Entropy Technologies, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Entropy Technologies, LP reported 682 stock positions worth $1.0 billion. Its top holding was Equinix (EQIX) at 1.2% of the portfolio, followed by Salesforce (CRM, 1.2%) and Johnson & Johnson (JNJ, 1.2%). Compared with Q4 2024, it opened 350 new positions, sold out of 359, added to 183 and reduced 149. The biggest buy was a new position in Equinix (EQIX) and the biggest sale an exit from Bank of America (BAC).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001976151
- Portfolio Value
- $1.0B (Q1 2025)
- SEC Filing
- 0001976151-25-000020 ↗ filed May 12, 2025
Holdings Value
Holdings 682 stocks · $1.0B
| EQIX Equinix Inc. | 1.22% | 15,381 | $12.5M | New |
| CRM Salesforce Inc. | 1.22% | 46,604 | $12.5M | Add +334.9% |
| JNJ Johnson & Johnson | 1.22% | 75,371 | $12.5M | Add +919.6% |
| MRSH Marsh & McLennan Cos | 1.12% | 47,314 | $11.5M | Add +231.4% |
| PEP Pepsico Inc. | 1.09% | 74,464 | $11.2M | Add +1183.0% |
| MELI MercadoLibre Inc. | 1.06% | 5,597 | $10.9M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.06% | 110,187 | $10.9M | New |
| AVGO Broadcom Inc. | 1.04% | 63,546 | $10.6M | New |
| TRGP Targa Resources Corp. | 0.97% | 49,859 | $10.0M | Add +68.2% |
| META Meta Platforms Inc. Class A | 0.96% | 17,146 | $9.9M | New |
| PNC PNC Financial Services Group | 0.95% | 55,386 | $9.7M | Add +83.4% |
| BX Blackstone Inc. | 0.93% | 68,089 | $9.5M | Add +295.0% |
| QCOM Qualcomm Inc. | 0.87% | 57,846 | $8.9M | Add +197.3% |
| HD Home Depot Inc. | 0.81% | 22,608 | $8.3M | New |
| KGC Kinross Gold Corp. | 0.79% | 644,225 | $8.1M | Add +30.3% |
| WMT Walmart Inc. | 0.79% | 92,098 | $8.1M | New |
| GD General Dynamics Corp. | 0.78% | 29,479 | $8.0M | Add +16.9% |
| NVDA Nvidia Corp. | 0.77% | 72,841 | $7.9M | Reduce -21.2% |
| LMT Lockheed Martin Corp. | 0.77% | 17,626 | $7.9M | Add +410.2% |
| KHC The Kraft Heinz Co. | 0.76% | 255,988 | $7.8M | New |
| BA The Boeing Co. | 0.72% | 43,459 | $7.4M | Add +176.6% |
| AMAT Applied Materials Inc. | 0.72% | 51,018 | $7.4M | New |
| CAT Caterpillar Inc. | 0.71% | 22,173 | $7.3M | New |
| EXE Expand Energy Corp. | 0.66% | 61,061 | $6.8M | Add +1220.5% |
| CSX CSX Corp. | 0.65% | 225,397 | $6.6M | New |
| DHI D.R. Horton Inc. | 0.64% | 52,063 | $6.6M | Add +88.7% |
| UNH Unitedhealth Group Inc. | 0.64% | 12,616 | $6.6M | New |
| CMG Chipotle Mexican Grill Inc. | 0.62% | 126,719 | $6.4M | Add +1071.3% |
| ZTS Zoetis Inc. | 0.60% | 37,206 | $6.1M | New |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.60% | 6,200 | $6.1M | Add +226.3% |
| WM Waste Management Inc. | 0.58% | 25,802 | $6.0M | Reduce -14.2% |
| CCEP Coca-Cola Europacific Partne | 0.58% | 68,449 | $6.0M | New |
| COP Conocophillips | 0.58% | 56,409 | $5.9M | New |
| TEAM Atlassian Corp. Class A | 0.57% | 27,663 | $5.9M | Add +306.8% |
| REGN Regeneron Pharmaceuticals | 0.56% | 9,090 | $5.8M | Add +71.5% |
| DASH DoorDash Inc. Class A | 0.56% | 31,350 | $5.7M | Reduce -40.5% |
| ICE Intercontinental Exchange Inc. | 0.54% | 32,332 | $5.6M | Reduce -22.0% |
| SOFI Sofi Technologies Inc. | 0.54% | 473,935 | $5.5M | Add +42.1% |
| PLTR Palantir Technologies Inc. Class A | 0.52% | 63,440 | $5.4M | New |
| EIX Edison International | 0.52% | 90,539 | $5.3M | Add +43.9% |
| ROST Ross Stores Inc. | 0.52% | 41,466 | $5.3M | Add +28.0% |
| ADBE Adobe Inc. | 0.50% | 13,329 | $5.1M | Reduce -52.4% |
| LOW Lowe's Cos Inc. | 0.48% | 21,073 | $4.9M | Reduce -35.9% |
| GEV GE Vernova Inc. | 0.47% | 15,779 | $4.8M | Add +4.6% |
| KLAC KLA Corp. | 0.47% | 7,071 | $4.8M | Reduce -56.1% |
| TXN Texas Instruments Inc. | 0.47% | 26,670 | $4.8M | New |
| PFE Pfizer Inc. | 0.46% | 187,233 | $4.7M | Reduce -60.3% |
| KMB Kimberly-Clark Corp. | 0.46% | 33,032 | $4.7M | Add +1368.7% |
| EQT Eqt Corp. | 0.45% | 87,218 | $4.7M | Add +33.7% |
| UBS UBS Group AG-Reg | 0.45% | 149,362 | $4.6M | New |
| UAL United Airlines Holdings Inc. | 0.44% | 65,671 | $4.5M | Add +466.5% |
| CL Colgate-Palmolive Co. | 0.44% | 48,380 | $4.5M | Reduce -5.6% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.44% | 81,774 | $4.5M | Add +417.5% |
| PKG Packaging Corp. of America | 0.43% | 22,286 | $4.4M | Reduce -31.5% |
| PNR Pentair PLC | 0.43% | 50,396 | $4.4M | New |
| STZ Constellation Brands Inc. Class A | 0.43% | 24,003 | $4.4M | Reduce -13.8% |
| DHR Danaher Corp. | 0.42% | 21,247 | $4.4M | Reduce -61.1% |
| CPT Camden Property Trust | 0.42% | 35,536 | $4.3M | New |
| CVX Chevron Corp. | 0.42% | 25,762 | $4.3M | New |
| FERG Ferguson Enterprises Inc. | 0.42% | 26,833 | $4.3M | Reduce -5.3% |
| MRK Merck & Co. Inc. | 0.40% | 45,467 | $4.1M | Add +63.3% |
| HAL Halliburton Co. | 0.39% | 156,755 | $4.0M | Add +42.8% |
| AEP American Electric Power | 0.38% | 36,110 | $3.9M | New |
| MAS Masco Corp. | 0.38% | 56,738 | $3.9M | New |
| VLO Valero Energy Corp. | 0.37% | 29,141 | $3.8M | Add +360.1% |
| ADSK Autodesk Inc. | 0.37% | 14,466 | $3.8M | New |
| TSLA Tesla Inc. | 0.37% | 14,605 | $3.8M | Add +1.8% |
| MA Mastercard Inc. Class A | 0.37% | 6,881 | $3.8M | New |
| MSFT Microsoft Corp. | 0.37% | 9,996 | $3.8M | Add +3.5% |
| WEX Wex Inc. | 0.36% | 23,494 | $3.7M | Add +571.3% |
| TWLO Twilio Inc. Class A | 0.35% | 36,772 | $3.6M | Add +244.9% |
| OC Owens Corning | 0.35% | 25,114 | $3.6M | New |
| GE General Electric filed as GE AEROSPACE | 0.34% | 17,402 | $3.5M | New |
| FTNT Fortinet Inc. | 0.34% | 35,802 | $3.4M | New |
| GLW Corning Inc. | 0.33% | 74,798 | $3.4M | New |
| IQV Iqvia Holdings Inc. | 0.33% | 19,256 | $3.4M | Add +4.4% |
| COR Cencora Inc. | 0.33% | 12,152 | $3.4M | Add +60.7% |
| CRH CRH PLC | 0.33% | 38,006 | $3.3M | New |
| ZBRA Zebra Technologies Corp. Class A | 0.32% | 11,763 | $3.3M | Add +115.3% |
| SFM Sprouts Farmers Market Inc. | 0.32% | 21,549 | $3.3M | Add +37.0% |
| SYY Sysco Corp. | 0.32% | 43,802 | $3.3M | New |
| SHEL Shell PLC-ADR | 0.32% | 44,661 | $3.3M | Add +173.5% |
| BAH Booz Allen Hamilton Holdings | 0.31% | 30,841 | $3.2M | Add +216.8% |
| TECK Teck Resources Ltd.-CLS B | 0.31% | 87,891 | $3.2M | Add +1139.0% |
| NLY Annaly Capital Management Inc. | 0.31% | 157,585 | $3.2M | New |
| PFG Principal Financial Group | 0.31% | 37,793 | $3.2M | Add +51.1% |
| FNF Fidelity National Financial | 0.31% | 48,434 | $3.2M | Add +14.4% |
| AR Antero Resources Corp. | 0.31% | 77,883 | $3.1M | Add +42.4% |
| USB US Bancorp | 0.30% | 74,074 | $3.1M | Add +347.2% |
| AER Aercap Holdings NV | 0.30% | 30,358 | $3.1M | New |
| LDOS Leidos Holdings Inc. | 0.30% | 22,849 | $3.1M | New |
| RY Royal Bank of Canada | 0.30% | 27,306 | $3.1M | Add +110.5% |
| GOOGL Alphabet Inc. Class A | 0.30% | 19,878 | $3.1M | New |
| CNC Centene Corp. | 0.29% | 49,346 | $3.0M | Reduce -19.4% |
| AXP American Express Co. | 0.29% | 11,110 | $3.0M | New |
| EME Emcor Group Inc. | 0.29% | 7,988 | $3.0M | Add +31.1% |
| NET Cloudflare Inc. Class A | 0.29% | 26,044 | $2.9M | New |
| CVNA Carvana Co. | 0.28% | 13,677 | $2.9M | Add +253.7% |
| TFX Teleflex Inc. | 0.28% | 20,494 | $2.8M | Add +201.9% |
| CI The Cigna Group | 0.27% | 8,516 | $2.8M | New |
Portfolio Sells Q4 2024 → Q1 2025
| BAC Bank of America Corp. | Sold out | 0.00% | −1.19 |
| OXY Occidental Petroleum Corp. | Reduce -92.3% | 0.09% | −1.13 |
| DHR Danaher Corp. | Reduce -61.1% | 0.42% | −0.87 |
| CDW CDW Corp. | Sold out | 0.00% | −0.86 |
| PFE Pfizer Inc. | Reduce -60.3% | 0.46% | −0.83 |
| ADBE Adobe Inc. | Reduce -52.4% | 0.50% | −0.79 |
| B Barrick Gold Corp. | Sold out | 0.00% | −0.78 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.78 |
| LIN Linde PLC | Sold out | 0.00% | −0.72 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.67 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.66 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.66 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.65 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.65 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −0.63 |
| KLAC KLA Corp. | Reduce -56.1% | 0.47% | −0.58 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.54 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.53 |
| PGR Progressive Corp. | Sold out | 0.00% | −0.52 |
| VST Vistra Corp. | Sold out | 0.00% | −0.52 |
| NVDA Nvidia Corp. | Reduce -21.2% | 0.77% | −0.51 |
| SPG Simon Property Group Inc. | Sold out | 0.00% | −0.50 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.50 |
| NUE Nucor Corp. | Sold out | 0.00% | −0.49 |
| MDT Medtronic PLC | Reduce -91.9% | 0.04% | −0.48 |
| DOV Dover Corp. | Sold out | 0.00% | −0.48 |
| VIK Viking Holdings Ltd. | Sold out | 0.00% | −0.47 |
| INTC Intel Corp. | Reduce -76.6% | 0.15% | −0.45 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.44 |
| QRVO Qorvo Inc. | Sold out | 0.00% | −0.42 |
| MS Morgan Stanley | Sold out | 0.00% | −0.41 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.41 |
| VZ Verizon Communications Inc. | Sold out | 0.00% | −0.41 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −0.40 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.40 |
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −0.38 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.37 |
| FITB Fifth Third Bancorp | Reduce -52.6% | 0.26% | −0.36 |
| LOW Lowe's Cos Inc. | Reduce -35.9% | 0.48% | −0.36 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.35 |
| DASH DoorDash Inc. Class A | Reduce -40.5% | 0.56% | −0.35 |
| FTV Fortive Corp. | Sold out | 0.00% | −0.35 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.35 |
| PSA Public Storage | Sold out | 0.00% | −0.34 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −0.34 |
| PKG Packaging Corp. of America | Reduce -31.5% | 0.43% | −0.32 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.32 |
| BIIB Biogen Inc. | Reduce -49.7% | 0.23% | −0.31 |
| SO The Southern Co. | Sold out | 0.00% | −0.31 |
| WMB Williams Cos Inc. | Reduce -69.3% | 0.15% | −0.31 |
Portfolio Buys Q4 2024 → Q1 2025
| EQIX Equinix Inc. | New | 1.22% | +1.22 |
| JNJ Johnson & Johnson | Add +919.6% | 1.22% | +1.11 |
| MELI MercadoLibre Inc. | New | 1.06% | +1.06 |
| DIS The Walt Disney Co. | New | 1.06% | +1.06 |
| AVGO Broadcom Inc. | New | 1.04% | +1.04 |
| PEP Pepsico Inc. | Add +1183.0% | 1.09% | +1.00 |
| META Meta Platforms Inc. Class A | New | 0.96% | +0.96 |
| CRM Salesforce Inc. | Add +334.9% | 1.22% | +0.85 |
| MRSH Marsh & McLennan Cos | Add +231.4% | 1.12% | +0.81 |
| HD Home Depot Inc. | New | 0.81% | +0.81 |
| WMT Walmart Inc. | New | 0.79% | +0.79 |
| KHC The Kraft Heinz Co. | New | 0.76% | +0.76 |
| AMAT Applied Materials Inc. | New | 0.72% | +0.72 |
| CAT Caterpillar Inc. | New | 0.71% | +0.71 |
| CSX CSX Corp. | New | 0.65% | +0.65 |
| UNH Unitedhealth Group Inc. | New | 0.64% | +0.64 |
| BX Blackstone Inc. | Add +295.0% | 0.93% | +0.62 |
| EXE Expand Energy Corp. | Add +1220.5% | 0.66% | +0.61 |
| ZTS Zoetis Inc. | New | 0.60% | +0.60 |
| LMT Lockheed Martin Corp. | Add +410.2% | 0.77% | +0.59 |
| CCEP Coca-Cola Europacific Partne | New | 0.58% | +0.58 |
| COP Conocophillips | New | 0.58% | +0.58 |
| QCOM Qualcomm Inc. | Add +197.3% | 0.87% | +0.56 |
| CMG Chipotle Mexican Grill Inc. | Add +1071.3% | 0.62% | +0.55 |
| PLTR Palantir Technologies Inc. Class A | New | 0.52% | +0.52 |
| TXN Texas Instruments Inc. | New | 0.47% | +0.47 |
| UBS UBS Group AG-Reg | New | 0.45% | +0.45 |
| BA The Boeing Co. | Add +176.6% | 0.72% | +0.44 |
| PNR Pentair PLC | New | 0.43% | +0.43 |
| TRGP Targa Resources Corp. | Add +68.2% | 0.97% | +0.43 |
| KMB Kimberly-Clark Corp. | Add +1368.7% | 0.46% | +0.43 |
| CPT Camden Property Trust | New | 0.42% | +0.42 |
| CVX Chevron Corp. | New | 0.42% | +0.42 |
| TEAM Atlassian Corp. Class A | Add +306.8% | 0.57% | +0.40 |
| GWW WW Grainger Inc. | Add +226.3% | 0.60% | +0.39 |
| AEP American Electric Power | New | 0.38% | +0.38 |
| MAS Masco Corp. | New | 0.38% | +0.38 |
| ADSK Autodesk Inc. | New | 0.37% | +0.37 |
| MA Mastercard Inc. Class A | New | 0.37% | +0.37 |
| OC Owens Corning | New | 0.35% | +0.35 |
| PNC PNC Financial Services Group | Add +83.4% | 0.95% | +0.35 |
| GE General Electric | New | 0.34% | +0.34 |
| FTNT Fortinet Inc. | New | 0.34% | +0.34 |
| GLW Corning Inc. | New | 0.33% | +0.33 |
| UAL United Airlines Holdings Inc. | Add +466.5% | 0.44% | +0.33 |
| CRH CRH PLC | New | 0.33% | +0.33 |
| SYY Sysco Corp. | New | 0.32% | +0.32 |
| KGC Kinross Gold Corp. | Add +30.3% | 0.79% | +0.32 |
| NLY Annaly Capital Management Inc. | New | 0.31% | +0.31 |
| AER Aercap Holdings NV | New | 0.30% | +0.30 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 929 | $2.5B | NOC, MA, SHW, COP, WFC |
| Q1 2026 | 857 | $2.2B | LNG, BSX, COST, ABT, CL |
| Q4 2025 | 849 | $1.8B | PLTR, XOM, MU, NOW, NFLX |
| Q3 2025 | 784 | $1.3B | MU, CVX, V, WMT, KO |
| Q2 2025 | 749 | $1.3B | MA, QCOM, CRM, PFE, DIS |
| Q1 2025 | 682 | $1.0B | EQIX, CRM, JNJ, MRSH, PEP |
| Q4 2024 | 691 | $971.0M | DHR, PFE, ADBE, NVDA, OXY |
| Q3 2024 | 687 | $952.5M | MSFT, LRCX, FERG, TMO, SHW |
| Q2 2024 | 641 | $925.2M | CVS, COP, JNJ, CMS, COST |
| Q1 2024 | 696 | $938.0M | UNH, MU, PGR, EA, SBUX |