Vault-13

NUVEEN VRIABL RAT PFD & INM NPFD

COM · Closed-End Fund · CUSIP 67080R102

43 institutional holders +0 vs Q4 2023
13,668,35913.7m shares reported held*
$244.8mreported value*
6 new 19 added 11 reduced 6 sold out net bought ≈ $61.9m (+3.5m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $17.91.

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 27Q4 22: 36Q1 23: 37Q2 23: 40Q3 23: 34Q4 23: 43Q1 24: 4343Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 202227
Q4 202236
Q1 202337
Q2 202340
Q3 202334
Q4 202343
Q1 202443

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 22: 27 bought or addedQ4 22: 6 cut or sold outQ4 22Q1 23: 23 bought or addedQ1 23: 14 cut or sold outQ1 23Q2 23: 20 bought or addedQ2 23: 13 cut or sold outQ2 23Q3 23: 13 bought or addedQ3 23: 20 cut or sold outQ3 23Q4 23: 28 bought or addedQ4 23: 12 cut or sold outQ4 23Q1 24: 25 bought or addedQ1 24: 17 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022276
Q1 20232314
Q2 20232013
Q3 20231320
Q4 20232812
Q1 20242517

Biggest buyers

MORGAN STANLEY Added +2,748,270+2.7m
Saba Capital Management, L.P. Added +271,193+271.2k
SIT INVESTMENT ASSOCIATES INC Added +219,474+219.5k
ENVESTNET ASSET MANAGEMENT INC Added +192,987+193.0k
Thomas J. Herzfeld Advisors, Inc. Added +135,750+135.8k
CHOREO, LLC New +48,748+48.7k
Pathstone Holdings, LLC Added +46,345+46.3k
Invesco Ltd. Added +34,862+34.9k
FIRST TRUST ADVISORS LP Added +21,412+21.4k
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC Added +19,229+19.2k

Biggest sellers

RIVERNORTH CAPITAL MANAGEMENT, LLC Reduced -154,204-154.2k
WOLVERINE ASSET MANAGEMENT LLC Sold out -48,233-48.2k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Reduced -29,246-29.2k
NOMURA HOLDINGS INC Sold out -18,426-18.4k
UBS Group AG Reduced -18,240-18.2k
Walleye Capital LLC Sold out -15,793-15.8k
Weiss Asset Management LP Sold out -12,792-12.8k
Matisse Capital Reduced -10,695-10.7k
WELLS FARGO & COMPANY/MN Reduced -10,571-10.6k
WEDBUSH SECURITIES INC Reduced -7,589-7.6k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
SIT INVESTMENT ASSOCIATES INC 13G · institution filed 2025-03-04 10.5% 2.5m≈ $47.9m 2025-03-04
FIRST TRUST PORTFOLIOS LP 13G · institution new · filed 2026-04-30 7.8% new 1.9m≈ $35.5m 2026-04-30
MORGAN STANLEY 13G · institution +4.0 pts · filed 2025-08-05 6.5% +4.0 pts 1.6m≈ $29.5m 2025-08-05

Insider purchases and sales in Q1 2024

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q1 2024.

Holders, Q1 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 8,016,5408.0m $143.6m $143.6m 0.00% Added +2.7m +2,748,270
2 Saba Capital Management, L.P. 0.55% of their portfolio NEW YORK, NY 1,399,5371.4m $25.1m $25.1m 0.55% Added +271.2k +271,193
3 SIT INVESTMENT ASSOCIATES INC 0.50% of their portfolio Minneapolis, MN 1,206,4841.2m $21.6m $21.6m 0.50% Added +219.5k +219,474
4 UBS Group AG 0.00% of their portfolio ZURICH, V8 373,459373.5k $6.7m $6.7m 0.00% Reduced -18.2k -18,240
5 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.30% of their portfolio WEST PALM BEACH, FL 351,202351.2k $6.3m $6.3m 0.30% Reduced -154.2k -154,204
6 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 338,579338.6k $6.1m $6.1m 0.00% Added +34.9k +34,862
7 Pathstone Holdings, LLC 0.03% of their portfolio ENGLEWOOD, NJ 296,344296.3k $5.3m $5.3m 0.03% Added +46.3k +46,345
8 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 205,036205.0k $3.7m $3.7m 0.00% Added +193.0k +192,987
9 Karpus Management, Inc. 0.10% of their portfolio Pittsford, NY 198,196198.2k $3.5m $3.5m 0.10% Reduced -401 -401
10 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 184,520184.5k $3.3m $3.3m 0.00% Added +6.0k +6,048
11 Thomas J. Herzfeld Advisors, Inc. 1.03% of their portfolio MIAMI BEACH, FL 162,387162.4k $2.9m $2.9m 1.03% Added +135.8k +135,750
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 160,493160.5k $2.9m $2.9m 0.00% Reduced -10.6k -10,571
13 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 145,897145.9k $2.6m $2.6m 0.00% Added +3.9k +3,885
14 Matisse Capital 0.62% of their portfolio PORTLAND, OR 72,39572.4k $1.3m $1.3m 0.62% Reduced -10.7k -10,695
15 CORRADO ADVISORS, LLC 0.75% of their portfolio RAMSEY, NJ 63,31863.3k $1.1m $1.1m 0.75% Reduced -3.8k -3,812
16 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 61,95762.0k $1.1m $1.1m 0.00% Added +21.4k +21,412
17 Seed Wealth Management, Inc. 1.01% of their portfolio EVANSTON, IL 59,60059.6k $1.1m $1.1m 1.01% Reduced -5.0k -5,000
18 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.09% of their portfolio Englewood, NJ 56,79256.8k $1.0m $1.0m 0.09% Reduced -29.2k -29,246
19 CHOREO, LLC 0.02% of their portfolio ROCKFORD, IL 48,74848.7k $873.1k $873.1k 0.02% New
20 Rareview Capital LLC 0.71% of their portfolio LAS VEGAS, NV 40,46440.5k $724.7k $724.7k 0.71% Reduced -2.3k -2,279
21 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 28,35128.4k $514.0k $514.0k 0.00% Added +5.4k +5,422
22 Marathon Trading Investment Management LLC 0.17% of their portfolio RADNOR, PA 24,00024.0k $429.8k $429.8k 0.17% Unchanged
23 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.08% of their portfolio BLUE BELL, PA 19,82919.8k $355.1k $355.1k 0.08% Added +19.2k +19,229
24 JONES ROAD CAPITAL MANAGEMENT, L.P. 0.31% of their portfolio NEW YORK, NY 19,22319.2k $344.3k $344.3k 0.31% Added +14 +14
25 WEDBUSH SECURITIES INC 0.01% of their portfolio PASADENA, CA 17,77317.8k $318.0k $318.0k 0.01% Reduced -7.6k -7,589
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 16,10416.1k $288.4k $288.4k 0.00% Added +15.1k +15,104
27 Catalina Capital Group, LLC 0.11% of their portfolio Torrance, CA 14,59814.6k $261.4k $261.4k 0.11% Unchanged
28 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 13,44513.4k $240.8k $240.8k 0.00% New
29 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 13,35013.3k $239.1k $239.1k 0.00% New
30 Carnegie Investment Counsel 0.01% of their portfolio PEPPER PIKE, OH 12,00012.0k $214.9k $214.9k 0.01% Unchanged
31 WALLED LAKE PLANNING & WEALTH MANAGEMENT, LLC 0.09% of their portfolio HIGHLAND PARK, IL 11,76711.8k $210.7k $210.7k 0.09% Unchanged
32 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 11,60811.6k $209.3k $209.3k 0.00% Unchanged
33 &PARTNERS 0.03% of their portfolio NASHVILLE, TN 11,11811.1k $199.1k $199.1k 0.03% Reduced -3.0k -3,000
34 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 5,3085.3k $95.1k $95.1k 0.00% Added +2.0k +2,000
35 COMERICA BANK 0.00% of their portfolio DALLAS, TX 3,1843.2k $57.0k $57.0k 0.00% Added +333 +333
36 HAZLETT, BURT & WATSON, INC. 0.01% of their portfolio WHEELING, WV 1,2081.2k $22.0k $22.0k 0.01% Added +15 +15
37 Colonial Trust Co / SC 0.00% of their portfolio SPARTANBURG, SC 750750 $13.4k $13.4k 0.00% Unchanged
38 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 717717 $13.0k $13.0k 0.00% Added +173 +173
39 FNY Investment Advisers, LLC 0.01% of their portfolio NEW YORK, NY 700700 $12.0k $12.0k 0.01% New
40 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 670670 $12.0k $12.0k 0.00% New
41 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 664664 $11.9k $11.9k 0.00% Added +386 +386
42 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 4444 $788 $788 0.00% New
43 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged