13F

Position

FOCUSED ALPHA, LLC in Vale S.A.

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark $54.5K$13.03$15.91

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 202518.9K$246.5K0.1%
Q1 202621.9K$348.8K$15.91$54.5K$47.8K0.1%