ECOLAB INC

Ticker: ECL CUSIP: 278865100 Class: COM

Empirical Finance, LLC's Holding History (CIK: 0001572838)

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

Q4 2025

Shares 8,510 Value ($000) $2,234 Avg Close $265.71 Range $251.04 - $281.41

Q3 2025

Shares 8,878 Value ($000) $2,431 Avg Close $270.32 Range $253.71 - $284.56

Q2 2025

Shares 8,790 Value ($000) $2,368 Avg Close $252.35 Range $219.93 - $269.19

Q1 2025

Shares 8,729 Value ($000) $2,213 Avg Close $249.61 Range $225.31 - $270.90

Q4 2024

Shares 8,565 Value ($000) $2,007 Avg Close $245.53 Range $230.70 - $259.26

Q3 2024

Shares 8,669 Value ($000) $2,213 Avg Close $241.07 Range $217.65 - $253.31

Q2 2024

Shares 8,453 Value ($000) $2,012 Avg Close $227.14 Range $213.29 - $242.24

Q1 2024

Shares 8,980 Value ($000) $2,073 Avg Close $207.94 Range $189.63 - $227.85

Q4 2023

Shares 8,669 Value ($000) $1,719 Avg Close $175.85 Range $153.18 - $197.06

Q3 2023

Shares 8,576 Value ($000) $1,453 Avg Close $177.30 Range $163.22 - $186.52

Q2 2023

Shares 7,743 Value ($000) $1,446 Avg Close $167.31 Range $156.95 - $182.94

Q1 2023

Shares 6,870 Value ($000) $1,137 Avg Close $150.99 Range $139.35 - $161.29

Q4 2022

Shares 6,585 Value ($000) $959 Avg Close $141.81 Range $126.42 - $153.48

Q3 2022

Shares 6,040 Value ($000) $872 Avg Close $156.07 Range $138.29 - $171.23

Q2 2022

Shares 5,048 Value ($000) $776 Avg Close $158.99 Range $137.82 - $177.76

Q1 2022

Shares 4,788 Value ($000) $845 Avg Close $179.54 Range $147.91 - $226.74

Q4 2021

Shares 4,280 Value ($000) $1,004 Avg Close $215.53 Range $199.33 - $227.72

Q3 2021

Shares 3,143 Value ($000) $656 Avg Close $208.54 Range $195.25 - $219.93

Q2 2021

Shares 2,540 Value ($000) $550 Avg Close $206.33 Range $194.28 - $218.25

Q1 2021

Shares 2,540 Value ($000) $550 Avg Close $201.55 Range $190.45 - $215.84

Q4 2020

Shares 2,540 Value ($000) $550 Avg Close $197.47 Range $171.24 - $214.73

Q3 2020

Shares 2,096 Value ($000) $419 Avg Close $188.44 Range $172.53 - $201.15

Q2 2020

Shares 1,670 Value ($000) $332 Avg Close $182.16 Range $136.65 - $217.57

Q1 2020

Shares 1,473 Value ($000) $230 Avg Close $176.33 Range $117.17 - $198.13

Q4 2016

Shares 133 Value ($000) $16 Avg Close $105.98 Range $100.13 - $110.74

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	8,510	$2,234	$265.71	$251.04 - $281.41
Q3 2025	8,878	$2,431	$270.32	$253.71 - $284.56
Q2 2025	8,790	$2,368	$252.35	$219.93 - $269.19
Q1 2025	8,729	$2,213	$249.61	$225.31 - $270.90
Q4 2024	8,565	$2,007	$245.53	$230.70 - $259.26
Q3 2024	8,669	$2,213	$241.07	$217.65 - $253.31
Q2 2024	8,453	$2,012	$227.14	$213.29 - $242.24
Q1 2024	8,980	$2,073	$207.94	$189.63 - $227.85
Q4 2023	8,669	$1,719	$175.85	$153.18 - $197.06
Q3 2023	8,576	$1,453	$177.30	$163.22 - $186.52
Q2 2023	7,743	$1,446	$167.31	$156.95 - $182.94
Q1 2023	6,870	$1,137	$150.99	$139.35 - $161.29
Q4 2022	6,585	$959	$141.81	$126.42 - $153.48
Q3 2022	6,040	$872	$156.07	$138.29 - $171.23
Q2 2022	5,048	$776	$158.99	$137.82 - $177.76
Q1 2022	4,788	$845	$179.54	$147.91 - $226.74
Q4 2021	4,280	$1,004	$215.53	$199.33 - $227.72
Q3 2021	3,143	$656	$208.54	$195.25 - $219.93
Q2 2021	2,540	$550	$206.33	$194.28 - $218.25
Q1 2021	2,540	$550	$201.55	$190.45 - $215.84
Q4 2020	2,540	$550	$197.47	$171.24 - $214.73
Q3 2020	2,096	$419	$188.44	$172.53 - $201.15
Q2 2020	1,670	$332	$182.16	$136.65 - $217.57
Q1 2020	1,473	$230	$176.33	$117.17 - $198.13
Q4 2016	133	$16	$105.98	$100.13 - $110.74