Cleveland-Cliffs Inc.
MX ˙ BMV ˙ US1858991011
SecurityMX:CLF / Cleveland-Cliffs Inc.
InstitutionJB Capital LLC
Latest Disclosed Ownership462,593 shares
Latest Disclosed Value $ 3,908,913
JB Capital LLC reports 105.59% increase in ownership of CLF / Cleveland-Cliffs Inc.

On April 27, 2026 - JB Capital LLC filed a 13F-HR form disclosing ownership of 462,593 shares of Cleveland-Cliffs Inc. (MX:CLF) valued at $3,908,913 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 20, 2026 disclosing 225,009 shares of Cleveland-Cliffs Inc.. This represents a change in shares of 105.59% 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)
2026-04-27 2026-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 462,593 237,584 105.59 3,909 30.79 0.1579
2026-01-20 2025-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 225,009 27,064 13.67 2,988 23.78 0.1220
2025-10-20 2025-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 197,945 40,556 25.77 2,415 101.84 0.1042
2025-07-24 2025-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 157,389 20,092 14.63 1,196 6.03 0.0580
2025-04-23 2025-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 137,297 35,049 34.28 1,129 17.38 0.0622
2025-01-24 2024-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 102,248 15,046 17.25 961 -13.66 0.0538
2024-10-31 2024-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 87,202 -12,498 -12.54 1,114 -27.44 0.0639
2024-07-24 2024-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 99,700 27,923 38.90 1,534 -6.00 0.0961
2024-04-30 2024-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 71,777 8,137 12.79 1,632 25.64 0.1087
2024-01-22 2023-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 63,640 11,264 21.51 1,300 58.80 0.0959
2023-10-25 2023-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 52,376 17,452 49.97 819 39.83 0.0691
2023-07-25 2023-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 34,924 3,349 10.61 585 1.21 0.0494
2023-04-25 2023-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 31,575 1,400 4.64 579 18.93 0.0528
2023-01-23 2022-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 30,175 544 1.84 486 21.80 0.0476
2022-10-14 2022-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 29,631 -449 -1.49 399 -13.64 0.0438
2022-07-28 2022-06-30 13F ClevelandCliffs COM 185899101 30,080 -276 -0.91 462 -52.76 0.0496
2022-04-19 2022-03-31 13F Cleveland-Cliffs COM 185899101 30,356 2,938 10.72 978 -99.84 0.0952
2022-02-02 2021-12-31 13F ClevelandCliffs COM 185899101 27,418 6,084 28.52 596,910 141,013.48 0.0584
2021-12-08 2021-09-30 13F ClevelandCliffs COMMON STOCK 185899101 21,334 21,334 423 0.0547
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.