Cleveland-Cliffs Inc.
MX ˙ BMV ˙ US1858991011
SecurityMX:CLF / Cleveland-Cliffs Inc.
InstitutionBaird Financial Group, Inc.
Latest Disclosed Ownership35,530 shares
Latest Disclosed Value $ 300,229
Baird Financial Group, Inc. reports 17.40% decrease in ownership of CLF / Cleveland-Cliffs Inc.

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 35,530 shares of Cleveland-Cliffs Inc. (MX:CLF) valued at $300,229 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 43,014 shares of Cleveland-Cliffs Inc.. This represents a change in shares of -17.40% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F CLEVELAND CLIFFS INC COM 185899101 35,530 -7,484 -17.40 300 -47.46 0.0003
2026-02-13 2025-12-31 13F CLEVELAND-CLIFFS INC NEW COM COMMON 185899101 43,014 6,014 16.25 571 26.61 0.0009
2025-11-13 2025-09-30 13F CLEVELAND-CLIFFS COMMON 185899101 37,000 2,645 7.70 451 72.80 0.0007
2025-08-13 2025-06-30 13F CLEVELANDCLIFFS INC NEW COM COMMON 185899101 34,355 3,035 9.69 261 1.56 0.0005
2025-05-15 2025-03-31 13F CLEVELAND-CLIFFS INC NEW COM COMMON 185899101 31,320 12,492 66.35 257 46.02 0.0005
2025-02-14 2024-12-31 13F CLEVELANDCLIFFS COMMON 185899101 18,828 -9,453 -33.43 177 -51.25 0.0003
2024-11-14 2024-09-30 13F CLEVELANDCLIFFS COMMON 185899101 28,281 3,045 12.07 361 -6.96 0.0007
2024-08-14 2024-06-30 13F CLEVELANDCLIFFS COMMON 185899101 25,236 -2,144 -7.83 388 -37.62 0.0008
2024-05-14 2024-03-31 13F CLEVELAND-CLIFFS COMMON 185899101 27,380 -1,723 -5.92 623 4.71 0.0013
2024-02-14 2023-12-31 13F CLEVELAND-CLIFFS COMMON 185899101 29,103 -3,160 -9.79 594 17.86 0.0014
2023-11-13 2023-09-30 13F CLEVELAND-CLIFFS COMMON 185899101 32,263 -1,781 -5.23 504 -11.58 0.0014
2023-08-11 2023-06-30 13F CLEVELAND-CLIFFS COMMON 185899101 34,044 -43,062 -55.85 571 -59.66 0.0015
2023-05-15 2023-03-31 13F CLEVELAND-CLIFFS COMMON 185899101 77,106 946 1.24 1,413 141,200.00 0.0035
2023-02-13 2022-12-31 13F CLEVELAND-CLIFFS COMMON 185899101 76,160 -3,443 -4.33 1 -99.91 0.0032
2022-11-15 2022-09-30 13F CLEVELAND-CLIFFS COMMON 185899101 79,603 2,638 3.43 1,072 -9.38 0.0032
2022-08-08 2022-06-30 13F CLEVELAND CLIFFS COMMON 185899101 76,965 -1,962 -2.49 1,183 -53.46 0.0033
2022-05-13 2022-03-31 13F CLEVELAND CLIFFS COMMON 185899101 78,927 48,454 159.01 2,542 282.83 0.0063
2022-02-09 2021-12-31 13F CLEVELAND CLIFFS INC COM COMMON 185899101 30,473 -217,126 -87.69 664 -86.46 0.0016
2021-11-12 2021-09-30 13F CLEVELAND CLIFFS INC COM COMMON 185899101 247,599 201,140 432.94 4,905 389.52 0.0125
2021-08-11 2021-06-30 13F CLEVELAND-CLIFFS COMMON 185899101 46,459 21,869 88.93 1,002 102.42 0.0026
2021-05-13 2021-03-31 13F CLEVELAND-CLIFFS COMMON 185899101 24,590 0 0.00 495 38.27 0.0014
2021-02-11 2020-12-31 13F CLEVELAND-CLIFFS COMMON 185899101 24,590 4,890 24.82 358 184.13 0.0011
2020-11-12 2020-09-30 13F CLEVELAND-CLIFFS COMMON 185899101 19,700 2,654 15.57 126 34.04 0.0004
2020-10-22 2020-06-30 13F/A-1 CLEVELAND CLIFFS COMMON 185899101 17,046 146 0.86 94 40.30 0.0004
2020-08-14 2020-06-30 13F CLEVELAND CLIFFS COMMON 185899101 13,883 -3,017 117 231.8674
2020-05-14 2020-03-31 13F CLEVELAND-CLIFFS COMMON 185899101 16,900 940 5.89 67 -50.00 0.0003
2020-02-14 2019-12-31 13F CLEVELAND CLIFFS COMMON 185899101 15,960 1,660 11.61 134 30.10 0.0005
2019-11-14 2019-09-30 13F CLEVELAND-CLIFFS INC Common 185899101 14,300 -4,546 -24.12 103 -48.76 0.0004
2019-08-14 2019-06-30 13F CLEVELAND-CLIFFS INC COMMON 185899101 18,846 6,703 55.20 201 66.12 0.0008
2019-05-14 2019-03-31 13F CLEVELAND-CLIFFS COMMON 185899101 12,143 -7,500 -38.18 121 -19.87 0.0007
2019-02-14 2018-12-31 13F CLEVELAND-CLIFFS COMMON 185899101 19,643 1,000 5.36 151 -36.55 0.0010
2018-11-13 2018-09-30 13F CLEVELAND-CLIFFS COMMON 185899101 18,643 0 0.00 238 51.59 0.0015
2018-08-13 2018-06-30 13F CLEVELAND-CLIFFS COMMON 185899101 18,643 7,500 67.31 157 103.90 0.0011
2018-05-14 2018-03-31 13F CLEVELAND-CLIFFS COMMON 185899101 11,143 435 4.06 77 0.00 0.0005
2018-02-09 2017-12-31 13F CLEVELAND CLIFFS COMMON 185899101 10,708 -9,352 -46.62 77 -46.15 0.0005
2017-11-14 2017-09-30 13F CLEVELAND-CLIFFS COMMON 185899101 20,060 2,350 13.27 143 16.26 0.0011
2017-08-14 2017-06-30 13F CLIFFS NATURAL RES COMMON 18683K101 17,710 5,344 43.22 123 20.59 0.0010
2017-06-19 2017-03-31 13F/A-1 CLIFFS NATURAL RES COMMON 18683K101 12,366 -4,487 -26.62 102 -28.17 0.0008
2017-05-09 2017-03-31 13F CLIFFS NATURAL RES COMMON 18683K101 12,366 102
2017-02-10 2016-12-31 13F CLIFFS NATURAL RES COMMON 18683K101 16,853 2,630 18.49 142 71.08 0.0012
2016-11-10 2016-09-30 13F CLIFFS NATURAL RES COMMON 18683K101 14,223 318 2.29 83 -2.35 0.0007
2016-08-11 2016-06-30 13F CLIFFS NATURAL RES COMMON 18683K101 13,905 -1,267 -8.35 85 84.78 0.0008
2016-05-12 2016-03-31 13F CLIFFS NATURAL RES COMMON 18683K101 15,172 3,772 33.09 46 155.56 0.0004
2016-02-11 2015-12-31 13F CLIFFS NATURAL RES COMMON 18683K101 11,400 -500 -4.20 18 -37.93 0.0002
2015-11-12 2015-09-30 13F CLIFFS NATURAL RES COMMON 18683K101 11,900 -3,400 -22.22 29 -56.06 0.0003
2015-08-14 2015-06-30 13F CLIFFS NATURAL RES COMMON 18683K101 15,300 15,300 66 0.0006
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.