Ecolab Inc.
MX ˙ BMV ˙ US2788651006
SecurityMX:ECL / Ecolab Inc.
InstitutionCardinal Capital Management
Latest Disclosed Ownership43,098 shares
Latest Disclosed Value $ 11,496,177
Cardinal Capital Management reports 0.24% increase in ownership of ECL / Ecolab Inc.

On April 8, 2026 - Cardinal Capital Management filed a 13F-HR form disclosing ownership of 43,098 shares of Ecolab Inc. (MX:ECL) valued at $11,496,177 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 30, 2026 disclosing 42,993 shares of Ecolab Inc.. This represents a change in shares of 0.24% 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)
2026-04-08 2026-03-31 13F ECOLAB COM 278865100 43,098 105 0.24 11,496 1.58 1.4822
2026-01-30 2025-12-31 13F ECOLAB COMMON STOCK 278865100 42,993 140 0.33 11,318 -3.79 1.4990
2025-10-23 2025-09-30 13F ECOLAB Common Stock 278865100 42,853 60 0.14 11,763 1.78 1.6260
2025-07-15 2025-06-30 13F ECOLAB Common Stock 278865100 42,793 732 1.74 11,558 8.11 1.6962
2025-04-18 2025-03-31 13F ECOLAB Common Stock 278865100 42,061 262 0.63 10,690 8.85 1.6555
2025-01-31 2024-12-31 13F ECOLAB Common Stock 278865100 41,799 506 1.23 9,821 -7.05 1.5402
2024-10-16 2024-09-30 13F ECOLAB Common Stock 278865100 41,293 355 0.87 10,567 8.19 1.6439
2024-07-12 2024-06-30 13F ECOLAB Common Stock 278865100 40,938 28 0.07 9,766 3.16 1.6449
2024-07-12 2024-03-31 13F/A-1 ECOLAB Common Stock 278865100 40,910 2,572 6.71 9,468 24.16 1.5405
2024-04-15 2024-03-31 13F ECOLAB Common Stock 278865100 40,910 2,572 9,468 1.5405
2024-07-12 2023-12-31 13F/A-1 ECOLAB COM 278865100 38,338 -66 -0.17 7,626 16.86 1.4440
2024-01-29 2023-12-31 13F ECOLAB COM 278865100 38,338 -66 7,626 1.4440
2024-07-12 2023-09-30 13F/A-1 ECOLAB Common Stock 278865100 38,404 487 1.28 6,526 -8.07 1.3283
2023-10-16 2023-09-30 13F ECOLAB Common Stock 278865100 38,404 487 6,526 1.3283
2024-07-12 2023-06-30 13F/A-1 ECOLAB Common Stock 278865100 37,917 425 1.13 7,099 14.02 1.4296
2023-07-12 2023-06-30 13F ECOLAB Common Stock 278865100 37,917 425 7,099 1.4296
2023-04-19 2023-03-31 13F ECOLAB Common Stock 278865100 37,492 531 1.44 6,226 15.71 1.2917
2023-01-23 2022-12-31 13F Ecolab COM 278865100 36,961 266 0.72 5,380 1.53 1.1452
2022-10-24 2022-09-30 13F Ecolab Common Stock 278865100 36,695 792 2.21 5,299 -4.00 1.2541
2022-08-04 2022-06-30 13F Ecolab Common Stock 278865100 35,903 584 1.65 5,520 -11.48 1.2631
2022-04-21 2022-03-31 13F Ecolab Common Stock 278865100 35,319 1,324 3.89 6,236 -21.81 1.2615
2022-01-18 2021-12-31 13F Ecolab Common Stock 278865100 33,995 -288 -0.84 7,975 11.51 1.5793
2021-10-21 2021-09-30 13F Ecolab Common Stock 278865100 34,283 -606 -1.74 7,152 -0.47 1.5485
2021-07-14 2021-06-30 13F Ecolab Common Stock 278865100 34,889 153 0.44 7,186 -3.36 1.5171
2021-04-19 2021-03-31 13F Ecolab Common Stock 278865100 34,736 65 0.19 7,436 -0.87 1.6397
2021-02-01 2020-12-31 13F Ecolab Common Stock 278865100 34,671 -127 -0.36 7,501 7.87 1.7760
2020-10-16 2020-09-30 13F Ecolab Common Stock 278865100 34,798 -201 -0.57 6,954 -0.13 1.9159
2020-07-16 2020-06-30 13F Ecolab Common Stock 278865100 34,999 -185 -0.53 6,963 27.02 2.0034
2020-04-20 2020-03-31 13F Ecolab Common Stock 278865100 35,184 -1,039 -2.87 5,482 -21.58 1.8107
2020-01-21 2019-12-31 13F Ecolab Common Stock 278865100 36,223 -733 -1.98 6,991 -4.47 1.8153
2019-10-18 2019-09-30 13F Ecolab Common Stock 278865100 36,956 -573 -1.53 7,318 -1.24 2.0214
2019-07-08 2019-06-30 13F Ecolab Common Stock 278865100 37,529 -750 -1.96 7,410 9.66 2.1028
2019-04-11 2019-03-31 13F Ecolab Common Stock 278865100 38,279 -296 -0.77 6,757 18.88 1.9306
2019-01-15 2018-12-31 13F Ecolab Common Stock 278865100 38,575 282 0.74 5,684 -5.31 1.8735
2018-10-25 2018-09-30 13F Ecolab Common Stock 278865100 38,293 -349 -0.90 6,003 10.70 1.6986
2018-07-25 2018-06-30 13F Ecolab Common Stock 278865100 38,642 -271 -0.70 5,423 1.69 1.6416
2018-04-24 2018-03-31 13F Ecolab Common Stock 278865100 38,913 -1,055 -2.64 5,333 -0.56 1.6755
2018-02-01 2017-12-31 13F Ecolab Common Stock 278865100 39,968 92 0.23 5,363 4.58 1.6229
2017-10-24 2017-09-30 13F Ecolab COM 278865100 39,876 -301 -0.75 5,128 -3.84 1.6188
2017-07-27 2017-06-30 13F Ecolab Common Stock 278865100 40,177 1,437 3.71 5,333 9.82 1.7632
2017-04-25 2017-03-31 13F Ecolab Common Stock 278865100 38,740 -205 -0.53 4,856 6.37 1.7574
2017-02-17 2016-12-31 13F/A-1 Ecolab Common Stock 278865100 38,945 24 0.06 4,565 -3.63 1.7383
2017-01-23 2016-12-31 13F Ecolab Common Stock 278865100 38,945 4,565
2016-11-02 2016-09-30 13F Ecolab Common Stock 278865100 38,921 646 1.69 4,737 4.36 1.8579
2016-07-27 2016-06-30 13F Ecolab Common Stock 278865100 38,275 -186 -0.48 4,539 5.83 1.8453
2016-04-21 2016-03-31 13F Ecolab Common Stock 278865100 38,461 295 0.77 4,289 -1.74 1.8013
2016-01-29 2015-12-31 13F Ecolab Common Stock 278865100 38,166 -717 -1.84 4,365 2.32 1.9492
2015-10-23 2015-09-30 13F Ecolab Common Stock 278865100 38,883 -183 -0.47 4,266 -3.42 1.9945
2015-08-03 2015-06-30 13F Ecolab Common Stock 278865100 39,066 957 2.51 4,417 1.33 1.9292
2015-04-24 2015-03-31 13F Ecolab Common Stock 278865100 38,109 38,109 4,359 1.8409
2015-01-28 2014-12-31 13F Ecolab Common Stock 278865100 0 -40,226 -100.00 0 -100.00
2014-10-24 2014-09-30 13F Ecolab Common Stock 278865100 40,226 -75 -0.19 4,619 2.94 2.1970
2014-07-22 2014-06-30 13F Ecolab Common Stock 278865100 40,301 -251 -0.62 4,487 2.47 2.2251
2014-04-25 2014-03-31 13F Ecolab Common Stock 278865100 40,552 -2,456 -5.71 4,379 -2.34 2.2529
2014-01-24 2013-12-31 13F Ecolab Common Stock 278865100 43,008 -761 -1.74 4,484 3.72 2.2982
2013-10-28 2013-09-30 13F Ecolab Common Stock 278865100 43,769 -233 -0.53 4,323 15.31 2.4541
2013-07-24 2013-06-30 13F Ecolab Common Stock 278865100 44,002 44,002 3,749 2.2191
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.