Fund Evaluator:
Neuberger Large Cap Value Inv (NPRTX)
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Fund Details
Neuberger Large Cap Value Inv Overview
Neuberger Large Cap Value Inv (NPRTX) is an actively managed U.S. Equity Large Value fund. Neuberger Berman launched the fund in 1975.
The investment seeks long-term growth of capital. The fund normally invests at least 80% of its net assets in equity securities of large-capitalization companies, which the portfolio managers defines as those with a market capitalization within the market capitalization range of the Russell 1000® Value Index at the time of purchase. The Portfolio Managers look for what they believe to be well-managed companies whose stock prices are undervalued. Although the fund invests primarily in domestic stocks, it may also invest in stocks of foreign companies.
About Neuberger Large Cap Value Inv (NPRTX)
There are 2 members of the management team with an average tenure of 9.90 years: Eli Salzmann (2011), David Levine (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Neuberger Large Cap Value Inv has 78 securities in its portfolio. The top 10 holdings constitute 28.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Neuberger Large Cap Value Inv is part of the Equity global asset class and is within the U.S. Equity fund group. Neuberger Large Cap Value Inv has 4.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.0%. There is 4.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Neuberger Large Cap Value Inv has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NPRTX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Neuberger Large Cap Value Inv expense ratio is above average compared to funds in the Large Value category. Neuberger Large Cap Value Inv has an expense ratio of 0.75%, which is 19% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Neuberger Large Cap Value Inv has a portfolio turnover rate of 106%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, Neuberger Large Cap Value Inv returned 1.8%, which earned it a grade of C, as the Large Value category had an average return of 1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Neuberger Large Cap Value Inv has a trailing yield of 1.28%, which is above the 1.25% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Neuberger Large Cap Value Inv Grades
Year to date, the fund has returned 19.3%, 8.2 percentage points better than the category, which translates into a grade of A. The fund has returned 34.7% over the past year (grade of A), 16.6% over the past three years (grade of B) and 10.1% per year over the past five years (grade of C) and 14.0% per year over the past 10 years (grade of A).
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NPRTX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NPRTX Return (NAV) | 1.8% | 12.1% | 34.7% | 16.6% | 10.1% | 14.0% |
| NPRTX Grade | C | B | A | B | C | A |
| +/- Category | 0.2% | 2.3% | 13.8% | 0.7% | -0.3% | 2.7% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| NPRTX Tax Cost Ratio | na | na | 1.7% | 1.2% | 1.2% | 1.5% |
NPRTX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NPRTX Return (NAV) | 19.3% | 20.7% | 10.9% | -1.7% | -1.2% | 28.1% | 14.5% | 23.9% | -0.9% | 13.4% | 28.2% |
| NPRTX Grade | A | A | F | F | A | B | A | D | A | F | A |
| +/- Category | 8.2% | 5.5% | -3.2% | -13.6% | 4.8% | 2.3% | 10.6% | -1.7% | 7.5% | -3.0% | 13.7% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 11.0% |
| Total Risk Index: | 0.90 - Average |
| Category Risk Index: | 0.91 - Low |
| Category Risk Grade: | A (17% Rank) |
| Beta: | 0.58 |
| R-Squared: | 47% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $10062 Mil |
| Fund Total Assets: | $1,828 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 106% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 14.6 years | |||
| Average Tenure: 9.9 years | |||
| Managers (Year): Salzmann Eli (2011), Levine David (2021) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 78 |
| % in Top 10 Holdings: | 28.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.6% |
Portfolio Allocation |
|
| Domestic Stock: | 93.0% |
| Foreign Stock: | 4.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Neuberger Berman |
| Phone Number: | 800-877-9700 |
| Website: | www.nb.com |
| Status: | Closed |
| Inception Date: | January 20, 1975 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.75% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Neuberger Large Cap Value Inv |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
