Exploring ICL Group Ltd (ICL) Investor Profile: Who’s Buying and Why?

You're looking at ICL Group Ltd (ICL) and wondering why the stock is moving, especially after they just reported Q3 2025 consolidated sales of $1.9 billion and announced the exit from the Lithium Iron Phosphate (LFP) cathode projects this November. It's a complex mix of commodity bedrock and specialty growth, so you need to look past the headlines and see who is actually buying. The truth is, the investor base is highly concentrated: Israel Corporation Ltd. holds a massive 44% of the shares, but big institutional players like The Vanguard Group, Inc. are also in the mix, holding about 2.2% of the company stock. This is a story about a global specialty minerals company that is doubling down on its core, aiming for specialties-driven EBITDA of between $0.95 billion to $1.15 billion for the full year 2025, which is a clear signal to the market. So, is the recent 15.4% share price dip a buying opportunity, or is the market right to be cautious about the shift in strategy? Let's break down the shareholder structure and the financial engine driving this stock.

Who Invests in ICL Group Ltd (ICL) and Why?

If you're looking at ICL Group Ltd (ICL), you're not alone; the investor base is a fascinating mix of government-linked entities, global passive giants, and a large slice of individual investors. The direct takeaway is that ICL's ownership structure is heavily influenced by a single public company, but the investment thesis for the rest of the market revolves around its shift to high-margin specialty minerals and a solid dividend payout.

As of late 2025, the ownership breakdown is quite distinct. Public companies hold the largest stake at a significant 44% of shares outstanding, with Israel Corporation Ltd. being the single largest shareholder. This kind of anchor ownership implies a long-term, strategic focus that can sometimes smooth out short-term market volatility. Still, individual investors-the retail crowd-make up a substantial 34%, which is a higher percentage than you see in many large-cap peers. Institutional investors, including mutual funds and asset managers, hold a respectable stake, which is defintely a nod to the company's credibility.

• Public Companies (Strategic/Government-linked): 44%
• Individual (Retail) Investors: 34%
• Institutional Investors (Funds, Asset Managers): The remainder, including major players like The Vanguard Group, Inc. and BlackRock, Inc.

Investment Motivations: Specialty Growth and Reliable Income

The core attraction to ICL Group Ltd is its dual narrative: a stable commodity business funding a high-growth pivot to specialty products. Investors are drawn to the company's position as a leading global specialty minerals company, which is crucial for solving sustainability challenges in the food and agriculture markets.

The financial results from the 2025 fiscal year clearly show this shift. Management expects specialties-driven EBITDA for the full year 2025 to land between $0.95 billion and $1.15 billion. That's a clear growth story. Plus, the company's commitment to returning capital is a huge draw for income-focused investors; for instance, the Board declared a Q3 2025 dividend of 4.80 cents per share, totaling approximately $62 million. Honestly, a company that pays you while it grows is a great combination.

Here's the quick math on the 2025 financial health, which is a major motivator:

For a deeper dive into these numbers, you should check out Breaking Down ICL Group Ltd (ICL) Financial Health: Key Insights for Investors.

Investment Strategies: The Value-Growth Hybrid

You see a few distinct strategies at play among ICL Group Ltd's shareholders. The presence of massive index funds like The Vanguard Group, Inc. means a significant portion of the stock is held by long-term passive investors who are simply tracking major global indices. They are in it for the long haul, buying the market, not the stock.

On the other hand, you have active institutional managers, like those who were both buying and selling in the second quarter of 2025. These are the cyclical traders and value investors. They are actively managing their positions based on the commodity prices of potash and phosphate, looking to buy low when prices dip and sell high when the cycle peaks. The company's diversification into Growing Solutions and Industrial Products, however, makes it a more resilient value-growth hybrid play than a pure commodity stock. While ICL is generally not owned by traditional hedge funds, sophisticated asset managers are actively adjusting their holdings, with some increasing their stakes by millions of shares in a single quarter. This shows a clear tactical approach to playing the agriculture and industrial market cycles.

The retail investors, making up 34%, often employ a long-term holding strategy focused on the dividend yield and the compelling macro story of global food security and specialty materials. They appreciate the clear, tangible nature of ICL's business: minerals for food and industry. That's a simple, powerful story.

Finance: Review the latest Q4 2025 guidance once released to confirm the specialties-driven EBITDA range is on track.

Institutional Ownership and Major Shareholders of ICL Group Ltd (ICL)

You want to know who is really calling the shots at ICL Group Ltd (ICL) and why they are buying or selling now. The direct takeaway is that while institutional money holds a significant, growing stake, the company's ownership structure is dominated by a single public entity, Israel Corporation Ltd., which holds a powerful 44% of the shares outstanding as of November 2025. This means a lot of the strategic direction is set at the top, but the collective institutional voice is still a critical factor in valuation and market confidence.

The total institutional ownership in ICL Group Ltd. (ICL) stood at around 14.3% as of the end of the second quarter of 2025, representing a collective holding of 184.41 million shares. That's a lot of capital tied up in specialty minerals and agriculture. This concentration of ownership is something you defintely need to factor into your risk model, especially when considering the influence of non-traditional institutional holders like sovereign wealth or large public entities.

Top Institutional Investors and Their Stakes

When you look past the largest single shareholder, Israel Corporation Ltd., you find the usual suspects from the global asset management community, plus some key domestic Israeli investment houses. These firms hold ICL for its exposure to global sustainability trends-think specialty fertilizers and essential industrial materials-which is a solid, long-term thesis.

Here is a snapshot of the top institutional holders from the most recent filings for the quarter ending June 2025, which gives you a clear picture of who is committed to the stock:

Notice that the top five are a mix of US index giants like Vanguard and powerful Israeli financial institutions. BlackRock, Inc., a firm I know well, holds a substantial position, often through its index funds, which means a portion of this ownership is passive, tracking the underlying benchmark.

Recent Shifts: Who's Buying and Selling?

The institutional picture is not static; it's a constant churn of capital re-allocating based on near-term forecasts. Overall, institutional investors have been net accumulators, with the collective institutional share volume increasing by 1.74% quarter-on-quarter through June 2025. This signals a measured confidence in ICL's strategic direction and its core businesses.

But the money is moving. In the second quarter of 2025 alone, we saw significant action:

• Major buyers included ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, which added 2.56 million shares, and Assenagon Asset Management S.A., adding 1.96 million shares.
• Big sellers were led by Clal Insurance Enterprises Holdings Ltd, which trimmed its stake by 2.79 million shares, and GOLDMAN SACHS GROUP INC, selling 1.70 million shares.

Here's the quick math: The net buying suggests that for every dollar sold by a domestic insurer taking profits or rebalancing, a global quantitative fund or large asset manager is stepping in to buy the dip or increase its exposure to the specialty chemicals segment. It's a healthy rotation, really.

Impact on Stock Price and Corporate Strategy

Large institutional holders play a crucial role beyond just trading volume; they influence the company's strategic roadmap. ICL's recent strategic pivots, announced with the Q3 2025 results in November 2025, directly reflect the priorities of these large, long-term holders.

The institutional focus is clearly on the higher-margin, specialties-driven businesses. This investor pressure is what drove the company to announce three new strategic principles in Q3 2025, including:

• Renewed focus on profitable growth in Specialty Crop Nutrition and Specialty Food Solutions.
• Maximizing the core mineral businesses-potash, phosphate, and bromine.
• A definitive move toward portfolio optimization and cost efficiency across the board.

A concrete example of this strategic alignment is the decision to discontinue certain battery material projects, specifically the Lithium Iron Phosphate (LFP) cathode active material activities, which was announced in November 2025. That was a clear signal to the market that ICL is cutting non-core, capital-intensive projects that weren't meeting return hurdles, which is exactly what institutional investors want to see. This pivot helps ICL focus on its core strengths and sustainability-aligned businesses, as detailed in their Mission Statement, Vision, & Core Values of ICL Group Ltd (ICL).

When institutions move in size, it can absolutely affect the stock price-a large block trade can create volatility-but their primary influence is on governance and capital allocation. They demand clarity and execution, and ICL's Q3 2025 results, with consolidated sales of $1.9 billion and adjusted EBITDA of $398 million, show they are delivering on those demands. The next step for you is to monitor the Q4 2025 13F filings to see if the net accumulation trend continued after the strategic shift was announced.

Key Investors and Their Impact on ICL Group Ltd (ICL)

The investor profile for ICL Group Ltd (ICL) is a clear story of dual control: a single, dominant strategic owner alongside a strong, active contingent of global and Israeli institutional funds. Your investment decision must account for the outsized influence of the largest shareholder, Israel Corporation Ltd., which holds a commanding 44% stake in the company as of November 2025, effectively giving them veto power over major strategic shifts and board appointments.

This structure means ICL Group Ltd's (ICL) stock movements are less about activist campaigns and more about the long-term strategic alignment between the controlling shareholder and the company's executive management. The remaining 56% of shares are split between institutional investors, which hold a collective stake of around 14.3% (as of June 2025), and individual retail investors, who own about 34%.

Notable Investors and Their Stature

Beyond the controlling interest, the institutional base is led by some of the world's largest asset managers and prominent Israeli investment houses, which is defintely a sign of credibility in the global investment community. The largest institutional holders as of the June 30, 2025, 13F filings include:

• Vanguard Group Inc.: The largest institutional holder with 28.23 million shares, representing about 2.2% of the company.
• Meitav Investment House Ltd.: A significant Israeli player, holding 28.16 million shares.
• Phoenix Financial Ltd. and Y.D. More Investments Ltd.: Other key Israeli funds with stakes of 18.81 million and 17.67 million shares, respectively.
• BlackRock, Inc.: The world's largest asset manager holds a passive stake of approximately 4.95 million shares as of September 30, 2025.

The presence of these major funds, like Vanguard Group Inc. and BlackRock, Inc., mostly reflects passive index-tracking strategies, but their sheer size provides a floor of demand and liquidity for the stock. They are the market's quiet giants.

Investor Influence and Strategic Direction

The 44% ownership by Israel Corporation Ltd. means they are the primary driver of high-level corporate governance. They can easily influence the election of the board of directors and vote on key matters, such as the approval of executive compensation, which shareholders voted on at the Extraordinary General Meeting in March 2025.

The top two shareholders together own 50% of the business, so any decision to change the company's strategy or capital structure requires their alignment. While institutional investors collectively hold a smaller, non-controlling stake, their influence is felt in other ways. They provide crucial liquidity and their collective buying or selling pressure can significantly impact the stock price, especially given the total institutional holdings were valued at over $1.029 billion as of September 2025.

Recent Notable Investor Moves

The second and third quarters of the 2025 fiscal year saw some sharp movements among the institutional base, signaling a reassessment of ICL Group Ltd's (ICL) value proposition. Here's the quick math: with the stock trading around $5.39 per share in November 2025, these shifts represent millions of dollars in capital reallocation.

A notable recent move was the strategic decision by ICL Group Ltd. to discontinue its planned Lithium Iron Phosphate (LFP) battery material projects in the US and Spain in November 2025. This move, which followed the withdrawal of US Department of Energy funding, was a clear response to changing market dynamics and investor concerns about high-capital, non-core ventures. The shift refocuses the investment narrative squarely on the core specialty businesses-Industrial Products, Phosphate Solutions, and Growing Solutions.

Looking at the Q3 2025 13F filings (ending September 30, 2025), two moves stand out:

• Significant Buying: Altshuler Shaham Ltd. dramatically increased its position by over 855%, adding nearly 12 million shares to hold 13.4 million shares.
• Notable Selling: Clal Insurance Enterprises Holdings Ltd. reduced its stake by 8.9%, selling 1.34 million shares. Arrowstreet Capital, Limited Partnership also trimmed its position by 24.18%, offloading 2.42 million shares.

These moves show a divergence of opinion: some funds are doubling down on the core specialty chemicals and potash business, while others are taking profits or reducing exposure following the strategic pivot away from battery materials. For a deeper dive into the underlying financials driving these investor decisions, you can check out Breaking Down ICL Group Ltd (ICL) Financial Health: Key Insights for Investors.

Market Impact and Investor Sentiment

If you're looking at ICL Group Ltd (ICL) right now, the investor sentiment is best described as a Cautious Hold, a neutral stance that masks some serious underlying shifts. The market is weighing the resilience of its core specialty businesses against the recent, high-profile retreat from its battery materials ambitions. Honestly, the consensus among analysts is a firm Hold, with four out of four Wall Street analysts maintaining that rating.

The biggest shareholders-public companies, led by Israel Corporation Ltd's massive 44% stake-are essentially long-term, strategic holders, which provides a stabilizing floor but also limits free float and major institutional influence. Institutional investors, including names like BlackRock, Inc. and The Vanguard Group, Inc., collectively hold a respectable stake, around 14.3% of outstanding shares as of June 2025. This mix tells you that while the stock is on the radar of major funds, the company's fate is heavily influenced by its largest corporate owner.

• Largest Owner: Israel Corporation Ltd, holding 44%.
• Institutional Stake: Approximately 14.3% of shares.
• Analyst Consensus: Hold rating across the board.

Recent Market Reactions to Strategic Shifts

The stock's recent price action clearly shows how investors react to changes in the growth narrative. While the share price had climbed nearly 30% over the year leading up to November 2025, reaching $5.70 per share, the last month saw a sharp 15.4% dip. This drop was a direct market response to ICL Group Ltd's decision to discontinue its planned Lithium Iron Phosphate (LFP) cathode material projects in the U.S. and Spain.

The market views this as removing a key anticipated growth catalyst-the big, sexy diversification into the electric vehicle supply chain. To be fair, the company pulled the plug after losing key U.S. Department of Energy funding and facing softer demand forecasts in the EV sector. What this estimate hides is that the core business is still performing well; the Q3 2025 earnings reported consolidated sales of $1.9 billion, a $100 million increase from the previous year, driven by the specialty segments. The market is punishing the lost future potential, but the present is solid.

Analyst Perspectives on Key Investor Impact

The key investors and their actions heavily influence the analyst community's outlook. The core investment thesis has now reverted to ICL Group Ltd's established strengths: specialty minerals and chemicals. Analysts are now focusing on the company's ability to generate cash flow and grow through its specialty products, like its Performance Products and Industrial Products segments.

Here's the quick math: The average 12-month price target from analysts is $6.23, with a high of $6.50 and a low of $6.00. This suggests an upside of about 15.58% from recent trading prices, which indicates that while they aren't screaming 'Buy,' they defintely see value. The company's own guidance for 2025 specialties-driven EBITDA is strong, anticipated to be between $0.95 billion and $1.15 billion. This operational stability is what keeps the large institutional holders like Vanguard and BlackRock in their positions, even as the stock price fluctuates on strategic news.

For a deeper dive into the numbers that support this core stability, you should read Breaking Down ICL Group Ltd (ICL) Financial Health: Key Insights for Investors.

The bottom line is that the largest investors are buying into the core business's cash generation, not the failed diversification effort. The recent dividend declaration of $0.048 per share in November 2025, totaling about $62 million, reinforces the focus on returning value from the stable, existing operations. Your action now should be to monitor the potash and specialty phosphate markets, as their pricing will be the primary driver of ICL Group Ltd's near-term performance.