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

SecurityVALE / Vale S.A. - Depositary Receipt (Common Stock)
InstitutionMacquarie Group Ltd
Latest Disclosed Ownership0 shares
Latest Disclosed Value $ 0
Macquarie Group Ltd closes position in VALE / Vale S.A. - Depositary Receipt (Common Stock)

On February 13, 2026 - Macquarie Group Ltd filed a 13F-HR form disclosing ownership of 0 shares of Vale S.A. - Depositary Receipt (Common Stock) (US:VALE) valued at $0 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 4,242,175 shares of Vale S.A. - Depositary Receipt (Common Stock). The current value of the position is $0 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)
2026-02-13 2025-12-31 13F VALE S A SPONSORED ADS 91912E105 0 -100.00 0
2025-11-13 2025-09-30 13F VALE S A SPONSORED ADS 91912E105 4,242,175 -269,799 -5.98 46,070 5.16 0.0538
2025-08-14 2025-06-30 13F VALE S A SPONSORED ADS 91912E105 4,511,974 2,303,367 104.29 43,811 98.76 0.0537
2025-08-14 2025-03-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 2,208,607 -380,418 -14.69 22,042 -4.02 0.0274
2025-05-15 2025-03-31 13F VALE S A SPONSORED ADS 91912E105 2,208,607 -380,418 22,042 0.0180
2025-02-14 2024-12-31 13F VALE S A SPONSORED ADS 91912E105 2,589,025 -330,910 -11.33 22,965 -32.66 0.0279
2024-11-14 2024-09-30 13F VALE S A SPONSORED ADS 91912E105 2,919,935 -2,219,561 -43.19 34,105 -40.59 0.0368
2024-08-09 2024-06-30 13F VALE S A SPONSORED ADS 91912E105 5,139,496 -1,744,789 -25.34 57,408 -31.59 0.0658
2024-05-14 2024-03-31 13F VALE S A SPONSORED ADS 91912E105 6,884,285 -29,900 -0.43 83,919 -23.47 0.0952
2024-02-14 2023-12-31 13F VALE S A SPONSORED ADS 91912E105 6,914,185 10,600 0.15 109,659 18.54 0.1267
2023-11-14 2023-09-30 13F VALE S A SPONSORED ADS 91912E105 6,903,585 87,647 1.29 92,508 1.13 0.1162
2023-10-27 2023-06-30 13F/A-2 VALE S A SPONSORED ADS 91912E105 6,815,938 74,491 1.10 91,470 -14.02 0.1046
2023-10-12 2023-06-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 6,815,938 74,491 91,470 0.0919
2023-08-14 2023-06-30 13F VALE S A SPONSORED ADS 91912E105 6,815,938 74,491 91,470 0.0928
2023-06-01 2023-03-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 6,741,447 -595,757 -8.12 106,380 -14.56 0.1264
2023-05-15 2023-03-31 13F VALE S A SPONSORED ADS 91912E105 6,741,447 -595,757 106,380 0.0977
2023-02-21 2022-12-31 13F VALE S A SPONSORED ADS 91912E105 7,337,204 245,881 3.47 124,512 31.82 0.1470
2022-11-14 2022-09-30 13F VALE S A SPONSORED ADS 91912E105 7,091,323 -441,524 -5.86 94,456 -14.29 0.1159
2022-08-17 2022-06-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 7,532,847 938,320 14.23 110,206 -16.40 0.1237
2022-08-15 2022-06-30 13F VALE S A SPONSORED ADS 91912E105 7,532,847 938,320 110,206 0.0395
2022-05-16 2022-03-31 13F VALE S A SPONSORED ADS 91912E105 6,594,527 2,865,403 76.84 131,825 152.14 0.1003
2022-02-11 2021-12-31 13F VALE SPONSORED ADS 91912E105 3,729,124 1,130,781 43.52 52,282 44.24 0.0436
2021-11-12 2021-09-30 13F VALE S A SPONSORED ADS 91912E105 2,598,343 -18,469 -0.71 36,247 -39.27 0.0309
2021-08-13 2021-06-30 13F VALE S A SPONSORED ADS 91912E105 2,616,812 -121,580 -4.44 59,689 25.42 0.0490
2021-05-14 2021-03-31 13F VALE S A SPONSORED ADS 91912E105 2,738,392 -128,074 -4.47 47,593 -0.93 0.0673
2021-02-16 2020-12-31 13F VALE S A SPONSORED ADS 91912E105 2,866,466 -172,380 -5.67 48,042 49.43 0.0702
2020-11-13 2020-09-30 13F VALE S A SPONSORED ADS 91912E105 3,038,846 -57,502 -1.86 32,151 0.71 0.0544
2020-08-11 2020-06-30 13F VALE S A SPONSORED ADS 91912E105 3,096,348 -247,037 -7.39 31,923 15.17 0.0550
2020-05-15 2020-03-31 13F VALE S A SPONSORED ADS 91912E105 3,343,385 -643,243 -16.14 27,717 -47.33 0.0569
2020-03-18 2019-12-31 13F/A-2 VALE S A SPONSORED ADS 91912E105 3,986,628 -1,059,304 -20.99 52,623 -9.31 0.0751
2020-02-28 2019-12-31 13F/A-1 VALE S A SPONSORED ADS 91912E105 3,986,628 0 52,623 0.0760
2020-02-14 2019-12-31 13F VALE S A SPONSORED ADS 91912E105 3,986,628 -1,059,304 52,623 66,037.4053
2019-11-14 2019-09-30 13F VALE S A SPONSORED ADS 91912E105 5,045,932 -332,495 -6.18 58,028 -19.72 0.0973
2019-11-06 2019-06-30 13F/A-2 VALE S A SPONSORED ADS 91912E105 5,378,427 91,453 1.73 72,286 4.69 0.1219
2019-09-24 2019-06-30 13F/A-1 VALE S A SPONSORED ADS 91912E105 5,378,427 0 72,286 0.1229
2019-08-14 2019-06-30 13F VALE S A SPONSORED ADS 91912E105 5,378,427 91,453 72,286
2019-05-15 2019-03-31 13F VALE S A SPONSORED ADS 91912E105 5,286,974 3,714,534 236.23 69,048 232.92 0.1178
2019-02-15 2018-12-31 13F VALE S A ADR 91912E105 1,572,440 -42,161 -2.61 20,740 -13.44 0.0401
2018-11-15 2018-09-30 13F VALE S A ADR 91912E105 1,614,601 -38,800 -2.35 23,960 13.04 0.0390
2019-03-21 2018-06-30 13F/A-1 VALE S A ADR 91912E105 1,653,401 34,400 2.12 21,196 2.92 0.0365
2018-08-14 2018-06-30 13F VALE S A ADR 91912E105 1,653,401 1,520,401 21,196
2018-05-11 2018-03-31 13F VALE S A ADR 91912E105 1,619,001 -234,100 -12.63 20,595 -9.12 0.0375
2018-05-11 2018-03-31 13F VALE S A ADR 91912E109 133,000 -1,720,101 1,692 0.0031
2018-02-14 2017-12-31 13F VALE S A ADR 91912E105 1,853,101 91,900 5.22 22,661 27.78 0.0401
2017-11-08 2017-09-30 13F VALE S A ADR 91912E105 1,761,201 147,100 9.11 17,735 25.57 0.0318
2017-11-08 2017-09-30 13F VALE S A ADR 91912E109 145,000 -1,469,101 1,460 0.0026
2017-08-14 2017-06-30 13F VALE S A ADR 91912E105 1,614,101 -6,300 -0.39 14,124 -8.26 0.0258
2017-05-15 2017-03-31 13F Vale ADR 91912E105 1,620,401 -20,401 -1.24 15,395 23.15 0.0280
2017-03-30 2016-12-31 13F/A-1 Vale ADR 91912E105 1,640,802 -252,152 -13.32 12,501 20.07 0.0239
2017-02-15 2016-12-31 13F Vale ADR 91912E105 1,640,802 12,501
2016-11-15 2016-09-30 13F VALE ADR 91912E105 1,892,954 -10,000 -0.53 10,411 8.11 0.0200
2016-09-14 2016-06-30 13F/A-1 VALE ADR 91912E105 1,902,954 -55,500 -2.83 9,630 16.81 0.0189
2016-08-15 2016-06-30 13F VALE ADR 91912E105 1,902,954 9,630
2016-05-16 2016-03-31 13F VALE ADR 91912E105 1,958,454 -111,900 -5.40 8,244 21.02 0.0166
2016-02-16 2015-12-31 13F VALE ADR 91912E105 2,070,354 1,098,860 113.11 6,812 66.96 0.0140
2015-11-16 2015-09-30 13F VALE ADR 91912E105 971,494 -164,935 -14.51 4,080 -39.05 0.0087
2015-08-21 2015-06-30 13F/A-1 Vale ADR 91912E105 1,136,429 1,104,429 3,451.34 6,694 3,725.14 0.0133
2015-08-14 2015-06-30 13F Vale ADR 91912E105 1,136,429 6,694
2015-05-18 2015-03-31 13F Vale ADR 91912E109 32,000 -1,946,629 -98.38 175 -98.92 0.0003
2015-05-18 2015-03-31 13F VALE ADR 91912E105 1,460,177 -518,452 8,250 0.0162
2015-02-17 2014-12-31 13F Vale ADR 91912E105 1,978,629 -129,200 -6.13 16,185 -30.26 0.0334
2014-11-14 2014-09-30 13F Vale ADR 91912E105 2,107,829 -49,200 -2.28 23,207 -18.68 0.0498
2014-08-14 2014-06-30 13F Vale ADR 91912E105 2,157,029 -287,200 -11.75 28,537 -15.56 0.0637
2014-05-15 2014-03-31 13F Vale Common Stock 91912E105 2,444,229 -490,737 -16.72 33,796 -24.43 0.0584
2014-02-14 2013-12-31 13F VALE ADR 91912E105 2,934,966 -197,195 -6.30 44,719 -8.54 0.0802
2013-11-14 2013-09-30 13F VALE SA ADR Common Stock 91912E105 3,132,161 304,000 10.75 48,893 31.47 0.0956
2013-08-16 2013-06-30 13F/A-1 VALE SA ADR COMMON 91912E105 2,828,161 2,828,161 37,190 0.0811
2013-08-14 2013-06-30 13F VALE SA ADR COMMON 91912E105 2,828,161 37,190 0.0811
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.