Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 250

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 250
---
241,966)

Interest

Rate

Swaps

Interest

rate

Unrealized

appreciation

on

interest

rate

swaps

contracts

13,041,892

-

–

1

1

1

1

1

1

1

1

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts;

however,

the

value

reflected

in

the

accompanying

Statements

of

Assets

and

Liabilities

is

only

the

receivable

or

payable

for

variation

margin

on

open

futures

contracts.

#### 89

#### Market

#### and

#### Counterparty

#### Credit
Risk:

In

the

normal

course

of

### business
each

Fund

may

invest

in

### financial
instruments

and

enter

into

### financial
transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk)

or

failure

of

the

other

party

to

the

transaction

to

perform

(counterparty

credit

risk).

The

potential

loss

could

exceed

the

value

of

the

### financial
assets

recorded

on

the

### financial
statements.

### Financial
assets,

which

potentially

expose

each

Fund

to

counterparty

credit

risk,

consist

principally

of

cash

due

from

counterparties

on

forward,

option

and

swap

transactions,

when

applicable.

The

extent

of

each

Fund’s

exposure

to

counterparty

credit

risk

in

respect

to

these

### financial
assets

approximates

their

carrying

value

as

recorded

on

the

Statement

of

Assets

and

Liabilities.

Each

Fund

helps

manage

counterparty

credit

risk

by

entering

into

agreements

only

with

counterparties

the

Adviser

believes

have

the

### financial
resources

to

honor

their

obligations

and

by

having

the

Adviser

monitor

the

### financial
stability

of

the