VALE S A

CUSIP: 91912e105 Class: COM

Adams Asset Advisors, LLC's Holding History (CIK: 0001386929)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015
Shares 448,501 Value ($000) $2,641 Avg Close — Range —
Q1 2015
Shares 505,569 Value ($000) $2,856 Avg Close — Range —
Q4 2014
Shares 505,569 Value ($000) $4,135 Avg Close — Range —