GOLUB CAP BDC INC

Ticker: GBDC CUSIP: 38173M102 Class: COM

State of New Jersey Common Pension Fund D's Holding History (CIK: 0001483066)

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

Q4 2016

Shares 400,000 Value ($000) $7,356 Avg Close $7.78 Range $7.31 - $8.14

Q3 2016

Shares 631,310 Value ($000) $11,723 Avg Close $7.81 Range $7.48 - $8.26

Q2 2016

Shares 496,310 Value ($000) $8,968 Avg Close $7.10 Range $6.80 - $7.54

Q1 2016

Shares 456,310 Value ($000) $7,899 Avg Close $6.58 Range $5.92 - $7.11

Q4 2015

Shares 356,310 Value ($000) $5,925 Avg Close $6.62 Range $6.25 - $6.90

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	400,000	$7,356	$7.78	$7.31 - $8.14
Q3 2016	631,310	$11,723	$7.81	$7.48 - $8.26
Q2 2016	496,310	$8,968	$7.10	$6.80 - $7.54
Q1 2016	456,310	$7,899	$6.58	$5.92 - $7.11
Q4 2015	356,310	$5,925	$6.62	$6.25 - $6.90