What smart money is saying about Vale

Position history

Between Q3 2026 and Q4 2026, 2 fund letters reported a position in Vale, with 1 buy (opened or added).

Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.

Fund activity · 2 positions · 1 move

• AddedSomma Investimentos Funds

  October 2026

  “In October, SOMMA Fundamental Equities presented a depreciation of 10.71%, below the performance of the Ibovespa, which declined 9.88% in the same period. Year to date, the fund registers a decline of 1.62%, while the Ibovespa accumulates a gain of 4.22%. In the international scenario, the main highlight was the increase in investors' concern about the ability of technology companies to make the high investments made in Artificial Intelligence profitable. This movement provoked a significant correction in the main stocks of the sector, especially in those whose valuations depend on high growth of future results. Additionally, the conflict between Iran and the United States remained without a clear prospect of resolution, keeping oil prices on an upward trajectory and close to US$ 120 per barrel at the end of the month. In the domestic environment, the main pressure factor was the result of the presidential elections. The reelection of President Lula, contrary to market expectations and election polls, which indicated a higher probability of victory for the opposition, provoked a strong repricing of Brazilian assets. Before the result, the Ibovespa even renewed historical highs, driven mainly by the flow of foreign capital. However, after the confirmation of the election result, the market suffered a strong correction, with the Ibovespa triggering the circuit breaker mechanism for the first time since 2020. The movement was also accompanied by a significant depreciation of the real and by the opening of interest rate curves, reflecting the increased perception of fiscal and political risk. In sectoral terms, the companies most exposed to the domestic economy, especially in the Retail and Financial segments, were among the most pressured. On the other hand, exporting companies presented superior relative performance, benefited by the exchange rate depreciation and, in some cases, by the appreciation of commodities. Given the prospect of high interest rates for a longer period and a possible slowdown in economic activity, we adjusted the portfolio seeking to increase exposure to companies with greater capacity for generating and distributing cash via dividends, as well as companies with revenues less dependent on the dynamics of the domestic economy. In this context, the main movements involved opening a position in Copel, increasing the allocation in Axia, Petrobras and Vale, as well as reducing positions in PRIO and BTG.”

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  Vale
• HoldsIndie FIC FIA

  September 2026

  “On the negative side, the main detractors were the real estate sectors (-1.40 p.p.), with Tenda and Cury, and materials (-0.41 p.p.), with Vale.”

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  Vale