IFP Advisors, Inc reports 5.68% decrease in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock) - 13F, 13D, 13G Filings

淡水河谷公司 - 存託憑證（普通股）

US ˙ NYSE ˙ US91912E1055

Security	VALE / Vale S.A. - Depositary Receipt (Common Stock)
Institution	IFP Advisors, Inc
Latest Disclosed Ownership	1,180 shares
Latest Disclosed Value	$ 18,774

IFP Advisors, Inc reports 5.68% decrease in ownership of VALE / Vale S.A. - Depositary Receipt (Common Stock)

On April 13, 2026 - IFP Advisors, Inc filed a 13F-HR form disclosing ownership of 1,180 shares of Vale S.A. - Depositary Receipt (Common Stock) (US:VALE) valued at $18,774 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 1,251 shares of Vale S.A. - Depositary Receipt (Common Stock). This represents a change in shares of -5.68% during the quarter. The current value of the position is $18,609 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 (%)
2026-04-13	2026-03-31	13F	VALE S A	cs	91912E105	1,180	-71	-5.68	19	12.50	0.0004
2026-02-06	2025-12-31	13F	VALE S A	cs	91912E105	1,251	-3,700	-74.73	16	-69.81	0.0004
2026-02-06	2025-09-30	13F/A-1	VALE S	cs	91912E105	4,951	3,128	171.59	54	211.76	0.0014
2025-12-02	2025-09-30	13F	VALE S	cs	91912E105	4,951	3,128		54		0.0014
2025-07-24	2025-06-30	13F	VALE S A	cs	91912E105	1,823	-1,000	-35.42	18	-39.29	0.0005
2025-05-05	2025-03-31	13F	VALE S A	cs	91912E105	2,823	-54	-1.88	28	12.00	0.0009
2025-02-04	2024-12-31	13F	VALE S A	cs	91912E105	2,877	1,938	206.39	26	150.00	0.0008
2025-02-04	2024-09-30	13F	VALE S A	cs	91912E105	939	0	0.00	11	0.00	0.0004
2024-07-30	2024-06-30	13F	VALE S A	cs	91912E105	939	63	7.19	10	0.00	0.0004
2024-07-30	2024-03-31	13F	VALE S A	cs	91912E105	876	76	9.50	11	-16.67	0.0005
2024-01-09	2023-12-31	13F	VALE S A	cs	91912E105	800	-27	-3.26	13	9.09	0.0006
2023-10-12	2023-09-30	13F	VALE S A	cs	91912E105	827	0	0.00	11	0.00	0.0005
2023-08-14	2023-06-30	13F/A-1	VALE S A	cs	91912E105	827	0	0.00	11	-26.67	0.0005
2023-08-04	2023-06-30	13F	VALE S A	cs	91912E105	827	0		15		0.0007
2023-04-18	2023-03-31	13F	VALE S A	cs	91912E105	827	-2,827	-77.37	15		0.0007
2023-02-07	2022-12-31	13F	VALE S A	cs	91912E105	3,654	-10,093	-73.42	0	-100.00	0.0018
2022-11-08	2022-09-30	13F	VALE S A	cs	91912E105	13,747	1,324	10.66	326	7.95	0.0085
2022-09-06	2022-06-30	13F/A-1	VALE S A	cs	91912E105	12,423	0	0.00	302	0.00	0.0097
2022-09-06	2022-03-31	13F/A-1	VALE S A	cs	91912E105	12,423	10,989	766.32	302	1,338.10	0.0097
2022-08-08	2022-03-31	13F	VALE S A SPONSORED ADS	Stock	91912E105	5,086	3,652		137		0.0028
2022-01-12	2021-12-31	13F	VALE S A SPONSORED ADS	Stock	91912E105	1,434	-6,112	-81.00	21	-80.37	0.0004
2021-10-06	2021-09-30	13F	VALE S A SPONSORED ADS	Stock	91912E105	7,546	-10,601	-58.42	107	-74.52	0.0021
2021-07-13	2021-06-30	13F	VALE S A SPONSORED ADS	Stock	91912E105	18,147	12,755	236.55	420	320.00	0.0087
2021-04-30	2021-03-31	13F	VALE S A SPONSORED ADS	Stock	91912E105	5,392	4,998	1,268.53	100	1,328.57	0.0019
2021-01-25	2020-12-31	13F	VALE S A SPONSORED ADS	Stock	91912E105	394	-1,154	-74.55	7	-58.82	0.0003
2020-10-29	2020-09-30	13F	VALE S A SPONSORED ADS	Stock	91912E105	1,548	0	0.00	17	6.25	0.0010
2020-08-05	2020-06-30	13F	VALE S A SPONSORED ADS	Stock	91912E105	1,548	0	0.00	16	14.29	0.0013
2020-05-12	2020-03-31	13F	VALE S A SPONSORED ADS	Stock	91912E105	1,548	0	0.00	14	-30.00	0.0014
2020-01-17	2019-12-31	13F	VALE S A SPONSORED ADS	Stock	91912E105	1,548	-477	-23.56	20	-16.67	0.0015
2019-11-07	2019-09-30	13F	VALE S A SPONSORED ADS	Stock	91912E105	2,025	1,964	3,219.67	24	2,300.00	0.0016
2019-05-15	2019-03-31	13F	VALE S AADR	Stock	91912E105	61	-2,699	-97.79	1	-97.22	0.0001
2019-06-03	2018-12-31	13F/A-10	VALE SA	ADR	91912E105	2,760	-300	-9.80	36	-20.00	0.0022
2019-01-23	2018-12-31	13F	VALE SA	ADR	91912E105	2,760	-300		36		0.0022
2019-06-03	2018-09-30	13F/A-9	VALE SA	ADR	91912E105	3,060	-18	-0.58	45	15.38	0.0018
2018-10-25	2018-09-30	13F	VALE SA	ADR	91912E105	3,060	-18		45		0.0018
2019-06-03	2018-06-30	13F/A-8	VALE SA	ADR	91912E105	3,078	-4,280	-58.17	39	-56.67	0.0016
2018-08-07	2018-06-30	13F	VALE SA	ADR	91912E105	3,078	-3,029		39
2019-06-03	2018-03-31	13F/A-7	VALE S A ADR	ADR	91912E105	7,358	0	0.00	90	0.00	0.0041
2018-05-09	2018-03-31	13F	VALE SA	ADR	91912E105	6,107	-1,251		78
2019-06-03	2017-12-31	13F/A-6	VALE S A ADR	ADR	91912E105	7,358	1,610	28.01	90	55.17	0.0041
2018-01-24	2017-12-31	13F	VALE S A ADR	ADR	91912E105	7,358	1,610		90
2017-10-30	2017-09-30	13F	VALE S A ADR	ADR	91912E105	5,748	-826	-12.56	58	0.00	0.0023
2019-06-03	2017-06-30	13F/A-5	VALE S A ADR	ADR	91912E105	6,574	-1,219	-15.64	58	-21.62	0.0025
2017-07-31	2017-06-30	13F	VALE S A ADR	ADR	91912E105	6,574	-1,219		58
2019-06-03	2017-03-31	13F/A-4	VALE S A ADR	ADR	91912E105	7,793	-1,061	-11.98	74	10.45	0.0032
2017-04-26	2017-03-31	13F	VALE S A ADR	ADR	91912E105	7,793	-1,061		74
2019-06-03	2016-12-31	13F/A-3	VALE S A ADR	ADR	91912E105	8,854	2,092	30.94	67	81.08	0.0032
2017-02-14	2016-12-31	13F	VALE S A ADR	ADR	91912E105	8,854	2,092		67
2016-11-04	2016-09-30	13F	VALE S A ADR	ADR	91912E105	6,762	0	0.00	37	8.82	0.0019
2019-06-03	2016-06-30	13F/A-2	VALE S A ADR	ADR	91912E105	6,762	6,701	10,985.25	34	3,300.00	0.0019
2016-08-22	2016-06-30	13F	VALE S A ADR	ADR	91912E105	6,762	6,701		34
2019-06-03	2016-03-31	13F/A-1	VALE S AADR	Stock	91912E105	61	-5,376	-98.88	1	-94.44	0.0001
2016-05-02	2016-03-31	13F	VALE S A ADR	ADR	91912E105	6,762	1,325		28
2016-02-11	2015-12-31	13F	VALE S A ADR	ADR	91912E105	5,437	5,437		18		0.0012

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.