Cleveland-Cliffs Inc.
MX ˙ BMV ˙ US1858991011
SecurityMX:CLF / Cleveland-Cliffs Inc.
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership10,465,242 shares
Latest Disclosed Value $ 88,460,822
Geode Capital Management, Llc reports 4.24% increase in ownership of CLF / Cleveland-Cliffs Inc.

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 10,465,242 shares of Cleveland-Cliffs Inc. (MX:CLF) valued at $88,460,822 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 10,039,851 shares of Cleveland-Cliffs Inc.. This represents a change in shares of 4.24% 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.

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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)
2026-05-15 2026-03-31 13F CLEVELAND-CLIFFS COM 185899101 10,465,242 425,391 4.24 88,461 -33.67 0.0029
2026-02-09 2025-12-31 13F CLEVELAND-CLIFFS COM 185899101 10,039,851 1,286,042 14.69 133,372 24.85 0.0082
2025-11-12 2025-09-30 13F CLEVELAND-CLIFFS COM 185899101 8,753,809 370,607 4.42 106,826 67.63 0.0068
2025-08-08 2025-06-30 13F CLEVELAND-CLIFFS COM 185899101 8,383,202 -472,862 -5.34 63,729 -12.48 0.0045
2025-05-13 2025-03-31 13F CLEVELAND-CLIFFS COM 185899101 8,856,064 389,317 4.60 72,819 -8.53 0.0057
2025-02-12 2024-12-31 13F CLEVELAND-CLIFFS COM 185899101 8,466,747 264,078 3.22 79,611 -24.02 0.0062
2024-11-12 2024-09-30 13F CLEVELAND-CLIFFS COM 185899101 8,202,669 -45,694 -0.55 104,774 -17.32 0.0085
2024-08-09 2024-06-30 13F CLEVELAND-CLIFFS COM 185899101 8,248,363 -112,322 -1.34 126,721 -33.23 0.0111
2024-05-13 2024-03-31 13F CLEVELAND-CLIFFS COM 185899101 8,360,685 346,019 4.32 189,793 16.16 0.0176
2024-02-13 2023-12-31 13F CLEVELAND-CLIFFS COM 185899101 8,014,666 201,401 2.58 163,393 33.96 0.0171
2023-11-13 2023-09-30 13F CLEVELAND-CLIFFS COM 185899101 7,813,265 150,765 1.97 121,974 -4.87 0.0145
2023-08-11 2023-06-30 13F CLEVELAND-CLIFFS COM 185899101 7,662,500 186,299 2.49 128,217 -6.31 0.0151
2023-05-15 2023-03-31 13F CLEVELAND-CLIFFS COM 185899101 7,476,201 150,571 2.06 136,853 116,867.52 0.0178
2023-02-13 2022-12-31 13F CLEVELAND-CLIFFS COM 185899101 7,325,630 211,682 2.98 118 -99.88 0.0165
2022-11-14 2022-09-30 13F CLEVELAND-CLIFFS COM 185899101 7,113,948 306,117 4.50 95,754 -8.38 0.0145
2022-08-12 2022-06-30 13F CLEVELAND-CLIFFS COM 185899101 6,807,831 413,654 6.47 104,514 -49.25 0.0153
2022-05-13 2022-03-31 13F CLEVELAND-CLIFFS COM 185899101 6,394,177 440,032 7.39 205,956 58.89 0.0257
2022-02-11 2021-12-31 13F CLEVELAND-CLIFFS COM 185899101 5,954,145 387,659 6.96 129,621 17.51 0.0156
2021-11-12 2021-09-30 13F CLEVELAND-CLIFFS COM 185899101 5,566,486 -322,865 -5.48 110,308 -13.13 0.0148
2021-08-13 2021-06-30 13F CLEVELAND-CLIFFS COM 185899101 5,889,351 -1,768,611 -23.10 126,974 -17.55 0.0175
2021-05-12 2021-03-31 13F CLEVELAND-CLIFFS COM 185899101 7,657,962 1,798,232 30.69 154,001 80.50 0.0236
2021-02-12 2020-12-31 13F CLEVELAND-CLIFFS COM 185899101 5,859,730 363,732 6.62 85,317 141.80 0.0143
2020-11-13 2020-09-30 13F CLEVELAND-CLIFFS COM 185899101 5,495,998 -186,760 -3.29 35,284 12.48 0.0069
2020-08-13 2020-06-30 13F CLEVELAND-CLIFFS COM 185899101 5,682,758 167,705 3.04 31,368 44.00 0.0067
2020-05-14 2020-03-31 13F CLEVELAND-CLIFFS COM 185899101 5,515,053 2,038,877 58.65 21,784 -25.39 0.0057
2020-02-20 2019-12-31 13F/A-1 CLEVELAND-CLIFFS COM 185899101 3,476,176 155,504 4.68 29,199 21.79 0.0061
2020-02-13 2019-12-31 13F CLEVELAND-CLIFFS COM 185899101 3,476,176 155,504 29,199 3,721.1565
2019-11-12 2019-09-30 13F CLEVELAND-CLIFFS COM 185899101 3,320,672 -136,474 -3.95 23,975 -35.00 0.0056
2019-08-14 2019-06-30 13F CLEVELAND-CLIFFS COM 185899101 3,457,146 98,478 2.93 36,887 9.94 0.0089
2019-05-14 2019-03-31 13F CLEVELAND-CLIFFS COM 185899101 3,358,668 210,159 6.67 33,553 38.58 0.0087
2019-03-06 2018-12-31 13F/A-1 CLEVELAND-CLIFFS COM 185899101 3,148,509 267,622 9.29 24,212 -33.61 0.0075
2019-02-13 2018-12-31 13F CLEVELAND-CLIFFS COM 185899101 3,148,509 267,622 24,212
2018-11-13 2018-09-30 13F CLEVELAND-CLIFFS COM 185899101 2,880,887 180,106 6.67 36,472 60.20 0.0103
2018-08-14 2018-06-30 13F CLEVELAND-CLIFFS COM 185899101 2,700,781 158,271 6.22 22,767 28.85 0.0070
2018-05-15 2018-03-31 13F CLEVELAND-CLIFFS COM 185899101 2,542,510 -210,630 -7.65 17,670 -10.98 0.0058
2018-02-13 2017-12-31 13F CLEVELAND-CLIFFS COM 185899101 2,753,140 -520,476 -15.90 19,850 -15.19 0.0067
2017-11-14 2017-09-30 13F CLEVELAND-CLIFFS COMSTK 185899101 3,273,616 1,025,584 45.62 23,406 50.46 0.0086
2017-08-14 2017-06-30 13F CLIFFS NATURAL RESOURCES COM 18683K101 2,248,032 -877,651 -28.08 15,556 -39.38 0.0061
2017-06-21 2017-03-31 13F/A-1 CLIFFS NATURAL RESOURCES COM 18683K101 3,125,683 721,544 30.01 25,661 26.93 0.0105
2017-05-12 2017-03-31 13F CLIFFS NATURAL RESOURCES COM 18683K101 3,125,683 25,661
2017-02-14 2016-12-31 13F CLIFFS NATURAL RESOURCES COM 18683K101 2,404,139 129,359 5.69 20,217 51.93 0.0094
2016-11-10 2016-09-30 13F CLIFFS NATURAL RESOURCES COM 18683K101 2,274,780 1,111,493 95.55 13,307 101.80 0.0067
2016-08-12 2016-06-30 13F CLIFFS NATURAL RESOURCES COM 18683K101 1,163,287 130,324 12.62 6,594 112.85 0.0036
2016-05-13 2016-03-31 13F CLIFFS NATURAL RESOURCES COM 18683K101 1,032,963 135,590 15.11 3,098 118.63 0.0016
2016-02-12 2015-12-31 13F CLIFFS NATURAL RESOURCES COM 18683K101 897,373 -11,104 -1.22 1,417 -36.06 0.0008
2015-11-13 2015-09-30 13F CLIFFS NATURAL RESOURCES COM 18683K101 908,477 5,175 0.57 2,216 -43.34 0.0013
2015-08-14 2015-06-30 13F CLIFFS NATURAL RESOURCES COM 18683K101 903,302 42,515 4.94 3,911 -5.51 0.0022
2015-05-14 2015-03-31 13F CLIFFS NATURAL RESOURCES COM 18683K101 860,787 65,161 8.19 4,139 -27.13 0.0024
2015-02-12 2014-12-31 13F CLIFFS NATURAL RESOURCES COM 18683K101 795,626 6,442 0.82 5,680 -30.66 0.0034
2014-11-14 2014-09-30 13F CLIFFS NATURAL RESOURCES COM 18683K101 789,184 6,974 0.89 8,191 -30.41 0.0053
2014-08-13 2014-06-30 13F CLEVELAND CLIFFS INC COM COM 18683K101 782,210 -350,584 -30.95 11,771 -49.20 0.0076
2014-05-14 2014-03-31 13F CLEVELAND CLIFFS INC COM COM 18683K101 1,132,794 10,591 0.94 23,169 -21.21 0.0155
2014-02-14 2013-12-31 13F CLEVELAND CLIFFS INC COM COM 18683K101 1,122,203 54,529 5.11 29,406 34.37 0.0204
2013-11-14 2013-09-30 13F CLEVELAND CLIFFS INC COM COM 18683K101 1,067,674 42,342 4.13 21,884 31.36 0.0175
2013-08-14 2013-06-30 13F CLEVELAND CLIFFS INC COM COM 18683K101 1,025,332 1,025,332 16,659 0.0146
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.