Ohio Strs

GBDC

10% OWNER · GOLUB CAPITAL BDC, INC. · CIK 0000820478

FILING MIX · LIFETIME64%/36%

BUYS

SELLS

TOTAL VALUE

$164.67M

COMPANIES

ACTIVE SINCE

Jan 2020

HOLDINGS NOW

22,733,042

AVG SELL PX

$12.46

Trades · vs SPY

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Performance · forward returns vs SPY

3 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Ohio Strs, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	3	+66.67%	-15.94%	-0.89%	-15.05%	-22.20%	—
14d	3	+66.67%	-1.43%	+7.40%	-8.84%	-12.53%	—
30d	3	+66.67%	-8.68%	+10.01%	-18.69%	-26.78%	—
60d	3	+33.33%	-5.38%	+9.40%	-14.79%	-24.06%	—
90d	3	+33.33%	-19.97%	+8.73%	-28.70%	-29.73%	—
180d	3	+33.33%	-7.56%	+18.68%	-26.24%	-23.45%	—
1y	3	+33.33%	+14.07%	+45.15%	-31.08%	-29.79%	—
2y	3	+33.33%	+26.52%	+73.36%	-46.84%	-45.05%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

GBDC · 22,733,042 shares · as of May 15, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 7 buys / 4 sellsCOVERAGE · 2 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	2,370,504	$9.17	$21.74M	22,733,042	May 15, 2020	May 19, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	4,072,507	$11.45	$46.63M	20,362,538	May 6, 2020	May 8, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	SALE	4,072,507	—	—	0	May 6, 2020	May 11, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	SALE	4,072,507	—	—	0	May 6, 2020	May 8, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	4,072,507	$11.45	$46.63M	20,362,538	May 6, 2020	May 8, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	4,072,507	—	—	0	May 6, 2020	May 8, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	4,072,507	$9.17	$37.34M	20,362,538	May 6, 2020	May 11, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	SALE	2,370,504	—	—	0	May 6, 2020	May 19, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	419,977.37	$12.47	$5.24M	16,290,031.37	Mar 27, 2020	Apr 15, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	SALE	0.37	$12.46	$5	16,290,031	Mar 27, 2020	Apr 15, 2020 ↗
GBDC GOLUB CAPITAL BDC, INC.	PURCHASE	403,046	$17.60	$7.09M	15,870,054	Jan 7, 2020	Jan 8, 2020 ↗

Other insiders · GBDC

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About this filer

CIK 0000820478

ROLE

10% Owner

PRIMARY

GBDC

COMPANIES

ACTIVE SINCE

Jan 2020

MARKETPEEL · /INSIDER/0000820478DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Ohio Strs

The morning brief, before the bell.