Masters Capital Management’s Cleveland-Cliffs CLF Stock Holding History

Masters Capital Management’s Portfolio CLF Stock Details CLF Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$28.2M	Buy	3,000,000 +1,000,000	+50%	+$11M	0.72%	32
2026 Q1	$16.9M	Buy	2,000,000 +1,000,000	+100%	+$11.4M	0.56%	47
2025 Q4	$13.3M	Buy	+1,000,000	New	+$12.6M	0.54%	52
2025 Q3	–	Sell	-1,000,000	Closed	-$7.6M	–	82
2025 Q2	$7.6M	Sell	1,000,000 -2,000,000	-67%	-$14.9M	0.3%	55
2025 Q1	$24.7M	Hold	3,000,000	–	–	1.21%	24
2024 Q4	$28.2M	Sell	3,000,000 -1,000,000	-25%	-$12.1M	1.04%	28
2024 Q3	$51.1M	Buy	4,000,000 +2,000,000	+100%	+$27.2M	2.49%	6
2024 Q2	$30.8M	Buy	2,000,000 +1,000,000	+100%	+$17.9M	1.73%	18
2024 Q1	$22.7M	Hold	1,000,000	–	–	0.82%	32
2023 Q4	$20.4M	Buy	+1,000,000	New	+$17.1M	0.84%	29
2023 Q3	–	Sell	-1,000,000	Closed	-$16.8M	–	62
2023 Q2	$16.8M	Sell	1,000,000 -1,000,000	-50%	-$15.9M	0.67%	36
2023 Q1	$36.7M	Buy	+2,000,000	New	+$39.6M	1.86%	18
2022 Q3	–	Sell	-2,000,000	Closed	-$30.7M	–	46
2022 Q2	$30.7M	Buy	2,000,000 +1,500,000	+300%	+$35.9M	1.44%	20
2022 Q1	$16.1M	Sell	500,000 -1,500,000	-75%	-$34.2M	0.65%	40
2021 Q4	$43.5M	Buy	2,000,000 +1,000,000	+100%	+$21.5M	1.77%	18
2021 Q3	$19.8M	Hold	1,000,000	–	–	0.82%	39
2021 Q2	$21.6M	Sell	1,000,000 -1,000,000	-50%	-$19.7M	0.64%	35
2021 Q1	$40.2M	Sell	2,000,000 -1,000,000	-33%	-$16.3M	1.34%	17
2020 Q4	$43.7M	Hold	3,000,000	–	–	2.56%	10
2020 Q3	$19.3M	Buy	3,000,000 +2,000,000	+200%	+$12M	1.28%	27
2020 Q2	$5.52M	Buy	+1,000,000	New	+$4.86M	0.62%	38
2020 Q1	–	Sell	-1,906,000	Closed	-$16M	–	57
2019 Q4	$16M	Buy	1,906,000 +6,000	+0.3%	+$46.1K	0.91%	27
2019 Q3	$13.6M	Buy	+1,900,000	New	+$17.1M	0.81%	37
2019 Q1	–	Sell	-1,000,000	Closed	-$7.69M	–	61
2018 Q4	$7.69M	Buy	+1,000,000	New	+$10M	0.42%	48
2018 Q2	–	Sell	-1,000,000	Closed	-$6.95M	–	70
2018 Q1	$6.95M	Buy	+1,000,000	New	+$7.5M	0.15%	63
2017 Q4	–	Sell	-1,000,000	Closed	-$7.15M	–	64
2017 Q3	$7.15M	Hold	1,000,000	–	–	0.17%	62
2017 Q2	$6.92M	Sell	1,000,000 -1,000,000	-50%	-$6.62M	0.17%	60
2017 Q1	$16.4M	Buy	2,000,000 +47,000	+2%	+$447K	0.41%	45
2016 Q4	$16.4M	Buy	1,953,000 +953,000	+95%	+$7.18M	0.36%	49
2016 Q3	$5.85M	Buy	+1,000,000	New	+$6.53M	0.12%	59
2016 Q2	–	Sell	-1,000,000	Closed	-$3M	–	58
2016 Q1	$3M	Buy	+1,000,000	New	+$2.09M	0.06%	63
2015 Q3	–	Sell	-1,000,000	Closed	-$4.33M	–	50
2015 Q2	$4.33M	Buy	+1,000,000	New	+$5.32M	0.14%	53

Other funds holding CLF

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

SPC

Slate Path Capital New York $7.22B AUM 110.75% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM

D.E. Shaw & Co New York $210B AUM 57.28% 1-Year Est. Return

Two Sigma Investments New York $138B AUM 41.87% 1-Year Est. Return

FFH

Fairfax Financial Holdings Toronto, Ontario, Canada $2.64B AUM 24.46% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

Masters Capital Management's CLF Position: Q2 2026 in Review

Masters Capital Management sold out of Cleveland-Cliffs (CLF) in Q2 2026, closing a stake of 1,200,000 shares — an estimated $13.2M sold.

Masters Capital Management first reported a position in CLF in Q3 2016 and held it in 35 quarters. The position peaked at $45.1M in Q1 2024. 581 funds tracked by Wall St. Rank hold CLF as of Q2 2026.

Masters Capital Management reported no remaining Cleveland-Cliffs position as of Q2 2026 after selling out during the quarter.
Masters Capital Management sold 1,200,000 Cleveland-Cliffs shares in Q2 2026, an estimated $13.2M.
Masters Capital Management first reported a position in Cleveland-Cliffs in Q3 2016 and held it in 35 quarters.
Masters Capital Management's Cleveland-Cliffs position peaked at $45.1M in Q1 2024.
581 funds tracked by Wall St. Rank held Cleveland-Cliffs as of Q2 2026.

Based on Masters Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.