The top contributor in the quarter was Iron Mountain (NYSE:IRM), a REIT that provides paper and digital records storage and services. IRM appreciated 25% during the quarter in part on the strength in REITs and in part due to its progress in gaining antitrust approval for its acquisition of global rival Recall Holdings. The deal was approved after the quarter ended.
From the Keeley Mid-Cap Dividend Fund first quarter 2016 commentary.