PENN NATL GAMING INC

Ticker: PENN CUSIP: 707569109 Class: Common Stock

LOCUST WOOD CAPITAL ADVISERS, LLC's Holding History (CIK: 0001349434)

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

Q3 2013

Shares 5,400 Value ($000) $299 Avg Close $12.05 Range $11.01 - $12.99

Q2 2013

Shares 83,976 Value ($000) $4,444 Avg Close $12.65 Range $11.23 - $13.55

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2013	5,400	$299	$12.05	$11.01 - $12.99
Q2 2013	83,976	$4,444	$12.65	$11.23 - $13.55