# EDGAR Filing Document

**Accession Number:** 0001865389
**File Stem:** 0001752724-23-071780
**Filing Date:** 2023-3
**Character Count:** 73255
**Document Hash:** 913b81103744b4bd677a7e2a3f738890
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071780.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071780

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nuveen Variable Rate Preferred & Income Fund
- **CENTRAL INDEX KEY:** 0001865389
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23704
- **FILM NUMBER:** 23773821

**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

## 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:** 2023-07-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $754831299.00

**Total Liabilities:** $248472900.00

**Net Assets:** $506358399.00

**Cash Not Reported:** $748930.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -4070.20000000 | **30-Year:** -164230.72000000

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

- **3-Month:** 0.00000000 | **1-Year:** -410.12000000 | **5-Year:** -1466.93000000 | **10-Year:** -5795.80000000 | **30-Year:** -284816.89000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 3.36%                | -0.10%               | 8.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-374797.78              | $13857036.76                               |
| Month 2  | $-2177211.74             | $-1420388.60                               |
| Month 3  | $-5932442.91             | $44772917.12                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BARCLAYS PLC                               | Barclays PLC                                             | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2340000 | PA      | $2349711.00   | 0.46%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| Athene Holding Ltd                         | Athene Holding Ltd                                       | CUSIP: EP0572651<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |    194775 | NS      | $4960919.25   | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| TRUIST FINANCIAL CORP                      | Truist Financial Corp                                    | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   8368000 | PA      | $8018343.45   | 1.58%             | N/A             | Fixed         | 4.80%                 | No            | 2                  | On Loan: No      |
| CHARLES SCHWAB CORP                        | Charles Schwab Corp                                      | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  15373000 | PA      | $15253090.60  | 3.01%             | 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      | $3169557.00   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| TRUIST FIN CORP                            | Truist Financial Corp                                    | CUSIP: 89832QAB5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $5013487.50   | 0.99%             | N/A             | Variable      | 7.87%                 | No            | 2                  | On Loan: No      |
| STANDARD CHARTERED PLC                     | Standard Chartered PLC                                   | CUSIP: 853254BT6<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    755000 | PA      | $741787.50    | 0.15%             | N/A             | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| JPMORGAN CHASE & CO                        | JPMorgan Chase & Co                                      | CUSIP: 48128BAF8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   4488000 | PA      | $4364580.00   | 0.86%             | N/A             | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| BANCO SANTANDER SA                         | Banco Santander SA                                       | CUSIP: AX1003505<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   4000000 | PA      | $3970000.00   | 0.78%             | N/A             | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                   | Banco Bilbao Vizcaya Argentaria SA                       | CUSIP: 05946KAG6<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   3200000 | PA      | $3132032.00   | 0.62%             | N/A             | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| JPMORGAN CHASE & CO                        | JPMorgan Chase & Co                                      | CUSIP: 46625HJQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  17750000 | PA      | $17928920.00  | 3.54%             | N/A             | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS                                | BNP Paribas SA                                           | CUSIP: 05565AS20<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    655000 | PA      | $711330.00    | 0.14%             | N/A             | Fixed         | 9.25%                 | Yes           | 2                  | On Loan: No      |
| Energy Transfer LP                         | Energy Transfer LP                                       | CUSIP: 29273V605<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |     51100 | NS      | $1226400.00   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                   | Prudential Financial Inc                                 | CUSIP: 744320BJ0<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   3395000 | PA      | $3167195.50   | 0.63%             | 2052-03-01      | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| AES ANDES SA                               | AES Andes SA                                             | CUSIP: 00105DAG0<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |   1700000 | PA      | $1606500.00   | 0.32%             | 2079-10-07      | Fixed         | 6.35%                 | Yes           | 2                  | On Loan: No      |
| WESCO International Inc                    | WESCO International Inc                                  | CUSIP: 95082P303<br>LEI: 529900TXOGREY3WNJ434 | Long             | EP               | CORP              | US        |     43800 | NS      | $1191360.00   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Federal Agricultural Mortgage Corp         | Federal Agricultural Mortgage Corp                       | CUSIP: 313148876<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |     81399 | NS      | $2178237.24   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| CREDIT SUISSE GROUP AG                     | Credit Suisse Group AG                                   | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   3325000 | PA      | $3225250.00   | 0.64%             | N/A             | Fixed         | 9.75%                 | Yes           | 2                  | On Loan: No      |
| UNICREDIT SPA                              | UniCredit SpA                                            | CUSIP: EK1429340<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   1660000 | PA      | $1637175.00   | 0.32%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| CREDIT SUISSE GROUP AG                     | Credit Suisse Group AG                                   | CUSIP: 225401AL2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   5850000 | PA      | $4738500.00   | 0.94%             | N/A             | Fixed         | 6.38%                 | Yes           | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                         | Ally Financial Inc                                       | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4112500.00   | 0.81%             | N/A             | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| Goldman Sachs Group Inc/The                | Goldman Sachs Group Inc/The                              | CUSIP: 38145G308<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    151400 | NS      | $3777430.00   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| BANCO SANTANDER SA                         | Banco Santander SA                                       | CUSIP: 05971KAH2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3000000 | PA      | $2603004.87   | 0.51%             | N/A             | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| UBS GROUP AG                               | UBS Group AG                                             | CUSIP: UV4180070<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   9550000 | PA      | $9473600.00   | 1.87%             | N/A             | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| INTESA SANPAOLO SPA                        | Intesa Sanpaolo SpA                                      | CUSIP: 46115HAU1<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1098000 | PA      | $1036508.79   | 0.20%             | 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        |    188600 | NS      | $4930004.00   | 0.97%             |  |  |  | No            | 1                  | On Loan: No      |
| VODAFONE GROUP PLC                         | Vodafone Group PLC                                       | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10299100.00  | 2.03%             | 2079-04-04      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| LLOYDS BANKING GROUP PLC                   | Lloyds Banking Group PLC                                 | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   9185000 | PA      | $8967889.38   | 1.77%             | N/A             | Fixed         | 6.75%                 | No            | 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      | $1577104.10   | 0.31%             | N/A             | Fixed         | 7.62%                 | Yes           | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                          | HSBC Holdings PLC                                        | CUSIP: 404280AS8<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1220000 | PA      | $1194392.20   | 0.24%             | N/A             | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| ASSURANT INC                               | Assurant Inc                                             | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |   4516000 | PA      | $4470818.01   | 0.88%             | 2048-03-27      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| MARKEL CORP                                | Markel Corp                                              | CUSIP: 570535AW4<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |  10345000 | PA      | $10319137.50  | 2.04%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| UBS GROUP AG                               | UBS Group AG                                             | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3710000 | PA      | $3334919.00   | 0.66%             | N/A             | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| AMERICAN INTL GROUP                        | American International Group Inc                         | CUSIP: 026874DM6<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2213437.50   | 0.44%             | 2048-04-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                              | Citigroup Inc                                            | CUSIP: 172967MG3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7640000.00   | 1.51%             | N/A             | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| American Equity Investment Life Holding Co | American Equity Investment Life Holding Co               | CUSIP: 025676503<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    310550 | NS      | $7459411.00   | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP PARIBAS                                | BNP Paribas SA                                           | CUSIP: 05565AHN6<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   5150000 | PA      | $5079187.50   | 1.00%             | N/A             | Fixed         | 6.62%                 | Yes           | 2                  | On Loan: No      |
| CITIGROUP INC                              | Citigroup Inc                                            | CUSIP: 172967GF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3013232.55   | 0.60%             | N/A             | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| ZIONS BANCORP NA                           | Zions Bancorp NA                                         | CUSIP: 989701BF3<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1212000.00   | 0.24%             | N/A             | Fixed         | 7.20%                 | No            | 2                  | On Loan: No      |
| DEUTSCHE BANK AG                           | Deutsche Bank AG                                         | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   6000000 | PA      | $5445923.34   | 1.08%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| SOCIETE GENERALE                           | Societe Generale SA                                      | CUSIP: 83370RAC2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1500000 | PA      | $1610625.00   | 0.32%             | N/A             | Fixed         | 9.38%                 | Yes           | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                    | Goldman Sachs Group Inc/The                              | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5070030.87   | 1.00%             | N/A             | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| ALLY FINANCIAL INC                         | Ally Financial Inc                                       | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $3223500.00   | 0.64%             | N/A             | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                              | Citigroup Inc                                            | CUSIP: 172967JM4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3375000 | PA      | $3289019.48   | 0.65%             | N/A             | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| Voya Financial Inc                         | Voya Financial Inc                                       | CUSIP: 929089209<br>LEI: 549300T065Z4KJ686G75 | Long             | EP               | CORP              | US        |    261000 | NS      | $6577200.00   | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| CREDIT AGRICOLE SA                         | Credit Agricole SA                                       | CUSIP: 225313AD7<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   2465000 | PA      | $2462535.00   | 0.49%             | N/A             | Fixed         | 7.88%                 | Yes           | 2                  | On Loan: No      |
| KeyCorp                                    | KeyCorp                                                  | CUSIP: 493267843<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |    245000 | NS      | $6279350.00   | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| NuStar Energy LP                           | NuStar Energy LP                                         | CUSIP: 67058H201<br>LEI: 5493003BMLTUIEG2LG44 | Long             | EP               | CORP              | US        |    176668 | NS      | $4420233.36   | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| ENSTAR FINANCE LLC                         | Enstar Finance LLC                                       | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6115000 | PA      | $5043650.47   | 1.00%             | 2042-01-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                     | US 5YR NOTE (CBT) Mar23                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -448 | NC      | $-48940500.22 | -9.67%            |  |  |  | No            | 1                  | On Loan: No      |
| COBANK ACB                                 | CoBank ACB                                               | CUSIP: 19075QAE2<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | CORP              | US        |   6050000 | PA      | $6108356.36   | 1.21%             | 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        |   2825000 | PA      | $2810592.50   | 0.56%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| QBE INSURANCE GROUP LTD                    | QBE Insurance Group Ltd                                  | CUSIP: EK6047337<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |   3875000 | PA      | $3863871.00   | 0.76%             | 2044-12-02      | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| CMS ENERGY CORP                            | CMS Energy Corp                                          | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2273650.00   | 0.45%             | 2050-06-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                          | HSBC Holdings PLC                                        | CUSIP: 404280AT6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   7000000 | PA      | $6909000.00   | 1.36%             | N/A             | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                       | Bank of America Corp                                     | CUSIP: 060505EH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7810000 | PA      | $7805157.80   | 1.54%             | N/A             | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| BARCLAYS PLC                               | Barclays PLC                                             | CUSIP: 06738EBA2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   7258000 | PA      | $7203347.26   | 1.42%             | N/A             | Fixed         | 7.75%                 | No            | 2                  | On Loan: No      |
| CENTERPOINT ENERGY INC                     | CenterPoint Energy Inc                                   | CUSIP: 15189TAS6<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   8050000 | PA      | $7919187.50   | 1.56%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| SEMPRA ENERGY                              | Sempra Energy                                            | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $2976162.53   | 0.59%             | 2052-04-01      | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| SOUTHERN CO                                | Southern Co/The                                          | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1902660.00   | 0.38%             | 2051-01-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                    | Goldman Sachs Group Inc/The                              | CUSIP: 38148BAC2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   5890000 | PA      | $5793177.06   | 1.14%             | N/A             | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                                           | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    122800 | NS      | $3138768.00   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| CHS Inc                                    | CHS Inc                                                  | CUSIP: 12542R506<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    315300 | NS      | $8059068.00   | 1.59%             |  |  |  | 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      | $2359902.50   | 0.47%             | 2065-12-21      | Fixed         | 6.29%                 | Yes           | 2                  | On Loan: No      |
| ASSURED GUARANTY MUNI                      | Assured Guaranty Municipal Holdings Inc                  | CUSIP: 31769PAB6<br>LEI: 549300WKHOG7BKB8MS12 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2842500.00   | 0.56%             | 2066-12-15      | Fixed         | 6.40%                 | Yes           | 2                  | On Loan: No      |
| AMERICAN ELECTRIC POWER                    | American Electric Power Co Inc                           | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2229862.93   | 0.44%             | 2062-02-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| MPLX LP                                    | MPLX LP                                                  | CUSIP: 55336VAU4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   2730000 | PA      | $2730819.00   | 0.54%             | N/A             | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| STANDARD CHARTERED PLC                     | Standard Chartered PLC                                   | CUSIP: 853254BH2<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   1700000 | PA      | $1708211.00   | 0.34%             | N/A             | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                       | Bank of America Corp                                     | CUSIP: 060505EL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11054582.00  | 2.18%             | N/A             | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                               | Enbridge Inc                                             | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   8546000 | PA      | $7984284.32   | 1.58%             | 2077-07-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                               | Enbridge Inc                                             | CUSIP: 29250NBP9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   7490000 | PA      | $7722047.39   | 1.53%             | 2083-01-15      | Fixed         | 7.62%                 | No            | 2                  | On Loan: No      |
| DANSKE BANK A/S                            | Danske Bank A/S                                          | CUSIP: BP5040772<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    925000 | PA      | $812843.75    | 0.16%             | N/A             | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| EQUITABLE HOLDINGS INC                     | Equitable Holdings Inc                                   | CUSIP: 29452EAA9<br>LEI: 549300FIBAKMNHPZ4009 | Long             | DBT              | CORP              | US        |   6310000 | PA      | $6119968.36   | 1.21%             | N/A             | Fixed         | 4.95%                 | 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      | $687830.00    | 0.14%             | N/A             | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                                           | CUSIP: 61762V200<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    166500 | NS      | $4235760.00   | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| GOLDMAN SACHS GROUP INC                    | Goldman Sachs Group Inc/The                              | CUSIP: 38148BAE8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   7045000 | PA      | $6974550.00   | 1.38%             | N/A             | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| SBL HOLDINGS INC                           | SBL Holdings Inc                                         | CUSIP: 78397DAC2<br>LEI: 635400MJW3QDSBJRKQ59 | Long             | DBT              | CORP              | US        |   3915000 | PA      | $3000064.50   | 0.59%             | N/A             | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| NORDEA BANK ABP                            | Nordea Bank Abp                                          | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |   2100000 | PA      | $2071125.00   | 0.41%             | N/A             | Fixed         | 6.62%                 | Yes           | 2                  | On Loan: No      |
| Synovus Financial Corp                     | Synovus Financial Corp                                   | CUSIP: 87161C709<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EP               | CORP              | US        |    136600 | NS      | $3383582.00   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| FIRST CITIZENS BANCSHARE                   | First Citizens BancShares Inc/NC                         | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   5600000 | PA      | $5622898.96   | 1.11%             | N/A             | Variable      | 8.74%                 | No            | 2                  | On Loan: No      |
| LEGAL & GENERAL GROUP                      | Legal & General Group PLC                                | CUSIP: AM7838908<br>LEI: 213800JH9QQWHLO99821 | Long             | DBT              | CORP              | GB        |   1530000 | PA      | $1475685.00   | 0.29%             | 2047-03-21      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| GENERAL ELECTRIC CO                        | General Electric Co                                      | CUSIP: 369604BQ5<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |   8440000 | PA      | $8410460.00   | 1.66%             | N/A             | Variable      | 8.10%                 | No            | 2                  | On Loan: No      |
| Aspen Insurance Holdings Ltd               | Aspen Insurance Holdings Ltd                             | CUSIP: EP0442657<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    340200 | NS      | $8406342.00   | 1.66%             |  |  |  | No            | 1                  | On Loan: No      |
| EDISON INTERNATIONAL                       | Edison International                                     | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1349891.13   | 0.27%             | N/A             | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| METLIFE INC                                | MetLife Inc                                              | CUSIP: 59156RBT4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7940000.00   | 1.57%             | N/A             | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| NATWEST GROUP PLC                          | NatWest Group PLC                                        | CUSIP: 780099CK1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   7000000 | PA      | $7078750.00   | 1.40%             | N/A             | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| AMERICAN EXPRESS CO                        | American Express Co                                      | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   3785000 | PA      | $3348967.13   | 0.66%             | N/A             | Fixed         | 3.55%                 | No            | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                       | Bank of America Corp                                     | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3035100.00   | 0.60%             | N/A             | Fixed         | 6.30%                 | No            | 2                  | On Loan: No      |
| WELLS FARGO & COMPANY                      | Wells Fargo & Co                                         | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   6208000 | PA      | $5723000.00   | 1.13%             | N/A             | Fixed         | 3.90%                 | No            | 2                  | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                   | Capital One Financial Corp                               | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4705000 | PA      | $4083651.40   | 0.81%             | N/A             | Fixed         | 3.95%                 | No            | 2                  | On Loan: No      |
| HUNTINGTON BANCSHARES                      | Huntington Bancshares Inc/OH                             | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   8400000 | PA      | $8250487.22   | 1.63%             | N/A             | Fixed         | 5.62%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                              | Citigroup Inc                                            | CUSIP: 172967HQ7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  16995000 | PA      | $16718831.25  | 3.30%             | N/A             | Fixed         | 6.30%                 | No            | 2                  | On Loan: No      |
| DANSKE BANK A/S                            | Danske Bank A/S                                          | CUSIP: AT2149405<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    910000 | PA      | $882700.00    | 0.17%             | N/A             | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| AES ANDES SA                               | AES Andes SA                                             | CUSIP: 00105DAF2<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |   2685000 | PA      | $2599751.25   | 0.51%             | 2079-03-26      | Fixed         | 7.12%                 | Yes           | 2                  | On Loan: No      |
| MACQUARIE BANK LONDON                      | Macquarie Bank Ltd/London                                | CUSIP: 556079AB7<br>LEI: 549300MPRNPO6FWNKN78 | Long             | DBT              | CORP              | AU        |   1500000 | PA      | $1380790.16   | 0.27%             | N/A             | Fixed         | 6.12%                 | Yes           | 2                  | On Loan: No      |
| CoBank ACB                                 | CoBank ACB                                               | CUSIP: 19075Q862<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | EP               | CORP              | US        |     38600 | NS      | $3821400.00   | 0.75%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMORGAN CHASE & CO                        | JPMorgan Chase & Co                                      | CUSIP: 48126HAC4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3491250.00   | 0.69%             | N/A             | Fixed         | 6.10%                 | No            | 2                  | On Loan: No      |
| CITIGROUP INC                              | Citigroup Inc                                            | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2875000 | PA      | $2893802.50   | 0.57%             | 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        |   8000000 | PA      | $7424004.40   | 1.47%             | N/A             | Fixed         | 5.12%                 | No            | 2                  | On Loan: No      |
| AEGON NV                                   | Aegon NV                                                 | CUSIP: 007924AJ2<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | DBT              | CORP              | NL        |   2595000 | PA      | $2473213.98   | 0.49%             | 2048-04-11      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| PARAMOUNT GLOBAL                           | Paramount Global                                         | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   2235000 | PA      | $1949970.45   | 0.39%             | 2062-03-30      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| HSBC HOLDINGS PLC                          | HSBC Holdings PLC                                        | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   6290000 | PA      | $6040916.00   | 1.19%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| VISTRA CORP                                | Vistra Corp                                              | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   2215000 | PA      | $2071025.00   | 0.41%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| QBE INSURANCE GROUP LTD                    | QBE Insurance Group Ltd                                  | CUSIP: 74737EAA2<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |   8205000 | PA      | $8247861.20   | 1.63%             | 2043-11-24      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| GENERAL MOTORS FINL CO                     | General Motors Financial Co Inc                          | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9250000.00   | 1.83%             | N/A             | Fixed         | 5.70%                 | No            | 2                  | On Loan: No      |
| AUST & NZ BANKING GRP/UK                   | Australia & New Zealand Banking Group Ltd/United Kingdom | CUSIP: 05254HAA2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $1008500.00   | 0.20%             | N/A             | Fixed         | 6.75%                 | Yes           | 2                  | On Loan: No      |
| UBS GROUP AG                               | UBS Group AG                                             | CUSIP: 90352JAF0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    420000 | PA      | $417362.40    | 0.08%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| HSBC CAPITAL FUNDING USD                   | HSBC Capital Funding Dollar 1 LP                         | CUSIP: 40427LAB0<br>LEI: 213800HMY2DB765NHE46 | Long             | DBT              | CORP              | JE        |   5190000 | PA      | $6513450.00   | 1.29%             | N/A             | Fixed         | 10.18%                | Yes           | 2                  | On Loan: No      |
| AERCAP GLOBAL AVIATION T                   | AerCap Global Aviation Trust                             | CUSIP: 00773HAA5<br>LEI: 635400FBSV8LXXNRV758 | Long             | DBT              | CORP              | US        |   6200000 | PA      | $6062546.00   | 1.20%             | 2045-06-15      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| NuStar Energy LP                           | NuStar Energy LP                                         | CUSIP: 67058H300<br>LEI: 5493003BMLTUIEG2LG44 | Long             | EP               | CORP              | US        |    271200 | NS      | $6302688.00   | 1.24%             |  |  |  | No            | 1                  | On Loan: No      |
| TRUIST FINANCIAL CORP                      | Truist Financial Corp                                    | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   8195000 | PA      | $7940930.01   | 1.57%             | N/A             | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS                                | BNP Paribas SA                                           | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    735000 | PA      | $760725.00    | 0.15%             | 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        | -35683000 | PA      | $-35683000.00 | -7.05%            |  |  |  | No            | N/A                | On Loan: No      |
| EMERA INC                                  | Emera Inc                                                | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |  14093000 | PA      | $13841202.91  | 2.73%             | 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      | $4338508.80   | 0.86%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| ALGONQUIN PWR & UTILITY                    | Algonquin Power & Utilities Corp                         | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   5955000 | PA      | $5031975.00   | 0.99%             | 2082-01-18      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| ENERGY TRANSFER LP                         | Energy Transfer LP                                       | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    545000 | PA      | $497857.50    | 0.10%             | N/A             | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                                           | CUSIP: 61763E207<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    122400 | NS      | $3086928.00   | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| KeyCorp                                    | KeyCorp                                                  | CUSIP: 493267702<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |     62700 | NS      | $1632081.00   | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| NiSource Inc                               | NiSource Inc                                             | CUSIP: 65473P881<br>LEI: 549300D8GOWWH0SJB189 | Long             | EP               | CORP              | US        |     31600 | NS      | $806748.00    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| ENBRIDGE INC                               | Enbridge Inc                                             | CUSIP: 29250NAN5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2350000 | PA      | $2232947.53   | 0.44%             | 2077-01-15      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                                           | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    431297 | NS      | $10847119.55  | 2.14%             |  |  |  | No            | 1                  | On Loan: No      |
| QBE INSURANCE GROUP LTD                    | QBE Insurance Group Ltd                                  | CUSIP: 74728GAE0<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |   1600000 | PA      | $1576000.00   | 0.31%             | N/A             | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| SVB FINANCIAL GROUP                        | SVB Financial Group                                      | CUSIP: 78486QAQ4<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |   4470000 | PA      | $3419550.00   | 0.68%             | N/A             | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| CREDIT AGRICOLE SA                         | Credit Agricole SA                                       | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   5800000 | PA      | $5978582.00   | 1.18%             | N/A             | Fixed         | 8.12%                 | Yes           | 2                  | On Loan: No      |
| GENERAL MOTORS FINL CO                     | General Motors Financial Co Inc                          | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  12331000 | PA      | $11286695.01  | 2.23%             | N/A             | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| CREDIT SUISSE GROUP AG                     | Credit Suisse Group AG                                   | CUSIP: 22546DAB2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   2460000 | PA      | $2330850.00   | 0.46%             | N/A             | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| NuStar Logistics LP                        | NuStar Logistics LP                                      | CUSIP: 67059T204<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | EP               | CORP              | US        |    154289 | NS      | $3868025.23   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| WELLS FARGO & COMPANY                      | Wells Fargo & Co                                         | CUSIP: 949746RN3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  14929000 | PA      | $14857340.80  | 2.93%             | N/A             | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| Fifth Third Bancorp                        | Fifth Third Bancorp                                      | CUSIP: 316773605<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    121601 | NS      | $3036376.97   | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                   | Banco Bilbao Vizcaya Argentaria SA                       | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   2200000 | PA      | $2039085.42   | 0.40%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| LLOYDS BANKING GROUP PLC                   | Lloyds Banking Group PLC                                 | CUSIP: 539439AG4<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $1985180.00   | 0.39%             | N/A             | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Wintrust Financial Corp                    | Wintrust Financial Corp                                  | CUSIP: 97650W504<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |     99600 | NS      | $2594580.00   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| DISCOVER FINANCIAL SVS                     | Discover Financial Services                              | CUSIP: 254709AN8<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   3690000 | PA      | $3247200.00   | 0.64%             | 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        |  14500000 | PA      | $12019433.38  | 2.37%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| BARCLAYS PLC                               | Barclays PLC                                             | CUSIP: 06738EBN4<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3800000 | PA      | $3628962.00   | 0.72%             | N/A             | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| CREDIT SUISSE GROUP AG                     | Credit Suisse Group AG                                   | CUSIP: 225401AJ7<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |   9004000 | PA      | $8335516.66   | 1.65%             | N/A             | Fixed         | 7.50%                 | Yes           | 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      | $2485512.00   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| ENERGY TRANSFER LP                         | Energy Transfer LP                                       | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   5345000 | PA      | $5012968.60   | 0.99%             | N/A             | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| American Equity Investment Life Holding Co | American Equity Investment Life Holding Co               | CUSIP: 025676602<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    180150 | NS      | $4631656.50   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| BANK OF NY MELLON CORP                     | Bank of New York Mellon Corp/The                         | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2405000 | PA      | $2350820.98   | 0.46%             | N/A             | Fixed         | 4.70%                 | No            | 2                  | On Loan: No      |
| ENSTAR FINANCE LLC                         | Enstar Finance LLC                                       | CUSIP: 29360AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $896300.00    | 0.18%             | 2040-09-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| BNP PARIBAS                                | BNP Paribas SA                                           | CUSIP: 05565AGF4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2089000 | PA      | $2068110.00   | 0.41%             | N/A             | Fixed         | 7.00%                 | Yes           | 2                  | On Loan: No      |
| Athene Holding Ltd                         | Athene Holding Ltd                                       | CUSIP: 04686J309<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | BM        |    166250 | NS      | $4247687.50   | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| SVB FINANCIAL GROUP                        | SVB Financial Group                                      | CUSIP: 78486QAJ0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3202474.16   | 0.63%             | N/A             | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| NATWEST GROUP PLC                          | NatWest Group PLC                                        | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    795000 | PA      | $759225.00    | 0.15%             | N/A             | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Regions Financial Corp                     | Regions Financial Corp                                   | CUSIP: 7591EP704<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |    163723 | NS      | $4071791.01   | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| SOCIETE GENERALE                           | Societe Generale SA                                      | CUSIP: 83370RAB4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1500000 | PA      | $1334400.00   | 0.26%             | N/A             | Fixed         | 4.75%                 | Yes           | 2                  | On Loan: No      |
| COMPEER FINANCIAL ACA                      | Compeer Financial ACA                                    | CUSIP: 20453QAA0<br>LEI: 54930020HTACTODKHT04 | Long             | DBT              | CORP              | US        |    350000 | PA      | $308875.33    | 0.06%             | N/A             | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| KEYCORP                                    | KeyCorp                                                  | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |   4789000 | PA      | $4647245.60   | 0.92%             | 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        |       300 | NS      | $28800.00     | 0.01%             |  |  |  | Yes           | 2                  | On Loan: No      |
| AgriBank FCB                               | AgriBank FCB                                             | CUSIP: 00850L203<br>LEI: I0JS1G88CFNZT8P31C22 | Long             | EP               | CORP              | US        |     31750 | NS      | $3175000.00   | 0.63%             |  |  |  | No            | 2                  | On Loan: No      |
| ING GROEP NV                               | ING Groep NV                                             | CUSIP: AX2850722<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   8441000 | PA      | $8282731.25   | 1.64%             | N/A             | Fixed         | 6.75%                 | No            | 2                  | On Loan: No      |
| PNC FINANCIAL SERVICES                     | PNC Financial Services Group Inc                         | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3990000 | PA      | $3991197.00   | 0.79%             | N/A             | Fixed         | 6.20%                 | No            | 2                  | On Loan: No      |
| SEMPRA ENERGY                              | Sempra Energy                                            | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3210000 | PA      | $3081600.00   | 0.61%             | N/A             | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| DISCOVER FINANCIAL SVS                     | Discover Financial Services                              | CUSIP: 254709AQ1<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |   1745000 | PA      | $1729906.10   | 0.34%             | 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      | $1529190.00   | 0.30%             | N/A             | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO & COMPANY                      | Wells Fargo & Co                                         | CUSIP: 949746RG8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6851250.00   | 1.35%             | N/A             | Fixed         | 5.90%                 | No            | 2                  | On Loan: No      |
| REGIONS FINANCIAL CORP                     | Regions Financial Corp                                   | CUSIP: 7591EPAR1<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |   2820000 | PA      | $2801069.26   | 0.55%             | N/A             | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| SOCIETE GENERALE                           | Societe Generale SA                                      | CUSIP: 83368JFA3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3345000 | PA      | $3386812.50   | 0.67%             | N/A             | Fixed         | 8.00%                 | Yes           | 2                  | On Loan: No      |
| AXIS SPECIALTY FINANCE                     | AXIS Specialty Finance LLC                               | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3050000 | PA      | $2590932.70   | 0.51%             | 2040-01-15      | Fixed         | 4.90%                 | No            | 2                  | On Loan: No      |
| New York Community Bancorp Inc             | New York Community Bancorp Inc                           | CUSIP: 649445202<br>LEI: 529900HVXOTLY61GL030 | Long             | EP               | CORP              | US        |    230765 | NS      | $5697587.85   | 1.13%             |  |  |  | No            | 1                  | On Loan: No      |
| CAPITAL FARM CREDIT ACA                    | Capital Farm Credit ACA                                  | CUSIP: 14019TAA4<br>LEI: 254900S6K5I3OISPS518 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $2957500.00   | 0.58%             | N/A             | Fixed         | 5.00%                 | Yes           | 2                  | On Loan: No      |
| EDISON INTERNATIONAL                       | Edison International                                     | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   4530000 | PA      | $4027577.70   | 0.80%             | N/A             | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CHS Inc                                    | CHS Inc                                                  | CUSIP: 12542R704<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    157200 | NS      | $3980304.00   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| AERCAP HOLDINGS NV                         | AerCap Holdings NV                                       | CUSIP: 00774YAA7<br>LEI: 549300SZYINBBLJQU475 | Long             | DBT              | CORP              | NL        |  13900000 | PA      | $13313142.00  | 2.63%             | 2079-10-10      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| TRANSCANADA TRUST                          | Transcanada Trust                                        | CUSIP: 89356BAG3<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   2155000 | PA      | $1928725.00   | 0.38%             | 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      | $44750.00     | 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      | $3140164.71   | 0.62%             | 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        |   4841000 | PA      | $4296387.50   | 0.85%             | 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      | $46500.00     | 0.01%             | N/A             | Fixed         | 5.70%                 | Yes           | 2                  | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                                           | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     66000 | NS      | $1718640.00   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| TRANSCANADA TRUST                          | Transcanada Trust                                        | CUSIP: 89356BAE8<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $1804892.94   | 0.36%             | 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        |   2500000 | PA      | $2394750.00   | 0.47%             | N/A             | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| Regions Financial Corp                     | Regions Financial Corp                                   | CUSIP: 7591EP506<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |    168058 | NS      | $4381272.06   | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| BANK OF AMERICA CORP                       | Bank of America Corp                                     | CUSIP: 060505EN0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2219000 | PA      | $2219887.60   | 0.44%             | N/A             | Fixed         | 6.10%                 | No            | 2                  | On Loan: No      |
| PNC FINANCIAL SERVICES                     | PNC Financial Services Group Inc/The                     | CUSIP: 693475AQ8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   3534000 | PA      | $3322720.66   | 0.66%             | N/A             | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Air Lease Corp                             | Air Lease Corp                                           | CUSIP: 00912X500<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EP               | CORP              | US        |    164687 | NS      | $4049653.33   | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Farm Credit Bank of Texas                  | Farm Credit Bank of Texas                                | CUSIP: 30767E406<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |      1000 | NS      | $99750.00     | 0.02%             |  |  |  | Yes           | 1                  | On Loan: No      |
| CITIZENS FINANCIAL GROUP                   | Citizens Financial Group Inc                             | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   4290000 | PA      | $3716956.99   | 0.73%             | N/A             | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

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

**Signature:** E. Scott Wickerham

**Name of Signer:** E. Scott Wickerham

**Title:** Vice President and Funds Controller