CLEVELAND-CLIFFS INC.
CLEVELAND-CLIFFS INC. (CLF) has a dated report snapshot, but its current priced-in claim is temporarily suppressed because the live engine record is unavailable or has changed.
- The number that decides Cleveland-Cliffs is the mid-cycle margin near 10%, not the current loss. At a normal point in the steel cycle the business earns money; trailing results show a loss because the cycle is near a trough. - The company is distressed on the standard screens: three distress signals (sustained losses, negative retained earnings, and an Altman distress reading) shut down most valuation methods, and net debt of about $8.1 billion runs roughly 4.3x normalized operating income. -
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547 institutional managers reported holding CLF in 13F filings for the quarter ended 2026-03-31. Together they hold about 82% of the company; the top 10 hold 46%. 76 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 77.1M shares were sold short as of the 2026-06-15 count, about 14% of shares outstanding (4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CLF's share count grew 14% over the past five years even with $1.13B spent on repurchases. It pays no dividend. Cash returned over the past three years: $791.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CLF over the trailing three years: 2024: 9 buys totaling $2.71M; 2025: 3 buys totaling $243k; 2026: 1 buy totaling $200k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CLF's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-02-15 | +2.4% | -17.5% |
| 2023-04-27 | -3.8% | +11.3% |
| 2023-07-27 | +9.9% | -10.0% |
| 2023-10-26 | +7.3% | +28.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CLF's latest 8-K filings: 2026-05-20 (items 5.07); 2026-04-20 (items 2.02, 9.01); 2026-02-23 (items 5.02); 2026-02-09 (items 2.02, 9.01); 2025-11-12 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.