0001145549-24-023157.txt : 20240422 0001145549-24-023157.hdr.sgml : 20240422 20240422163554 ACCESSION NUMBER: 0001145549-24-023157 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240229 FILED AS OF DATE: 20240422 DATE AS OF CHANGE: 20240422 PERIOD START: 20241130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Neuberger Berman Energy Infrastructure & Income Fund Inc. CENTRAL INDEX KEY: 0001562051 ORGANIZATION NAME: IRS NUMBER: 462081430 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22770 FILM NUMBER: 24861633 BUSINESS ADDRESS: STREET 1: 1290 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10104 BUSINESS PHONE: (212) 476-8800 MAIL ADDRESS: STREET 1: 1290 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10104 FORMER COMPANY: FORMER CONFORMED NAME: Neuberger Berman MLP & Energy Income Fund Inc. DATE OF NAME CHANGE: 20190724 FORMER COMPANY: FORMER CONFORMED NAME: Neuberger Berman MLP Income Fund Inc. DATE OF NAME CHANGE: 20121113 NPORT-P 1 primary_doc.xml NPORT-P false 0001562051 XXXXXXXX Neuberger Berman Energy Infrastructure and Income Fund Inc. 811-22770 0001562051 549300P5ICT7WWGP8224 1290 Avenue of the Americas New York 10104 2124768800 Neuberger Berman Energy Infrastructure and Income Fund Inc. 549300P5ICT7WWGP8224 2024-11-30 2024-02-29 N 569258116.700000000000 109184941.800000000000 460073174.900000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 103000000.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 N Antero Midstream Corp N/A Antero Midstream Corp 03676B102 840000.000000000000 NS USD 11256000.020000000000 2.4465673363 Long EC CORP US N 1 N N N Antero Resources Corp APVBKPOULHUX7YZLKU17 Antero Resources Corp 03674X106 976000.000000000000 NS USD 25083199.980000000000 5.4520022789 Long EC CORP US N 1 N N N California Resources Corp 5493003Q8F0T4F4YMR48 California Resources Corp 13057Q305 100000.000000000000 NS USD 5217000.000000000000 1.1339500507 Long EC CORP US N 1 N N N Cedar Fair LP 549300TUVLNQQ6BVKH61 Cedar Fair LP 150185106 125000.000000000000 NS USD 5097500.000000000000 1.1079759217 Long EC CORP US N 1 N N N CenterPoint Energy Inc 21TPXMRRHFKOBHDC8J74 CenterPoint Energy Inc 15189T107 860000.000000000000 NS USD 23650000.030000000000 5.1404866270 Long EC CORP US N 1 N N N Cheniere Energy Inc MIHC87W9WTYSYZWV1J40 Cheniere Energy Inc 16411R208 121000.000000000000 NS USD 18779200.000000000000 4.0817854690 Long EC CORP US N 1 N N N Civitas Resources Inc IIVIHPH28S64K95M2381 Civitas Resources Inc 17888H103 150000.000000000000 NS USD 10301999.980000000000 2.2392090089 Long EC CORP US N 1 N N N Clearway Energy Inc 549300LHAZ9HA9G3XC48 Clearway Energy Inc 18539C204 480000.000000000000 NS USD 10463999.970000000000 2.2744207967 Long EC CORP US N 1 N N N CME Group Inc LCZ7XYGSLJUHFXXNXD88 CME Group Inc 12572Q105 36000.000000000000 NS USD 7932600.010000000000 1.7242039838 Long EC CORP US N 1 N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 ConocoPhillips 20825C104 150000.000000000000 NS USD 16880999.990000000000 3.6691989255 Long EC CORP US N 1 N N N DT Midstream Inc N/A DT Midstream Inc 23345M107 200000.000000000000 NS USD 11526000.000000000000 2.5052536485 Long EC CORP US N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer LP 29273V100 4160000.000000000000 NS USD 60902399.950000000000 13.2375463888 Long EC CORP US N 1 N N N Enterprise Products Partners L K4CDIF4M54DJZ6TB4Q48 Enterprise Products Partners LP 293792107 2076000.000000000000 NS USD 56986200.030000000000 12.3863339875 Long EC CORP US N 1 N N N Exxon Mobil Corp J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corp 30231G102 132000.000000000000 NS USD 13796640.020000000000 2.9987925340 Long EC CORP US N 1 N N N Invesco Treasury Portfolio 5493004B3TM8ZIDDDC39 STIT - Treasury Portfolio 825252406 15183350.000000000000 NS USD 15183349.930000000000 3.3002032629 Long STIV RF US N 2 N N N Kinetik Holdings Inc N/A Altus Midstream Co 02215L209 516000.000000000000 NS USD 18225120.010000000000 3.9613524553 Long EC CORP US N 1 N N N MPLX LP 5493000CZJ19CK4P3G36 MPLX LP 55336V100 132000.000000000000 NS USD 5074080.000000000000 1.1028854271 Long EC CORP US N 1 N N N New Fortress Energy Inc 254900EICTYTCHA5X705 New Fortress Energy Inc 644393100 600000.000000000000 NS USD 21090000.000000000000 4.5840533964 Long EC CORP US N 1 N N N NextEra Energy Inc 254900RHL9MEUS5NKX63 NextEra Energy Inc 65339F101 150000.000000000000 NS USD 8278500.000000000000 1.7993876739 Long EC CORP US N 1 N N N NextEra Energy Partners LP 5493008F4ZOQFNG3WN54 NextEra Energy Partners LP 65341B106 444000.000000000000 NS USD 12196679.970000000000 2.6510304524 Long EC CORP US N 1 N N N NuStar Energy LP 5493003BMLTUIEG2LG44 NuStar Energy LP 67058H102 616000.000000000000 NS USD 14549919.980000000000 3.1625230015 Long EC CORP US N 1 N N N Occidental Petroleum Corp IM7X0T3ECJW4C1T7ON55 Occidental Petroleum Corp 674599105 116000.000000000000 NS USD 7030760.000000000000 1.5281829899 Long EC CORP US N 1 N N N ONEOK Inc 2T3D6M0JSY48PSZI1Q41 ONEOK Inc 682680103 38000.000000000000 NS USD 2854560.000000000000 0.6204578219 Long EC CORP US N 1 N N N Pembina Pipeline Corp 5493002W3L9YICM6FU21 Pembina Pipeline Corp 706327103 64000.000000000000 NS USD 2227840.000000000000 0.4842360132 Long EC CORP CA N 1 N N N Sempra PBBKGKLRK5S5C0Y4T545 Sempra Energy 816851109 320000.000000000000 NS USD 22592000.000000000000 4.9105232021 Long EC CORP US N 1 N N N Targa Resources Corp 5493003QENHHS261UR94 Targa Resources Corp 87612G101 648000.000000000000 NS USD 63659520.000000000000 13.8368249820 Long EC CORP US N 1 N N N Tourmaline Oil Corp 894500QKSAGWVM0ZG560 Tourmaline Oil Corp 89156V106 350000.000000000000 NS 15839811.380000000000 3.4428895759 Long EC CORP CA N 1 N N N Western Midstream Partners LP N/A Western Midstream Partners LP 958669103 1260000.000000000000 NS USD 42146999.980000000000 9.1609340165 Long EC CORP US N 1 N N N Williams Cos Inc/The D71FAKCBLFS2O0RBPG08 Williams Cos Inc/The 969457100 1100000.000000000000 NS USD 39534000.010000000000 8.5929808924 Long EC CORP US N 1 N N N 2024-04-22 Neuberger Berman Energy Infrastructure and Income Fund Inc. /s/ John McGovern John McGovern Treasurer XXXX NPORT-EX 2 nml.htm SOI AND NOTES

Schedule of Investments Energy Infrastructure and Income Fund Inc.†^ (Unaudited) February 29, 2024
   
             
             
NUMBER OF SHARES
     
VALUE
 
             
Common Stocks 80.1%
         
             
Capital Markets 1.7%
           
               36,000
CME Group Inc.
     
 $          7,932,600
 (a)
             
Electric Utilities 1.8%
           
             150,000
NextEra Energy Inc.
     
             8,278,500
 (a)
             
Independent Power and Renewable Electricity Producers 4.9%
       
             480,000
Clearway Energy Inc.
     
           10,464,000
 (a)
             440,000
NextEra Energy Partners LP
     
           12,196,680
 (a)
         
           22,660,680
 
             
Multi-Utilities 10.1%
           
             860,000
CenterPoint Energy Inc.
     
           23,650,000
 (a)
             320,000
Sempra Energy
     
           22,592,000
 (a)
         
           46,242,000
 
             
Oil, Gas & Consumable Fuels 61.6%
         
             840,000
Antero Midstream Corp.
     
           11,256,000
 (a)
             976,000
Antero Resources Corp.
     
           25,083,200
 (a)*
             100,000
California Resources Corp.
     
             5,217,000
 
             121,000
Cheniere Energy Inc.
     
           18,779,200
 (a)
             150,000
Civitas Resources Inc.
     
           10,302,000
 (a)
             150,000
ConocoPhillips
     
           16,881,000
 (a)
             200,000
DT Midstream Inc.
     
           11,526,000
 
             132,000
Exxon Mobil Corp.
     
           13,796,640
 (a)
             516,000
Kinetik Holdings Inc.
     
           18,225,120
 (a)
             600,000
New Fortress Energy Inc.
     
           21,090,000
 (a)
             116,000
Occidental Petroleum Corp.
     
             7,030,760
 (a)
               38,000
ONEOK Inc.
     
             2,854,560
 (a)
               64,000
Pembina Pipeline Corp.
     
             2,227,840
 
             648,000
Targa Resources Corp.
     
           63,659,520
 (a)
             350,000
Tourmaline Oil Corp.
     
           15,839,811
 
          1,100,000
Williams Cos Inc.
     
           39,534,000
 (a)
         
         283,302,651
 
             
Total Common Stocks (Cost $257,952,531)
     
         368,416,431
 
             
NUMBER OF UNITS
         
             
Master Limited Partnerships and Limited Partnerships 40.1%
       
             
Hotels, Restaurants & Leisure 1.1%
         
             125,000
Cedar Fair LP
     
             5,097,500
 (a)
             
Oil & Gas Storage & Transportation 39.0%
         
          4,160,000
Energy Transfer LP
     
           60,902,400
 (a)
          2,076,000
Enterprise Products Partners LP
     
           56,986,200
 (a)
             132,000
MPLX LP
     
             5,074,080
 (a)
             616,000
NuStar Energy LP
     
           14,549,920
 (a)
          1,260,000
Western Midstream Partners LP
     
           42,147,000
 (a)*
         
         179,659,600
 
             
Total Master Limited Partnerships and Limited Partnerships (Cost $101,446,605)
   
         184,757,100
 
             
NUMBER OF SHARES
         
             
Short-Term Investments 2.5%
         
             
 Investment Companies 2.5%
         
        11,408,791
Invesco STIT Treasury Portfolio Money Market Fund Institutional Class, 5.24%(b) (Cost $11,408,791)
 $        11,408,791
 
             
Total Investments 122.7% (Cost $370,807,927)
     
         564,582,322
 
Liabilities less other Assets (22.7)%
     
       (104,511,699)
 
Net Assets Applicable to Common Stockholders 100.0%
     
 $      460,070,623
 
             
* Non-income producing security.
         
(a) All or a portion of this security is pledged with the custodian in connection with the Fund's loans payable outstanding.
   
(b) Represents 7-day effective yield as of February 29, 2024.
       



Schedule of Investments Energy Infrastructure and Income Fund Inc.†^ (Unaudited) (cont'd)
   
             
The following is a summary, categorized by Level (see Notes to Schedule of Investments), of inputs used to value the Fund's investments as of February 29, 2024:
             
             
Asset Valuation Inputs
         
Investments:
Level 1
Level 2
Level 3
Total
 
Common Stocks(a)
 $     368,416,431
 $                    -
 $                         -
 $    368,416,431
 
Master Limited Partnerships and Limited Partnerships(a)
         184,757,100
                         -
                            -
       184,757,100
 
Short-Term Investments
                              -
      11,408,791
                            -
          11,408,791
 
Total Investments
 $     553,173,531
 $   11,408,791
 $                         -
 $    564,582,322
 
             
          (a)   The Schedule of Investments provides information on the industry or sector categorization.
 
             
        ^   A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.
 
             
        †    Formerly Neuberger Berman MLP and Energy Income Fund Inc. through May 14, 2023.
   



February 29, 2024
 
Notes to Schedule of Investments Energy Infrastructure and Income Fund Inc. (Unaudited)

In accordance with Accounting Standards Codification 820 “Fair Value Measurement” (“ASC 820”), all investments held by Neuberger Berman Energy Infrastructure and Income Fund Inc. (the “Fund”) (formerly, Neuberger Berman MLP and Energy Income Fund Inc.), are carried at the value that Neuberger Berman Investment Advisers LLC (“Management”) believes the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Fund’s investments, some of which are discussed below. At times, Management may need to apply significant judgement to value investments in accordance with ASC 820.

ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

Level 1 – unadjusted quoted prices in active markets for identical investments

Level 2 – other observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.)

Level 3 – unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.

The value of the Fund’s investments in equity securities and master limited partnerships and limited partnerships, for which market quotations are available, is generally determined by Management by obtaining valuations from independent pricing services based on the latest sale price quoted on a principal exchange or market for that security (Level 1 inputs). Securities traded primarily on the NASDAQ Stock Market are normally valued at the NASDAQ Official Closing Price (“NOCP”) provided by NASDAQ each business day. The NOCP is the most recently reported price as of 4:00:02 p.m., Eastern Time, unless that price is outside the range of the “inside” bid and asked prices (i.e., the bid and asked prices that dealers quote to each other when trading for their own accounts); in that case, NASDAQ will adjust the price to equal the inside bid or asked price, whichever is closer. Because of delays in reporting trades, the NOCP may not be based on the price of the last trade to occur before the market closes. If there is no sale of a security on a particular day, the independent pricing services may value the security based on market quotations.

The value of the Fund’s investments in foreign securities is generally determined using the same valuation methods and inputs as other Fund investments, as discussed above. Foreign security prices expressed in local currency values are normally translated from the local currency into U.S. dollars using the exchange rates as of 4:00 p.m., Eastern Time on days the New York Stock Exchange is open for business. Management has approved the use of ICE Data Services (“ICE”) to assist in determining the fair value of foreign equity securities when changes in the value of a certain index suggest that the closing prices on the foreign exchanges may no longer represent the amount that the Fund could expect to receive for those securities or when foreign markets are closed and U.S. markets are open. In each of these events, ICE will provide adjusted prices for certain foreign equity securities using a statistical analysis of historical correlations of multiple factors (Level 2 inputs). In the absence of precise information about the market values of these foreign securities as of the time at which the Fund’s share price is calculated, Management has determined based on available data that prices adjusted or evaluated in this way are likely to be closer to the prices the Fund could realize on a current sale than the prices of those securities established at the close of the foreign markets in which the securities primarily trade.

Management has developed a process to periodically review information provided by independent pricing services for all types of securities.

Investments in non-exchange traded investment companies are valued using the respective fund’s daily calculated net asset value per share (Level 2 inputs), when available.

If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount the Fund might reasonably expect to receive on a current sale in an orderly transaction, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). If such quotations are not available, the security is valued using methods Management has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security. Pursuant to Rule 2a-5 under the Investment Company Act of 1940, the Fund’s Board of Directors designated Management as the Fund’s valuation designee. As the Fund’s valuation designee, Management is responsible for determining fair value in good faith for all Fund investments. Inputs and assumptions considered in determining fair value of a security based on Level 2 or Level 3 inputs may include, but are not limited to, the type of security; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or pricing services; information obtained from the issuer and analysts; an analysis of the company’s or issuer’s financial statements; an evaluation of the inputs that influence the issuer and the market(s) in which the security is purchased and sold.

Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or traded.

For information on the Fund’s significant accounting policies, please refer to the Fund’s most recent stockholder reports.