# EDGAR Filing Document

**Accession Number:** 0001606378
**File Stem:** 0001752724-23-066334
**Filing Date:** 2023-3
**Character Count:** 26113
**Document Hash:** 9fa7155647f8cf3d16e526660c06b601
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-066334.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-066334

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20230731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eubel Brady & Suttman Mutual Fund Trust
- **CENTRAL INDEX KEY:** 0001606378
- **IRS NUMBER:** 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:** 23762114

**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           |

## 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:** 2023-07-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $158420975.53

**Total Liabilities:** $63502.43

**Net Assets:** $158357473.10

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 332.91179000 | **1-Year:** 4979.79443300 | **5-Year:** 3798.21576600 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 107.79325200 | **1-Year:** 1855.12988400 | **5-Year:** 883.49227600 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000143294 | 1.59%                | -0.17%               | 2.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $332204.54               | $1586701.32                                |
| Month 2  | $1564.57                 | $-797355.99                                |
| Month 3  | $4865.61                 | $2792361.19                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                                 | NCP SNIP Revolving Loan 13.50%, Maturity 12/31/2025           | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1668346.20   | 1.05%             |  |  |  | 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        |   2200000 | PA      | $1918742.91   | 1.21%             | 2031-06-30      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corporation   | Capital One Financial Corporation                             | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      9904 | NS      | $1178576.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Prospect Capital Corporation        | Prospect Capital Corporation 6.375%, Due 03/01/2025           | CUSIP: 74348TAT9<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |   2272000 | PA      | $2257913.60   | 1.43%             | 2025-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Short-Term Invts T                  | Invesco Short-Term Investments Trust Treasury Portfolio       | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  13671917 | PA      | $13671916.51  | 8.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Chegg Inc                           | Chegg, Inc. 0.0%, Due 09/01/2026                              | CUSIP: 163092AF6<br>LEI: 549300AKX7O8JG0O3G77 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2356800.00   | 1.49%             | 2026-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank OZK Little Rock Arkansas       | Bank of the Ozarks 2.75 % Due 10/1/31                         | CUSIP: 06417NA94<br>LEI: 549300VYK2WBD7SST478 | Long             | DBT              | CORP              | US        |   4130000 | PA      | $3551460.10   | 2.24%             | 2031-10-01      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| American Electric Power Co, Inc.    | American Electric Power Company, Inc. 2.031%, Due 03/15/2024  | CUSIP: 025537AK7<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2680000 | PA      | $2589058.27   | 1.63%             | 2024-03-15      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| Airbnb Inc                          | Airbnb, Inc. 0%, Due 3/15/2026                                | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5151000.00   | 3.25%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Consol Energy Inc New               | Consol Energy, Inc. 11%, Due 11/15/2025                       | CUSIP: 20854LAA6<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | DBT              | CORP              | US        |   2919000 | PA      | $2984677.50   | 1.88%             | 2025-11-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| DISH Network Corporation            | Dish Network Corporation 0%, Due 12/15/2025                   | CUSIP: 25470MAF6<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $2638000.00   | 1.67%             | 2025-12-15      | None          | 0.00%                 | No            |                  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      | $3597600.00   | 2.27%             | 2028-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Spotify USA Inc                     | Spotify USA Inc. 0.0%, Due 03/15/2026                         | CUSIP: 84921RAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5004000.00   | 3.16%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Patrick Inds Inc                    | Patrick Industries, Inc. 1.75%, Due 12/1/2028                 | CUSIP: 703343AG8<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2700000.00   | 1.71%             | 2028-12-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corporation             | Exxon Mobil Corporation 3.043%, Due 03/01/2026                | CUSIP: 30231GAT9<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $962515.70    | 0.61%             | 2026-03-01      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Company               | Wells Fargo & Company 3.75%, Due 01/24/2024                   | CUSIP: 95000U2C6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1874129.91   | 1.18%             | 2024-01-24      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc        | THERMO FISHER SCIENTIFIC 1.215% Due 10/18/24                  | CUSIP: 883556CS9<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3398728.10   | 2.15%             | 2024-10-18      | Fixed         | 1.22%                 | 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        |   2000000 | PA      | $1895086.66   | 1.20%             | 2027-01-15      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Etsy Inc                            | Etsy, Inc. 0.125%, Due 9/1/2027                               | CUSIP: 29786AAL0<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3084300.00   | 1.95%             | 2027-09-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Discovery Communications, LLC       | Discover Financial Services 3.95%, Due 06/15/2025             | CUSIP: 25470DBE8<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $964804.76    | 0.61%             | 2025-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Chegg Inc                           | Chegg, Inc. 0.125%, Due 03/15/2025                            | CUSIP: 163092AD1<br>LEI: 549300AKX7O8JG0O3G77 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2638500.00   | 1.67%             | 2025-03-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Markel Corporation                  | Markel Corporation 6.0%, Perpetual Maturity                   | CUSIP: 570535AW4<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4961071.00   | 3.13%             | 2099-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Laboratory Corp of America Holdings | LABORATORY CORP OF AMERICA 3.600%, DUE 02/01/2025             | CUSIP: 50540RAQ5<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4379659.47   | 2.77%             | 2025-02-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| AmerisourceBergen Corporation       | Amerisource Bergen Corporation .767%, due 3/15/2023           | CUSIP: 03073EAS4<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1482735.94   | 0.94%             | 2023-03-15      | Fixed         | 0.74%                 | No            |                  2 | On Loan: No      |
| DH Europe Finance II SARL           | Danaher Corp 2.20%, Due 11/15/2024                            | CUSIP: 23291KAG0<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | US        |   1492000 | PA      | $1431908.94   | 0.90%             | 2024-11-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                | M&T Bank Corporation Floater, Due 07/26/2023                  | CUSIP: 55261FAK0<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1510411.08   | 0.95%             | 2023-07-26      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Discovery Communications, LLC       | Discovery Communications 3.8%, Due 03/13/2024                 | CUSIP: 25470DAM1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   2085000 | PA      | $2048889.53   | 1.29%             | 2024-03-13      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| General Electric Company            | General Electric Company Floating Rate, Due 03/15/2023        | CUSIP: 36966THT2<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000830.05   | 0.63%             | 2023-03-15      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| McKesson Corporation                | MCKESSON CORP .9%, Due 12/03/2025                             | CUSIP: 581557BQ7<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3495055.16   | 2.21%             | 2025-12-03      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co., L.P.      | Penske Truck Leasing Company, L.P. 4.125%, Due 08/01/2023     | CUSIP: 709599BC7<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1123930.53   | 0.71%             | 2023-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Redwood Trust Inc                   | Redwood Trust Holdings Inc. 4.75%, 08/15/2023                 | CUSIP: 758075AC9<br>LEI: DRBV4N1ERQLEMIF11G78 | Long             | DBT              | CORP              | US        |   4700000 | PA      | $4617750.00   | 2.92%             | 2023-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                      | Citigroup Inc 1.678% DUE 05/15/2024                           | CUSIP: 172967MR9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2359000 | PA      | $2335551.23   | 1.47%             | 2024-05-15      | Fixed         | 1.68%                 | No            |                  2 | On Loan: No      |
| SunTrust Capital I                  | Truist Financial Corporation Floater, Due 05/15/2027          | CUSIP: 86787XAA3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1889940.18   | 1.19%             | 2027-05-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Republic Services, Inc.             | REPUBLIC SERVICES, INC. 2.5%, Due 08/15/2024                  | CUSIP: 760759AU4<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    849000 | PA      | $818949.56    | 0.52%             | 2024-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                | Steel Dynamics, Inc. 2.8%, Due 12/15/2024                     | CUSIP: 858119BJ8<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1919989.32   | 1.21%             | 2024-12-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| Bentley Systems Incorporated        | Bentley Systems Inc 0.125%, Due 1/15/2026                     | CUSIP: 08265TAB5<br>LEI: 549300WVEHPGE0Z56F71 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4620000.00   | 2.92%             | 2026-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation      | Schwab Charles Corp .9%, Due 03/11/2026                       | CUSIP: 808513BF1<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2682622.92   | 1.69%             | 2026-03-11      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Dupont De Nemours Inc               | DowDuPont, Inc. 4.493%, due 11/15/2025                        | CUSIP: 26078JAC4<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |   1345000 | PA      | $1342608.85   | 0.85%             | 2025-11-15      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Hope Bancorp Inc                    | Hope Bancorp, Inc. 2.0%, Due 05/15/2038                       | CUSIP: 43940TAB5<br>LEI: 549300UTF4QGMBHIZ219 | Long             | DBT              | CORP              | US        |   4720000 | PA      | $4620880.00   | 2.92%             | 2038-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CNG Holdings, Inc.                  | CNG Holdings, Inc. 12.50%, Due 06/15/2024                     | CUSIP: 12612DAH9<br>LEI: 5493007UWN8DW8ZWF476 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2291625.00   | 1.45%             | 2024-06-15      | Fixed         | 12.50%                | Yes           |                  2 | On Loan: No      |
| Docusign Inc                        | Docusign, Inc. 0.00%, due 1/15/2024                           | CUSIP: 256163AD8<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5703000.00   | 3.60%             | 2024-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| The Kroger Co.                      | Kroger Company (The) 3.85%, Due 08/01/2023                    | CUSIP: 501044CS8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $994300.78    | 0.63%             | 2023-08-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Ball Corporation                    | Ball Corporation 4.00%, DUE 11/15/2023                        | CUSIP: 058498AS5<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1971580.00   | 1.25%             | 2023-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DISH Network Corporation            | Dish Network Corporation 2.375%, Due 03/15/2024               | CUSIP: 25470MAD1<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1853000.00   | 1.17%             | 2024-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.           | Goldman Sachs Group, Inc. FR, due 2/23/2023                   | CUSIP: 38141GWU4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500171.16    | 0.32%             | 2023-02-23      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation         | Bank of America, Corp Perpetual Bond 6.250% fixed-to-floating | CUSIP: 060505EH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2010000.00   | 1.27%             | 2165-03-05      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| N/A                                 | NCP SPV Revolving Loan Maturity 09/22/2024                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3205629 | PA      | $3363019.33   | 2.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Envestnet Inc                       | Envestnet, Inc. 0.75%, Due 08/15/2025                         | CUSIP: 29404KAE6<br>LEI: 549300HLWZ5OKIDM8737 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5115000.00   | 3.23%             | 2025-08-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Guidewire Software Inc              | Guidewire Software, Inc. 1.25%, Due 03/15/2025                | CUSIP: 40171VAA8<br>LEI: 549300WXSG0J8IXZCK32 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4797500.00   | 3.03%             | 2025-03-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                  | Ford Motor Company Zero Coupon, Due 03/15/2026                | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3060000.00   | 1.93%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Huntington Ingalls Industries, Inc. | Huntington Ingalls Industries 0.67%, Due 08/16/2023           | CUSIP: 446413AW6<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3417126.27   | 2.16%             | 2023-08-16      | Fixed         | 0.67%                 | No            |                  2 | On Loan: No      |
| Patrick Inds Inc                    | Patrick Industries, Inc. 1.00%, Due 02/01/2023                | CUSIP: 703343AB9<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1999743.08   | 1.26%             | 2023-02-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Ares Capital Corporation            | Ares Capital Corporation 4.625%, due 03/01/2024               | CUSIP: 04010LAW3<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2133000.00   | 1.35%             | 2024-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tripadvisor Inc                     | TripAdvisor, Inc. 0.25%, Due 04/01/2026                       | CUSIP: 896945AD4<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3374000.00   | 2.13%             | 2026-04-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Lincoln National Corporation        | Lincoln National Corporation                                  | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     15673 | NS      | $555294.39    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kroger Co.                      | Kroger Company (The) 2.650% Due 10/15/2026                    | CUSIP: 501044DE8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1866173.98   | 1.18%             | 2026-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

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

**Signature:** Brian Lutes

**Name of Signer:** Brian Lutes

**Title:** SVP, Fund Accounting