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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 (2015Q3)
Portfolio Summary: 162 holdings with a total value of $243,830,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 COMMUNITY HEALTH SYS INC NEW 18,000 770,000 0.32%
102 NAVIENT 68,327 768,000 0.31%
103 MEDIVATION INC 17,800 757,000 0.31%
104 FREEPORT-MCMORAN INC 77,042 747,000 0.31%
105 WOLVERINE WORLD WIDE INC COM 29,400 636,000 0.26%
106 WALKER & DUNLOP INC COM 24,308 634,000 0.26%
107 TECH DATA CORP 9,257 634,000 0.26%
108 NEWMONT CORP 38,641 621,000 0.25%
109 GAMESTOP CORP NEW 14,800 610,000 0.25%
110 CASH AMER INTL 21,759 609,000 0.25%
111 CHEMTURA CORP 21,249 608,000 0.25%
112 MATSON INC COM 15,494 596,000 0.24%
113 ASSURED GUARANTY LTD COM 23,655 591,000 0.24%
114 MYLAN N V 14,681 591,000 0.24%
115 Alon USA Energy, Inc. 32,540 588,000 0.24%
116 UNIVERSAL CORP VA 11,825 586,000 0.24%
117 SMITH & WESSON HLDG 34,734 586,000 0.24%
118 NET 1 UEPS TECHNOLOGIES INC 34,923 585,000 0.24%
119 PENN ENTERTAINMENT INC COM 34,794 584,000 0.24%
120 Mueller Industries Inc 90,655 582,000 0.24%
121 ORTHOFIX INTL N V 17,207 581,000 0.24%
122 EBAY INC 23,508 575,000 0.24%
123 ARGO GROUP INTERNATIONAL 10,114 572,000 0.23%
124 Tribune Media Company 15,910 566,000 0.23%
125 GREEN DOT CORP CL A 32,116 565,000 0.23%
126 CRANE CO 12,100 564,000 0.23%
127 AVON PRODS INC 172,677 561,000 0.23%
128 Cincinnati Bell Inc 179,588 560,000 0.23%
129 ACCO BRANDS CORPORATION COM 78,440 555,000 0.23%
130 LYON WILLIAM HOMES CL A NEW 26,904 554,000 0.23%
131 VONAGE HLDGS CORP 94,273 554,000 0.23%
132 SUPERNUS PHARMACEUTICALS INC 39,110 549,000 0.23%
133 MURPHY OIL 22,700 549,000 0.23%
134 UNITED STATES CELLULAR CORP 15,502 549,000 0.23%
135 DEAN FOODS CO NEW 32,955 544,000 0.22%
136 HRG GROUP INC 46,337 544,000 0.22%
137 VistaPrint NV 7,106 541,000 0.22%
138 SANDERSON FARMS INC 7,588 520,000 0.21%
139 WESTLAKE CHEM CORP 10,000 519,000 0.21%
140 ENANTA PHARMACEUTICALS INC 14,223 514,000 0.21%
141 COLFAX CORP 16,300 488,000 0.20%
142 SYNOPSYS INC 14,993 486,000 0.20%
143 GENERAL CABLE CORP DEL NEW 39,735 473,000 0.19%
144 Mercer International 44,996 451,000 0.18%
145 LANNET INC COM NEW 10,780 448,000 0.18%
146 VOYA FINANCIAL INC 11,400 442,000 0.18%
147 ORACLE CORP 12,200 441,000 0.18%
148 NEWLINK GENETICS CORP COM 12,266 440,000 0.18%
149 ACORDA THERAPEUTICS INC 14,680 389,000 0.16%
150 TRAVELCENTERS AMER LLC 37,140 384,000 0.16%
Page 3 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001172661-15-001898, filed 2015.11.09).

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.