PENN NATL GAMING INC

Ticker: PENN CUSIP: 707569109 Class: Common Stock

STRATEGIC INVESTMENT MANAGEMENT, LLC's Holding History (CIK: 0000846633)

Note: Option positions (PUT/CALL) are excluded.

Q1 2014

Shares 19,578 Value ($000) $241 Avg Close $12.34 Range $10.84 - $14.45

Q4 2013

Shares 19,400 Value ($000) $223 Avg Close $13.74 Range $12.24 - $15.50

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	19,578	$241	$12.34	$10.84 - $14.45
Q4 2013	19,400	$223	$13.74	$12.24 - $15.50