Several hedge funds initiated positions in CF during the first quarter including Anthony Bozza at Lakewood Capital Management and Michael Messner at Seminole Capital. Billionaire Jim Simons' Renaissance Technologies boosted its stake in CF by 62%. Simons' hedge fund has the second largest position in CF among the 400 hedge funds we are tracking (See Renaissance's biggest bets at Insider Monkey). Potash Corp of Saskatchewan ( POT): Potash Corp., which was previously featured on Insider Monkey, posted sluggish second-quarter earnings results on April 26. The company reported EPS of 56 cents, missing the consensus estimates by 8 cents. The company's revenue was down 20.8% year over year. Potash Corp. is the most expensive stock in the fertilizer space, trading at a forward P/E of 12.3. However, analysts believe this premium multiple is justified due to the company's exceptional growth profile. Potash Corp. is projected to grow EPS by 14% next year, giving the stock a 1.35 PEG ratio. Several hedge funds have initiated positions in Potash Corp. during the first quarter including Paul Tanico at Castlerock Asset Management and Michael Karsch at Karsch Capital Management. The company is scheduled to release second-quarter earnings after the bell on Thursday, July 26. Analysts expect a strong report with improved guidance on higher commodity and potash prices. Billionaires Richard Chilton, Steve Cohen and James Dinan are among the top five holders of Potash. Agrium ( AGU): Agrium shares hit a new 52-week high following a strong earnings report on July 18. Management raised its EPS guidance by 15%, citing robust demand for agricultural products. The impressive results sparked a series of upgrades and target price hikes by equity analysts. Agrium is one of the cheaper names in the industry. The stock trades with a forward P/E of 9.2. Hedge funds were actively building positions in Agrium during the first quarter including Wayne Cooperman's Cobalt Capital Management and Michael Messner's Seminole Capital. Value investor Joel Greenblatt and billionaire Israel Englander are among the hedge fund managers who initiated brand new positions in this stock. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.