SCHEDULE: Morgan Stanley Discloses 6.1% Stake in Neuberger Berman Fund

Morgan Stanley and its subsidiary, Morgan Stanley Smith Barney LLC, have disclosed a 6.1% beneficial ownership stake in Neuberger Berman Energy Infrastructure & Income Fund Inc. as of June 30, 2025.

Summary

• Morgan Stanley and its wholly-owned subsidiary, Morgan Stanley Smith Barney LLC, reported beneficial ownership of 3,458,002 shares of Common Stock in Neuberger Berman Energy Infrastructure & Income Fund Inc.
• This beneficial ownership represents 6.1% of the issuer's class of securities.
• The filing is an Amendment No. 13 to a Schedule 13G, indicating an update to a previously reported ownership stake.
• The event date requiring this filing was June 30, 2025, with the filing submitted on August 7, 2025.
• Morgan Stanley and Morgan Stanley Smith Barney LLC each reported shared dispositive power over 3,458,002 shares and shared voting power over 1.00 shares.
• The filing was made under Rule 13d-1(b), signifying that the reporting persons are institutional investors holding the securities in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual disclosure of beneficial ownership by an institutional investor, providing no positive or negative operational or financial news about the issuer.

Positives

• NA This filing is a disclosure of beneficial ownership and does not contain information on positive financial or operational developments of the issuer.

Negatives

• NA This filing is a disclosure of beneficial ownership and does not contain information on negative financial or operational developments of the issuer.

Risks

• NA This filing is a disclosure of beneficial ownership and does not detail specific risks related to the issuer's operations or financial health. It only certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Future Outlook

NA This filing is a Schedule 13G, which reports beneficial ownership and does not provide forward-looking statements or guidance.

Management Comments

• NA This filing is a Schedule 13G, which reports beneficial ownership and does not include management comments from the issuer.

Industry Context

Schedule 13G filings are standard disclosures by institutional investors who acquire more than 5% of a company's voting class of securities, indicating a passive investment intent. This filing shows Morgan Stanley's continued or new significant stake in an energy infrastructure and income fund, aligning with broader trends of institutional investment in income-generating and infrastructure-related assets.

Comparison to Industry Standards

• NA This filing is a disclosure of beneficial ownership by an institutional investor and does not provide performance metrics or operational results for comparison to industry standards or specific comparable companies/projects.

Management Changes

Corporate Governance

Legal Proceedings

• NA This filing is a Schedule 13G and does not report on legal proceedings.

Related Party Transactions

• Morgan Stanley Smith Barney LLC, a wholly-owned subsidiary of Morgan Stanley, is identified as owning or being deemed to beneficially own the securities reported by Morgan Stanley as a parent holding company.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, potentially signaling confidence from a major financial institution.
• Management: Awareness of a significant passive stake held by a large financial institution.

Next Steps

• NA This filing is a disclosure of beneficial ownership and does not outline future actions, events, or milestones.

Key Dates

Keywords

Neuberger Berman, Morgan Stanley, Schedule 13G, Beneficial Ownership, Energy Infrastructure, Income Fund, Common Stock, Institutional Investor