The California State Teachers Retirement System (CalSTRS) significantly increased its holdings in Iron Mountain during the second quarter.
According to a recent 13F filing, the pension fund acquired over 54.4 million shares. This purchase represents a 12,879.2% increase in the fund's stake.
CalSTRS now owns approximately 18.44% of the company. The total holding is valued at nearly $7 billion.
The investment signals institutional confidence in Iron Mountain’s expansion into data centers and digital services. Other hedge funds have also been adjusting their positions in the real estate investment trust.