Ecolab Inc.
MX ˙ BMV ˙ US2788651006
SecurityMX:ECL / Ecolab Inc.
InstitutionBelpointe Asset Management LLC
Latest Disclosed Ownership2,014 shares
Latest Disclosed Value $ 535,764
Belpointe Asset Management LLC reports 13.86% decrease in ownership of ECL / Ecolab Inc.

On April 28, 2026 - Belpointe Asset Management LLC filed a 13F-HR form disclosing ownership of 2,014 shares of Ecolab Inc. (MX:ECL) valued at $535,764 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 27, 2026 disclosing 2,338 shares of Ecolab Inc.. This represents a change in shares of -13.86% 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)
2026-04-28 2026-03-31 13F ECOLAB COM 278865100 2,014 -324 -13.86 536 -12.72 0.0196
2026-01-27 2025-12-31 13F ECOLAB COM 278865100 2,338 -306 -11.57 614 -15.33 0.0222
2025-11-03 2025-09-30 13F ECOLAB COM 278865100 2,644 4 0.15 724 1.83 0.0277
2025-07-22 2025-06-30 13F ECOLAB COM 278865100 2,640 -138 -4.97 711 0.99 0.0296
2025-05-20 2025-03-31 13F ECOLAB COM 278865100 2,778 -202 -6.78 704 -6.63 0.0366
2025-02-13 2024-12-31 13F ECOLAB COM 278865100 2,980 43 1.46 755 0.53 0.0455
2024-11-13 2024-09-30 13F ECOLAB COM 278865100 2,937 -48 -1.61 750 5.63 0.0450
2024-08-02 2024-06-30 13F ECOLAB COM 278865100 2,985 14 0.47 711 3.50 0.0496
2024-05-08 2024-03-31 13F ECOLAB COM 278865100 2,971 228 8.31 686 26.10 0.0514
2024-02-13 2023-12-31 13F ECOLAB COM 278865100 2,743 92 3.47 544 21.16 0.0478
2023-11-15 2023-09-30 13F ECOLAB COM 278865100 2,651 17 0.65 449 -8.55 0.0465
2023-08-15 2023-06-30 13F ECOLAB COM 278865100 2,634 -528 -16.70 492 -6.12 0.0520
2023-05-15 2023-03-31 13F ECOLAB COM 278865100 3,162 -201 -5.98 523 6.95 0.0283
2023-02-08 2022-12-31 13F ECOLAB COM 278865100 3,363 871 34.95 490 35.83 0.0296
2022-11-14 2022-09-30 13F ECOLAB COM 278865100 2,492 -218 -8.04 360 -13.67 0.0243
2022-08-02 2022-06-30 13F ECOLAB COM 278865100 2,710 -128 -4.51 417 -16.77 0.0280
2022-04-28 2022-03-31 13F ECOLAB COM 278865100 2,838 1,981 231.16 501 150.50 0.0304
2022-02-15 2021-12-31 13F ECOLAB COM 278865100 857 -2,882 -77.08 200 -74.33 0.0125
2021-11-15 2021-09-30 13F ECOLAB COM 278865100 3,739 323 9.46 779 10.81 0.0531
2021-08-09 2021-06-30 13F ECOLAB COM 278865100 3,416 422 14.09 703 9.67 0.0506
2021-05-14 2021-03-31 13F ECOLAB COM 278865100 2,994 -302 -9.16 641 -10.10 0.0549
2021-02-16 2020-12-31 13F ECOLAB COM 278865100 3,296 104 3.26 713 11.76 0.0640
2020-11-13 2020-09-30 13F/A-1 ECOLAB COM 278865100 3,192 14 0.44 638 0.79 0.0710
2020-11-13 2020-09-30 13F ECOLAB COM 278865100 2,964 462
2020-07-20 2020-06-30 13F ECOLAB COM 278865100 3,178 214 7.22 633 37.01 0.0820
2020-07-20 2020-03-31 13F ECOLAB COM 278865100 2,964 -373 -11.18 462 -28.26 0.0809
2020-02-18 2019-12-31 13F ECOLAB COM 278865100 3,337 274 8.95 644 6.10 0.0817
2020-01-16 2019-09-30 13F ECOLAB COM 278865100 3,063 -116 -3.65 607 -3.34 0.0982
2019-11-22 2019-06-30 13F ECOLAB COM 278865100 3,179 -245 -7.16 628 3.97 0.1235
2019-06-11 2019-03-31 13F ECOLAB COM 278865100 3,424 238 7.47 604 28.78 0.1180
2019-03-06 2018-12-31 13F ECOLAB COM 278865100 3,186 -210 -6.18 469 -11.84 0.1189
2018-11-23 2018-09-30 13F ECOLAB COM 278865100 3,396 676 24.85 532 39.27 0.0841
2018-08-06 2018-06-30 13F ECOLAB COM 278865100 2,720 -3 -0.11 382 2.41 0.1067
2018-08-06 2018-03-31 13F ECOLAB COM 278865100 2,723 -4,173 -60.51 373 -59.68 0.1087
2018-02-14 2017-12-31 13F ECOLAB COM 278865100 6,896 482 7.51 925 12.12 0.2026
2017-11-16 2017-09-30 13F ECOLAB COM 278865100 6,414 6,414 825 0.1930
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.