Company: NPFD
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230111
Chunk: 46

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-10-03
Form: N-CSR
Chunk 46
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 are recognized as net realized gain (loss) from swap contracts on the Statement of Operations, in addition to the net realized gain or loss recorded upon the termination of the swap contract. The average notional amount of interest rate swap contracts outstanding during the current fiscal period was as follows:

| Fund |     | Average Notional Amount of Interest Rate 
 Swap Contracts Outstanding*              |              |
| JPC  |     |                                          | $776,800,000 |

| * | The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding    
 at the beginning of the current fiscal period and at the end of each fiscal quarter within the current fiscal period. |

The following table presents the swap contracts subject to netting agreements and the collateral delivered related to those swap contracts as of the end of the current fiscal period.

| Fund |     | Counterparty                        |     | Gross Unrealized      
 Appreciation Interest 
 Rate Swaps***         |           |     | Gross Unrealized        
 (Depreciation) Interest 
 Rate Swaps***           |   |     | Net Unrealized Appreciation 
 (Depreciation) on           
 Interest Rate Swaps         |           |     | Collateral        
 Pledged to (from) 
 Counterparty      |            |   |     | Net Exposure |         |
|:-----|:----|:------------------------------------|:----|:----------------------|----------:|:----|:------------------------|:--|:----|:----------------------------|----------:|:----|:------------------|:-----------|:--|:----|:-------------|--------:|
| JPC  |     | Morgan Stanley Capital Services LLC |     | $                     | 2,390,002 |     | $                       | - |     | $                           | 2,390,002 |     | $                 | (1,938,338 | ) |     | $            | 451,664 |

| *** | Represents gross unrealized appreciation (depreciation) for the counterparty as reported in the Fund’s 
 Portfolio of Investments.                                                                              |

As of the end of the current fiscal period, the Funds have invested in derivative contracts which are reflected in the Statement of Assets and Liabilities as follows:

| Derivative Instrument 
 JPC                   |     | Risk Exposure |     | Asset Derivatives                  
 Location                           |     | Value |           |     | Liability Derivatives 
 Location              |     | Value |    |
|:----------------------|:----|