Company: NPFD
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230111
Chunk: 19

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 19
---
, investments with a value of $198,196,181 have been pledged as collateral for reverse repurchase agreements. |

| (g) | Investment, or portion of investment, represents an outstanding unfunded senior loan commitment. |

| (h) | Portion of investment purchased on a delayed delivery basis. |

| (i) | Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under 
 the protection of bankruptcy.                                                                                       |

| (j) | The rate shown is the annualized seven-day subsidized yield as of end of the 
 reporting period.                                                            |

| (k) | Borrowings as a percentage of Total Investments is 15.3%. |

| (l) | The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for 
 specific investments in derivatives, when applicable) in the Portfolio of Investments as collateral for borrowings.  |

| (m) | Reverse Repurchase Agreements, including accrued interest as a percentage of Total investments is 10.3%. |

| (n) | TFP Shares, Net as a percentage of Total Investments is 10.1%. |

| See Notes to Financial Statements |     | 49 |

Portfolio of Investments July 31, 2025 JPC

| SHARES    |            |     |                |     | DESCRIPTION                                                         
 LONG-TERM INVESTMENTS - 157.0% (99.5% of Total Investments)         
 COMMON STOCKS - 0.0% (0.0% of Total Investments)                    
 MATERIALS - 0.0% (0.0% of Total Investments)                        |     |      |        |     |          |          |     | VALUE |            |
|:----------|-----------:|:----|:---------------|:----|:--------------------------------------------------------------------|:----|:-----|-------:|:----|:---------|:---------|:----|:------|-----------:|
|           |         60 |     |                |     | LyondellBasell Industries NV, Class A                               |     |      |        |     |          |          |     | $     |      3,476 |
|           |            |     |                |     | TOTAL MATERIALS                                                     |     |      |        |     |          |          |     |       |      3,476 |
|           |            |     |                |     | TOTAL COMMON STOCKS (Cost