Gargoyle Investment Advisor’s PENN Entertainment PENN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q2	–	Sell	-9,938	Closed	-$261K	–	148
2018 Q1	$261K	Sell	9,938 -3,171	-24%	-$91.6K	0.11%	146
2017 Q4	$411K	Hold	13,109	–	–	0.16%	128
2017 Q3	$307K	Sell	13,109 -3,426	-21%	-$73.4K	0.12%	144
2017 Q2	$354K	Sell	16,535 -2,600	-14%	-$51.1K	0.14%	127
2017 Q1	$353K	Buy	+19,135	New	+$281K	0.14%	148
2016 Q1	–	Sell	-34,794	Closed	-$557K	–	201
2015 Q4	$557K	Hold	34,794	–	–	0.23%	120
2015 Q3	$584K	Buy	34,794 +3,149	+10%	+$57.6K	0.24%	119
2015 Q2	$581K	Sell	31,645 -7,073	-18%	-$118K	0.22%	134
2015 Q1	$606K	Buy	+38,718	New	+$608K	0.23%	123
2014 Q1	–	Sell	-21,714	Closed	-$311K	–	137
2013 Q4	$311K	Buy	+21,714	New	+$298K	0.15%	115