Entropy Technologies, LP

NEW YORK, NY · CIK 1976151 · 13F filing filed 2024-11-04

SEC-registered investment adviser since 2023 · limited partnership

Assets managed$2.2bn
Staff16 · 2 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $1.2bn gross assets
Form ADV · 2026-03-20SEC adviser record

Legal entityENTROPY TECHNOLOGIES, LP (US)

Kindhedge funds
Others nearbyNew York, NY

As an employer

Offices in1 country
Private fundshedge 1

US visa salary filings

Filings FY20253
Median salary offered$150,000
Middle half$150,000 – $187,500
Job titles2

Job title	Filings	Median	Range
Senior Operations AssociateNew York, NY	2	$150,000	$150,000 – $200,000
Research AnalystNew York, NY	1	$225,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: Entropy Technologies, LP.

$952.5m reported value +2.9% vs Q2 2024

687positions

9.9%in top 10

334 new 166 added 185 reduced 288 sold out vs Q2 2024

Holdings, Q3 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	29,272	$12.6m1.32%	1.32%	New
2	LAM RESEARCH CORP COM NEW LRCX	LRCX	15,420	$12.6m1.32%	1.32%	New
3	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	51,647	$10.3m1.08%	1.08%	New
4	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	16,519	$10.2m1.07%	1.07%	Added +8.7k	+8,693 111.1%
5	SHERWIN WILLIAMS CO COM SHW	SHW	22,649	$8.6m0.91%	0.91%	Added +21.2k	+21,205 1468.5%
6	ADOBE INC COM ADBE	ADBE	16,596	$8.6m0.90%	0.90%	Added +5.3k	+5,263 46.4%
7	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	30,548	$8.5m0.89%	0.89%	Added +27.5k	+27,482 896.4%
8	US BANCORP DEL COM NEW USB	USB	175,132	$8.0m0.84%	0.84%	Reduced -12.1k	-12,134 -6.5%
9	CVS HEALTH CORP COM CVS	CVS	121,840	$7.7m0.80%	0.80%	Reduced -48.1k	-48,106 -28.3%
10	APPLE INC COM AAPL	AAPL	31,639	$7.4m0.77%	0.77%	Reduced -15.2k	-15,230 -32.5%
11	WALMART INC COM WMT	WMT	89,965	$7.3m0.76%	0.76%	Reduced -9.1k	-9,119 -9.2%
12	VISA INC COM CL A V	V	26,397	$7.3m0.76%	0.76%	New
13	LOCKHEED MARTIN CORP COM LMT	LMT	11,864	$6.9m0.73%	0.73%	Reduced -6.9k	-6,926 -36.9%
14	PHILIP MORRIS INTL INC COM PM	PM	56,864	$6.9m0.72%	0.72%	Added +30.0k	+29,958 111.3%
15	BANK AMERICA CORP COM BAC	BAC	170,282	$6.8m0.71%	0.71%	Added +59.0k	+58,965 53.0%
16	CONSOLIDATED EDISON INC COM ED	ED	64,470	$6.7m0.70%	0.70%	Added +9.5k	+9,468 17.2%
17	DANAHER CORPORATION COM DHR	DHR	24,103	$6.7m0.70%	0.70%	New
18	UBER TECHNOLOGIES INC COM UBER	UBER	87,587	$6.6m0.69%	0.69%	New
19	ILLINOIS TOOL WKS INC COM ITW	ITW	24,742	$6.5m0.68%	0.68%	Reduced -16.5k	-16,519 -40.0%
20	SCHWAB CHARLES CORP COM SCHW	SCHW	95,201	$6.2m0.65%	0.65%	Added +46.7k	+46,740 96.5%
21	DTE ENERGY CO COM DTE	DTE	45,182	$5.8m0.61%	0.61%	Added +4.4k	+4,441 10.9%
22	TE CONNECTIVITY PLC ORD SHS TEL	TEL	38,295	$5.8m0.61%	0.61%	New
23	OVINTIV INC COM OVV	OVV	149,457	$5.7m0.60%	0.60%	Added +113.9k	+113,866 319.9%
24	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	110,022	$5.7m0.60%	0.60%	Reduced -26.1k	-26,086 -19.2%
25	TARGA RES CORP COM TRGP	TRGP	38,425	$5.7m0.60%	0.60%	Added +16.8k	+16,836 78.0%
26	COLGATE PALMOLIVE CO COM CL	CL	54,313	$5.6m0.59%	0.59%	New
27	QUALCOMM INC COM QCOM	QCOM	33,154	$5.6m0.59%	0.59%	New
28	MERCADOLIBRE INC COM MELI	MELI	2,728	$5.6m0.59%	0.59%	New
29	3M CO COM MMM	MMM	39,614	$5.4m0.57%	0.57%	Reduced -28.2k	-28,183 -41.6%
30	EATON CORP PLC SHS ETN	ETN	16,018	$5.3m0.56%	0.56%	Added +6.5k	+6,456 67.5%
31	EQUINIX INC COM EQIX	EQIX	5,900	$5.2m0.55%	0.55%	Added +2.8k	+2,797 90.1%
32	FORTIVE CORP COM FTV	FTV	65,506	$5.2m0.54%	0.54%	New
33	NORTHROP GRUMMAN CORP COM NOC	NOC	9,580	$5.1m0.53%	0.53%	New
34	APPLOVIN CORP COM CL A APP	APP	38,676	$5.0m0.53%	0.53%	Added +14.6k	+14,567 60.4%
35	KELLANOVA COM K	K	62,296	$5.0m0.53%	0.53%	Added +27.7k	+27,692 80.0%
36	PROGRESSIVE CORP COM PGR	PGR	19,665	$5.0m0.52%	0.52%	Reduced -10.2k	-10,207 -34.2%
37	AMERICAN TOWER CORP NEW COM AMT	AMT	20,837	$4.8m0.51%	0.51%	New
38	VISTRA CORP COM VST	VST	40,578	$4.8m0.51%	0.51%	Added +6.4k	+6,353 18.6%
39	OCCIDENTAL PETE CORP COM OXY	OXY	92,504	$4.8m0.50%	0.50%	Added +4.5k	+4,501 5.1%
40	CANADIAN NAT RES LTD COM CNQ	CNQ	141,579	$4.7m0.49%	0.49%	New
41	HESS CORP COM HES	HES	34,571	$4.7m0.49%	0.49%	New
42	PARKER-HANNIFIN CORP COM PH	PH	7,416	$4.7m0.49%	0.49%	Added +2.1k	+2,131 40.3%
43	HUMANA INC COM HUM	HUM	14,767	$4.7m0.49%	0.49%	New
44	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	28,678	$4.6m0.48%	0.48%	New
45	COCA-COLA EUROPACIFIC PARTNE SHS CCEP	CCEP	58,368	$4.6m0.48%	0.48%	New
46	FREEPORT-MCMORAN INC CL B FCX	FCX	91,578	$4.6m0.48%	0.48%	Added +38.0k	+38,038 71.0%
47	AVERY DENNISON CORP COM AVY	AVY	20,568	$4.5m0.48%	0.48%	Added +11.5k	+11,530 127.6%
48	MERCK & CO INC COM MRK	MRK	39,839	$4.5m0.47%	0.47%	Added +30.4k	+30,398 322.0%
49	NXP SEMICONDUCTORS N V COM NXPI	NXPI	18,400	$4.4m0.46%	0.46%	New
50	ROBLOX CORP CL A RBLX	RBLX	99,649	$4.4m0.46%	0.46%	Added +62.5k	+62,521 168.4%
51	COCA COLA CO COM KO	KO	60,006	$4.3m0.45%	0.45%	Added +36.0k	+36,029 150.3%
52	SBA COMMUNICATIONS CORP NEW CL A SBAC	SBAC	17,824	$4.3m0.45%	0.45%	Added +707	+707 4.1%
53	AMERICAN INTL GROUP INC COM NEW AIG	AIG	56,288	$4.1m0.43%	0.43%	Added +30.6k	+30,632 119.4%
54	CARVANA CO CL A CVNA	CVNA	23,541	$4.1m0.43%	0.43%	Added +19.1k	+19,087 428.5%
55	TRANE TECHNOLOGIES PLC SHS TT	TT	10,538	$4.1m0.43%	0.43%	Added +2.6k	+2,595 32.7%
56	HARTFORD INSURANCE GROUP INC COM HIG	HIG	34,385	$4.0m0.42%	0.42%	New
57	BECTON DICKINSON & CO COM BDX	BDX	16,705	$4.0m0.42%	0.42%	Added +9.9k	+9,893 145.2%
58	ULTA BEAUTY INC COM ULTA	ULTA	10,320	$4.0m0.42%	0.42%	Added +191	+191 1.9%
59	DARDEN RESTAURANTS INC COM DRI	DRI	24,428	$4.0m0.42%	0.42%	Reduced -4.7k	-4,708 -16.2%
60	VEEVA SYS INC CL A COM VEEV	VEEV	19,044	$4.0m0.42%	0.42%	Added +5.5k	+5,492 40.5%
61	AT&T INC COM T	T	180,600	$4.0m0.42%	0.42%	Added +93.4k	+93,392 107.1%
62	NVR INC COM NVR	NVR	382	$3.7m0.39%	0.39%	Added +100	+100 35.5%
63	NVIDIA CORPORATION COM NVDA	NVDA	30,600	$3.7m0.39%	0.39%	Reduced -50.0k	-50,032 -62.0%
64	WEYERHAEUSER CO MTN BE COM NEW WY	WY	109,745	$3.7m0.39%	0.39%	Added +67.9k	+67,897 162.2%
65	BARRICK GOLD CORP COM COM		186,586	$3.7m0.39%	0.39%	New
66	HALLIBURTON CO COM HAL	HAL	124,983	$3.6m0.38%	0.38%	Added +76.5k	+76,458 157.6%
67	INTEL CORP COM INTC	INTC	154,489	$3.6m0.38%	0.38%	New
68	VULCAN MATLS CO COM VMC	VMC	14,292	$3.6m0.38%	0.38%	Reduced -651	-651 -4.4%
69	FORTINET INC COM FTNT	FTNT	45,781	$3.6m0.37%	0.37%	New
70	YUM BRANDS INC COM YUM	YUM	25,353	$3.5m0.37%	0.37%	Reduced -6.9k	-6,856 -21.3%
71	UNION PAC CORP COM UNP	UNP	14,359	$3.5m0.37%	0.37%	New
72	LINDE PLC SHS LIN	LIN	7,300	$3.5m0.37%	0.37%	New
73	DEXCOM INC COM DXCM	DXCM	51,914	$3.5m0.37%	0.37%	New
74	CENOVUS ENERGY INC COM CVE	CVE	207,542	$3.5m0.36%	0.36%	New
75	TJX COS INC NEW COM TJX	TJX	29,473	$3.5m0.36%	0.36%	Added +14.9k	+14,870 101.8%
76	IRON MTN INC DEL COM IRM	IRM	28,542	$3.4m0.36%	0.36%	Added +20.8k	+20,846 270.9%
77	ELI LILLY & CO COM LLY	LLY	3,812	$3.4m0.35%	0.35%	Reduced -224	-224 -5.5%
78	CHENIERE ENERGY INC COM NEW LNG	LNG	18,668	$3.4m0.35%	0.35%	Added +4.2k	+4,212 29.1%
79	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	21,074	$3.3m0.35%	0.35%	New
80	ATLASSIAN CORPORATION CL A TEAM	TEAM	20,511	$3.3m0.34%	0.34%	Reduced -4.7k	-4,721 -18.7%
81	EDISON INTL COM EIX	EIX	37,027	$3.2m0.34%	0.34%	Added +29.7k	+29,674 403.6%
82	CITIZENS FINL GROUP INC COM CFG	CFG	78,136	$3.2m0.34%	0.34%	Added +38.0k	+38,024 94.8%
83	VERTIV HOLDINGS CO COM CL A VRT	VRT	31,839	$3.2m0.33%	0.33%	Added +9.5k	+9,479 42.4%
84	UNITY SOFTWARE INC COM U	U	137,737	$3.1m0.33%	0.33%	Reduced -4.5k	-4,495 -3.2%
85	AGILENT TECHNOLOGIES INC COM A	A	20,975	$3.1m0.33%	0.33%	New
86	WORKDAY INC CL A WDAY	WDAY	12,705	$3.1m0.33%	0.33%	Reduced -14.8k	-14,846 -53.9%
87	CMS ENERGY CORP COM CMS	CMS	43,453	$3.1m0.32%	0.32%	Reduced -124.4k	-124,405 -74.1%
88	S&P GLOBAL INC COM SPGI	SPGI	5,915	$3.1m0.32%	0.32%	New
89	VENTAS INC COM VTR	VTR	47,582	$3.1m0.32%	0.32%	Added +17.8k	+17,754 59.5%
90	DECKERS OUTDOOR CORP COM DECK	DECK	18,449	$2.9m0.31%	0.31%	Reduced -295	-295 -1.6%
91	UNITED PARCEL SERVICE INC CL B UPS	UPS	21,574	$2.9m0.31%	0.31%	New
92	ELECTRONIC ARTS INC COM EA	EA	20,231	$2.9m0.30%	0.30%	New
93	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	6,266	$2.9m0.30%	0.30%	Reduced -18.2k	-18,218 -74.4%
94	AIRBNB INC COM CL A ABNB	ABNB	22,734	$2.9m0.30%	0.30%	New
95	ARISTA NETWORKS INC COM COM		7,343	$2.8m0.30%	0.30%	Reduced -3.8k	-3,816 -34.2%
96	WEC ENERGY GROUP INC COM WEC	WEC	29,186	$2.8m0.29%	0.29%	Added +8.6k	+8,627 42.0%
97	MOODYS CORP COM MCO	MCO	5,884	$2.8m0.29%	0.29%	New
98	MSCI INC COM MSCI	MSCI	4,790	$2.8m0.29%	0.29%	Added +1.6k	+1,602 50.2%
99	HUBSPOT INC COM HUBS	HUBS	5,250	$2.8m0.29%	0.29%	New
100	COSTAR GROUP INC COM CSGP	CSGP	36,761	$2.8m0.29%	0.29%	Reduced -985	-985 -2.6%

Sold out since Q2 2024

Security	Ticker	Shares held before	Value then
JOHNSON & JOHNSON JNJ	JNJ	68,527	$10.0m68.5k shares
COSTCO WHSL CORP NEW COST	COST	11,734	$10.0m11.7k shares
AMAZON COM INC AMZN	AMZN	51,521	$10.0m51.5k shares
CROWDSTRIKE HLDGS INC CRWD	CRWD	25,911	$9.9m25.9k shares
BROADCOM INC AVGO	AVGO	59,520	$9.6m59.5k shares
ELEVANCE HEALTH INC ELV	ELV	15,947	$8.6m15.9k shares
PG&E CORP PCG	PCG	440,195	$7.7m440.2k shares
KLA CORP KLAC	KLAC	9,112	$7.5m9.1k shares
ROSS STORES INC ROST	ROST	46,840	$6.8m46.8k shares
VERTEX PHARMACEUTICALS INC VRTX	VRTX	13,475	$6.3m13.5k shares
FERGUSON PLC NEW FERG1GBX	FERG1GBX	31,067	$6.0m31.1k shares
GILEAD SCIENCES INC GILD	GILD	84,317	$5.8m84.3k shares
CISCO SYS INC CSCO	CSCO	107,804	$5.1m107.8k shares
MONSTER BEVERAGE CORP NEW MNST	MNST	100,733	$5.0m100.7k shares
TE CONNECTIVITY LTD TEL1USD	TEL1USD	33,016	$5.0m33.0k shares
ROPER TECHNOLOGIES INC ROP	ROP	8,318	$4.7m8.3k shares
GALLAGHER ARTHUR J & CO AJG	AJG	16,818	$4.4m16.8k shares
LOWES COS INC LOW	LOW	19,042	$4.2m19.0k shares
STARBUCKS CORP SBUX	SBUX	52,547	$4.1m52.5k shares
EQUITY LIFESTYLE PPTYS INC ELS	ELS	62,698	$4.1m62.7k shares
SYSCO CORP SYY	SYY	56,649	$4.0m56.6k shares
MARRIOTT INTL INC NEW MAR	MAR	16,651	$4.0m16.7k shares
KINDER MORGAN INC DEL KMI	KMI	187,950	$3.7m187.9k shares
KEURIG DR PEPPER INC KDP	KDP	109,859	$3.7m109.9k shares
PRUDENTIAL FINL INC PRU	PRU	30,779	$3.6m30.8k shares