Company: NPFD
Filing Date: 2025-04-04
Form Type: N-CSRS
Source: 0001193125-25-073013
Chunk: 27

Company: Nuveen Variable Rate Preferred & Income Fund
Filing Date: 2025-04-04
Form: N-CSRS
Chunk 27
---
4.58)%

(7.08)%

#### 18

#### Performance

### Overview

#### and

#### Holdings

#### Summaries

#### as

#### of

#### January

#### 31,

#### 2025
(continued)

#### Leverage

#### and

#### Holdings

#### Leverage
Effective

Leverage

37.15%

Regulatory

Leverage

34.82%

#### Fund

#### Allocation
**(%**

#### of

#### net

#### assets)
$1,000

Par

(or

similar)

Institutional

Preferred

110

.2‌

%

Contingent

Capital

Securities

31

.9‌

%

$25

Par

(or

similar)

Retail

Preferred

13

.7‌

%

U.S.

Government

and

Agency

Obligations

1

.2‌

%

Corporate

Bonds

0

.4‌

%

Repurchase

Agreements

0

.7‌

%

Other

Assets

&

Liabilities,

Net

0.9%

Reverse

Repurchase

Agreements,

including

accrued

interest

(

5

.7‌

)

%

Borrowings

(35.9)%

TFP

Shares,

Net

(

17

.4‌

)

%

#### Net

#### Assets

#### 100‌
#### %

#### Top

#### Five

#### Issuers
**(%**

#### of

#### total

#### long-term

#### investments)
Goldman

Sachs

Group

Inc/The

5.0%

Citigroup

Inc

4.0%

JPMorgan

Chase

&

Co

3.4%

Wells

Fargo

&

Co

3.4%

Enbridge

Inc

3.3%

#### Portfolio

#### Composition

#### 1
**(%**

#### of

#### total

#### investments)
Banks

43.2%

### Financial
Services

16.9%

Insurance

14.9%

Utilities

9.9%

Energy

6.4%

Capital

Goods

2.4%

Other

5.9%

Repurchase

Agreements

0.4%

#### Total

#### 100%

#### Portfolio

#### Credit

#### Quality
**(%**

#### of

#### total

#### long-term

#### investments)
AAA

0.8%

BBB

72.4%

BB

or

Lower

25.0