NRAEX — Neuberger Berman Sustainable Equity Fund

NRAEX Fund Overview

NRAEX — Neuberger Berman Sustainable Equity Fund is a US mutual fund managed by Neuberger Berman Equity Funds, categorised as United States Large Cap Blend / Core Thematic Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Neuberger Berman Equity Funds
• Category: United States Large Cap Blend / Core Thematic Equity
• Assets under management: $4.19B
• 1-year return: 29.0%
• Ticker: NRAEX
• SEC CIK: 0000044402
• SEC series ID: S000007847
• Share class ID: C000244622

NRAEX Investment Objective and Strategy

Neuberger Berman Sustainable Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Neuberger Berman Equity Funds.

Investment objective

The Fund seeks long-term growth of capital by investing primarily in securities of companies that meet the Funds environmental, social and governance (ESG) criteria.

Principal investment strategy

To pursue its goal, the Fund seeks to invest primarily in common stocks of mid- to large-capitalization companies that meet the Fund's quality oriented financial and ESG criteria. The Fund defines mid-capitalization companies as those with a total market capitalization of $2 billion and above and large-capitalization companies as those with a total market capitalization of $10 billion and above, both at the time of initial purchase. The Fund seeks to reduce risk by investing across many different industries. The Portfolio Managers employ a research driven and valuation sensitive approach to stock selection, with a focus on long term sustainability. This sustainable investment approach seeks to identify high quality, well-positioned companies with leadership that is focused on ESG as defined by best in class operating practices.

As part of their focus on quality, the Portfolio Managers look for solid balance sheets, strong management teams with a track record of success, good cash flow, the prospect for above-average earnings growth and the sustainability of those earnings, as well as of the companys business model, over the long term. They seek to purchase the stock of businesses that they believe to be well positioned and undervalued by the market. Among companies that meet these criteria, the Portfolio Managers look for those that show leadership in environmental, social and governance considerations, including progressive workplace practices and community relations. In addition, the Portfolio Managers typically look at a companys record in public health and the nature of its products. The Portfolio Managers judge firms on their corporate citizenship overall, considering their accomplishments as well as their goals.

While these judgments are inevitably subjective, the Fund endeavors to avoid companies that derive revenue from gambling or the production of alcohol, tobacco, weapons, or nuclear power. The Fund also does not invest in any company that derives its total revenue primarily from non-consumer sales to the military. Please see the Statement of Additional Information for a detailed description of the Funds ESG criteria. Although the Fund invests primarily in domestic stocks, it may also invest in stocks of foreign companies. The Portfolio Managers follow a disciplined selling strategy and may sell a stock when it reaches a target price, if a companys business fails to perform as expected, or when other opportunities appear more attractive. As a sustainable fund, the Fund is required by the federal securities laws to have a policy, which it cannot change without providing investors at least 60 days' written notice, of investing at least 80% of its net assets in equity securities selected in accordance with its ESG criteria.

The 80% test is applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding. In practice, the Portfolio Managers intend to hold only securities selected in accordance with the Fund's ESG criteria. Valuation Sensitive Investing. In addition to employing traditional value criteriathat is, looking for value among companies whose stock prices are below their historical average, based on earnings, cash flow, or other financial measuresthe Portfolio Managers may buy a companys shares if they look more fully priced based on Wall Street consensus estimates of earnings, but still inexpensive relative to the Portfolio Managers estimates. The Portfolio Managers look for these companies to rise in price as they outperform Wall Streets expectations, because they believe some aspects of the business have not been fully appreciated or appropriately priced by other investors.

NRAEX Holdings

Top 10 holdings of Neuberger Berman Sustainable Equity Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all NRAEX holdings

NRAEX Portfolio Allocation

Asset-class allocation of Neuberger Berman Sustainable Equity Fund by percentage of net assets, from the latest SEC N-PORT filing.

NRAEX Performance

Total returns for NRAEX (as of 2026-10-01), from SEC filings.

NRAEX Risk Information

Risk metrics for NRAEX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 13.6%

NRAEX Costs and Fees

NRAEX costs about $5 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.05%
• Gross expense ratio: 0.54%
• Portfolio turnover: 10%
• Brokerage commissions: 1.28 bps of average net assets (SEC N-CEN)

NRAEX Cashflows

Over the 12 months to 2026-05, Neuberger Berman Sustainable Equity Fund had net inflows of $1.87B, from monthly SEC N-PORT filings.

NRAEX Debt Constituents

No individual debt constituents are reported in Neuberger Berman Sustainable Equity Fund's latest SEC N-PORT filing.

NRAEX Prospectus and SEC Filings

Official Neuberger Berman Sustainable Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2024-12-13
• Prospectus (485BPOS) — filed 2023-12-15
• Prospectus supplement (497) — filed 2026-02-10
• Portfolio holdings (N-PORT) — filed 2026-07-27
• Portfolio holdings (N-PORT) — filed 2026-04-24
• Portfolio holdings (N-PORT) — filed 2026-01-26
• Annual census (N-CEN) — filed 2025-11-05
• Annual census (N-CEN) — filed 2024-11-12

Related Funds

Other United States Large Cap Blend / Core Thematic Equity funds tracked on ABC INVEST:

• iShares MSCI USA ESG Optimized ETF (ESGU)
• Vanguard ESG U.s. Stock ETF (ESGV)
• Putnam Sustainable Leaders Fund (PNOPX)
• Fidelity U.S. Sustainability Index Fund (FITLX)
• iShares ESG MSCI KLD 400 ETF (DSI)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.