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

SecurityVALE / Vale S.A. - Depositary Receipt (Common Stock)
InstitutionWetherby Asset Management Inc
Latest Disclosed Ownership39,664 shares
Latest Disclosed Value $ 430,752
Wetherby Asset Management Inc reports 3.05% decrease in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock)

On November 14, 2025 - Wetherby Asset Management Inc filed a 13F-HR form disclosing ownership of 39,664 shares of Vale S.A. - Depositary Receipt (Common Stock) (US:VALE) valued at $430,751 USD as of September 30, 2025. The entity filed a previous 13F-HR on August 14, 2025 disclosing 40,911 shares of Vale S.A. - Depositary Receipt (Common Stock). This represents a change in shares of -3.05% during the quarter. The current value of the position is $604,083 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)
2025-11-14 2025-09-30 13F VALE S A SPONSORED ADS 91912E105 39,664 -1,247 -3.05 431 8.31 0.0176
2025-08-14 2025-06-30 13F VALE S A SPONSORED ADS 91912E105 40,911 -12,211 -22.99 397 -15.71 0.0177
2025-02-14 2024-12-31 13F VALE S A SPONSORED ADS 91912E105 53,122 6,281 13.41 471 -13.89 0.0226
2024-11-14 2024-09-30 13F VALE S A SPONSORED ADS 91912E105 46,841 376 0.81 547 5.39 0.0250
2024-08-14 2024-06-30 13F VALE S A SPONSORED ADS 91912E105 46,465 -10,718 -18.74 519 -25.54 0.0245
2024-05-15 2024-03-31 13F VALE S A SPONSORED ADS 91912E105 57,183 -6,794 -10.62 697 -31.26 0.0332
2024-02-14 2023-12-31 13F VALE S A SPONSORED ADS 91912E105 63,977 -2,260 -3.41 1,015 14.32 0.0529
2023-11-14 2023-09-30 13F VALE S A SPONSORED ADS 91912E105 66,237 1,357 2.09 888 1.95 0.0503
2023-08-14 2023-06-30 13F VALE S A SPONSORED ADS 91912E105 64,880 -7,732 -10.65 871 -24.02 0.0469
2023-05-12 2023-03-31 13F VALE S A SPONSORED ADS 91912E105 72,612 -1,806 -2.43 1,146 -9.27 0.0671
2023-02-14 2022-12-31 13F VALE S A SPONSORED ADS 91912E105 74,418 4,538 6.49 1,263 35.55 0.0811
2022-11-14 2022-09-30 13F VALE S A SPONSORED ADS 91912E105 69,880 -3,261 -4.46 931 -12.99 0.0656
2022-08-15 2022-06-30 13F VALE S A SPONSORED ADS 91912E105 73,141 16,321 28.72 1,070 -5.81 0.0730
2022-05-16 2022-03-31 13F VALE S A SPONSORED ADS 91912E105 56,820 8,764 18.24 1,136 68.55 0.0651
2022-02-14 2021-12-31 13F VALE S A SPONSORED ADS 91912E105 48,056 929 1.97 674 2.59 0.0378
2021-11-15 2021-09-30 13F VALE S A SPONSORED ADS 91912E105 47,127 -251 -0.53 657 -39.22 0.0405
2021-08-16 2021-06-30 13F VALE S A SPONSORED ADS 91912E105 47,378 2,905 6.53 1,081 39.84 0.0660
2021-05-14 2021-03-31 13F VALE S A SPONSORED ADS 91912E105 44,473 -648 -1.44 773 2.25 0.0589
2021-02-11 2020-12-31 13F VALE S A SPONSORED ADS 91912E105 45,121 43,128 2,163.97 756 3,500.00 0.0513
2020-12-16 2020-09-30 13F/A-01 VALE S A SPONSORED ADS 91912E105 40,145 -1,161 425 0.0390
2020-12-16 2020-09-30 13F/A-02 VALE S A SPONSORED ADS 91912E105 1,993 -39,313 -95.18 21 -95.07 0.0631
2020-11-13 2020-09-30 13F VALE S A SPONSORED ADS 91912E105 42,811 1,505 453 28,814.7776
2020-08-14 2020-06-30 13F VALE S A SPONSORED ADS 91912E105 41,306 1,569 3.95 426 29.48 0.0404
2020-05-06 2020-03-31 13F VALE S A SPONSORED ADS 91912E105 39,737 5,011 14.43 329 -28.32 0.0369
2020-01-28 2019-12-31 13F VALE S A SPONSORED ADS 91912E105 34,726 -3,740 -9.72 459 3.61 0.0452
2019-10-31 2019-09-30 13F VALE S A SPONSORED ADS 91912E105 38,466 1,068 2.86 443 -11.75 0.0463
2019-07-25 2019-06-30 13F VALE S A SPONSORED ADS 91912E105 37,398 2,713 7.82 502 10.82 0.0550
2019-07-25 2019-03-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 34,685 -1,332 -3.70 453 -4.63 0.0564
2019-05-09 2019-03-31 13F VALE S A SPONSORED ADS 91912E105 34,685 -1,332 453
2019-01-30 2018-12-31 13F VALE S A ADR 91912E105 36,017 339 0.95 475 -10.21 0.0672
2018-11-07 2018-09-30 13F VALE S A ADR 91912E105 35,678 4,047 12.79 529 30.62 0.0653
2018-07-24 2018-06-30 13F VALE S A ADR 91912E105 31,631 -94 -0.30 405 0.50 0.0548
2018-05-04 2018-03-31 13F VALE S A ADR 91912E105 31,725 1,159 3.79 403 7.75 0.0556
2018-02-09 2017-12-31 13F VALE S A ADR 91912E105 30,566 920 3.10 374 25.08 0.0519
2017-11-13 2017-09-30 13F VALE S A ADR 91912E105 29,646 852 2.96 299 18.65 0.0445
2017-08-01 2017-06-30 13F VALE S A ADR 91912E105 28,794 -958 -3.22 252 -10.95 0.0429
2017-04-27 2017-03-31 13F VALE S A ADR 91912E105 29,752 1,757 6.28 283 32.86 0.0509
2017-02-08 2016-12-31 13F VALE S A ADR 91912E105 27,995 2,753 10.91 213 54.35 0.0417
2016-11-14 2016-09-30 13F VALE S A ADR 91912E105 25,242 1,490 6.27 138 15.00 0.0279
2016-08-10 2016-06-30 13F VALE S A ADR 91912E105 23,752 2,047 9.43 120 30.43 0.0266
2016-05-10 2016-03-31 13F VALE S A ADR 91912E105 21,705 5,223 31.69 92 70.37 0.0217
2016-02-08 2015-12-31 13F VALE S A ADR 91912E105 16,482 -6,240 -27.46 54 -43.16 0.0129
2015-11-12 2015-09-30 13F VALE S A ADR 91912E105 22,722 -2,462 -9.78 95 -35.81 0.0243
2015-08-12 2015-06-30 13F VALE S A ADR 91912E105 25,184 -893 -3.42 148 0.68 0.0356
2015-05-08 2015-03-31 13F VALE S A ADR 91912E105 26,077 9,457 56.90 147 8.09 0.0358
2015-02-12 2014-12-31 13F VALE S A ADR 91912E105 16,620 16,620 136 0.0342
2014-11-03 2014-09-30 13F VALE S A ADR 91912E105 0 -11,240 -100.00 0 -100.00
2014-08-01 2014-06-30 13F VALE S A ADR 91912E105 11,240 -315 -2.73 149 -6.87 0.0421
2014-05-05 2014-03-31 13F/A-1 VALE S A ADR 91912E105 11,555 -4,845 -29.54 160 -36.00 0.0459
2014-04-30 2014-03-31 13F VALE S A ADR 91912E105 11,555 160
2014-01-29 2013-12-31 13F VALE S A ADR 91912E105 16,400 -1,225 -6.95 250 -9.09 0.0713
2013-10-29 2013-09-30 13F VALE S A ADR 91912E105 17,625 17,625 275 0.0858
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.