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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 (2016Q3)
Portfolio Summary: 186 holdings with a total value of $264,269,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 ORTHOFIX INTL N V 10,455 447,000 0.17%
52 SPX CORP 22,435 452,000 0.17%
53 ACCO BRANDS CORPORATION COM 47,240 455,000 0.17%
54 AMBAC FINL GROUP INC 24,945 459,000 0.17%
55 MCDERMOTT INTL INC 92,000 461,000 0.17%
56 CHART INDS INC 14,084 462,000 0.17%
57 PERRIGO CO PLC 5,166 477,000 0.18%
58 AMC NETWORKS INC CL A 9,219 478,000 0.18%
59 TRANSOCEAN LTD 44,900 479,000 0.18%
60 STARZ SERIES A 15,800 493,000 0.19%
61 COLFAX CORP 15,681 493,000 0.19%
62 FIRST SOLAR INC 13,545 535,000 0.20%
63 WESTLAKE CHEM CORP 10,261 549,000 0.21%
64 UNITED STATES CELLULAR CORP 15,502 563,000 0.21%
65 STAPLES INC 66,455 568,000 0.21%
66 TELEPHONE DATA SYS INC 21,377 581,000 0.22%
67 TELEDYNE TECHNOLOGIES INC 5,704 616,000 0.23%
68 ANTERO RES CORP 23,461 632,000 0.24%
69 ALLERGAN PLC 2,860 659,000 0.25%
70 HORIZON PHARMA PLC 38,559 699,000 0.26%
71 BIOGEN INC 2,247 703,000 0.27%
72 AVIS BUDGET GROUP 20,900 715,000 0.27%
73 CIT GROUP INC 20,169 732,000 0.28%
74 ASSURED GUARANTY LTD COM 26,460 744,000 0.28%
75 ZEBRA TECHNOLOGIES CORPORATION CL A 10,822 754,000 0.29%
76 LYONDELLBASELL INDUSTRIES N 9,362 755,000 0.29%
77 MICRON TECHNOLOGY INC 43,076 766,000 0.29%
78 BROCADE COMMUNICATIONS SYS I 83,697 772,000 0.29%
79 PVH CORPORATION 7,043 778,000 0.29%
80 MALLINCKRODT PUB LTD CO 11,528 805,000 0.30%
81 PRUDENTIAL FINL INC 9,919 810,000 0.31%
82 TRINITY INDS INC 33,478 810,000 0.31%
83 UNITED CONTL HLDGS INC 15,477 813,000 0.31%
84 NATIONAL OILWELL VARCO INC 23,012 845,000 0.32%
85 PILGRIMS PRIDE CORP NEW 40,316 852,000 0.32%
86 TIME WARNER INC 11,230 894,000 0.34%
87 ALLEGHANY CORP 1,728 907,000 0.34%
88 ON SEMICONDUCTOR CORP 73,700 908,000 0.34%
89 CROSSTEX ENERGY INC 54,744 917,000 0.35%
90 GILEAD SCIENCES INC 12,019 951,000 0.36%
91 MGIC INVT CORP WIS 122,274 978,000 0.37%
92 UNITED RENTALS INC 12,500 981,000 0.37%
93 OWENS CORNING NEW 18,548 990,000 0.37%
94 FIRSTENERGY CORP 31,000 1,025,000 0.39%
95 CADENCE DESIGN SYSTEM INC 41,000 1,047,000 0.40%
96 USG Corp 40,563 1,049,000 0.40%
97 TENNECO INC 18,300 1,066,000 0.40%
98 ORACLE CORP 27,253 1,070,000 0.40%
99 VMWARE INC 14,600 1,071,000 0.41%
100 REGIONS FINANCIAL CORP NEW 113,000 1,115,000 0.42%
Page 2 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001172661-16-004133, filed 2016.11.10).

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.