Plant breeding with elite parents within closed populations has proven to be a successful strategy to achieve genetic gains and conserve favorable gene complexes. To investigate the effects of advanced cycle breeding on genetic gain, phenotypic variation, and germplasm differentiation, 15 agronomic and malting quality traits were evaluated for a set 98 genotypes including ancestors, parental founders, and elite breeding lines developed at the University of Minnesota barley (Hordeum vulgare L.) breeding program between 1958 and 1998.