Cleveland-Cliffs Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:CVA Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
13 Feb 26	Buy€168,205	Edilson Camara	Individual	19,700	€8.54
11 Feb 26	Sell€31,400,452	C. Goncalves	Individual	3,000,000	€10.47
23 May 25	Sell€725,282	James Graham	Individual	120,000	€6.04
10 Mar 25	Buy€32,110	John Baldwin	Individual	4,000	€8.03
28 Feb 25	Buy€101,498	Jane Cronin	Individual	10,000	€10.15
28 Feb 25	Buy€98,746	Keith Koci	Individual	9,500	€10.39

Insider Trading Volume

Insider Buying: CVA insiders have sold more shares than they have bought in the past 3 months.

Ownership Breakdown

What is the ownership structure of CVA?
Owner Type	Number of Shares	Ownership Percentage
State or Government	368,248	0.0646%
Individual Insiders	5,878,640	1.03%
General Public	141,255,348	24.8%
Institutions	422,888,263	74.1%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.5%.

Top Shareholders

Top 25 shareholders own 52.2% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.54%	The Vanguard Group, Inc.	54,391,397	€476.5m	13.5%	0.01%
9.33%	BlackRock, Inc.	53,199,473	€466.0m	11.4%	0.01%
5.13%	State Street Global Advisors, Inc.	29,278,156	€256.5m	14.2%	0.01%
3.46%	Slate Path Capital LP	19,753,245	€173.0m	0%	2.36%
2.61%	Hamblin Watsa Investment Counsel Ltd.	14,899,273	€130.5m	0%	3.73%
2.55%	Dimensional Fund Advisors LP	14,564,176	€127.6m	-15.4%	0.02%
1.76%	Geode Capital Management, LLC	10,039,851	€87.9m	14.7%	0.01%
1.59%	Jane Street Group, LLC	9,072,042	€79.5m	672%	0.11%
1.4%	Balyasny Asset Management L.P.	7,994,441	€70.0m	0%	0.17%
1.36%	Citigroup Inc.	7,766,514	€68.0m	-3.05%	0.05%
1.34%	Charles Schwab Investment Management, Inc.	7,663,526	€67.1m	14.3%	0.01%
1.27%	Turiya Advisors Asia Ltd	7,250,000	€63.5m	0%	11.77%
1.19%	UBS Asset Management AG	6,767,034	€59.3m	11.8%	0.01%
1.14%	Maple Rock Capital Partners Inc.	6,502,400	€57.0m	0%	1.9%
1.11%	BNP Paribas Financial Markets SNC	6,309,887	€55.3m	13.9%	0.04%
0.95%	Morgan Stanley	5,416,862	€47.5m	22.1%	0.01%
0.89%	Bank of America Corporation	5,090,799	€44.6m	0%	0.01%
0.84%	Citadel Advisors LLC	4,817,437	€42.2m	0%	0.04%
0.82%	Voloridge Investment Management, LLC	4,683,251	€41.0m	0%	0.16%
0.8%	Neuberger Berman Investment Advisers LLC	4,581,942	€40.1m	-2.54%	0.03%
0.71%	Northern Trust Global Investments	4,037,963	€35.4m	0%	0.01%
0.66%	Norges Bank Investment Management	3,749,785	€32.8m	-35.4%	no data
0.6%	JP Morgan Asset Management	3,437,206	€30.1m	7.73%	no data
0.58%	Mirae Asset Global Investments Co., Ltd.	3,283,012	€28.8m	0%	0.02%
0.56%	BNY Asset Management	3,211,532	€28.1m	10.3%	0.01%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/02/17 20:13
End of Day Share Price	2026/02/17 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cleveland-Cliffs Inc. is covered by 32 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ignace Proot	Bernstein
Tony Robson	BMO Capital Markets Equity Research
Tristan Gresser	BNP Paribas