Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited) 
July 31, 2023

 
Number of Shares
Value
Common Stocks 80.2%
Broadline Retail 2.6%
91,400
Alibaba Group Holding Ltd. ADR
$9,337,424
*
47,534
Etsy, Inc.
4,831,831
*
223,837
JD.com, Inc. ADR
9,246,706
3,610
MercadoLibre, Inc.
4,469,361
*
 
27,885,322
Chemicals 1.0%
27,585
Linde PLC
10,776,632
Communications Equipment 0.3%
883,906
Nokia Oyj ADR
3,482,589
Computers 1.6%
1,727,273
Arctic Wolf Networks, Inc.
17,100,003
*#(a)(b)
Electronic Equipment, Instruments & Components 6.4%
377,701
Amphenol Corp. Class A
33,354,775
(c)
81,686
Keysight Technologies, Inc.
13,157,981
*(c)
312,888
Trimble, Inc.
16,833,374
*
15,150
Zebra Technologies Corp. Class A
4,665,594
*
 
68,011,724
Entertainment 4.7%
146,076
Activision Blizzard, Inc.
13,550,010
89,725
Sea Ltd. ADR
5,968,507
*
113,022
Take-Two Interactive Software, Inc.
17,285,585
*
127,169
Universal Music Group NV
3,262,056
81,705
Walt Disney Co.
7,262,757
*
90,739
Warner Music Group Corp. Class A
2,862,815
 
50,191,730
Health Care Equipment & Supplies 1.3%
59,285
Dexcom, Inc.
7,384,540
*
8,325
Intuitive Surgical, Inc.
2,700,630
*
63,827
Omnicell, Inc.
4,030,675
*
 
14,115,845
Hotels, Restaurants & Leisure 3.2%
1,493,238
Entain PLC
26,560,558
64,536
Expedia Group, Inc.
7,907,596
*
 
34,468,154
Interactive Media & Services 0.6%
258,928
ZoomInfo Technologies, Inc. Class A
6,620,789
*
IT Services 5.9%
17,906
Accenture PLC Class A
5,664,563
34,219
EPAM Systems, Inc.
8,103,402
*
99,147
Globant SA
17,323,955
*(c)
14,599
MongoDB, Inc. Class A
6,181,217
*
80,434
Snowflake, Inc. Class A
14,293,926
*
1,597,448
Thoughtworks Holding, Inc.
11,325,906
*
 
62,892,969
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Number of Shares
Value
Machinery 1.5%
10,900
Deere & Co.
$4,682,640
583,302
Epiroc AB Class A
11,642,323
 
16,324,963
Professional Services 0.7%
31,450
Verisk Analytics, Inc. Class A
7,200,163
Semiconductors & Semiconductor Equipment 25.6%
143,307
Advanced Micro Devices, Inc.
16,394,321
*(c)
81,400
Ambarella, Inc.
6,790,388
*
110,592
Analog Devices, Inc.
22,066,422
(c)
175,196
Applied Materials, Inc.
26,557,961
27,038
ASML Holding NV
19,370,293
131,740
BE Semiconductor Industries NV
15,737,755
51,180
Entegris, Inc.
5,614,958
17,546
Lam Research Corp.
12,606,625
303,169
Lattice Semiconductor Corp.
27,570,189
*
130,339
Marvell Technology, Inc.
8,488,979
47,300
Monolithic Power Systems, Inc.
26,463,877
(c)
71,654
NVIDIA Corp.
33,483,198
42,250
Qorvo, Inc.
4,648,345
*
415,952
Rambus, Inc.
26,042,755
*
94,545
Taiwan Semiconductor Manufacturing Co. Ltd. ADR
9,374,137
61,974
Texas Instruments, Inc.
11,155,320
 
272,365,523
Software 23.4%
7,899
Adobe, Inc.
4,314,197
*
36,418
ANSYS, Inc.
12,458,598
*
39,174
Atlassian Corp. Class A
7,127,318
*
18,800
Autodesk, Inc.
3,985,412
*
39,599
Bills Holdings, Inc.
4,963,339
*
107,099
Cadence Design Systems, Inc.
25,062,237
*(c)
20,990
Crowdstrike Holdings, Inc. Class A
3,393,243
*
218,552
Datadog, Inc. Class A
25,509,389
*
455,664
Dynatrace, Inc.
24,920,264
*
84,500
Gitlab, Inc. Class A
4,193,735
*
1,456,020
Grammarly, Inc. Class A
26,208,360
*#(a)(b)
16,001
HubSpot, Inc.
9,289,380
*
42,027
Intuit, Inc.
21,505,216
118,031
Palo Alto Networks, Inc.
29,503,029
*
42,814
Salesforce, Inc.
9,633,578
*
43,742
ServiceNow, Inc.
25,501,586
*
13,000
Workday, Inc. Class A
3,082,690
*
50,549
Zscaler, Inc.
8,107,049
*
 
248,758,620
Wireless Telecommunication Services 1.4%
110,966
T-Mobile U.S., Inc.
15,287,786
*
Total Common Stocks (Cost $857,227,156)
855,482,812
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Number of Shares
Value
Preferred Stocks 9.7%
Entertainment 2.4%
219,568
A24 Films LLC(d)
$25,000,008
*#(a)(b)
Internet 3.2%
29,000
Fabletics LLC, Series G
29,000,000
*#(a)(b)
103,937
Savage X, Inc., Series C
4,999,993
*#(a)(b)
 
33,999,993
IT Services 0.0%(e)
1,009,513
Cybereason, Inc., Series F
464,376
*#(a)(b)
Software 4.1%
27,042
Celonis SE, Series D
9,999,861
*#(a)(b)
451,510
Grammarly, Inc., Series 3
11,834,935
*#(a)(b)
1,393,993
Videoamp, Inc., Series F1
21,999,998
*#(a)(b)
 
43,834,794
Total Preferred Stocks (Cost $107,834,415)
103,299,171
Principal Amount
Convertible Bonds 0.9%
Computers 0.5%
$5,000
Arctic Wolf Networks, Inc., 0.00%, due 9/29/2027
5,000,000
#(a)(b)
Semiconductors & Semiconductor Equipment 0.4%
5,164,000
Wolfspeed, Inc., 1.88%, due 12/1/2029
4,446,204
(f)
Total Convertible Bonds (Cost $9,497,954)
9,446,204
Number of Shares
 
Short-Term Investments 11.4%
Investment Companies 11.4%
121,428,655
State Street Institutional U.S. Government Money Market Fund Premier Class, 5.19%(g)
(Cost $121,428,655)
121,428,655
Total Investments 102.2% (Cost $1,095,988,180)
1,089,656,842
Liabilities Less Other Assets (2.2)%
(23,764,377
)(h)
Net Assets Applicable to Common Stockholders 100.0%
$1,065,892,465
 
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
*
Non-income producing security.
(a)
Value determined using significant unobservable inputs.
(b)
Security fair valued as of July 31, 2023 in accordance with procedures approved by the valuation designee.
Total value of all such securities at July 31, 2023 amounted to $151,607,534, which represents 14.2% of
net assets applicable to common stockholders of the Fund.
(c)
All or a portion of this security is pledged as collateral for options written.
(d)
Security represented in Units.
(e)
Represents less than 0.05% of net assets applicable to common stockholders of the Fund.
(f)
Securities were purchased under Rule 144A of the Securities Act of 1933, as amended, or are otherwise
restricted and, unless registered under the Securities Act of 1933 or exempted from registration, may only
be sold to qualified institutional investors or may have other restrictions on resale. At July 31, 2023, these
securities amounted to $4,446,204, which represents 0.4% of net assets applicable to common
stockholders of the Fund.
(g)
Represents 7-day effective yield as of July 31, 2023.
(h)
Includes the impact of the Fund’s open positions in derivatives at July 31, 2023.
#  This security has been deemed by Management to be illiquid, and is subject to restrictions on resale. Total value of all such securities at July 31, 2023 amounted to $151,607,534, which represents 14.2% of net assets applicable to common stockholders of the Fund. Acquisition dates shown with a range, if any, represent securities that were acquired over the period shown in the table.
Restricted Security
Acquisition
Date(s)
Acquisition
Cost
Value as of
7/31/2023
Fair Value
Percentage
of Net Assets
Applicable
to Common
Stockholders
as of
7/31/2023
A24 Films LLC (Preferred Units)
2/25/2022
$25,000,012
$25,000,008
2.4%
Arctic Wolf Networks, Inc.
12/31/2021
19,000,003
17,100,003
1.6%
Arctic Wolf Networks, Inc. (Convertible Bonds)
9/30/2022
5,000,000
5,000,000
0.5%
Celonis SE (Ser. D Preferred Shares)
10/5/2022
9,999,477
9,999,861
0.9%
Cybereason, Inc. (Ser. F Preferred Shares)
7/13/2021
5,000,000
464,376
0.0%
Fabletics LLC (Series G Preferred Shares)
1/10/2022
29,000,000
29,000,000
2.7%
Grammarly, Inc. (Series 3 Preferred Shares)
12/23/2021
11,834,935
11,834,935
1.1%
Grammarly, Inc. Class A
12/23/2021
38,165,051
26,208,360
2.4%
Savage X, Inc. (Series C Preferred Shares)
11/30/2021
4,999,993
4,999,993
0.5%
Videoamp, Inc. (Series F1 Preferred Shares)
1/4/2022
21,999,998
21,999,998
2.1%
Total
$169,999,469
$151,607,534
14.2%
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
 
POSITIONS BY COUNTRY
Country
Investments at
Value
Percentage of Net
Assets Applicable
to Common
Stockholders
United States
$849,776,478
79.7%
Netherlands
38,370,104
3.6%
United Kingdom
26,560,558
2.5%
China
18,584,130
1.7%
Sweden
11,642,323
1.1%
Taiwan
9,374,137
0.9%
Singapore
5,968,507
0.6%
Brazil
4,469,361
0.4%
Finland
3,482,589
0.3%
Short-Term Investments and Other Liabilities—Net
97,664,278
9.2%
 
$1,065,892,465
100.0%
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Derivative Instruments
Written option contracts ("options written")
At July 31, 2023, the Fund had outstanding options written as follows: 
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Calls
Broadline Retail
Alibaba Group Holding Ltd.
29
$(296,264)
$95
8/18/2023
$(26,245)
Alibaba Group Holding Ltd.
27
(275,832)
97
8/18/2023
(20,655)
Alibaba Group Holding Ltd.
26
(265,616)
105
8/18/2023
(9,360)
Alibaba Group Holding Ltd.
27
(275,832)
95
9/15/2023
(29,565)
Alibaba Group Holding Ltd.
28
(286,048)
100
9/15/2023
(22,330)
Alibaba Group Holding Ltd.
23
(234,968)
130
9/15/2023
(2,139)
Alibaba Group Holding Ltd.
31
(316,696)
95
10/20/2023
(39,757)
Alibaba Group Holding Ltd.
27
(275,832)
105
10/20/2023
(20,588)
Alibaba Group Holding Ltd.
28
(286,048)
100
11/17/2023
(32,410)
Alibaba Group Holding Ltd.
28
(286,048)
105
11/17/2023
(25,830)
Alibaba Group Holding Ltd.
30
(306,480)
100
12/15/2023
(38,625)
Alibaba Group Holding Ltd.
27
(275,832)
110
12/15/2023
(23,018)
Etsy, Inc.
27
(274,455)
97
8/18/2023
(23,963)
Etsy, Inc.
28
(284,620)
105
9/15/2023
(18,690)
Etsy, Inc.
24
(243,960)
110
9/15/2023
(11,700)
Etsy, Inc.
23
(233,795)
115
9/15/2023
(8,050)
Etsy, Inc.
22
(223,630)
130
9/15/2023
(2,794)
Etsy, Inc.
21
(213,465)
140
9/15/2023
(1,418)
Etsy, Inc.
18
(182,970)
175
9/15/2023
(288)
Etsy, Inc.
31
(315,115)
90
12/15/2023
(62,000)
Etsy, Inc.
29
(294,785)
100
12/15/2023
(41,977)
Etsy, Inc.
26
(264,290)
115
12/15/2023
(21,840)
JD.com, Inc.
68
(280,908)
39
8/18/2023
(23,120)
JD.com, Inc.
69
(285,039)
37.5
9/15/2023
(36,397)
JD.com, Inc.
210
(867,510)
40
9/15/2023
(78,750)
JD.com, Inc.
61
(251,991)
47.5
9/15/2023
(7,168)
JD.com, Inc.
73
(301,563)
40
10/20/2023
(33,945)
JD.com, Inc.
70
(289,170)
42.5
10/20/2023
(24,500)
JD.com, Inc.
70
(289,170)
42.5
12/15/2023
(33,250)
JD.com, Inc.
65
(268,515)
45
12/15/2023
(24,700)
MercadoLibre, Inc.
2
(247,610)
1,180
8/18/2023
(21,510)
MercadoLibre, Inc.
2
(247,610)
1,430
8/18/2023
(3,390)
MercadoLibre, Inc.
2
(247,610)
1,450
8/18/2023
(2,910)
MercadoLibre, Inc.
2
(247,610)
1,420
9/15/2023
(6,730)
MercadoLibre, Inc.
2
(247,610)
1,440
9/15/2023
(5,730)
MercadoLibre, Inc.
2
(247,610)
1,480
9/15/2023
(4,360)
MercadoLibre, Inc.
2
(247,610)
1,540
9/15/2023
(2,840)
MercadoLibre, Inc.
2
(247,610)
1,200
11/17/2023
(32,490)
MercadoLibre, Inc.
2
(247,610)
1,260
11/17/2023
(26,490)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Broadline Retail (cont’d)
MercadoLibre, Inc.
2
$(247,610)
$1,580
12/15/2023
$(8,590)
 
 
 
 
 
(860,112)
Chemicals
Linde PLC
7
(273,469)
385
8/18/2023
(7,105)
Linde PLC
7
(273,469)
385
9/15/2023
(10,080)
Linde PLC
5
(195,335)
375
10/20/2023
(13,275)
Linde PLC
7
(273,469)
400
10/20/2023
(7,490)
Linde PLC
7
(273,469)
405
10/20/2023
(5,985)
Linde PLC
7
(273,469)
410
10/20/2023
(4,585)
Linde PLC
7
(273,469)
415
1/19/2024
(8,120)
Linde PLC
7
(273,469)
440
1/19/2024
(4,375)
 
 
 
 
 
(61,015)
Communications Equipment
Nokia Oyj
666
(262,404)
4
8/18/2023
(4,329)
Nokia Oyj
1,237
(487,378)
4.5
12/15/2023
(12,989)
Nokia Oyj
535
(210,790)
5
12/15/2023
(2,408)
 
 
 
 
 
(19,726)
Electronic Equipment, Instruments & Components
Amphenol Corp.
100
(883,100)
80
8/18/2023
(83,000)
Amphenol Corp.
30
(264,930)
90
8/18/2023
(1,725)
Amphenol Corp.
30
(264,930)
90
9/15/2023
(4,575)
Amphenol Corp.
158
(1,395,298)
85
10/20/2023
(100,330)
Amphenol Corp.
157
(1,386,467)
90
10/20/2023
(38,072)
Amphenol Corp.
68
(600,508)
85
1/19/2024
(53,040)
Amphenol Corp.
166
(1,465,946)
90
1/19/2024
(78,020)
Keysight Technologies, Inc.
33
(531,564)
160
8/18/2023
(19,635)
Keysight Technologies, Inc.
16
(257,728)
165
8/18/2023
(5,400)
Keysight Technologies, Inc.
16
(257,728)
170
8/18/2023
(2,640)
Keysight Technologies, Inc.
16
(257,728)
175
8/18/2023
(1,360)
Keysight Technologies, Inc.
16
(257,728)
185
8/18/2023
(680)(a)(b)
Keysight Technologies, Inc.
14
(225,512)
220
8/18/2023
—(a)(b)
Keysight Technologies, Inc.
16
(257,728)
170
9/15/2023
(4,560)
Keysight Technologies, Inc.
63
(1,014,804)
180
11/17/2023
(16,853)
Keysight Technologies, Inc.
48
(773,184)
185
11/17/2023
(8,280)
Keysight Technologies, Inc.
46
(740,968)
185
12/15/2023
(12,075)
Keysight Technologies, Inc.
63
(1,014,804)
190
12/15/2023
(11,183)
Keysight Technologies, Inc.
32
(515,456)
195
12/15/2023
(3,600)
Trimble, Inc.
100
(538,000)
50
8/18/2023
(44,000)
Trimble, Inc.
297
(1,597,860)
55
8/18/2023
(32,670)
Trimble, Inc.
46
(247,480)
60
8/18/2023
(575)
Trimble, Inc.
31
(166,780)
75
8/18/2023
—(a)(b)
Trimble, Inc.
49
(263,620)
55
9/15/2023
(15,925)
Trimble, Inc.
255
(1,371,900)
55
11/17/2023
(84,150)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Electronic Equipment, Instruments & Components (cont’d)
Trimble, Inc.
301
$(1,619,380)
$60
11/17/2023
$(42,892)
Zebra Technologies Corp.
9
(277,164)
300
8/18/2023
(17,505)
Zebra Technologies Corp.
9
(277,164)
310
8/18/2023
(12,825)
Zebra Technologies Corp.
8
(246,368)
330
8/18/2023
(5,600)
Zebra Technologies Corp.
8
(246,368)
340
8/18/2023
(3,880)
Zebra Technologies Corp.
8
(246,368)
410
8/18/2023
—(a)(b)
Zebra Technologies Corp.
9
(277,164)
320
11/17/2023
(19,260)
Zebra Technologies Corp.
9
(277,164)
330
11/17/2023
(15,660)
Zebra Technologies Corp.
8
(246,368)
350
11/17/2023
(8,800)
Zebra Technologies Corp.
9
(277,164)
330
12/15/2023
(17,730)
Zebra Technologies Corp.
8
(246,368)
360
12/15/2023
(8,440)
 
 
 
 
 
(774,940)
Entertainment
Activision Blizzard, Inc.
201
(1,864,476)
87.5
8/18/2023
(109,545)
Activision Blizzard, Inc.
270
(2,504,520)
90
8/18/2023
(86,805)
Activision Blizzard, Inc.
29
(269,004)
92.5
8/18/2023
(3,219)
Activision Blizzard, Inc.
229
(2,124,204)
92.5
9/15/2023
(45,685)
Activision Blizzard, Inc.
150
(1,391,400)
87.5
11/17/2023
(84,000)
Activision Blizzard, Inc.
64
(593,664)
90
11/17/2023
(28,960)
Activision Blizzard, Inc.
190
(1,762,440)
92.5
11/17/2023
(45,885)
Activision Blizzard, Inc.
65
(602,940)
95
11/17/2023
(650)
Sea Ltd.
43
(286,036)
62
8/18/2023
(33,217)
Sea Ltd.
37
(246,124)
75
8/18/2023
(9,084)
Sea Ltd.
169
(1,124,188)
85
8/18/2023
(15,886)
Sea Ltd.
58
(385,816)
95
8/18/2023
(2,204)
Sea Ltd.
42
(279,384)
65
9/15/2023
(30,345)
Sea Ltd.
47
(312,644)
60
11/17/2023
(58,632)
Sea Ltd.
43
(286,036)
65
11/17/2023
(41,925)
Sea Ltd.
80
(532,160)
75
11/17/2023
(46,000)
Sea Ltd.
34
(226,168)
85
11/17/2023
(11,220)
Take-Two Interactive Software, Inc.
18
(275,292)
150
8/18/2023
(13,005)
Take-Two Interactive Software, Inc.
85
(1,299,990)
135
9/15/2023
(171,912)
Take-Two Interactive Software, Inc.
19
(290,586)
140
9/15/2023
(30,400)
Take-Two Interactive Software, Inc.
18
(275,292)
150
9/15/2023
(15,975)
Take-Two Interactive Software, Inc.
35
(535,290)
155
11/17/2023
(36,575)
Take-Two Interactive Software, Inc.
53
(810,582)
160
11/17/2023
(43,062)
Take-Two Interactive Software, Inc.
36
(550,584)
165
11/17/2023
(22,230)
Take-Two Interactive Software, Inc.
20
(305,880)
150
12/15/2023
(28,800)
Take-Two Interactive Software, Inc.
19
(290,586)
155
12/15/2023
(22,135)
Walt Disney Co.
31
(275,559)
86
8/18/2023
(15,035)
Walt Disney Co.
31
(275,559)
85
9/15/2023
(20,460)
Walt Disney Co.
51
(453,339)
110
9/15/2023
(1,734)
Walt Disney Co.
29
(257,781)
95
10/20/2023
(8,439)
Walt Disney Co.
29
(257,781)
100
10/20/2023
(4,901)
Walt Disney Co.
28
(248,892)
105
10/20/2023
(2,786)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Entertainment (cont’d)
Walt Disney Co.
24
$(213,336)
$120
10/20/2023
$(600)
Walt Disney Co.
28
(248,892)
105
1/19/2024
(7,644)
Walt Disney Co.
27
(240,003)
110
1/19/2024
(5,157)
Warner Music Group Corp.
79
(249,245)
36
10/20/2023
(5,333)
Warner Music Group Corp.
77
(242,935)
37
10/20/2023
(20,405)
Warner Music Group Corp.
186
(586,830)
31
11/17/2023
(62,775)
 
 
 
 
 
(1,192,625)
Health Care Equipment & Supplies
Dexcom, Inc.
20
(249,120)
130
8/18/2023
(3,750)
Dexcom, Inc.
21
(261,576)
125
9/15/2023
(12,810)
Dexcom, Inc.
66
(822,096)
130
9/15/2023
(25,080)
Dexcom, Inc.
63
(784,728)
135
9/15/2023
(14,018)
Dexcom, Inc.
81
(1,008,936)
145
12/15/2023
(34,830)
Intuitive Surgical, Inc.
10
(324,400)
285
10/20/2023
(46,950)
Intuitive Surgical, Inc.
8
(259,520)
380
10/20/2023
(2,380)
Intuitive Surgical, Inc.
8
(259,520)
370
1/19/2024
(7,360)
Omnicell, Inc.
42
(265,230)
60
8/18/2023
(22,470)
Omnicell, Inc.
43
(271,545)
65
8/18/2023
(12,578)
Omnicell, Inc.
83
(524,145)
70
8/18/2023
(9,545)
Omnicell, Inc.
37
(233,655)
75
8/18/2023
—(a)(b)
Omnicell, Inc.
72
(454,680)
80
11/17/2023
(14,940)
Omnicell, Inc.
34
(214,710)
85
11/17/2023
(8,755)
Omnicell, Inc.
44
(277,860)
65
12/15/2023
(26,400)
Omnicell, Inc.
34
(214,710)
85
12/15/2023
(4,590)
 
 
 
 
 
(246,456)
Hotels, Restaurants & Leisure
Expedia Group, Inc.
100
(1,225,300)
115
8/18/2023
(102,000)
Expedia Group, Inc.
22
(269,566)
119
8/18/2023
(16,830)
Expedia Group, Inc.
22
(269,566)
120
9/15/2023
(19,030)
Expedia Group, Inc.
53
(649,409)
110
10/20/2023
(90,630)
Expedia Group, Inc.
46
(563,638)
125
10/20/2023
(36,455)
Expedia Group, Inc.
23
(281,819)
130
10/20/2023
(13,455)
Expedia Group, Inc.
26
(318,578)
115
1/19/2024
(46,865)
Expedia Group, Inc.
23
(281,819)
125
1/19/2024
(28,807)
 
 
 
 
 
(354,072)
Interactive Media & Services
ZoomInfo Technologies, Inc.
104
(265,928)
25
8/18/2023
(21,060)
ZoomInfo Technologies, Inc.
103
(263,371)
25
9/15/2023
(24,977)
ZoomInfo Technologies, Inc.
311
(795,227)
27.5
10/20/2023
(56,757)
ZoomInfo Technologies, Inc.
191
(488,387)
30
10/20/2023
(21,010)
ZoomInfo Technologies, Inc.
108
(276,156)
27.5
1/19/2024
(32,400)
ZoomInfo Technologies, Inc.
97
(248,029)
30
1/19/2024
(20,855)
 
 
 
 
 
(177,059)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
IT Services
Accenture PLC
18
$(569,430)
$310
8/18/2023
$(18,180)
Accenture PLC
17
(537,795)
315
8/18/2023
(11,305)
Accenture PLC
9
(284,715)
320
8/18/2023
(3,690)
Accenture PLC
9
(284,715)
350
8/18/2023
(158)
Accenture PLC
8
(253,080)
320
9/15/2023
(6,520)
Accenture PLC
8
(253,080)
335
11/17/2023
(7,040)
Accenture PLC
9
(284,715)
340
11/17/2023
(6,120)
Accenture PLC
17
(537,795)
345
11/17/2023
(9,350)
Accenture PLC
8
(253,080)
360
11/17/2023
(2,100)
EPAM Systems, Inc.
61
(1,444,541)
230
8/18/2023
(93,025)
EPAM Systems, Inc.
40
(947,240)
240
8/18/2023
(36,000)
EPAM Systems, Inc.
11
(260,491)
230
9/15/2023
(21,010)
EPAM Systems, Inc.
11
(260,491)
250
10/20/2023
(13,970)
EPAM Systems, Inc.
11
(260,491)
260
10/20/2023
(10,175)
EPAM Systems, Inc.
10
(236,810)
300
10/20/2023
(2,625)
EPAM Systems, Inc.
9
(213,129)
330
10/20/2023
(675)
EPAM Systems, Inc.
8
(189,448)
360
10/20/2023
—(a)(b)
EPAM Systems, Inc.
7
(165,767)
440
10/20/2023
—(a)(b)
EPAM Systems, Inc.
12
(284,172)
250
1/19/2024
(26,520)
EPAM Systems, Inc.
11
(260,491)
280
1/19/2024
(12,980)
Globant SA
67
(1,170,691)
155
8/18/2023
(138,355)
Globant SA
15
(262,095)
175
8/18/2023
(11,100)
Globant SA
46
(803,758)
180
8/18/2023
(24,150)
Globant SA
14
(244,622)
200
8/18/2023
(1,470)
Globant SA
15
(262,095)
210
8/18/2023
(1,088)
Globant SA
15
(262,095)
180
9/15/2023
(12,600)
Globant SA
33
(576,609)
170
11/17/2023
(63,855)
Globant SA
17
(297,041)
180
11/17/2023
(24,310)
Globant SA
44
(768,812)
195
11/17/2023
(36,300)
Globant SA
44
(768,812)
200
11/17/2023
(31,020)
Globant SA
56
(978,488)
210
11/17/2023
(28,280)
Globant SA
28
(489,244)
220
11/17/2023
(9,660)
MongoDB, Inc.
22
(931,480)
250
8/18/2023
(383,955)
MongoDB, Inc.
22
(931,480)
260
8/18/2023
(361,900)
MongoDB, Inc.
11
(465,740)
290
8/18/2023
(148,087)
MongoDB, Inc.
7
(296,380)
405
8/18/2023
(20,720)
MongoDB, Inc.
7
(296,380)
410
9/15/2023
(32,042)
MongoDB, Inc.
18
(762,120)
340
11/17/2023
(189,135)
MongoDB, Inc.
7
(296,380)
410
11/17/2023
(42,700)
MongoDB, Inc.
7
(296,380)
430
11/17/2023
(35,875)
MongoDB, Inc.
7
(296,380)
440
11/17/2023
(32,830)
Snowflake, Inc.
17
(302,107)
155
8/18/2023
(41,140)
Snowflake, Inc.
18
(319,878)
160
8/18/2023
(35,775)
Snowflake, Inc.
33
(586,443)
165
8/18/2023
(52,305)
Snowflake, Inc.
30
(533,130)
170
8/18/2023
(37,125)
Snowflake, Inc.
15
(266,565)
172.5
8/18/2023
(16,088)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
IT Services (cont’d)
Snowflake, Inc.
15
$(266,565)
$210
8/18/2023
$(1,208)
Snowflake, Inc.
16
(284,336)
170
9/15/2023
(29,920)
Snowflake, Inc.
30
(533,130)
185
10/20/2023
(45,600)
Snowflake, Inc.
33
(586,443)
180
11/17/2023
(66,742)
Snowflake, Inc.
15
(266,565)
190
11/17/2023
(23,963)
Snowflake, Inc.
15
(266,565)
195
11/17/2023
(21,225)
Snowflake, Inc.
69
(1,226,199)
210
11/17/2023
(67,275)
Thoughtworks Holding, Inc.
942
(667,878)
10
10/20/2023
—(a)(b)
 
 
 
 
 
(2,349,241)
Machinery
Deere & Co.
6
(257,760)
435
8/18/2023
(5,895)
Deere & Co.
6
(257,760)
420
9/15/2023
(13,890)
Deere & Co.
6
(257,760)
450
9/15/2023
(4,935)
Deere & Co.
6
(257,760)
460
9/15/2023
(3,255)
Deere & Co.
6
(257,760)
480
9/15/2023
(1,314)
Deere & Co.
6
(257,760)
490
9/15/2023
(843)
Deere & Co.
7
(300,720)
430
10/20/2023
(15,365)
Deere & Co.
12
(515,520)
450
11/17/2023
(19,260)
Deere & Co.
7
(300,720)
440
12/15/2023
(17,745)
Deere & Co.
7
(300,720)
450
12/15/2023
(14,543)
 
 
 
 
 
(97,045)
Professional Services
Verisk Analytics, Inc.
11
(251,834)
240
8/18/2023
(2,173)
Verisk Analytics, Inc.
27
(618,138)
210
9/15/2023
(60,075)
Verisk Analytics, Inc.
14
(320,516)
220
9/15/2023
(18,690)
Verisk Analytics, Inc.
11
(251,834)
230
9/15/2023
(7,480)
Verisk Analytics, Inc.
23
(526,562)
250
11/17/2023
(9,660)
Verisk Analytics, Inc.
12
(274,728)
250
12/15/2023
(6,060)
Verisk Analytics, Inc.
11
(251,834)
260
12/15/2023
(3,108)
 
 
 
 
 
(107,246)
Semiconductors & Semiconductor Equipment
Advanced Micro Devices, Inc.
28
(320,320)
95
8/18/2023
(56,490)
Advanced Micro Devices, Inc.
24
(274,560)
112
8/18/2023
(17,520)
Advanced Micro Devices, Inc.
52
(594,880)
100
9/15/2023
(91,000)
Advanced Micro Devices, Inc.
30
(343,200)
105
9/15/2023
(41,775)
Advanced Micro Devices, Inc.
24
(274,560)
115
9/15/2023
(19,860)
Advanced Micro Devices, Inc.
24
(274,560)
120
9/15/2023
(15,000)
Advanced Micro Devices, Inc.
30
(343,200)
95
10/20/2023
(69,225)
Advanced Micro Devices, Inc.
47
(537,680)
120
10/20/2023
(39,715)
Advanced Micro Devices, Inc.
47
(537,680)
125
10/20/2023
(31,725)
Advanced Micro Devices, Inc.
21
(240,240)
140
10/20/2023
(7,088)
Advanced Micro Devices, Inc.
23
(263,120)
120
11/17/2023
(23,978)
Advanced Micro Devices, Inc.
47
(537,680)
125
11/17/2023
(40,537)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Semiconductors & Semiconductor Equipment (cont’d)
Advanced Micro Devices, Inc.
42
$(480,480)
$140
11/17/2023
$(20,370)
Advanced Micro Devices, Inc.
41
(469,040)
145
11/17/2023
(16,400)
Advanced Micro Devices, Inc.
61
(697,840)
150
11/17/2023
(20,435)
Ambarella, Inc.
38
(316,996)
72.5
8/18/2023
(47,880)
Ambarella, Inc.
36
(300,312)
77.5
8/18/2023
(25,200)
Ambarella, Inc.
33
(275,286)
81
8/18/2023
(14,685)
Ambarella, Inc.
33
(275,286)
82.5
9/15/2023
(24,255)
Ambarella, Inc.
71
(592,282)
85
11/17/2023
(60,350)
Ambarella, Inc.
32
(266,944)
90
11/17/2023
(20,640)
Ambarella, Inc.
31
(258,602)
92.5
11/17/2023
(17,205)
Ambarella, Inc.
30
(250,260)
100
11/17/2023
(10,350)
Analog Devices, Inc.
75
(1,496,475)
190
8/18/2023
(85,875)
Analog Devices, Inc.
14
(279,342)
192.5
8/18/2023
(13,300)
Analog Devices, Inc.
29
(578,637)
195
9/15/2023
(31,175)
Analog Devices, Inc.
26
(518,778)
200
9/15/2023
(20,410)
Analog Devices, Inc.
67
(1,336,851)
210
9/15/2023
(24,790)
Analog Devices, Inc.
52
(1,037,556)
220
9/15/2023
(7,410)
Analog Devices, Inc.
113
(2,254,689)
210
12/15/2023
(105,655)
Analog Devices, Inc.
14
(279,342)
220
12/15/2023
(8,120)
Analog Devices, Inc.
13
(259,389)
230
12/15/2023
(4,485)
Applied Materials, Inc.
19
(288,021)
139
8/18/2023
(26,552)
Applied Materials, Inc.
70
(1,061,130)
145
8/18/2023
(65,275)
Applied Materials, Inc.
41
(621,519)
130
9/15/2023
(95,632)
Applied Materials, Inc.
41
(621,519)
145
9/15/2023
(47,457)
Applied Materials, Inc.
18
(272,862)
150
9/15/2023
(15,300)
Applied Materials, Inc.
21
(318,339)
140
10/20/2023
(36,750)
Applied Materials, Inc.
38
(576,042)
145
10/20/2023
(53,580)
Applied Materials, Inc.
58
(879,222)
150
10/20/2023
(64,670)
Applied Materials, Inc.
113
(1,712,967)
155
11/17/2023
(121,192)
Applied Materials, Inc.
19
(288,021)
160
11/17/2023
(16,293)
Applied Materials, Inc.
19
(288,021)
150
1/19/2024
(31,825)
Applied Materials, Inc.
38
(576,042)
160
1/19/2024
(45,505)
ASML Holding NV
4
(286,564)
685
8/18/2023
(15,320)
ASML Holding NV
11
(788,051)
720
9/15/2023
(31,515)
ASML Holding NV
4
(286,564)
740
9/15/2023
(7,920)
ASML Holding NV
4
(286,564)
780
9/15/2023
(3,380)
ASML Holding NV
4
(286,564)
820
9/15/2023
(1,400)
ASML Holding NV
4
(286,564)
720
10/20/2023
(17,100)
ASML Holding NV
8
(573,128)
730
10/20/2023
(30,240)
ASML Holding NV
7
(501,487)
790
10/20/2023
(11,655)
ASML Holding NV
4
(286,564)
840
10/20/2023
(3,120)
ASML Holding NV
4
(286,564)
780
11/17/2023
(10,200)
ASML Holding NV
4
(286,564)
800
11/17/2023
(7,960)
ASML Holding NV
7
(501,487)
820
12/15/2023
(14,035)
ASML Holding NV
4
(286,564)
840
12/15/2023
(6,420)
ASML Holding NV
4
(286,564)
800
1/19/2024
(12,740)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Semiconductors & Semiconductor Equipment (cont’d)
ASML Holding NV
7
$(501,487)
$870
1/19/2024
$(11,025)
Entegris, Inc.
34
(373,014)
80
8/18/2023
(100,980)
Entegris, Inc.
31
(340,101)
85
8/18/2023
(78,120)
Entegris, Inc.
30
(329,130)
95
8/18/2023
(48,000)
Entegris, Inc.
28
(307,188)
100
8/18/2023
(30,660)
Entegris, Inc.
54
(592,434)
105
8/18/2023
(42,390)
Entegris, Inc.
25
(274,275)
110
9/15/2023
(16,625)
Entegris, Inc.
76
(833,796)
115
11/17/2023
(61,940)
Entegris, Inc.
25
(274,275)
120
11/17/2023
(15,625)
Entegris, Inc.
23
(252,333)
130
11/17/2023
(8,165)
Lam Research Corp.
4
(287,396)
645
8/18/2023
(30,690)
Lam Research Corp.
5
(359,245)
545
9/15/2023
(88,712)
Lam Research Corp.
5
(359,245)
570
9/15/2023
(76,462)
Lam Research Corp.
5
(359,245)
600
9/15/2023
(62,412)
Lam Research Corp.
5
(359,245)
610
9/15/2023
(57,812)
Lam Research Corp.
8
(574,792)
700
9/15/2023
(35,580)
Lam Research Corp.
8
(574,792)
680
12/15/2023
(70,480)
Lam Research Corp.
4
(287,396)
700
12/15/2023
(30,530)
Lam Research Corp.
4
(287,396)
720
12/15/2023
(26,240)
Lattice Semiconductor Corp.
31
(281,914)
85
8/18/2023
(26,040)
Lattice Semiconductor Corp.
100
(909,400)
90
8/18/2023
(53,000)
Lattice Semiconductor Corp.
30
(272,820)
90
9/15/2023
(20,700)
Lattice Semiconductor Corp.
184
(1,673,296)
95
9/15/2023
(85,560)
Lattice Semiconductor Corp.
59
(536,546)
100
9/15/2023
(17,553)
Lattice Semiconductor Corp.
26
(236,444)
110
9/15/2023
(3,900)
Lattice Semiconductor Corp.
32
(291,008)
90
11/17/2023
(33,280)
Lattice Semiconductor Corp.
119
(1,082,186)
95
11/17/2023
(96,985)
Lattice Semiconductor Corp.
28
(254,632)
100
11/17/2023
(17,500)
Lattice Semiconductor Corp.
54
(491,076)
105
11/17/2023
(25,920)
Lattice Semiconductor Corp.
124
(1,127,656)
95
12/15/2023
(114,700)
Lattice Semiconductor Corp.
122
(1,109,468)
100
12/15/2023
(89,060)
Marvell Technology, Inc.
121
(788,073)
45
8/18/2023
(245,630)
Marvell Technology, Inc.
41
(267,033)
64
8/18/2023
(12,505)
Marvell Technology, Inc.
114
(742,482)
50
9/15/2023
(182,115)
Marvell Technology, Inc.
54
(351,702)
55
9/15/2023
(62,235)
Marvell Technology, Inc.
41
(267,033)
65
9/15/2023
(19,475)
Marvell Technology, Inc.
53
(345,189)
55
11/17/2023
(69,165)
Marvell Technology, Inc.
44
(286,572)
65
11/17/2023
(29,920)
Marvell Technology, Inc.
42
(273,546)
70
11/17/2023
(19,530)
Marvell Technology, Inc.
56
(364,728)
52.5
12/15/2023
(88,620)
Marvell Technology, Inc.
42
(273,546)
72.5
12/15/2023
(20,370)
Monolithic Power Systems, Inc.
5
(279,745)
530
8/18/2023
(22,825)
Monolithic Power Systems, Inc.
11
(615,439)
450
9/15/2023
(127,050)
Monolithic Power Systems, Inc.
12
(671,388)
490
9/15/2023
(99,600)
Monolithic Power Systems, Inc.
5
(279,745)
520
9/15/2023
(31,350)
Monolithic Power Systems, Inc.
5
(279,745)
530
9/15/2023
(27,200)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Semiconductors & Semiconductor Equipment (cont’d)
Monolithic Power Systems, Inc.
5
$(279,745)
$540
9/15/2023
$(24,725)
Monolithic Power Systems, Inc.
11
(615,439)
560
9/15/2023
(42,955)
Monolithic Power Systems, Inc.
10
(559,490)
580
9/15/2023
(30,050)
Monolithic Power Systems, Inc.
10
(559,490)
600
9/15/2023
(20,950)
Monolithic Power Systems, Inc.
6
(335,694)
500
12/15/2023
(59,310)
Monolithic Power Systems, Inc.
10
(559,490)
570
12/15/2023
(59,600)
Monolithic Power Systems, Inc.
5
(279,745)
580
12/15/2023
(27,550)
Monolithic Power Systems, Inc.
10
(559,490)
590
12/15/2023
(51,050)
Monolithic Power Systems, Inc.
5
(279,745)
600
12/15/2023
(24,125)
Monolithic Power Systems, Inc.
15
(839,235)
620
12/15/2023
(60,675)
NVIDIA Corp.
9
(420,561)
295
8/18/2023
(155,947)
NVIDIA Corp.
8
(373,832)
320
8/18/2023
(118,720)
NVIDIA Corp.
6
(280,374)
455
8/18/2023
(14,970)
NVIDIA Corp.
12
(560,748)
255
9/15/2023
(257,370)
NVIDIA Corp.
10
(467,290)
275
9/15/2023
(194,825)
NVIDIA Corp.
25
(1,168,225)
315
9/15/2023
(389,625)
NVIDIA Corp.
10
(467,290)
450
9/15/2023
(47,450)
NVIDIA Corp.
6
(280,374)
470
9/15/2023
(22,350)
NVIDIA Corp.
16
(747,664)
360
10/20/2023
(189,480)
NVIDIA Corp.
7
(327,103)
450
10/20/2023
(38,972)
NVIDIA Corp.
12
(560,748)
480
10/20/2023
(50,040)
NVIDIA Corp.
6
(280,374)
460
11/17/2023
(35,580)
NVIDIA Corp.
6
(280,374)
480
11/17/2023
(30,225)
NVIDIA Corp.
8
(373,832)
360
12/15/2023
(101,340)
NVIDIA Corp.
20
(934,580)
450
12/15/2023
(139,950)
NVIDIA Corp.
13
(607,477)
455
12/15/2023
(87,522)
NVIDIA Corp.
13
(607,477)
460
12/15/2023
(84,240)
Qorvo, Inc.
51
(561,102)
105
8/18/2023
(38,760)
Qorvo, Inc.
25
(275,050)
110
8/18/2023
(11,500)
Qorvo, Inc.
48
(528,096)
120
8/18/2023
(6,720)
Qorvo, Inc.
52
(572,104)
110
11/17/2023
(46,800)
Qorvo, Inc.
25
(275,050)
115
11/17/2023
(16,750)
Rambus, Inc.
300
(1,878,300)
50
8/18/2023
(394,500)
Rambus, Inc.
509
(3,186,849)
55
8/18/2023
(432,650)
Rambus, Inc.
44
(275,484)
60
8/18/2023
(20,900)
Rambus, Inc.
44
(275,484)
60
9/15/2023
(25,300)
Rambus, Inc.
56
(350,616)
50
11/17/2023
(84,280)
Rambus, Inc.
261
(1,634,121)
65
11/17/2023
(143,550)
Rambus, Inc.
43
(269,223)
67.5
11/17/2023
(19,350)
Rambus, Inc.
238
(1,490,118)
75
11/17/2023
(57,120)
Rambus, Inc.
77
(482,097)
80
11/17/2023
(11,935)
Taiwan Semiconductor Manufacturing
Co. Ltd.
27
(267,705)
100
8/18/2023
(5,589)
Taiwan Semiconductor Manufacturing
Co. Ltd.
26
(257,790)
100
9/15/2023
(9,880)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Semiconductors & Semiconductor Equipment (cont’d)
Taiwan Semiconductor Manufacturing
Co. Ltd.
26
$(257,790)
$110
9/15/2023
$(2,418)
Taiwan Semiconductor Manufacturing
Co. Ltd.
27
(267,705)
115
9/15/2023
(1,215)
Taiwan Semiconductor Manufacturing
Co. Ltd.
27
(267,705)
105
10/20/2023
(9,315)
Taiwan Semiconductor Manufacturing
Co. Ltd.
25
(247,875)
120
10/20/2023
(1,875)
Taiwan Semiconductor Manufacturing
Co. Ltd.
26
(257,790)
110
11/17/2023
(7,345)
Taiwan Semiconductor Manufacturing
Co. Ltd.
25
(247,875)
115
11/17/2023
(4,525)
Taiwan Semiconductor Manufacturing
Co. Ltd.
24
(237,960)
125
11/17/2023
(1,848)
Taiwan Semiconductor Manufacturing
Co. Ltd.
27
(267,705)
110
1/19/2024
(12,150)
Texas Instruments, Inc.
15
(270,000)
177.5
8/18/2023
(7,763)
Texas Instruments, Inc.
15
(270,000)
180
9/15/2023
(9,188)
Texas Instruments, Inc.
14
(252,000)
190
9/15/2023
(2,793)
Texas Instruments, Inc.
14
(252,000)
210
9/15/2023
(154)
Texas Instruments, Inc.
30
(540,000)
195
10/20/2023
(7,320)
Texas Instruments, Inc.
14
(252,000)
200
10/20/2023
(2,030)
Texas Instruments, Inc.
14
(252,000)
200
11/17/2023
(3,626)
Texas Instruments, Inc.
30
(540,000)
200
1/19/2024
(14,100)
 
 
 
 
 
(8,133,020)
Software
Adobe, Inc.
5
(273,085)
515
8/18/2023
(18,175)
Adobe, Inc.
7
(382,319)
400
10/20/2023
(107,187)
Adobe, Inc.
7
(382,319)
430
10/20/2023
(87,920)
Adobe, Inc.
7
(382,319)
455
10/20/2023
(71,662)
Adobe, Inc.
5
(273,085)
540
10/20/2023
(19,538)
Adobe, Inc.
5
(273,085)
560
10/20/2023
(14,600)
Adobe, Inc.
7
(382,319)
430
12/15/2023
(92,260)
Adobe, Inc.
5
(273,085)
550
12/15/2023
(23,050)
ANSYS, Inc.
8
(273,680)
340
8/18/2023
(9,920)
ANSYS, Inc.
8
(273,680)
340
9/15/2023
(12,960)
ANSYS, Inc.
32
(1,094,720)
360
10/20/2023
(35,840)
ANSYS, Inc.
8
(273,680)
360
12/15/2023
(14,320)
ANSYS, Inc.
8
(273,680)
370
12/15/2023
(11,120)
ANSYS, Inc.
8
(273,680)
380
12/15/2023
(8,000)
Atlassian Corp.
15
(272,910)
177.5
8/18/2023
(22,650)
Atlassian Corp.
16
(291,104)
170
9/15/2023
(36,560)
Atlassian Corp.
15
(272,910)
175
9/15/2023
(30,000)
Atlassian Corp.
16
(291,104)
180
9/15/2023
(27,840)
Atlassian Corp.
15
(272,910)
185
9/15/2023
(22,500)
Atlassian Corp.
15
(272,910)
195
9/15/2023
(16,650)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Software (cont’d)
Atlassian Corp.
28
$(509,432)
$210
9/15/2023
$(19,040)
Atlassian Corp.
17
(309,298)
170
12/15/2023
(55,420)
Atlassian Corp.
16
(291,104)
180
12/15/2023
(43,920)
Atlassian Corp.
15
(272,910)
195
12/15/2023
(31,350)
Atlassian Corp.
15
(272,910)
200
12/15/2023
(28,500)
Autodesk, Inc.
12
(254,388)
212.5
8/18/2023
(6,540)
Autodesk, Inc.
13
(275,587)
230
10/20/2023
(8,515)
Autodesk, Inc.
12
(254,388)
240
10/20/2023
(4,920)
Autodesk, Inc.
12
(254,388)
240
1/19/2024
(12,060)
Bills Holdings, Inc.
65
(814,710)
80
8/18/2023
(296,400)
Bills Holdings, Inc.
65
(814,710)
85
8/18/2023
(268,775)
Bills Holdings, Inc.
30
(376,020)
90
8/18/2023
(111,450)
Bills Holdings, Inc.
27
(338,418)
105
8/18/2023
(60,885)
Bills Holdings, Inc.
22
(275,748)
123
8/18/2023
(24,310)
Bills Holdings, Inc.
21
(263,214)
150
8/18/2023
(5,513)
Bills Holdings, Inc.
51
(639,234)
115
11/17/2023
(121,380)
Bills Holdings, Inc.
23
(288,282)
125
11/17/2023
(43,010)
Bills Holdings, Inc.
44
(551,496)
135
11/17/2023
(63,800)
Cadence Design Systems, Inc.
23
(538,223)
220
8/18/2023
(36,915)
Cadence Design Systems, Inc.
60
(1,404,060)
230
8/18/2023
(47,400)
Cadence Design Systems, Inc.
94
(2,199,694)
240
8/18/2023
(29,140)
Cadence Design Systems, Inc.
11
(257,411)
240
9/15/2023
(7,040)
Cadence Design Systems, Inc.
68
(1,591,268)
250
11/17/2023
(60,520)
Cadence Design Systems, Inc.
46
(1,076,446)
260
11/17/2023
(27,370)
Cadence Design Systems, Inc.
33
(772,233)
270
11/17/2023
(12,705)
Cadence Design Systems, Inc.
22
(514,822)
280
11/17/2023
(8,085)
Crowdstrike Holdings, Inc.
17
(274,822)
155
8/18/2023
(17,043)
Crowdstrike Holdings, Inc.
19
(307,154)
150
10/20/2023
(40,185)
Crowdstrike Holdings, Inc.
18
(290,988)
160
10/20/2023
(27,765)
Crowdstrike Holdings, Inc.
18
(290,988)
160
12/15/2023
(36,495)
Crowdstrike Holdings, Inc.
18
(290,988)
165
12/15/2023
(32,130)
Datadog, Inc.
72
(840,384)
75
8/18/2023
(302,400)
Datadog, Inc.
50
(583,600)
100
8/18/2023
(91,125)
Datadog, Inc.
24
(280,128)
110
8/18/2023
(25,620)
Datadog, Inc.
62
(723,664)
85
9/15/2023
(205,220)
Datadog, Inc.
24
(280,128)
110
9/15/2023
(31,140)
Datadog, Inc.
36
(420,192)
80
10/20/2023
(138,780)
Datadog, Inc.
32
(373,504)
90
10/20/2023
(95,280)
Datadog, Inc.
80
(933,760)
105
10/20/2023
(146,600)
Datadog, Inc.
27
(315,144)
110
10/20/2023
(41,242)
Datadog, Inc.
25
(291,800)
115
10/20/2023
(31,250)
Datadog, Inc.
46
(536,912)
120
10/20/2023
(46,460)
Datadog, Inc.
107
(1,248,904)
110
1/19/2024
(222,025)
Datadog, Inc.
105
(1,225,560)
115
1/19/2024
(189,787)
Dynatrace, Inc.
178
(973,482)
45
8/18/2023
(177,110)
Dynatrace, Inc.
364
(1,990,716)
50
8/18/2023
(200,200)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Software (cont’d)
Dynatrace, Inc.
49
$(267,981)
$54
8/18/2023
$(13,230)
Dynatrace, Inc.
257
(1,405,533)
55
8/18/2023
(55,897)
Dynatrace, Inc.
49
(267,981)
55
9/15/2023
(14,210)
Dynatrace, Inc.
306
(1,673,514)
55
11/17/2023
(143,820)
Dynatrace, Inc.
450
(2,461,050)
60
11/17/2023
(120,375)
Gitlab, Inc.
54
(268,002)
48.5
8/18/2023
(16,470)
Gitlab, Inc.
67
(332,521)
45
10/20/2023
(58,625)
Gitlab, Inc.
53
(263,039)
55
10/20/2023
(21,730)
Gitlab, Inc.
50
(248,150)
60
10/20/2023
(13,625)
Gitlab, Inc.
78
(387,114)
38
1/19/2024
(122,070)
HubSpot, Inc.
5
(290,275)
550
8/18/2023
(22,400)
HubSpot, Inc.
13
(754,715)
460
9/15/2023
(167,115)
HubSpot, Inc.
12
(696,660)
470
9/15/2023
(142,680)
HubSpot, Inc.
6
(348,330)
480
9/15/2023
(66,420)
HubSpot, Inc.
5
(290,275)
560
9/15/2023
(24,450)
HubSpot, Inc.
5
(290,275)
590
9/15/2023
(16,525)
HubSpot, Inc.
5
(290,275)
560
12/15/2023
(38,050)
HubSpot, Inc.
5
(290,275)
580
12/15/2023
(32,800)
HubSpot, Inc.
10
(580,550)
600
12/15/2023
(56,000)
Intuit, Inc.
5
(255,850)
495
8/18/2023
(11,375)
Intuit, Inc.
5
(255,850)
500
9/15/2023
(14,950)
Intuit, Inc.
11
(562,870)
470
10/20/2023
(63,195)
Intuit, Inc.
6
(307,020)
480
10/20/2023
(30,210)
Intuit, Inc.
12
(614,040)
490
10/20/2023
(51,840)
Intuit, Inc.
6
(307,020)
500
10/20/2023
(22,020)
Intuit, Inc.
11
(562,870)
510
10/20/2023
(34,045)
Intuit, Inc.
11
(562,870)
520
10/20/2023
(28,435)
Intuit, Inc.
6
(307,020)
520
11/17/2023
(18,570)
Intuit, Inc.
12
(614,040)
500
1/19/2024
(63,720)
Intuit, Inc.
24
(1,228,080)
510
1/19/2024
(113,280)
Palo Alto Networks, Inc.
11
(274,956)
245
8/18/2023
(11,110)
Palo Alto Networks, Inc.
60
(1,499,760)
250
8/18/2023
(42,750)
Palo Alto Networks, Inc.
42
(1,049,832)
200
9/15/2023
(220,080)
Palo Alto Networks, Inc.
13
(324,948)
210
9/15/2023
(56,452)
Palo Alto Networks, Inc.
52
(1,299,792)
220
9/15/2023
(180,570)
Palo Alto Networks, Inc.
13
(324,948)
230
9/15/2023
(34,970)
Palo Alto Networks, Inc.
23
(574,908)
250
9/15/2023
(33,005)
Palo Alto Networks, Inc.
22
(549,912)
260
9/15/2023
(21,505)
Palo Alto Networks, Inc.
13
(324,948)
230
12/15/2023
(46,670)
Palo Alto Networks, Inc.
23
(574,908)
250
12/15/2023
(55,890)
Palo Alto Networks, Inc.
69
(1,724,724)
260
12/15/2023
(134,377)
Palo Alto Networks, Inc.
10
(249,960)
270
12/15/2023
(15,450)
Salesforce, Inc.
12
(270,012)
225
8/18/2023
(6,540)
Salesforce, Inc.
12
(270,012)
230
9/15/2023
(10,710)
Salesforce, Inc.
12
(270,012)
230
11/17/2023
(16,650)
Salesforce, Inc.
24
(540,024)
250
11/17/2023
(15,780)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Software (cont’d)
ServiceNow, Inc.
11
$(641,300)
$480
8/18/2023
$(115,555)
ServiceNow, Inc.
5
(291,500)
510
8/18/2023
(37,625)
ServiceNow, Inc.
12
(699,600)
520
8/18/2023
(78,540)
ServiceNow, Inc.
5
(291,500)
530
8/18/2023
(28,075)
ServiceNow, Inc.
5
(291,500)
580
8/18/2023
(8,175)
ServiceNow, Inc.
5
(291,500)
560
9/15/2023
(19,800)
ServiceNow, Inc.
10
(583,000)
580
11/17/2023
(47,600)
ServiceNow, Inc.
5
(291,500)
590
11/17/2023
(21,175)
ServiceNow, Inc.
14
(816,200)
610
11/17/2023
(46,480)
ServiceNow, Inc.
19
(1,107,700)
620
11/17/2023
(55,480)
ServiceNow, Inc.
14
(816,200)
630
11/17/2023
(36,050)
ServiceNow, Inc.
9
(524,700)
660
11/17/2023
(15,390)
Workday, Inc.
13
(308,269)
210
9/15/2023
(40,625)
Zscaler, Inc.
27
(433,026)
100
8/18/2023
(164,025)
Zscaler, Inc.
23
(368,874)
120
8/18/2023
(94,012)
Zscaler, Inc.
22
(352,836)
130
8/18/2023
(68,420)
Zscaler, Inc.
20
(320,760)
145
8/18/2023
(34,650)
Zscaler, Inc.
17
(272,646)
157.5
8/18/2023
(14,025)
Zscaler, Inc.
19
(304,722)
165
8/18/2023
(8,883)
Zscaler, Inc.
50
(801,900)
155
9/15/2023
(83,875)
Zscaler, Inc.
17
(272,646)
160
9/15/2023
(24,013)
Zscaler, Inc.
21
(336,798)
140
11/17/2023
(64,837)
Zscaler, Inc.
20
(320,760)
150
11/17/2023
(49,450)
Zscaler, Inc.
19
(304,722)
155
11/17/2023
(41,610)
Zscaler, Inc.
18
(288,684)
160
11/17/2023
(34,740)
Zscaler, Inc.
17
(272,646)
180
11/17/2023
(19,125)
 
 
 
 
 
(7,968,448)
Wireless Telecommunication Services
T-Mobile U.S., Inc.
19
(261,763)
141
8/18/2023
(2,508)
T-Mobile U.S., Inc.
17
(234,209)
160
8/18/2023
(179)
T-Mobile U.S., Inc.
17
(234,209)
175
8/18/2023
(60)
T-Mobile U.S., Inc.
19
(261,763)
140
9/15/2023
(6,175)
T-Mobile U.S., Inc.
57
(785,289)
150
11/17/2023
(15,419)
T-Mobile U.S., Inc.
37
(509,749)
155
11/17/2023
(6,087)
T-Mobile U.S., Inc.
18
(247,986)
165
11/17/2023
(1,143)
T-Mobile U.S., Inc.
17
(234,209)
170
11/17/2023
(740)
 
 
 
 
 
(32,311)
Total calls
 
 
 
 
$(22,373,316)
Puts
Automobiles
Tesla, Inc.
20
(534,860)
270
8/18/2023
(21,850)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Chemicals
Linde PLC
50
$(1,953,350)
$365
8/18/2023
$(4,875)
Electronic Equipment, Instruments & Components
Keysight Technologies, Inc.
150
(2,416,200)
160
8/18/2023
(69,750)
Keysight Technologies, Inc.
100
(1,610,800)
165
8/18/2023
(74,000)
Zebra Technologies Corp.
120
(3,695,520)
280
8/18/2023
(52,200)
 
 
 
 
 
(195,950)
Entertainment
Take-Two Interactive Software, Inc.
100
(1,529,400)
140
8/18/2023
(12,150)
Take-Two Interactive Software, Inc.
100
(1,529,400)
150
8/18/2023
(38,750)
 
 
 
 
 
(50,900)
Health Care Equipment & Supplies
Dexcom, Inc.
100
(1,245,600)
120
8/18/2023
(19,750)
Dexcom, Inc.
200
(2,491,200)
125
9/15/2023
(115,000)
 
 
 
 
 
(134,750)
IT Services
Globant SA
50
(873,650)
175
8/18/2023
(35,750)
Semiconductors & Semiconductor Equipment
Applied Materials, Inc.
100
(1,515,900)
135
8/18/2023
(5,950)
ASML Holding NV
20
(1,432,820)
720
8/18/2023
(38,200)
Intel Corp.
100
(357,700)
35
8/18/2023
(7,200)
Lam Research Corp.
25
(1,796,225)
610
8/18/2023
(1,500)
Monolithic Power Systems, Inc.
40
(2,237,960)
520
8/18/2023
(48,000)
Monolithic Power Systems, Inc.
20
(1,118,980)
550
8/18/2023
(46,200)
NVIDIA Corp.
10
(467,290)
425
9/15/2023
(17,075)
 
 
 
 
 
(164,125)
Software
ANSYS, Inc.
65
(2,223,650)
320
8/18/2023
(20,800)
Autodesk, Inc.
50
(1,059,950)
210
8/18/2023
(20,750)
Intuit, Inc.
30
(1,535,100)
470
8/18/2023
(3,825)
Microsoft Corp.
80
(2,687,360)
330
8/18/2023
(35,400)
Microsoft Corp.
100
(3,359,200)
332.5
8/18/2023
(53,750)
Microsoft Corp.
60
(2,015,520)
355
8/18/2023
(124,650)
Microsoft Corp.
50
(1,679,600)
360
8/18/2023
(126,375)
Salesforce, Inc.
100
(2,250,100)
210
8/18/2023
(8,600)
Salesforce, Inc.
80
(1,800,080)
220
9/15/2023
(60,600)
ServiceNow, Inc.
30
(1,749,000)
570
8/18/2023
(23,550)
Workday, Inc.
90
(2,134,170)
220
8/18/2023
(9,225)
 
 
 
 
 
(487,525)
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
Description
Number of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Value
Wireless Telecommunication Services
T-Mobile U.S., Inc.
150
$(2,066,550)
$135
8/18/2023
$(19,875)
Total puts
 
 
 
 
$(1,115,600)
Total options written (premium received $15,353,246)
$(23,488,916)
 
 
 
(a)
Value determined using significant unobservable inputs.
(b)
Security fair valued as of July 31, 2023 in accordance with procedures approved by the valuation designee.
At July 31, 2023, the Fund had securities pledged in the amount of $101,232,500 to cover collateral requirements for options written.
The following is a summary, categorized by Level (see the Notes to Consolidated Schedule of Investments), of inputs used to value the Fund’s investments as of July 31, 2023: 
Asset Valuation Inputs
Level 1
Level 2
Level 3(a)
Total
Investments:
 
 
 
 
Common Stocks
Computers
$—
$—
$17,100,003
$17,100,003
Software
222,550,260
—
26,208,360
248,758,620
Other Common Stocks#
589,624,189
—
—
589,624,189
Total Common Stocks
812,174,449
—
43,308,363
855,482,812
Preferred Stocks#
—
—
103,299,171
103,299,171
Convertible Bonds
Computers
—
—
5,000,000
5,000,000
Other Convertible Bonds#
—
4,446,204
—
4,446,204
Total Convertible Bonds
—
4,446,204
5,000,000
9,446,204
Short-Term Investments
—
121,428,655
—
121,428,655
Total Investments
$812,174,449
$125,874,859
$151,607,534
$1,089,656,842
 
#
The Consolidated Schedule of Investments provides information on the industry or sector categorization as
well as a Positions by Country summary.
(a)
The following is a reconciliation between the beginning and ending balances of investments in which
unobservable inputs (Level 3) were used in determining value:
 
(000's
omitted)
Beginning
balance as
of 11/1/2022
Accrued
discounts/
(premiums)
Realized
gain/(loss)
Change
in unrealized
appreciation/
(depreciation)
Purchases
Sales
Transfers
into
Level 3
Transfers
out of
Level 3
Balance
as of
7/31/2023
Net change in
unrealized
appreciation/
(depreciation)
from
investments
still held as of
7/31/2023
Investments in Securities:
Common Stocks(1)
$49,532
$—
$—
$(6,223
)
$—
$—
$—
$—
$43,309
$(6,223
)
Preferred Stocks(1)
109,535
—
—
(6,236
)
—
—
—
—
103,299
(6,236
)
Convertible Bonds(1)
5,000
—
—
—
—
—
—
—
5,000
—
Total
$164,067
$—
$—
$(12,459
)
$—
$—
$—
$—
$151,608
$(12,459
)
 
See Notes to Consolidated Schedule of Investments
Consolidated Schedule of Investments Next Generation Connectivity Fund Inc.^ (Unaudited)  (cont’d)
(1)
Quantitative Information about Level 3 Fair Value Measurements:
Investment type
Fair value
at
7/31/2023
Valuation
approach
Unobservable
input(s)
Input value/
range
Weighted
average(a)
Impact to
valuation
from
increase
in input(b)
Common Stock
$45,308,363
Market Approach
Enterprise value/Revenue
multiple(c) (EV/Revenue)
9.0x - 12.0x
10.8x
Increase
 
 
Liquidation Preference Discount
31.3%
31.3%
Decrease
Preferred Stock
67,834,926
Market Approach
Enterprise value/Revenue
multiple(c) (EV/Revenue)
3.0x - 12.0x
6.2x
Increase
Preferred Stock
10,464,237
Market Approach
Transaction Price
$0.46 - $369.79
$353.40
Increase
Preferred Units
25,000,008
Market Approach
Enterprise value/Revenue
multiple(c) (EV/Revenue) 
3.0x
3.0x
Increase
Convertible Bonds
5,000,000
Market Approach
Transaction Price
$1,000.00
$1,000.00
Increase
(a) The weighted averages disclosed in the table above were weighted by relative fair value.
(b) Represents the expected directional change in the fair value of the Level 3 investments that
would result from an increase or decrease in the corresponding input. Significant changes in
these inputs could result in significantly higher or lower fair value measurements.
(c) Represents amounts used when the reporting entity has determined that market participants
would use such multiples when pricing the investments.
 
The following is a summary, categorized by Level (see the Notes to Consolidated Schedule of Investments), of inputs used to value the Fund’s derivatives as of July 31, 2023: 
Other Financial Instruments
Level 1
Level 2
Level 3(a)
Total
Options Written
Liabilities
$(23,488,236
)
$—
$(680
)
$(23,488,916
)
Total
$(23,488,236
)
$—
$(680
)
$(23,488,916
)
 
(a)
The following is a reconciliation between the beginning and ending balances of derivative investments in
which unobservable inputs (Level 3) were used in determining value:
 
(000's
omitted)
Beginning
balance as
of 11/1/2022
Accrued
discounts/
(premiums)
Realized
gain/(loss)
Change
in unrealized
appreciation/
(depreciation)
Purchases/
Closing
of options
Sales/
Writing
of options
Transfers
into
Level 3
Transfers
out of
Level 3
Balance
as of
7/31/2023
Net change in
unrealized
appreciation/
(depreciation)
from
investments
still held as of
7/31/2023
Other Financial Instruments
Written Option
Contracts(1)
$(7
)
$—
$48
$76
$7
$(125
)
$—
$—
$(1
)
$122
Total
$(7
)
$—
$48
$76
$7
$(125
)
$—
$—
$(1
)
$122
(1)
For the period ended July 31, 2023, these investments were valued in accordance with procedures
approved by the valuation designee. These investments did not have a material impact on the Fund’s
net assets applicable to common stockholders and, therefore, disclosure of unobservable inputs used
in formulating valuations is not presented.
 
^  A balance indicated with a "—", reflects either a zero balance or an amount that rounds to less than 1.
See Notes to Consolidated Schedule of Investments
July 31, 2023
Notes to Consolidated Schedule of Investments Next Generation Connectivity Fund Inc. (Unaudited) 
 
In accordance with Accounting Standards Codification 820 "Fair Value Measurement" ("ASC 820"), all investments held by Neuberger Berman Next Generation Connectivity Fund Inc. (the "Fund") are carried at the value that 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 judgment 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, preferred stocks, and exchange-traded options written, 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 debt securities is determined by Management primarily by obtaining valuations from independent pricing services based on bid quotations, or if quotations are not available, by methods which include various considerations based on security type (generally Level 2 inputs). In addition
to the consideration of yields or prices of securities of comparable quality, coupon, maturity and type, indications as to values from dealers, and general market conditions, the following is a description of other Level 2 inputs and related valuation techniques used by independent pricing services to value certain types of debt securities held by the Fund: 
Convertible Bonds. Inputs used to value convertible bonds generally include underlying stock data, conversion rates, credit specific details, relevant listed bond and preferred stock prices and other market information, which may include benchmark yield curves, reported trades, broker-dealer quotes, issuer spreads, comparable securities, and reference data, such as market research publications, when available.
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. 
For information on the Fund's significant accounting policies, please refer to the Fund's most recent stockholder reports.
Notes to Consolidated Schedule of Investments Next Generation Connectivity Fund Inc. (Unaudited)  (cont’d)
 
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, as amended, 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 any and all Fund investments. Inputs and assumptions considered in determining the fair value of a security based on Level 2 or Level 3 inputs may include, but are not limited to, the type of the 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/or 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. 
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 ("NYSE") 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 on days 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 as of which the Fund's share price is calculated, Management has determined on the basis of 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 are the prices of those securities established at the close of the foreign markets in which the securities primarily trade. 
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 next trades. 
On February 25, 2022, to facilitate compliance with certain requirements necessary to maintain its status as a regulated investment company, the Fund formed NB A24 NBXG Blocker LLC (the "Blocker"), a Delaware limited liability company, to hold interests in certain private placements. The Blocker is a wholly owned subsidiary of the Fund and the Fund will remain its sole member. 
As of July 31, 2023, the value of the Fund's investment in the Blocker was as follows:  
 
Investment in
Blocker
Percentage of
Net Assets
$24,984,759
2.3
%
For information on the Fund's significant accounting policies, please refer to the Fund's most recent stockholder reports.
Notes to Consolidated Schedule of Investments Next Generation Connectivity Fund Inc. (Unaudited) (cont'd)
Legend
 
Other Abbreviations:
ADR
= American Depositary Receipt
Management
= Neuberger Berman Investment Advisers LLC
For information on the Fund's significant accounting policies, please refer to the Fund's most recent stockholder reports.
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