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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 (2016Q2)
Portfolio Summary: 188 holdings with a total value of $267,989,000.
#
Name
Shares
Value ($)
%
Options
Notes
101 RADIAN GROUP INC 84,495 880,000 0.33%
102 TENNECO INC 18,300 853,000 0.32%
103 UNITED STATES CELLULAR CORP 21,402 840,000 0.31%
104 UNITED RENTALS INC 12,500 838,000 0.31%
105 VMWARE INC 14,600 835,000 0.31%
106 TIME WARNER INC 11,230 826,000 0.31%
107 NEWMONT CORP 20,941 820,000 0.31%
108 ON SEMICONDUCTOR CORP 90,700 800,000 0.30%
109 MGIC INVT CORP WIS 133,867 797,000 0.30%
110 NATIONAL OILWELL VARCO INC 23,012 774,000 0.29%
111 BROCADE COMMUNICATIONS SYS I 83,697 768,000 0.29%
112 VIACOM INC NEW 17,513 726,000 0.27%
113 COLFAX CORP 26,981 714,000 0.27%
114 CAL MAINE FOODS INC 16,074 712,000 0.27%
115 MALLINCKRODT PUB LTD CO 11,528 701,000 0.26%
116 OCEANEERING INTL INC 23,357 698,000 0.26%
117 LYONDELLBASELL INDUSTRIES N 9,362 697,000 0.26%
118 RACKSPACE HOSTING INC 32,532 679,000 0.25%
119 AVIS BUDGET GROUP 20,900 674,000 0.25%
120 ASSURED GUARANTY LTD COM 26,191 664,000 0.25%
121 ALLERGAN PLC 2,860 661,000 0.25%
122 FIRST SOLAR INC 13,545 656,000 0.24%
123 PVH CORPORATION 6,900 650,000 0.24%
124 CIT GROUP INC 20,169 644,000 0.24%
125 STARZ SERIES A 21,500 643,000 0.24%
126 HORIZON PHARMA PLC 38,559 636,000 0.24%
127 UNITED CONTL HLDGS INC 15,477 635,000 0.24%
128 MYRIAD GENETICS INC 20,700 634,000 0.24%
129 TRINITY INDS INC 33,478 622,000 0.23%
130 HERTZ GLOBAL HOLDINGS INC COM 55,373 613,000 0.23%
131 CROSSTEX ENERGY INC 37,540 598,000 0.22%
132 MICRON TECHNOLOGY INC 43,076 593,000 0.22%
133 STAPLES INC 66,455 572,000 0.21%
134 MOSAIC CO NEW 21,594 565,000 0.21%
135 TELEDYNE TECHNOLOGIES INC 5,704 565,000 0.21%
136 AMC NETWORKS INC CL A 9,219 557,000 0.21%
137 ZEBRA TECHNOLOGIES CORPORATION CL A 10,822 543,000 0.20%
138 BIOGEN INC 2,247 543,000 0.20%
139 SURGICAL CARE AFFILIATES ORD 10,986 524,000 0.20%
140 TARGA RES CORP 12,400 523,000 0.20%
141 SKYWEST INC 19,600 519,000 0.19%
142 ENNIS INC COM 26,992 518,000 0.19%
143 COMMERCIAL METALS CO COM 29,761 503,000 0.19%
144 ALTISOURCE PORTFOLIO SOLNS S 17,921 499,000 0.19%
145 WESTERN REFNG INC 23,876 492,000 0.18%
146 ACCO BRANDS CORPORATION COM 47,240 488,000 0.18%
147 DEAN FOODS CO NEW 26,914 487,000 0.18%
148 SANDERSON FARMS INC 5,622 487,000 0.18%
149 UNIVERSAL CORP VA 8,408 485,000 0.18%
150 NEW MEDIA INVT GROUP INC COM 26,648 482,000 0.18%
Page 3 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001172661-16-003627, filed 2016.07.27).

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.