Clients
Duff & Phelps Investment Management serves 44 clients, 14 of them investment companies. The average client has about $290 million with the firm.
- Investment companies14 clients59%
- Pooled investment vehicles6 clients12%
- Pension and profit-sharing plans7 clients16%
- State or municipal government entities5 clients6%
- Corporations and other businesses9 clients7%
- Charitable organizations3 clients0%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 14 | $7,509,926,606 | 58.9% | $536.4M |
| Pooled investment vehicles | 6 | $1,476,915,731 | 11.6% | $246.2M |
| Pension and profit-sharing plans | 7 | $2,094,498,566 | 16.4% | $299.2M |
| Charitable organizations | 3 | $47,482,142 | 0.4% | $15.8M |
| State or municipal government entities | 5 | $701,581,270 | 5.5% | $140.3M |
| Corporations and other businesses | 9 | $916,533,649 | 7.2% | $101.8M |
| Total | 44 | $12,746,937,964 | 100% | $289.7M |
- Clients
- 14
- Regulatory AUM
- $7,509,926,606
- Share
- 58.9%
- Avg. per client
- $536.4M
- Clients
- 6
- Regulatory AUM
- $1,476,915,731
- Share
- 11.6%
- Avg. per client
- $246.2M
- Clients
- 7
- Regulatory AUM
- $2,094,498,566
- Share
- 16.4%
- Avg. per client
- $299.2M
- Clients
- 3
- Regulatory AUM
- $47,482,142
- Share
- 0.4%
- Avg. per client
- $15.8M
- Clients
- 5
- Regulatory AUM
- $701,581,270
- Share
- 5.5%
- Avg. per client
- $140.3M
- Clients
- 9
- Regulatory AUM
- $916,533,649
- Share
- 7.2%
- Avg. per client
- $101.8M
Total
- Clients
- 44
- Regulatory AUM
- $12,746,937,964
- Share
- 100%
- Avg. per client
- $289.7M
What it does
Duff & Phelps Investment Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Duff & Phelps Investment Management provided financial planning to 0 clients last fiscal year and advises no private funds.
100.0% of assets ($12.75B across 44 accounts) are managed with discretion. 11% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks82%
- Bonds17%
- U.S. government and agency bonds11%
- Investment grade corporate bonds5%
- State and local bonds1%
- Cash1%
Custodians
Duff & Phelps Investment Management’s client accounts are held mainly at State Street Bank & Trust, with $589,104,860,458 in filed separately managed account assets, and Citibank, N.A., with $1,230,509,471 in filed separately managed account assets. Duff & Phelps Investment Management does not have custody of client assets.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- The Bank of New York Mellon
- $1,228,394,347
- The Northern Trust Company
- $494,494,536
- State Street Bank & Trust Company
- $589,104,860,458
- Citibank, N.A.
- $1,230,509,471
Ownership and leadership
Virtus Partners, Inc. (direct Owner - Dpim'S Outstanding Stock) owns 75% or more of Duff & Phelps Investment Management.
- Owns 75% or more of Duff & Phelps Investment Management Co.
Virtus Partners, Inc. (direct Owner - Dpim'S Outstanding Stock)
Control person · since November 1995
- Owns 75% or more of Duff & Phelps Investment Management Co.
Virtus Investment Partners, Inc.
Control person · since November 2008
Leadership
- Michael AngerthalDirector, Executive Vice President and Treasurer
- David GrumhausDirector, President and Chief Investment Officer
- Kathleen HegyiChief Compliance Officer
- George AylwardDirector and Chairman
- Geoffrey DybasExecutive Managing Director
- Phillip EnochsExecutive Managing Director
- Daniel PetriskoExecutive Managing Director
- Andra PurkalitisChief Legal Officer & Director
- Steven WittwerExecutive Managing Director
Staff
- 53 employees
- 26 in advisory functions
- 2 state-registered reps
- 15 broker-dealer reps
- 4 soliciting firms
Reported holdings
Duff & Phelps Investment Management’s reported 13F holdings total $10.60B across 162 positions, and the ten largest make up 29.5% of it.
- $10.60B
- Reported 13F value
- 162
- Positions
- 29.5%
- In the 10 largest
- +10.0%
- Value vs. prior quarter
- Welltower Inc.6.5%
- Equinix Inc.4.2%
- Prologis Inc..4.1%
- Digital Rlty TR Inc.2.9%
- Ventas Inc.2.4%
- Simon Ppty Group Inc. New2.1%
- Public Storage1.9%
- Xcel Energy Inc.1.8%
- Sempra1.8%
- Entergy Corp. New1.8%
Together, the ten largest are 29.5% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $10.60B is not its $12.75B in regulatory assets and does not represent any individual client's portfolio.
Fees
Duff & Phelps Investment Management is paid through a percentage of assets under management and performance-based fees.
Duff & Phelps Investment Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Duff & Phelps Investment Management has 2 offices, with 3 listed addresses across 3 states.
Florida · 1 listed address
- 1290 Palmetto Avenue, Winter Park
Illinois · 1 listed address
- 10 S. Wacker Drive, 19th Floor, ChicagoHQ
Kansas · 1 listed address
- 8700 State Line Road, Leawood
Registration details
- Legal name
- Duff & Phelps Investment Management Co.
- Headquarters
- 10 S. Wacker Drive, 19th Floor, Chicago, IL 60606
- Phone
- 312-263-2610
- Website
- Not reported
- SEC file
- 801-14813
- Structure
- Illinois corporation
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Duff & Phelps Investment Management have?
Duff & Phelps Investment Management has 44 clients and manages $12.7 billion for them, as of April 2026. They include 14 investment companies, 9 corporations and other businesses and 7 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 17 April 2026
What services does Duff & Phelps Investment Management offer?
Duff & Phelps Investment Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Duff & Phelps Investment Management use?
Duff & Phelps Investment Management’s separately managed account assets are held at State Street Bank & Trust Company (Quincy, IL), with $589,104,860,458, Citibank, N.A. (Canary Wharf), with $1,230,509,471, The Bank of New York Mellon (Pittsburgh, PA), with $1,228,394,347 and The Northern Trust Company (Chicago, IL), with $494,494,536. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 April 2026
How many financial advisors does Duff & Phelps Investment Management have?
Duff & Phelps Investment Management has 2 investment adviser representatives registered with state securities authorities, out of 53 employees, and 26 perform investment advisory functions. 15 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Duff & Phelps Investment Management invest in?
At the end of its last fiscal year, Duff & Phelps Investment Management’s separately managed accounts held 82% exchange-traded equities, 11% U.S. government and agency bonds, 5% investment grade corporate bonds, 1% state and local bonds and 1% cash and equivalents. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Duff & Phelps Investment Management?
Duff & Phelps Investment Management’s direct owners are Virtus Partners, Inc. (direct Owner - Dpim'S Outstanding Stock) (75% or more) and Virtus Investment Partners, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 17 April 2026
How does Duff & Phelps Investment Management get paid?
Duff & Phelps Investment Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file