Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 26

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 26
---

.9‌

%

Australia

0

.9‌

%

Other

2

.2‌

%

#### Total

#### 100‌
#### %

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

2

Includes

1.5%

(as

a

percentage

of

total

investments)

in

emerging

market

countries.

#### Nuveen

#### Variable

#### Rate

#### Preferred
#### &

#### Income

#### Fund

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### January

#### 31,

#### 2025

#### 17
NPFD

#### Performance*
*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

NPFD

Blended

Benchmark.

The

Fund’s

Blended

Benchmark

consists

of

1)

80%

ICE

Variable

Rate

Preferred

&

Hybrid

Securities

Index

and

2)

20%

ICE

USD

Contingent

Capital

Index.

#### Daily

#### Common

#### Share

#### NAV

#### and

#### Share

#### Price

#### Total

#### Returns

#### as

#### of

#### January

#### 31,

#### 2025

#### Cumulative

#### Average

#### Annual

#### Inception

#### Date

#### 6-Month

#### 1-Y

#### ear

#### Since

#### Inception
NPFD

at

Common

Share

NAV

12/15/21

4.84%

11.10%

0.10%

NPFD

at

Common

Share

Price

12/15/21

7.51%

22.58%

(0.64)%

ICE

Variable

Rate

Preferred

&

Hybrid

Securities

Index

—

4.60%

9.83%

4.48%

NPFD

Blended

Benchmark

—

4.67%

10.12%

3.67%

#### Common

#### Share

#### NAV

#### Common

#### Share

#### Price

#### Premium/(Discount)

#### to

#### NAV

#### Average

#### Premium/(Discount)

#### to

#### NAV
$20.09

$19.17

(