PENN NATL GAMING INC

Ticker: PENN CUSIP: 707569109 Class: Common Stock

CADIAN CAPITAL MANAGEMENT, LP's Holding History (CIK: 0001423686)

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

Q4 2015

Shares 474,191 Value ($000) $7,597 Avg Close $16.83 Range $14.81 - $19.05

Q3 2015

Shares 434,677 Value ($000) $7,294 Avg Close $18.28 Range $15.90 - $20.23

Q2 2015

Shares 487,484 Value ($000) $8,945 Avg Close $16.64 Range $14.78 - $18.80

Q1 2015

Shares 451,977 Value ($000) $7,078 Avg Close $15.71 Range $12.88 - $17.06

Q4 2014

Shares 457,477 Value ($000) $6,281 Avg Close $12.95 Range $10.50 - $14.75

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	474,191	$7,597	$16.83	$14.81 - $19.05
Q3 2015	434,677	$7,294	$18.28	$15.90 - $20.23
Q2 2015	487,484	$8,945	$16.64	$14.78 - $18.80
Q1 2015	451,977	$7,078	$15.71	$12.88 - $17.06
Q4 2014	457,477	$6,281	$12.95	$10.50 - $14.75