CLEVELAND-CLIFFS INC NEW CLF
COM · Common Stock · CUSIP 185899101 · ISIN US1858991011
American steelmaking company
- SectorMaterials
- IndustryMetal Mining
- HeadquartersCleveland, OH
- Founded1846
- Websiteclevelandcliffs.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($15.6m this quarter). Holder counts are more reliable. Shares outstanding: 498.3m as of 2024-02-08, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $20.42. Options: 38 managers hold calls ($451.7m notional), 31 hold puts ($506.0m).
Trends to Q4 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 594 |
| Q4 2022 | 615 |
| Q1 2023 | 613 |
| Q2 2023 | 576 |
| Q3 2023 | 607 |
| Q4 2023 | 623 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 275 | 293 |
| Q1 2023 | 285 | 284 |
| Q2 2023 | 254 | 300 |
| Q3 2023 | 268 | 254 |
| Q4 2023 | 220 | 329 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $479.8m | $486.0m | 1.01 |
| Q2 2023 | $433.3m | $305.8m | 0.71 |
| Q3 2023 | $358.6m | $347.8m | 0.97 |
| Q4 2023 | $451.7m | $506.0m | 1.12 |
Biggest buyers
| MORGAN STANLEY | Added | +5.9m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +3.8m |
| TWO SIGMA INVESTMENTS, LP | Added | +3.4m |
| Castle Hook Partners LP | New | +3.0m |
| MARSHALL WACE, LLP | Added | +2.5m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +2.3m |
| PECONIC PARTNERS LLC | New | +2.1m |
| TWO SIGMA ADVISERS, LP | Added | +1.8m |
| TIG Advisors, LLC | Added | +1.8m |
| Pacer Advisors, Inc. | Added | +1.7m |
Biggest sellers
| CITADEL ADVISORS LLC | Reduced | -7.2m |
| Holocene Advisors, LP | Reduced | -3.3m |
| Squarepoint Ops LLC | Reduced | -2.7m |
| Balyasny Asset Management L.P. | Reduced | -1.8m |
| BlackRock Inc. | Reduced | -1.6m |
| Fisher Asset Management, LLC | Reduced | -1.2m |
| Rockefeller Capital Management L.P. | Reduced | -1.2m |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -943.0k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -928.7k |
| FMR LLC | Reduced | -918.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $77.6m3.8m shares |
| CITADEL ADVISORS LLC | Reduced | $77.0m3.8m shares |
| SIMPLEX TRADING, LLC | Added | $37.5m1.8m shares |
| Squarepoint Ops LLC | Reduced | $24.7m1.2m shares |
| UBS Group AG | Reduced | $23.4m1.1m shares |
| Walleye Trading LLC | Added | $21.0m1.0m shares |
| JANE STREET GROUP, LLC | Added | $20.5m1.0m shares |
| MASTERS CAPITAL MANAGEMENT LLC | New | $20.4m1.0m shares |
| IMC-Chicago, LLC | Added | $19.5m956.6k shares |
| D. E. Shaw & Co., Inc. | Reduced | $12.9m632.9k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $119.3m5.8m shares |
| CITADEL ADVISORS LLC | Reduced | $69.6m3.4m shares |
| Lombard Odier Asset Management (USA) Corp | Unchanged | $49.0m2.4m shares |
| Portman Square Capital LLP | Added | $36.3m1.8m shares |
| Squarepoint Ops LLC | Reduced | $32.6m1.6m shares |
| UBS Group AG | Added | $30.7m1.5m shares |
| D. E. Shaw & Co., Inc. | Reduced | $20.4m1.0m shares |
| Walleye Trading LLC | Added | $19.4m948.8k shares |
| Eisler Capital (UK) Ltd. | Added | $19.3m943.4k shares |
| Saba Capital Management, L.P. | Unchanged | $18.4m900.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 8.9% |
| STATE STREET CORP 13G · institution -1.1 pts · filed 2026-08-07 | 5.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2022 | 1 | $24.9k | 0 | — | — |
| Q2 2022 | 2 | $330.4k | 1 | $1.1m | — |
| Q3 2022 | 2 | $232.2k | 1 | $5.4k | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 2 | $1.1m | — |
| Q2 2023 | 5 | $1.9m | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
None reported in Q4 2023.
Holders, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 50.1m $1.0bn | Reduced -270.1k |
| BlackRock Inc. 0.03% of their portfolio | 48.5m $990.6m | Reduced -1.6m |
| STATE STREET CORP 0.02% of their portfolio | 22.1m $451.1m | Reduced -118.6k |
| MORGAN STANLEY 0.01% of their portfolio | 12.6m $257.9m | Added +5.9m |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 8.0m $163.4m | Added +201.4k |
| Pacer Advisors, Inc. 0.43% of their portfolio | 7.5m $152.6m | Added +1.7m |
| Slate Path Capital LP 3.16% of their portfolio | 7.0m $142.4m | Added +204.0k |
| Fisher Asset Management, LLC 0.07% of their portfolio | 6.5m $132.7m | Reduced -1.2m |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 6.2m $126.8m | Reduced -353.1k |
| NORGES BANK 0.02% of their portfolio | 5.8m $117.6m | Added +1.1m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.17% of their portfolio | 5.0m $101.9m | Reduced -481.7k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 4.9m $99.4m | Reduced -276.7k |
| MARSHALL WACE, LLP 0.17% of their portfolio | 4.5m $91.4m | Added +2.5m |
| NEUBERGER BERMAN GROUP LLC 0.07% of their portfolio | 4.1m $83.6m | Added +47.1k |
| Sound Shore Management Inc /CT/ 2.86% of their portfolio | 4.0m $82.4m | Added +334.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 4.0m $82.3m | Added +1.7m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 3.8m $78.4m | Reduced -152.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.08% of their portfolio | 3.8m $78.2m | New |
| TWO SIGMA INVESTMENTS, LP 0.18% of their portfolio | 3.7m $76.2m | Added +3.4m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 3.5m $72.3m | Added +194.9k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 3.1m $63.1m | Added +362.6k |
| Drexel Morgan & Co. 14.11% of their portfolio | 3.0m $61.1m | Reduced -4.8k |
| Castle Hook Partners LP 3.78% of their portfolio | 3.0m $60.5m | New |
| Hodges Capital Management Inc. 3.09% of their portfolio | 2.8m $56.9m | Added +1.6m |
| Mirae Asset Global Investments Co., Ltd. 0.11% of their portfolio | 2.7m $55.5m | Reduced -18.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 2.6m $53.3m | Added +2.3m |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.2m $45.7m | Added +478.1k |
| Douglas Lane & Associates, LLC 0.66% of their portfolio | 2.1m $42.9m | Added +359.8k |
| BARCLAYS PLC 0.02% of their portfolio | 2.1m $42.6m | Added +96.7k |
| PECONIC PARTNERS LLC 2.03% of their portfolio | 2.1m $42.4m | New |
| AQR CAPITAL MANAGEMENT LLC 0.08% of their portfolio | 2.1m $42.4m | Reduced -512.3k |
| MASTERS CAPITAL MANAGEMENT LLC 7.18% of their portfolio | 2.0m $40.8m | Added +10.0k |
| Invesco Ltd. 0.01% of their portfolio | 2.0m $40.2m | Added +174.4k |
| D. E. Shaw & Co., Inc. 0.06% of their portfolio | 1.9m $39.0m | Reduced -413.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 1.9m $37.8m | Reduced -23.2k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 1.8m $36.8m | Reduced -928.7k |
| TIG Advisors, LLC 5.51% of their portfolio | 1.8m $36.7m | Added +1.8m |
| TWO SIGMA ADVISERS, LP 0.09% of their portfolio | 1.8m $36.7m | Added +1.8m |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.15% of their portfolio | 1.7m $34.0m | Reduced -387.7k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 1.6m $34.1m | Added +587.1k |
| Swiss National Bank 0.02% of their portfolio | 1.6m $32.5m | Reduced -66.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 1.6m $32.4m | Added +1.2m |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 1.6m $32.1m | Reduced -194.0k |
| ARS Investment Partners, LLC 3.49% of their portfolio | 1.5m $31.5m | Reduced -15.8k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 1.5m $30.6m | Reduced -53.4k |
| TOWLE & CO 3.39% of their portfolio | 1.4m $29.3m | Reduced -178.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.4m $29.0m | Added +4.7k |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 1.4m $28.7m | Added +87.4k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.4m $28.1m | Reduced -8.8k |
| Ninety One UK Ltd 0.08% of their portfolio | 1.4m $27.9m | New |
| Legal & General Group Plc 0.01% of their portfolio | 1.4m $27.7m | Reduced -174.6k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.3m $25.5m | Reduced -41.9k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 1.2m $24.7m | Reduced -42.4k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 1.2m $24.3m | Reduced -219.3k |
| FMR LLC 0.00% of their portfolio | 1.2m $23.9m | Reduced -918.0k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 1.2m $23.6m | Reduced -182.8k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 1.1m $23.0m | Added +14.0k |
| BANK OF NOVA SCOTIA 0.04% of their portfolio | 1.1m $22.9m | New |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 1.0m $21.4m | Reduced -16.8k |
| Patient Capital Management, LLC 1.11% of their portfolio | 1.0m $21.0m | Reduced -254.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 948.9k $19.4m | Added +480.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 902.7k $18.4m | Reduced -225.2k |
| Holocene Advisors, LP 0.07% of their portfolio | 896.1k $18.3m | Reduced -3.3m |
| Terril Brothers, Inc. 6.43% of their portfolio | 888.4k $18.1m | Reduced -3.6k |
| California Public Employees Retirement System 0.01% of their portfolio | 888.0k $18.1m | Reduced -58.1k |
| Korea Investment CORP 0.05% of their portfolio | 870.1k $17.8m | Added +355.2k |
| Gallagher Fiduciary Advisors, LLC 0.55% of their portfolio | 785.0k $16.0m | Reduced -13.7k |
| Cubist Systematic Strategies, LLC 0.19% of their portfolio | 770.6k $15.7m | Reduced -146.1k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 760.9k $15.5m | Added +230.1k |
| Encompass Capital Advisors LLC 0.90% of their portfolio | 750.0k $15.3m | New |
| SFE Investment Counsel 3.87% of their portfolio | 727.6k $14.9m | Reduced -12.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 706.6k $14.4m | Reduced -31.9k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.06% of their portfolio | 681.9k $13.9m | Reduced -34.8k |
| UBS Group AG 0.01% of their portfolio | 681.6k $13.9m | Reduced -372.6k |
| Ensign Peak Advisors, Inc 0.03% of their portfolio | 674.8k $13.8m | Added +97.8k |
| Squarepoint Ops LLC 0.06% of their portfolio | 669.3k $13.7m | Reduced -2.7m |
| Allianz Asset Management GmbH 0.02% of their portfolio | 652.0k $13.3m | Reduced -20.1k |
| Retirement Systems of Alabama 0.05% of their portfolio | 632.3k $12.9m | Reduced -2.8k |
| Balyasny Asset Management L.P. 0.04% of their portfolio | 630.0k $12.9m | Reduced -1.8m |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 626.2k $12.8m | Added +72.2k |
| Gotham Asset Management, LLC 0.23% of their portfolio | 618.0k $12.6m | Reduced -96.4k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 615.3k $12.6m | Reduced -144.0k |
| Susquehanna Portfolio Strategies, LLC 0.22% of their portfolio | 600.8k $12.3m | First filing |
| COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio | 593.7k $12.1m | Reduced -29.5k |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 560.2k $11.4m | Reduced -142.0k |
| Sonora Investment Management Group, LLC 0.92% of their portfolio | 555.4k $11.3m | Reduced -11.0k |
| AVIVA PLC 0.04% of their portfolio | 534.0k $10.9m | Added +487.1k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.23% of their portfolio | 532.1k $10.9m | Reduced -151.9k |
| PLUSTICK MANAGEMENT LLC 9.22% of their portfolio | 530.0k $10.8m | Reduced -5.0k |
| LPL Financial LLC 0.01% of their portfolio | 513.9k $10.5m | Added +30.3k |
| CITIGROUP INC 0.01% of their portfolio | 512.3k $10.5m | Added +191.4k |
| KBC Group NV 0.04% of their portfolio | 507.9k $10.4m | Reduced -134.0k |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.18% of their portfolio | 500.0k $10.2m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 490.8k $10.0m | Added +19 |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 462.8k $9.4m | Reduced -1.1k |
| Private Advisor Group, LLC 0.07% of their portfolio | 456.2k $9.3m | Added +4.6k |
| Ninety One SA (Pty) Ltd 1.35% of their portfolio | 436.0k $8.9m | New |
| TEXAS PERMANENT SCHOOL FUND CORP 0.08% of their portfolio | 435.9k $8.9m | Added +4.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 424.8k $8.7m | Reduced -15.2k |
| Thrivent Financial for Lutherans 0.02% of their portfolio | 412.0k $8.4m | Reduced -209.0k |