# Duff & Phelps Investment Management Co.

> Duff & Phelps Investment Management Co. is an SEC-registered investment advisory firm in Chicago, IL, registered since 1979, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 17, 2026.

- CRD: 107296
- Filed as: DUFF & PHELPS INVESTMENT MANAGEMENT CO.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: April 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107296
- AdvisorCensus page: https://advisorcensus.com/firm/duff-and-phelps-investment-management-co-chicago-il-107296

## Quick answers

**How is Duff & Phelps Investment Management Co. compensated?**
On its Form ADV (Item 5.E, October 2026), Duff & Phelps Investment Management Co. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Duff & Phelps Investment Management Co. located?**
Duff & Phelps Investment Management Co.'s principal office is in Chicago, IL, according to its Form ADV; the May 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Duff & Phelps Investment Management Co. registered with the SEC or a state?**
Duff & Phelps Investment Management Co. is an SEC-registered investment advisory firm, registered since 1979. Status as filed: Approved. CRD 107296.

**How much does Duff & Phelps Investment Management Co. manage?**
Duff & Phelps Investment Management Co. reports $12,746,937,964 in regulatory assets under management in its Form ADV filing dated April 17, 2026 (100% discretionary).

**How have Duff & Phelps Investment Management Co.'s assets and staff changed since 2021?**
In the Form ADV data for Duff & Phelps Investment Management Co.: Regulatory assets under management: $10,647,446,560 in the October 2021 data and $12,746,937,964 in the October 2026 data, up 20%. Total employees: 48 in October 2021 and 53 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Duff & Phelps Investment Management Co. serve?**
By number of clients on Form ADV Item 5.D: investment companies (14); corporations or other businesses not listed above (9); pension and profit sharing plans (but not the plan participants or government pension plans) (7).

**Which custodians does Duff & Phelps Investment Management Co. use?**
Duff & Phelps Investment Management Co.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon, Citibank, Institutional Investor Services and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Duff & Phelps Investment Management Co. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107296

**What changed in Duff & Phelps Investment Management Co.'s recent Form ADV filings?**
In the April 2026 filing data: Added an office in Winter Park, FL. No longer lists an office in Orlando, FL.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon
- Citibank
- Institutional Investor Services
- The Northern Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $12,746,937,964
- Discretionary: $12,746,937,964
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 14 | $7,509,926,606 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $1,476,915,731 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 7 | $2,094,498,566 |
| Charitable organizations | 3 | $47,482,142 |
| State or municipal government entities (including government pension plans) | 5 | $701,581,270 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 9 | $916,533,649 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1979 (47 years)
- Employees: 53 total, 26 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DE, FL, IL, KS, LA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Leawood, KS
- Winter Park, FL

### Websites listed on Form ADV (Item 1.I)
- [dpimc.com](https://dpimc.com)
- LinkedIn @duff-&-phelps-investment-management-co.
- X @duffandphelpsim

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $10,647,446,560 | 48 | April 13, 2021 |
| October 2022 | $12,231,648,111 | 48 | September 22, 2022 |
| October 2023 | $12,005,901,678 | 50 | June 6, 2023 |
| October 2024 | $12,279,294,336 | 54 | March 28, 2024 |
| October 2025 | $12,227,914,131 | 55 | March 28, 2025 |
| October 2026 | $12,746,937,964 | 53 | April 17, 2026 |

Regulatory assets under management: $10,647,446,560 in the October 2021 data and $12,746,937,964 in the October 2026 data, up 20%.
Total employees: 48 in October 2021 and 53 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Added an office in Winter Park, FL.
- No longer lists an office in Orlando, FL.

### January 2026
- No longer registered or notice-filed in AK, AL, AR, AZ, CA, CO, CT, DC, GA, HI, IA, ID, IN, KY, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, UT, VA, VI, VT, WA, WI, WV, WY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Duff & Phelps Investment Management Co. (CRD 107296): Form ADV filing data as of October 2026.