Nuveen Variable Rate Preferred & Income Fund
NPFD
43 hedge funds and large institutions have $170M invested in Nuveen Variable Rate Preferred & Income Fund in 2025 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 15 increasing their positions, 12 reducing their positions, and 8 closing their positions.
25% more repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 12
3% more capital invested
Capital invested by funds: $164M → $170M (+$5.46M)
0.2% more ownership
Funds ownership: 36.22% → 36.43% (+0.2%)
7% less funds holding
Funds holding: 46 → 43 (-3)
25% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 8
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$3.15M |
| 2 |
Morgan Stanley
New York
|
+$2.47M |
| 3 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$1.33M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$489K |
| 5 |
CPSAC
Chas P. Smith & Associates (CPS)
Lakeland,
Florida
|
+$410K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$1.91M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$1.79M |
| 3 |
Pathstone Holdings
Englewood,
New Jersey
|
-$882K |
| 4 |
Goldman Sachs
New York
|
-$670K |
| 5 |
RC
Rareview Capital
Las Vegas,
Nevada
|
-$554K |
NPFD Hedge Fund Activity: Q2 2025 in Review
43 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Nuveen Variable Rate Preferred & Income Fund (NPFD) for Q2 2025, worth a combined $170M — up 3.3% from $164M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of NPFD and 6 opened new positions — a net loss of 2 holders — while 12 trimmed existing stakes and 15 added.
The largest buyer was Sit Investment Associates, adding an estimated $3.15M. The largest seller was Thomas J. Herzfeld Advisors, cutting an estimated $1.91M.
- 43 institutional investors held Nuveen Variable Rate Preferred & Income Fund (NPFD) as of Q2 2025, down from 46 in Q1 2025.
- Funds reported $170M of Nuveen Variable Rate Preferred & Income Fund stock for Q2 2025, up 3.3% quarter-over-quarter.
- 6 funds opened new Nuveen Variable Rate Preferred & Income Fund positions in Q2 2025 and 8 closed out, a net change of -2 holders.
- The largest Nuveen Variable Rate Preferred & Income Fund buyer in Q2 2025 was Sit Investment Associates, an estimated $3.15M added.
- The largest Nuveen Variable Rate Preferred & Income Fund seller in Q2 2025 was Thomas J. Herzfeld Advisors, an estimated $1.91M sold.
Based on aggregated 13F filings for Q2 2025.