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 Q1	$16.9M	Buy	2,000,000 +1,000,000	+100%	+$11.4M	2.5%	47
2025 Q4	$13.3M	Buy	+1,000,000	New	+$12.6M	1.84%	52
2025 Q3	–	Sell	-1,000,000	Closed	-$7.6M	–	89
2025 Q2	$7.6M	Sell	1,000,000 -2,000,000	-67%	-$14.9M	1.46%	55
2025 Q1	$24.7M	Hold	3,000,000	–	–	5.22%	24
2024 Q4	$28.2M	Sell	3,000,000 -1,000,000	-25%	-$12.1M	4.81%	28
2024 Q3	$51.1M	Buy	4,000,000 +2,000,000	+100%	+$27.2M	9.82%	6
2024 Q2	$30.8M	Buy	2,000,000 +1,000,000	+100%	+$17.9M	5.51%	18
2024 Q1	$22.7M	Hold	1,000,000	–	–	4.29%	32
2023 Q4	$20.4M	Buy	+1,000,000	New	+$17.1M	3.59%	29
2023 Q3	–	Sell	-1,000,000	Closed	-$16.8M	–	66
2023 Q2	$16.8M	Sell	1,000,000 -1,000,000	-50%	-$15.9M	3.4%	36
2023 Q1	$36.7M	Buy	+2,000,000	New	+$39.6M	8.76%	18
2022 Q3	–	Sell	-2,000,000	Closed	-$30.7M	–	49
2022 Q2	$30.7M	Buy	2,000,000 +1,500,000	+300%	+$35.9M	6.41%	20
2022 Q1	$16.1M	Sell	500,000 -1,500,000	-75%	-$34.2M	2.73%	40
2021 Q4	$43.5M	Buy	2,000,000 +1,000,000	+100%	+$21.5M	7.77%	18
2021 Q3	$19.8M	Hold	1,000,000	–	–	3.27%	39
2021 Q2	$21.6M	Sell	1,000,000 -1,000,000	-50%	-$19.7M	3.48%	35
2021 Q1	$40.2M	Sell	2,000,000 -1,000,000	-33%	-$16.3M	7.36%	17
2020 Q4	$43.7M	Hold	3,000,000	–	–	12.9%	10
2020 Q3	$19.3M	Buy	3,000,000 +2,000,000	+200%	+$12M	7.37%	27
2020 Q2	$5.52M	Buy	+1,000,000	New	+$4.86M	2.23%	38
2020 Q1	–	Sell	-1,906,000	Closed	-$16M	–	63
2019 Q4	$16M	Buy	1,906,000 +6,000	+0.3%	+$46.1K	5.38%	27
2019 Q3	$13.6M	Buy	+1,900,000	New	+$17.1M	4.74%	37
2019 Q1	–	Sell	-1,000,000	Closed	-$7.69M	–	63
2018 Q4	$7.69M	Buy	+1,000,000	New	+$10M	1.68%	48
2018 Q2	–	Sell	-1,000,000	Closed	-$6.95M	–	74
2018 Q1	$6.95M	Buy	+1,000,000	New	+$7.5M	1.42%	63
2017 Q4	–	Sell	-1,000,000	Closed	-$7.15M	–	70
2017 Q3	$7.15M	Hold	1,000,000	–	–	1.28%	62
2017 Q2	$6.92M	Sell	1,000,000 -1,000,000	-50%	-$6.62M	1.33%	60
2017 Q1	$16.4M	Buy	2,000,000 +47,000	+2%	+$447K	2.54%	45
2016 Q4	$16.4M	Buy	1,953,000 +953,000	+95%	+$7.18M	2.4%	49
2016 Q3	$5.85M	Buy	+1,000,000	New	+$6.53M	1.11%	59
2016 Q2	–	Sell	-1,000,000	Closed	-$3M	–	63
2016 Q1	$3M	Buy	+1,000,000	New	+$2.09M	0.51%	63
2015 Q3	–	Sell	-1,000,000	Closed	-$4.33M	–	52
2015 Q2	$4.33M	Buy	+1,000,000	New	+$5.32M	1.03%	53