# EDGAR Filing Document

**Accession Number:** 0001606378
**File Stem:** 0000910472-26-010044
**Filing Date:** 2026-6
**Character Count:** 35689
**Document Hash:** 3b626d7bb2d81685557bb0fc7a5672c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-010044.hdr.sgml**: 20260629

**ACCESSION NUMBER**: 0000910472-26-010044

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260629

**DATE AS OF CHANGE**: 20260629

**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:** 261131661

**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 and Appreciation Fund (Series ID: S000045948)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000143294 | Eubel Brady & Suttman Income and Appreciation Fund | EBSZX           |

## 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** | |
| **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | |
| **Corporate Bonds - 28.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Consumer Discretionary - 8.9%** | **Consumer Discretionary - 8.9%** |  |  |  |
| Crocs, Inc., 144A | 4.125% | 08/15/31 | &nbsp;&nbsp;$6000000 | &nbsp;&nbsp;$5580974 |
| Garrett Motion Holdings, 144A | 7.750% | 05/31/32 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5218605 |
| Marriott International, Inc., Series KK | 4.900% | 04/15/29 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3035861 |
|  |  |  |  | &nbsp;&nbsp;13835440 |
| **Energy - 3.4%** | **Energy - 3.4%** |  |  |  |
| CNX Resources Corporation, 144A | 7.250% | 03/01/32 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5207975 |
| **Financials - 15.7%** | **Financials - 15.7%** |  |  |  |
| Bank OZK (TSFR3M + 209,<br> effective 10/01/26) <sup>(a)</sup> | 2.750% | 10/01/31 | &nbsp;&nbsp;4130000 | &nbsp;&nbsp;3990612 |
| Churchill LBC, LLC, 144A <sup>(b)</sup> | 9.250% | 01/01/31 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;1006567 |
| CNG Holdings, Inc., 144A <sup>(b)(c)</sup> | 16.500% | 06/30/31 | &nbsp;&nbsp;2621561 | &nbsp;&nbsp;2329603 |
| First Maryland Capital I <br> (TSFR3M + 126.16) <sup>(a)</sup> | 4.935% | 01/15/27 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1982559 |
| First National Bank of Nebraska, Inc.,<br> 144A (TSFR3M + 361) <sup>(a)</sup> | 7.250% | 06/15/35 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;2067011 |
| GitSit Solutions, LLC, 144A <sup>(b)(c)</sup> | 8.000% | 11/15/29 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3502352 |
| NCP SNIP <sup>(b)(c)</sup> | 13.500% | 12/31/27 | &nbsp;&nbsp;1800000 | &nbsp;&nbsp;1802567 |
| Ponder Farms LBC, LLC, <br> Series 2025, 144A <sup>(b)</sup> | 8.500% | 01/01/29 | &nbsp;&nbsp;1755608 | &nbsp;&nbsp;1760924 |
| Reese Farms Development, LLC, 144A <sup>(b)(c)</sup> | 8.500% | 07/15/29 | &nbsp;&nbsp;1990000 | &nbsp;&nbsp;1994858 |
| 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;2056628 |
| Truist Financial Corporation <br> (TSFR3M + 93.16) <sup>(a)</sup> | 4.583% | 05/15/27 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1984049 |
|  |  |  |  | &nbsp;&nbsp;24477730 |
| **Total Corporate Bonds** (Cost $43,472,006) | **Total Corporate Bonds** (Cost $43,472,006) | **Total Corporate Bonds** (Cost $43,472,006) |  | &nbsp;&nbsp;$43521145 |
| **Convertible Bonds - 39.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** | **Value** |
| **Consumer Discretionary - 9.9%** | **Consumer Discretionary - 9.9%** |  |  |  |
| Cheesecake Factory, Inc. (The) | 2.000% | 03/15/30 | &nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$5510000 |
| Etsy, Inc. | 0.250% | 06/15/28 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;3614000 |
| Etsy, Inc., 144A | 1.000% | 06/15/30 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3243000 |
| Patrick Industries, Inc. | 1.750% | 12/01/28 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;3004000 |
|  |  |  |  | &nbsp;&nbsp;15371000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 - 39.0% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** | <br>**Value** |
| **Consumer Staples - 3.3%** | **Consumer Staples - 3.3%** |  |  |  |
| Spectrum Brands, Inc. | 3.375% | 06/01/29 | &nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$5093500 |
| **Health Care - 3.1%** | **Health Care - 3.1%** |  |  |  |
| Haemonetics Corporation | 2.500% | 06/01/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4857000 |
| **Industrials - 7.6%** | **Industrials - 7.6%** |  |  |  |
| Lyft, Inc. | 0.625% | 03/01/29 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;6276600 |
| Winnebago Industries, Inc. | 3.250% | 01/15/30 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5565000 |
|  |  |  |  | &nbsp;&nbsp;11841600 |
| **Technology - 15.1%** | **Technology - 15.1%** |  |  |  |
| Avnet, Inc., 144A | 1.750% | 09/01/30 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;6527500 |
| Bentley Systems, Inc. | 0.375% | 07/01/27 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5718000 |
| Global Payments, Inc. | 1.500% | 03/01/31 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5385000 |
| Guidewire Software, Inc. | 1.250% | 11/01/29 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5898750 |
|  |  |  |  | &nbsp;&nbsp;23529250 |
| **Total Convertible Bonds** (Cost $58,085,479) | **Total Convertible Bonds** (Cost $58,085,479) | **Total Convertible Bonds** (Cost $58,085,479) |  | &nbsp;&nbsp;$60692350 |
| **Bank Debt - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** | **Value** |
| **Financials - 1.5%** | **Financials - 1.5%** |  |  |  |
| NCP SPV Texas, L.P. Revolving Loan (Prime + 187) <sup>(a)(b)(c)</sup> (Cost $2,314,039) | 8.620% | 09/19/26 | &nbsp;&nbsp;$2314039 | &nbsp;&nbsp;$2293074 |
| **Common Stocks - 4.0%** | **Common Stocks - 4.0%** |  | **Shares** | **Value** |
| **Financials - 0.4%** | **Financials - 0.4%** |  |  |  |
| Lincoln National Corporation | Lincoln National Corporation |  | &nbsp;&nbsp;15673 | &nbsp;&nbsp;$592596 |
| **Materials - 3.6%** | **Materials - 3.6%** |  |  |  |
| Natural Resource Partners, L.P. | Natural Resource Partners, L.P. |  | &nbsp;&nbsp;48000 | &nbsp;&nbsp;5671680 |
| **Total Common Stocks** (Cost $4,456,028) | **Total Common Stocks** (Cost $4,456,028) | **Total Common Stocks** (Cost $4,456,028) |  | &nbsp;&nbsp;$6264276 |

---

---

| | | |
|:---|:---|:---|
| **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 - 26.8%** | **Shares** |<br>**Value** |
| Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 3.55% <sup>(d)</sup> (Cost $41,630,613) | &nbsp;&nbsp;41630607 | &nbsp;&nbsp; $41630613 |
| **Total Investments at Value - 99.3%** (Cost $149,958,165) |  | &nbsp;&nbsp;$154401458 |
| **Other Assets in Excess of Liabilities - 0.7%** |  | &nbsp;&nbsp;1064443 |
| **Net Assets - 100.0%** |  | &nbsp;&nbsp;$155465901 |

---

---

| | |
|:---|:---|
| 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 $40,495,997 as of April 30, 2026, representing 26.0% 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 April 30, 2026. 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 fair value of these securities as of April 30, 2026 was $14,689,945, representing 9.4% 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 $11,922,454 as of April 30, 2026, representing 7.7% of net assets.

<sup>(b)</sup> The rate shown is the 7-day effective yield as of April 30, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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** | |
| **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | **April 30, 2026 (Unaudited)** | |
| **Corporate Bonds - 68.7%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** |<br><br>**Value** |
| **Communications - 1.4%** | **Communications - 1.4%** |  | | |
| VeriSign, Inc. | 4.750% | 07/15/27 | &nbsp;&nbsp;$6000000 | &nbsp;&nbsp;$5999814 |
| **Consumer Discretionary - 11.8%** | **Consumer Discretionary - 11.8%** |  |  |  |
| Crocs, Inc., 144A | 4.125% | 08/15/31 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;5580974 |
| Garrett Motion Holdings, 144A | 7.750% | 05/31/32 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8349768 |
| LKQ Corporation | 5.750% | 06/15/28 | &nbsp;&nbsp;11000000 | &nbsp;&nbsp;11173463 |
| Magna International, Inc. | 5.050% | 03/14/29 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5076553 |
| Mohawk Industries, Inc. | 5.850% | 09/18/28 | &nbsp;&nbsp;11000000 | &nbsp;&nbsp;11311858 |
| Polaris, Inc. | 6.950% | 03/15/29 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8383961 |
|  |  |  |  | &nbsp;&nbsp;49876577 |
| **Consumer Staples - 3.2%** | **Consumer Staples - 3.2%** |  |  |  |
| J.M. Smucker Company (The) | 3.375% | 12/15/27 | &nbsp;&nbsp;8500000 | &nbsp;&nbsp;8372840 |
| Kroger Company (The) | 2.650% | 10/15/26 | &nbsp;&nbsp;5098000 | &nbsp;&nbsp;5063915 |
|  |  |  |  | &nbsp;&nbsp;13436755 |
| **Financials - 21.2%** | **Financials - 21.2%** |  |  |  |
| Bank of America Corporation <sup>(a)</sup> | 4.375% | 12/31/99 | &nbsp;&nbsp;5500000 | &nbsp;&nbsp;5451884 |
| Bank OZK (TSFR3M + 209,<br> effective 10/01/26) <sup>(b)</sup> | 2.750% | 10/01/31 | &nbsp;&nbsp;12250000 | &nbsp;&nbsp;11836562 |
| Churchill LBC, LLC, 144A <sup>(c)</sup> | 9.250% | 01/01/31 | &nbsp;&nbsp;4500000 | &nbsp;&nbsp;4529554 |
| CNG Holdings, Inc., 144A <sup>(c)(d)</sup> | 16.500% | 06/30/31 | &nbsp;&nbsp;4175353 | &nbsp;&nbsp;3710352 |
| First Maryland Capital I <br> (TSFR3M + 126.16) <sup>(b)</sup> | 4.935% | 01/15/27 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4956397 |
| First National Bank of Nebraska, Inc., <br> 144A (TSFR3M +361) <sup>(b)</sup> | 7.250% | 06/15/35 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;6201033 |
| FNB Corporation (SOFR + 193, <br> effective 12/11/29) <sup>(b)</sup> | 5.722% | 12/11/30 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8084857 |
| MSCI, Inc., 144A | 4.000% | 11/15/29 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;8744633 |
| NCP SNIP <sup>(c)(d)</sup> | 13.500% | 12/31/27 | &nbsp;&nbsp;5725000 | &nbsp;&nbsp;5733164 |
| Ponder Farms LBC, LLC, <br> Series 2025, 144A <sup>(c)</sup> | 8.500% | 01/01/29 | &nbsp;&nbsp;4131913 | &nbsp;&nbsp;4144423 |
| Princeton 151 LBC, LLC, 144A <sup>(c)(d)</sup> | 9.000% | 12/15/30 | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;2570399 |
| Reese Farms Development, LLC, 144A <sup>(c)(d)</sup> | 8.500% | 07/15/29 | &nbsp;&nbsp;3310000 | &nbsp;&nbsp;3318080 |
| 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;5422021 |
| Truist Financial Corporation <br> (TSFR3M + 93.16) <sup>(b)</sup> | 4.583% | 05/15/27 | &nbsp;&nbsp;5788000 | &nbsp;&nbsp;5741837 |
| Truist Financial Corporation, <br> Series N (H15T5Y + 300.3, <br> effective 09/01/29) <sup>(a)(b)</sup> | 6.669% | 12/31/99 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5001965 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 - 68.7% (Continued)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** |<br>**Value** |
| **Financials - 21.2% (Continued)** | **Financials - 21.2% (Continued)** | | | |
| Zions Bancorporation | 3.250% | 10/29/29 | &nbsp;&nbsp; $5000000 | &nbsp;&nbsp;$4656839 |
|  |  |  |  | &nbsp;&nbsp;90104000 |
| **Health Care - 5.4%** | **Health Care - 5.4%** |  |  |  |
| Cencora, Inc. | 4.625% | 12/15/27 | &nbsp;&nbsp;5500000 | &nbsp;&nbsp;5520274 |
| Edwards Lifesciences Corporation | 4.300% | 06/15/28 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4989384 |
| Humana, Inc. | 3.950% | 03/15/27 | &nbsp;&nbsp;4500000 | &nbsp;&nbsp;4487776 |
| Humana, Inc. | 5.375% | 04/15/31 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;8115628 |
|  |  |  |  | &nbsp;&nbsp;23113062 |
| **Industrials - 12.0%** | **Industrials - 12.0%** |  |  |  |
| HEICO Corporation | 5.250% | 08/01/28 | &nbsp;&nbsp;10900000 | &nbsp;&nbsp;11091482 |
| Jacobs Energy Group, Inc. | 6.350% | 08/18/28 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;9320354 |
| Penske Truck Leasing Company, L.P., 144A | 5.700% | 02/01/28 | &nbsp;&nbsp;11000000 | &nbsp;&nbsp;11175093 |
| Textron, Inc. | 3.900% | 09/17/29 | &nbsp;&nbsp;7000000 | &nbsp;&nbsp;6846578 |
| Timken Company (The) | 4.500% | 12/15/28 | &nbsp;&nbsp;12433000 | &nbsp;&nbsp;12415257 |
|  |  |  |  | &nbsp;&nbsp;50848764 |
| **Materials - 4.2%** | **Materials - 4.2%** |  |  |  |
| Ball Corporation | 6.000% | 06/15/29 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;9155655 |
| Kennametal, Inc. | 4.625% | 06/15/28 | &nbsp;&nbsp;3600000 | &nbsp;&nbsp;3603931 |
| Sherwin-Williams Company (The) | 3.450% | 06/01/27 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4955428 |
|  |  |  |  | &nbsp;&nbsp;17715014 |
| **Technology - 9.5%** | **Technology - 9.5%** |  |  |  |
| Arrow Electronics, Inc. | 5.150% | 08/21/29 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;10106625 |
| Fidelity National Information Services, Inc. | 4.700% | 07/15/27 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4999016 |
| Fiserv, Inc. | 4.550% | 02/15/31 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;7842331 |
| Keysight Technologies, Inc. | 4.600% | 04/06/27 | &nbsp;&nbsp;8614000 | &nbsp;&nbsp;8629322 |
| Roper Technologies, Inc. | 4.500% | 10/15/29 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;8957136 |
|  |  |  |  | &nbsp;&nbsp;40534430 |
| **Total Corporate Bonds** (Cost $289,606,798) | **Total Corporate Bonds** (Cost $289,606,798) | **Total Corporate Bonds** (Cost $289,606,798) |  | $291628416 |
| **U.S. Treasury Obligations - 23.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** | **Value** |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500% | 05/15/27 | &nbsp;&nbsp;$12000000 | &nbsp;&nbsp;$12084844 |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 01/15/28 | &nbsp;&nbsp;10500000 | &nbsp;&nbsp;10561523 |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250% | 02/15/28 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;10061328 |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500% | 11/15/28 | &nbsp;&nbsp;21000000 | &nbsp;&nbsp;20794102 |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625% | 04/30/29 | &nbsp;&nbsp;12000000 | &nbsp;&nbsp;12238125 |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375% | 12/31/29 | &nbsp;&nbsp;12500000 | &nbsp;&nbsp;12675781 |
| U.S. Treasury Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625% | 10/31/30 | &nbsp;&nbsp;21000000 | &nbsp;&nbsp;20675156 |
| **Total U.S. Treasury Obligations** (Cost $98,946,790) | **Total U.S. Treasury Obligations** (Cost $98,946,790) | **Total U.S. Treasury Obligations** (Cost $98,946,790) |  | $99090859 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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)** | |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coupon** | **Maturity** | **Par Value** |<br>**Value** |
| **Financials - 1.4%** | **Financials - 1.4%** | | | |
| NCP SPV Texas, L.P. Revolving Loan (Prime + 187) <sup>(b)(c)(d)</sup> <br> (Cost $5,785,097) | 8.620% | 09/19/26 | &nbsp;&nbsp;$5785098 | &nbsp;&nbsp;$5732685 |
| **Common Stocks - 1.9%** | **Common Stocks - 1.9%** |  | **Shares** | **Value** |
| **Materials - 1.9%** | **Materials - 1.9%** |  |  |  |
|  | Natural Resource Partners, L.P. (Cost $6,196,936) |  | &nbsp;&nbsp;69000 | &nbsp;&nbsp; <br> $8153040  |
| **Money Market Funds - 3.6%** | **Money Market Funds - 3.6%** |  | **Shares** | **Value** |
| Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 3.55% <sup>(e)</sup> (Cost $15,460,395) | Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 3.55% <sup>(e)</sup> (Cost $15,460,395) |  | &nbsp;&nbsp;15458289 | &nbsp;&nbsp;$15460395 |
| **Total Investments at Value - 99.0%** (Cost $415,996,016) | **Total Investments at Value - 99.0%** (Cost $415,996,016) | **Total Investments at Value - 99.0%** (Cost $415,996,016) |  | $420065395 |
| **Other Assets in Excess of Liabilities - 1.0%** | **Other Assets in Excess of Liabilities - 1.0%** | **Other Assets in Excess of Liabilities - 1.0%** |  | 4425637 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | **Net Assets - 100.0%** |  | $424491032 |

---

---

| | |
|:---|:---|
| 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 $63,746,330 as of April 30, 2026, representing 15.0% 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 April 30, 2026. 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 fair value of these securities as of April 30, 2026 was $29,738,657, representing 7.0% 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 $21,064,680 as of April 30, 2026, representing 5.0% of net assets.

<sup>(e)</sup> The rate shown is the 7-day effective yield as of April 30, 2026.

## 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 AND APPRECIATION FUND

- **b. EDGAR series identifier (if any):** S000045948

- **c. LEI of Series:** 5493007LJH1EW6ZTTY10

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

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

- **b. Date as of which information is reported:** 2026-04-30

**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:** $155965034.50

**Total Liabilities:** $499133.90

**Net Assets:** $155465900.60

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1016.68843718 | **1-Year:** 523.77467294 | **5-Year:** 4277.79983667 | **10-Year:** 1273.26618107 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 1284.35655532 | **5-Year:** 3633.89028126 | **10-Year:** 146.29643511 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000143294 | 1.01%                | -1.49%               | 1.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2329210.28              | $-1298730.20                               |
| Month 2  | $115217.61               | $-2890435.76                               |
| Month 3  | $0.00                    | $2265078.16                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LYFT INC                       | Lyft, Inc. 0.625%, Due 03/01/29                         | CUSIP: 55087PAD6<br>LEI: 549300H7I5VN334XVZ52 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6276600.00   | 4.04%             | 2029-03-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| SOUTHERN BANCSHARES INC        | Southern Bancshares 3.125%, Due 06/30/2031              | CUSIP: 842243AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2056628.49   | 1.32%             | 2031-06-30      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| SHORT-TERM INVESTMENTS TRUST   | Invesco Treasury Portfolio Institutional Class          | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  41630607 | NS      | $41630607.39  | 26.78%            |  |  |  | No            |                  1 | On Loan: No      |
| GARRETT MOTION HOLDINGS INC    | Garrett Motion Holdings 7.75%, Due 05/31/2032           | CUSIP: 366504AA6<br>LEI: 5493001N1N6Z0SR83G07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5218605.00   | 3.36%             | 2032-05-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| CNX RESOURCES CORP             | CNX Resources Corporation 7.25%, Due 03/01/2032         | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5207975.00   | 3.35%             | 2032-03-01      | Fixed         | 7.25%                 | Yes           |                  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        |   4130000 | PA      | $3990612.50   | 2.57%             | 2031-10-01      | Fixed         | 2.75%                 | Yes           |                  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        |   2621561 | PA      | $2329603.30   | 1.50%             | 2031-06-30      | Fixed         | 16.50%                | Yes           |                  2 | On Loan: No      |
| ETSY INC                       | Etsy, Inc. 0.250%, Due 06/15/2028                       | CUSIP: 29786AAN6<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3614000.00   | 2.32%             | 2028-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC         | Patrick Industries, Inc. 1.75%, Due 12/1/2028           | CUSIP: 703343AG8<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $3004000.00   | 1.93%             | 2028-12-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| HAEMONETICS CORP               | Haemonetics Corporation 2.50%, Due 06/01/2029           | CUSIP: 405024AD2<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4857000.00   | 3.12%             | 2029-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AVNET INC                      | Avnet, Inc. 1.75%, Due 09/01/2030                       | CUSIP: 053807AY9<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $6527500.00   | 4.20%             | 2030-09-01      | Fixed         | 1.75%                 | Yes           |                  2 | On Loan: No      |
| FIRST NATIONAL OF NEBRASKA INC | First National of Nebraska 7.25%, Due 06/15/2035        | CUSIP: 32119CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2067011.00   | 1.33%             | 2035-06-15      | Fixed         | 7.25%                 | Yes           |                  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        |   2000000 | PA      | $1982558.72   | 1.28%             | 2027-01-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| NATURAL RESOURCE PARTNERS LP   | NATURAL RESOURCE PARTNERS, L.P.                         | CUSIP: 63900P608<br>LEI: 529900EECJ7CSX1S1S58 | Long             | EC               | CORP              | US        |     48000 | NS      | $5671680.00   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitsit Solutions LLC           | GITSIT Solutions 8.0%, Due 11/15/2029                   | CUSIP: 37637LAA4<br>LEI: 549300MKO5TYUH4YQ218 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3502352.00   | 2.25%             | 2029-11-15      | Fixed         | 8.00%                 | 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        |   2000000 | PA      | $1984048.66   | 1.28%             | 2027-05-15      | Floating      | 4.58%                 | 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        |   1000000 | PA      | $1006567.45   | 0.65%             | 2031-01-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| CHEESECAKE FACTORY INC (THE)   | Cheesecake Factory Inc/The 2%, Due 03/15/2030           | CUSIP: 163072AC5<br>LEI: 529900872XMLK10SY247 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5510000.00   | 3.54%             | 2030-03-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC            | Global Payments Inc 1.5% Due 3/1/2031                   | CUSIP: 37940XAU6<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5385000.00   | 3.46%             | 2031-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC            | Spectrum Brands Incorporated 3.375%, Due 06/01/2029     | CUSIP: 84762LAZ8<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5093500.00   | 3.28%             | 2029-06-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CROCS INC                      | Crocs Inc. 4.125%, Due 08/15/2031                       | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5580974.04   | 3.59%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| BENTLEY SYSTEMS INC            | Bentley Systems 0.375%, Due 07/01/2027                  | CUSIP: 08265TAD1<br>LEI: 549300WVEHPGE0Z56F71 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5718000.00   | 3.68%             | 2027-07-01      | Fixed         | 0.38%                 | 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        |   2314039 | PA      | $2293073.84   | 1.47%             |  |  |  | No            |                  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        |   1990000 | PA      | $1994857.59   | 1.28%             | 2029-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES INC       | Winnebago Industries Incorporated 3.25%, Due 01/15/2030 | CUSIP: 974637AF7<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5565000.00   | 3.58%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ETSY INC                       | Etsy Inc 1% Due 06/15/2030                              | CUSIP: 29786AAP1<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3243000.00   | 2.09%             | 2030-06-15      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL INC     | Marriott International 4.90, Due 4/15/2029              | CUSIP: 571903BL6<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3035860.20   | 1.95%             | 2029-04-15      | Fixed         | 4.90%                 | No            |                  2 | 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        |   1755608 | PA      | $1760923.59   | 1.13%             | 2029-01-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| GUIDEWIRE SOFTWARE INC         | Guidewire Software, Inc. 1.25%, Due 11/01/2029          | CUSIP: 40171VAC4<br>LEI: 549300WXSG0J8IXZCK32 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5898750.00   | 3.79%             | 2029-11-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP          | Lincoln National Corporation                            | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     15673 | NS      | $592596.13    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NCPSNIP Revolving Loan 13.50%, Due 12/31/2027           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1800000 | PA      | $1802566.80   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

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

**Signature:** Sarah Criger

**Name of Signer:** Sarah Criger

**Title:** VP, Fund Accounting