NBXG - Neuberger Next Generation Connectivity Fund
A closed-end fund run by Neuberger Berman. Invests in technology companies. Listed on the New York Stock Exchange.
Is anyone targeting this fund?
Yes - 2 large investors hold stakes in this fund, and 1 of them is pushing for changes.
- Saba owns 9.7% and has said it may push for changes. Since Jan 5, 2024.
- City of London owns 5% as a passive investor. On file since Feb 9, 2024.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
Saba has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.
Nothing is required of you now. If the fund itself announces a buy-back or a vote, it appears in the box above with the date by which you would need to act.
Large investors can also sell down and walk away. We show every notice they file, the day it is filed.
What happened, and when
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March 7, 2025
Saba raised its stake to 9.7% (from 9.5%). It has said it may push for changes.
Original document → -
Feb 25, 2025
Saba raised its stake to 9.5% (from 8.4%). It has said it may push for changes.
Original document → -
Oct 21, 2024
Saba raised its stake to 8.4% (from 7.4%). It has said it may push for changes.
Original document → -
Aug 26, 2024
Saba raised its stake to 7.4% (from 6.4%). It has said it may push for changes.
Original document → -
June 7, 2024
Karpus sold down below 5% and stopped reporting.
Original document →
Show all 11 events
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June 4, 2024
Saba raised its stake to 6.4% (from 5.4%). It has said it may push for changes.
Original document → -
April 11, 2024
Saba raised its stake to 5.4% (from 5.3%). It has said it may push for changes.
Original document → -
March 8, 2024
City of London cut its stake to 5% (from 5.1%), as a passive investor.
Original document → -
Feb 13, 2024
Karpus now owns 5.1%, as a passive investor.
Original document → -
Feb 9, 2024
City of London now owns 5.1%, as a passive investor.
Original document → -
Jan 5, 2024
Saba now owns 5.3%. It has said it may push for changes.
Original document →
About this fund
- Run by Neuberger Berman Investment Advisers LLC. Part of the Neuberger Berman fund family. As of Oct 31, 2025, from the fund's yearly report. Original document →
- Size: about $1.33 billion of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund does not borrow. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
- Costs: 1% a year in management fees; 1.4% a year in total, including interest on borrowed money. Fiscal year ended Oct 31, 2025. As of Oct 31, 2025, from the fund's yearly report. Original document →
- Payouts: last fiscal year (ended Oct 31, 2025) the fund paid $1.22 a share, all of it your own money back, not income. As of Oct 31, 2025, from the fund's annual report. Original document →
- Value of holdings per share at the last fiscal year end (Oct 31, 2025): $17.35. The shares traded at $15.29, about 11.9% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
- How the holdings did: up 4% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +31%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
- How the holdings did over the fiscal year (ended Oct 31, 2025): the value of the holdings returned +30.8%. How the share price did: the shares returned +33.2% over the same year, counting payouts and the change in the market price. As of Oct 31, 2025, from the fund's annual report. Original document →
- First reported to the regulator in 2021.
What the fund holds
Mostly shares (92%), the rest preferred shares and cash and short-term holdings. About 79% issued in the U.S.
The fund also sells options on its holdings to raise income.
- Amazon.com - 5.4%
- SK hynix - 5%
- Nvidia - 5%
- Western Digital - 4.5%
- Taiwan Semiconductor Manufacturing - 4.3%
- Meta Platforms - 4%
- Apple - 3.8%
- Cash and short-term - 2.8%
- Advanced Micro Devices - 2.8%
- Robinhood Markets - 2.7%
Show all 25
- Analog Devices - 2.5%
- Broadcom - 2.5%
- A24 Films LLC preferred shares - 2.4%
- Live Nation Entertainment - 2.4%
- Tower Semiconductor - 2.3%
- Lam Research - 2.1%
- Take-Two Interactive Software - 2%
- AT&T - 2%
- ASML Holding NV - 2%
- Spotify Technology SA - 1.8%
- Fabletics Series G Pfd Stock preferred shares - 1.8%
- Netflix - 1.8%
- Mks - 1.7%
- Videoamp Series F 1 preferred shares - 1.7%
- Deere & - 1.6%
As of April 30, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| March 7, 2025 | Saba | 9.7% | Updated notice |
| Feb 25, 2025 | Saba | 9.5% | Updated notice |
| Oct 21, 2024 | Saba | 8.4% | Updated notice |
| Aug 26, 2024 | Saba | 7.4% | Updated notice |
| June 7, 2024 | Karpus | 4.8% | Sold down below 5% |
| June 4, 2024 | Saba | 6.4% | Updated notice |
| April 11, 2024 | Saba | 5.4% | Updated notice |
| March 8, 2024 | City of London | 5% | Updated notice |
| Feb 13, 2024 | Karpus | 5.1% | Passive investor |
| Feb 9, 2024 | City of London | 5.1% | Passive investor |
| Jan 5, 2024 | Saba | 5.3% | May push for changes |
No announcements from the fund on file.
- Run by
- Neuberger Berman Investment Advisers LLC
- Fund family
- Neuberger Berman
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-23635
- Auditor
- Ernst & Young LLP
- Fiscal year end
- Oct 31, 2025
- Number of holdings
- 131
- Preferred share classes
- none
Email me when something new is filed for NBXG
Free. One email per notice or announcement, usually within a day. No password.