Nuveen Variable Rate Preferred & Income Fund
NPFD
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.
60% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 5
7% more funds holding
Funds holding: 45 → 48 (+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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$2.08M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.23M |
| 3 |
PCM
Penserra Capital Management
Orinda,
California
|
+$667K |
| 4 |
Jane Street
New York
|
+$482K |
| 5 |
GRP
Global Retirement Partners
San Rafael,
California
|
+$342K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$5.22M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$2.76M |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
-$2.7M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$1.25M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$1.12M |
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.