GOLUB CAP BDC INC

Ticker: GBDC CUSIP: 38173M102 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q3 2014
Shares 20,000 Value ($000) $319 Avg Close $6.09 Range $5.78 - $6.43
Q2 2014
Shares 20,000 Value ($000) $354 Avg Close $5.99 Range $5.46 - $6.42
Q1 2014
Shares 20,000 Value ($000) $357 Avg Close $6.43 Range $6.10 - $6.79