DUFF & PHELPS INVESTMENT MANAGEMENT CO Form 13F-HR Filed 2020-11-03

No.	Form 13F File Number	Name	CIK
1	028-00085	Virtus Investment Advisers, Inc.	0000019481
2	028-17877	VIRTUS ALTERNATIVE INVESTMENT ADVISERS, INC.	0001591068

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	July 31, 2015
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M COMPANY	Common Stock	88579Y101	1,077	6,725	SH		SOLE		6,725	0	0
ABBOTT LABS	Common Stock	002824100	2,265	20,810	SH		SOLE		20,810	0	0
ABBVIE INC	Common Stock	00287Y109	1,817	20,741	SH		SOLE		20,741	0	0
ACCENTURE PLC CLASS A	Common Stock	G1151C101	1,676	7,415	SH		SOLE		7,415	0	0
ADOBE INC	Common Stock	00724F101	2,778	5,665	SH		SOLE		5,665	0	0
ALEXANDRIA REAL ESTA REIT	REIT	015271109	53,741	335,880	SH		OTR	1	159,871	131,656	44,353
ALLIANT ENERGY CORP	Common Stock	018802108	109,074	2,111,790	SH		SOLE		2,111,790	0	0
ALLSTATE CORP	Common Stock	020002101	353	3,745	SH		SOLE		3,745	0	0
ALPHABET INC CLASS A	Common Stock	02079K305	4,324	2,950	SH		SOLE		2,950	0	0
ALPHABET INC CLASS C	Common Stock	02079K107	4,396	2,991	SH		SOLE		2,991	0	0
ALTRIA GROUP INC	Common Stock	02209S103	844	21,850	SH		SOLE		21,850	0	0
AMAZON COM INC	Common Stock	023135106	10,107	3,210	SH		SOLE		3,210	0	0
AMEREN CORPORATION	Common Stock	023608102	137,483	1,738,528	SH		OTR	1	1,605,300	133,228	0
AMERICAN EXPRESS CO	Common Stock	025816109	773	7,715	SH		SOLE		7,715	0	0
AMERICAN HOMES 4 R CL A	REIT	02665T306	75,999	2,668,502	SH		OTR	1	1,105,422	875,850	687,230
AMERICAN TOWER CORP	REIT	03027X100	109,236	451,892	SH		OTR	1	292,720	159,172	0
AMERICAN WTR WKS CO	Common Stock	030420103	107,536	742,239	SH		OTR	1	654,090	88,149	0
AMERICOLD RLTY TR	REIT	03064D108	3,799	106,269	SH		OTR	1	64,152	39,905	2,212
AMERN ELEC PWR INC	Common Stock	025537101	113,906	1,393,691	SH		OTR	1	1,182,140	211,551	0
AMERN INTL GROUP INC	Common Stock	026874784	277	10,075	SH		SOLE		10,075	0	0
AMGEN INC	Common Stock	031162100	1,763	6,935	SH		SOLE		6,935	0	0
APARTMENT INV&MGMT CL A	REIT	03748R754	48,469	1,437,393	SH		OTR	1	578,877	463,719	394,797
APPLE INC	Common Stock	037833100	12,206	105,400	SH		SOLE		105,400	0	0
AT&T INC	Common Stock	00206R102	67,740	2,376,025	SH		SOLE		2,376,025	0	0
ATMOS ENERGY CORP	Common Stock	049560105	92,699	969,755	SH		OTR	1	868,000	101,755	0
AVALONBAY COMMUNTIES REIT	REIT	053484101	98,927	662,426	SH		OTR	1	255,857	216,259	190,310
BANK OF AMERICA CORP	Common Stock	060505104	2,279	94,590	SH		SOLE		94,590	0	0
BCE INC	Common Stock	05534B760	50,573	1,219,515	SH		SOLE		1,219,515	0	0
BERKSHIRE HATHAWAY CLASS B	Common Stock	084670702	1,367	6,420	SH		SOLE		6,420	0	0
BIOGEN INC	Common Stock	09062X103	614	2,165	SH		SOLE		2,165	0	0
BLACK HILLS CORP	Common Stock	092113109	30,313	566,700	SH		SOLE		566,700	0	0
BLACKROCK INC	Common Stock	09247X101	1,045	1,855	SH		SOLE		1,855	0	0
BOEING CO	Common Stock	097023105	1,033	6,250	SH		SOLE		6,250	0	0
BOOKING HLDGS INC	Common Stock	09857L108	941	550	SH		SOLE		550	0	0
BOSTON PROPERTIES	REIT	101121101	57,543	716,600	SH		OTR	1	291,505	239,975	185,120
BRISTOL MYERS SQUIBB	Common Stock	110122108	1,652	27,405	SH		SOLE		27,405	0	0
BRIXMOR PROPERTY G COM USD0.01	REIT	11120U105	44,624	3,817,257	SH		OTR	1	1,482,991	1,288,881	1,045,385
CAPITAL ONE FINL CO	Common Stock	14040H105	389	5,410	SH		SOLE		5,410	0	0
CARRIER GLOBAL CORP COM USD0.01 WI	Common Stock	14448C104	284	9,290	SH		SOLE		9,290	0	0
CATERPILLAR INC	Common Stock	149123101	952	6,385	SH		SOLE		6,385	0	0
CDN PACIFIC RAILWAY	Common Stock	13645T100	26,556	87,395	SH		OTR	1	41,700	45,695	0
CENTERPOINT ENERGY	Master Ltd Part	15189T107	76,626	3,960,005	SH		OTR	1,2	3,556,600	403,405	0
CHARTER COMMUNICATIO CL A	Common Stock	16119P108	1,133	1,815	SH		SOLE		1,815	0	0
CHENIERE ENERGY INC	Master Ltd Part	16411R208	33,617	726,544	SH		OTR	1,2	523,000	203,544	0
CHENIERE ENERGY PRTN	Master Ltd Part	16411Q101	15,586	468,606	SH		OTR	2	458,606	10,000	0
CHEVRON CORP	Common Stock	166764100	1,587	22,045	SH		SOLE		22,045	0	0
CISCO SYSTEMS INC	Common Stock	17275R102	1,965	49,890	SH		SOLE		49,890	0	0
CITIGROUP INC	Common Stock	172967424	1,102	25,561	SH		SOLE		25,561	0	0
CMS ENERGY CORP	Common Stock	125896100	127,581	2,077,531	SH		OTR	1	1,890,820	186,711	0
COCA-COLA CO	Common Stock	191216100	2,238	45,340	SH		SOLE		45,340	0	0
COLGATE PALMOLIVE CO	Common Stock	194162103	772	10,010	SH		SOLE		10,010	0	0
COMCAST CORP CLASS A	Common Stock	20030N101	48,836	1,055,680	SH		SOLE		1,055,680	0	0
CONOCOPHILLIPS	Common Stock	20825C104	418	12,720	SH		SOLE		12,720	0	0
CORESITE RLTY CORP	REIT	21870Q105	1,242	10,450	SH		SOLE		10,450	0	0
COSTCO WHSL CORP	Common Stock	22160K105	1,819	5,125	SH		SOLE		5,125	0	0
COUSINS PPTYS INC	REIT	222795502	69,844	2,442,967	SH		OTR	1	960,526	799,215	683,226
CROWN CASTLE INTL	REIT	22822V101	221,337	1,329,350	SH		OTR	1	941,950	283,700	103,700
CUBESMART	REIT	229663109	72,887	2,255,870	SH		OTR	1	845,680	726,325	683,865
CVS HEALTH CORP	Common Stock	126650100	898	15,375	SH		SOLE		15,375	0	0
CYRUSONE	REIT	23283R100	67,793	968,060	SH		OTR	1	418,063	328,250	221,747
DANAHER CORP	Common Stock	235851102	1,601	7,435	SH		SOLE		7,435	0	0
DCP MIDSTREAM LLC COM UT LTD PTN	Master Ltd Part	23311P100	4,949	443,100	SH		OTR	2	421,000	22,100	0
DIGITAL RLTY TR INC	REIT	253868103	1,009	6,875	SH		SOLE		6,875	0	0
DOMINION ENERGY INC	Master Ltd Part	25746U109	149,620	1,895,599	SH		OTR	1	1,553,400	342,199	0
DOUGLAS EMMETT INC	REIT	25960P109	39,591	1,577,350	SH		OTR	1	619,034	517,613	440,703
DOW INC	Common Stock	260557103	417	8,871	SH		SOLE		8,871	0	0
DTE ENERGY CO	Common Stock	233331107	120,495	1,047,419	SH		OTR	1	973,250	74,169	0
DUKE ENERGY CORP	Common Stock	26441C204	210	2,370	SH		SOLE		2,370	0	0
DUKE REALTY CORP	REIT	264411505	107,282	2,907,362	SH		OTR	1	1,140,176	932,505	834,681
DUPONT DE NEMOURS COM	Common Stock	26614N102	478	8,621	SH		SOLE		8,621	0	0
EDISON INTL	Common Stock	281020107	71,295	1,402,331	SH		OTR	1	1,193,000	209,331	0
EMERSON ELEC CO	Common Stock	291011104	458	6,990	SH		SOLE		6,990	0	0
ENABLE MIDSTREAM P	Master Ltd Part	292480100	234	56,500	SH		OTR	2	0	56,500	0
ENBRIDGE INC	Master Ltd Part	29250N105	51,847	1,775,599	SH		OTR	1,2	1,155,945	619,654	0
ENERGY TRANSFER LP	Master Ltd Part	29273V100	23,043	4,251,458	SH		OTR	2	4,008,647	242,811	0
ENTERGY CORP	Common Stock	29364G103	15,863	161,000	SH		SOLE		161,000	0	0
ENTERPRISE PRODS	Master Ltd Part	293792107	41,919	2,654,785	SH		OTR	2	2,549,000	105,785	0
ENVIVA PARTNERS LP	Master Ltd Part	29414J107	262	6,500	SH		OTR	2	0	6,500	0
EQUINIX INC	REIT	29444U700	183,940	241,985	SH		OTR	1	109,109	87,208	45,668
EQUITRANS MIDST CORP	Master Ltd Part	294600101	12,436	1,470,000	SH		OTR	2	1,395,000	75,000	0
EQUITY LIFESTYLE PPT	REIT	29472R108	411	6,700	SH		SOLE		6,700	0	0
EQUITY RESIDENTIAL SH BEN INT	REIT	29476L107	83,429	1,625,348	SH		OTR	1	606,452	513,789	505,107
ESSENTIAL UTILITIES	Common Stock	29670G102	49,341	1,225,851	SH		OTR	1	1,019,110	206,741	0
EVERGY INC	Common Stock	30034W106	80,928	1,592,441	SH		SOLE		1,592,441	0	0
EVERSOURCE ENERGY	Common Stock	30040W108	130,046	1,556,500	SH		SOLE		1,556,500	0	0
EXTRA SPACE STORAGE REIT	REIT	30225T102	81,341	760,266	SH		OTR	1	278,957	240,260	241,049
EXXON MOBIL CORP	Common Stock	30231G102	1,707	49,715	SH		SOLE		49,715	0	0
FACEBOOK INC CLASS A	Common Stock	30303M102	7,404	28,270	SH		SOLE		28,270	0	0
FEDEX CORP	Common Stock	31428X106	724	2,880	SH		SOLE		2,880	0	0
FIRSTENERGY CORP	Common Stock	337932107	39,864	1,388,500	SH		SOLE		1,388,500	0	0
FORD MOTOR CO	Common Stock	345370860	299	44,860	SH		SOLE		44,860	0	0
FORTIS INC	Common Stock	349553107	67,575	1,658,026	SH		OTR	1	1,399,616	258,410	0
GASLOG LTD	Master Ltd Part	G37585109	43	15,840	SH		OTR	2	0	15,840	0
GENERAL DYNAMICS	Common Stock	369550108	375	2,710	SH		SOLE		2,710	0	0
GENERAL ELECTRIC CO	Common Stock	369604103	630	101,078	SH		SOLE		101,078	0	0
GENERAL MOTORS CO	Common Stock	37045V100	431	14,580	SH		SOLE		14,580	0	0
GENESIS ENERGY L P UNIT	Master Ltd Part	371927104	2,716	603,565	SH		OTR	2	475,000	128,565	0
GILEAD SCIENCES INC	Common Stock	375558103	935	14,790	SH		SOLE		14,790	0	0
GOLAR LNG LTD ORDINARY	Master Ltd Part	G9456A100	7,135	1,178,340	SH		OTR	2	1,168,000	10,340	0
GOLAR LNG PARTNERS	Master Ltd Part	Y2745C102	91	45,000	SH		OTR	2	0	45,000	0
GOLDMAN SACHS GROUP	Common Stock	38141G104	756	3,760	SH		SOLE		3,760	0	0
HEALTHPEAK PROPERTIE COM USD1	REIT	42250P103	95,131	3,503,920	SH		OTR	1	1,275,310	1,128,250	1,100,360
HESS MIDSTREAM LP CLASS A SHARE REPRES	Master Ltd Part	428103105	777	51,451	SH		OTR	2	0	51,451	0
HLTHCARE TR OF AMER	REIT	42225P501	58,811	2,261,972	SH		OTR	1	941,662	752,100	568,210
HOME DEPOT INC	Common Stock	437076102	3,538	12,740	SH		SOLE		12,740	0	0
HONEYWELL INTL INC	Common Stock	438516106	1,378	8,370	SH		SOLE		8,370	0	0
HOST HOTELS & RESRTS REIT	REIT	44107P104	19,123	1,772,328	SH		OTR	1	743,556	610,964	417,808
INTEL CORP	Common Stock	458140100	2,634	50,860	SH		SOLE		50,860	0	0
INTL BUSINESS MCHN	Common Stock	459200101	1,262	10,375	SH		SOLE		10,375	0	0
INVESCO DB COMMODITY INDEX TRAC	ETF	46138B103	836	64,024	SH		OTR	1	0	64,024	0
INVESCO DB MULTI-SEC GOLD FD	ETF	46140H601	2,242	40,500	SH		OTR	1	0	40,500	0
INVITATION HOMES	REIT	46187W107	48,723	1,740,734	SH		OTR	1	580,280	545,120	615,334
ISHARES RUS 2000 GRW ETF	ETF	464287648	10,349	46,720	SH		SOLE		46,720	0	0
ISHARES RUS 2000 VAL ETF	ETF	464287630	13,632	137,240	SH		SOLE		137,240	0	0
ISHARES S&P MC 400GR ETF	ETF	464287606	10,313	43,120	SH		SOLE		43,120	0	0
ISHARES S&P MC 400VL ETF	ETF	464287705	15,588	115,590	SH		SOLE		115,590	0	0
ISHARES TRUST CORE S&P TOTAL US STK MKT	ETF	464287150	73,877	978,630	SH		SOLE		978,630	0	0
JOHNSON & JOHNSON	Common Stock	478160104	4,603	30,915	SH		SOLE		30,915	0	0
JPMORGAN CHASE & CO	Common Stock	46625H100	3,533	36,695	SH		SOLE		36,695	0	0
KANSAS CITY SOUTHERN	Common Stock	485170302	8,535	47,200	SH		SOLE		47,200	0	0
KEYERA CORP	Master Ltd Part	493271100	5,780	384,120	SH		OTR	2	375,000	9,120	0
KINDER MORGAN INC	Master Ltd Part	49456B101	33,424	2,710,818	SH		OTR	1,2	2,053,440	657,378	0
KRAFT HEINZ CO	Common Stock	500754106	217	7,230	SH		SOLE		7,230	0	0
LILLY ELI & CO	Common Stock	532457108	1,462	9,880	SH		SOLE		9,880	0	0
LOCKHEED MARTIN CORP	Common Stock	539830109	1,106	2,885	SH		SOLE		2,885	0	0
LOWES CO	Common Stock	548661107	1,470	8,860	SH		SOLE		8,860	0	0
MAGELLAN MIDSTREAM	Master Ltd Part	559080106	16,582	484,860	SH		OTR	2	462,090	22,770	0
MARATHON PETROLEUM	Master Ltd Part	56585A102	5,787	197,250	SH		OTR	2	185,000	12,250	0
MASTERCARD INC CLASS A	Common Stock	57636Q104	3,509	10,375	SH		SOLE		10,375	0	0
MCDONALDS CORP	Common Stock	580135101	1,933	8,805	SH		SOLE		8,805	0	0
MEDTRONIC PLC SHS	Common Stock	G5960L103	1,631	15,695	SH		SOLE		15,695	0	0
MERCK & CO INC	Common Stock	58933Y105	2,469	29,763	SH		SOLE		29,763	0	0
METLIFE INC	Common Stock	59156R108	339	9,120	SH		SOLE		9,120	0	0
MICROSOFT CORP	Common Stock	594918104	11,364	54,030	SH		SOLE		54,030	0	0
MID-AMER APT CMNTYS REIT	REIT	59522J103	59,372	512,045	SH		OTR	1	206,070	169,400	136,575
MONDELEZ INTL INC	Common Stock	609207105	956	16,647	SH		SOLE		16,647	0	0
MORGAN STANLEY	Common Stock	617446448	689	14,245	SH		SOLE		14,245	0	0
MPLX LP	Master Ltd Part	55336V100	23,416	1,487,643	SH		OTR	2	1,412,427	75,216	0
NETFLIX INC	Common Stock	64110L106	2,570	5,140	SH		SOLE		5,140	0	0
NEW JERSEY RES CORP	Common Stock	646025106	29,225	1,081,600	SH		SOLE		1,081,600	0	0
NEXTERA ENERGY INC	Master Ltd Part	65339F101	169,239	609,737	SH		OTR	1	463,550	146,187	0
NEXTERA ENERGY LPU COM UNIT RP IN	Master Ltd Part	65341B106	55,760	929,960	SH		OTR	2	927,150	2,810	0
NGL ENERGY PARTNER	Master Ltd Part	62913M107	290	73,171	SH		OTR	2	0	73,171	0
NIKE INC CLASS B	Common Stock	654106103	1,825	14,540	SH		SOLE		14,540	0	0
NISOURCE INC	Common Stock	65473P105	66,235	3,010,686	SH		OTR	1	2,655,000	355,686	0
NORFOLK SOUTHERN	Common Stock	655844108	24,098	112,612	SH		OTR	1	25,000	87,612	0
NORTHWEST NATURAL HL	Common Stock	66765N105	36,312	800,000	SH		SOLE		800,000	0	0
NUSTAR ENERGY LP	Master Ltd Part	67058H102	459	43,200	SH		OTR	2	0	43,200	0
NVIDIA CORP	Common Stock	67066G104	3,913	7,230	SH		SOLE		7,230	0	0
OCCIDENTAL PETE CORP	Master Ltd Part	674599105	104	10,340	SH		SOLE		10,340	0	0
OGE ENERGY CORP	Common Stock	670837103	68,977	2,300,000	SH		SOLE		2,300,000	0	0
ONE GAS INC	Common Stock	68235P108	39,750	576,000	SH		SOLE		576,000	0	0
ONEOK INC	Master Ltd Part	682680103	11,359	437,235	SH		OTR	2	417,150	20,085	0
ORACLE CORP	Common Stock	68389X105	1,512	25,330	SH		SOLE		25,330	0	0
OTIS WORLDWIDE CORP	Common Stock	68902V107	290	4,645	SH		SOLE		4,645	0	0
PAYPAL HLDGS INC COM	Common Stock	70450Y103	2,705	13,730	SH		SOLE		13,730	0	0
PEMBINA PIPELINE	Master Ltd Part	706327103	33,552	1,585,877	SH		OTR	1,2	1,313,600	272,277	0
PEPSICO INC	Common Stock	713448108	2,261	16,310	SH		SOLE		16,310	0	0
PFIZER INC	Common Stock	717081103	2,385	64,988	SH		SOLE		64,988	0	0
PHILIP MORRIS INTL	Common Stock	718172109	1,364	18,195	SH		SOLE		18,195	0	0
PHILLIPS 66	Master Ltd Part	718546104	4,207	81,150	SH		OTR	2	75,000	6,150	0
PHILLIPS 66 PARTNERS	Master Ltd Part	718549207	4,530	196,619	SH		OTR	2	183,419	13,200	0
PINNACLE WEST CAP	Common Stock	723484101	79,254	1,063,100	SH		SOLE		1,063,100	0	0
PLAINS ALL AMERN PIP UNIT	Master Ltd Part	726503105	17,285	2,890,400	SH		OTR	2	2,760,400	130,000	0
PLAINS GP HLDINGS LP CL A SHS LPI	Master Ltd Part	72651A207	216	35,434	SH		OTR	2	0	35,434	0
PROCTER AND GAMBLE C COM	Common Stock	742718109	4,052	29,150	SH		SOLE		29,150	0	0
PROLOGIS INC	REIT	74340W103	205,275	2,040,100	SH		OTR	1	762,832	660,930	616,338
PUBLIC SVC ENTERPR	Common Stock	744573106	125,654	2,288,355	SH		OTR	1	2,012,600	275,755	0
QUALCOMM INC	Common Stock	747525103	1,582	13,445	SH		SOLE		13,445	0	0
RATTLER MIDSTREAM COM NPV	Master Ltd Part	75419T103	4,215	708,370	SH		OTR	2	610,000	98,370	0
RAYTHEON TECHNOLOGIE COM USD1	Common Stock	75513E101	983	17,089	SH		SOLE		17,089	0	0
REGENCY CENTERS CORP REIT	REIT	758849103	40,884	1,075,319	SH		OTR	1	450,438	367,600	257,281
REXFORD INDUSTRIAL COM USD0.01	REIT	76169C100	31,263	683,185	SH		OTR	1	310,250	265,700	107,235
RLJ LODGING TRUST	REIT	74965L101	17,112	1,975,994	SH		OTR	1	911,041	753,147	311,806
RYMAN HOSPITALITY	REIT	78377T107	24,736	672,183	SH		OTR	1	250,900	219,961	201,322
SALESFORCE.COM	Common Stock	79466L302	2,661	10,590	SH		SOLE		10,590	0	0
SCHLUMBERGER LTD	Common Stock	806857108	250	16,055	SH		SOLE		16,055	0	0
SCHWAB STRATEGIC T US TIPS ETF	ETF	808524870	1,510	24,500	SH		OTR	1	0	24,500	0
SEMPRA ENERGY	Master Ltd Part	816851109	107,852	911,219	SH		OTR	1,2	744,200	167,019	0
SHELL MIDSTREAM PA COM UNITS REPR LPRTN	Master Ltd Part	822634101	170	18,000	SH		OTR	2	0	18,000	0
SIMON PPTY INC	REIT	828806109	50,599	782,290	SH		OTR	1	313,979	259,623	208,688
SOUTH JERSEY INDS	Common Stock	838518108	28,905	1,500,000	SH		SOLE		1,500,000	0	0
SOUTHERN CO	Common Stock	842587107	100,677	1,856,830	SH		SOLE		1,856,830	0	0
SPDR INDEX SHARES S&P GL NAT RES ETF	ETF	78463X541	1,406	37,450	SH		OTR	1	0	37,450	0
SPDR SERIES TRUST PORTFOLIO INTERMEDIA	ETF	78464A375	11,889	323,410	SH		SOLE		323,410	0	0
SPIRE INC	Common Stock	84857L101	47,578	894,330	SH		OTR	1	840,900	53,430	0
SPIRIT REALTY CAPI	REIT	84860W300	52,700	1,561,492	SH		OTR	1	595,571	527,513	438,408
STARBUCKS CORP	Common Stock	855244109	1,193	13,885	SH		SOLE		13,885	0	0
STORE CAP CORP COM	REIT	862121100	65,018	2,370,315	SH		OTR	1	934,570	808,990	626,755
SUN COMMUNITIES	REIT	866674104	101,361	720,865	SH		OTR	1	271,319	232,822	216,724
SUNOCO LP/SUNOCO FIN COM UT REP LP	Master Ltd Part	86765K109	8,728	357,835	SH		OTR	2	337,335	20,500	0
TARGA RESOURCES IN	Master Ltd Part	87612G101	15,873	1,131,395	SH		OTR	2	1,040,120	91,275	0
TARGET CORPORATION	Common Stock	87612E106	922	5,855	SH		SOLE		5,855	0	0
TC PIPELINES LP	Master Ltd Part	87233Q108	230	9,000	SH		OTR	2	0	9,000	0
TELUS CORP	Common Stock	87971M103	44,915	2,560,600	SH		SOLE		2,560,600	0	0
TEXAS INSTRUMENTS	Common Stock	882508104	1,544	10,815	SH		SOLE		10,815	0	0
THERMO FISHER SCI	Common Stock	883556102	2,035	4,610	SH		SOLE		4,610	0	0
TRANSCANADA PIPELINE COM	Master Ltd Part	87807B107	60,508	1,441,265	SH		OTR	1,2	1,124,000	317,265	0
UNION PAC CORP	Common Stock	907818108	44,170	224,361	SH		OTR	1	91,230	133,131	0
UNITED PARCEL SERVIC CLASS B	Common Stock	911312106	1,388	8,330	SH		SOLE		8,330	0	0
UNITEDHEALTH GRP INC	Common Stock	91324P102	3,458	11,090	SH		SOLE		11,090	0	0
US BANCORP DEL	Common Stock	902973304	594	16,572	SH		SOLE		16,572	0	0
USA COMPRESSION PA	Master Ltd Part	90290N109	420	42,000	SH		OTR	2	0	42,000	0
VANGUARD FTSE EMERGING MARKETS ETF	ETF	922042858	6,337	146,560	SH		SOLE		146,560	0	0
VANGUARD INDEX TR TOTAL STOCK MARKET	ETF	922908769	22,705	133,315	SH		SOLE		133,315	0	0
VANGUARD INTL EQUITY ETF ALL-WORLD EX-US	ETF	922042775	26,633	527,915	SH		SOLE		527,915	0	0
VANGUARD TAX MANAGED FTSE DEV MKT ETF	ETF	921943858	24,012	587,090	SH		SOLE		587,090	0	0
VEREIT INC	REIT	92339V100	49,931	7,681,710	SH		OTR	1	3,257,050	2,620,800	1,803,860
VERIZON COMMUNICATIO	Common Stock	92343V104	96,080	1,615,059	SH		SOLE		1,615,059	0	0
VICI PPTYS INC COM	REIT	925652109	30,237	1,293,834	SH		OTR	1	523,886	442,587	327,361
VISA INC CLASS A	Common Stock	92826C839	4,003	20,020	SH		SOLE		20,020	0	0
VODAFONE GRP PLC ADR	ADR	92857W308	10,497	782,200	SH		SOLE		782,200	0	0
WALGREENS BOOTS ALNC	Common Stock	931427108	314	8,740	SH		SOLE		8,740	0	0
WALMART INC	Common Stock	931142103	2,313	16,535	SH		SOLE		16,535	0	0
WALT DISNEY CO	Common Stock	254687106	2,626	21,164	SH		SOLE		21,164	0	0
WEC ENERGY GROUP INC	Common Stock	92939U106	98,470	1,016,200	SH		SOLE		1,016,200	0	0
WEINGARTEN RLTY INVS SH BEN INT	REIT	948741103	15,572	918,150	SH		OTR	1	497,600	342,650	77,900
WELLS FARGO & CO	Common Stock	949746101	763	32,440	SH		SOLE		32,440	0	0
WELLTOWER INC REIT	REIT	95040Q104	68,750	1,247,960	SH		OTR	1	510,275	417,870	319,815
WESTLAKE CHEM PRTNRS LP COM UNIT RP LP	Master Ltd Part	960417103	6,600	352,020	SH		SOLE		352,020	0	0
WILLIAMS COS INC	Master Ltd Part	969457100	47,748	2,429,909	SH		OTR	1,2	1,952,647	477,262	0
XCEL ENERGY INC	Common Stock	98389B100	100,014	1,449,274	SH		OTR	1	1,386,900	62,374	0

Check here if Amendment:	☐ Amendment Number:
This Amendment (Check only one.):	☐ is a restatement. ☐ adds new holdings entries.

Name:	DUFF & PHELPS INVESTMENT MANAGEMENT CO
Address:	200 SOUTH WACKER DRIVE
	SUITE 500
	CHICAGO, IL 60606
Form 13F File Number:	028-01420

Name:	William J. Renahan
Title:	Chief Compliance Officer
Phone:	312-917-6515

Number of Other Included Managers:	2
Form 13F Information table Entry Total:	222
Form 13F Information table Value Total:	6447824 (thousands)

Institutional Investment Manager Filing this Report:

Signature, Place, and Date of Signing:

Report Type (Check only one.):

Form 13F Summary Page

Report Summary:

List of Other Included Managers: