DUFF & PHELPS INVESTMENT MANAGEMENT CO

CIK 0000765443 · Q1 2026

13F Equity AUM

$9.6B

+9.2% QoQ

Positions

147

+1 QoQ

AUM Rank

#660

Top 5%

Skill Alpha (FF)

-0.6%/yr^ns

No Clear Edge

Rank #3,096 · Top 38%

vs S&P -9.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 19.4%Top 10: 28.9%Top 20: 44.0%

WELL5.4%

EQIX4.8%

PLD4.1%

FQI2.9%

VEN2.2%

SRE2.1%

XEL2.0%

NEE1.9%

ETR1.8%

CNP1.7%

Others (137)71.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Real Estate43.6%

Utilities36.9%

Energy11.2%

Industrials4.3%

Communication Services2.4%

Other1.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 147Median: 0.47%Avg: 0.68%

0–0.5%

78(11.0%)

0.5–1%

28(21.0%)

1–3%

38(53.6%)

3–5%

2(8.9%)

5%+

1(5.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 146Unique: 1vs 20 funds

2%Low

147

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

2.8%

JPMORGAN CHASE & CO

BANK OF AMERICA CORP /DE/

3.1%

BlackRock, Inc.

3.6%

FMR LLC

4.7%

GEODE CAPITAL MANAGEMENT, LLC

3.9%

VANGUARD CAPITAL MANAGEMENT LLC

STATE STREET CORP

3.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

4.4%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New8Increased67Decreased54Exited6

New Positions

EMA1.0%

+1.3M

PEB0.4%

+3.2M

FER0.2%

+396K

SWX0.1%

+85K

HTO0.1%

+112K

CWT0.0%

+85K

AWR0.0%

+51K

ACM0.0%

Increased

AHR0.5%

+755K(+230%)

ET0.9%

+581K(+15%)

OKE1.0%

+313K(+44%)

ENB0.9%

+176K(+13%)

PLUN0.0%

+158K(+55%)

CSX0.4%

+107K(+13%)

PSA1.6%

+104K(+23%)

AWC0.8%

+104K(+23%)

TTEK0.1%

+82K(+64%)

D1.0%

+80K(+5%)

Decreased

KMI0.5%

-931,059(-38%)

PAA0.4%

-400,000(-18%)

SMA0.3%

-267,945(-24%)

NWN0.3%

-243,620(-28%)

ES0.3%

-183,480(-30%)

PLD4.1%

-166,515(-5%)

SO1.1%

-164,923(-13%)

MPLX1.0%

-163,536(-9%)

NEE1.9%

-146,934(-7%)

AVB1.4%

-133,315(-14%)

Exited

-1,200,638

-336,789

-171,094

-171,584

-301,487

-23,895

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...