ECOLAB INC

Ticker: ECL CUSIP: 278865100 Class: COM

Bell Bank's Holding History (CIK: 0001002672)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 1,425 Value ($000) $374 Avg Close $265.71 Range $251.04 - $281.41

Q3 2025

Shares 1,449 Value ($000) $397 Avg Close $270.32 Range $253.71 - $284.56

Q2 2025

Shares 1,318 Value ($000) $355 Avg Close $252.35 Range $219.93 - $269.19

Q1 2025

Shares 1,318 Value ($000) $334 Avg Close $249.61 Range $225.31 - $270.90

Q4 2024

Shares 1,358 Value ($000) $318 Avg Close $245.53 Range $230.70 - $259.26

Q3 2024

Shares 1,350 Value ($000) $345 Avg Close $241.07 Range $217.65 - $253.31

Q2 2024

Shares 1,350 Value ($000) $321 Avg Close $227.14 Range $213.29 - $242.24

Q1 2024

Shares 1,402 Value ($000) $324 Avg Close $207.94 Range $189.63 - $227.85

Q4 2023

Shares 3,110 Value ($000) $617 Avg Close $175.85 Range $153.18 - $197.06

Q3 2023

Shares 4,881 Value ($000) $827 Avg Close $177.30 Range $163.22 - $186.52

Q2 2023

Shares 5,126 Value ($000) $957 Avg Close $167.31 Range $156.95 - $182.94

Q1 2023

Shares 5,355 Value ($000) $886 Avg Close $150.99 Range $139.35 - $161.29

Q4 2022

Shares 5,664 Value ($000) $824 Avg Close $141.81 Range $126.42 - $153.48

Q3 2022

Shares 6,023 Value ($000) $870 Avg Close $156.07 Range $138.29 - $171.23

Q2 2022

Shares 6,189 Value ($000) $952 Avg Close $158.99 Range $137.82 - $177.76

Q1 2022

Shares 5,422 Value ($000) $957 Avg Close $179.54 Range $147.91 - $226.74

Q4 2021

Shares 5,086 Value ($000) $1,193 Avg Close $215.53 Range $199.33 - $227.72

Q3 2021

Shares 6,653 Value ($000) $1,388 Avg Close $208.54 Range $195.25 - $219.93

Q2 2021

Shares 6,328 Value ($000) $1,303 Avg Close $206.33 Range $194.28 - $218.25

Q1 2021

Shares 6,256 Value ($000) $1,339 Avg Close $201.55 Range $190.45 - $215.84

Q4 2020

Shares 6,133 Value ($000) $1,327 Avg Close $197.47 Range $171.24 - $214.73

Q3 2020

Shares 6,051 Value ($000) $1,209 Avg Close $188.44 Range $172.53 - $201.15

Q2 2020

Shares 5,762 Value ($000) $1,146 Avg Close $182.16 Range $136.65 - $217.57

Q1 2020

Shares 5,877 Value ($000) $916 Avg Close $176.33 Range $117.17 - $198.13

Q4 2019

Shares 5,847 Value ($000) $1,128 Avg Close $177.67 Range $169.74 - $186.58

Q3 2019

Shares 5,772 Value ($000) $1,143 Avg Close $187.16 Range $179.22 - $195.89

Q2 2019

Shares 5,837 Value ($000) $1,152 Avg Close $173.21 Range $164.99 - $187.12

Q1 2019

Shares 5,965 Value ($000) $1,053 Avg Close $150.92 Range $131.24 - $169.66

Q4 2018

Shares 6,233 Value ($000) $918 Avg Close $141.48 Range $126.10 - $150.86

Q3 2018

Shares 6,187 Value ($000) $970 Avg Close $137.00 Range $128.06 - $148.09

Q2 2018

Shares 5,673 Value ($000) $796 Avg Close $132.91 Range $122.30 - $138.58

Q1 2018

Shares 4,745 Value ($000) $650 Avg Close $123.54 Range $115.47 - $129.02

Q4 2017

Shares 4,449 Value ($000) $597 Avg Close $121.85 Range $117.53 - $126.30

Q3 2017

Shares 4,456 Value ($000) $573 Avg Close $120.10 Range $116.11 - $122.59

Q2 2017

Shares 4,633 Value ($000) $615 Avg Close $117.68 Range $113.27 - $123.01

Q1 2017

Shares 4,706 Value ($000) $590 Avg Close $111.04 Range $106.47 - $114.69

Q4 2016

Shares 4,409 Value ($000) $517 Avg Close $105.98 Range $100.13 - $110.74

Q3 2016

Shares 3,390 Value ($000) $413 Avg Close $108.98 Range $105.46 - $112.42

Q2 2016

Shares 3,240 Value ($000) $384 Avg Close $104.92 Range $98.81 - $109.58

Q1 2016

Shares 2,751 Value ($000) $307 Avg Close $95.34 Range $88.43 - $102.02

Q4 2015

Shares 2,851 Value ($000) $326 Avg Close $105.21 Range $98.01 - $109.49

Q3 2015

Shares 2,290 Value ($000) $251 Avg Close $99.79 Range $91.88 - $104.89

Q2 2015

Shares 1,848 Value ($000) $209 Avg Close $102.25 Range $97.79 - $105.41

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,425	$374	$265.71	$251.04 - $281.41
Q3 2025	1,449	$397	$270.32	$253.71 - $284.56
Q2 2025	1,318	$355	$252.35	$219.93 - $269.19
Q1 2025	1,318	$334	$249.61	$225.31 - $270.90
Q4 2024	1,358	$318	$245.53	$230.70 - $259.26
Q3 2024	1,350	$345	$241.07	$217.65 - $253.31
Q2 2024	1,350	$321	$227.14	$213.29 - $242.24
Q1 2024	1,402	$324	$207.94	$189.63 - $227.85
Q4 2023	3,110	$617	$175.85	$153.18 - $197.06
Q3 2023	4,881	$827	$177.30	$163.22 - $186.52
Q2 2023	5,126	$957	$167.31	$156.95 - $182.94
Q1 2023	5,355	$886	$150.99	$139.35 - $161.29
Q4 2022	5,664	$824	$141.81	$126.42 - $153.48
Q3 2022	6,023	$870	$156.07	$138.29 - $171.23
Q2 2022	6,189	$952	$158.99	$137.82 - $177.76
Q1 2022	5,422	$957	$179.54	$147.91 - $226.74
Q4 2021	5,086	$1,193	$215.53	$199.33 - $227.72
Q3 2021	6,653	$1,388	$208.54	$195.25 - $219.93
Q2 2021	6,328	$1,303	$206.33	$194.28 - $218.25
Q1 2021	6,256	$1,339	$201.55	$190.45 - $215.84
Q4 2020	6,133	$1,327	$197.47	$171.24 - $214.73
Q3 2020	6,051	$1,209	$188.44	$172.53 - $201.15
Q2 2020	5,762	$1,146	$182.16	$136.65 - $217.57
Q1 2020	5,877	$916	$176.33	$117.17 - $198.13
Q4 2019	5,847	$1,128	$177.67	$169.74 - $186.58
Q3 2019	5,772	$1,143	$187.16	$179.22 - $195.89
Q2 2019	5,837	$1,152	$173.21	$164.99 - $187.12
Q1 2019	5,965	$1,053	$150.92	$131.24 - $169.66
Q4 2018	6,233	$918	$141.48	$126.10 - $150.86
Q3 2018	6,187	$970	$137.00	$128.06 - $148.09
Q2 2018	5,673	$796	$132.91	$122.30 - $138.58
Q1 2018	4,745	$650	$123.54	$115.47 - $129.02
Q4 2017	4,449	$597	$121.85	$117.53 - $126.30
Q3 2017	4,456	$573	$120.10	$116.11 - $122.59
Q2 2017	4,633	$615	$117.68	$113.27 - $123.01
Q1 2017	4,706	$590	$111.04	$106.47 - $114.69
Q4 2016	4,409	$517	$105.98	$100.13 - $110.74
Q3 2016	3,390	$413	$108.98	$105.46 - $112.42
Q2 2016	3,240	$384	$104.92	$98.81 - $109.58
Q1 2016	2,751	$307	$95.34	$88.43 - $102.02
Q4 2015	2,851	$326	$105.21	$98.01 - $109.49
Q3 2015	2,290	$251	$99.79	$91.88 - $104.89
Q2 2015	1,848	$209	$102.25	$97.79 - $105.41