NRO - Neuberger Real Estate Securities Income Fund

What this means for you

One or more large investors own more than 5% of this fund but have told the regulator they are not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

1. May 5, 2026

   Sit Investment cut its stake to 5.9% (from 15%), as a passive investor.

   Original document →

2. March 17, 2026

   The fund offered holders the right to buy more shares.

   Original document →

3. Jan 22, 2026

   The fund offered holders the right to buy more shares.

   Original document →

4. March 4, 2025

   Sit Investment now owns 15%, as a passive investor.

   Original document →

5. Jan 24, 2025

   The fund offered holders the right to buy more shares, until Feb 19, 2025.

   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 $212 million of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 25% on top of its own money, as of April 30, 2026. Borrowed money makes gains and losses bigger. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.8% a year in management fees; 3.1% 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 $0.37 a share. $0.11 of that was income; $0.26 was 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): $3.26. The shares traded at $3.21, about 1.5% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 5.2% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +7.3%. 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 -6.6%. How the share price did: the shares returned -8.3% 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 2003.

What the fund holds

Mostly shares (68%), the rest preferred shares. About 99% issued in the U.S.

1. Welltower - 7.4%
2. Prologis - 6.7%
3. Equinix - 6.4%
4. American Tower - 5.3%
5. Digital Realty Trust - 4.1%
6. Simon Property Group - 3.3%
7. AvalonBay Communities - 3.3%
8. Ventas - 3.3%
9. AGNC Investment - 3.2%
10. Highwoods Properties - 2.9%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →