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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
SIA
1
Sit Investment Associates
Minnesota
$51.2M -$1.25M -63,572 -2%
Morgan Stanley
2
Morgan Stanley
New York
$37.7M -$276K -14,077 -0.7%
Royal Bank of Canada
3
Royal Bank of Canada
Ontario, Canada
$12.1M +$1.23M +63,041 +11%
UBS Group
4
UBS Group
Switzerland
$7.53M -$1.12M -56,954 -13%
PCM
5
Penserra Capital Management
California
$6.99M +$667K +34,033 +10%
Wells Fargo
6
Wells Fargo
California
$6.6M -$2.76M -141,043 -29%
AAM
7
Advisors Asset Management
Colorado
$5.27M +$2.08M +106,171 +62%
Invesco
8
Invesco
Georgia
$5.21M -$619K -31,619 -10%
Cohen & Steers
9
Cohen & Steers
New York
$3.9M
Stifel Financial
10
Stifel Financial
Missouri
$3.61M +$153K +7,803 +4%
First Trust Advisors
11
First Trust Advisors
Illinois
$2.09M +$64.2K +3,276 +3%
CEFA
12
Closed-End Fund Advisors
Virginia
$1.5M +$1.54M +78,578 New
EPW
13
Evolve Private Wealth
California
$1.31M +$1.35M +68,705 New
Commonwealth Equity Services
14
Commonwealth Equity Services
Massachusetts
$1.18M +$42.6K +2,173 +4%
RC
15
Rareview Capital
Nevada
$1.04M +$91.9K +4,692 +10%
Envestnet Asset Management
16
Envestnet Asset Management
Illinois
$901K -$2.7M -137,840 -74%
Cetera Investment Advisers
17
Cetera Investment Advisers
Illinois
$862K +$132K +6,764 +18%
WS
18
Wedbush Securities
California
$559K -$7.34K -375 -1%
Janney Montgomery Scott
19
Janney Montgomery Scott
Pennsylvania
$505K +$31.3K +1,600 +6%
CAM
20
Concorde Asset Management
Michigan
$497K +$5.88K +300 +1%
Jane Street
21
Jane Street
New York
$468K +$482K +24,599 New
CCG
22
Catalina Capital Group
California
$449K +$881 +45 +0.2%
SWM
23
Seed Wealth Management
Illinois
$410K -$19.6K -1,000 -4%
CPSAC
24
Chas P. Smith & Associates (CPS)
Florida
$400K
UPS
25
UHLMANN PRICE SECURITIES
Illinois
$372K -$3.7K -189 -1%

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.