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Nuveen Variable Rate Preferred & Income Fund

48 hedge funds and large institutions have $156M invested in Nuveen Variable Rate Preferred & Income Fund in 2025 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 11 increasing their positions, 19 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

60% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 5

7% more funds holding

Funds holding: 4548 (+3)

1.39% less ownership

Funds ownership: 35.36%33.97% (-1.4%)

8% less capital invested

Capital invested by funds: $171M → $156M (-$14.3M)

42% less repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 19

Holders
48
Holders Change
+3
Holders Change %
+6.67%
% of All Funds
0.58%
Holding in Top 10
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
8
Increased
11
Reduced
19
Closed
5
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
GRP
26
Global Retirement Partners
California
$333K +$342K +17,478 New
P
27
&Partners
Tennessee
$306K -$20.3K -1,034 -6%
Lido Advisors
28
Lido Advisors
California
$304K
LPL Financial
29
LPL Financial
California
$297K -$4.37K -223 -1%
SCM
30
Sage Capital Management
New Jersey
$257K
CL
31
Choreo LLC
Illinois
$242K -$392K -19,995 -61%
AIS
32
Accredited Investor Services
Minnesota
$236K -$9.05K -462 -4%
VF
33
Virtu Financial
New York
$232K +$238K +12,167 New
CIC
34
Carnegie Investment Counsel
Ohio
$228K
WLPWM
35
Walled Lake Planning & Wealth Management
Illinois
$224K
SF
36
Summit Financial
New Jersey
$214K -$45.9K -2,346 -17%
MFG
37
Merit Financial Group
Georgia
$200K -$4.74K -242 -2%
RDFA
38
Ritter Daniher Financial Advisory
Ohio
$178K +$183K +9,347 New
Osaic Holdings
39
Osaic Holdings
Arizona
$115K -$52.8K -2,696 -31%
WAM
40
Wolverine Asset Management
Illinois
$58.2K +$59.9K +3,060 New
PWPS
41
Pinnacle Wealth Planning Services
Ohio
$55.4K +$57K +2,911 New
CA
42
CoreCap Advisors
Michigan
$48.3K
Comerica Bank
43
Comerica Bank
Texas
$33K -$16.3K -830 -32%
WA
44
WPG Advisers
Maryland
$22.4K -$20 -1 -0.1%
US Bancorp
45
US Bancorp
Minnesota
$18K
Rockefeller Capital Management
46
Rockefeller Capital Management
New York
$15.6K -$7.93K -405 -33%
Bank of America
47
Bank of America
North Carolina
$6.51K
AssetMark Inc
48
AssetMark Inc
California
$837
TJHA
49
Thomas J. Herzfeld Advisors
Florida
-$5.22M -261,335 Closed
BI
50
Bramshill Investments
Florida
-$768K -38,484 Closed

NPFD Hedge Fund Activity: Q4 2025 in Review

48 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Nuveen Variable Rate Preferred & Income Fund (NPFD) for Q4 2025, worth a combined $156M — down 8.4% from $171M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new NPFD positions and 5 closed out — a net gain of 3 holders — while 11 added to existing stakes and 19 trimmed.

The largest buyer was Advisors Asset Management, adding an estimated $2.08M. The largest seller was Thomas J. Herzfeld Advisors, exiting entirely with an estimated $5.22M sold.

  • 48 institutional investors held Nuveen Variable Rate Preferred & Income Fund (NPFD) as of Q4 2025, up from 45 in Q3 2025.
  • Funds reported $156M of Nuveen Variable Rate Preferred & Income Fund stock for Q4 2025, down 8.4% quarter-over-quarter.
  • 8 funds opened new Nuveen Variable Rate Preferred & Income Fund positions in Q4 2025 and 5 closed out, a net change of +3 holders.
  • The largest Nuveen Variable Rate Preferred & Income Fund buyer in Q4 2025 was Advisors Asset Management, an estimated $2.08M added.
  • The largest Nuveen Variable Rate Preferred & Income Fund seller in Q4 2025 was Thomas J. Herzfeld Advisors, an estimated $5.22M sold.

Based on aggregated 13F filings for Q4 2025.