Kerrisdale Advisers’s PENN Entertainment PENN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2013 Q4	–	Sell	-48,206	Closed	-$603K	–	68
2013 Q3	$603K	Buy	48,206 +13,777	+40%	+$172K	0.28%	48
2013 Q2	$412K	Buy	+34,429	New	+$412K	0.19%	48