Fiduciary Management Associates’s PENN Entertainment PENN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-1,433,955	Closed	-$23M	–	116
2015 Q4	$23M	Buy	1,433,955 +89,720	+7%	+$1.44M	1.35%	34
2015 Q3	$22.6M	Sell	1,344,235 -10,980	-0.8%	-$184K	1.47%	22
2015 Q2	$24.9M	Buy	+1,355,215	New	+$24.9M	1.46%	19