Ecolab Inc.
MX ˙ BMV ˙ US2788651006
SecurityMX:ECL / Ecolab Inc.
InstitutionCullinan Associates Inc
Latest Disclosed Ownership22,326 shares
Latest Disclosed Value $ 5,939,158
Cullinan Associates Inc reports 11.40% decrease in ownership of ECL / Ecolab Inc.

On May 1, 2026 - Cullinan Associates Inc filed a 13F-HR form disclosing ownership of 22,326 shares of Ecolab Inc. (MX:ECL) valued at $5,939,158 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 30, 2026 disclosing 25,200 shares of Ecolab Inc.. This represents a change in shares of -11.40% 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)
2026-05-01 2026-03-31 13F Ecolab COM 278865100 22,326 -2,874 -11.40 5,939 -10.22 0.4804
2026-01-30 2025-12-31 13F Ecolab COM 278865100 25,200 1,394 5.86 6,615 1.47 0.4484
2025-10-27 2025-09-30 13F Ecolab COM 278865100 23,806 340 1.45 6,520 3.12 0.4245
2025-07-22 2025-06-30 13F Ecolab COM 278865100 23,466 2,455 11.68 6,323 18.70 0.4170
2025-04-22 2025-03-31 13F Ecolab COM 278865100 21,011 -2,903 -12.14 5,327 -4.94 0.3766
2025-01-24 2024-12-31 13F Ecolab COM 278865100 23,914 6,791 39.66 5,604 26.14 0.3597
2024-10-23 2024-09-30 13F Ecolab COM 278865100 17,123 9,374 120.97 4,442 140.89 0.2505
2024-07-10 2024-06-30 13F Ecolab COM 278865100 7,749 2,075 36.57 1,844 40.76 0.1043
2024-04-18 2024-03-31 13F Ecolab COM 278865100 5,674 5,674 1,310 0.0735
2023-04-05 2023-03-31 13F Ecolab COM 278865100 0 -1,790 -100.00 0 -100.00 0.0000
2023-01-11 2022-12-31 13F Ecolab COM 278865100 1,790 1,790 0 0.0145
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.