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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 (2015Q4)
Portfolio Summary: 160 holdings with a total value of $245,633,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 HOWARD HUGHES CORP 5,640 638,000 0.26%
52 WADDELL & REED FINL INC 22,418 643,000 0.26%
53 NEWMONT CORP 39,503 711,000 0.29%
54 VIACOM INC NEW 17,513 721,000 0.29%
55 TIME WARNER INC 11,230 726,000 0.30%
56 SPIRIT AEROSYSTEMS HLDGS INC 14,872 745,000 0.30%
57 COLFAX CORP 31,981 747,000 0.30%
58 HEWLETT PACKARD ENTERPRISE C 49,839 758,000 0.31%
59 BROCADE COMMUNICATIONS SYS I 83,697 768,000 0.31%
60 NATIONAL OILWELL VARCO INC 23,012 771,000 0.31%
61 LAS VEGAS SANDS CORP 17,625 773,000 0.31%
62 TRINITY INDS INC 33,478 804,000 0.33%
63 HP INC 69,489 823,000 0.34%
64 PENTAIR PLC 16,645 825,000 0.34%
65 ALLEGHANY CORP 1,728 826,000 0.34%
66 OCEANEERING INTL INC 23,357 876,000 0.36%
67 UNITED CONTL HLDGS INC 15,477 887,000 0.36%
68 UNITED STATES CELLULAR CORP 22,202 906,000 0.37%
69 UNITED RENTALS INC 12,500 907,000 0.37%
70 OWENS CORNING NEW 19,548 919,000 0.37%
71 ALLERGAN PLC 3,000 938,000 0.38%
72 CA INC 33,000 942,000 0.38%
73 Arris Group Inc 30,900 945,000 0.38%
74 CSRA INC 31,721 952,000 0.39%
75 JACOBS ENGR GROUP INC 24,256 1,018,000 0.41%
76 VOYA FINANCIAL INC 29,113 1,075,000 0.44%
77 SEAGATE TECHNOLOGY PLC 30,508 1,119,000 0.46%
78 REGAL ENTMT GROUP 59,659 1,126,000 0.46%
79 NAVIENT 102,566 1,174,000 0.48%
80 TENNECO INC 25,941 1,191,000 0.48%
81 TWENTY FIRST CENTY FOX INC 44,895 1,219,000 0.50%
82 SPDR S&P 500 ETF TR 6,020 1,227,000 0.50%
83 BED BATH & BEYOND INC 25,767 1,243,000 0.51%
84 ECHOSTAR CORP CL A 33,060 1,293,000 0.53%
85 COMPUTER SCIENCES CORP 39,792 1,301,000 0.53%
86 EBAY INC 49,451 1,359,000 0.55%
87 GILEAD SCIENCES INC 14,480 1,466,000 0.60%
88 HARTFORD FINL SVCS GROUP INC 34,049 1,480,000 0.60%
89 LEUCADIA NATL CORP 91,098 1,584,000 0.64%
90 BRINKER INTL INC 33,361 1,600,000 0.65%
91 SYMANTEC CORP 77,958 1,637,000 0.67%
92 MORGAN STANLEY 51,547 1,640,000 0.67%
93 NUCOR CORP 43,394 1,749,000 0.71%
94 BEST BUY INC 57,613 1,754,000 0.71%
95 CORNING INC 98,086 1,793,000 0.73%
96 COMMUNITY HEALTH SYS INC NEW 67,674 1,796,000 0.73%
97 EVEREST RE GROUP LTD 10,166 1,861,000 0.76%
98 EXXON MOBIL CORP 24,259 1,891,000 0.77%
99 REINSURANCE GROUP AMER INC 22,128 1,893,000 0.77%
100 Tribune Media Company 56,057 1,895,000 0.77%
Page 2 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001172661-16-002342, filed 2016.01.27).

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.