NBNAX
Neuberger Berman International Select Fund
NEUBERGER BERMAN EQUITY FUNDS
Expense ratio1
1.17%
Net assets2
$272.98M
Holdings2
82
Category
International Equity
2025 return3
23.06%

Investment objective & strategy

As of Feb. 10, 2026 · prospectus

Objective. The Fund seeks long-term growth of capital by investing primarily in common stocks of foreign companies.

Strategy. To pursue its goal, the Fund invests mainly in common stocks of foreign companies, including companies in developed and emerging markets. The Fund defines a foreign company as one that is organized outside of the United States and conducts the majority of its business abroad. Under normal circumstances, at least 80% of the Funds net assets, plus the amount of any borrowings for investment purposes, will be invested in companies with a market capitalization greater than $2.5 billion at the time of purchase. In picking stocks, the Portfolio Managers look for what they believe to be well-managed and profitable companies that show growth potential and whose stock prices are undervalued. Factors in identifying these firms may include strong fundamentals, such … To pursue its goal, the Fund invests mainly in common stocks of foreign companies, including companies in developed and emerging markets. The Fund defines a foreign company as one that is organized outside of the United States and conducts the majority of its business abroad. Under normal circumstances, at least 80% of the Funds net assets, plus the amount of any borrowings for investment purposes, will be invested in companies with a market capitalization greater than $2.5 billion at the time of purchase. In picking stocks, the Portfolio Managers look for what they believe to be well-managed and profitable companies that show growth potential and whose stock prices are undervalued. Factors in identifying these firms may include strong fundamentals, such as attractive cash flows and balance sheets, as well as prices that are attractive in light of projected returns. The Portfolio Managers also consider the outlooks for various countries and sectors around the world, examining economic, market, social, and political conditions. As part of their fundamental investment analysis the Portfolio Managers consider environmental, social and governance factors they believe are financially material to individual investments, where applicable. While this analysis is inherently subjective and may be informed by both internally generated and third-party metrics, data and other information, the Portfolio Managers believe that the consideration of financially material environmental, social and governance factors, alongside traditional financial metrics, may enhance the Funds overall investment process. The consideration of environmental, social and governance factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of environmental, social and governance factors as part of the investment process does not mean that the Fund pursues a specific impact or sustainable investment strategy. The Fund seeks to reduce risk by diversifying among many companies and industries. Although the Fund has the flexibility to invest a significant portion of its assets in one country or region, it generally intends to remain well-diversified across countries and geographical regions. At times, the Portfolio Managers may emphasize certain sectors or industries that they believe offers a better risk/reward opportunity. The Portfolio Managers follow a disciplined selling strategy and may sell a security when it reaches a target price, if a companys business fails to perform as expected, or when other opportunities appear more attractive.

Top holdings

As of Feb. 28, 2026 · N-PORT
SecurityTickerValue% of fund
SIEMENS AG-REG $7.29M 2.67%
State Street Navigator Securities Lending Government Money Market Portfolio $6.45M 2.36%
ANHEUSER-BUSCH INBEV SA/NV $6.27M 2.30%
SIEMENS ENERGY AG $6.20M 2.27%
ASML Holding NV $5.66M 2.07%
ASTRAZENECA PLC $5.50M 2.02%
ERSTE GROUP BANK $5.40M 1.98%
ING GROEP NV $5.40M 1.98%
RESONA HOLDINGS $5.21M 1.91%
SLB LTD $5.15M 1.89%
View all holdings →

Allocation by sector

As of February 28, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Nov 30, 2025 → Feb 28, 2026
Opened
16
Exited
13
Increased
42
Decreased
24
Unchanged
0

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Neuberger Berman International Equity Fund · NBIIX, NIQAX, NIQCX, NIQVX, NIQTX, NRIQX, NIQEX 88% 0.07%
Federated Hermes International Leaders Fund · FGFAX, FGFCX, FGFLX, FGRSX, FGFRX 32% 0.74%
American Funds International Vantage Fund · RIVGX, CIVKX, RIVJX, RIVLX, RIVKX, RIVIX, RIVHX, RIVDX, RIVAX, AIVGX, AIVFX, AIVEX, AIVCX, AIVBX, CIVEX, CIVCX, CIVBX, CIVAX, AIVTX, CIVGX, CIVHX 31% 0.54%
View all similar funds →

Advisers

As of August 31, 2025 · N-CEN
FirmRole
Neuberger Berman Investment Advisers LLC Adviser

Footnotes

  1. Expense ratio as of February 10, 2026, from the fund's prospectus.
  2. Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).

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