Form NT NPORT-P Eubel Brady & Suttman For: Oct 31

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January 25, 2022 10:49 AM EST

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    NPORT-P
    false
    
      
      
        
          0001606378
          XXXXXXXX
        
      
      
      
        S000045949
        C000143295
      
      
    
  
  
    
      Eubel Brady & Suttman Mutual Fund Trust
      811-22960
      0001606378
      549300DOIRLUVPKFB434
      10100 Innovation Drive
      Suite 410
      Dayton
      
      45342
      937-291-1223
      EUBEL BRADY & SUTTMAN INCOME FUND
      S000045949
      549300SMV3PYPPLKT605
      2022-07-31
      2021-10-31
      N
    
    
      320244696.72
      2059453.22
      318185243.50
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00
      
        
          USD
          
          
        
      
      
      
      N
      
        
          
        
        
        
        
      
      
      
      
      
    
    
      
        United States Treasury Notes
        254900HROIFWPRGM1V77
        U.S. Treasury Notes .375%, Due 07/31/2027
        91282CAD3
        
          
        
        10000000.00000000
        PA
        USD
        9489843.80000000
        2.982490229783
        Long
        DBT
        UST
        US
        
        N
        
        2
        
          2027-07-31
          Fixed
          0.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Citigroup Inc.
        6SHGI4ZSSLCXXQSBB395
        Citigroup, Inc. 2.900%, Due 12/08/2021
        172967LC3
        
          
        
        2220000.00000000
        PA
        USD
        2221012.59000000
        0.698025013847
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-12-08
          Fixed
          2.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Goldman Sachs Group, Inc.
        784F5XWPLTWKTBV3E584
        Goldman Sachs Group, Inc. Floating Rate Note, Due 07/24/2023
        38141GWN0
        
          
        
        5500000.00000000
        PA
        USD
        5526987.62000000
        1.737034552326
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-07-24
          Floating
          1.12524840
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        Round Up Ventures, LP 15%, Due 03/06/2025
        N/A
        
          
        
        5108993.76000000
        PA
        USD
        5283241.10000000
        1.660429327861
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        N/A
        N/A
        NCP SPV REVOLVING LOAN MATURITY 11/30/2022
        N/A
        
          
        
        5359999.77000000
        PA
        USD
        5397417.93000000
        1.696313088133
        Long
        LON
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Goldman Sachs Group, Inc.
        784F5XWPLTWKTBV3E584
        Goldman Sachs Group, Inc. FR, due 2/23/2023
        38141GWU4
        
          
        
        2500000.00000000
        PA
        USD
        2516274.40000000
        0.790820583733
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-02-23
          Floating
          0.88075080
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AGRICULTURAL BANK OF CHINA NY BR
        N/A
        AGRICULTURAL BK CHINA LTD N Y 0% CP 11/15/2021 
        00850UYF5
        
          
        
        7000000.00000000
        PA
        USD
        6999349.14000000
        2.199771762828
        Long
        STIV
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Short-Term Invts T
        549300UJV6OHYATSFU27
        Invesco Short-Term Investments Trust Treasury Portfolio
        825252406
        
          
        
        74202053.14000000
        PA
        USD
        74202053.14000000
        23.32039422186
        Long
        STIV
        RF
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AbbVie Inc.
        FR5LCKFTG8054YNNRU85
        AbbVie, Inc. 2.90%, Due 11/06/2022
        00287YAL3
        
          
        
        7275000.00000000
        PA
        USD
        7440288.00000000
        2.338351055554
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-11-06
          Fixed
          2.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        The Charles Schwab Corporation
        549300VSGCJ7E698NM85
        Schwab Charles Corp .9%, Due 03/11/2026
        808513BF1
        
          
        
        7000000.00000000
        PA
        USD
        6871447.87000000
        2.159574653561
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2026-03-11
          Fixed
          0.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        First Maryland Capital I
        N/A
        First Maryland Capital I FRN, Due 01/15/2027
        320808AD0
        
          
        
        5000000.00000000
        PA
        USD
        4884296.65000000
        1.535048136196
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2027-01-15
          Floating
          1.12613040
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Duke Energy Florida, LLC
        7MOHLM3DKE63RX2ZCN83
        Duke Energy Corporation Floating, Due 11/26/2021
        26444HAG6
        
          
        
        3000000.00000000
        PA
        USD
        3000576.30000000
        0.943028113747
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-11-26
          Floating
          0.37175040
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        McKesson Corporation
        549300WZWOM80UCFSF54
        MCKESSON CORP .9%, Due 12/03/2025
        581557BE4
        
          
        
        10465000.00000000
        PA
        USD
        10203066.70000000
        3.206643585279
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2025-12-03
          Fixed
          0.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        The Kroger Co.
        6CPEOKI6OYJ13Q6O7870
        Kroger Company (The) 2.950%, Due 11/01/2021
        501044CZ2
        
          
        
        5206000.00000000
        PA
        USD
        5206000.00000000
        1.636153814908
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-11-01
          Fixed
          2.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Pershing Square Holdings, Ltd.
        U7LC4KOKCTZ0YWGI2G56
        Pershing Square Holdings Ltd. 5.5% Due 07/15/2022, Callable 6/15/2022
        71531QAA9
        
          
        
        5000000.00000000
        PA
        USD
        5130490.00000000
        1.612422356098
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2022-07-15
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Enbridge U S Inc
        5493003FRODSVHJWFS32
        ENBRIDGE U S INC DISC COML PAP 0% CP 11/03/2021 
        29251UY36
        
          
        
        11000000.00000000
        PA
        USD
        10999172.03000000
        3.456845424071
        Long
        STIV
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Penske Truck Leasing Co., L.P.
        549300ZX07JYMI8GHQ39
        Penske Truck Leasing 2.70%, Due 03/14/2023
        709599AY0
        
          
        
        5000000.00000000
        PA
        USD
        5121387.20000000
        1.609561506896
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2023-03-14
          Fixed
          2.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMorgan Chase & Co.
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Company FRN, due 10/24/2023
        46625HRW2
        
          
        
        2115000.00000000
        PA
        USD
        2139384.19000000
        0.672370650023
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-10-24
          Floating
          1.35388080
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Penske Truck Leasing Co., L.P.
        549300ZX07JYMI8GHQ39
        Penske Truck Leasing Company, L.P. 4.125%, Due 08/01/2023
        709599BC7
        
          
        
        1000000.00000000
        PA
        USD
        1052246.63000000
        0.330702523607
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2023-08-01
          Fixed
          4.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        SPV Finance Bank Loans Uncomitted balance
        N/A
        
          
        
        1340000.23000000
        PA
        USD
        0.00000000
        0.000000
        Long
        LON
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Cabot Corporation
        K05C0SER542GQ6VLRO68
        Cabot Corporation 3.70%,  Due 07/15/2022
        127055AH4
        
          
        
        3980000.00000000
        PA
        USD
        4066774.47000000
        1.278115359865
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-07-15
          Fixed
          3.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Discovery Communications, LLC
        L2Z2MO2EQURH3BREWI15
        Discover Communications LLC 4.90%, Due 03/11/2026
        25470DAL3
        
          
        
        1000000.00000000
        PA
        USD
        1127540.16000000
        0.354365949720
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2026-03-11
          Fixed
          4.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Becton, Dickinson and Company
        ICE2EP6D98PQUILVRZ91
        Becton Dickinson and Company Floating, Due 06/06/2022
        075887BU2
        
          
        
        5825000.00000000
        PA
        USD
        5856007.29000000
        1.840439621141
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-06-06
          Floating
          1.14762960
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Thermo Fisher Scientific Inc
        HCHV7422L5HDJZCRFL38
        Thermo Fisher Scientific, Inc. 4.133%, Due 03/25/2025
        883556CF7
        
          
        
        5000000.00000000
        PA
        USD
        5456674.90000000
        1.714936506789
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2025-03-25
          Fixed
          4.13300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Morgan Stanley
        IGJSJL3JD5P30I6NJZ34
        Morgan Stanley 4.875%, Due 11/01/2022
        6174824M3
        
          
        
        3100000.00000000
        PA
        USD
        3231366.84000000
        1.015561502618
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-11-01
          Fixed
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Steel Dynamics, Inc.
        549300HGGKEL4FYTTQ83
        Steel Dynamics, Inc. 2.8%, Due 12/15/2024
        858119BJ8
        
          
        
        2696000.00000000
        PA
        USD
        2819477.53000000
        0.886111970180
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2024-12-15
          Fixed
          2.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        General Electric Company
        3C7474T6CDKPR9K6YT90
        General Electric Company Floating Rate, Due 03/15/2023
        36966THT2
        
          
        
        5000000.00000000
        PA
        USD
        5059669.65000000
        1.590164771421
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-03-15
          Floating
          1.11800160
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VW Credit, Inc.
        549300UUPJ2NXDB68M19
        VW CREDIT INC 0% CP 12/02/2021 DOMINION RES INC VA 0% CP 11/18/2021
        91842JZ28
        
          
        
        9500000.00000000
        PA
        USD
        9498609.30000000
        2.985245071555
        Long
        STIV
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Dominion Energy Inc
        ILUL7B6Z54MRYCF6H308
        Hyundai Capital America, Inc. CP 09/16/2021 DOMINION RES INC VA 0% CP 11/18/2021
        2574P0YJ7
        
          
        
        9500000.00000000
        PA
        USD
        9499372.05000000
        2.985484790403
        Long
        STIV
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Ball Corporation
        0BGI85ALH27ZJP15DY16
        Ball Corporation 5.250%, DUE 07/01/2025
        058498AT3
        
          
        
        2336000.00000000
        PA
        USD
        2604242.88000000
        0.818467522677
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2025-07-01
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Fidelity National Information Services Inc
        6WQI0GK1PRFVBA061U48
        Fidelity National Information CP 11/12/2021 
        31621YYC7
        
          
        
        9500000.00000000
        PA
        USD
        9499404.16000000
        2.985494882008
        Long
        STIV
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        United States Treasury Notes
        254900HROIFWPRGM1V77
        U.S. Treasury Notes 0.25%, Due 06/30/2025
        912828ZW3
        
          
        
        10000000.00000000
        PA
        USD
        9743750.00000000
        3.062288462161
        Long
        DBT
        UST
        US
        
        N
        
        2
        
          2025-06-30
          Fixed
          0.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CNG Holdings, Inc.
        5493007UWN8DW8ZWF476
        CNG Holdings, Inc. 12.50%, Due 06/15/2024
        12612DAH9
        
          
        
        6300000.00000000
        PA
        USD
        5953500.00000000
        1.871079857290
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2024-06-15
          Fixed
          12.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Barclays Bank Plc / Barclays Us Ccp Funding Llc
        N/A
        Barclays Bank plc CP 11/24/2021 
        06742XTT4
        
          
        
        8895000.00000000
        PA
        USD
        8894431.79000000
        2.795362755406
        Long
        ABS-APCP
        CORP
        US
        
        N
        
        2
        
          2021-11-24
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Roper Technologies Inc
        54930003T4SXCIWVXY35
        Roper Technologies, Inc. 2.800%, Due 12/15/2021
        776743AC0
        
          
        
        5703000.00000000
        PA
        USD
        5708187.56000000
        1.793982491837
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-12-15
          Fixed
          2.80000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States Treasury Notes
        254900HROIFWPRGM1V77
        U.S. Treasury Notes .75%, Due 03/31/2026
        91282CBT7
        
          
        
        10000000.00000000
        PA
        USD
        9839453.10000000
        3.092366255508
        Long
        DBT
        UST
        US
        
        N
        
        2
        
          2026-03-31
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Consol Energy Inc New
        549300YJCTPJBTK7IJ81
        Consol Energy, Inc. 11%, Due 11/15/2025
        20854LAA6
        
          
        
        5700000.00000000
        PA
        USD
        5814000.00000000
        1.827237472123
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2025-11-15
          Fixed
          11.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Bank Ozk
        549300VYK2WBD7SST478
        Bank of the Ozarks 2.75 % Due 10/1/31
        06417NA94
        
          
        
        6260000.00000000
        PA
        USD
        6256689.15000000
        1.966366850070
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2031-10-01
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SunTrust Capital I
        549300DRQQI75D2JP341
        SunTrust Banks, Inc. FRN%, Due 05/15/2027
        86787XAA3
        
          
        
        5788000.00000000
        PA
        USD
        5675133.59000000
        1.783594213098
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2027-05-15
          Floating
          0.78999840
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Hyndai Capital America
        549300RIPPWJB5Z0FK07
        HYUNDAI CAP AMER INC 0% CP 11/17/2021 
        44890MYH9
        
          
        
        8000000.00000000
        PA
        USD
        7999573.28000000
        2.514124537016
        Long
        STIV
        CORP
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        Sthn Bancshares Nc
        N/A
        Southern Bancshares 3.125%, Due 06/30/2031
        842243AB3
        
          
        
        5800000.00000000
        PA
        USD
        5827296.48000000
        1.831416320851
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2031-06-30
          Fixed
          3.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Marriott International, Inc.
        225YDZ14ZO8E1TXUSU86
        Marriott International, Inc. 2.30%, Due 01/15/2022
        571903AR4
        
          
        
        2000000.00000000
        PA
        USD
        2004132.30000000
        0.629863370769
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-01-15
          Fixed
          2.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Bank of America Corporation
        9DJT3UXIJIZJI4WXO774
        Bank of America, Corp Perpetual Bond 6.250% fixed-to-floating
        060505EH3
        
          
        
        4000000.00000000
        PA
        USD
        4360000.00000000
        1.370270962927
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2165-03-05
          Fixed
          6.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Verizon Communications Inc.
        2S72QS2UO2OESLG6Y829
        Verizon Communications, Inc. Floating Rate Note, due 03/16/2022
        92343VDX9
        
          
        
        5000000.00000000
        PA
        USD
        5017651.50000000
        1.576959209297
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-03-16
          Floating
          1.11800160
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JPMorgan Chase & Co.
        8I5DZWZKVSZI1NUHU748
        JPMorgan Chase & Company 2.7%, Due 05/18/2023
        46625HRL6
        
          
        
        3000000.00000000
        PA
        USD
        3088054.44000000
        0.970520947493
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-05-18
          Fixed
          2.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      2021-11-29
      Eubel Brady & Suttman Income Fund
      Brian Lutes
      Brian Lutes
      SVP, Fund Accounting
    
  
  XXXX

RIL

EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND
SCHEDULE OF INVESTMENTS
October 31, 2021 (Unaudited)

	Corporate Bonds - 53.8%	Coupon	Maturity	Par Value	Value
Communications - 4.3%
	Discovery Communications, LLC	2.950%	03/20/23	$ 900,000	$ 926,604
	Discovery Communications, LLC	3.800%	03/13/24	2,085,000	2,211,142
	Verizon Communications, Inc. (3MO LIBOR + 100) ^(a)	1.118%	03/16/22	2,100,000	2,107,414
					5,245,160
Consumer Discretionary - 1.9%
	AutoZone, Inc.	3.700%	04/15/22	2,250,000	2,264,838

Consumer Staples - 1.1%
	Honeywell International, Inc.	0.483%	08/19/22	219,000	218,981
	Kroger Company (The)	3.850%	08/01/23	1,000,000	1,048,653
					1,267,634
Energy - 3.4%
	CONSOL Energy, Inc., 144A	11.000%	11/15/25	3,000,000	3,060,000
	Exxon Mobil Corporation	3.043%	03/01/26	1,000,000	1,067,060
					4,127,060
Financials - 23.4%
	Bank of America Corporation (3MO LIBOR + 370.5, effective 09/05/24) ^{(a) (b)}	6.250%	03/05/65	2,000,000	2,180,000
	Bank of OZK (SOFR + 2.09, effective 10/01/26) ^(a)	2.750%	10/01/31	2,420,000	2,418,720
	Charles Schwab Corporation (The)	0.900%	03/11/26	3,000,000	2,944,906
	CNG Holdings, Inc., 144A	12.500%	06/15/24	2,700,000	2,551,500
	First Maryland Capital I (3MO LIBOR + 100) ^(a)	1.124%	01/15/27	2,000,000	1,953,719
	Goldman Sachs Group, Inc. (The) (3MO LIBOR + 75) ^(a)	0.881%	02/23/23	500,000	503,255
	Goldman Sachs Group, Inc. (The) (3MO LIBOR + 100) ^(a)	1.124%	07/24/23	2,500,000	2,512,267
	JPMorgan Chase & Company (3MO LIBOR + 123) ^(a)	1.354%	10/24/23	2,000,000	2,023,058
	Pershing Square Holdings Ltd., 144A	5.500%	07/15/22	2,500,000	2,565,245
	Round Up Ventures, L.P. ^{(c) (d) (e)}	15.000%	03/06/25	2,341,622	2,421,486
	Southern Bancshares (N.C.), Inc. (SOFR + 2.41, effective 06/30/26) ^(a)	3.125%	06/30/31	2,200,000	2,210,354
	Truist Bank (3MO LIBOR + 67) ^(a)	0.790%	05/15/27	2,000,000	1,961,000
	Wells Fargo & Company	3.750%	01/24/24	1,895,000	2,010,667
					28,256,177

EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND
SCHEDULE OF INVESTMENTS (Continued)

	Corporate Bonds - 53.8% (Continued)	Coupon	Maturity	Par Value	Value
Health Care - 11.9%
	AbbVie, Inc.	2.900%	11/06/22	$ 3,000,000	$ 3,068,160
	AmerisourceBergen Corporation	0.737%	05/15/23	3,380,000	3,381,921
	Becton, Dickinson and Company (3MO LIBOR + 103) ^(a)	1.148%	06/06/22	2,615,000	2,628,920
	Danaher Corporation	2.200%	11/15/24	1,492,000	1,543,099
	McKesson Corporation	0.900%	12/03/25	3,900,000	3,802,385
					14,424,485
Industrials - 4.8%
	General Electric Company (3MO LIBOR + 100) ^(a)	1.116%	03/15/23	1,000,000	1,011,934
	Penske Truck Leasing Company, L.P., 144A	4.125%	08/01/23	1,130,000	1,189,039
	Republic Services, Inc.	2.500%	08/15/24	849,000	882,070
	Roper Technologies, Inc.	2.800%	12/15/21	2,700,000	2,702,456
					5,785,499
Materials - 3.0%
	DowDuPont, Inc.	4.493%	11/15/25	1,345,000	1,496,561
	Steel Dynamics, Inc.	2.800%	12/15/24	2,000,000	2,091,601
					3,588,162

Total Corporate Bonds (Cost $64,131,379)					$ 64,959,015

	Convertible Bonds - 12.0%	Coupon	Maturity	Par Value	Value
Communications - 3.0%
	Twitter, Inc., 144A	0.000%	03/15/26	$ 4,000,000	$ 3,665,830

Consumer Discretionary - 1.8%
	Patrick Industries, Inc.	1.000%	02/01/23	2,000,000	2,204,954

Financials - 5.6%
	Ares Capital Corporation	4.625%	03/01/24	2,000,000	2,272,600
	Hope Bancorp, Inc.	2.000%	05/15/38	1,720,000	1,675,934
	Redwood Trust, Inc.	4.750%	08/15/23	2,700,000	2,754,000
					6,702,534
Technology - 1.6%
	Palo Alto Networks, Inc.	0.750%	07/01/23	1,000,000	1,923,393

Total Convertible Bonds (Cost $13,021,641)					$ 14,496,711

EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND
SCHEDULE OF INVESTMENTS (Continued)

	Bank Debt - 2.6%	Coupon	Maturity	Par Value	Value
Financials - 2.2%
	NCP SPV Texas, L.P. Revolving Loan (Prime + 275) ^{(a) (c) (e)}	6.000%	11/30/22	$ 2,640,000	$ 2,658,430

Materials - 0.4%
	Ball Metalpack, LLC (3MO LIBOR + 450) ^(a)	4.621%	07/26/25	483,750	483,145

Total Bank Debt (Cost $3,121,331)					$ 3,141,575

Common Stocks - 2.2%				Shares	Value
Financials - 2.2%
	Capital One Financial Corporation			9,904	$ 1,495,801
	Lincoln National Corporation			15,673	1,130,807
	Total Common Stocks (Cost $934,971)				$ 2,626,608


Commercial Paper - 19.1% ^(f)				Par Value	Value
Agricultural Bank of China Ltd., 0.0009%, due 11/15/21				$ 3,000,000	2,999,721
Amcor Flexibles, Inc., 0.14%, due 11/01/21				2,000,000	2,000,000
Consolidated Edison, Inc., 0.11%, due 11/19/21				3,500,000	3,499,807
Dominion Energy, Inc., 0.14%, due 11/18/21				3,500,000	3,499,769
Enbridge, Inc., 0.17%, due 11/03/31				4,000,000	3,999,699
Fidelity National Information Services, Inc., 0.21%, due 11/12/21				3,500,000	3,499,780
VW Credit, Inc., 0.17%, due 12/02/21				3,500,000	3,499,488
Total Commercial Paper (Cost $22,998,264)					$ 22,998,264


Money Market Funds - 9.7%				Shares	Value
Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 0.01% ^(g) (Cost $11,751,047)				11,751,047	$ 11,751,047

Total Investments at Value - 99.4% (Cost $115,958,633)					$ 119,973,220

Other Assets in Excess of Liabilities - 0.6%					743,643

Net Assets - 100.0%					$ 120,716,863

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 $13,031,614 as of October 31, 2021, representing 10.8% of net assets.

LIBOR -	London Interbank Offered Rate.
SOFR -	Secured Overnight Financing Rate.

^(a)	Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of October 31, 2021. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically.
^(b)	Security has a perpetual maturity date.
^(c)	Illiquid security. The total fair value of these securities as of October 31, 2021 was $5,079,916, representing 4.2% of net assets.
^(d)	Payment-in-kind bond. The rate shown is the coupon rate of 11.0% and the payment-in-kind rate of 4.0%.
^(e)	Security has been fair 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 these securities as if October 31, 2021 was $5,079,916, representing 4.2% of net assets.
^(f)	The rate shown is the annualized yield at the time of purchase, not a coupon rate.
^(g)	The rate shown is the 7-day effective yield as of October 31, 2021.

EUBEL BRADY & SUTTMAN INCOME FUND
SCHEDULE OF INVESTMENTS
October 31, 2021 (Unaudited)

Corporate Bonds - 46.1%	Coupon	Maturity	Par Value	Value
Communications - 1.9%
Discovery Communications, LLC	4.900%	03/11/26	$ 1,000,000	$ 1,127,540
Verizon Communications, Inc. (3MO LIBOR + 100) ^(a)	1.118%	03/16/22	5,000,000	5,017,652
				6,145,192
Consumer Discretionary - 0.6%
Marriott International, Inc.	2.300%	01/15/22	2,000,000	2,004,132

Consumer Staples - 1.7%
Kroger Company (The)	2.950%	11/01/21	5,206,000	5,206,000

Energy - 1.8%
CONSOL Energy, Inc., 144A	11.000%	11/15/25	5,700,000	5,814,000

Financials - 21.7%
Bank of America Corporation (3MO LIBOR + 370.5, effective 09/05/24) ^{(a) (b)}	6.250%	03/05/65	4,000,000	4,360,000
Bank of OZK (SOFR + 2.09, effective 10/01/26) ^(a)	2.750%	10/01/31	6,260,000	6,256,689
Charles Schwab Corporation (The)	0.900%	03/11/26	7,000,000	6,871,448
Citigroup, Inc.	2.900%	12/08/21	2,220,000	2,221,013
CNG Holdings, Inc., 144A	12.500%	06/15/24	6,300,000	5,953,500
First Maryland Capital I (3MO LIBOR + 100) ^(a)	1.124%	01/15/27	5,000,000	4,884,297
Goldman Sachs Group, Inc. (The) (3MO LIBOR + 75) ^(a)	0.881%	02/23/23	2,500,000	2,516,274
Goldman Sachs Group, Inc. (The) (3MO LIBOR + 100) ^(a)	1.124%	07/24/23	5,500,000	5,526,988
JPMorgan Chase & Company	2.700%	05/18/23	3,000,000	3,088,054
JPMorgan Chase & Company (3MO LIBOR + 123) ^(a)	1.354%	10/24/23	2,115,000	2,139,384
Morgan Stanley	4.875%	11/01/22	3,100,000	3,231,367
Pershing Square Holdings Ltd., 144A	5.500%	07/15/22	5,000,000	5,130,490
Round Up Ventures, L.P. ^{(c) (d) (e)}	15.000%	03/06/25	5,108,994	5,283,241
Southern Bancshares (N.C.), Inc. (SOFR + 2.41, effective 06/30/26) ^(a)	3.125%	06/30/31	5,800,000	5,827,296
Truist Bank (3MO LIBOR + 67) ^(a)	0.790%	05/15/27	5,788,000	5,675,134
				68,965,175

EUBEL BRADY & SUTTMAN INCOME FUND
SCHEDULE OF INVESTMENTS (Continued)

Corporate Bonds - 46.1% (Continued)	Coupon	Maturity	Par Value	Value
Health Care - 9.1%
AbbVie, Inc.	2.900%	11/06/22	$ 7,275,000	$ 7,440,288
Becton, Dickinson and Company (3MO LIBOR + 103) ^(a)	1.148%	06/06/22	5,825,000	5,856,007
McKesson Corporation	0.900%	12/03/25	10,465,000	10,203,067
Thermo Fisher Scientific, Inc.	4.133%	03/25/25	5,000,000	5,456,675
				28,956,037
Industrials - 5.3%
General Electric Company (3MO LIBOR + 100) ^(a)	1.116%	03/15/23	5,000,000	5,059,670
Penske Truck Leasing Company, L.P., 144A	2.700%	03/14/23	5,000,000	5,121,387
Penske Truck Leasing Company, L.P., 144A	4.125%	08/01/23	1,000,000	1,052,247
Roper Technologies, Inc.	2.800%	12/15/21	5,703,000	5,708,187
				16,941,491
Materials - 3.0%
Ball Corporation	5.250%	07/01/25	2,336,000	2,604,243
Cabot Corporation	3.700%	07/15/22	3,980,000	4,066,774
Steel Dynamics, Inc.	2.800%	12/15/24	2,696,000	2,819,478
				9,490,495
Utilities - 1.0%
Duke Energy Corporation (3MO LIBOR + 25) ^(a)	0.372%	11/26/21	3,000,000	3,000,576

Total Corporate Bonds (Cost $145,533,122)				$ 146,523,098

U.S. Treasury Obligations - 9.1%	Coupon	Maturity	Par Value	Value
U.S. Treasury Notes	0.250%	06/30/25	$ 10,000,000	$ 9,743,750
U.S. Treasury Notes	0.750%	03/31/26	10,000,000	9,839,453
U.S. Treasury Notes	0.375%	07/31/27	10,000,000	9,489,844
Total U.S. Treasury Obligations (Cost $29,342,696)				$ 29,073,047


Bank Debt - 1.7%	Coupon	Maturity	Par Value	Value
Financials - 1.7%
NCP SPV Texas, L.P. Revolving Loan (Prime + 275) ^{(a) (c) (e)} (Cost $5,360,000)	6.000%	11/30/22	$ 5,360,000	$ 5,397,418

EUBEL BRADY & SUTTMAN INCOME FUND
SCHEDULE OF INVESTMENTS (Continued)

Commercial Paper - 19.9% ^(f)	Par Value	Value
Agricultural Bank of China Ltd., 0.0009%, due 11/15/21	$ 7,000,000	$ 6,999,349
Barclays Bank plc, 0.10%, due 11/24/21	8,895,000	8,894,432
Dominion Energy, Inc., 0.14%, due 11/18/21	9,500,000	9,499,372
Enbridge, Inc., 0.17%, due 11/03/31	11,000,000	10,999,172
Fidelity National Information Services, Inc., 0.21%, due 11/12/21	9,500,000	9,499,404
Hyundai Capital America, Inc., 0.12%, due 11/17/21	8,000,000	7,999,573
VW Credit, Inc., 0.17%, due 12/02/21	9,500,000	9,498,610
Total Commercial Paper (Cost $63,389,912)		$ 63,389,912


Money Market Funds - 23.3%	Shares	Value
Invesco Short-Term Investments Trust - Treasury Portfolio - Institutional Class, 0.01% ^(g) (Cost $74,202,053)	74,202,053	$ 74,202,053

Total Investments at Value - 100.1% (Cost $317,827,783)		$ 318,585,528

Liabilities in Excess of Other Assets - (0.1%)		(400,284)

Net Assets - 100.0%		$ 318,185,244

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 $23,071,624 as of October 31, 2021, representing 7.3% of net assets.

LIBOR -	London Interbank Offered Rate.
SOFR -	Secured Overnight Financing Rate.

^(a)	Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of October 31, 2021. For securities based on a published reference rate and spread, the reference rate and spread (in basis points) are indicated parenthetically.
^(b)	Security has a perpetual maturity date.
^(c)	Illiquid security. The total fair value of these securities as of October 31, 2021 was $10,680,659, representing 3.4% of net assets.
^(d)	Payment-in-kind bond. The rate shown is the coupon rate of 11.0% and the payment-in-kind rate of 4.0%.
^(e)	Security has been fair 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 these securities as if October 31, 2021 was $10,680,659, representing 3.4% of net assets.
^(f)	The rate shown is the annualized yield at the time of purchase, not a coupon rate.
^(g)	The rate shown is the 7-day effective yield as of October 31, 2021.

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