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PADCO ADVISORS INC /MD NEW
> NPBC
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2010 | NATIONAL PENN BANCSHARES INC | NPBC | 0 | -81,216 | 0 | -488,000 | |
| 09/30/2010 | NATIONAL PENN BANCSHARES INC | NPBC | 0 | -81,216 | 0 | -488,000 | |
| 09/30/2010 | NATIONAL PENN BANCSHARES INC | NPBC | 0 | -81,216 | 0 | -488,000 | |
| 06/30/2010 | NATIONAL PENN BANCSHARES INC | NPBC | 81,216 | 26,273 | 488,000 | 170,000 | $6.01 |
| 03/31/2010 | NATIONAL PENN BANCSHARES INC | NPBC | 325,669 | 270,726 | 2,247,000 | 1,929,000 | $6.90 |
| 12/31/2009 | NATIONAL PENN BANCSHARES INC | NPBC | 54,943 | 51,061 | 318,000 | 294,000 | $5.79 |
| 09/30/2009 | NATIONAL PENN BANCSHARES INC | NPBC | 3,882 | -4,429 | 24,000 | -14,000 | $6.18 |
| 06/30/2009 | NATIONAL PENN BANCSHARES INC | NPBC | 8,311 | -15,661 | 38,000 | -161,000 | $4.57 |
| 03/31/2009 | NATIONAL PENN BANCSHARES INC | NPBC | 23,972 | 13,202 | 199,000 | 43,000 | $8.30 |
| 12/31/2008 | NATIONAL PENN BANCSHARES INC | NPBC | 10,770 | 10,770 | 156,000 | 156,000 | $14.48 |
| 09/30/2008 | NATIONAL PENN BANCSHARES INC | NPBC | 21,916 | 13,731 | 320,000 | 211,000 | $14.60 |
| 06/30/2008 | NATIONAL PENN BANCSHARES INC | NPBC | 8,185 | -8,815 | 109,000 | -200,000 | $13.32 |
| 03/31/2008 | NATIONAL PENN BANCSHARES INC | NPBC | 17,000 | 16,580 | 309,000 | 303,000 | $18.18 |
| 12/31/2007 | NATIONAL PENN BANCSHARES INC | NPBC | 420 | -2,702 | 6,000 | -45,000 | $14.29 |
| 09/30/2007 | NATIONAL PENN BANCSHARES INC | NPBC | 3,122 | -6,938 | 51,000 | -117,000 | $16.34 |
| 06/30/2007 | NATIONAL PENN BANCSHARES INC | NPBC | 10,060 | 4,370 | 168,000 | 60,000 | $16.70 |
| 03/31/2007 | NATIONAL PENN BANCSHARES INC | NPBC | 5,690 | -7,400 | 108,000 | -157,000 | $18.98 |
| 12/31/2006 | NATIONAL PENN BANCSHARES INC | NPBC | 13,090 | 13,090 | 265,000 | 265,000 | $20.24 |
| 09/30/2006 | NATIONAL PENN BANCSHARES INC | NPBC | 0 | -5,890 | 0 | -117,000 | |
| 06/30/2006 | NATIONAL PENN BANCSHARES INC | NPBC | 5,890 | 5,890 | 117,000 | 117,000 | $19.86 |
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