Howard Marks acquired 6.01 Million Vale S.A. shares worth $56.4 Million. That's 1.52% of their equity portfolio (16th largest holding). The first Vale S.A. trade was made in Q1 2010. Since then Howard Marks bought shares 22 more times and sold shares on nineteen occasions. The investor's estimated purchase price is $76.9 Million, resulting in a loss of 27%.