# EDGAR Filing Document

**Accession Number:** 0001865389
**File Stem:** 0001752724-25-157613
**Filing Date:** 2025-6
**Character Count:** 101987
**Document Hash:** 46fdc4e7cc4883cdf0cbd6b8e8d9de15
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-157613.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-157613

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nuveen Variable Rate Preferred & Income Fund
- **CENTRAL INDEX KEY:** 0001865389

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23704
- **FILM NUMBER:** 251076568

**BUSINESS ADDRESS:**
- **STREET 1:** 333 W. WACKER DR.
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-917-8146

**MAIL ADDRESS:**
- **STREET 1:** 333 W. WACKER DR.
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

## Nport-Ex

#### Portfolio

#### of

#### Investments

#### April

#### 30,

#### 2025

#### NPFD
(Unaudited)

PRINCIPAL

/

SHARES

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

156.8%

(100.0%

of

Total

Investments)

509709730

$1,000

PAR

(OR

SIMILAR)

INSTITUTIONAL

PREFERRED

-

.8

%

(69

.4

%

of

Total

Investments)

509709730

AUTOMOBILES

&

COMPONENTS

-

3.7%

(2.4%

of

Total

Investments)

$

10,476,000

(a) General

Motors

Financial

Co

Inc

.750

%

N/A

$

9,750,513

8,195,000

(a) General

Motors

Financial

Co

Inc

.700

N/A

7,705,692

TOTAL

AUTOMOBILES

&

COMPONENTS

17,456,205

BANKS

-

39.5%

(25.2%

of

Total

Investments)

1,775,000

(a) Bank

of

America

Corp

.300

N/A

1,776,518

12,981,000

(a) Bank

of

America

Corp

.625

N/A

12,986,978

5,000,000

(a) Bank

of

America

Corp

.875

N/A

4,947,976

3,782,000

Bank

of

Montreal

.300

11/26/84

3,718,448

1,470,000

Bank

of

Montreal

.700

05/26/84

1,496,326

3,090,000

(b) Bank

of

Nova

Scotia/The

.000

01/27/84

3,161,713

2,998,000

Canadian

Imperial

Bank

of

Commerce

.950

01/28/85

2,890,698

13,100,000

(a) Citigroup

Inc

.625

N/A

13,451,486

1,650,000

(a) Citigroup

Inc

.375

N/A

1,670,526

3,014,000

(a) Citigroup

Inc

.000

N/A

2,990,321

5,351,000

(a) Citigroup

Inc

.125

N/A

5,277,454

2,875,000

(a) Citigroup

Inc

.250

N/A

2,883,635

6,500,000

(a),(c)

Citizens

Financial

Group

Inc

(TSFR3M

+

3.419%)

.703

N/A

6,393,133

50,000

(a),(d)

Farm

Credit

Bank

of

Texas

.200

N/A

48,875

50,000

(a),(d)

Farm

Credit

Bank

of

Texas

.700

N/A

49,542

3,271,000

(a) Fifth

Third

Bancorp

.500

N/A

3,230,012

2,224,000

(a),(c)

Fifth

Third

Bancorp

(TSFR3M

+

3.295%)

.594

N/A

2,177,494

7,070,000

(a),(c)

First

Citizens

BancShares

Inc/NC

(TSFR3M

+

4.234%)

.533

N/A

7,176,474

7,400,000

(a) Huntington

Bancshares

Inc/OH

.625

N/A

7,279,163

7,763,000

(a) JPMorgan

Chase

&

Co

.500

N/A

7,757,207

17,767,000

(a) JPMorgan

Chase

&

Co

.875

N/A

18,301,700

1,755,000

(a) KeyCorp

.000

N/A

1,696,239

6,000,000

(a) M&T

Bank

Corp

.125

N/A

5,810,582

6,990,000

(a) PNC

Financial

Services

Group

Inc/The

.200

N/A

6,985,394

2,445,000

(a) PNC

Financial

Services

Group

Inc/The

.000

N/A

2,418,247

5,735,000

(a) PNC

Financial

Services

Group

Inc/The

.250

N/A

5,642,352

2,470,000

(a) Regions

Financial

Corp

.750

N/A

2,460,648

3,495,000

Toronto-Dominion

Bank/The

.125

10/31/82

3,612,380

13,209,000

(a) Truist

Financial

Corp

.669

N/A

12,974,042

3,195,000

(a) Truist

Financial

Corp

.100

N/A

3,059,055

5,000,000

(a) US

Bancorp

.300

N/A

4,861,084

12,874,000

(a) Wells

Fargo

&

Co

.850

N/A

13,014,430

12,345,000

(a) Wells

Fargo

&

Co

.625

N/A

12,995,767

TOTAL

BANKS

185,195,899

CAPITAL

GOODS

-

2.6%

(1.7%

of

Total

Investments)

4,101,000

(a) Air

Lease

Corp

.000

N/A

3,838,488

2,841,000

(a) Air

Lease

Corp

.650

N/A

2,751,437

2,897,000

(a) Air

Lease

Corp

.125

N/A

2,671,039

3,673,000

(d) ILFC

E-Capital

Trust

I

.117

12/21/65

2,962,415

TOTAL

CAPITAL

GOODS

12,223,379

ENERGY

-

10.9%

(6.9%

of

Total

Investments)

8,546,000

(b) Enbridge

Inc

.500

07/15/77

8,175,493

6,360,000

Enbridge

Inc

.625

01/15/83

6,487,073

8,696,000

Enbridge

Inc

.500

01/15/84

9,373,331

4,279,000

(a) Energy

Transfer

LP

.125

N/A

4,216,777

761,000

(a) Energy

Transfer

LP

.625

N/A

730,573

2,345,000

(a) Energy

Transfer

LP

.500

N/A

2,328,804

4,570,000

Energy

Transfer

LP

.000

05/15/54

4,743,386

3,554,000

(d) South

Bow

Canadian

Infrastructure

Holdings

Ltd

.500

03/01/55

3,493,301

5,600,000

TransCanada

PipeLines

Ltd

.590

05/15/67

4,885,898

1,500,000

Transcanada

Trust

.875

08/15/76

1,478,149

1,460,000

Transcanada

Trust

.500

09/15/79

1,385,078

2,155,000

Transcanada

Trust

.600

03/07/82

1,988,384

#### Portfolio

#### of

#### Investments

#### April

#### 30,

#### 2025
(continued)

#### NPFD

PRINCIPAL/

SHARES

DESCRIPTION

RATE

MATURITY

VALUE

ENERGY

(continued)

$

2,094,000

(a),(d)

Venture

Global

LNG

Inc

.000

%

N/A

$

1,799,866

TOTAL

ENERGY

51,086,113

FINANCIAL

SERVICES

-

17.4%

(11.2%

of

Total

Investments)

3,350,000

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

.950

03/10/55

3,363,926

3,200,000

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

.500

01/31/56

3,107,498

2,320,000

(a) Ally

Financial

Inc

.700

N/A

2,131,373

4,200,000

(a) Ally

Financial

Inc

.700

N/A

3,553,789

3,250,000

(a),(d)

Capital

Farm

Credit

ACA

.000

N/A

3,152,501

1,845,000

(a) Capital

One

Financial

Corp

.950

N/A

1,752,418

3,500,000

(a) Charles

Schwab

Corp/The

.000

N/A

3,389,360

10,128,000

(a) Charles

Schwab

Corp/The

.375

N/A

10,094,446

350,000

(a),(d)

Compeer

Financial

ACA

.875

N/A

332,500

3,690,000

(a) Discover

Financial

Services

.500

N/A

3,526,451

1,187,000

(a) Discover

Financial

Services

.125

N/A

1,184,850

5,249,000

(a) Goldman

Sachs

Group

Inc/The

.125

N/A

4,948,926

5,784,000

(a) Goldman

Sachs

Group

Inc/The

.850

N/A

5,704,555

9,875,000

(a) Goldman

Sachs

Group

Inc/The

.379

N/A

9,896,291

11,071,000

(a) Goldman

Sachs

Group

Inc/The

.500

N/A

11,289,796

5,140,000

(a) Goldman

Sachs

Group

Inc/The

.500

N/A

5,322,120

4,250,000

(a) State

Street

Corp

.700

N/A

4,265,003

4,352,000

(a) Voya

Financial

Inc

.758

N/A

4,413,168

TOTAL

FINANCIAL

SERVICES

81,428,971

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

0.6%

(0.3%

of

Total

Investments)

1,381,000

CVS

Health

Corp

.750

12/10/54

1,371,701

1,174,000

CVS

Health

Corp

.000

03/10/55

1,187,558

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

2,559,259

INSURANCE

-

14.7%

(9.4%

of

Total

Investments)

2,595,000

Aegon

Ltd

.500

04/11/48

2,575,053

2,250,000

(b) American

International

Group

Inc

.750

04/01/48

2,217,453

8,045,000

(b) Assurant

Inc

.000

03/27/48

8,006,193

3,000,000

(d) Assured

Guaranty

Municipal

Holdings

Inc

.400

12/15/66

2,760,942

3,050,000

(b) AXIS

Specialty

Finance

LLC

.900

01/15/40

2,900,763

3,982,000

Corebridge

Financial

Inc

.375

09/15/54

3,836,328

6,115,000

Enstar

Finance

LLC

.500

01/15/42

5,866,298

2,061,000

(d) Enstar

Group

Ltd

.500

04/01/45

2,066,709

2,000,000

MetLife

Inc

.750

08/01/39

2,605,488

4,495,000

(a) MetLife

Inc

.875

N/A

4,548,284

2,518,000

MetLife

Inc

.350

03/15/55

2,501,368

6,688,000

Prudential

Financial

Inc

.500

03/15/54

6,708,994

3,395,000

Prudential

Financial

Inc

.125

03/01/52

3,190,732

3,248,000

(b) Prudential

Financial

Inc

.750

03/01/53

3,334,173

13,500,000

(a),(d)

SBL

Holdings

Inc

.000

N/A

12,751,961

3,415,000

(a),(d)

SBL

Holdings

Inc

.500

N/A

2,988,469

TOTAL

INSURANCE

68,859,208

MEDIA

&

ENTERTAINMENT

-

1.1%

(0.7%

of

Total

Investments)

2,566,000

(a),(d)

Farm

Credit

Bank

of

Texas

.750

N/A

2,658,843

2,375,000

Paramount

Global

.375

03/30/62

2,284,573

TOTAL

MEDIA

&

ENTERTAINMENT

4,943,416

TELECOMMUNICATION

SERVICES

-

3.8%

(2.4%

of

Total

Investments)

3,791,000

Bell

Telephone

Co

of

Canada

or

Bell

Canada

.000

09/15/55

3,761,965

3,941,000

Rogers

Communications

Inc

.125

04/15/55

3,926,712

10,000,000

Vodafone

Group

PLC

.000

04/04/79

10,274,487

TOTAL

TELECOMMUNICATION

SERVICES

17,963,164

UTILITIES

-

14.5%

(9.2%

of

Total

Investments)

1,300,000

(d) AES

Andes

SA

.150

06/10/55

1,324,699

1,635,000

AES

Corp/The

.600

01/15/55

1,615,483

1,302,000

(d) AltaGas

Ltd

.200

10/15/54

1,271,554

3,416,000

CMS

Energy

Corp

.500

06/01/55

3,330,398

3,000,000

Dominion

Energy

Inc

.625

05/15/55

2,949,567

3,593,000

Dominion

Energy

Inc

.000

06/01/54

3,730,447

PRINCIPAL/

SHARES

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

3,539,000

Duke

Energy

Corp

.450

%

09/01/54

$

3,546,439

1,445,000

(a) Edison

International

.375

N/A

1,354,389

3,910,000

(a) Edison

International

.000

N/A

3,458,963

1,529,000

Edison

International

.875

06/15/54

1,431,610

2,404,000

Edison

International

.125

06/15/53

2,288,952

12,143,000

(b) Emera

Inc

.750

06/15/76

12,159,436

4,322,000

(b) Entergy

Corp

.125

12/01/54

4,345,490

2,713,000

EUSHI

Finance

Inc

.625

12/15/54

2,725,092

6,174,000

(b) NextEra

Energy

Capital

Holdings

Inc

.750

06/15/54

6,236,894

1,925,000

PG&E

Corp

.375

03/15/55

1,868,771

6,476,000

Sempra

.550

04/01/55

5,896,911

4,398,000

(a),(d)

Vistra

Corp

.875

N/A

4,627,693

2,215,000

(a),(d)

Vistra

Corp

.000

N/A

2,236,918

1,560,000

(a),(d)

Vistra

Corp

.000

N/A

1,594,410

TOTAL

UTILITIES

67,994,116

TOTAL

$1,000

PAR

(OR

SIMILAR)

INSTITUTIONAL

PREFERRED

(Cost

$528,612,403)

509,709,730

SHARES

DESCRIPTION

RATE

VALUE

69565525

$25

PAR

(OR

SIMILAR)

RETAIL

PREFERRED

-

.8

%

(9

.5

%

of

Total

Investments)

69565525

BANKS

-

3.3%

(2.1%

of

Total

Investments)

121,601

Fifth

Third

Bancorp

.296

3,105,690

62,700

KeyCorp

.125

1,583,802

297,600

KeyCorp

.200

7,300,128

163,723

Regions

Financial

Corp

.700

3,768,903

TOTAL

BANKS

15,758,523

CAPITAL

GOODS

-

0.7%

(0.5%

of

Total

Investments)

132,300

WESCO

International

Inc

.625

3,364,389

TOTAL

CAPITAL

GOODS

3,364,389

FINANCIAL

SERVICES

-

2.6%

(1.7%

of

Total

Investments)

139,125

Bank

of

New

York

Mellon

Corp/The

.150

3,494,820

143,950

Morgan

Stanley

.625

3,618,903

211,000

Voya

Financial

Inc

.350

5,120,970

TOTAL

FINANCIAL

SERVICES

12,234,693

FOOD,

BEVERAGE

&

TOBACCO

-

2.0%

(1.3%

of

Total

Investments)

237,055

CHS

Inc

.100

5,985,639

115,393

CHS

Inc

.750

2,823,666

4,400

(d) Dairy

Farmers

of

America

Inc

.875

419,100

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

9,228,405

INSURANCE

-

6.2%

(3.9%

of

Total

Investments)

160,150

American

National

Group

Inc

.625

4,029,374

185,450

American

National

Group

Inc

.375

4,621,414

59,425

Aspen

Insurance

Holdings

Ltd

.125

1,401,242

157,150

Athene

Holding

Ltd

.375

3,936,607

194,775

Athene

Holding

Ltd

.350

4,565,526

131,900

Enstar

Group

Ltd

.000

2,812,108

210,800

Reinsurance

Group

of

America

Inc

.750

5,217,300

93,300

Reinsurance

Group

of

America

Inc

.125

2,395,944

TOTAL

INSURANCE

28,979,515

TOTAL

$25

PAR

(OR

SIMILAR)

RETAIL

PREFERRED

(Cost

$76,784,358)

69,565,525

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

143628560

CORPORATE

BONDS

-

.7

%

(19

.5

%

of

Total

Investments)

143628560

BANKS

-

24.3%

(15.5%

of

Total

Investments)

1,400,000

(a),(e)

Banco

Bilbao

Vizcaya

Argentaria

SA

.750

N/A

1,370,098

3,075,000

(a),(e)

Banco

Bilbao

Vizcaya

Argentaria

SA

.375

N/A

3,311,784

2,495,000

(a),(e)

Banco

Bilbao

Vizcaya

Argentaria

SA

.125

N/A

2,398,019

1,940,000

(a),(d),(e)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

.750

N/A

1,934,456

#### Portfolio

#### of

#### Investments

#### April

#### 30,

#### 2025
(continued)

#### NPFD

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

BANKS

(continued)

$

715,000

(a),(d),(e)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

.500

%

N/A

$

698,768

1,595,000

(a),(d),(e)

Banco

Mercantil

del

Norte

SA/Grand

Cayman

.625

N/A

1,578,297

6,800,000

(a),(e)

Banco

Santander

SA

.625

N/A

7,681,899

3,200,000

(a),(e)

Banco

Santander

SA

.000

N/A

3,269,710

1,960,000

(a),(e)

Barclays

PLC

.125

N/A

1,948,553

3,510,000

(a),(e)

Barclays

PLC

.000

N/A

3,585,882

3,083,000

(a),(e)

Barclays

PLC

.625

N/A

3,365,588

977,000

(a),(e)

Barclays

PLC

.625

N/A

934,645

1,997,000

(a),(d),(e)

BNP

Paribas

SA

.375

N/A

1,973,732

2,430,000

(a),(d),(e)

BNP

Paribas

SA

.500

N/A

2,532,748

2,150,000

(a),(d),(e)

BNP

Paribas

SA

.250

N/A

2,262,103

4,801,000

(a),(d),(e)

BNP

Paribas

SA

.750

N/A

4,934,895

1,513,000

(a),(d),(e)

BNP

Paribas

SA

.000

N/A

1,513,268

3,770,000

(a),(d),(e)

BNP

Paribas

SA

.000

N/A

3,892,559

5,240,000

(a),(d),(e)

Credit

Agricole

SA

.125

N/A

5,304,672

4,941,000

(a),(d),(e)

Credit

Agricole

SA

.700

N/A

4,678,720

1,171,000

(a),(e)

HSBC

Holdings

PLC

.950

N/A

1,146,533

4,539,000

(a),(e)

HSBC

Holdings

PLC

.950

N/A

4,425,370

3,763,000

(a),(e)

HSBC

Holdings

PLC

.875

N/A

3,731,830

4,560,000

(a),(e)

HSBC

Holdings

PLC

.000

N/A

4,736,043

975,000

(a),(e)

HSBC

Holdings

PLC

.500

N/A

968,210

335,000

(a),(e)

ING

Groep

NV

.750

N/A

329,524

6,795,000

(a),(e)

ING

Groep

NV,

Reg

S

.500

N/A

6,879,938

4,413,000

(a),(d),(e)

Intesa

Sanpaolo

SpA

.700

N/A

4,426,734

784,000

(a),(e)

Lloyds

Banking

Group

PLC

.750

N/A

734,513

6,996,000

(a),(e)

Lloyds

Banking

Group

PLC

.000

N/A

7,172,019

1,500,000

(a),(d),(e)

Macquarie

Bank

Ltd/London

.125

N/A

1,492,681

1,625,000

(a),(e)

NatWest

Group

PLC

.000

N/A

1,629,300

1,370,000

(a),(e)

NatWest

Group

PLC

.300

N/A

1,317,230

4,400,000

(a),(e)

NatWest

Group

PLC

.125

N/A

4,544,052

1,559,000

(a),(d),(e)

Nordea

Bank

Abp

.625

N/A

1,559,402

1,589,000

(a),(d),(e)

Nordea

Bank

Abp

.300

N/A

1,513,726

3,631,000

(a),(d),(e)

Societe

Generale

SA

.000

N/A

3,904,462

1,680,000

(a),(d),(e)

Societe

Generale

SA

.375

N/A

1,757,340

770,000

(a),(d),(e)

Societe

Generale

SA

.500

N/A

776,982

1,700,000

(a),(d),(e)

Standard

Chartered

PLC

.750

N/A

1,729,543

TOTAL

BANKS

113,945,828

FINANCIAL

SERVICES

-

5.8%

(3.6%

of

Total

Investments)

3,325,000

(f) Credit

Suisse

Group

AG

.500

01/17/72

374,062

9,004,000

(f) Credit

Suisse

Group

AG

.000

01/17/72

1,012,950

5,850,000

(f) Credit

Suisse

Group

AG

.380

02/21/72

658,125

2,460,000

(f) Credit

Suisse

Group

AG

.500

06/11/72

276,750

4,290,000

(a),(e)

Deutsche

Bank

AG

.000

N/A

4,201,356

2,000,000

(a),(e)

Deutsche

Bank

AG,

Reg

S

.789

N/A

1,980,000

6,872,000

(a),(e)

UBS

Group

AG,

Reg

S

.875

N/A

6,872,000

3,853,000

(a),(d),(e)

UBS

Group

AG

.250

N/A

4,306,845

4,325,000

(a),(d),(e)

UBS

Group

AG

.250

N/A

4,673,128

2,465,000

(a),(d),(e)

UBS

Group

AG

.750

N/A

2,521,799

TOTAL

FINANCIAL

SERVICES

26,877,015

INSURANCE

-

0.6%

(0.4%

of

Total

Investments)

2,755,000

(a),(e)

Phoenix

Group

Holdings

PLC,

Reg

S

.500

N/A

2,805,717

TOTAL

INSURANCE

2,805,717

TOTAL

CORPORATE

BONDS

(Cost

$164,169,943)

143,628,560

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

11940326

U.S.

GOVERNMENT

AND

AGENCY

OBLIGATIONS

-

.5

%

(1

.6

%

of

Total

Investments)

11940326

6,050,000

CoBank

ACB

.450

01/01/74

6,018,268

2,062,000

CoBank

ACB

.250

07/01/73

2,063,390

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

Part

F

of

Form

N-PORT

was

prepared

in

accordance

with

U.S.

generally

accepted

accounting

principles

("U.S.

GAAP")

and

in

conformity

with

the

applicable

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission

("SEC")

related

to

interim

filings.

Part

F

of

Form

N-PORT

does

not

include

all

information

and

footnotes

required

by

U.S.

GAAP

for

complete

financial

statements.

Certain

footnote

disclosures

normally

included

in

financial

statements

prepared

in

accordance

with

U.S.

GAAP

have

been

condensed

or

omitted

from

this

report

pursuant

to

the

rules

of

the

SEC.

For

a

full

set

of

the

Fund's

notes

to

financial

statements,

please

refer

to

the

Fund's

most

recently

filed

annual

or

semi-annual

report.

Fair

Value

Measurements

The

Fund's

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Board

of

Directors/

Trustees.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management's

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management's

assumptions

in

determining

the

fair

value

of

investments).

The

following

table

summarizes

the

market

value

of

the

Fund's

investments

as

of

the

end

of

the

reporting

period,

based

on

the

inputs

used

to

value

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

$

3,785,000

CoBank

ACB

.125

%

01/01/74

$

3,858,668

TOTAL

U.S.

GOVERNMENT

AND

AGENCY

OBLIGATIONS

(Cost

$11,923,028)

11,940,326

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$781,489,732)

734,844,141

BORROWINGS

-

(33.6)%

(g),(h)

(157,314,000)

REVERSE

REPURCHASE

AGREEMENTS,

INCLUDING

ACCRUED

INTEREST

-

(5.9)%(i)

(27,810,230)

TFP

SHARES,

NET

-

(18.0)%(j)

(84,537,128)

OTHER

ASSETS

&

LIABILITIES,

NET

- 0.7%

3,324,082

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

468,506,865

Reg

S

Regulation

S

allows

U.S.

companies

to

sell

securities

to

persons

or

entities

located

outside

of

the

United

States

without

registering

those

securities

with

the

Securities

and

Exchange

Commission.

Specifically,

Regulation

S

provides

a

safe

harbor

from

the

registration

requirements

of

the

Securities

Act

for

the

offers

and

sales

of

securities

by

both

foreign

and

domestic

issuers

that

are

made

outside

the

United

States.

TSFR3M

CME

Term

Secured

Overnight

Financing

Rate

Month

(a) Perpetual

security.

Maturity

date

is

not

applicable.

(b) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

reverse

repurchase

agreements.

As

of

the

end

of

the

reporting

period,

investments

with

a

value

of

$37,737,748

have

been

pledged

as

collateral

for

reverse

repurchase

agreements.

(c) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(d) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$106,507,158

or

14.5%

of

Total

Investments.

(e) Contingent

Capital

Securities

("CoCos")

are

debt

or

preferred

securities

with

loss

absorption

characteristics

built

into

the

terms

of

the

security

for

the

benefit

of

the

issuer,

for

example

an

automatic

write-down

of

principal

or

a

mandatory

conversion

into

the

issuer's

common

stock

under

certain

adverse

circumstances,

such

as

the

issuer's

capital

ratio

falling

below

a

specified

level.

As

of

the

end

of

the

reporting

period,

the

Fund's

total

investment

in

CoCos

was

19.2%

of

Total

Investments.

(f) For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. (g) Borrowings

as

a

percentage

of

Total

Investments

is

21.4%.

(h) The

Fund

may

pledge

up

to

100%

of

its

eligible

investments

(excluding

any

investments

separately

pledged

as

collateral

for

specific

investments

in

derivatives,

when

applicable)

in

the

Portfolio

of

Investments

as

collateral

for

borrowings.

As

of

the

end

of

the

reporting

period,

investments

with

a

value

of

$383,077,181

have

been

pledged

as

collateral

for

borrowings.

(i) Reverse

Repurchase

Agreements,

including

accrued

interest

as

a

percentage

of

Total

investments

is

3.8%.

(j) TFP

Shares,

Net

as

a

percentage

of

Total

Investments

is

11.5%.

#### Portfolio

#### of

#### Investments

#### April

#### 30,

#### 2025
(continued)

#### NPFD

NPFD

Level

Level

Level

Total

Long-Term

Investments:

$1,000

Par

(or

similar)

Institutional

Preferred

$

–

$

509,709,730

$

–

$

509,709,730

$25

Par

(or

similar)

Retail

Preferred

69,565,525

–

–

69,565,525

Corporate

Bonds

–

141,306,673

2,321,887

143,628,560

U.S.

Government

and

Agency

Obligations

–

11,940,326

–

11,940,326

Total

$

69,565,525

$

662,956,729

$

2,321,887

$

734,844,141

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Nuveen Variable Rate Preferred & Income Fund

- **b. Investment Company Act file number:** 811-23704

- **c. CIK number of Registrant:** 0001865389

- **d. LEI of Registrant:** 549300B5AMVHD58MNL94

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 333 W. Wacker Dr

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-917-7700

**Item A.2. Information about the Series.**

- **a. Name of Series:** Nuveen Variable Rate Preferred & Income Fund

- **c. LEI of Series:** 549300B5AMVHD58MNL94

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $716449547.00

**Total Liabilities:** $247942682.00

**Net Assets:** $468506865.00

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -8127.34000000 | **30-Year:** -261594.32000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -1881.47000000 | **30-Year:** -210038.41000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.13%                | -0.51%               | -1.62%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1021512.64             | $3940139.63                                |
| Month 2  | $-1224301.55             | $-4130673.93                               |
| Month 3  | $-1610453.48             | $-8175906.20                               |

### Schedule of Portfolio Investments

| Name                                                      | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| CVS Health Corp                                           | CVS Health Corp                                           | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1381000 | PA      | $1371700.93   | 0.29%             | 2054-12-10      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| BARCLAYS PLC                                              | Barclays PLC                                              | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3510000 | PA      | $3585882.41   | 0.77%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| Athene Holding Ltd                                        | Athene Holding Ltd                                        | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |    194775 | NS      | $4565526.00   | 0.97%             |  |  |  | No            | 1                  | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | Truist Financial Corp                                     | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |  13209000 | PA      | $12974042.01  | 2.77%             | N/A             | Fixed         | 6.67%                 | No            | 2                  | On Loan: No      |
| CHARLES SCHWAB CORP                                       | Charles Schwab Corp/The                                   | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  10128000 | PA      | $10094445.94  | 2.15%             | N/A             | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| Enstar Group Ltd                                          | Enstar Group Ltd                                          | CUSIP: 29359U109<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EP               | CORP              | BM        |    131900 | NS      | $2812108.00   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Phoenix Group Holdings PLC                                | Phoenix Group Holdings PLC                                | CUSIP: YX5563508<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |   2755000 | PA      | $2805716.80   | 0.60%             | N/A             | Fixed         | 8.50%                 | No            | 2                  | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                        | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |   2998000 | PA      | $2890698.28   | 0.62%             | 2085-01-28      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280EV7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1171000 | PA      | $1146533.08   | 0.24%             | N/A             | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| EUSHI Finance Inc                                         | EUSHI Finance Inc                                         | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2713000 | PA      | $2725091.84   | 0.58%             | 2054-12-15      | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| Enstar Group Ltd                                          | Enstar Group Ltd                                          | CUSIP: 29359UAD1<br>LEI: 213800AMAL5QFXVUCN04 | Long             | DBT              | CORP              | BM        |   2061000 | PA      | $2066708.97   | 0.44%             | 2045-04-01      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280EH8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3763000 | PA      | $3731830.32   | 0.80%             | N/A             | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| Edison International                                      | Edison International                                      | CUSIP: 281020AZ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   1529000 | PA      | $1431609.58   | 0.31%             | 2054-06-15      | Fixed         | 7.88%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5249000 | PA      | $4948926.22   | 1.06%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS                                               | BNP Paribas SA                                            | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2150000 | PA      | $2262103.15   | 0.48%             | N/A             | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| CMS Energy Corp                                           | CMS Energy Corp                                           | CUSIP: 125896BY5<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   3416000 | PA      | $3330398.46   | 0.71%             | 2055-06-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Bell Telephone Co of Canada or Bell Canada                | Bell Telephone Co of Canada or Bell Canada                | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |   3791000 | PA      | $3761965.49   | 0.80%             | 2055-09-15      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Prudential Financial Inc                                  | Prudential Financial Inc                                  | CUSIP: 744320BP6<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   6688000 | PA      | $6708994.43   | 1.43%             | 2054-03-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| TRANSCANADA TRUST                                         | Transcanada Trust                                         | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   1500000 | PA      | $1478148.60   | 0.32%             | 2076-08-15      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| Bank of Nova Scotia/The                                   | Bank of Nova Scotia/The                                   | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |   3090000 | PA      | $3161712.72   | 0.67%             | 2084-01-27      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                  | Prudential Financial Inc                                  | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3395000 | PA      | $3190732.36   | 0.68%             | 2052-03-01      | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| WESCO International Inc                                   | WESCO International Inc                                   | CUSIP: 95082P303<br>LEI: 529900TXOGREY3WNJ434 | Long             | EP               | CORP              | US        |    132300 | NS      | $3364389.00   | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase & Co                                       | JPMorgan Chase & Co                                       | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   7763000 | PA      | $7757206.86   | 1.66%             | N/A             | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| HSBC Holdings PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280EJ4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4539000 | PA      | $4425369.77   | 0.94%             | N/A             | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| Credit Suisse Group AG                                    | Credit Suisse Group AG                                    | CUSIP: 902LWB004<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   5850000 | PA      | $658125.00    | 0.14%             | 2172-02-21      | Fixed         | 6.38%                 | No            | 3                  | On Loan: No      |
| CITIGROUP INC                                             | Citigroup Inc                                             | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1670526.00   | 0.36%             | N/A             | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   4325000 | PA      | $4673127.90   | 1.00%             | N/A             | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| Aspen Insurance Holdings Ltd                              | Aspen Insurance Holdings Ltd                              | CUSIP: EP0607309<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |     59425 | NS      | $1401241.50   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| ALLY FINANCIAL INC                                        | Ally Financial Inc                                        | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   2320000 | PA      | $2131373.10   | 0.45%             | N/A             | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| STANDARD CHARTERED PLC                                    | Standard Chartered PLC                                    | CUSIP: 853254CM0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1700000 | PA      | $1729542.60   | 0.37%             | N/A             | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO & COMPANY                                     | Wells Fargo & Co                                          | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  12345000 | PA      | $12995766.68  | 2.77%             | N/A             | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| UBS GROUP AG                                              | UBS Group AG                                              | CUSIP: UV4180070<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   6872000 | PA      | $6872000.00   | 1.47%             | N/A             | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| METLIFE INC                                               | MetLife Inc                                               | CUSIP: 59156RAV0<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2605488.00   | 0.56%             | 2039-08-01      | Fixed         | 10.75%                | No            | 2                  | On Loan: No      |
| INTESA SANPAOLO SPA                                       | Intesa Sanpaolo SpA                                       | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   4413000 | PA      | $4426734.32   | 0.94%             | N/A             | Fixed         | 7.70%                 | Yes           | 2                  | On Loan: No      |
| Reinsurance Group of America Inc                          | Reinsurance Group of America Inc                          | CUSIP: 759351802<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |    210800 | NS      | $5217300.00   | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| VODAFONE GROUP PLC                                        | Vodafone Group PLC                                        | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10274487.50  | 2.19%             | 2079-04-04      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Credit Suisse Group AG                                    | Credit Suisse Group AG                                    | CUSIP: 902LWC002<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   2460000 | PA      | $276750.00    | 0.06%             | 2172-06-11      | Fixed         | 7.50%                 | No            | 3                  | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   6800000 | PA      | $7681898.80   | 1.64%             | N/A             | Fixed         | 9.62%                 | No            | 2                  | On Loan: No      |
| AltaGas Ltd                                               | AltaGas Ltd                                               | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |   1302000 | PA      | $1271554.55   | 0.27%             | 2054-10-15      | Fixed         | 7.20%                 | Yes           | 2                  | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                  | Banco Mercantil del Norte SA/Grand Cayman                 | CUSIP: 05962GAJ8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   1595000 | PA      | $1578296.84   | 0.34%             | N/A             | Fixed         | 7.62%                 | Yes           | 2                  | On Loan: No      |
| ASSURANT INC                                              | Assurant Inc                                              | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |   8045000 | PA      | $8006193.09   | 1.71%             | 2048-03-27      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| ING GROEP NV                                              | ING Groep NV                                              | CUSIP: 456837AR4<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    335000 | PA      | $329524.22    | 0.07%             | N/A             | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Bank of New York Mellon Corp/The                          | Bank of New York Mellon Corp/The                          | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |    139125 | NS      | $3494820.00   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Lloyds Banking Group PLC                                  | Lloyds Banking Group PLC                                  | CUSIP: 53944YBB8<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    784000 | PA      | $734513.29    | 0.16%             | N/A             | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| AES Andes SA                                              | AES Andes SA                                              | CUSIP: 00111VAC1<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |   1300000 | PA      | $1324698.70   | 0.28%             | 2055-06-10      | Fixed         | 8.15%                 | Yes           | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                   | Goldman Sachs Group Inc/The                               | CUSIP: 38141GA38<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5140000 | PA      | $5322120.48   | 1.14%             | N/A             | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| NatWest Group PLC                                         | NatWest Group PLC                                         | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   4400000 | PA      | $4544051.60   | 0.97%             | N/A             | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                                      | Bank of America Corp                                      | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4947976.50   | 1.06%             | N/A             | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| AMERICAN INTL GROUP                                       | American International Group Inc                          | CUSIP: 026874DM6<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2217453.30   | 0.47%             | 2048-04-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| NextEra Energy Capital Holdings Inc                       | NextEra Energy Capital Holdings Inc                       | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   6174000 | PA      | $6236893.55   | 1.33%             | 2054-06-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| Corebridge Financial Inc                                  | Corebridge Financial Inc                                  | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   3982000 | PA      | $3836327.69   | 0.82%             | 2054-09-15      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5784000 | PA      | $5704555.26   | 1.22%             | N/A             | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                          | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   3782000 | PA      | $3718447.65   | 0.79%             | 2084-11-26      | Fixed         | 7.30%                 | No            | 2                  | On Loan: No      |
| DEUTSCHE BANK AG                                          | Deutsche Bank AG                                          | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   4290000 | PA      | $4201356.16   | 0.90%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 06738EDC6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    977000 | PA      | $934644.80    | 0.20%             | N/A             | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| SOCIETE GENERALE                                          | Societe Generale SA                                       | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1680000 | PA      | $1757340.11   | 0.38%             | N/A             | Fixed         | 9.38%                 | Yes           | 2                  | On Loan: No      |
| CoBank ACB                                                | CoBank ACB                                                | CUSIP: 19075QAG7<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | CORP              | US        |   3785000 | PA      | $3858667.46   | 0.82%             | N/A             | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| State Street Corp                                         | State Street Corp                                         | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $4265002.50   | 0.91%             | N/A             | Fixed         | 6.70%                 | No            | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                                        | Ally Financial Inc                                        | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $3553789.26   | 0.76%             | N/A             | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| Voya Financial Inc                                        | Voya Financial Inc                                        | CUSIP: 929089209<br>LEI: 549300T065Z4KJ686G75 | Long             | EP               | CORP              | US        |    211000 | NS      | $5120970.00   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| CoBank ACB                                                | CoBank ACB                                                | CUSIP: 19075QAF9<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | CORP              | US        |   2062000 | PA      | $2063389.79   | 0.44%             | N/A             | Fixed         | 7.25%                 | No            | 2                  | On Loan: No      |
| Vistra Corp                                               | Vistra Corp                                               | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   4398000 | PA      | $4627692.98   | 0.99%             | N/A             | Fixed         | 8.88%                 | Yes           | 2                  | On Loan: No      |
| TRANSCANADA PIPELINES                                     | TransCanada PipeLines Ltd                                 | CUSIP: 89352HAC3<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |   5600000 | PA      | $4885898.02   | 1.04%             | 2067-05-15      | Fixed         | 7.59%                 | No            | 2                  | On Loan: No      |
| Dominion Energy Inc                                       | Dominion Energy Inc                                       | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2949567.00   | 0.63%             | 2055-05-15      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| KeyCorp                                                   | KeyCorp                                                   | CUSIP: 493267843<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |    297600 | NS      | $7300128.00   | 1.56%             |  |  |  | No            | 1                  | On Loan: No      |
| AIR LEASE CORP                                            | Air Lease Corp                                            | CUSIP: 00912XBK9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2897000 | PA      | $2671039.21   | 0.57%             | N/A             | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| ENSTAR FINANCE LLC                                        | Enstar Finance LLC                                        | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6115000 | PA      | $5866298.06   | 1.25%             | 2042-01-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Duke Energy Corp                                          | Duke Energy Corp                                          | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   3539000 | PA      | $3546438.98   | 0.76%             | 2054-09-01      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| American National Group Inc                               | American National Group Inc                               | CUSIP: 025676867<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    160150 | NS      | $4029374.00   | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| COBANK ACB                                                | CoBank ACB                                                | CUSIP: 19075QAE2<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | CORP              | US        |   6050000 | PA      | $6018268.36   | 1.28%             | N/A             | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| PNC FINANCIAL SERVICES                                    | PNC Financial Services Group Inc/The                      | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2445000 | PA      | $2418247.05   | 0.52%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                  | Prudential Financial Inc                                  | CUSIP: 744320BL5<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3248000 | PA      | $3334172.69   | 0.71%             | 2053-03-01      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| Credit Suisse Group AG                                    | Credit Suisse Group AG                                    | CUSIP: 902MMW908<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   3325000 | PA      | $374062.50    | 0.08%             | 2172-01-17      | Fixed         | 7.50%                 | No            | 3                  | On Loan: No      |
| MetLife Inc                                               | MetLife Inc                                               | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   2518000 | PA      | $2501368.51   | 0.53%             | 2055-03-15      | Fixed         | 6.35%                 | No            | 2                  | On Loan: No      |
| AES Corp/The                                              | AES Corp/The                                              | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   1635000 | PA      | $1615482.51   | 0.34%             | 2055-01-15      | Fixed         | 7.60%                 | No            | 2                  | On Loan: No      |
| CHS Inc                                                   | CHS Inc                                                   | CUSIP: 12542R506<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    237055 | NS      | $5985638.75   | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| ILFC E-CAPITAL TRUST I                                    | ILFC E-Capital Trust I                                    | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3673000 | PA      | $2962415.18   | 0.63%             | 2065-12-21      | Fixed         | 6.12%                 | Yes           | 2                  | On Loan: No      |
| ASSURED GUARANTY MUNI                                     | Assured Guaranty Municipal Holdings Inc                   | CUSIP: 31769PAB6<br>LEI: 549300WKHOG7BKB8MS12 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2760941.55   | 0.59%             | 2066-12-15      | Fixed         | 6.40%                 | Yes           | 2                  | On Loan: No      |
| PNC FINANCIAL SERVICES                                    | PNC Financial Services Group Inc/The                      | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5735000 | PA      | $5642351.65   | 1.20%             | N/A             | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                                              | Enbridge Inc                                              | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   8546000 | PA      | $8175493.30   | 1.75%             | 2077-07-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                                              | Enbridge Inc                                              | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   6360000 | PA      | $6487072.80   | 1.38%             | 2083-01-15      | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                        | Energy Transfer LP                                        | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    761000 | PA      | $730573.24    | 0.16%             | N/A             | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| Banco Mercantil del Norte SA/Grand Cayman                 | Banco Mercantil del Norte SA/Grand Cayman                 | CUSIP: 05971PAE8<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |   1940000 | PA      | $1934456.26   | 0.41%             | N/A             | Fixed         | 8.75%                 | Yes           | 2                  | On Loan: No      |
| Rogers Communications Inc                                 | Rogers Communications Inc                                 | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   3941000 | PA      | $3926711.55   | 0.84%             | 2055-04-15      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280DT3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4560000 | PA      | $4736043.36   | 1.01%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                  | Banco Mercantil del Norte SA/Grand Cayman                 | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    715000 | PA      | $698768.36    | 0.15%             | N/A             | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| FIFTH THIRD BANCORP                                       | Fifth Third Bancorp                                       | CUSIP: 316773CM0<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   2224000 | PA      | $2177494.38   | 0.46%             | N/A             | Variable      | 7.59%                 | No            | 2                  | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   1400000 | PA      | $1370098.10   | 0.29%             | N/A             | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                   | Goldman Sachs Group Inc/The                               | CUSIP: 38148BAE8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   9875000 | PA      | $9896290.50   | 2.11%             | N/A             | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| SBL HOLDINGS INC                                          | SBL Holdings Inc                                          | CUSIP: 78397DAC2<br>LEI: 635400MJW3QDSBJRKQ59 | Long             | DBT              | CORP              | US        |   3415000 | PA      | $2988468.89   | 0.64%             | N/A             | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| Venture Global LNG Inc                                    | Venture Global LNG Inc                                    | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2094000 | PA      | $1799866.08   | 0.38%             | N/A             | Fixed         | 9.00%                 | Yes           | 2                  | On Loan: No      |
| NORDEA BANK ABP                                           | Nordea Bank Abp                                           | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   1559000 | PA      | $1559402.22   | 0.33%             | N/A             | Fixed         | 6.62%                 | Yes           | 2                  | On Loan: No      |
| FIRST CITIZENS BANCSHARE                                  | First Citizens BancShares Inc/NC                          | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   7070000 | PA      | $7176474.20   | 1.53%             | N/A             | Variable      | 8.53%                 | No            | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                                      | Edison International                                      | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1354389.25   | 0.29%             | N/A             | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| METLIFE INC                                               | MetLife Inc                                               | CUSIP: 59156RBT4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   4495000 | PA      | $4548283.73   | 0.97%             | N/A             | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                                      | Edison International                                      | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   2404000 | PA      | $2288952.35   | 0.49%             | 2053-06-15      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| NATWEST GROUP PLC                                         | NatWest Group PLC                                         | CUSIP: 780099CK1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1625000 | PA      | $1629299.75   | 0.35%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs Group Inc/The                               | Goldman Sachs Group Inc/The                               | CUSIP: 38141GA79<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  11071000 | PA      | $11289796.17  | 2.41%             | N/A             | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Farm Credit Bank of Texas                                 | Farm Credit Bank of Texas                                 | CUSIP: 30767EAE9<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |   2566000 | PA      | $2658843.01   | 0.57%             | N/A             | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                                      | Bank of America Corp                                      | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1776517.63   | 0.38%             | N/A             | Fixed         | 6.30%                 | No            | 2                  | On Loan: No      |
| Entergy Corp                                              | Entergy Corp                                              | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   4322000 | PA      | $4345490.07   | 0.93%             | 2054-12-01      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                  | Capital One Financial Corp                                | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1845000 | PA      | $1752417.35   | 0.37%             | N/A             | Fixed         | 3.95%                 | No            | 2                  | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 05946KAM3<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   3075000 | PA      | $3311784.23   | 0.71%             | N/A             | Fixed         | 9.38%                 | No            | 2                  | On Loan: No      |
| HUNTINGTON BANCSHARES                                     | Huntington Bancshares Inc/OH                              | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   7400000 | PA      | $7279163.33   | 1.55%             | N/A             | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| Energy Transfer LP                                        | Energy Transfer LP                                        | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4570000 | PA      | $4743385.80   | 1.01%             | 2054-05-15      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| MACQUARIE BANK LONDON                                     | Macquarie Bank Ltd/London                                 | CUSIP: 556079AB7<br>LEI: 549300MPRNPO6FWNKN78 | Long             | DBT              | CORP              | AU        |   1500000 | PA      | $1492681.35   | 0.32%             | N/A             | Fixed         | 6.12%                 | Yes           | 2                  | On Loan: No      |
| American National Group Inc                               | American National Group Inc                               | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    185450 | NS      | $4621414.00   | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3014000 | PA      | $2990320.60   | 0.64%             | N/A             | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                                             | Citigroup Inc                                             | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2875000 | PA      | $2883635.15   | 0.62%             | N/A             | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| M&T BANK CORPORATION                                      | M&T Bank Corp                                             | CUSIP: 55261FAH7<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5810581.80   | 1.24%             | N/A             | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| AEGON NV                                                  | Aegon Ltd                                                 | CUSIP: 007924AJ2<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | BM        |   2595000 | PA      | $2575052.75   | 0.55%             | 2048-04-11      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05602XJC3<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1997000 | PA      | $1973731.95   | 0.42%             | N/A             | Fixed         | 7.38%                 | Yes           | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                                         | HSBC Holdings PLC                                         | CUSIP: 404280BP3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    975000 | PA      | $968210.30    | 0.21%             | N/A             | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| NatWest Group PLC                                         | NatWest Group PLC                                         | CUSIP: 639057AT5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1370000 | PA      | $1317229.66   | 0.28%             | N/A             | Fixed         | 7.30%                 | No            | 2                  | On Loan: No      |
| PARAMOUNT GLOBAL                                          | Paramount Global                                          | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   2375000 | PA      | $2284573.06   | 0.49%             | 2062-03-30      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| Wells Fargo & Co                                          | Wells Fargo & Co                                          | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  12874000 | PA      | $13014430.11  | 2.78%             | N/A             | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                       | CUSIP: 83371GAA9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3631000 | PA      | $3904461.50   | 0.83%             | N/A             | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| VISTRA CORP                                               | Vistra Corp                                               | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2215000 | PA      | $2236918.24   | 0.48%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| GENERAL MOTORS FINL CO                                    | General Motors Financial Co Inc                           | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   8195000 | PA      | $7705692.12   | 1.64%             | N/A             | Fixed         | 5.70%                 | No            | 2                  | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                          | CUSIP: 06368LQ58<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1470000 | PA      | $1496326.23   | 0.32%             | 2084-05-26      | Fixed         | 7.70%                 | No            | 2                  | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 902613BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2465000 | PA      | $2521798.53   | 0.54%             | N/A             | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                       | CUSIP: 83370RAD0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    770000 | PA      | $776982.36    | 0.17%             | N/A             | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |
| CVS Health Corp                                           | CVS Health Corp                                           | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1174000 | PA      | $1187557.83   | 0.25%             | 2055-03-10      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| TRUIST FINANCIAL CORP                                     | Truist Financial Corp                                     | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   3195000 | PA      | $3059054.54   | 0.65%             | N/A             | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS                                               | BNP Paribas SA                                            | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   4801000 | PA      | $4934895.09   | 1.05%             | N/A             | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                      | CUSIP: 937JBD007<br>LEI: ES7IP3U3RHIGC71XBU11 | Short            | RA               | CORP              | CA        | -27592000 | PA      | $-27592000.00 | -5.89%            |  |  |  | No            | N/A                | On Loan: No      |
| EMERA INC                                                 | Emera Inc                                                 | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |  12143000 | PA      | $12159435.67  | 2.60%             | 2076-06-15      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| VOYA FINANCIAL INC                                        | Voya Financial Inc                                        | CUSIP: 929089AG5<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |   4352000 | PA      | $4413167.36   | 0.94%             | N/A             | Fixed         | 7.76%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                                        | Energy Transfer LP                                        | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4279000 | PA      | $4216776.49   | 0.90%             | N/A             | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| KeyCorp                                                   | KeyCorp                                                   | CUSIP: 493267702<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |     62700 | NS      | $1583802.00   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                              | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3853000 | PA      | $4306844.87   | 0.92%             | N/A             | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| JPMorgan Chase & Co                                       | JPMorgan Chase & Co                                       | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  17767000 | PA      | $18301699.82  | 3.91%             | N/A             | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  13100000 | PA      | $13451486.10  | 2.87%             | N/A             | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| TORONTO-DOMINION BANK                                     | Toronto-Dominion Bank/The                                 | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   3495000 | PA      | $3612379.58   | 0.77%             | 2082-10-31      | Fixed         | 8.12%                 | No            | 2                  | On Loan: No      |
| Credit Suisse Group AG                                    | Credit Suisse Group AG                                    | CUSIP: 902LUX008<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   9004000 | PA      | $1012950.00   | 0.22%             | 2172-01-17      | Fixed         | 0.00%                 | No            | 3                  | On Loan: No      |
| CREDIT AGRICOLE SA                                        | Credit Agricole SA                                        | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   5240000 | PA      | $5304672.08   | 1.13%             | N/A             | Fixed         | 8.12%                 | Yes           | 2                  | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MBQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3200000 | PA      | $3107498.27   | 0.66%             | 2056-01-31      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| GENERAL MOTORS FINL CO                                    | General Motors Financial Co Inc                           | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10476000 | PA      | $9750512.91   | 2.08%             | N/A             | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Fifth Third Bancorp                                       | Fifth Third Bancorp                                       | CUSIP: 316773605<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    121601 | NS      | $3105689.54   | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                  | Banco Bilbao Vizcaya Argentaria SA                        | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   2495000 | PA      | $2398018.53   | 0.51%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| ING Groep NV                                              | ING Groep NV                                              | CUSIP: ZM9188925<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   6795000 | PA      | $6879937.50   | 1.47%             | N/A             | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                            | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   3770000 | PA      | $3892558.93   | 0.83%             | N/A             | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| DISCOVER FINANCIAL SVS                                    | Discover Financial Services                               | CUSIP: 254709AN8<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   3690000 | PA      | $3526451.08   | 0.75%             | N/A             | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| SBL HOLDINGS INC                                          | SBL Holdings Inc                                          | CUSIP: 78397DAA6<br>LEI: 635400MJW3QDSBJRKQ59 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $12751960.95  | 2.72%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| Credit Agricole SA                                        | Credit Agricole SA                                        | CUSIP: 225313AR6<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   4941000 | PA      | $4678719.86   | 1.00%             | N/A             | Fixed         | 6.70%                 | Yes           | 2                  | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | AerCap Ireland Capital DAC / AerCap Global Aviation Trust | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3350000 | PA      | $3363925.95   | 0.72%             | 2055-03-10      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| Air Lease Corp                                            | Air Lease Corp                                            | CUSIP: 00912XBQ6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   4101000 | PA      | $3838488.02   | 0.82%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| BARCLAYS PLC                                              | Barclays PLC                                              | CUSIP: 06738EBN4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1960000 | PA      | $1948553.23   | 0.42%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| DEUTSCHE BANK AG                                          | Deutsche Bank AG                                          | CUSIP: EK2626407<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $1980000.00   | 0.42%             | N/A             | Fixed         | 4.79%                 | No            | 2                  | On Loan: No      |
| Barclays PLC                                              | Barclays PLC                                              | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3083000 | PA      | $3365587.78   | 0.72%             | N/A             | Fixed         | 9.62%                 | No            | 2                  | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                        | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3200000 | PA      | $3269709.60   | 0.70%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| Reinsurance Group of America Inc                          | Reinsurance Group of America Inc                          | CUSIP: 759351885<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |     93300 | NS      | $2395944.00   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| ENERGY TRANSFER LP                                        | Energy Transfer LP                                        | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2345000 | PA      | $2328804.26   | 0.50%             | N/A             | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                  | Lloyds Banking Group PLC                                  | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   6996000 | PA      | $7172019.36   | 1.53%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| Enbridge Inc                                              | Enbridge Inc                                              | CUSIP: 29250NBT1<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   8696000 | PA      | $9373331.44   | 2.00%             | 2084-01-15      | Fixed         | 8.50%                 | No            | 2                  | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd            | South Bow Canadian Infrastructure Holdings Ltd            | CUSIP: 836720AH5<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |   3554000 | PA      | $3493300.52   | 0.75%             | 2055-03-01      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| BNP PARIBAS                                               | BNP Paribas SA                                            | CUSIP: 05565AGF4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1513000 | PA      | $1513267.80   | 0.32%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| Athene Holding Ltd                                        | Athene Holding Ltd                                        | CUSIP: 04686J309<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |    157150 | NS      | $3936607.50   | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| PG&E Corp                                                 | PG&E Corp                                                 | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1868771.10   | 0.40%             | 2055-03-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| Nordea Bank Abp                                           | Nordea Bank Abp                                           | CUSIP: 65558RAK5<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   1589000 | PA      | $1513725.73   | 0.32%             | N/A             | Fixed         | 6.30%                 | Yes           | 2                  | On Loan: No      |
| Dominion Energy Inc                                       | Dominion Energy Inc                                       | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   3593000 | PA      | $3730446.62   | 0.80%             | 2054-06-01      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Regions Financial Corp                                    | Regions Financial Corp                                    | CUSIP: 7591EP704<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |    163723 | NS      | $3768903.46   | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP PARIBAS                                               | BNP Paribas SA                                            | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2430000 | PA      | $2532747.69   | 0.54%             | N/A             | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |
| COMPEER FINANCIAL ACA                                     | Compeer Financial ACA                                     | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | DBT              | CORP              | US        |    350000 | PA      | $332500.00    | 0.07%             | N/A             | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| Citigroup Inc                                             | Citigroup Inc                                             | CUSIP: 172967PK1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   5351000 | PA      | $5277453.72   | 1.13%             | N/A             | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| KEYCORP                                                   | KeyCorp                                                   | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   1755000 | PA      | $1696239.09   | 0.36%             | N/A             | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Dairy Farmers of America Inc                              | Dairy Farmers of America Inc                              | CUSIP: 23385H406<br>LEI: 1LTUIZEFFT7MUIERI838 | Long             | EP               | CORP              | US        |      4400 | NS      | $419100.00    | 0.09%             |  |  |  | Yes           | 1                  | On Loan: No      |
| US BANCORP                                                | US Bancorp                                                | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4861084.50   | 1.04%             | N/A             | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| Sempra                                                    | Sempra                                                    | CUSIP: 816851BV0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   6476000 | PA      | $5896911.48   | 1.26%             | 2055-04-01      | Fixed         | 6.55%                 | No            | 2                  | On Loan: No      |
| PNC FINANCIAL SERVICES                                    | PNC Financial Services Group Inc/The                      | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   6990000 | PA      | $6985394.29   | 1.49%             | N/A             | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| Bank of America Corp                                      | Bank of America Corp                                      | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  12981000 | PA      | $12986978.01  | 2.77%             | N/A             | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| DISCOVER FINANCIAL SVS                                    | Discover Financial Services                               | CUSIP: 254709AQ1<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   1187000 | PA      | $1184849.87   | 0.25%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| VISTRA CORP                                               | Vistra Corp                                               | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1594410.48   | 0.34%             | N/A             | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| REGIONS FINANCIAL CORP                                    | Regions Financial Corp                                    | CUSIP: 7591EPAR1<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |   2470000 | PA      | $2460647.59   | 0.53%             | N/A             | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| AXIS SPECIALTY FINANCE                                    | AXIS Specialty Finance LLC                                | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3050000 | PA      | $2900763.47   | 0.62%             | 2040-01-15      | Fixed         | 4.90%                 | No            | 2                  | On Loan: No      |
| CAPITAL FARM CREDIT ACA                                   | Capital Farm Credit ACA                                   | CUSIP: 14019TAA4<br>LEI: 254900S6K5I3OISPS518 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3152501.30   | 0.67%             | N/A             | Fixed         | 5.00%                 | Yes           | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                                      | Edison International                                      | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   3910000 | PA      | $3458963.20   | 0.74%             | N/A             | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley                                            | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    143950 | NS      | $3618903.00   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| CHS Inc                                                   | CHS Inc                                                   | CUSIP: 12542R704<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    115393 | NS      | $2823666.71   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| TRANSCANADA TRUST                                         | Transcanada Trust                                         | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   2155000 | PA      | $1988384.45   | 0.42%             | 2082-03-07      | Fixed         | 5.60%                 | No            | 2                  | On Loan: No      |
| FARM CREDIT BK OF TEXAS                                   | Farm Credit Bank of Texas                                 | CUSIP: 30767EAC3<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |     50000 | PA      | $48875.00     | 0.01%             | N/A             | Fixed         | 6.20%                 | Yes           | 2                  | On Loan: No      |
| FIFTH THIRD BANCORP                                       | Fifth Third Bancorp                                       | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   3271000 | PA      | $3230012.41   | 0.69%             | N/A             | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| AIR LEASE CORP                                            | Air Lease Corp                                            | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2841000 | PA      | $2751436.62   | 0.59%             | N/A             | Fixed         | 4.65%                 | No            | 2                  | On Loan: No      |
| FARM CREDIT BK OF TEXAS                                   | Farm Credit Bank of Texas                                 | CUSIP: 30767EAD1<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | DBT              | USGSE             | US        |     50000 | PA      | $49541.70     | 0.01%             | N/A             | Fixed         | 5.70%                 | Yes           | 2                  | On Loan: No      |
| CHARLES SCHWAB CORP                                       | Charles Schwab Corp/The                                   | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3389359.75   | 0.72%             | N/A             | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| TRANSCANADA TRUST                                         | Transcanada Trust                                         | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   1460000 | PA      | $1385077.76   | 0.30%             | 2079-09-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                  | Citizens Financial Group Inc                              | CUSIP: 174610AQ8<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6393133.50   | 1.36%             | N/A             | Variable      | 7.70%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

**Name of Applicant:** Nuveen Variable Rate Preferred & Income Fund

**Signature:** Gina Spunder

**Name of Signer:** Gina Spunder

**Title:** Director, Fund Financial Reporting