Vale S.A. - Depositary Receipt (Common Stock)
US ˙ NYSE ˙ US91912E1055

SecurityVALE / Vale S.A. - Depositary Receipt (Common Stock)
InstitutionCoreCommodity Management, LLC
Latest Disclosed Ownership21,028 shares
Latest Disclosed Value $ 334,555
CoreCommodity Management, LLC reports 8.19% decrease in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock)

On May 15, 2026 - CoreCommodity Management, LLC filed a 13F-HR form disclosing ownership of 21,028 shares of Vale S.A. - Depositary Receipt (Common Stock) (US:VALE) valued at $334,555 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 22,903 shares of Vale S.A. - Depositary Receipt (Common Stock). This represents a change in shares of -8.19% during the quarter. The current value of the position is $337,710 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F VALE SA-SP ADR SPONSORED ADS 91912E105 21,028 -1,875 -8.19 335 12.08 0.0619
2026-02-12 2025-12-31 13F VALE S A SPONSORED ADS 91912E105 22,903 0 0.00 298 20.16 0.0626
2025-11-14 2025-09-30 13F VALE S A SPONSORED ADS 91912E105 22,903 0 0.00 249 11.71 0.0451
2025-08-14 2025-06-30 13F VALE S A SPONSORED ADS 91912E105 22,903 6,423 38.97 222 35.37 0.0366
2025-05-15 2025-03-31 13F VALE S A SPONSORED ADS 91912E105 16,480 -4,865 -22.79 164 -13.23 0.0267
2025-02-14 2024-12-31 13F VALE S A SPONSORED ADS 91912E105 21,345 8,811 70.30 189 29.45 0.0370
2024-11-14 2024-09-30 13F VALE S A SPONSORED ADS 91912E105 12,534 -58,492 -82.35 146 -81.59 0.0270
2024-08-14 2024-06-30 13F VALE S A SPONSORED ADS 91912E105 71,026 -49,160 -40.90 793 -45.87 0.3073
2024-05-15 2024-03-31 13F VALE S A SPONSORED ADS 91912E105 120,186 29,533 32.58 1,465 1.95 0.5219
2024-02-14 2023-12-31 13F VALE S A SPONSORED ADS 91912E105 90,653 0 0.00 1,438 18.37 0.4272
2023-11-14 2023-09-30 13F VALE S A SPONSORED ADS 91912E105 90,653 -8,219 -8.31 1,215 -8.45 0.4071
2023-08-14 2023-06-30 13F VALE S A SPONSORED ADS 91912E105 98,872 22,570 29.58 1,327 10.13 0.3903
2023-05-15 2023-03-31 13F VALE S A SPONSORED ADS 91912E105 76,302 -65,724 -46.28 1,204 -50.04 0.3441
2023-02-14 2022-12-31 13F VALE S A SPONSORED ADS 91912E105 142,026 -98,529 -40.96 2,410 -24.78 0.7434
2022-11-14 2022-09-30 13F VALE S A SPONSORED ADS 91912E105 240,555 20,095 9.12 3,204 -0.65 1.1676
2022-08-15 2022-06-30 13F VALE S A SPONSORED ADS 91912E105 220,460 -70,595 -24.25 3,225 -44.57 0.8461
2022-05-16 2022-03-31 13F VALE S A SPONSORED ADS 91912E105 291,055 80,405 38.17 5,818 97.02 1.2779
2022-02-14 2021-12-31 13F VALE S A SPONSORED ADS 91912E105 210,650 -40,735 -16.20 2,953 -15.80 0.8126
2021-11-15 2021-09-30 13F VALE S A SPONSORED ADS 91912E105 251,385 -17,601 -6.54 3,507 -42.85 0.9848
2021-08-16 2021-06-30 13F VALE S A SPONSORED ADS 91912E105 268,986 -53,717 -16.65 6,136 9.40 1.9026
2021-05-17 2021-03-31 13F VALE S A SPONSORED ADS 91912E105 322,703 -47,637 -12.86 5,609 -9.63 2.3510
2021-02-16 2020-12-31 13F VALE S A SPONSORED ADS 91912E105 370,340 112,263 43.50 6,207 127.36 3.1482
2020-11-16 2020-09-30 13F VALE S A SPONSORED ADS 91912E105 258,077 116,596 82.41 2,730 87.11 2.2331
2020-08-12 2020-06-30 13F VALE S A SPONSORED ADS 91912E105 141,481 141,481 1,459 1.3676
2020-05-13 2020-03-31 13F VALE S A SPONSORED ADS 91912E105 0 -10,957 -100.00 0 -100.00
2020-02-04 2019-12-31 13F VALE S A SPONSORED ADS 91912E105 10,957 0 0.00 145 15.08 0.0809
2019-11-14 2019-09-30 13F VALE S A SPONSORED ADS 91912E105 10,957 -14,447 -56.87 126 -63.05 0.0791
2019-08-14 2019-06-30 13F VALE S A SPONSORED ADS 91912E105 25,404 -6,369 -20.05 341 -17.83 0.1890
2019-05-15 2019-03-31 13F VALE S A SPONSORED ADS 91912E105 31,773 5,046 18.88 415 17.56 0.2357
2019-02-14 2018-12-31 13F VALE S A ADR 91912E105 26,727 -139,479 -83.92 353 -85.69 0.2965
2018-11-14 2018-09-30 13F VALE S A ADR 91912E105 166,206 39,299 30.97 2,466 51.57 1.2319
2018-08-13 2018-06-30 13F VALE S A ADR 91912E105 126,907 49,833 64.66 1,627 66.02 1.0918
2018-05-15 2018-03-31 13F VALE S A ADR 91912E105 77,074 9,719 14.43 980 18.93 0.7400
2018-02-14 2017-12-31 13F VALE S A ADR 91912E105 67,355 13,349 24.72 824 51.47 0.6827
2017-11-14 2017-09-30 13F VALE S A ADR 91912E105 54,006 2,081 4.01 544 19.82 0.5147
2017-08-14 2017-06-30 13F VALE S A ADR 91912E105 51,925 -3,364 -6.08 454 -13.52 0.4364
2017-05-15 2017-03-31 13F VALE S A ADR 91912E105 55,289 6,227 12.69 525 40.37 0.4257
2017-02-14 2016-12-31 13F VALE ADR 91912E105 49,062 812 1.68 374 41.13 0.3288
2016-11-14 2016-09-30 13F VALE SPONS ADR 91912E105 48,250 -775 -1.58 265 6.85 0.2706
2016-08-15 2016-06-30 13F/A-1 VALE ADR 91912E105 49,025 0 0.00 248 20.39 0.2443
2016-05-16 2016-03-31 13F VALE SPON ADR 91912E105 49,025 0 0.00 206 27.95 0.2132
2016-02-16 2015-12-31 13F VALE SPONS ADR 91912E105 49,025 6,046 14.07 161 -11.05 0.1508
2015-11-16 2015-09-30 13F VALE SPONS ADR 91912E105 42,979 -39,955 -48.18 181 -62.91 0.1666
2015-08-14 2015-06-30 13F VALE SPONS ADR 91912E105 82,934 -171,748 -67.44 488 -66.09 0.4009
2015-05-15 2015-03-31 13F VALE ADR 91912E105 254,682 9,778 3.99 1,439 -28.16 0.9075
2015-02-17 2014-12-31 13F VALE SPONS ADR 91912E105 244,904 84,447 52.63 2,003 13.36 1.5000
2014-11-14 2014-09-30 13F VALE SPONS ADR 91912E105 160,457 30,656 23.62 1,767 2.91 0.9181
2014-08-14 2014-06-30 13F VALE ADR 91912E105 129,801 58,664 82.47 1,717 58.25 0.8185
2014-02-14 2013-12-31 13F VALE SPON ADR 91912E105 71,137 12,135 20.57 1,085 17.81 0.5506
2013-11-13 2013-09-30 13F VALE SPON ADR 91912E105 59,002 59,002 921 0.7958
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.