NB Crossroads Private Markets Fund V (TI) LP (the “TI Fund”) invests substantially all of its assets in NB Crossroads Private Markets Fund V Holdings LP (the “Master Fund”). The percentage of the Master Fund’s partners’ capital owned by the TI Fund at December 31, 2023, was 57.51%. The TI Fund has included the Master Fund’s schedule of investments as of December 31, 2023, below. The Master Fund’s schedule of investments was also filed on Form NPORT-EX with the Securities and Exchange Commission on February 29, 2024.

NB Crossroads Private Markets Fund V Holdings LP

Schedule of Investments

December 31, 2023 (Unaudited)

Investments / Co-investments (A),(B),(D)	Acquisition Type	Acquisition Dates (C)		Geographic Region (E)	Cost		Fair Value
Large-cap Buyout (26.16%)
Advent International GPE IX Limited Partnership	Primary		10/2019-05/2023	North America	$	10,357,765	$	15,673,387
EQT VIII Co-Investment (H) SCSp	Co-Investment		09/2019	North America		-		679
Green Equity Investors, VIII, L.P.	Primary		12/2020-06/2023	North America		10,578,488		12,648,277
H&F Unite Partners, L.P.	Co-Investment		05/2019	North America		1,252,070		2,091,544
Hellman & Friedman Capital Partners IX, L.P.	Primary		04/2020-09/2023	North America		6,107,167		8,751,133
KKR Ascend Co-Invest L.P.	Co-Investment		05/2019	North America		2,600,000		3,882,964
KKR Banff Co-Investment L.P.	Co-Investment		10/2018	North America		2,250,000		4,722,650
KKR European Fund V (USD) SCSp	Primary		01/2020-08/2023	Europe		8,735,150		10,664,853
KKR Parrot Co-Invest, L.P.	Co-Investment		12/2019	Australia		3,300,000		7,021,210
KKR Precise Co-Invest L.P.	Co-Investment		05/2019	Europe		3,604,012		13,351,437
NB Bluebird S.à.r.l. (F)	Co-Investment		11/2019-12/2023	Europe		3,448,064		8,798,365
NB Horoscope Aggregator II LP	Co-Investment		06/2021	Europe		1,516,979		1,584,038
NB HUB Aggregator LP	Co-Investment		11/2018-12/2023	North America		981,518		1,986,707
PAI Strategic Partnerships SCSp	Secondary		12/2019-07/2023	Europe		4,699,709		8,577,971
TPG Healthcare Partners, L.P.	Primary		12/2019-09/2023	North America		759,386		992,338
TPG Partners VIII, L.P.	Primary		12/2019-11/2023	North America		3,255,432		5,327,056
Vertex Aggregator LP	Co-Investment		08/2018-09/2020	North America		1,238,944		1,343,871
						64,684,684		107,418,480
Small and Mid-cap Buyout (55.27%)
Ada Holdco LP	Co-Investment		10/2019-11/2019	North America		2,287,329		3,628,071
Advent Global Technology Limited Partnership	Primary		03/2020-05/2022	North America		11,520,000		14,513,887
AEA Investors Fund VII, L.P.	Primary		10/2019-12/2023	North America		10,191,241		10,766,473
Aquiline Financial Services Fund IV L.P.	Primary		12/2019-05/2023	North America		10,907,722		14,266,564
Aquiline Relation Co-Invest L.P.	Co-Investment		07/2019-12/2023	North America		1,909,651		4,441,426
ARL Holdings, LLC (F)	Co-Investment		04/2019-11/2019	North America		1,572,236		5,660,050
Arsenal Capital Partners Fund V LP	Primary		07/2019-03/2023	North America		9,478,009		12,212,165
Arsenal IO Co-Invest 1 LP	Co-Investment		07/2019-04/2021	North America		2,559,529		1,722,792
Athyrium ICH Holdings LP	Co-Investment		10/2019	North America		546,715		80,000
BRI Investments LLC (F)	Co-Investment		08/2019	North America		-		72,000
BU Adhesives Co-Investment III SCSP	Co-Investment		01/2019	Europe		-		28,265
Buzzard Midstream Infrastructure Co-Invest Pooling, L.P	Co-Investment		03/2019-11/2020	North America		4,060,403		4,758,811
Carlyle Prime Coinvestment, L.P.	Co-Investment		10/2019-04/2021	North America		1,301,944		1,447,359
CB Nike TopCo, LP (F)	Co-Investment		10/2019	Middle East		579,710		8,601,138
Charlesbank Technology Opportunities Fund, Limited Partnership	Primary		05/2020-08/2023	North America		9,310,520		21,206,641
Elm Bidco, L.P.	Co-Investment		02/2019-09/2020	North America		2,472,819		1,372
Holley Parent Holdings, LLC (F)	Co-Investment		10/2018	North America		-		1,641,661
Marmor Co-Investment, L.P.	Secondary		09/2019-01/2021	Europe		5,950,889		14,251,009
NB Mafalda S.a.r.l (F)	Co-Investment		07/2019-12/2023	Europe		4,742,105		6,679,408
Oak Hill Capital Partners V, L.P.	Primary		12/2020-09/2022	North America		7,920,352		11,815,985
Oakley Capital IV-B SCSP	Primary		05/2019-12/2023	Europe		6,126,337		10,101,951
Plaskolite PPC Investor LLC	Co-Investment		12/2018-10/2023	North America		1,528,611		1,215,093
Quadria Capital Fund II, L.P.	Primary		06/2019-04/2023	Asia		10,181,982		13,012,813
RCP Artemis Co-Invest, L.P.	Co-Investment		07/2019	North America		3,105,587		11,718,126
Rey de la Carne, L.P.	Co-Investment		11/2019-10/2020	North America		4,841,527		4,769,977
Rockbridge Portfolio Fund I L.P.	Secondary		12/2018-06/2021	North America		1,634,080		5,025,019
Summit Partners Growth Equity Fund X-A, L.P.	Primary		03/2020-10/2023	North America		8,820,334		13,620,274
The Veritas Capital Fund VII, L.P.	Primary		09/2020-03/2023	North America		11,397,118		15,832,768
THL Equity Fund VIII Investors (Agiliti), L.P.	Co-Investment		01/2019	North America		3,349,044		4,454,626
THL Equity Fund VIII Investors (Automate), L.P.	Co-Investment		07/2019-11/2021	Europe		1,585,728		8,231,635
VB Target L.P. (F)	Co-Investment		01/2020	Asia		1,162,922		1,190,759
Wind Point Partners CV1, L.P.	Secondary		09/2018-12/2019	North America		17,914		13,825
						141,062,358		226,981,943

NB Crossroads Private Markets Fund V Holdings LP

Schedule of Investments

December 31, 2023 (Unaudited)

Investments / Co-investments (A),(B),(D)	Acquisition Type	Acquisition Dates (C)		Geographic Region (E)	Cost		Fair Value
Special Situations (5.65%)
American Industrial Partners Capital Fund VII, L.P.	Primary		10/2019-12/2023	North America		8,500,512		14,787,556
Centerbridge Special Credit Partners, L.P.	Secondary		02/2019-06/2021	North America		335,781		200,000
Cerberus AIR Partners, L.P.	Co-Investment		02/2019	Europe		-		6,737
Dragon Co-Investment Partners, L.P.	Co-Investment		09/2019-03/2021	North America		51,603		389,126
East Private Investments, LLC (F)	Co-Investment		07/2019	North America		2,772,445		3,485,959
Verscend Intermediate Holding Corp. (F)	Co-Investment		08/2018	North America		4,270,986		4,343,175
						15,931,327		23,212,553
Venture Capital (12.94%)
3L Capital Fund I, LP	Primary		04/2019-09/2021	North America		4,505,333		10,460,299
GGV Capital VII L.P.	Primary		01/2019-07/2022	North America		3,522,746		4,447,379
GGV Capital VII Plus L.P.	Primary		05/2019-09/2021	North America		955,500		1,137,063
GGV Discovery Fund II, L.P.	Primary		01/2019-07/2023	North America		2,509,000		4,391,323
Level Equity Growth Partners IV, L.P.	Primary		11/2018-08/2023	North America		5,060,262		11,491,993
Lightspeed China Partners IV, L.P.	Primary		10/2019-05/2022	Asia		2,075,000		2,957,912
Lightspeed China Partners Select I, L.P.	Primary		04/2019-01/2023	Asia		1,896,922		2,688,263
TA XIII-A, L.P.	Primary		12/2019-05/2022	North America		9,311,406		15,581,925
						29,836,169		53,156,157

Short Term Investments	Cost		Fair Value
Money Market Fund (1.42%)
Morgan Stanley Institutional Liquidity Fund Government Portfolio		5,846,760		5,846,760
		5,846,760		5,846,760
Total Investments (cost $257,361,298) (101.44%)				416,615,893
Other Assets & Liabilities (Net) (-1.44%)				(5,952,714	)
Partners' Capital - Net Assets (100.00%)			$	410,663,179

(A)	Non-income producing securities, which are restricted as to public resale and illiquid.
(B)	Total cost of illiquid and restricted securities at December 31, 2023 aggregated $251,514,538. Total fair value of illiquid and restricted securities at December 31, 2023 was $410,769,133 or 100.02% of net assets.
(C)	Acquisition Dates cover from original investment date to the last acquisition date and is required disclosure for restricted securities only.
(D)	All percentages are calculated as fair value divided by the Master Fund's Partners' Capital - Net Assets.
(E)	Geographic Region is based on where a Portfolio Fund is headquartered and may be different from where the Portfolio Fund invests.
(F)	The fair value of the investment was determined using a significant unobservable input.

Valuation of Investments

NB Crossroads Private Markets Fund V Holdings LP the (“Master Fund”) computes its net asset value (“NAV”) as of the last business day of each fiscal quarter and at such other times as deemed appropriate by Neuberger Berman Investment Advisers LLC (“NBIA” or the “Registered Investment Adviser”) and NB Alternatives Advisers LLC (“NBAA” or the “Sub-Adviser” and together with NBIA, the “Adviser”) in accordance with valuation principles set forth below, or may be determined from time to time, pursuant to the valuation procedures (the “Procedures”) established by the Board of Directors of the registrant (the “Board”).

The Board has approved the Procedures pursuant to which the Master Fund values its interests in the Portfolio Funds and other investments. In December 2020, the Securities and Exchange Commission ("SEC") adopted Rule 2a-5 under the Investment Company Act, which establishes requirements for determining fair value in good faith for purposes of the Investment Company Act, including related oversight and reporting requirements. Effective as of the compliance date of September 8, 2022, the Board approved changes to the Procedures to comply with Rule 2a-5 and designated NBIA as the Master Fund’s valuation designee (as defined in the rule). The valuation designee, with assistance from NBAA, is responsible for determining fair value in good faith for any and all Fund investments, subject to oversight by the Board.

It is expected that most of the Portfolio Funds in which the Master Fund invests will meet the criteria set forth under the Financial Accounting Standards Board (“FASB”) ASC Topic 820, Fair Value Measurement (“ASC 820”) permitting the use of the practical expedient to determine the fair value of the Portfolio Fund investments. ASC 820 provides that, in valuing alternative investments that do not have quoted market prices but calculate NAV per share or equivalent, an investor may determine fair value by using the NAV reported to the investor by the underlying investment. To the extent ASC 820 is applicable to a Portfolio Fund, the Adviser generally will value the Master Fund’s investment in the Portfolio Fund based primarily upon the value reported to the Master Fund by the Portfolio Fund or the lead investor of a direct co-investment as of each quarter-end, determined by the Portfolio Fund in accordance with its own valuation policies.

ASC 820-10 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). ASC 820 provides three levels of the fair value hierarchy as follows:

Level 1	Unadjusted quoted prices in active markets for identical assets or liabilities that the Master Fund has the ability to access;
Level 2	Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data;

Level 3 Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Master Fund’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

Most Portfolio Funds are structured as closed-end, commitment-based private investment funds to which the Master Fund commits a specified amount of capital upon inception of the Portfolio Fund (i.e., committed capital) which is then drawn down over a specified period of the Portfolio Fund's life. Such Portfolio Funds generally do not provide redemption options for investors and, subsequent to final closing, do not permit subscriptions by new or existing investors. Accordingly, the Master Fund generally holds interests in Portfolio Funds for which there is no active market, although, in some situations, a transaction may occur in the “secondary market” where an investor purchases a limited partner’s existing interest and remaining commitment.

Assumptions used by the Adviser due to the lack of observable inputs may significantly impact the resulting fair value and therefore the Master Fund's results of operations and financial condition.

The following table presents the investments carried on the Statement of Assets, Liabilities and Partners’ Capital – Net Assets by level within valuation hierarchy as of December 31, 2023:

	Level 1		Level 2		Level 3		Net Asset Value		Total
Assets:
Large-cap Buyout	$	-	$	-	$	8,798,365	$	98,620,115	$	107,418,480
Small and Mid-cap Buyout		-		-		23,845,016		203,136,927		226,981,943
Special Situations		-		-		7,829,134		15,383,419		23,212,553
Venture		-		-		-		53,156,157		53,156,157
Money Market Fund		5,846,760		-		-		-		5,846,760
Total	$	5,846,760	$	-	$	40,472,515	$	370,296,618	$	416,615,893

Significant Unobservable Inputs

As of December 31, 2023, the Master Fund had investments valued at $416,615,893. The fair value of investments valued at $370,296,618 in the Master Fund's Schedule of Investments have been valued at the unadjusted NAV reported by the managers of the investments.

The classification of an investment within Level 3 is based upon the significance of the unobservable inputs to the overall fair value measurement. The following table summarizes the valuation methodologies and inputs used for investments categorized in Level 3 as of December 31, 2023:

				Unobservable Inputs
Investments	Fair Value 12/31/2023		Valuation Methodologies	Variable	Value/Range		Weighted Average1
Large-cap Buyout	$	8,798,365	Market Comparables	LTM EBITDA		17.0x		N/A
Small and Mid-cap Buyout		22,203,355	Market Comparables	LTM EBITDA		9.5x - 16.6x		12.9x
Small and Mid-cap Buyout		1,641,661	Recent transactional value	N/A		N/A		N/A
Special Situations		4,343,175	Market Comparables	LTM EBITDA		14.7x		N/A
Special Situations		3,485,959	Market Comparables	LTM Net Revenue		2.7x		N/A
Total	$	40,472,515

¹ Inputs weighted based on fair value of investments in range.

During the period ended December 31, 2023, purchases and sales from Level 3 investments were as follows:

Purchases		Sales
$	219,172	$	4,697,671

During the period ended December 31, 2023, unrealized appreciation (depreciation) and realized gains from Level 3 investments were ($812,525) and $1,897,671, respectively.

The Master Fund recognizes transfers into and out of the levels indicated above at the end of the reporting period. There were no transfers into or out of Level 3 during the period ended December 31, 2023.

The estimated remaining life of the Master Fund’s Portfolio Funds as of December 31, 2023 is one to eight years, with the possibility of extensions by each of the Portfolio Funds.