franklin ElectricFELE<0.1% of the fund-3%
- Host Hotels & ResortsHST<0.1% of the fund-2%
Sold out
Sold their entire stake.
- Eversource EnergyES-100%
- SunrunRUN-100%
- TE ConnectivityTEL-100%
Holdings
- Avalonbay CommunitiesAVB
- Share
- 1.6%
- Value
- $171m
- Shares
- 907,436
+12%
- TC EnergyTRP
- Share
- 1.0%
- Value
- $103m
- Shares
- 1,547,057
-5%
- Mplx LPMPLX
- Share
- 0.9%
- Value
- $91m
- Shares
- 1,618,467
-3%
- EmeraEMA
- Share
- 0.8%
- Value
- $87m
- Shares
- 1,161,790
-14%
- Energy Transfer L PET
- Share
- 0.8%
- Value
- $83m
- Shares
- 4,359,713
Held
- FortisFTS
- Share
- 0.8%
- Value
- $80m
- Shares
- 981,900
Held
- Pembina PipelinePBA
- Share
- 0.5%
- Value
- $52m
- Shares
- 799,602
-7%
- TelusTU
- Share
- 0.4%
- Value
- $40m
- Shares
- 2,666,500
Held
- Plains ALL Amern Pipeline LPAA
- Share
- 0.4%
- Value
- $37m
- Shares
- 1,676,900
-6%
- Companhia de Saneamento BasiSBS
- Share
- 0.3%
- Value
- $37m
- Shares
- 6,400,937
-12%
- BCEBCE
- Share
- 0.2%
- Value
- $24m
- Shares
- 1,127,288
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| WelltowerWELL | 6.5% | $687m | 3,024,718 | +15% |
| EquinixEQIX | 4.2% | $445m | 427,032 | -10% |
| PrologisPLD | 4.1% | $437m | 3,225,840 | +8% |
| Digital Realty TrustDLR | 2.9% | $312m | 1,735,593 | +12% |
| VentasVTR | 2.4% | $254m | 2,863,545 | +10% |
| Simon Property GroupSPG | 2.1% | $218m | 975,188 | +12% |
| Public StoragePSA | 1.9% | $204m | 640,120 | +16% |
| Xcel EnergyXEL | 1.8% | $194m | 2,419,977 | Held |
| SempraSRE | 1.8% | $191m | 2,055,243 | Held |
| EntergyETR | 1.8% | $188m | 1,635,463 | +7% |
| Iron MountainIRM | 1.7% | $184m | 1,455,435 | -8% |
| American Homes 4 RentAMH | 1.7% | $177m | 5,281,145 | +15% |
| Avalonbay CommunitiesAVB | 1.6% | $171m | 907,436 | +12% |
| Centerpoint EnergyCNP | 1.6% | $170m | 3,861,232 | Held |
| American TowerAMT | 1.6% | $170m | 1,039,175 | +13% |
| American Healthcare REITAHR | 1.5% | $162m | 3,100,314 | +186% |
| Brixmor Property GroupBRX | 1.5% | $158m | 5,022,252 | +12% |
| NextEra EnergyNEE | 1.4% | $153m | 1,744,585 | -9% |
| First Industrial Realty TrustFR | 1.4% | $151m | 2,469,752 | +12% |
| Alliant EnergyLNT | 1.4% | $150m | 1,964,325 | +3% |
| Williams CompaniesWMB | 1.4% | $149m | 2,000,552 | +4% |
| NisourceNI | 1.4% | $147m | 3,097,280 | Held |
| EvergyEVRG | 1.3% | $143m | 1,652,488 | Held |
| MID America Apartment CommunitiesMAA | 1.3% | $141m | 1,018,023 | +20% |
| Targa ResourcesTRGP | 1.3% | $139m | 518,030 | Held |
| AmerenAEE | 1.3% | $136m | 1,206,076 | +4% |
| CubeSmartCUBE | 1.2% | $129m | 3,239,472 | +18% |
| DTE EnergyDTE | 1.2% | $128m | 841,774 | +6% |
| Essex Property TrustESS | 1.2% | $125m | 429,210 | +32% |
| Essential Properties Realty TrustEPRT | 1.1% | $121m | 4,037,057 | +18% |
| PPLPPL | 1.1% | $120m | 3,287,954 | +9% |
| WEC Energy GroupWEC | 1.1% | $114m | 979,934 | Held |
| CMS EnergyCMS | 1.0% | $111m | 1,453,667 | Held |
| Atmos EnergyATO | 1.0% | $110m | 637,725 | +5% |
| American Electric PowerAEP | 1.0% | $110m | 801,532 | +5% |
| Ryman Hospitality PropertiesRHP | 1.0% | $109m | 851,474 | +9% |
| Cheniere EnergyLNG | 1.0% | $109m | 454,899 | +23% |
| Dominion EnergyD | 1.0% | $107m | 1,569,402 | Held |
| TC EnergyTRP | 1.0% | $103m | 1,547,057 | -5% |
| Duke EnergyDUK | 1.0% | $102m | 807,284 | -10% |
| Southern CompanySO | 1.0% | $102m | 1,066,805 | Held |
| Equity Lifestyle PropertiesELS | 1.0% | $102m | 1,580,485 | +8% |
| OGE EnergyOGE | 1.0% | $102m | 2,091,246 | Held |
| Crown CastleCCI | 0.9% | $97m | 1,285,653 | +8% |
| Mplx LPMPLX | 0.9% | $91m | 1,618,467 | -3% |
| EmeraEMA | 0.8% | $87m | 1,161,790 | -14% |
| OneokOKE | 0.8% | $86m | 994,844 | -3% |
| Phillips Edison & CompanyPECO | 0.8% | $83m | 2,006,105 | +11% |
| Agree RealtyADC | 0.8% | $83m | 1,100,957 | +9% |
| Energy Transfer L PET | 0.8% | $83m | 4,359,713 | Held |
| FortisFTS | 0.8% | $80m | 981,900 | Held |
| Essential UtilitiesWTRG | 0.7% | $79m | 2,054,683 | -6% |
| Union PacificUNP | 0.7% | $78m | 286,926 | +12% |
| SpireSR | 0.7% | $76m | 967,949 | +4% |
| Pg&ePCG | 0.7% | $74m | 4,421,644 | -13% |
| Vornado Realty TrustVNO | 0.7% | $73m | 1,861,939 | +21% |
| Cousins PropertiesCUZ | 0.7% | $71m | 2,381,815 | +12% |
| EnbridgeENB | 0.7% | $71m | 1,316,326 | -14% |
| American Water Works CompanyAWK | 0.6% | $69m | 521,915 | -6% |
| Pinnacle West CapitalPNW | 0.6% | $67m | 624,930 | Held |
| Public Service Enterprise GroupPEG | 0.6% | $66m | 810,985 | -31% |
| BXPBXP | 0.6% | $65m | 982,326 | +11% |
| AT&TT | 0.6% | $65m | 3,140,500 | Held |
| Sabra Health Care REITSBRA | 0.6% | $65m | 3,331,616 | +18% |
| FirstenergyFE | 0.6% | $62m | 1,304,500 | Held |
| Canadian Pacific Kansas CityCP | 0.6% | $62m | 500,795 | +18% |
| DT MidstreamDTM | 0.6% | $62m | 419,342 | Held |
| National Healthcare PropertiesNHP | 0.6% | $61m | 4,130,444 | New |
| Enterprise Products Partners L.P.EPD | 0.5% | $57m | 1,560,173 | Held |
| Verizon CommunicationsVZ | 0.5% | $57m | 1,339,489 | Held |
| Gaming & Leisure PropertiesGLPI | 0.5% | $56m | 1,265,323 | +11% |
| Pembina PipelinePBA | 0.5% | $52m | 799,602 | -7% |
| Kinder MorganKMI | 0.5% | $48m | 1,511,605 | Held |
| CSXCSX | 0.4% | $45m | 948,319 | +4% |
| ONE GasOGS | 0.4% | $44m | 576,000 | Held |
| Pebblebrook Hotel TrustPEB | 0.4% | $42m | 2,189,151 | -31% |
| TelusTU | 0.4% | $40m | 2,666,500 | Held |
| XylemXYL | 0.4% | $40m | 336,526 | +11% |
| Rexford Industrial RealtyREXR | 0.4% | $39m | 1,172,472 | Held |
| Plains ALL Amern Pipeline LPAA | 0.4% | $37m | 1,676,900 | -6% |
| Companhia de Saneamento BasiSBS | 0.3% | $37m | 6,400,937 | -12% |
| VeraltoVLTO | 0.3% | $36m | 406,872 | Held |
| Black HillsBKH | 0.3% | $34m | 459,540 | Held |
| SmartStop Self Storage REITSMA | 0.3% | $31m | 967,028 | +16% |
| Northwest Natural HoldingNWN | 0.3% | $30m | 613,090 | Held |
| Kodiak Gas ServicesKGS | 0.2% | $26m | 349,051 | Held |
| BCEBCE | 0.2% | $24m | 1,127,288 | Held |
| Kimco RealtyKIM | 0.2% | $24m | 938,081 | Held |
| FerrovialFER | 0.2% | $24m | 392,909 | Held |
| Alexandria Real Estate EquitiesARE | 0.2% | $22m | 425,705 | -56% |
| Core & MainCNM | 0.2% | $22m | 455,050 | +27% |
| EcolabECL | 0.2% | $19m | 67,991 | -9% |
| Watts Water TechnologiesWTS | 0.2% | $18m | 46,645 | +25% |
| PentairPNR | 0.2% | $17m | 217,532 | Held |
| Norfolk SouthernNSC | 0.1% | $16m | 49,535 | New |
| Advanced Drainage SystemsWMS | 0.1% | $15m | 98,489 | -29% |
| Zurn Elkay Water SolutionsZWS | 0.1% | $13m | 253,751 | +49% |
| Southwest Gas HoldingsSWX | 0.1% | $13m | 141,569 | +67% |
| Mueller Water ProductsMWA | 0.1% | $12m | 468,312 | -5% |
| Valmont IndustriesVMI | 0.1% | $11m | 19,568 | -43% |
Showing the largest 100 of 162.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 24.6% since 30 June 2025.
Where the money is
Real estate50.2%
Utilities33.9%
Energy6.8%
Industrials4.3%
Media & telecom1.8%
Materials0.2%
Technology0.2%
Health care0.1%
Other2.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.