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Institutional Investment Manager
GARGOYLE INVESTMENT ADVISOR L.L.C.
GARGOYLE INVESTMENT ADVISOR L.L.C. (CIK: 0001389974) incorporated in New York, located at 285 Grand Avenue, Englewood, NJ. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q2)
Portfolio Summary: 168 holdings with a total value of $262,330,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 HRG GROUP INC 48,683 633,000 0.24%
52 CYNOSURE CL A ORD 16,513 637,000 0.24%
53 INTERNATIONAL BUSINESS MACHS 3,924 638,000 0.24%
54 LANNET INC COM NEW 10,780 641,000 0.24%
55 REX AMERICAN RES CORP COM 10,173 647,000 0.25%
56 WALKER & DUNLOP INC COM 24,308 650,000 0.25%
57 JOY GLOBAL INCORPORATED 19,250 697,000 0.27%
58 MURPHY OIL 17,400 723,000 0.28%
59 NVIDIA CORPORATION 37,300 750,000 0.29%
60 AXIALL CORPORATION 20,820 751,000 0.29%
61 DELTA AIRLINES INC DEL 18,807 773,000 0.29%
62 AMERIPRISE FINANCIAL, INC. 29,308 775,000 0.30%
63 TEREX CORP NEW 34,200 795,000 0.30%
64 UNITED CONTL HLDGS INC 15,200 806,000 0.31%
65 ALLEGHANY CORP 1,728 810,000 0.31%
66 NCR CORP NEW 27,200 819,000 0.31%
67 MEDIVATION INC 7,200 822,000 0.31%
68 NEWMONT CORP 35,341 826,000 0.31%
69 WOLVERINE WORLD WIDE INC COM 29,400 837,000 0.32%
70 OASIS PETE INC NEW 52,807 837,000 0.32%
71 Tribune Media Company 15,910 849,000 0.32%
72 SM ENERGY CO 18,500 853,000 0.33%
73 UNITED RENTALS INC 10,000 876,000 0.33%
74 SPX CORP 12,121 877,000 0.33%
75 SUPERIOR ENERGY SVCS INC 41,943 882,000 0.34%
76 ALLERGAN PLC 3,000 910,000 0.35%
77 NAVIENT 50,200 914,000 0.35%
78 NATIONAL OILWELL VARCO INC 19,000 917,000 0.35%
79 LINN ENERGY LLC UNIT LTD LIAB 103,000 918,000 0.35%
80 MICHAEL KORS HLDGS LTD 22,000 926,000 0.35%
81 INTERPUBLIC GROUP COS INC 49,146 947,000 0.36%
82 HARTFORD FINL SVCS GROUP INC 23,000 956,000 0.36%
83 TIME WARNER INC 11,230 982,000 0.37%
84 Arris Group Inc 33,800 1,034,000 0.39%
85 AVON PRODS INC 172,677 1,081,000 0.41%
86 GILEAD SCIENCES INC 9,500 1,112,000 0.42%
87 COMMUNITY HEALTH SYS INC NEW 18,000 1,133,000 0.43%
88 HERBALIFE LTD 21,100 1,162,000 0.44%
89 OWENS CORNING NEW 30,100 1,242,000 0.47%
90 SEAGATE TECHNOLOGY PLC 30,076 1,429,000 0.54%
91 CABLEVISION SYS CORP(NEW) NY GROUP CL ACOM 65,400 1,566,000 0.60%
92 TRONOX LTD SHS CL A 121,313 1,775,000 0.68%
93 LAS VEGAS SANDS CORP 34,375 1,807,000 0.69%
94 SYMANTEC CORP 77,958 1,813,000 0.69%
95 MICRON TECHNOLOGY INC 96,703 1,821,000 0.69%
96 INTEL CORP 60,709 1,846,000 0.70%
97 JOHNSON & JOHNSON 19,125 1,864,000 0.71%
98 EMERSON ELEC CO 33,836 1,876,000 0.72%
99 NUCOR CORP 43,394 1,912,000 0.73%
100 WADDELL & REED FINL INC 40,484 1,915,000 0.73%
Page 2 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001085146-15-001717, filed 2015.08.12).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.