Cleveland-Cliffs Inc.
MX ˙ BMV ˙ US1858991011
SecurityMX:CLF / Cleveland-Cliffs Inc.
InstitutionSlate Path Capital LP
Latest Disclosed Ownership19,243,981 shares
Latest Disclosed Value $ 162,611,639
Slate Path Capital LP reports 14.15% decrease in ownership of CLF / Cleveland-Cliffs Inc.

On May 15, 2026 - Slate Path Capital LP filed a 13F-HR form disclosing ownership of 19,243,981 shares of Cleveland-Cliffs Inc. (MX:CLF) valued at $162,611,639 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 22,416,281 shares of Cleveland-Cliffs Inc.. This represents a change in shares of -14.15% 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 INC COM 185899101 19,243,981 -3,172,300 -14.15 162,612 -45.38 2.4149
2026-02-17 2025-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 22,416,281 2,663,036 13.48 297,688 23.53 4.0150
2025-11-14 2025-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 19,753,245 4,036,800 25.69 240,990 101.76 3.7287
2025-08-14 2025-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 15,716,445 -6,248,555 -28.45 119,445 -33.85 2.0593
2025-05-15 2025-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 21,965,000 5,757,000 35.52 180,552 18.51 3.2609
2025-02-14 2024-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 16,208,000 4,239,000 35.42 152,355 -0.32 2.7543
2024-11-14 2024-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 11,969,000 3,623,000 43.41 152,844 19.00 2.3538
2024-08-14 2024-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 8,346,000 1,239,000 17.43 128,445 -20.52 2.4451
2024-05-15 2024-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 7,107,000 134,000 1.92 161,613 13.50 3.2035
2024-02-14 2023-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 6,973,000 204,000 3.01 142,389 34.58 3.1607
2023-11-14 2023-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 6,769,000 6,769,000 105,799 2.9491
2023-08-14 2023-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 0 -588,000 -100.00 0 -100.00
2023-05-15 2023-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 588,000 0 0.00 10,778 13.79 0.5062
2023-02-14 2022-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 588,000 -88,000 -13.02 9,473 4.02 0.5095
2022-11-14 2022-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 676,000 191,000 39.38 9,106 22.16 0.5923
2022-08-15 2022-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 485,000 0 0.00 7,454 -52.29 0.4656
2022-05-16 2022-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 485,000 0 0.00 15,622 47.96 0.8000
2022-02-14 2021-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 485,000 150,000 44.78 10,558 59.10 0.5532
2021-11-15 2021-09-30 13F CLEVELAND-CLIFFS INC COM 185899101 335,000 0 0.00 6,636 -8.13 0.3028
2021-08-16 2021-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 335,000 -65,000 -16.25 7,223 -10.21 0.4035
2021-05-17 2021-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 400,000 -100,000 -20.00 8,044 10.49 0.5217
2021-02-16 2020-12-31 13F CLEVELAND-CLIFFS INC COM 185899101 500,000 500,000 7,280 0.3940
2015-02-17 2014-12-31 13F CLIFFS NAT RES COM 18683K101 0 -855,000 -100.00 0 -100.00
2014-11-14 2014-09-30 13F CLIFFS NAT RES COM 18683K101 855,000 0 0.00 8,875 -31.03 0.3992
2014-08-14 2014-06-30 13F CLIFFS NAT RES COM 18683K101 855,000 855,000 12,868 0.3596
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.