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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 Index</title>
        <cusip>00P9JE2K8</cusip>
        <identifiers>
          <isin value="US00P9JE2K82"/>
          <other otherDesc="Option Ticker" value="X5N22P 3770 US Index"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6925.00000000</valUSD>
        <pctVal>-0.01950278626</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 Index</indexName>
                <indexIdentifier>US78378X1072</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>3770.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2022-07-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5424.02000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="CP and reference assets are provided in response to C.11 and we take no position on whether either should be deemed the issuer of a derivative." noteItem="C.1.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-08-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Neuberger Berman Advisers Management Trust</ncom:nameOfApplicant>
      <ncom:signature>John McGovern</ncom:signature>
      <ncom:signerName>John McGovern</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
