NORTHWESTERN CORP

Ticker: NWE CUSIP: 668074305 Class: EQTY

NAPLES GLOBAL ADVISORS, LLC's Holding History (CIK: 0001582151)

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

Q4 2025

Shares 29,762 Value ($000) $1,921 Avg Close $62.82 Range $56.07 - $68.56

Q3 2025

Shares 29,865 Value ($000) $1,750 Avg Close $54.14 Range $49.85 - $58.24

Q2 2025

Shares 28,915 Value ($000) $1,483 Avg Close $53.53 Range $49.39 - $57.89

Q1 2025

Shares 27,815 Value ($000) $1,610 Avg Close $52.06 Range $48.49 - $56.12

Q4 2024

Shares 26,905 Value ($000) $1,438 Avg Close $51.38 Range $48.17 - $54.22

Q3 2024

Shares 25,705 Value ($000) $1,471 Avg Close $49.89 Range $45.22 - $54.21

Q2 2024

Shares 24,080 Value ($000) $1,206 Avg Close $46.58 Range $43.68 - $48.79

Q1 2024

Shares 25,295 Value ($000) $1,288 Avg Close $44.40 Range $41.90 - $47.03

Q4 2023

Shares 26,645 Value ($000) $1,356 Avg Close $44.88 Range $41.24 - $48.79

Q3 2023

Shares 27,410 Value ($000) $1,317 Avg Close $47.33 Range $42.66 - $51.72

Q2 2023

Shares 25,935 Value ($000) $1,472 Avg Close $51.34 Range $48.87 - $53.67

Q1 2023

Shares 26,560 Value ($000) $1,537 Avg Close $49.59 Range $46.79 - $52.43

Q4 2022

Shares 24,420 Value ($000) $1,449 Avg Close $46.84 Range $41.72 - $52.07

Q3 2022

Shares 17,260 Value ($000) $851 Avg Close $46.61 Range $42.04 - $51.24

Q2 2022

Shares 12,080 Value ($000) $712 Avg Close $49.98 Range $45.98 - $52.83

Q1 2022

Shares 9,880 Value ($000) $598 Avg Close $48.63 Range $46.08 - $51.75

Q4 2021

Shares 7,100 Value ($000) $406 Avg Close $46.70 Range $43.99 - $49.52

Q3 2021

Shares 6,975 Value ($000) $400 Avg Close $50.51 Range $46.92 - $53.26

Q2 2021

Shares 6,700 Value ($000) $403 Avg Close $52.44 Range $48.13 - $56.92

Q1 2021

Shares 6,750 Value ($000) $440 Avg Close $47.20 Range $42.31 - $53.28

Q4 2020

Shares 7,050 Value ($000) $411 Avg Close $43.87 Range $37.97 - $49.46

Q3 2020

Shares 6,750 Value ($000) $328 Avg Close $41.40 Range $37.35 - $45.52

Q2 2020

Shares 5,415 Value ($000) $295 Avg Close $44.67 Range $39.68 - $50.33

Q1 2020

Shares 3,490 Value ($000) $209 Avg Close $54.52 Range $34.68 - $61.46

Q4 2019

Shares 3,490 Value ($000) $250 Avg Close $54.65 Range $51.50 - $57.67

Q3 2019

Shares 3,550 Value ($000) $266 Avg Close $54.27 Range $50.60 - $58.08

Q2 2019

Shares 3,550 Value ($000) $256 Avg Close $53.01 Range $50.21 - $55.53

Q1 2019

Shares 3,750 Value ($000) $264 Avg Close $48.59 Range $42.38 - $53.49

Q4 2018

Shares 3,750 Value ($000) $229 Avg Close $45.03 Range $41.21 - $48.18

Q3 2018

Shares 3,835 Value ($000) $225 Avg Close $43.15 Range $40.65 - $45.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	29,762	$1,921	$62.82	$56.07 - $68.56
Q3 2025	29,865	$1,750	$54.14	$49.85 - $58.24
Q2 2025	28,915	$1,483	$53.53	$49.39 - $57.89
Q1 2025	27,815	$1,610	$52.06	$48.49 - $56.12
Q4 2024	26,905	$1,438	$51.38	$48.17 - $54.22
Q3 2024	25,705	$1,471	$49.89	$45.22 - $54.21
Q2 2024	24,080	$1,206	$46.58	$43.68 - $48.79
Q1 2024	25,295	$1,288	$44.40	$41.90 - $47.03
Q4 2023	26,645	$1,356	$44.88	$41.24 - $48.79
Q3 2023	27,410	$1,317	$47.33	$42.66 - $51.72
Q2 2023	25,935	$1,472	$51.34	$48.87 - $53.67
Q1 2023	26,560	$1,537	$49.59	$46.79 - $52.43
Q4 2022	24,420	$1,449	$46.84	$41.72 - $52.07
Q3 2022	17,260	$851	$46.61	$42.04 - $51.24
Q2 2022	12,080	$712	$49.98	$45.98 - $52.83
Q1 2022	9,880	$598	$48.63	$46.08 - $51.75
Q4 2021	7,100	$406	$46.70	$43.99 - $49.52
Q3 2021	6,975	$400	$50.51	$46.92 - $53.26
Q2 2021	6,700	$403	$52.44	$48.13 - $56.92
Q1 2021	6,750	$440	$47.20	$42.31 - $53.28
Q4 2020	7,050	$411	$43.87	$37.97 - $49.46
Q3 2020	6,750	$328	$41.40	$37.35 - $45.52
Q2 2020	5,415	$295	$44.67	$39.68 - $50.33
Q1 2020	3,490	$209	$54.52	$34.68 - $61.46
Q4 2019	3,490	$250	$54.65	$51.50 - $57.67
Q3 2019	3,550	$266	$54.27	$50.60 - $58.08
Q2 2019	3,550	$256	$53.01	$50.21 - $55.53
Q1 2019	3,750	$264	$48.59	$42.38 - $53.49
Q4 2018	3,750	$229	$45.03	$41.21 - $48.18
Q3 2018	3,835	$225	$43.15	$40.65 - $45.13