Dark
Light
System
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
101 NATIONAL OILWELL VARCO INC 23,012 771,000 0.31%
102 BROCADE COMMUNICATIONS SYS I 83,697 768,000 0.31%
103 HEWLETT PACKARD ENTERPRISE C 49,839 758,000 0.31%
104 COLFAX CORP 31,981 747,000 0.30%
105 SPIRIT AEROSYSTEMS HLDGS INC 14,872 745,000 0.30%
106 TIME WARNER INC 11,230 726,000 0.30%
107 VIACOM INC NEW 17,513 721,000 0.29%
108 NEWMONT CORP 39,503 711,000 0.29%
109 WADDELL & REED FINL INC 22,418 643,000 0.26%
110 HOWARD HUGHES CORP 5,640 638,000 0.26%
111 STAPLES INC 64,895 615,000 0.25%
112 MOSAIC CO NEW 21,594 596,000 0.24%
113 SANDERSON FARMS INC 7,588 588,000 0.24%
114 ALTISOURCE PORTFOLIO SOLNS S 21,039 585,000 0.24%
115 CAESARS ENTERTAINMENT 72,624 573,000 0.23%
116 DEAN FOODS CO NEW 32,955 565,000 0.23%
117 MALLINCKRODT PUB LTD CO 7,528 562,000 0.23%
118 UNIVERSAL CORP VA 10,008 561,000 0.23%
119 ACCO BRANDS CORPORATION COM 78,440 559,000 0.23%
120 SURGICAL CARE AFFILIATES ORD 13,986 557,000 0.23%
121 PENN ENTERTAINMENT INC COM 34,794 557,000 0.23%
122 WESTLAKE CHEM CORP 10,261 557,000 0.23%
123 GREEN DOT CORP CL A 33,852 556,000 0.23%
124 HRG GROUP INC 40,838 554,000 0.23%
125 TECH DATA CORP 8,272 549,000 0.22%
126 ORTHOFIX INTL N V 13,955 547,000 0.22%
127 EMERGENT BIOSOLUTIONS INC 13,598 544,000 0.22%
128 ASSURED GUARANTY LTD COM 20,578 544,000 0.22%
129 CASH AMER INTL 18,146 543,000 0.22%
130 WALKER & DUNLOP INC COM 18,836 543,000 0.22%
131 TRIPLE-S MGMT CORP 22,660 542,000 0.22%
132 PAR PACIFIC HOLDINGS INC COM NEW 23,022 542,000 0.22%
133 CABLEVISION SYS CORP(NEW) NY GROUP CL ACOM 17,000 542,000 0.22%
134 VONAGE HLDGS CORP 94,273 541,000 0.22%
135 KCG HLDGS INC 43,648 537,000 0.22%
136 GENERAL CABLE CORP DEL NEW 39,735 534,000 0.22%
137 ARGO GROUP INTERNATIONAL 8,871 531,000 0.22%
138 SMITH & WESSON HLDG 24,175 531,000 0.22%
139 EARTHLINK HOLDINGS ORD 71,364 530,000 0.22%
140 FREEPORT-MCMORAN INC 77,042 522,000 0.21%
141 COMMERCIAL METALS CO COM 37,961 520,000 0.21%
142 GAMESTOP CORP NEW 18,500 519,000 0.21%
143 IRIDIUM COMMUNICATIONS INC 61,539 518,000 0.21%
144 VIAD CORP 18,195 514,000 0.21%
145 BANC OF CALIFORNIA INC COM 34,811 509,000 0.21%
146 CHEMTURA CORP 18,413 502,000 0.20%
147 NET 1 UEPS TECHNOLOGIES INC 36,993 500,000 0.20%
148 WOLVERINE WORLD WIDE INC COM 29,400 491,000 0.20%
149 CAL MAINE FOODS INC 10,112 469,000 0.19%
150 MATSON INC COM 10,735 458,000 0.19%
Page 3 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.