Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 23

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 23
---
#### Portfolio

#### Composition

#### 1
**(%**

#### of

#### total

#### investments)
Banks

54.5%

### Financial
Services

18.3%

Insurance

10.9%

Utilities

5.7%

Energy

3.5%

Food,

Beverage

&

Tobacco

2.5%

Other

3.9%

Repurchase

Agreements

0.7%

#### Total

#### 100%

#### Country

#### Allocation

#### 2
**(%**

#### of

#### total

#### investments)
United

States

55

.5‌

%

United

Kingdom

13

.3‌

%

France

8

.8‌

%

Canada

5

.7‌

%

Spain

4

.3‌

%

Switzerland

3

.8‌

%

Netherlands

2

.1‌

%

Germany

1

.5‌

%

Australia

1

.2‌

%

Ireland

1

.0‌

%

Italy

0

.8‌

%

Other

2

.0‌

%

#### Total

#### 100‌
#### %

#### Top

#### Five

#### Issuers
**(%**

#### of

#### total

#### long-term

#### investments)
Citigroup

Inc

4.5%

HSBC

Holdings

PLC

4.3%

BNP

Paribas

SA

4.2%

Wells

Fargo

&

Co

3.8%

UBS

Group

AG

3.7%

#### Portfolio

#### Credit

#### Quality
**(%**

#### of

#### total

#### long-term

#### fixed

#### income

#### investments)
AAA

1.0%

A

0.2%

BBB

78.0%

BB

or

Lower

19.6%

N/R

(not

rated)

1.2%

#### Total

#### 100‌
#### %

1

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising  “Other”

and

not

listed

in

the

table

above.

2

Includes

1.3%

(as

a

percentage

of

total

investments)

in

emerging

market

countries.

#### Nuveen

#### Preferred

#### Securities
#### &

#### Income

#### Opportunities

#### Fund

#### Fund