How many subsidiaries does CLEVELAND-CLIFFS INC. file with the SEC?

52, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Delaware, Ohio, Michigan. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is CLEVELAND-CLIFFS INC. financially healthy?

CLEVELAND-CLIFFS INC. scores 2 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of CLEVELAND-CLIFFS INC.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

CLEVELAND-CLIFFS INC. (CLF)

NYSE · Common Stock · Metal Mining

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

52 entities across 5 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-09 — see the exhibit.

Which other public companies file entities in the same places:

Delaware35 Michigan9 Ohio6 West Virginia1 Canada1

Subsidiaries of CLEVELAND-CLIFFS INC. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Cannon Automotive Solutions - Bowling Green, Inc.	Delaware
Cleveland-Cliffs Burns Harbor LLC	Delaware
Cleveland-Cliffs Cleveland Works LLC	Delaware
Cleveland-Cliffs Columbus LLC	Delaware
Cleveland-Cliffs FPT Services Company	Ohio
Cleveland-Cliffs Investments Inc.	Ohio
Cleveland-Cliffs Minorca Mine Inc.	Delaware
Cleveland-Cliffs Monessen Coke LLC	Delaware
Cleveland-Cliffs New Carlisle LLC	Delaware
Cleveland-Cliffs Plate LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

2 / 8

FAILReturn on assets positiveROA -7.4%
FAILOperating cash flow positiveOCF -462M
FAILReturn on assets improving-3.6% → -7.4%
PASSCash flow exceeds earningsOCF -462M vs NI -1.5B
FAILLong-term debt ratio falling33.7% → 36.2% of assets
FAILCurrent ratio improving2.08 → 1.95
FAILNo share dilution480M → 508M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.92× → 0.93×

Altman Z-score

1.15distress

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$5.4B	−$122.0M	−$786.0M	—	379,000,000
FY2021	$20.4B	$3.0B	$2.1B	—	558,000,000
FY2022	$23.0B	$1.3B	$1.5B	—	524,000,000
FY2023	$22.0B	$399.0M	$1.6B	—	511,000,000
FY2024	$19.2B	−$754.0M	−$590.0M	—	480,000,000
FY2025

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of CLEVELAND-CLIFFS INC. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	10,544,562	+79,320	$99.0M

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0000764065
LEI: 549300TM2WLI2BJMDD86
FIGI: BBG000BFRF55
SIC: 1000 · Metal Mining
Incorporated: OH
Headquarters: CLEVELAND, OH

Ownership

Institutional: 84.4%
Institutions: 729
Insiders: 0.9%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other metal mining companies

CLEVELAND-CLIFFS INC. files under SIC 1000 — all 4 metal mining companies compared on assets and F-score.

FREEPORT-MCMORAN INCFCX USA Rare Earth, Inc.USAR Ivanhoe Electric Inc.IE

Questions about CLEVELAND-CLIFFS INC.

How many subsidiaries does CLEVELAND-CLIFFS INC. file with the SEC?: 52, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Delaware, Ohio, Michigan. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is CLEVELAND-CLIFFS INC. financially healthy?: CLEVELAND-CLIFFS INC. scores 2 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of CLEVELAND-CLIFFS INC.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.