Cleveland-Cliffs Inc.
US ˙ NYSE ˙ US1858991011

SecurityCLF / Cleveland-Cliffs Inc.
InstitutionEntropy Technologies, LP
Latest Disclosed Ownership255,147 shares
Latest Disclosed Value $ 2,155,992
Entropy Technologies, LP reports 439.83% increase in ownership of CLF / Cleveland-Cliffs Inc.

On May 14, 2026 - Entropy Technologies, LP filed a 13F-HR form disclosing ownership of 255,147 shares of Cleveland-Cliffs Inc. (US:CLF) valued at $2,155,992 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 47,264 shares of Cleveland-Cliffs Inc.. This represents a change in shares of 439.83% during the quarter. The current value of the position is $3,610,330 USD.

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)
2026-05-14 2026-03-31 13F CLEVELAND CLIFFS ORD COM 185899101 255,147 207,883 439.83 2,156 243.70 0.0994
2026-02-13 2025-12-31 13F CLEVELAND CLIFFS ORD COM 185899101 47,264 -16,273 -25.61 628 -19.10 0.0340
2025-11-13 2025-09-30 13F CLEVELAND CLIFFS ORD COM 185899101 63,537 63,537 775 0.0580
2025-08-12 2025-06-30 13F CLEVELAND CLIFFS ORD COM 185899101 0 -121,414 -100.00 0 -100.00
2025-05-12 2025-03-31 13F CLEVELAND CLIFFS ORD COM 185899101 121,414 -50,579 -29.41 998 -38.24 0.0972
2025-01-28 2024-12-31 13F CLEVELAND CLIFFS ORD COM 185899101 171,993 155,693 955.17 1,617 676.92 0.1665
2024-11-04 2024-09-30 13F CLEVELAND CLIFFS ORD COM 185899101 16,300 -106,788 -86.76 208 -89.02 0.0219
2024-08-12 2024-06-30 13F CLEVELAND-CLIFFS INC COM 185899101 123,088 49,038 66.22 1,894 12.54 0.2047
2024-05-08 2024-03-31 13F CLEVELAND-CLIFFS INC COM 185899101 74,050 74,050 1,684 0.1795
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.