Ecolab Inc.
MX ˙ BMV ˙ US2788651006
SecurityMX:ECL / Ecolab Inc.
InstitutionTrue North Advisors, LLC
Latest Disclosed Ownership983 shares
Latest Disclosed Value $ 261,498
True North Advisors, LLC reports 0.41% decrease in ownership of ECL / Ecolab Inc.

On May 7, 2026 - True North Advisors, LLC filed a 13F-HR form disclosing ownership of 983 shares of Ecolab Inc. (MX:ECL) valued at $261,498 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 22, 2026 disclosing 987 shares of Ecolab Inc.. This represents a change in shares of -0.41% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-07 2026-03-31 13F ECOLAB COM 278865100 983 -4 -0.41 261 0.77 0.0298
2026-01-22 2025-12-31 13F ECOLAB COM 278865100 987 51 5.45 259 1.17 0.0335
2025-10-14 2025-09-30 13F ECOLAB COM 278865100 936 936 256 0.0407
2025-07-16 2025-06-30 13F ECOLAB COM 278865100 0 -816 -100.00 0 -100.00
2025-05-12 2025-03-31 13F ECOLAB COM 278865100 816 816 207 0.0367
2022-05-12 2022-03-31 13F Ecolab COM 278865100 0 -9,734 -100.00 0 -100.00
2022-02-11 2021-12-31 13F Ecolab COM 278865100 9,734 2,128 27.98 2,283 43.95 0.3856
2022-06-07 2021-09-30 13F Ecolab COM 278865100 7,606 8 0.11 1,586 1.41 0.3123
2022-06-07 2021-06-30 13F Ecolab COM 278865100 7,598 0 0.00 1,564 -3.81 0.3258
2022-06-07 2021-03-31 13F Ecolab COM 278865100 7,598 0 0.00 1,626 -1.03 0.3858
2022-05-20 2020-12-31 13F Ecolab COM 278865100 7,598 0 0.00 1,643 8.23 0.4219
2022-05-20 2020-09-30 13F Ecolab COM 278865100 7,598 -10,069 -56.99 1,518 -56.80 0.4428
2022-05-20 2020-06-30 13F Ecolab COM 278865100 17,667 -28 -0.16 3,514 27.46 0.8450
2022-05-12 2020-03-31 13F Ecolab COM 278865100 17,695 0 0.00 2,757 -19.24 0.9406
2022-05-12 2019-12-31 13F Ecolab COM 278865100 17,695 17,695 3,414 0.9605
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.