Company: NPFD
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230111
Chunk: 20

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 20
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:|:----|:---------------|----------:|
| Morgan Stanley Capital Services, LLC |     |               | Receive |     |               | SOFR |     |              | 2.364 | % |     |            | Monthly |     |           | 7/01/19 |     |             | 7/01/26 |     |          | 7/01/28 |     | $        | 138,000,000 |     | $     | 2,390,002 |     | $              | 2,390,002 |

| SOFR | Secured Overnight Financing Rate |

| (a) | Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on 
 each contract.                                                                                                   |

| 56 |     | See Notes to Financial Statements |

Portfolio of Investments July 31, 2025 JPI

| PRINCIPAL |            |     |                |     | DESCRIPTION                                                 
 LONG-TERM INVESTMENTS - 155.1% (99.5% of Total Investments) 
 CORPORATE BONDS - 136.8% (87.7% of Total Investments) (a)   
 AUTOMOBILES & COMPONENTS - 0.8% (0.5% of Total Investments) |     | RATE |        |     | MATURITY |          |     | VALUE |           |
|:----------|-----------:|:----|:---------------|:----|:------------------------------------------------------------|:----|:-----|-------:|:----|:---------|:---------|:----|:------|----------:|
|           | $1,483,000 |     | -b),(c         |     | General Motors Financial Co Inc                             |     |      | 5.750% |     |          | N/A      |     | $     | 1,448,208 |
|           |    900,000 |     | -b),(c         |     | General Motors Financial Co Inc                             |     |      |  5.700 |     |          | N/A      |     |       |   878,024 |
|           |            |     |                |     | TOTAL AUTOMOBILES & COMPONENTS                              |     |      |        |     |          |          |     |       | 2,326,232 |
|           |            |     |                |     | BANKS - 78.4% (