Who owns CF Industries Nitrogen, LLC (CFN)

CF Industries Nitrogen, LLC (CFN) - Profile

CF Industries Nitrogen, LLC is a Delaware limited liability company that manufactures nitrogen based products: ammonia, granular urea, urea ammonium nitrate solution and ammonium nitrate, together with diesel exhaust fluid, urea liquor, nitric acid and aqua ammonia. It holds the largest part of CF Industries' United States production base, with plants at Donaldsonville in Louisiana, Port Neal at Sergeant Bluff in Iowa and Yazoo City in Mississippi, plus two Oklahoma subsidiaries: Terra International (Oklahoma) LLC at Woodward and Terra Nitrogen, Limited Partnership, which runs the Verdigris complex at Claremore. The structure dates from December 2015, when CF Industries Sales contributed those production facilities and the farmer owned cooperative CHS Inc. paid 2.8 billion dollars for membership interests alongside long term supply agreements giving CHS the right to buy roughly 1.1 million tons of granular urea and 580 thousand tons of UAN a year at market prices.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• CF Industries Holdings, Inc.. Q2 2026 10-Q, Note 15 Noncontrolling Interests: 'We have a strategic venture with CHS Inc. (CHS) under which CHS owns an equity interest in CF Industries Nitrogen, LLC (CFN), a subsidiary of CF Holdings. CHS' equity interest represents approximately 10% of the membership interests of CFN. We own the remaining membership interests.' CFN is fully consolidated (CF is the majority member), and per this project's convention for a not-wholly-owned consolidated entity (Nucor-Yamato, Vulcan's Orca, Steel Dynamics' Aluminum Dynamics, FirstEnergy's FET), it is recorded here at CF's own percentage. FY2025 10-K Exhibit 21 lists CF Industries Nitrogen, LLC and CFN Holdings, LLC both at 88.6%, footnoted: 'Percentage for CF Industries Nitrogen, LLC (CFN) and its subsidiaries reflects the membership interests when the strategic venture commenced in February 2016.' That 88.6% is a fixed inception-date figure, not updated; the 10-Q's 'approximately 90%' is the current figure and is preferred here because under CFN's LLC agreement each member's interest shifts over time with CFN's profitability, member contributions and distributions. IMPORTANT: the noncontrolling interests balance for CFN (CHS's ~10% stake) was $2,654 million as of 30 Jun 2026 (10-Q Note 15 reconciliation table). That balance sizes CHS's minority interest, the ~10% CF does NOT own, and is explicitly NOT applied to CF's own ~90% stake here; CF's own carrying value for CFN is not separately disclosed, so value_usd is left null rather than backed into from the noncontrolling-interest figure. sourcesource 2