Cleveland-Cliffs Inc.
MX ˙ BMV ˙ US1858991011
SecurityMX:CLF / Cleveland-Cliffs Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership8,890,246 shares
Latest Disclosed Value $ 75,122,586
Morgan Stanley reports 13.07% increase in ownership of CLF / Cleveland-Cliffs Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 8,890,246 shares of Cleveland-Cliffs Inc. (MX:CLF) valued at $75,122,586 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 7,862,669 shares of Cleveland-Cliffs Inc.. This represents a change in shares of 13.07% 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)
2026-05-15 2026-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 8,890,246 1,027,577 13.07 75,123 -28.06 0.0045
2026-05-27 2025-12-31 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 7,862,669 1,157,775 17.27 104,416 27.65 0.0062
2026-02-13 2025-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 7,862,669 1,157,775 104,416 0.0062
2026-05-27 2025-09-30 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 6,704,894 -3,680,123 -35.44 81,800 3.64 0.0050
2025-11-14 2025-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 6,704,894 -3,680,123 81,800 0.0050
2025-08-15 2025-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 10,385,017 1,938,536 22.95 78,926 13.68 0.0051
2025-05-15 2025-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 8,446,481 418,921 5.22 69,430 -7.99 0.0050
2025-05-15 2024-12-31 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 8,027,560 564,930 7.57 75,459 -20.82 0.0053
2025-02-14 2024-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 8,027,560 564,930 75,459 0.0053
2025-05-14 2024-09-30 13F/A-2 CLEVELAND-CLIFFS INC COM 185899101 7,462,630 281,542 3.92 95,298 -13.77 0.0069
2025-02-14 2024-09-30 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 7,462,630 281,542 95,298 0.0069
2024-11-14 2024-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 7,462,630 281,542 95,298 0.0069
2025-05-14 2024-06-30 13F/A-2 CLEVELAND-CLIFFS INC COM 185899101 7,181,088 285,793 4.14 110,517 -29.52 0.0086
2024-10-17 2024-06-30 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 7,181,088 285,793 110,517 0.0086
2024-08-14 2024-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 7,181,088 285,793 110,517 0.0086
2024-10-17 2024-03-31 13F/A-2 CLEVELAND-CLIFFS INC COM 185899101 6,895,295 581,252 9.21 156,799 21.61 0.0126
2024-08-16 2024-03-31 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 6,895,295 581,252 156,799 0.0015
2024-05-15 2024-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 6,895,295 581,252 156,799 0.0126
2024-08-16 2023-12-31 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 6,314,043 -422,016 -6.27 128,933 22.46 0.0114
2024-02-13 2023-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 6,314,043 -422,016 128,933 0.0114
2023-11-15 2023-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 6,736,059 426,046 6.75 105,285 -0.45 0.0107
2023-08-14 2023-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 6,310,013 91,962 1.48 105,756 -7.21 0.0104
2023-05-15 2023-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 6,218,051 -637,809 -9.30 113,977 3.20 0.0122
2023-02-14 2022-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 6,855,860 98,117 1.45 110,448 21.33 0.0125
2022-11-14 2022-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 6,757,743 666,094 10.93 91,028 -2.78 0.0124
2022-10-27 2022-06-30 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 6,091,649 1,168,395 23.73 93,629 -40.96 0.0122
2022-08-15 2022-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 6,091,649 1,168,395 93,629 0.0122
2022-10-27 2022-03-31 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 4,923,254 -557,414 -10.17 158,579 32.91 0.0214
2022-05-13 2022-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 4,923,254 -557,414 158,579 0.0214
2022-02-14 2021-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 5,480,668 194,041 3.67 119,314 13.93 0.0147
2021-11-15 2021-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 5,286,627 -543,828 -9.33 104,729 -16.69 0.0141
2021-08-23 2021-06-30 13F/A-1 CLEVELAND-CLIFFS INC COM 185899101 5,830,455 1,786,464 44.18 125,705 54.57 0.0166
2021-08-16 2021-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 5,830,455 1,786,464 125,705 0.0034
2021-05-17 2021-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 4,043,991 -617,965 -13.26 81,323 19.81 0.0119
2021-02-16 2020-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 4,661,956 683,352 17.18 67,878 165.74 0.0105
2020-11-13 2020-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 3,978,604 -45,248 -1.12 25,543 15.00 0.0049
2020-08-14 2020-06-30 13F CLEVELAND CLIFFS COM 185899101 4,023,852 -761,137 -15.91 22,212 17.52 0.0049
2020-05-26 2020-03-31 13F/A-1 CLEVELAND CLIFFS COM 185899101 4,784,989 -798,707 -14.30 18,901 -59.70 0.0051
2020-05-15 2020-03-31 13F CLEVELAND CLIFFS COM 185899101 4,784,989 -798,707 18,901 1,451.9908
2020-02-14 2019-12-31 13F CLEVELAND CLIFFS COM 185899101 5,583,696 3,663,427 190.78 46,902 238.28 0.0109
2019-11-14 2019-09-30 13F CLEVELAND CLIFFS COM 185899101 1,920,269 274,223 16.66 13,865 -21.06 0.0037
2019-08-14 2019-06-30 13F CLEVELAND CLIFFS COM 185899101 1,646,046 196,850 13.58 17,563 21.31 0.0047
2019-05-15 2019-03-31 13F CLEVELAND CLIFFS COM 185899101 1,449,196 -551,722 -27.57 14,478 -5.91 0.0041
2019-02-14 2018-12-31 13F CLEVELAND CLIFFS COM 185899101 2,000,918 -1,191,309 -37.32 15,387 -61.93 0.0046
2019-04-23 2018-09-30 13F/A-2 CLEVELAND CLIFFS COM 185899101 3,192,227 -135,955 -4.08 40,413 44.04 0.0101
2018-11-20 2018-09-30 13F/A-1 CLEVELAND CLIFFS COM 185899101 3,192,227 0 40,413 0.0101
2018-11-14 2018-09-30 13F CLEVELAND CLIFFS COM 185899101 3,192,227 -135,955 40,413
2019-04-23 2018-06-30 13F/A-1 CLEVELAND CLIFFS COM 185899101 3,328,182 569,151 20.63 28,056 46.32 0.0076
2018-08-14 2018-06-30 13F CLEVELAND CLIFFS COM 185899101 3,328,182 569,151 28,056
2019-04-23 2018-03-31 13F/A-1 CLEVELAND CLIFFS COM 185899101 2,759,031 153,382 5.89 19,175 2.07 0.0053
2018-05-14 2018-03-31 13F CLEVELAND CLIFFS COM 185899101 2,759,031 153,382 19,175
2019-04-23 2017-12-31 13F/A-1 CLEVELAND CLIFFS COM 185899101 2,605,649 274,947 11.80 18,787 12.73 0.0051
2018-02-14 2017-12-31 13F CLEVELAND CLIFFS COM 185899101 2,605,649 274,947 18,787
2017-11-14 2017-09-30 13F CLEVELAND CLIFFS COM 185899101 2,330,702 720,370 44.73 16,665 49.54 0.0050
2017-08-11 2017-06-30 13F CLIFFS NAT RES COM 18683K101 1,610,332 -941,921 -36.91 11,144 -46.82 0.0034
2017-05-22 2017-03-31 13F/A-1 CLIFFS NAT RES COM 18683K101 2,552,253 868,358 51.57 20,954 47.98 0.0064
2017-05-12 2017-03-31 13F CLIFFS NAT RES COM 18683K101 2,552,253 20,954
2017-02-22 2016-12-31 13F/A-1 CLIFFS NAT RES COM 18683K101 1,683,895 521,090 44.81 14,160 108.11 0.0046
2017-02-13 2016-12-31 13F CLIFFS NAT RES COM 18683K101 1,683,895 14,160
2016-11-10 2016-09-30 13F CLIFFS NAT RES COM 18683K101 1,162,805 368,236 46.34 6,804 51.03 0.0023
2016-08-12 2016-06-30 13F CLIFFS NAT RES COM 18683K101 794,569 222,726 38.95 4,505 162.68 0.0016
2016-05-12 2016-03-31 13F CLIFFS NAT RES COM 18683K101 571,843 109,332 23.64 1,715 134.93 0.0007
2016-02-09 2015-12-31 13F CLIFFS NAT RES COM 18683K101 462,511 191,377 70.58 730 10.11 0.0003
2016-02-08 2015-09-30 13F/A-1 CLIFFS NAT RES COM 18683K101 271,134 -401,895 -59.71 663 -77.24 0.0002
2015-11-09 2015-09-30 13F CLIFFS NAT RES COM 18683K101 271,134 663
2015-08-12 2015-06-30 13F CLIFFS NAT RES COM 18683K101 673,029 -882,264 -56.73 2,913 -61.06 0.0010
2015-05-14 2015-03-31 13F CLIFFS NAT RES COM 18683K101 1,555,293 -1,437,077 -48.02 7,480 -64.99 0.0028
2015-02-13 2014-12-31 13F CLIFFS NAT RES COM 18683K101 2,992,370 2,178,752 267.79 21,366 153.00 0.0078
2014-12-16 2014-09-30 13F/A-1 CLIFFS NAT RES COM 18683K101 813,618 58,361 7.73 8,445 -25.70 0.0032
2014-11-14 2014-09-30 13F CLIFFS NAT RES COM 18683K101 813,618 8,445
2014-08-12 2014-06-30 13F CLIFFS NAT RES COM 18683K101 755,257 -848,640 -52.91 11,366 -65.36 0.0194
2014-05-13 2014-03-31 13F CLIFFS NAT RES COM 18683K101 1,603,897 581,755 56.92 32,815 22.49 0.0137
2014-02-13 2013-12-31 13F CLIFFS NAT RES COM 18683K101 1,022,142 79,553 8.44 26,791 38.63 0.0114
2013-11-13 2013-09-30 13F CLIFFS NATURAL RESOURC COM 18683K101 942,589 -5,824 -0.61 19,325 25.40 0.0091
2013-08-08 2013-06-30 13F CLIFFS NATURAL RESOURC COM 18683K101 948,413 948,413 15,411 0.0078
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.