Cwm, Llc reports 254.70% increase in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock) - 13F, 13D, 13G Filings

Vale S.A. - Depositary Receipt (Common Stock)

US ˙ NYSE ˙ US91912E1055

Security	VALE / Vale S.A. - Depositary Receipt (Common Stock)
Institution	Cwm, Llc
Latest Disclosed Ownership	11,315 shares
Latest Disclosed Value	$ 180,021

Cwm, Llc reports 254.70% increase in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock)

On May 14, 2026 - Cwm, Llc filed a 13F-HR form disclosing ownership of 11,315 shares of Vale S.A. - Depositary Receipt (Common Stock) (US:VALE) valued at $180,022 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 3,190 shares of Vale S.A. - Depositary Receipt (Common Stock). The current value of the position is $181,719 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	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-14	2026-03-31	13F	VALE S A	SPONSORED ADS	91912E105	11,315	8,125	254.70	180		0.0005
2026-01-26	2025-12-31	13F	VALE S A	SPONSORED ADS	91912E105	3,190	-7	-0.22	0		0.0001
2025-10-15	2025-09-30	13F	VALE S A	SPONSORED ADS	91912E105	3,197	376	13.33	0		0.0001
2025-07-25	2025-06-30	13F	VALE S A	SPONSORED ADS	91912E105	2,821	-412	-12.74	0		0.0001
2025-05-01	2025-03-31	13F	VALE S A	SPONSORED ADS	91912E105	3,233	815	33.71	0		0.0001
2025-02-04	2024-12-31	13F	VALE S A	SPONSORED ADS	91912E105	2,418	-13,448	-84.76	0		0.0001
2024-10-08	2024-09-30	13F	VALE S A	SPONSORED ADS	91912E105	15,866	4,440	38.86	0		0.0008
2024-07-10	2024-06-30	13F	VALE S A	SPONSORED ADS	91912E105	11,426	-5,326	-31.79	0		0.0006
2024-04-05	2024-03-31	13F	VALE S A	SPONSORED ADS	91912E105	16,752	13,053	352.88	0		0.0010
2024-02-01	2023-12-31	13F	VALE S A	SPONSORED ADS	91912E105	3,699	-6	-0.16	0		0.0003
2023-10-11	2023-09-30	13F	VALE S A	SPONSORED ADS	91912E105	3,705	270	7.86	0		0.0003
2023-08-03	2023-06-30	13F	VALE S A	SPONSORED ADS	91912E105	3,435	-1,634	-32.24	0		0.0003
2023-05-01	2023-03-31	13F	VALE S A	SPONSORED ADS	91912E105	5,069	938	22.71	0		0.0005
2023-02-01	2022-12-31	13F	VALE S A	SPONSORED ADS	91912E105	4,131	1,710	70.63	0	-100.00	0.0005
2022-10-27	2022-09-30	13F	VALE S A	SPONSORED ADS	91912E105	2,421	670	38.26	32	23.08	0.0003
2022-07-28	2022-06-30	13F	VALE S A	SPONSORED ADS	91912E105	1,751	-13,811	-88.75	26	-91.64	0.0002
2022-04-21	2022-03-31	13F	VALE S A	SPONSORED ADS	91912E105	15,562	4,823	44.91	311	105.96	0.0022
2022-01-31	2021-12-31	13F	VALE S A	SPONSORED ADS	91912E105	10,739	-1,998	-15.69	151	-48.11	0.0011
2021-09-15	2021-06-30	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-07-29	2021-06-30	13F	VALE S A	SPONSORED ADS	91912E105	12,737	0		291		0.0023
2021-09-15	2021-03-31	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-04-27	2021-03-31	13F	VALE S A	SPONSORED ADS	91912E105	9,161	-3,576		159		0.0014
2021-09-15	2020-12-31	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-09-15	2020-09-30	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2020-10-19	2020-09-30	13F	VALE S A	SPONSORED ADS	91912E105	7,000	-5,737		74		0.0008
2021-09-15	2020-06-30	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-09-15	2020-03-31	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-09-14	2019-12-31	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-09-14	2019-09-30	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-09-14	2019-06-30	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	0	0.00	291	0.00	0.0023
2021-09-02	2019-03-31	13F/A-1	VALE S A	SPONSORED ADS	91912E105	12,737	12,395	3,624.27	291	5,720.00	0.0023
2019-04-22	2019-03-31	13F	VALE S A	SPONSORED ADS	91912E105	342	0		4		0.0001
2019-01-25	2018-12-31	13F	VALE S A	ADR	91912E105	342	0	0.00	5	0.00	0.0001
2018-10-29	2018-09-30	13F	VALE S A	ADR	91912E105	342	-65	-15.97	5	0.00	0.0001
2018-07-31	2018-06-30	13F	VALE S A	ADR	91912E105	407	72	21.49	5	25.00	0.0002
2018-04-26	2018-03-31	13F	VALE S A	ADR	91912E105	335	6	1.82	4	0.00	0.0002
2018-01-16	2017-12-31	13F	VALE S A	ADR	91912E105	329	0	0.00	4	33.33	0.0002
2017-10-16	2017-09-30	13F	VALE S A	ADR	91912E105	329	0	0.00	3	0.00	0.0001
2017-07-17	2017-06-30	13F	VALE S A	ADR	91912E105	329	0	0.00	3	0.00	0.0002
2017-04-17	2017-03-31	13F	VALE S A	ADR	91912E105	329	-1	-0.30	3	0.00	0.0002
2017-01-19	2016-12-31	13F	VALE S A	ADR	91912E105	330	2	0.61	3	50.00	0.0002
2016-10-17	2016-09-30	13F	VALE S A	ADR	91912E105	328	0	0.00	2	0.00	0.0001
2016-07-21	2016-06-30	13F	VALE S A	ADR	91912E105	328	0	0.00	2	100.00	0.0001
2016-04-18	2016-03-31	13F	VALE S A	ADR	91912E105	328	0	0.00	1	0.00	0.0001
2016-02-01	2015-12-31	13F	VALE S A	ADR	91912E105	328	7	2.18	1	0.00	0.0001
2015-10-30	2015-09-30	13F	VALE S A	ADR	91912E105	321	321		1		0.0001

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.