Westwood Global Investments’s Vale S A VALE.P Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-472,826	Closed	-$7.02M	–	12
2018 Q3	$7.02M	Hold	472,826	–	–	0.71%	9
2018 Q2	$6.06M	Hold	472,826	–	–	0.58%	10
2018 Q1	$6.01M	Hold	472,826	–	–	0.38%	12
2017 Q4	$5.78M	Hold	472,826	–	–	0.43%	11
2017 Q3	$4.76M	Sell	472,826 -33,304	-7%	-$335K	0.36%	11
2017 Q2	$4.13M	Hold	506,130	–	–	0.36%	11
2017 Q1	$4.55M	Hold	506,130	–	–	0.39%	11
2016 Q4	$3.49M	Hold	506,130	–	–	0.29%	9
2016 Q3	$2.38M	Hold	506,130	–	–	0.23%	12
2016 Q2	$2.03M	Hold	506,130	–	–	0.22%	13
2016 Q1	$1.58M	Buy	506,130 +188,418	+59%	+$588K	0.18%	14
2015 Q4	$810K	Hold	317,712	–	–	0.12%	10
2015 Q3	$1.06M	Hold	317,712	–	–	0.16%	10
2015 Q2	$1.6M	Buy	317,712 +43,337	+16%	+$219K	0.18%	10
2015 Q1	$1.33M	Sell	274,375 -94,046	-26%	-$456K	0.12%	11
2014 Q4	$2.68M	Hold	368,421	–	–	0.23%	11
2014 Q3	$3.58M	Hold	368,421	–	–	0.26%	11
2014 Q2	$4.38M	Buy	368,421 +86,958	+31%	+$1.03M	0.32%	10
2014 Q1	$3.5M	Hold	281,463	–	–	0.27%	11
2013 Q4	$3.94M	Hold	281,463	–	–	0.31%	11
2013 Q3	$4M	Hold	281,463	–	–	0.31%	12
2013 Q2	$3.42M	Buy	+281,463	New	+$3.42M	0.3%	12