# EDGAR Filing Document

**Accession Number:** 0001606378
**File Stem:** 0000910472-25-006016
**Filing Date:** 2025-12
**Character Count:** 44481
**Document Hash:** e9f3abe807ab8dc4279724189060217e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-006016.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000910472-25-006016

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eubel Brady & Suttman Mutual Fund Trust
- **CENTRAL INDEX KEY:** 0001606378

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22960
- **FILM NUMBER:** 251604489

**BUSINESS ADDRESS:**
- **STREET 1:** 10100 INNOVATION DRIVE
- **STREET 2:** SUITE 410
- **CITY:** DAYTON
- **STATE:** OH
- **ZIP:** 45342
- **BUSINESS PHONE:** 937-291-1223

**MAIL ADDRESS:**
- **STREET 1:** 10100 INNOVATION DRIVE
- **STREET 2:** SUITE 410
- **CITY:** DAYTON
- **STATE:** OH
- **ZIP:** 45342

## Series and Classes Contracts Data

### Eubel Brady & Suttman Income Fund (Series ID: S000045949)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000143295 | Eubel Brady & Suttman Income Fund | EBSFX           |

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | |
| **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | |
| **Corporate Bonds - 26.0%** | **Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Consumer Discretionary - 5.6%** | **Consumer Discretionary - 5.6%** |  |  |  |
| Garrett Motion Holdings, 144A | 7.750% | 05/31/32 | &nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$5262145 |
| Marriott International, Inc., Series KK | 4.900% | 04/15/29 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3060982 |
|  |  |  |  | &nbsp;&nbsp;8323127 |
| **Energy - 3.4%** | **Energy - 3.4%** |  |  |  |
| CNX Resources Corporation, 144A | 6.000% | 01/15/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5020460 |
| **Financials - 17.0%** | **Financials - 17.0%** |  |  |  |
| Bank OZK (TSFR3M + 209, effective 10/01/26) <sup>(a)</sup> | 2.750% | 10/01/31 | &nbsp;&nbsp;4130000 | &nbsp;&nbsp;3826280 |
| Churchill LBC, LLC, 144A <sup>(b)</sup> | 9.250% | 01/01/31 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;1014940 |
| CNG Holdings, Inc., 144A <sup>(b)(c)</sup> | 16.500% | 06/30/31 | &nbsp;&nbsp;2591680 | &nbsp;&nbsp;2301930 |
| First Maryland Capital I <br> (TSFR3M + 126.16) <sup>(a)</sup> | 5.166% | 01/15/27 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1983512 |
| First National Bank of Nebraska, Inc., 144A (TSFR3M + 361) <sup>(a)</sup> | 7.250% | 06/15/35 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;2080018 |
| GitSit Solutions, LLC, 144A <sup>(b)(c)</sup> | 8.000% | 11/15/29 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3578201 |
| NCP SNIP <sup>(b)(c)</sup> | 13.500% | 12/31/25 | &nbsp;&nbsp;1800000 | &nbsp;&nbsp;1791558 |
| Ponder Farms LBC, LLC, <br> Series 2025, 144A <sup>(b)</sup> | 8.500% | 01/01/29 | &nbsp;&nbsp;1755608 | &nbsp;&nbsp;1774321 |
| Reese Farms Development, LLC, 144A <sup>(b)(c)</sup> | 8.500% | 07/15/29 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3004809 |
| Southern Bancshares (N.C.), Inc., 144A (TSFR3M + 241, effective 06/30/26) <sup>(a)</sup> | 3.125% | 06/30/31 | &nbsp;&nbsp;2200000 | &nbsp;&nbsp;2008397 |
| Truist Financial Corporation <br> (TSFR3M + 93.16) <sup>(a)</sup> | 5.143% | 05/15/27 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1984533 |
|  |  |  |  | &nbsp;&nbsp;25348499 |
| **Total Corporate Bonds** (Cost $38,561,898) | **Total Corporate Bonds** (Cost $38,561,898) | **Total Corporate Bonds** (Cost $38,561,898) |  | &nbsp;&nbsp;$38692086 |
| **Convertible Bonds - 52.8%** | **Coupon** | **Maturity** | **Par Value** | **Value** |
| **Communications - 7.9%** | **Communications - 7.9%** |  |  |  |
| Airbnb, Inc. | 0.000% | 03/15/26 | &nbsp;&nbsp;$6000000 | &nbsp;&nbsp;$5895000 |
| TripAdvisor, Inc. | 0.250% | 04/01/26 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5820000 |
|  |  |  |  | &nbsp;&nbsp;11715000 |
| **Consumer Discretionary - 18.8%** | **Consumer Discretionary - 18.8%** |  |  |  |
| Cheesecake Factory, Inc. (The), 144A | 2.000% | 03/15/30 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4915000 |
| Etsy, Inc. | 0.125% | 09/01/27 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;2770500 |
| Etsy, Inc. | 0.250% | 06/15/28 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;3560000 |
| Ford Motor Company | 0.000% | 03/15/26 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5232500 |
| Guess, Inc. | 3.750% | 04/15/28 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4950000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | |
| **Convertible Bonds - 52.8% (Continued)** | **Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Consumer Discretionary - 18.8% (Continued)** | **Consumer Discretionary - 18.8% (Continued)** |  |  |  |
| Patrick Industries, Inc. | 1.750% | 12/01/28 | &nbsp;&nbsp;$4000000 | &nbsp;&nbsp;$6562000 |
|  |  |  |  | &nbsp;&nbsp;27990000 |
| **Consumer Staples - 3.1%** | **Consumer Staples - 3.1%** |  |  |  |
| Spectrum Brands, Inc. | 3.375% | 06/01/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4647500 |
| **Industrials - 8.7%** | **Industrials - 8.7%** |  |  |  |
| Lyft, Inc. | 0.625% | 03/01/29 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;7428000 |
| Winnebago Industries, Inc. | 3.250% | 01/15/30 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5472000 |
|  |  |  |  | &nbsp;&nbsp;12900000 |
| **Technology - 14.3%** | **Technology - 14.3%** |  |  |  |
| Avnet, Inc., 144A | 1.750% | 09/01/30 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4927500 |
| Bentley Systems, Inc. | 0.125% | 01/15/26 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4957500 |
| Bentley Systems, Inc. | 0.375% | 07/01/27 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;949000 |
| Global Payments, Inc. | 1.500% | 03/01/31 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5412000 |
| JBT Marel Corporation | 0.250% | 05/15/26 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4985000 |
|  |  |  |  | &nbsp;&nbsp;21231000 |
| **Total Convertible Bonds** (Cost $75,834,477) | **Total Convertible Bonds** (Cost $75,834,477) | **Total Convertible Bonds** (Cost $75,834,477) |  | &nbsp;&nbsp;$78483500 |
| **Bank Debt - 1.4%** | **Coupon** | **Maturity** | **Par Value** | **Value** |
| **Financials - 1.4%** | **Financials - 1.4%** |  |  |  |
| NCP SPV Texas, L.P. Revolving Loan |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Prime + 187) <sup>(a)(b)(c)</sup> (Cost $2,040,766) | 9.120% | 09/23/26 | &nbsp;&nbsp;$2040766 | &nbsp;&nbsp;$2011477 |
| **Common Stocks - 3.8%** | **Common Stocks - 3.8%** |  | **Shares** | **Value** |
| **Financials - 0.4%** | **Financials - 0.4%** |  |  |  |
| Lincoln National Corporation | Lincoln National Corporation |  | &nbsp;&nbsp;15673 | &nbsp;&nbsp;$658266 |
| **Materials - 3.4%** | **Materials - 3.4%** |  |  |  |
| Natural Resource Partners, L.P. | Natural Resource Partners, L.P. |  | &nbsp;&nbsp;48000 | &nbsp;&nbsp;4972800 |
| **Total Common Stocks** (Cost $4,456,029) | **Total Common Stocks** (Cost $4,456,029) | **Total Common Stocks** (Cost $4,456,029) |  | &nbsp;&nbsp;$5631066 |

---

---

| | | |
|:---|:---|:---|
| **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | **EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND** | |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | |
| **Money Market Funds - 15.4%** | **Shares** | <br>**Value** |
| Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 3.96% <sup>(d)</sup> <br> (Cost $22,926,797) | &nbsp;&nbsp;22926797 | &nbsp;&nbsp;$22926797 |
| **Total Investments at Value - 99.4%** (Cost $143,819,967) |  | &nbsp;&nbsp;$147744926 |
| **Other Assets in Excess of Liabilities - 0.6%** |  | &nbsp;&nbsp;872305 |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;$148617231 |

---

---

| | |
|:---|:---|
| 144A - | Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. The total value of such securities is $35,887,721 as of October 31, 2025, representing 24.1% of net assets. |
| TSFR - | CME Term Secured Overnight Financing Rate (SOFR) |

---

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of October 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically.

<sup>(b)</sup> Illiquid security. The total value of these securities as of October 31, 2025 was $15,477,236, representing 10.4% of net assets.

<sup>(c)</sup> Security has been valued using significant unobservable inputs in good faith by the Adviser in conformity with guidelines adopted by and subject to review by the Board of Trustees. The total value of such securities is $12,687,975 as of October 31, 2025, representing 8.5% of net assets.

<sup>(d)</sup> The rate shown is the 7-day effective yield as of October 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | |
| **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | **October 31, 2025 (Unaudited)** | |
| **Corporate Bonds - 67.9%** | **Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Communications - 1.4%** | **Communications - 1.4%** |  |  |  |
| VeriSign, Inc. | 4.750% | 07/15/27 | &nbsp;&nbsp;$6000000 | &nbsp;&nbsp;$5995032 |
| **Consumer Discretionary - 10.7%** | **Consumer Discretionary - 10.7%** |  |  |  |
| Garrett Motion Holdings, 144A | 7.750% | 05/31/32 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8419432 |
| LKQ Corporation | 5.750% | 06/15/28 | &nbsp;&nbsp;11000000 | &nbsp;&nbsp;11361564 |
| Magna International, Inc. | 5.050% | 03/14/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5131547 |
| Mohawk Industries, Inc. | 5.850% | 09/18/28 | &nbsp;&nbsp;11000000 | &nbsp;&nbsp;11474021 |
| Polaris, Inc. | 6.950% | 03/15/29 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8504124 |
|  |  |  |  | &nbsp;&nbsp;44890688 |
| **Consumer Staples - 3.2%** | **Consumer Staples - 3.2%** |  |  |  |
| J.M. Smucker Company (The) | 3.375% | 12/15/27 | &nbsp;&nbsp;8500000 | &nbsp;&nbsp;8386467 |
| Kroger Company (The) | 2.650% | 10/15/26 | &nbsp;&nbsp;5098000 | &nbsp;&nbsp;5030313 |
|  |  |  |  | &nbsp;&nbsp;13416780 |
| **Financials – 23.5%** | **Financials – 23.5%** |  |  |  |
| Bank of America Corporation<br> (H15T5Y + 276) <sup>(a)(b)</sup> | 4.375% | 12/31/99 | &nbsp;&nbsp;5500000 | &nbsp;&nbsp;5413015 |
| Bank OZK (TSFR3M + 209, effective 10/01/26) <sup>(b)</sup> | 2.750% | 10/01/31 | &nbsp;&nbsp;12250000 | &nbsp;&nbsp;11349135 |
| Churchill LBC, LLC, 144A <sup>(c)</sup> | 9.250% | 01/01/31 | &nbsp;&nbsp;4500000 | &nbsp;&nbsp;4567230 |
| CNG Holdings, Inc., 144A <sup>(c)(d)</sup> | 16.500% | 06/30/31 | &nbsp;&nbsp;4127760 | &nbsp;&nbsp;3666276 |
| First Maryland Capital I (TSFR3M + 126.16) <sup>(b)</sup> | 5.166% | 01/15/27 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4958780 |
| First National Bank of Nebraska, Inc., 144A (TSFR3M + 361) <sup>(b)</sup> | 7.250% | 06/15/35 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;6240055 |
| FNB Corporation (SOFR + 193, effective 12/11/29) <sup>(b)</sup> | 5.722% | 12/11/30 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8152552 |
| Loews Corporation | 3.750% | 04/01/26 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5987334 |
| MSCI, Inc., 144A | 4.000% | 11/15/29 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;8781703 |
| NCP SNIP <sup>(c)(d)</sup> | 13.500% | 12/31/25 | &nbsp;&nbsp;5725000 | &nbsp;&nbsp;5698150 |
| Ponder Farms LBC, LLC, Series <br> 2025, 144A <sup>(c)</sup> | 8.500% | 01/01/29 | &nbsp;&nbsp;4131913 | &nbsp;&nbsp;4175956 |
| Princeton 151 LBC, LLC, 144A <sup>(c)(d)</sup> | 9.000% | 12/15/30 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3446565 |
| Reese Farms Development, LLC, 144A <sup>(c)(d)</sup> | 8.500% | 07/15/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5008015 |
| Southern Bancshares (N.C.), Inc., 144A (TSFR3M + 241, effective 06/30/26) <sup>(b)</sup> | 3.125% | 06/30/31 | &nbsp;&nbsp;5800000 | &nbsp;&nbsp;5294865 |
| Truist Financial Corporation <br> (TSFR3M + 93.16) <sup>(b)</sup> | 5.143% | 05/15/27 | &nbsp;&nbsp;5788000 | &nbsp;&nbsp;5743239 |
| Truist Financial Corporation, Series N (H15T5Y + 300.3, effective <br> 09/01/29) <sup>(a)(b)</sup> | 6.669% | 12/31/99 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5020580 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | |
| **Corporate Bonds - 67.9% (Continued)** | **Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Financials – 23.5% (Continued)** | **Financials – 23.5% (Continued)** |  |  |  |
| Zions Bancorporation | 3.250% | 10/29/29 | &nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$4656548 |
|  |  |  |  | &nbsp;&nbsp;98159998 |
| **Health Care - 7.0%** | **Health Care - 7.0%** |  |  |  |
| Cencora, Inc. | 4.625% | 12/15/27 | &nbsp;&nbsp;5500000 | &nbsp;&nbsp;5557622 |
| Edwards Lifesciences Corporation | 4.300% | 06/15/28 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5007520 |
| Humana, Inc. | 3.950% | 03/15/27 | &nbsp;&nbsp;4500000 | &nbsp;&nbsp;4486531 |
| Humana, Inc. | 5.375% | 04/15/31 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8257865 |
| McKesson Corporation | 0.900% | 12/03/25 | &nbsp;&nbsp;6065000 | &nbsp;&nbsp;6047153 |
|  |  |  |  | &nbsp;&nbsp;29356691 |
| **Industrials - 12.3%** | **Industrials - 12.3%** |  |  |  |
| HEICO Corporation | 5.250% | 08/01/28 | &nbsp;&nbsp;10900000 | &nbsp;&nbsp;11223148 |
| Jacobs Energy Group, Inc. | 6.350% | 08/18/28 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;9494008 |
| Penske Truck Leasing Company, L.P., 144A | 5.700% | 02/01/28 | &nbsp;&nbsp;11000000 | &nbsp;&nbsp;11304358 |
| Textron, Inc. | 3.900% | 09/17/29 | &nbsp;&nbsp;7000000 | &nbsp;&nbsp;6883503 |
| Timken Company (The) | 4.500% | 12/15/28 | &nbsp;&nbsp;12433000 | &nbsp;&nbsp;12457195 |
|  |  |  |  | &nbsp;&nbsp;51362212 |
| **Materials - 4.3%** | **Materials - 4.3%** |  |  |  |
| Ball Corporation | 6.000% | 06/15/29 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;9219258 |
| Kennametal, Inc. | 4.625% | 06/15/28 | &nbsp;&nbsp;3600000 | &nbsp;&nbsp;3621565 |
| Sherwin-Williams Company (The) | 3.450% | 06/01/27 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4951900 |
|  |  |  |  | &nbsp;&nbsp;17792723 |
| **Technology – 5.5%** | **Technology – 5.5%** |  |  |  |
| Arrow Electronics, Inc. | 5.150% | 08/21/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5104223 |
| Fidelity National Information Services, Inc. | 4.700% | 07/15/27 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5021520 |
| Fiserv, Inc | 4.550% | 02/15/31 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;7913566 |
| Keysight Technologies, Inc. | 4.600% | 04/06/27 | &nbsp;&nbsp;3614000 | &nbsp;&nbsp;3629695 |
| Western Digital Corporation | 4.750% | 02/15/26 | &nbsp;&nbsp;1488000 | &nbsp;&nbsp;1486992 |
|  |  |  |  | &nbsp;&nbsp;23155996 |
| **Total Corporate Bonds** (Cost $280,526,558) | **Total Corporate Bonds** (Cost $280,526,558) | **Total Corporate Bonds** (Cost $280,526,558) |  | &nbsp;&nbsp;$284130120 |
| **U.S. Treasury Obligations - 13.9%** | **Coupon** | **Maturity** | **Par Value** | **Value** |
| U.S. Treasury Notes | 4.500% | 05/15/27 | &nbsp;&nbsp;$12000000 | &nbsp;&nbsp;$12149531 |
| U.S. Treasury Notes | 4.250% | 01/15/28 | &nbsp;&nbsp;10500000 | &nbsp;&nbsp;10639863 |
| U.S. Treasury Notes | 4.250% | 02/15/28 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;10138672 |
| U.S. Treasury Notes | 4.625% | 04/30/29 | &nbsp;&nbsp;12000000 | &nbsp;&nbsp;12382500 |
| U.S. Treasury Notes | 4.375% | 12/31/29 | &nbsp;&nbsp;12500000 | &nbsp;&nbsp;12830078 |
| **Total U.S. Treasury Obligations** (Cost $56,938,644) | **Total U.S. Treasury Obligations** (Cost $56,938,644) | **Total U.S. Treasury Obligations** (Cost $56,938,644) |  | &nbsp;&nbsp;$58140644 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | **EUBEL BRADY & SUTTMAN INCOME FUND** | |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | |
| **Bank Debt - 1.2%** | **Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Financials - 1.2%** | **Financials - 1.2%** |  |  |  |
| NCP SPV Texas, L.P. Revolving Loan |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Prime + 187) <sup>(b)(c)(d)</sup> (Cost $5,101,915) | 9.120% | &nbsp;&nbsp;&nbsp;09/23/26 | $5101914 | &nbsp;&nbsp;$5028692 |
| **Common Stocks - 1.7%** | **Common Stocks - 1.7%** |  | **Shares** | **Value** |
| **Materials - 1.7%** | **Materials - 1.7%** |  |  |  |
| Natural Resource Partners, L.P. (Cost $6,196,936) | Natural Resource Partners, L.P. (Cost $6,196,936) |  | &nbsp;&nbsp;69000 | &nbsp;&nbsp;$7148400 |
| **Money Market Funds - 12.4%** | **Money Market Funds - 12.4%** |  | **Shares** | **Value** |
| Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 3.96% <sup>(e)</sup> <br> (Cost $51,779,747) | Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 3.96% <sup>(e)</sup> <br> (Cost $51,779,747) |  | &nbsp;&nbsp;59822156 | &nbsp;&nbsp;$51779747 |
| **Total Investments at Value - 97.1%** (Cost $400,543,800) | **Total Investments at Value - 97.1%** (Cost $400,543,800) | **Total Investments at Value - 97.1%** (Cost $400,543,800) |  | &nbsp;&nbsp;$406227603 |
| **Other Assets in Excess of Liabilities - 2.9%** | **Other Assets in Excess of Liabilities - 2.9%** | **Other Assets in Excess of Liabilities - 2.9%** |  | &nbsp;&nbsp;12176869 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | **Net Assets - 100.0%** |  | &nbsp;&nbsp;$418404472 |

---

---

| | |
|:---|:---|
| 144A - | Security was purchased in a transaction exempt from registration in compliance with Rule 144A of the Securities Act of 1933. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. The total value of such securities is $60,904,455 as of October 31, 2025, representing 14.6% of net assets. |
| H15T5Y - | U.S Treasury yield curve rate for U.S. Treasury note with a constant maturity of 5 years |
| SOFR - | Secured Overnight Financing Rate |
| TSFR - | CME Term Secured Overnight Financing Rate (SOFR) |

---

<sup>(a)</sup> Security has a perpetual maturity.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of October 31, 2025. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically.

<sup>(c)</sup> Illiquid security. The total value of these securities as of October 31, 2025 was $31,590,884, representing 7.6% of net assets.

<sup>(d)</sup> Security has been valued using significant unobservable inputs in good faith by the Adviser in conformity with guidelines adopted by and subject to review by the Board of Trustees. The total value of such securities is $22,847,698 as of October 31, 2025, representing 5.5% of net assets.

<sup>(e)</sup> The rate shown is the 7-day effective yield as of October 31, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Eubel Brady & Suttman Mutual Fund Trust

- **b. Investment Company Act file number:** 811-22960

- **c. CIK number of Registrant:** 0001606378

- **d. LEI of Registrant:** 549300DOIRLUVPKFB434

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 10100 Innovation Drive

  - **City:** Dayton

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45342

  - **Telephone number:** 937-291-1223

**Item A.2. Information about the Series.**

- **a. Name of Series:** EUBEL BRADY & SUTTMAN INCOME FUND

- **b. EDGAR series identifier (if any):** S000045949

- **c. LEI of Series:** 549300SMV3PYPPLKT605

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $420223507.97

**Total Liabilities:** $1819036.17

**Net Assets:** $418404471.80

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 2666.00909128 | **1-Year:** 22342.03269933 | **5-Year:** 28906.64525620 | **10-Year:** 430.41079323 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 37.10434229 | **1-Year:** 2050.72686413 | **5-Year:** 2282.51414782 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000143295 | 0.96%                | 0.61%                | 0.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $44993.16                | $2334036.70                                |
| Month 2  | $19529.91                | $526209.31                                 |
| Month 3  | $364195.07               | $-610327.70                                |

### Schedule of Portfolio Investments

| Name                                                 | Title                                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury Notes                         | U.S. Treasury Notes 4.25%, Due 1/15/2028                           | CUSIP: 91282CMF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10500000 | PA      | $10639863.26  | 2.54%             | 2028-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | NCP SPV Revolving Loan Maturity 09/19/2026                         | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   5101914 | PA      | $5028691.69   | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Ball Corporation                                     | Ball Corp Sr Glbl Nt 6.0% Due 06/15/2029                           | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9219258.00   | 2.20%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MSCI Inc.                                            | MSCI INC SR GLBL 144A 29 4.00%, DUE 11/15/2029                     | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8781702.57   | 2.10%             | 2029-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                         | United States Treas Nts 4.625% Due  4/30/29                        | CUSIP: 91282CKP5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12000000 | PA      | $12382500.00  | 2.96%             | 2029-04-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Keysight Technologies, Inc.                          | Keysight Technologies, Inc. 4.60%, DUE 04/06/2027                  | CUSIP: 49338LAE3<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |   3614000 | PA      | $3629694.81   | 0.87%             | 2027-04-06      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Short-Term Invts T                                   | Invesco Treasury Portfolio Institutional Class                     | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  59822156 | NS      | $59822155.50  | 14.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                | Bank of America Corporation 4.375%, Perpetual Maturity             | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5413014.75   | 1.29%             | 2099-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| The Kroger Co.                                       | Kroger Company (The) 2.650% Due 10/15/2026                         | CUSIP: 501044DE8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   5098000 | PA      | $5030313.24   | 1.20%             | 2026-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| Jacobs Engineering Group Inc.                        | Jacobs Engineering Group 6.35%, Due 08/18/2028                     | CUSIP: 469814AB3<br>LEI: 549300CZ8QS1GE53O776 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9494007.66   | 2.27%             | 2028-08-18      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Kennametal Inc                                       | Kennametal, Inc. 4.625%, Due 06/15/2028                            | CUSIP: 489170AE0<br>LEI: 549300GZDSG25XUV0Y08 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3621565.08   | 0.87%             | 2028-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CNG Holdings, Inc.                                   | CNG Holdings, Inc. 16.50%, Due 06/30/2031                          | CUSIP: 12612DAP1<br>LEI: 5493007UWN8DW8ZWF476 | Long             | DBT              | CORP              | US        |   4127760 | PA      | $3666276.43   | 0.88%             | 2031-06-30      | Fixed         | 16.50%                | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                         | U.S. Treasury Notes 4.5%, Due 5/15/2027                            | CUSIP: 91282CKR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12000000 | PA      | $12149531.28  | 2.90%             | 2027-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| First Maryland Capital I                             | First Maryland Capital I FRN, Due 01/15/2027                       | CUSIP: 320808AD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4958780.10   | 1.19%             | 2027-01-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Mckesson Corp.                                       | MCKESSON CORP .9%, Due 12/03/2025                                  | CUSIP: 581557BQ7<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |   6065000 | PA      | $6047153.43   | 1.45%             | 2025-12-03      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| First National Bank of Nebraska Inc.                 | First National of Nebraska 7.25%, Due 06/15/2035                   | CUSIP: 32119CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6240054.54   | 1.49%             | 2035-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Humana Inc.                                          | Humana, Inc. 3.95%, DUE 03/15/2027                                 | CUSIP: 444859BF8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4486531.14   | 1.07%             | 2027-03-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| The Sherwin-Williams Company                         | Sherwin-Williams Company (The) 3.45%, due 06/01/2027               | CUSIP: 824348AW6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4951899.60   | 1.18%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Edwards Lifesciences Corporation                     | Edwards Lifesciences Corporation 4.30%, Due 06/15/2028             | CUSIP: 28176EAD0<br>LEI: YA13X31F3V31L8TMPR58 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5007519.60   | 1.20%             | 2028-06-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                               | Truist Financial Corporation 6.669%, Perpetual Maturity            | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5020580.00   | 1.20%             | 2099-12-31      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Cencora Inc                                          | Cencora, Inc. 4.625%, Due 12/15/2027                               | CUSIP: 03073EAV7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5557621.69   | 1.33%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Magna International Inc                              | Magna International Incorporated 5.05%, Due 03/14/2029             | CUSIP: 559222BA1<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5131547.40   | 1.23%             | 2029-03-14      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| F N B Corp (Pennsylvania)                            | FNP Corporation 5.722%, Due 12/11/2030                             | CUSIP: 302520AD3<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8152552.00   | 1.95%             | 2030-12-11      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| Heico Corp                                           | Heico Corporation 5.25%, Due 08/01/2028                            | CUSIP: 422806AA7<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |  10900000 | PA      | $11223148.05  | 2.68%             | 2028-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Churchill LBC LLC                                    | Churchill LBC LLC 9.25%, Due 01/01/2031                            | CUSIP: 171495AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4567229.60   | 1.09%             | 2031-01-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| The J M Smucker Company                              | J.M. Smucker Company (The) 3.375%, Due 12/15/2027                  | CUSIP: 832696AR9<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8386466.44   | 2.00%             | 2027-12-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Garrett Motion Holdings Inc. / Garrett LX I S.a.r.l. | Garrett Motion Holdings 7.75%, Due 05/31/2032                      | CUSIP: 366504AA6<br>LEI: 5493001N1N6Z0SR83G07 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8419432.00   | 2.01%             | 2032-05-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Mohawk Industries, Inc.                              | Mohawk Industries Incorporated 5.85%, Due 09/18/2028               | CUSIP: 608190AM6<br>LEI: 549300JI1115MG3Q6322 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11474021.57  | 2.74%             | 2028-09-18      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Zions Bancorporation Natl Assn Global Bank           | Zions Bancorporation NA 3.25%, Due 10/29/2029                      | CUSIP: 98971DAB6<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4656548.10   | 1.11%             | 2029-10-29      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| The Timken Company                                   | Timken Company (The) 4.50%, due 12/15/2028                         | CUSIP: 887389AK0<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | DBT              | CORP              | US        |  12433000 | PA      | $12457195.61  | 2.98%             | 2028-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | NCP SNIP Revolving Loan 13.50%, Maturity 12/31/2025                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5725000 | PA      | $5698149.75   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Western Digital Corp.                                | Western Ditigal Corp. 4.75% due 02/15/2026                         | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |   1488000 | PA      | $1486992.48   | 0.36%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co LP / PTL Finance Corp.       | Penske Truck Leasing Company, L.P. 5.70%, Due 02/01/2028           | CUSIP: 709599BS2<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11304357.68  | 2.70%             | 2028-02-01      | Fixed         | 5.70%                 | Yes           |                  2 | On Loan: No      |
| Reese Farms Development LLC                          | Reese Farms Development 8.50%, Due 07/15/2029                      | CUSIP: 75846GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5008015.00   | 1.20%             | 2029-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Notes                         | U.S. Treasury Notes 4.375%, Due 12/31/2029                         | CUSIP: 91282CMD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12500000 | PA      | $12830078.13  | 3.07%             | 2029-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Textron Inc.                                         | Textron, Inc, 3.90%, due 09/17/2029                                | CUSIP: 883203CA7<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6883503.48   | 1.65%             | 2029-09-17      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Bank OZK                                             | Bank of the Ozarks 2.75 % Due 10/1/31                              | CUSIP: 06417NA94<br>LEI: 549300VYK2WBD7SST478 | Long             | DBT              | CORP              | US        |  12250000 | PA      | $11349135.00  | 2.71%             | 2031-10-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Truist Financial Corp.                               | Truist Financial Corporation Floater, Due 05/15/2027               | CUSIP: 86787XAA3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   5788000 | PA      | $5743239.02   | 1.37%             | 2027-05-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| N/A                                                  | Princeton 151 LBC, LLC 9.0%, Due 12/15/2030                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3446565.50   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Notes                         | U.S. Treasury Notes 4.25%, Due 2/15/2028                           | CUSIP: 91282CMN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $10138671.90  | 2.42%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sthn Bancshares Nc                                   | Southern Bancshares 3.125%, Due 06/30/2031                         | CUSIP: 842243AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5294864.78   | 1.27%             | 2031-06-30      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Humana Inc.                                          | Humana Incorporated 5.375%, Due 04/15/2031                         | CUSIP: 444859CA8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8257865.28   | 1.97%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LKQ Corporation                                      | LKQ Corporation 5.75%, Due 06/15/2028                              | CUSIP: 501889AD1<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11361563.62  | 2.72%             | 2028-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Loews Corporation                                    | LOEWS CORP 3.75%, DUE 04/01/2026                                   | CUSIP: 540424AS7<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5987334.36   | 1.43%             | 2026-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Verisign, Inc.                                       | Verisign, Inc. 4.75%, Due 07/15/2027                               | CUSIP: 92343EAL6<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5995031.70   | 1.43%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fidelity National Information Services Inc           | Fidelity National Information Services, Inc. 4.70%, DUE 07/15/2027 | CUSIP: 31620MBW5<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5021520.50   | 1.20%             | 2027-07-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Arrow Electronics, Inc.                              | Arrow Electronics Incorporated 5.15%, Due 08/21/2029               | CUSIP: 04273WAF8<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5104222.65   | 1.22%             | 2029-08-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc.                                          | Fiserv, Inc. 4.55%, Due 02/15/2031                                 | CUSIP: 337738BP2<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7913566.24   | 1.89%             | 2031-02-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Polaris Inc.                                         | POLARIS INC SR NT 6.95%, DUE 03/15/2029                            | CUSIP: 731068AA0<br>LEI: 549300QJSN8UVWN1EI78 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8504123.68   | 2.03%             | 2029-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Natural Resource Partners L.P.                       | NATURAL RESOURCE PARTNERS, L.P.                                    | CUSIP: 63900P608<br>LEI: 529900EECJ7CSX1S1S58 | Long             | EC               | CORP              | US        |     69000 | NS      | $7148400.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ponder Farms LBC LLC                                 | Ponder Farms LBC, LLC 8.50%, Due 01/01/2029                        | CUSIP: 732377AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4131913 | PA      | $4175955.76   | 1.00%             | 2029-01-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-27

**Name of Applicant:** Eubel Brady & Suttman Income Fund

**Signature:** Sarah Criger

**Name of Signer:** Sarah Criger

**Title:** VP, Fund Accounting