Neuberger Berman’s Kocinski Boosts NHS Stake to 21K Shares

Rhea-AI Filing Summary

Form 4 highlights: On 07/17/2025, portfolio manager Chris Kocinski purchased 6,000 common shares of Neuberger Berman High Yield Strategies Fund Inc. (NHS) at a volume-weighted average price of $7.3995 (price range $7.395-$7.41). This was an open-market “P” code transaction and no shares were sold.

Following the trade, Kocinski’s direct beneficial ownership rose to 21,000 shares. No derivative securities were involved and there were no amendments to prior filings. The transaction suggests incremental insider confidence but represents a modest dollar amount (~$44k) relative to the fund’s market capitalization.

Positive

• Insider purchase: 6,000 shares acquired at $7.3995, raising ownership to 21,000 shares—often read as a confidence signal.

Negative

• None.

Insights

Securities Analyst

TL;DR: Modest insider buy; positive signal but limited capital deployed.

The Form 4 shows a small open-market purchase, increasing Kocinski’s stake by 40%. Insider buying—especially from a portfolio manager—tends to be interpreted as a vote of confidence in future NAV performance or discount narrowing. However, the absolute size is immaterial to fund liquidity and unlikely to move NHS’s share price on its own. I classify the filing as low-impact positive; it supports sentiment but offers no fundamental change to earnings, leverage, or distribution policy.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Kocinski Chris

(Last) (First) (Middle)

190 SOUTH LASALLE STREET

NEUBERGER BERMAN INVESTMENT ADVISERS

(Street)

CHICAGO IL 60603

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Neuberger Berman High Yield Strategies Fund Inc. [ NHS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Portfolio Manager

3. Date of Earliest Transaction (Month/Day/Year)
07/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/17/2025		P		6,000	A	$7.3995(1)	21,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares were purchased in separate transactions. The range of prices for the transactions reported on this line was $7.395 to $7.41. The Reporting Person undertakes to provide upon request by the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased at each separate price.

	/s/ Jennifer R. Gonzalez, as attorney-in-fact for Chris Kocinski	07/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many NHS shares did Chris Kocinski buy?

6,000 common shares were purchased on 07/17/2025.

What was the average price paid for NHS shares?

The volume-weighted average price was $7.3995, with a $7.395–$7.41 range.

What is Kocinski’s total ownership after the trade?

He now directly holds 21,000 NHS shares.

Was any stock sold in this Form 4?

No. The filing shows only an acquisition (code P); no dispositions were reported.

Does the filing report any derivative securities?

No derivative positions were disclosed in Table II.