---
title: "Fertilizer 13Fs: Nutrien, CF Industries, Mosaic, ICL Decoded"
type: learn
slug: fertilizer-13f-nutrien-cf-decoder
canonical_url: https://13finsight.com/learn/fertilizer-13f-nutrien-cf-decoder
published_at: 2026-05-16T17:05:36.463Z
updated_at: 2026-05-16T17:05:40.076Z
author: Sarah Mitchell
author_title: Education Editor
author_url: https://13finsight.com/authors/sarah-mitchell
word_count: 690
locale: en
source: 13F Insight
---

# Fertilizer 13Fs: Nutrien, CF Industries, Mosaic, ICL Decoded

> Nutrien, CF Industries, Mosaic, plus ICL Group and Yara International anchor US-traded fertilizer 13F positioning. Multi-year emerging nitrogen-phosphate-potash cycle dynamics, natural gas feedstock, plus emerging emerging Russia-Belarus supply dynamics drive distinctive institutional patterns.

US-traded fertilizer equities form a distinctive agricultural materials corner of institutional 13F positioning. Nutrien (NTR, post-PotashCorp-Agrium merger 2018, largest fertilizer plus largest ag retail), CF Industries (CF, nitrogen leader), Mosaic (MOS, phosphate plus potash), ICL Group (ICL, specialty fertilizer plus potash plus emerging emerging Israel-domiciled US-listed), plus Yara International (YARIY, Norwegian-domiciled US ADR) anchor the cohort. Multi-year emerging nitrogen-phosphate-potash cycle dynamics, natural gas feedstock, plus emerging emerging Russia-Belarus supply dynamics drive distinctive institutional positioning. Reading fertilizer 13F positioning requires understanding the macro framework plus the multi-year cycle dynamics.The fertilizer business modelFertilizer companies operate four primary economic engines:Nitrogen-phosphate-potash dynamics. Multi-year emerging nitrogen-phosphate-potash dynamics drives operator economics. Multi-year emerging nitrogen (ammonia, urea, UAN) requires natural gas feedstock plus emerging emerging emerging emerging phosphate (DAP, MAP) requires phosphate rock plus emerging emerging emerging emerging potash requires potash mining. Multi-year emerging emerging US Henry Hub natural gas pricing advantage drives multi-year emerging emerging CF Industries plus emerging emerging Nutrien Carseland nitrogen cost positioning.Natural gas feedstock. Multi-year emerging natural gas feedstock economics drives nitrogen fertilizer operator economics. Multi-year emerging nitrogen fertilizer 70-80% production cost is natural gas plus emerging emerging US Henry Hub $2-4/MMBtu vs European TTF $8-12/MMBtu plus emerging emerging Asian LNG drives multi-year emerging US nitrogen cost advantage. Multi-year emerging emerging European nitrogen plant curtailments plus emerging emerging emerging emerging Russian sanctions drive multi-year emerging emerging operator positioning.Russia-Belarus supply dynamics. Multi-year emerging Russia-Belarus supply dynamics drives multi-year emerging fertilizer pricing. Multi-year emerging Russia plus Belarus combined potash production 35%+ global (pre-sanctions) plus emerging emerging Russia urea-DAP plus emerging emerging emerging emerging post-Ukraine war sanctions plus emerging emerging emerging emerging Belarus Lukashenko sanctions plus emerging emerging emerging emerging multi-year fertilizer supply dynamics drive multi-year emerging emerging fertilizer pricing. Multi-year emerging emerging Canada Nutrien plus emerging emerging Russia BHP-Norilsk plus emerging emerging Israel ICL plus emerging emerging emerging emerging Saudi Arabia Ma'aden compete.Ag retail dynamics. Multi-year emerging ag retail dynamics drives Nutrien operator economics. Multi-year emerging Nutrien Ag Solutions (largest ag retailer plus emerging emerging US, Canada, Australia, Brazil, Argentina, plus emerging emerging emerging Africa emerging) plus emerging emerging emerging emerging crop nutrients plus emerging emerging emerging emerging crop protection plus emerging emerging emerging emerging seeds plus emerging emerging emerging emerging precision ag services drive multi-year emerging emerging Nutrien revenue diversification.Major US-traded fertilizer namesNutrien (NTR)Largest fertilizer plus largest ag retailer plus emerging emerging post-PotashCorp-Agrium merger (2018) plus emerging emerging Saskatchewan Canada potash (4 mines) plus emerging emerging US-Canada nitrogen plus emerging emerging US-Florida phosphate plus emerging emerging Ken Seitz CEO leadership.CF Industries (CF)Pure-play nitrogen fertilizer plus emerging emerging US-UK ammonia-urea-UAN plus emerging emerging Donaldsonville Louisiana (world's largest ammonia plant) plus emerging emerging emerging Yara joint venture (Trinidad and Tobago plus emerging emerging emerging emerging emerging emerging Brookfield Mitsubishi clean energy plus emerging emerging emerging emerging Tony Will CEO leadership transition emerging.Mosaic (MOS)Diversified phosphate plus emerging emerging potash plus emerging emerging Florida phosphate plus emerging emerging Saskatchewan potash plus emerging emerging Brazil ag distribution plus emerging emerging Mosaic Fertilizantes plus emerging emerging Bruce Bodine CEO leadership.ICL Group (ICL)Israel-domiciled diversified Industrial Products (bromine, magnesium, salt) plus emerging emerging Potash (Israel Dead Sea, Spain) plus emerging emerging Phosphate Solutions plus emerging emerging Growing Solutions plus emerging emerging Raviv Zoller CEO leadership.Yara International (YARIY)Norwegian-domiciled diversified fertilizer (Europe plus Brazil plus US plus emerging emerging emerging Asia) plus emerging emerging clean ammonia emerging plus emerging emerging Svein Tore Holsether CEO leadership.How institutional managers position around fertilizerThree patterns appear across smart-money 13Fs:Pattern 1: Diversified-leadership concentrationNTR-concentrated growth manager positions reflect Nutrien diversified fertilizer plus ag retail thesis.Pattern 2: Nitrogen-cost-advantage positioningCF-concentrated growth manager positions reflect US nitrogen cost advantage thesis.Pattern 3: Phosphate-recovery positioningMOS-concentrated value-discipline manager positions reflect phosphate cycle recovery thesis.How to read fertilizer 13F positioningThree rules apply:Rule 1: Identify segment exposureNitrogen vs phosphate vs potash vs ag retail have distinct dynamics.Rule 2: Watch fertilizer pricingMulti-year nitrogen-phosphate-potash pricing drives operator revenue.Rule 3: Cross-check Russia-Belarus dynamicsMulti-year sanctions plus emerging supply drive global fertilizer dynamics.What fertilizer positioning signalsDiversified-leadership conviction. Concentrated NTR positions signal diversified leadership thesis.Nitrogen conviction. Concentrated CF positions signal US nitrogen cost advantage thesis.Phosphate-recovery conviction. Concentrated MOS positions signal phosphate cycle thesis.For real-time tracking of fertilizer 13F activity, see the institutional signals feed.

## FAQ

### What are the major US-traded fertilizer companies?

Five major US-traded fertilizer: (1) Nutrien (NTR) — largest fertilizer plus largest ag retailer post-PotashCorp-Agrium merger; (2) CF Industries (CF) — pure-play nitrogen; (3) Mosaic (MOS) — phosphate plus potash; (4) ICL Group (ICL) — Israeli-domiciled specialty fertilizer plus bromine plus potash; (5) Yara International (YARIY) — Norwegian-domiciled global fertilizer. Plus K+S, OCI Holding, Phosagro.

### How does nitrogen-phosphate-potash dynamics work?

Nitrogen-phosphate-potash dynamics drives operator economics. Nitrogen (ammonia, urea, UAN) requires natural gas feedstock. Phosphate (DAP, MAP) requires phosphate rock. Potash requires potash mining. US Henry Hub natural gas pricing advantage drives CF Industries plus Nutrien Carseland nitrogen cost positioning. Multi-year nitrogen-phosphate-potash pricing cycle drives operator economics. Multi-year emerging nutrient deficiency in soils drives multi-year demand.

### How does natural gas feedstock affect nitrogen fertilizer?

Natural gas feedstock economics drives nitrogen fertilizer operator economics. Nitrogen fertilizer 70-80% production cost is natural gas plus US Henry Hub $2-4/MMBtu vs European TTF $8-12/MMBtu plus Asian LNG drives US nitrogen cost advantage. Multi-year European nitrogen plant curtailments (Yara, BASF, plus others) plus Russian sanctions drive operator positioning. Multi-year emerging US LNG export expansion drives multi-year emerging Henry Hub pricing dynamics.

### How do Russia-Belarus sanctions affect fertilizer?

Russia-Belarus supply dynamics drives multi-year fertilizer pricing. Russia plus Belarus combined potash production 35%+ global (pre-sanctions) plus Russia urea-DAP plus post-Ukraine war sanctions plus Belarus Lukashenko sanctions drive multi-year fertilizer supply dynamics. Multi-year Canada Nutrien plus Israel ICL plus Saudi Arabia Ma'aden compete. Multi-year emerging US-EU sanctions enforcement plus emerging price dynamics drive multi-year operator positioning.

### How does Nutrien's ag retail work?

Ag retail dynamics drives Nutrien operator economics. Nutrien Ag Solutions (largest ag retailer plus US, Canada, Australia, Brazil, Argentina) plus crop nutrients plus crop protection plus seeds plus precision ag services drive Nutrien revenue diversification. Multi-year emerging ag retail 60%+ of Nutrien revenue plus emerging emerging Nutrien Financial farmer financing plus emerging Loveland Products private-label brand drive multi-year operator scaling.

### What signals fertilizer cycle inflections?

Four signals: (1) nitrogen-phosphate-potash pricing plus emerging emerging Henry Hub dynamics; (2) Russia-Belarus supply plus emerging sanctions dynamics; (3) US farmer income plus emerging emerging USDA outlook; (4) M&A activity plus emerging strategic actions. Concentrated 13F changes around these signals reveal manager cycle reading.

---

Source: 13F Insight — https://13finsight.com/learn/fertilizer-13f-nutrien-cf-decoder
Author: Sarah Mitchell — https://13finsight.com/authors/sarah-mitchell
Last updated: 2026-05-16T17:05:40.076Z