Neuberger Berman Disrupters ETF (NBDS) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing at least 80% of its net assets in a concentrated, all-cap portfolio of equity securities issued by U.S. and non-U.S. companies pursuing disruptive growth agendas, including those creating new markets, disrupting old paradigms, or applying disruptive technologies across themes such as connectivity, electric vehicles, cell and gene therapy, and new products and services; the fund emphasizes higher-quality names with potential for self-funded growth, rigorous fundamental sell discipline, and factor risk management. Top holdings typically include leading innovators like NVIDIA Corp., Spotify Technology SA, Robinhood Markets Inc., Intuitive Surgical Inc., and Amazon.com Inc., with significant sector allocations to technology (over 50%), financial services, consumer cyclical, and communication services, alongside minor exposure to emerging Asia, Canada, and the Eurozone. Launched on April 6, 2022, under Neuberger Berman ETF Trust and managed by Neuberger Berman Investment Advisers LLC—an employee-owned investment manager founded in 1939 and headquartered in New York—the ETF features a net expense ratio of 0.55% and trades on NYSE Arca with assets under management around $25-28 million. In a recent strategic simplification for marketing purposes, Neuberger Berman announced on December 3, 2025, that the fund's name will change from Neuberger Berman Disrupters ETF to Neuberger Disrupters ETF, effective December 18, 2025, as part of a broader renaming across multiple Neuberger Berman ETFs. No other major acquisitions, partnerships, funding rounds, or product launches specific to NBDS have been reported in the last 1-2 years, though the fund maintains active portfolio adjustments, such as recent additions including Keysight Technologies Inc. and Moderna Inc. in 2024.