This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/EmergingMarketsEquity/TSRdocuments

$ 62

$ 251,018,281

85.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	18.3%
Communication Services	13.7%
Information Technology	12.9%
Consumer Discretionary	11.3%
Materials	10.1%
Consumer Staples	9.5%
Health Care	5.7%
Utilities	5.1%
Industrials	3.9%
Energy	3.0%
Real Estate	2.2%
Short-Term Investments	4.3%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
China	27.8%
Korea	14.0%
Brazil	12.5%
United States	6.0%
Indonesia	5.6%
Hong Kong	5.5%
Mexico	5.3%
Taiwan	4.4%
South Africa	4.2%
India	3.6%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Emerging Markets Equity Fund

NEMAX

You can find additional information about the Fund at https://www.nb.com/EmergingMarketsEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$78	1.39%

Footnote	Description
Footnote*	Annualized.

1.39%

45

Key Fund Statistics

Table Summary
Net Assets	$251,018,281
Number of Portfolio Holdings	45
Portfolio Turnover Rate	85%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Samsung Electronics Co. Ltd.	4.5%
State Street Institutional Treasury Money Market Fund Premier Class	4.3%
Telefonica Brasil SA	3.4%
PDD Holdings, Inc. ADR	3.4%
Taiwan Semiconductor Manufacturing Co. Ltd.	3.3%
Richter Gedeon Nyrt	3.1%
Petroleo Brasileiro SA - Petrobras	3.0%
Orion Corp.	3.0%
Megacable Holdings SAB de CV	2.9%
VTech Holdings Ltd.	2.9%

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/EmergingMarketsEquity/TSRdocuments

$ 119

$ 251,018,281

85.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	18.3%
Communication Services	13.7%
Information Technology	12.9%
Consumer Discretionary	11.3%
Materials	10.1%
Consumer Staples	9.5%
Health Care	5.7%
Utilities	5.1%
Industrials	3.9%
Energy	3.0%
Real Estate	2.2%
Short-Term Investments	4.3%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
China	27.8%
Korea	14.0%
Brazil	12.5%
United States	6.0%
Indonesia	5.6%
Hong Kong	5.5%
Mexico	5.3%
Taiwan	4.4%
South Africa	4.2%
India	3.6%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Emerging Markets Equity Fund

NEMRX

You can find additional information about the Fund at https://www.nb.com/EmergingMarketsEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R3	$98	1.75%

Footnote	Description
Footnote*	Annualized.

1.75%

45

Key Fund Statistics

Table Summary
Net Assets	$251,018,281
Number of Portfolio Holdings	45
Portfolio Turnover Rate	85%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Samsung Electronics Co. Ltd.	4.5%
State Street Institutional Treasury Money Market Fund Premier Class	4.3%
Telefonica Brasil SA	3.4%
PDD Holdings, Inc. ADR	3.4%
Taiwan Semiconductor Manufacturing Co. Ltd.	3.3%
Richter Gedeon Nyrt	3.1%
Petroleo Brasileiro SA - Petrobras	3.0%
Orion Corp.	3.0%
Megacable Holdings SAB de CV	2.9%
VTech Holdings Ltd.	2.9%

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/EmergingMarketsEquity/TSRdocuments

$ 57

$ 251,018,281

85.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	18.3%
Communication Services	13.7%
Information Technology	12.9%
Consumer Discretionary	11.3%
Materials	10.1%
Consumer Staples	9.5%
Health Care	5.7%
Utilities	5.1%
Industrials	3.9%
Energy	3.0%
Real Estate	2.2%
Short-Term Investments	4.3%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
China	27.8%
Korea	14.0%
Brazil	12.5%
United States	6.0%
Indonesia	5.6%
Hong Kong	5.5%
Mexico	5.3%
Taiwan	4.4%
South Africa	4.2%
India	3.6%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Equity Income Fund

NBHIX

You can find additional information about the Fund at https://www.nb.com/EquityIncome/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$39	0.72%

Footnote	Description
Footnote*	Annualized.

0.72%

75

Key Fund Statistics

Table Summary
Net Assets	$1,080,636,020
Number of Portfolio Holdings	75
Portfolio Turnover Rate	17%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Agnico Eagle Mines Ltd.	4.8%
AstraZeneca PLC ADR	3.2%
Valterra Platinum Ltd.	3.1%
Wells Fargo & Co.	2.9%
Exxon Mobil Corp.	2.9%
JPMorgan Chase & Co.	2.8%
Ferrovial SE	2.8%
Brixmor Property Group, Inc.	2.7%
Roche Holding AG ADR	2.6%
Emerson Electric Co.	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/EquityIncome/TSRdocuments

$ 58

$ 1,080,636,020

17.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Materials	15.0%
Financials	14.4%
Industrials	11.5%
Utilities	11.4%
Health Care	8.9%
Energy	8.6%
Consumer Staples	6.8%
Information Technology	6.0%
Consumer Discretionary	5.9%
Real Estate	5.8%
Communication Services	4.1%
Short-Term Investments	1.6%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Equity Income Fund

NBHCX

You can find additional information about the Fund at https://www.nb.com/EquityIncome/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$98	1.83%

Footnote	Description
Footnote*	Annualized.

1.83%

75

Key Fund Statistics

Table Summary
Net Assets	$1,080,636,020
Number of Portfolio Holdings	75
Portfolio Turnover Rate	17%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Agnico Eagle Mines Ltd.	4.8%
AstraZeneca PLC ADR	3.2%
Valterra Platinum Ltd.	3.1%
Wells Fargo & Co.	2.9%
Exxon Mobil Corp.	2.9%
JPMorgan Chase & Co.	2.8%
Ferrovial SE	2.8%
Brixmor Property Group, Inc.	2.7%
Roche Holding AG ADR	2.6%
Emerson Electric Co.	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R3

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/EquityIncome/TSRdocuments

$ 73

$ 1,080,636,020

17.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Materials	15.0%
Financials	14.4%
Industrials	11.5%
Utilities	11.4%
Health Care	8.9%
Energy	8.6%
Consumer Staples	6.8%
Information Technology	6.0%
Consumer Discretionary	5.9%
Real Estate	5.8%
Communication Services	4.1%
Short-Term Investments	1.6%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Equity Income Fund

NBHEX

You can find additional information about the Fund at https://www.nb.com/EquityIncome/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class E	$3	0.05%

Footnote	Description
Footnote*	Annualized.

0.05%

75

Key Fund Statistics

Table Summary
Net Assets	$1,080,636,020
Number of Portfolio Holdings	75
Portfolio Turnover Rate	17%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Agnico Eagle Mines Ltd.	4.8%
AstraZeneca PLC ADR	3.2%
Valterra Platinum Ltd.	3.1%
Wells Fargo & Co.	2.9%
Exxon Mobil Corp.	2.9%
JPMorgan Chase & Co.	2.8%
Ferrovial SE	2.8%
Brixmor Property Group, Inc.	2.7%
Roche Holding AG ADR	2.6%
Emerson Electric Co.	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Investor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/Focus/TSRdocuments

$ 44

$ 786,310,589

37.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	18.6%
Financials	14.9%
Industrials	14.5%
Communication Services	11.0%
Consumer Discretionary	10.9%
Health Care	8.3%
Utilities	5.8%
Materials	4.9%
Energy	3.6%
Consumer Staples	2.7%
Real Estate	0.7%
Short-Term Investments	4.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Focus Fund

NBFCX

You can find additional information about the Fund at https://www.nb.com/Focus/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$55	1.09%

Footnote	Description
Footnote*	Annualized.

1.09%

55

Key Fund Statistics

Table Summary
Net Assets	$786,310,589
Number of Portfolio Holdings	55
Portfolio Turnover Rate	37%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	4.4%
Meta Platforms, Inc. Class A	4.3%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.1%
Deutsche Telekom AG	4.0%
Amazon.com, Inc.	3.9%
Airbus SE	3.5%
UniCredit SpA	3.4%
Microsoft Corp.	3.3%
Lam Research Corp.	3.1%
Agnico Eagle Mines Ltd.	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Advisor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/Focus/TSRdocuments

$ 72

$ 786,310,589

37.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	18.6%
Financials	14.9%
Industrials	14.5%
Communication Services	11.0%
Consumer Discretionary	10.9%
Health Care	8.3%
Utilities	5.8%
Materials	4.9%
Energy	3.6%
Consumer Staples	2.7%
Real Estate	0.7%
Short-Term Investments	4.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Focus Fund

NFALX

You can find additional information about the Fund at https://www.nb.com/Focus/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$37	0.73%

Footnote	Description
Footnote*	Annualized.

0.73%

55

Key Fund Statistics

Table Summary
Net Assets	$786,310,589
Number of Portfolio Holdings	55
Portfolio Turnover Rate	37%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	4.4%
Meta Platforms, Inc. Class A	4.3%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.1%
Deutsche Telekom AG	4.0%
Amazon.com, Inc.	3.9%
Airbus SE	3.5%
UniCredit SpA	3.4%
Microsoft Corp.	3.3%
Lam Research Corp.	3.1%
Agnico Eagle Mines Ltd.	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/Focus/TSRdocuments

$ 56

$ 786,310,589

37.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	18.6%
Financials	14.9%
Industrials	14.5%
Communication Services	11.0%
Consumer Discretionary	10.9%
Health Care	8.3%
Utilities	5.8%
Materials	4.9%
Energy	3.6%
Consumer Staples	2.7%
Real Estate	0.7%
Short-Term Investments	4.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Focus Fund

NFACX

You can find additional information about the Fund at https://www.nb.com/Focus/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$94	1.86%

Footnote	Description
Footnote*	Annualized.

1.86%

55

Key Fund Statistics

Table Summary
Net Assets	$786,310,589
Number of Portfolio Holdings	55
Portfolio Turnover Rate	37%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	4.4%
Meta Platforms, Inc. Class A	4.3%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.1%
Deutsche Telekom AG	4.0%
Amazon.com, Inc.	3.9%
Airbus SE	3.5%
UniCredit SpA	3.4%
Microsoft Corp.	3.3%
Lam Research Corp.	3.1%
Agnico Eagle Mines Ltd.	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Investor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/Genesis/TSRdocuments

$ 51

$ 8,558,371,060

12.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	34.9%
Financials	17.6%
Information Technology	14.2%
Consumer Discretionary	6.9%
Energy	6.3%
Health Care	5.6%
Utilities	5.4%
Materials	4.0%
Real Estate	2.2%
Communication Services	2.2%
Short-Term Investments	0.7%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Genesis Fund

NBGEX

You can find additional information about the Fund at https://www.nb.com/Genesis/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$55	1.09%

Footnote	Description
Footnote*	Annualized.

1.09%

111

Key Fund Statistics

Table Summary
Net Assets	$8,558,371,060
Number of Portfolio Holdings	111
Portfolio Turnover Rate	12%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Valmont Industries, Inc.	2.0%
Littelfuse, Inc.	2.0%
White Mountains Insurance Group Ltd.	1.9%
RBC Bearings, Inc.	1.9%
MKS, Inc.	1.8%
Tidewater, Inc.	1.8%
Kirby Corp.	1.8%
Lattice Semiconductor Corp.	1.7%
Nexstar Media Group, Inc. Class A	1.6%
Community Financial System, Inc.	1.6%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Advisor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/Genesis/TSRdocuments

$ 68

$ 8,558,371,060

12.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	34.9%
Financials	17.6%
Information Technology	14.2%
Consumer Discretionary	6.9%
Energy	6.3%
Health Care	5.6%
Utilities	5.4%
Materials	4.0%
Real Estate	2.2%
Communication Services	2.2%
Short-Term Investments	0.7%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Genesis Fund

NBGIX

You can find additional information about the Fund at https://www.nb.com/Genesis/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$42	0.84%

Footnote	Description
Footnote*	Annualized.

0.84%

111

Key Fund Statistics

Table Summary
Net Assets	$8,558,371,060
Number of Portfolio Holdings	111
Portfolio Turnover Rate	12%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Valmont Industries, Inc.	2.0%
Littelfuse, Inc.	2.0%
White Mountains Insurance Group Ltd.	1.9%
RBC Bearings, Inc.	1.9%
MKS, Inc.	1.8%
Tidewater, Inc.	1.8%
Kirby Corp.	1.8%
Lattice Semiconductor Corp.	1.7%
Nexstar Media Group, Inc. Class A	1.6%
Community Financial System, Inc.	1.6%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/Genesis/TSRdocuments

$ 37

$ 8,558,371,060

12.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	34.9%
Financials	17.6%
Information Technology	14.2%
Consumer Discretionary	6.9%
Energy	6.3%
Health Care	5.6%
Utilities	5.4%
Materials	4.0%
Real Estate	2.2%
Communication Services	2.2%
Short-Term Investments	0.7%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Genesis Fund

NRGEX

You can find additional information about the Fund at https://www.nb.com/Genesis/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class E	$1	0.02%

Footnote	Description
Footnote*	Annualized.

0.02%

111

Key Fund Statistics

Table Summary
Net Assets	$8,558,371,060
Number of Portfolio Holdings	111
Portfolio Turnover Rate	12%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Valmont Industries, Inc.	2.0%
Littelfuse, Inc.	2.0%
White Mountains Insurance Group Ltd.	1.9%
RBC Bearings, Inc.	1.9%
MKS, Inc.	1.8%
Tidewater, Inc.	1.8%
Kirby Corp.	1.8%
Lattice Semiconductor Corp.	1.7%
Nexstar Media Group, Inc. Class A	1.6%
Community Financial System, Inc.	1.6%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Investor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/InternationalEquity/TSRdocuments

$ 56

$ 1,119,021,894

38.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.0%
Financials	21.5%
Information Technology	12.6%
Health Care	10.1%
Materials	8.1%
Consumer Discretionary	7.4%
Consumer Staples	6.2%
Energy	3.2%
Utilities	1.7%
Real Estate	0.7%
Communication Services	0.5%
Short-Term Investments	2.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.2%
Japan	16.0%
Germany	10.8%
United States	10.8%
France	9.6%
Netherlands	5.4%
Switzerland	3.6%
Italy	3.4%
Austria	2.9%
Korea	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

International Equity Fund

NIQTX

You can find additional information about the Fund at https://www.nb.com/InternationalEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$59	1.13%

Footnote	Description
Footnote*	Annualized.

1.13%

96

Key Fund Statistics

Table Summary
Net Assets	$1,119,021,894
Number of Portfolio Holdings	96
Portfolio Turnover Rate	38%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Siemens AG	2.4%
Anheuser-Busch InBev SA	2.2%
ASML Holding NV	2.1%
Siemens Energy AG	2.0%
AstraZeneca PLC	1.8%
Japan Post Bank Co. Ltd.	1.8%
UniCredit SpA	1.8%
Erste Group Bank AG	1.8%
ING Groep NV	1.8%
RWE AG	1.7%

Institutional Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/InternationalEquity/TSRdocuments

$ 45

$ 1,119,021,894

38.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.0%
Financials	21.5%
Information Technology	12.6%
Health Care	10.1%
Materials	8.1%
Consumer Discretionary	7.4%
Consumer Staples	6.2%
Energy	3.2%
Utilities	1.7%
Real Estate	0.7%
Communication Services	0.5%
Short-Term Investments	2.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.2%
Japan	16.0%
Germany	10.8%
United States	10.8%
France	9.6%
Netherlands	5.4%
Switzerland	3.6%
Italy	3.4%
Austria	2.9%
Korea	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

International Equity Fund

NIQAX

You can find additional information about the Fund at https://www.nb.com/InternationalEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$64	1.21%

Footnote	Description
Footnote*	Annualized.

1.21%

96

Key Fund Statistics

Table Summary
Net Assets	$1,119,021,894
Number of Portfolio Holdings	96
Portfolio Turnover Rate	38%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Siemens AG	2.4%
Anheuser-Busch InBev SA	2.2%
ASML Holding NV	2.1%
Siemens Energy AG	2.0%
AstraZeneca PLC	1.8%
Japan Post Bank Co. Ltd.	1.8%
UniCredit SpA	1.8%
Erste Group Bank AG	1.8%
ING Groep NV	1.8%
RWE AG	1.7%

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/InternationalEquity/TSRdocuments

$ 103

$ 1,119,021,894

38.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.0%
Financials	21.5%
Information Technology	12.6%
Health Care	10.1%
Materials	8.1%
Consumer Discretionary	7.4%
Consumer Staples	6.2%
Energy	3.2%
Utilities	1.7%
Real Estate	0.7%
Communication Services	0.5%
Short-Term Investments	2.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.2%
Japan	16.0%
Germany	10.8%
United States	10.8%
France	9.6%
Netherlands	5.4%
Switzerland	3.6%
Italy	3.4%
Austria	2.9%
Korea	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

International Equity Fund

NRIQX

You can find additional information about the Fund at https://www.nb.com/InternationalEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R6	$40	0.75%

Footnote	Description
Footnote*	Annualized.

0.75%

96

Key Fund Statistics

Table Summary
Net Assets	$1,119,021,894
Number of Portfolio Holdings	96
Portfolio Turnover Rate	38%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Siemens AG	2.4%
Anheuser-Busch InBev SA	2.2%
ASML Holding NV	2.1%
Siemens Energy AG	2.0%
AstraZeneca PLC	1.8%
Japan Post Bank Co. Ltd.	1.8%
UniCredit SpA	1.8%
Erste Group Bank AG	1.8%
ING Groep NV	1.8%
RWE AG	1.7%

Class E

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/InternationalEquity/TSRdocuments

$ 3

$ 1,119,021,894

38.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.0%
Financials	21.5%
Information Technology	12.6%
Health Care	10.1%
Materials	8.1%
Consumer Discretionary	7.4%
Consumer Staples	6.2%
Energy	3.2%
Utilities	1.7%
Real Estate	0.7%
Communication Services	0.5%
Short-Term Investments	2.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.2%
Japan	16.0%
Germany	10.8%
United States	10.8%
France	9.6%
Netherlands	5.4%
Switzerland	3.6%
Italy	3.4%
Austria	2.9%
Korea	2.5%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

International Select Fund

NILTX

You can find additional information about the Fund at https://www.nb.com/InternationalSelect/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$61	1.15%

Footnote	Description
Footnote*	Annualized.

1.15%

82

Key Fund Statistics

Table Summary
Net Assets	$272,640,134
Number of Portfolio Holdings	82
Portfolio Turnover Rate	43%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Siemens AG	2.6%
State Street Navigator Securities Lending Government Money Market Portfolio	2.3%
Anheuser-Busch InBev SA	2.2%
Siemens Energy AG	2.2%
ASML Holding NV	2.0%
AstraZeneca PLC	2.0%
Erste Group Bank AG	1.9%
ING Groep NV	1.9%
Resona Holdings, Inc.	1.9%
SLB Ltd.	1.8%

Institutional Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/InternationalSelect/TSRdocuments

$ 42

$ 272,640,134

43.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	24.1%
Financials	22.4%
Information Technology	13.3%
Health Care	10.4%
Materials	8.2%
Consumer Discretionary	7.7%
Consumer Staples	6.1%
Energy	3.3%
Utilities	1.7%
Communication Services	0.5%
Short-Term Investments	2.3%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.1%
Japan	14.0%
United States	13.3%
Germany	11.7%
France	11.3%
Netherlands	5.7%
Austria	3.1%
Korea	3.1%
Switzerland	2.6%
Denmark	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

International Select Fund

NBNAX

You can find additional information about the Fund at https://www.nb.com/InternationalSelect/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$61	1.16%

Footnote	Description
Footnote*	Annualized.

1.16%

82

Key Fund Statistics

Table Summary
Net Assets	$272,640,134
Number of Portfolio Holdings	82
Portfolio Turnover Rate	43%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Siemens AG	2.6%
State Street Navigator Securities Lending Government Money Market Portfolio	2.3%
Anheuser-Busch InBev SA	2.2%
Siemens Energy AG	2.2%
ASML Holding NV	2.0%
AstraZeneca PLC	2.0%
Erste Group Bank AG	1.9%
ING Groep NV	1.9%
Resona Holdings, Inc.	1.9%
SLB Ltd.	1.8%

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/InternationalSelect/TSRdocuments

$ 101

$ 272,640,134

43.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	24.1%
Financials	22.4%
Information Technology	13.3%
Health Care	10.4%
Materials	8.2%
Consumer Discretionary	7.7%
Consumer Staples	6.1%
Energy	3.3%
Utilities	1.7%
Communication Services	0.5%
Short-Term Investments	2.3%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.1%
Japan	14.0%
United States	13.3%
Germany	11.7%
France	11.3%
Netherlands	5.7%
Austria	3.1%
Korea	3.1%
Switzerland	2.6%
Denmark	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

International Select Fund

NBNRX

You can find additional information about the Fund at https://www.nb.com/InternationalSelect/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R3	$74	1.41%

Footnote	Description
Footnote*	Annualized.

1.41%

82

Key Fund Statistics

Table Summary
Net Assets	$272,640,134
Number of Portfolio Holdings	82
Portfolio Turnover Rate	43%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Siemens AG	2.6%
State Street Navigator Securities Lending Government Money Market Portfolio	2.3%
Anheuser-Busch InBev SA	2.2%
Siemens Energy AG	2.2%
ASML Holding NV	2.0%
AstraZeneca PLC	2.0%
Erste Group Bank AG	1.9%
ING Groep NV	1.9%
Resona Holdings, Inc.	1.9%
SLB Ltd.	1.8%

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/InternationalSelect/TSRdocuments

$ 38

$ 272,640,134

43.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	24.1%
Financials	22.4%
Information Technology	13.3%
Health Care	10.4%
Materials	8.2%
Consumer Discretionary	7.7%
Consumer Staples	6.1%
Energy	3.3%
Utilities	1.7%
Communication Services	0.5%
Short-Term Investments	2.3%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Top Ten Countries

(as a % of Total Investments^{Footnote Reference*})

Table Summary
United Kingdom	17.1%
Japan	14.0%
United States	13.3%
Germany	11.7%
France	11.3%
Netherlands	5.7%
Austria	3.1%
Korea	3.1%
Switzerland	2.6%
Denmark	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Intrinsic Value Fund

NINLX

You can find additional information about the Fund at https://www.nb.com/IntrinsicValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$51	0.95%

Footnote	Description
Footnote*	Annualized.

0.95%

99

Key Fund Statistics

Table Summary
Net Assets	$1,300,810,068
Number of Portfolio Holdings	99
Portfolio Turnover Rate	11%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Viasat, Inc.	4.8%
Resideo Technologies, Inc.	3.3%
Ormat Technologies, Inc.	2.7%
AerCap Holdings NV	2.6%
Enviri Corp.	2.4%
Veeco Instruments, Inc.	2.3%
IPG Photonics Corp.	2.2%
Huntington Bancshares, Inc.	2.1%
KBR, Inc.	2.1%
Rambus, Inc.	2.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/IntrinsicValue/TSRdocuments

$ 71

$ 1,300,810,068

11.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	31.5%
Industrials	22.3%
Utilities	10.0%
Health Care	8.3%
Energy	6.5%
Consumer Discretionary	6.2%
Financials	5.9%
Materials	4.2%
Communication Services	3.1%
Consumer Staples	0.9%
Short-Term Investments	1.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Intrinsic Value Fund

NINCX

You can find additional information about the Fund at https://www.nb.com/IntrinsicValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$111	2.06%

Footnote	Description
Footnote*	Annualized.

2.06%

99

Key Fund Statistics

Table Summary
Net Assets	$1,300,810,068
Number of Portfolio Holdings	99
Portfolio Turnover Rate	11%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Viasat, Inc.	4.8%
Resideo Technologies, Inc.	3.3%
Ormat Technologies, Inc.	2.7%
AerCap Holdings NV	2.6%
Enviri Corp.	2.4%
Veeco Instruments, Inc.	2.3%
IPG Photonics Corp.	2.2%
Huntington Bancshares, Inc.	2.1%
KBR, Inc.	2.1%
Rambus, Inc.	2.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/IntrinsicValue/TSRdocuments

$ 46

$ 1,300,810,068

11.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	31.5%
Industrials	22.3%
Utilities	10.0%
Health Care	8.3%
Energy	6.5%
Consumer Discretionary	6.2%
Financials	5.9%
Materials	4.2%
Communication Services	3.1%
Consumer Staples	0.9%
Short-Term Investments	1.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Growth Fund

NGUAX

You can find additional information about the Fund at https://www.nb.com/LargeCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Investor Class	$39	0.79%

Footnote	Description
Footnote*	Annualized.

0.79%

72

Key Fund Statistics

Table Summary
Net Assets	$2,459,321,574
Number of Portfolio Holdings	72
Portfolio Turnover Rate	16%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	8.2%
Alphabet, Inc. Class A	7.7%
Microsoft Corp.	7.6%
Amazon.com, Inc.	6.3%
Apple, Inc.	5.9%
Meta Platforms, Inc. Class A	4.7%
Fanatics Holdings, Inc. Class A	3.9%
Broadcom, Inc.	3.9%
Eli Lilly & Co.	3.1%
Netflix, Inc.	3.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Trust Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/LargeCapGrowth/TSRdocuments

$ 49

$ 2,459,321,574

16.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	36.0%
Communication Services	16.1%
Consumer Discretionary	13.3%
Financials	12.1%
Industrials	9.2%
Health Care	6.7%
Utilities	2.6%
Consumer Staples	2.5%
Energy	0.7%
Short-Term Investments	0.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Growth Fund

NBGUX

You can find additional information about the Fund at https://www.nb.com/LargeCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Advisor Class	$74	1.50%

Footnote	Description
Footnote*	Annualized.

1.50%

72

Key Fund Statistics

Table Summary
Net Assets	$2,459,321,574
Number of Portfolio Holdings	72
Portfolio Turnover Rate	16%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	8.2%
Alphabet, Inc. Class A	7.7%
Microsoft Corp.	7.6%
Amazon.com, Inc.	6.3%
Apple, Inc.	5.9%
Meta Platforms, Inc. Class A	4.7%
Fanatics Holdings, Inc. Class A	3.9%
Broadcom, Inc.	3.9%
Eli Lilly & Co.	3.1%
Netflix, Inc.	3.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Institutional Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/LargeCapGrowth/TSRdocuments

$ 32

$ 2,459,321,574

16.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	36.0%
Communication Services	16.1%
Consumer Discretionary	13.3%
Financials	12.1%
Industrials	9.2%
Health Care	6.7%
Utilities	2.6%
Consumer Staples	2.5%
Energy	0.7%
Short-Term Investments	0.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Growth Fund

NGDAX

You can find additional information about the Fund at https://www.nb.com/LargeCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$50	1.02%

Footnote	Description
Footnote*	Annualized.

1.02%

72

Key Fund Statistics

Table Summary
Net Assets	$2,459,321,574
Number of Portfolio Holdings	72
Portfolio Turnover Rate	16%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	8.2%
Alphabet, Inc. Class A	7.7%
Microsoft Corp.	7.6%
Amazon.com, Inc.	6.3%
Apple, Inc.	5.9%
Meta Platforms, Inc. Class A	4.7%
Fanatics Holdings, Inc. Class A	3.9%
Broadcom, Inc.	3.9%
Eli Lilly & Co.	3.1%
Netflix, Inc.	3.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/LargeCapGrowth/TSRdocuments

$ 87

$ 2,459,321,574

16.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	36.0%
Communication Services	16.1%
Consumer Discretionary	13.3%
Financials	12.1%
Industrials	9.2%
Health Care	6.7%
Utilities	2.6%
Consumer Staples	2.5%
Energy	0.7%
Short-Term Investments	0.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Growth Fund

NGDRX

You can find additional information about the Fund at https://www.nb.com/LargeCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R3	$64	1.29%

Footnote	Description
Footnote*	Annualized.

1.29%

72

Key Fund Statistics

Table Summary
Net Assets	$2,459,321,574
Number of Portfolio Holdings	72
Portfolio Turnover Rate	16%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
NVIDIA Corp.	8.2%
Alphabet, Inc. Class A	7.7%
Microsoft Corp.	7.6%
Amazon.com, Inc.	6.3%
Apple, Inc.	5.9%
Meta Platforms, Inc. Class A	4.7%
Fanatics Holdings, Inc. Class A	3.9%
Broadcom, Inc.	3.9%
Eli Lilly & Co.	3.1%
Netflix, Inc.	3.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/LargeCapGrowth/TSRdocuments

$ 27

$ 2,459,321,574

16.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	36.0%
Communication Services	16.1%
Consumer Discretionary	13.3%
Financials	12.1%
Industrials	9.2%
Health Care	6.7%
Utilities	2.6%
Consumer Staples	2.5%
Energy	0.7%
Short-Term Investments	0.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Value Fund

NPRTX

You can find additional information about the Fund at https://www.nb.com/LargeCapValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Investor Class	$40	0.74%

Footnote	Description
Footnote*	Annualized.

0.74%

81

Key Fund Statistics

Table Summary
Net Assets	$9,461,723,277
Number of Portfolio Holdings	81
Portfolio Turnover Rate	29%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Exxon Mobil Corp.	5.0%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.9%
Southern Copper Corp.	4.0%
Johnson & Johnson	3.2%
Boeing Co.	3.0%
JPMorgan Chase & Co.	2.7%
Chevron Corp.	2.6%
CME Group, Inc.	2.1%
Freeport-McMoRan, Inc.	2.0%
Medtronic PLC	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Trust Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/LargeCapValue/TSRdocuments

$ 52

$ 9,461,723,277

29.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	17.1%
Health Care	15.1%
Materials	14.8%
Industrials	12.6%
Energy	12.5%
Information Technology	5.6%
Communication Services	4.7%
Consumer Discretionary	4.6%
Consumer Staples	4.3%
Utilities	2.2%
Real Estate	0.0%
Short-Term Investments	6.5%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Value Fund

NBPBX

You can find additional information about the Fund at https://www.nb.com/LargeCapValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Advisor Class	$60	1.10%

Footnote	Description
Footnote*	Annualized.

1.10%

81

Key Fund Statistics

Table Summary
Net Assets	$9,461,723,277
Number of Portfolio Holdings	81
Portfolio Turnover Rate	29%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Exxon Mobil Corp.	5.0%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.9%
Southern Copper Corp.	4.0%
Johnson & Johnson	3.2%
Boeing Co.	3.0%
JPMorgan Chase & Co.	2.7%
Chevron Corp.	2.6%
CME Group, Inc.	2.1%
Freeport-McMoRan, Inc.	2.0%
Medtronic PLC	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Institutional Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/LargeCapValue/TSRdocuments

$ 33

$ 9,461,723,277

29.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	17.1%
Health Care	15.1%
Materials	14.8%
Industrials	12.6%
Energy	12.5%
Information Technology	5.6%
Communication Services	4.7%
Consumer Discretionary	4.6%
Consumer Staples	4.3%
Utilities	2.2%
Real Estate	0.0%
Short-Term Investments	6.5%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Value Fund

NPNAX

You can find additional information about the Fund at https://www.nb.com/LargeCapValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$52	0.96%

Footnote	Description
Footnote*	Annualized.

0.96%

81

Key Fund Statistics

Table Summary
Net Assets	$9,461,723,277
Number of Portfolio Holdings	81
Portfolio Turnover Rate	29%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Exxon Mobil Corp.	5.0%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.9%
Southern Copper Corp.	4.0%
Johnson & Johnson	3.2%
Boeing Co.	3.0%
JPMorgan Chase & Co.	2.7%
Chevron Corp.	2.6%
CME Group, Inc.	2.1%
Freeport-McMoRan, Inc.	2.0%
Medtronic PLC	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/LargeCapValue/TSRdocuments

$ 93

$ 9,461,723,277

29.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	17.1%
Health Care	15.1%
Materials	14.8%
Industrials	12.6%
Energy	12.5%
Information Technology	5.6%
Communication Services	4.7%
Consumer Discretionary	4.6%
Consumer Staples	4.3%
Utilities	2.2%
Real Estate	0.0%
Short-Term Investments	6.5%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Value Fund

NPNRX

You can find additional information about the Fund at https://www.nb.com/LargeCapValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R3	$67	1.23%

Footnote	Description
Footnote*	Annualized.

1.23%

81

Key Fund Statistics

Table Summary
Net Assets	$9,461,723,277
Number of Portfolio Holdings	81
Portfolio Turnover Rate	29%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Exxon Mobil Corp.	5.0%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.9%
Southern Copper Corp.	4.0%
Johnson & Johnson	3.2%
Boeing Co.	3.0%
JPMorgan Chase & Co.	2.7%
Chevron Corp.	2.6%
CME Group, Inc.	2.1%
Freeport-McMoRan, Inc.	2.0%
Medtronic PLC	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/LargeCapValue/TSRdocuments

$ 27

$ 9,461,723,277

29.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Financials	17.1%
Health Care	15.1%
Materials	14.8%
Industrials	12.6%
Energy	12.5%
Information Technology	5.6%
Communication Services	4.7%
Consumer Discretionary	4.6%
Consumer Staples	4.3%
Utilities	2.2%
Real Estate	0.0%
Short-Term Investments	6.5%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Large Cap Value Fund

NPNEX

You can find additional information about the Fund at https://www.nb.com/LargeCapValue/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class E	$1	0.02%

Footnote	Description
Footnote*	Annualized.

0.02%

81

Key Fund Statistics

Table Summary
Net Assets	$9,461,723,277
Number of Portfolio Holdings	81
Portfolio Turnover Rate	29%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Exxon Mobil Corp.	5.0%
State Street Institutional U.S. Government Money Market Fund Premier Class	4.9%
Southern Copper Corp.	4.0%
Johnson & Johnson	3.2%
Boeing Co.	3.0%
JPMorgan Chase & Co.	2.7%
Chevron Corp.	2.6%
CME Group, Inc.	2.1%
Freeport-McMoRan, Inc.	2.0%
Medtronic PLC	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Investor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MidCapGrowth/TSRdocuments

$ 40

$ 1,991,618,374

91.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	25.9%
Consumer Discretionary	20.4%
Information Technology	17.8%
Health Care	16.5%
Financials	7.7%
Energy	3.3%
Consumer Staples	2.4%
Communication Services	2.4%
Utilities	1.2%
Materials	0.6%
Short-Term Investments	1.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Growth Fund

NBMTX

You can find additional information about the Fund at https://www.nb.com/MidCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$45	0.92%

Footnote	Description
Footnote*	Annualized.

0.92%

76

Key Fund Statistics

Table Summary
Net Assets	$1,991,618,374
Number of Portfolio Holdings	76
Portfolio Turnover Rate	91%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Cencora, Inc.	4.1%
Hilton Worldwide Holdings, Inc.	3.7%
Howmet Aerospace, Inc.	3.7%
Vertiv Holdings Co. Class A	3.7%
Royal Caribbean Cruises Ltd.	3.2%
Quanta Services, Inc.	2.9%
Cloudflare, Inc. Class A	2.6%
IDEXX Laboratories, Inc.	2.5%
Cardinal Health, Inc.	2.4%
Fastenal Co.	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Advisor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MidCapGrowth/TSRdocuments

$ 57

$ 1,991,618,374

91.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	25.9%
Consumer Discretionary	20.4%
Information Technology	17.8%
Health Care	16.5%
Financials	7.7%
Energy	3.3%
Consumer Staples	2.4%
Communication Services	2.4%
Utilities	1.2%
Materials	0.6%
Short-Term Investments	1.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Growth Fund

NBMLX

You can find additional information about the Fund at https://www.nb.com/MidCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$32	0.66%

Footnote	Description
Footnote*	Annualized.

0.66%

76

Key Fund Statistics

Table Summary
Net Assets	$1,991,618,374
Number of Portfolio Holdings	76
Portfolio Turnover Rate	91%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Cencora, Inc.	4.1%
Hilton Worldwide Holdings, Inc.	3.7%
Howmet Aerospace, Inc.	3.7%
Vertiv Holdings Co. Class A	3.7%
Royal Caribbean Cruises Ltd.	3.2%
Quanta Services, Inc.	2.9%
Cloudflare, Inc. Class A	2.6%
IDEXX Laboratories, Inc.	2.5%
Cardinal Health, Inc.	2.4%
Fastenal Co.	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MidCapGrowth/TSRdocuments

$ 50

$ 1,991,618,374

91.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	25.9%
Consumer Discretionary	20.4%
Information Technology	17.8%
Health Care	16.5%
Financials	7.7%
Energy	3.3%
Consumer Staples	2.4%
Communication Services	2.4%
Utilities	1.2%
Materials	0.6%
Short-Term Investments	1.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Growth Fund

NMGCX

You can find additional information about the Fund at https://www.nb.com/MidCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$87	1.79%

Footnote	Description
Footnote*	Annualized.

1.79%

76

Key Fund Statistics

Table Summary
Net Assets	$1,991,618,374
Number of Portfolio Holdings	76
Portfolio Turnover Rate	91%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Cencora, Inc.	4.1%
Hilton Worldwide Holdings, Inc.	3.7%
Howmet Aerospace, Inc.	3.7%
Vertiv Holdings Co. Class A	3.7%
Royal Caribbean Cruises Ltd.	3.2%
Quanta Services, Inc.	2.9%
Cloudflare, Inc. Class A	2.6%
IDEXX Laboratories, Inc.	2.5%
Cardinal Health, Inc.	2.4%
Fastenal Co.	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R3

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/MidCapGrowth/TSRdocuments

$ 62

$ 1,991,618,374

91.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	25.9%
Consumer Discretionary	20.4%
Information Technology	17.8%
Health Care	16.5%
Financials	7.7%
Energy	3.3%
Consumer Staples	2.4%
Communication Services	2.4%
Utilities	1.2%
Materials	0.6%
Short-Term Investments	1.8%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Growth Fund

NRMGX

You can find additional information about the Fund at https://www.nb.com/MidCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R6	$28	0.57%

Footnote	Description
Footnote*	Annualized.

0.57%

76

Key Fund Statistics

Table Summary
Net Assets	$1,991,618,374
Number of Portfolio Holdings	76
Portfolio Turnover Rate	91%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Cencora, Inc.	4.1%
Hilton Worldwide Holdings, Inc.	3.7%
Howmet Aerospace, Inc.	3.7%
Vertiv Holdings Co. Class A	3.7%
Royal Caribbean Cruises Ltd.	3.2%
Quanta Services, Inc.	2.9%
Cloudflare, Inc. Class A	2.6%
IDEXX Laboratories, Inc.	2.5%
Cardinal Health, Inc.	2.4%
Fastenal Co.	2.3%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Investor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MidCapIntrinsic/TSRdocuments

$ 51

$ 51,821,914

15.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	25.5%
Industrials	21.2%
Consumer Discretionary	10.1%
Financials	9.5%
Utilities	7.5%
Energy	7.2%
Health Care	6.5%
Real Estate	5.4%
Consumer Staples	3.3%
Materials	2.2%
Communication Services	1.6%
Short-Term Investments	0.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Intrinsic Value Fund

NBREX

You can find additional information about the Fund at https://www.nb.com/MidCapIntrinsic/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$63	1.20%

Footnote	Description
Footnote*	Annualized.

1.20%

76

Key Fund Statistics

Table Summary
Net Assets	$51,821,914
Number of Portfolio Holdings	76
Portfolio Turnover Rate	15%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
IPG Photonics Corp.	2.9%
L3Harris Technologies, Inc.	2.6%
Williams Cos., Inc.	2.6%
Teledyne Technologies, Inc.	2.6%
CenterPoint Energy, Inc.	2.6%
Gates Industrial Corp. PLC	2.4%
AerCap Holdings NV	2.3%
McKesson Corp.	2.2%
Travel & Leisure Co.	2.2%
FirstEnergy Corp.	2.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Institutional Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/MidCapIntrinsic/TSRdocuments

$ 45

$ 51,821,914

15.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	25.5%
Industrials	21.2%
Consumer Discretionary	10.1%
Financials	9.5%
Utilities	7.5%
Energy	7.2%
Health Care	6.5%
Real Estate	5.4%
Consumer Staples	3.3%
Materials	2.2%
Communication Services	1.6%
Short-Term Investments	0.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Intrinsic Value Fund

NBRAX

You can find additional information about the Fund at https://www.nb.com/MidCapIntrinsic/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$64	1.21%

Footnote	Description
Footnote*	Annualized.

1.21%

76

Key Fund Statistics

Table Summary
Net Assets	$51,821,914
Number of Portfolio Holdings	76
Portfolio Turnover Rate	15%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
IPG Photonics Corp.	2.9%
L3Harris Technologies, Inc.	2.6%
Williams Cos., Inc.	2.6%
Teledyne Technologies, Inc.	2.6%
CenterPoint Energy, Inc.	2.6%
Gates Industrial Corp. PLC	2.4%
AerCap Holdings NV	2.3%
McKesson Corp.	2.2%
Travel & Leisure Co.	2.2%
FirstEnergy Corp.	2.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MidCapIntrinsic/TSRdocuments

$ 103

$ 51,821,914

15.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	25.5%
Industrials	21.2%
Consumer Discretionary	10.1%
Financials	9.5%
Utilities	7.5%
Energy	7.2%
Health Care	6.5%
Real Estate	5.4%
Consumer Staples	3.3%
Materials	2.2%
Communication Services	1.6%
Short-Term Investments	0.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Mid Cap Intrinsic Value Fund

NBRRX

You can find additional information about the Fund at https://www.nb.com/MidCapIntrinsic/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R3	$77	1.47%

Footnote	Description
Footnote*	Annualized.

1.47%

76

Key Fund Statistics

Table Summary
Net Assets	$51,821,914
Number of Portfolio Holdings	76
Portfolio Turnover Rate	15%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
IPG Photonics Corp.	2.9%
L3Harris Technologies, Inc.	2.6%
Williams Cos., Inc.	2.6%
Teledyne Technologies, Inc.	2.6%
CenterPoint Energy, Inc.	2.6%
Gates Industrial Corp. PLC	2.4%
AerCap Holdings NV	2.3%
McKesson Corp.	2.2%
Travel & Leisure Co.	2.2%
FirstEnergy Corp.	2.1%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/MidCapIntrinsic/TSRdocuments

$ 40

$ 51,821,914

15.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	25.5%
Industrials	21.2%
Consumer Discretionary	10.1%
Financials	9.5%
Utilities	7.5%
Energy	7.2%
Health Care	6.5%
Real Estate	5.4%
Consumer Staples	3.3%
Materials	2.2%
Communication Services	1.6%
Short-Term Investments	0.0%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Multi-Cap Opportunities Fund

NMULX

You can find additional information about the Fund at https://www.nb.com/MultiCapOpportunities/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$45	0.89%

Footnote	Description
Footnote*	Annualized.

0.89%

47

Key Fund Statistics

Table Summary
Net Assets	$251,489,341
Number of Portfolio Holdings	47
Portfolio Turnover Rate	17%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Alphabet, Inc. Class C	5.4%
Apple, Inc.	4.5%
NVIDIA Corp.	4.5%
Microsoft Corp.	3.9%
Brookfield Corp.	3.8%
Berkshire Hathaway, Inc. Class B	3.7%
Amazon.com, Inc.	3.6%
U.S. Foods Holding Corp.	3.3%
HCA Healthcare, Inc.	3.2%
Broadcom, Inc.	3.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MultiCapOpportunities/TSRdocuments

$ 64

$ 251,489,341

17.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	21.8%
Financials	21.8%
Consumer Discretionary	14.2%
Industrials	12.6%
Communication Services	8.4%
Health Care	6.6%
Consumer Staples	5.7%
Utilities	3.7%
Materials	3.5%
Energy	1.3%
Short-Term Investments	0.4%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Multi-Cap Opportunities Fund

NMUCX

You can find additional information about the Fund at https://www.nb.com/MultiCapOpportunities/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$102	2.01%

Footnote	Description
Footnote*	Annualized.

2.01%

47

Key Fund Statistics

Table Summary
Net Assets	$251,489,341
Number of Portfolio Holdings	47
Portfolio Turnover Rate	17%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Alphabet, Inc. Class C	5.4%
Apple, Inc.	4.5%
NVIDIA Corp.	4.5%
Microsoft Corp.	3.9%
Brookfield Corp.	3.8%
Berkshire Hathaway, Inc. Class B	3.7%
Amazon.com, Inc.	3.6%
U.S. Foods Holding Corp.	3.3%
HCA Healthcare, Inc.	3.2%
Broadcom, Inc.	3.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class E

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/MultiCapOpportunities/TSRdocuments

$ 7

$ 251,489,341

17.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	21.8%
Financials	21.8%
Consumer Discretionary	14.2%
Industrials	12.6%
Communication Services	8.4%
Health Care	6.6%
Consumer Staples	5.7%
Utilities	3.7%
Materials	3.5%
Energy	1.3%
Short-Term Investments	0.4%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Quality Equity Fund

NBSRX

You can find additional information about the Fund at https://www.nb.com/QualityEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Investor Class	$43	0.83%

Footnote	Description
Footnote*	Annualized.

0.83%

44

Key Fund Statistics

Table Summary
Net Assets	$2,575,211,086
Number of Portfolio Holdings	44
Portfolio Turnover Rate	7%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Alphabet, Inc. Class A	10.3%
Amazon.com, Inc.	8.4%
Microsoft Corp.	6.1%
Taiwan Semiconductor Manufacturing Co. Ltd.	5.1%
Interactive Brokers Group, Inc. Class A	4.7%
Space Exploration Technologies Corp., Series E	4.4%
Applied Materials, Inc.	4.2%
NVIDIA Corp.	4.1%
Berkshire Hathaway, Inc. Class B	3.3%
Berkshire Hathaway, Inc. Class A	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Trust Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/QualityEquity/TSRdocuments

$ 53

$ 2,575,211,086

7.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	27.0%
Financials	19.8%
Industrials	16.5%
Consumer Discretionary	12.3%
Communication Services	10.4%
Health Care	10.0%
Energy	1.2%
Consumer Staples	1.2%
Materials	0.4%
Short-Term Investments	1.2%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Quality Equity Fund

NBSLX

You can find additional information about the Fund at https://www.nb.com/QualityEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$34	0.66%

Footnote	Description
Footnote*	Annualized.

0.66%

44

Key Fund Statistics

Table Summary
Net Assets	$2,575,211,086
Number of Portfolio Holdings	44
Portfolio Turnover Rate	7%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Alphabet, Inc. Class A	10.3%
Amazon.com, Inc.	8.4%
Microsoft Corp.	6.1%
Taiwan Semiconductor Manufacturing Co. Ltd.	5.1%
Interactive Brokers Group, Inc. Class A	4.7%
Space Exploration Technologies Corp., Series E	4.4%
Applied Materials, Inc.	4.2%
NVIDIA Corp.	4.1%
Berkshire Hathaway, Inc. Class B	3.3%
Berkshire Hathaway, Inc. Class A	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/QualityEquity/TSRdocuments

$ 54

$ 2,575,211,086

7.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	27.0%
Financials	19.8%
Industrials	16.5%
Consumer Discretionary	12.3%
Communication Services	10.4%
Health Care	10.0%
Energy	1.2%
Consumer Staples	1.2%
Materials	0.4%
Short-Term Investments	1.2%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Quality Equity Fund

NRACX

You can find additional information about the Fund at https://www.nb.com/QualityEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$92	1.78%

Footnote	Description
Footnote*	Annualized.

1.78%

44

Key Fund Statistics

Table Summary
Net Assets	$2,575,211,086
Number of Portfolio Holdings	44
Portfolio Turnover Rate	7%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Alphabet, Inc. Class A	10.3%
Amazon.com, Inc.	8.4%
Microsoft Corp.	6.1%
Taiwan Semiconductor Manufacturing Co. Ltd.	5.1%
Interactive Brokers Group, Inc. Class A	4.7%
Space Exploration Technologies Corp., Series E	4.4%
Applied Materials, Inc.	4.2%
NVIDIA Corp.	4.1%
Berkshire Hathaway, Inc. Class B	3.3%
Berkshire Hathaway, Inc. Class A	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R3

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/QualityEquity/TSRdocuments

$ 67

$ 2,575,211,086

7.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	27.0%
Financials	19.8%
Industrials	16.5%
Consumer Discretionary	12.3%
Communication Services	10.4%
Health Care	10.0%
Energy	1.2%
Consumer Staples	1.2%
Materials	0.4%
Short-Term Investments	1.2%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Quality Equity Fund

NRSRX

You can find additional information about the Fund at https://www.nb.com/QualityEquity/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R6	$30	0.57%

Footnote	Description
Footnote*	Annualized.

0.57%

44

Key Fund Statistics

Table Summary
Net Assets	$2,575,211,086
Number of Portfolio Holdings	44
Portfolio Turnover Rate	7%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Alphabet, Inc. Class A	10.3%
Amazon.com, Inc.	8.4%
Microsoft Corp.	6.1%
Taiwan Semiconductor Manufacturing Co. Ltd.	5.1%
Interactive Brokers Group, Inc. Class A	4.7%
Space Exploration Technologies Corp., Series E	4.4%
Applied Materials, Inc.	4.2%
NVIDIA Corp.	4.1%
Berkshire Hathaway, Inc. Class B	3.3%
Berkshire Hathaway, Inc. Class A	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class E

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/QualityEquity/TSRdocuments

$ 2

$ 2,575,211,086

7.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Information Technology	27.0%
Financials	19.8%
Industrials	16.5%
Consumer Discretionary	12.3%
Communication Services	10.4%
Health Care	10.0%
Energy	1.2%
Consumer Staples	1.2%
Materials	0.4%
Short-Term Investments	1.2%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Real Estate Fund

NBRFX

You can find additional information about the Fund at https://www.nb.com/RealEstate/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$53	1.04%

Footnote	Description
Footnote*	Annualized.

1.04%

36

Key Fund Statistics

Table Summary
Net Assets	$672,221,347
Number of Portfolio Holdings	36
Portfolio Turnover Rate	19%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Welltower, Inc.	9.4%
Equinix, Inc.	8.7%
Prologis, Inc.	8.5%
American Tower Corp.	7.4%
Digital Realty Trust, Inc.	4.5%
Ventas, Inc.	4.3%
Simon Property Group, Inc.	4.0%
AvalonBay Communities, Inc.	4.0%
Public Storage	3.6%
SBA Communications Corp.	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Institutional Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/RealEstate/TSRdocuments

$ 44

$ 672,221,347

19.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Health Care	18.2%
Telecommunications	13.2%
Data Centers	13.1%
Industrial	9.6%
Apartments	8.8%
Free Standing	7.2%
Self Storage	6.2%
Regional Malls	5.4%
Shopping Centers	4.1%
Manufactured Homes	3.6%
Single Family Homes	2.9%
Specialty	2.9%
Office	2.0%
Gaming	1.4%
Short-Term Investments	1.4%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Real Estate Fund

NREAX

You can find additional information about the Fund at https://www.nb.com/RealEstate/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class A	$62	1.21%

Footnote	Description
Footnote*	Annualized.

1.21%

36

Key Fund Statistics

Table Summary
Net Assets	$672,221,347
Number of Portfolio Holdings	36
Portfolio Turnover Rate	19%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Welltower, Inc.	9.4%
Equinix, Inc.	8.7%
Prologis, Inc.	8.5%
American Tower Corp.	7.4%
Digital Realty Trust, Inc.	4.5%
Ventas, Inc.	4.3%
Simon Property Group, Inc.	4.0%
AvalonBay Communities, Inc.	4.0%
Public Storage	3.6%
SBA Communications Corp.	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class C

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/RealEstate/TSRdocuments

$ 100

$ 672,221,347

19.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Health Care	18.2%
Telecommunications	13.2%
Data Centers	13.1%
Industrial	9.6%
Apartments	8.8%
Free Standing	7.2%
Self Storage	6.2%
Regional Malls	5.4%
Shopping Centers	4.1%
Manufactured Homes	3.6%
Single Family Homes	2.9%
Specialty	2.9%
Office	2.0%
Gaming	1.4%
Short-Term Investments	1.4%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Real Estate Fund

NRERX

You can find additional information about the Fund at https://www.nb.com/RealEstate/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R3	$75	1.46%

Footnote	Description
Footnote*	Annualized.

1.46%

36

Key Fund Statistics

Table Summary
Net Assets	$672,221,347
Number of Portfolio Holdings	36
Portfolio Turnover Rate	19%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Welltower, Inc.	9.4%
Equinix, Inc.	8.7%
Prologis, Inc.	8.5%
American Tower Corp.	7.4%
Digital Realty Trust, Inc.	4.5%
Ventas, Inc.	4.3%
Simon Property Group, Inc.	4.0%
AvalonBay Communities, Inc.	4.0%
Public Storage	3.6%
SBA Communications Corp.	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R6

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/RealEstate/TSRdocuments

$ 39

$ 672,221,347

19.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Health Care	18.2%
Telecommunications	13.2%
Data Centers	13.1%
Industrial	9.6%
Apartments	8.8%
Free Standing	7.2%
Self Storage	6.2%
Regional Malls	5.4%
Shopping Centers	4.1%
Manufactured Homes	3.6%
Single Family Homes	2.9%
Specialty	2.9%
Office	2.0%
Gaming	1.4%
Short-Term Investments	1.4%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Real Estate Fund

NREEX

You can find additional information about the Fund at https://www.nb.com/RealEstate/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class E	$5	0.09%

Footnote	Description
Footnote*	Annualized.

0.09%

36

Key Fund Statistics

Table Summary
Net Assets	$672,221,347
Number of Portfolio Holdings	36
Portfolio Turnover Rate	19%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Welltower, Inc.	9.4%
Equinix, Inc.	8.7%
Prologis, Inc.	8.5%
American Tower Corp.	7.4%
Digital Realty Trust, Inc.	4.5%
Ventas, Inc.	4.3%
Simon Property Group, Inc.	4.0%
AvalonBay Communities, Inc.	4.0%
Public Storage	3.6%
SBA Communications Corp.	3.2%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Investor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/SmallCapGrowth/TSRdocuments

$ 53

$ 480,173,225

104.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.7%
Health Care	24.1%
Information Technology	19.7%
Financials	8.6%
Consumer Discretionary	8.5%
Energy	5.5%
Materials	2.2%
Consumer Staples	2.0%
Utilities	0.6%
Short-Term Investments	2.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Small Cap Growth Fund

NBMOX

You can find additional information about the Fund at https://www.nb.com/SmallCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Trust Class	$66	1.25%

Footnote	Description
Footnote*	Annualized.

1.25%

95

Key Fund Statistics

Table Summary
Net Assets	$480,173,225
Number of Portfolio Holdings	95
Portfolio Turnover Rate	104%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Rambus, Inc.	2.8%
FirstCash Holdings, Inc.	2.6%
Piper Sandler Cos.	2.5%
InterDigital, Inc.	2.3%
RadNet, Inc.	2.2%
State Street Navigator Securities Lending Government Money Market Portfolio	2.1%
Dave, Inc.	2.0%
Bloom Energy Corp. Class A	1.9%
Zurn Elkay Water Solutions Corp.	1.9%
Mirion Technologies, Inc.	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Advisor Class

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/SmallCapGrowth/TSRdocuments

$ 73

$ 480,173,225

104.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.7%
Health Care	24.1%
Information Technology	19.7%
Financials	8.6%
Consumer Discretionary	8.5%
Energy	5.5%
Materials	2.2%
Consumer Staples	2.0%
Utilities	0.6%
Short-Term Investments	2.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Small Cap Growth Fund

NBSMX

You can find additional information about the Fund at https://www.nb.com/SmallCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Institutional Class	$47	0.90%

Footnote	Description
Footnote*	Annualized.

0.90%

95

Key Fund Statistics

Table Summary
Net Assets	$480,173,225
Number of Portfolio Holdings	95
Portfolio Turnover Rate	104%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Rambus, Inc.	2.8%
FirstCash Holdings, Inc.	2.6%
Piper Sandler Cos.	2.5%
InterDigital, Inc.	2.3%
RadNet, Inc.	2.2%
State Street Navigator Securities Lending Government Money Market Portfolio	2.1%
Dave, Inc.	2.0%
Bloom Energy Corp. Class A	1.9%
Zurn Elkay Water Solutions Corp.	1.9%
Mirion Technologies, Inc.	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class A

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.877.9700

https://www.nb.com/SmallCapGrowth/TSRdocuments

$ 66

$ 480,173,225

104.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.7%
Health Care	24.1%
Information Technology	19.7%
Financials	8.6%
Consumer Discretionary	8.5%
Energy	5.5%
Materials	2.2%
Consumer Staples	2.0%
Utilities	0.6%
Short-Term Investments	2.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Small Cap Growth Fund

NSNCX

You can find additional information about the Fund at https://www.nb.com/SmallCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.877.9700 or fundinfo@nb.com.

fundinfo@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class C	$105	2.01%

Footnote	Description
Footnote*	Annualized.

2.01%

95

Key Fund Statistics

Table Summary
Net Assets	$480,173,225
Number of Portfolio Holdings	95
Portfolio Turnover Rate	104%

Top Ten Securities

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Rambus, Inc.	2.8%
FirstCash Holdings, Inc.	2.6%
Piper Sandler Cos.	2.5%
InterDigital, Inc.	2.3%
RadNet, Inc.	2.2%
State Street Navigator Securities Lending Government Money Market Portfolio	2.1%
Dave, Inc.	2.0%
Bloom Energy Corp. Class A	1.9%
Zurn Elkay Water Solutions Corp.	1.9%
Mirion Technologies, Inc.	1.9%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Class R3

This semi-annual shareholder report contains important information about the Fund for the period of September 1, 2025 to February 28, 2026.

800.366.6264

https://www.nb.com/SmallCapGrowth/TSRdocuments

$ 79

$ 480,173,225

104.00%

Sector Allocation

(as a % of Total Investments^{Footnote Reference*})

Table Summary
Industrials	26.7%
Health Care	24.1%
Information Technology	19.7%
Financials	8.6%
Consumer Discretionary	8.5%
Energy	5.5%
Materials	2.2%
Consumer Staples	2.0%
Utilities	0.6%
Short-Term Investments	2.1%
Total	100.0%

Footnote	Description
Footnote*	Derivatives (other than options purchased), if any, are excluded from this calculation.

Small Cap Growth Fund

NSRSX

You can find additional information about the Fund at https://www.nb.com/SmallCapGrowth/TSRdocuments. You can also request this information by contacting your financial intermediary or investment provider or at 800.366.6264 or issdl@nb.com.

issdl@nb.com

What were the Fund's costs for the past six months?

(based on a hypothetical $10,000 investment)

Table Summary
Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^{Footnote Reference*}
Class R6	$42	0.80%

Footnote	Description
Footnote*	Annualized.

0.80%

95

Key Fund Statistics

Table Summary
Net Assets	$480,173,225
Number of Portfolio Holdings	95
Portfolio Turnover Rate	104%