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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 (2016Q4)
Portfolio Summary: 183 holdings with a total value of $256,550,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 HILL ROM HLDGS INC 48,457 2,720,000 1.06%
152 EATON CORP PLC 40,557 2,721,000 1.06%
153 INTEL CORP 75,709 2,746,000 1.07%
154 BRINKER INTL INC 55,561 2,752,000 1.07%
155 REINSURANCE GROUP AMER INC 22,128 2,784,000 1.09%
156 LEAR CORP 21,118 2,795,000 1.09%
157 MOTOROLA SOLUTIONS INC 33,800 2,802,000 1.09%
158 AT&T INC 66,290 2,819,000 1.10%
159 APPLE INC 24,451 2,832,000 1.10%
160 REYNOLDS AMERICAN INC 50,591 2,835,000 1.11%
161 DOW CHEM CO 50,307 2,879,000 1.12%
162 HILTON WORLDWIDE HLDGS INC 106,178 2,888,000 1.13%
163 REGAL BELOIT CORP 41,994 2,908,000 1.13%
164 SPIRIT AEROSYSTEMS HLDGS INC 50,559 2,950,000 1.15%
165 EXPRESS SCRIPTS HLDG CO 43,063 2,962,000 1.15%
166 ECHOSTAR CORP CL A 58,636 3,013,000 1.17%
167 BIO RAD LABS INC 16,537 3,014,000 1.17%
168 CA INC 94,995 3,018,000 1.18%
169 INTERNATIONAL BUSINESS MACHS 18,747 3,112,000 1.21%
170 TEXTRON INC 64,883 3,151,000 1.23%
171 SCRIPPS NETWORKS INTERACT IN 46,420 3,313,000 1.29%
172 GENERAL MTRS CO 97,398 3,393,000 1.32%
173 MORGAN STANLEY 82,547 3,488,000 1.36%
174 VOYA FINANCIAL INC 90,107 3,534,000 1.38%
175 F5 NETWORKS INC 24,800 3,589,000 1.40%
176 AMERIPRISE FINL INC 32,433 3,598,000 1.40%
177 RELIANCE STEEL & ALUMINUM CO 45,882 3,650,000 1.42%
178 BAXTER INTL INC 83,378 3,696,000 1.44%
179 FIFTH THIRD BANCORP 141,295 3,811,000 1.49%
180 FLEX LTD 267,768 3,848,000 1.50%
181 LAM RESEARCH CORP 38,403 4,060,000 1.58%
182 LEUCADIA NATL CORP 202,455 4,707,000 1.83%
183 SPDR S&P 500 ETF TR 25,120 5,615,000 2.19%
Page 4 of 4

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001172661-17-000175, filed 2017.01.27).

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.