0001356223-14-000012.txt : 20140919 0001356223-14-000012.hdr.sgml : 20140919 20140919170343 ACCESSION NUMBER: 0001356223-14-000012 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140919 DATE AS OF CHANGE: 20140919 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WESTERN ASSET VARIABLE RATE STRATEGIC FUND INC. CENTRAL INDEX KEY: 0001299393 IRS NUMBER: 510522808 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-82381 FILM NUMBER: 141112536 BUSINESS ADDRESS: STREET 1: 620 EIGHTH AVENUE STREET 2: 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 888-777-0102 MAIL ADDRESS: STREET 1: 620 EIGHTH AVENUE STREET 2: 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: Salomon Brothers Variable Rate Strategic Fund Inc. DATE OF NAME CHANGE: 20040903 FORMER COMPANY: FORMER CONFORMED NAME: Salomon Brothers Floating Rate Strategic Fund Inc. DATE OF NAME CHANGE: 20040803 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Relative Value Partners, LLC CENTRAL INDEX KEY: 0001356223 IRS NUMBER: 201026469 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 1033 SKOKIE BOULEVARD STREET 2: SUITE 470 CITY: NORTHBROOK STATE: IL ZIP: 60062 BUSINESS PHONE: (847) 513-6300 MAIL ADDRESS: STREET 1: 1033 SKOKIE BOULEVARD STREET 2: SUITE 470 CITY: NORTHBROOK STATE: IL ZIP: 60062 SC 13G 1 rvp13g2q2014gfy.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G (Rule 13d-102) Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No.) * WESTERN ASSET VARIABLE RATE STRATEGIC FUND INC. (Name of Issuer) COMMON STOCK (Title of Class of Securities) 957667108 (CUSIP Number) (Holdings as of June 30, 2014) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [_] Rule 13d-1(c) [_] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 957667108 -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON RELATIVE VALUE PARTNERS, LLC TIN 20-1026469 -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[_] (b)[_] Not Applicable -------------------------------------------------------------------------------- 3. SEC USE ONLY -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION ILLINOIS -------------------------------------------------------------------------------- NUMBER OF 5. Sole Voting Power: 742,840 SHARES BENEFICIALLY 6. Shared Voting Power: 0 OWNED BY EACH 7. Sole Dispositive Power: 742,840 REPORTING PERSON 8. Shared Dispositive Power: 0 WITH -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 742,840 -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.14% -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IA -------------------------------------------------------------------------------- CUSIP NO. 957667108 ITEM 1(A) Name of Issuer: WESTERN ASSET VARIABLE RATE STRATEGIC FUND INC ITEM 1(B) Address of Issuer's Principal Executive Offices: 620 EIGHTH AVENUE 49TH FLOOR NEW YORK, New York 10018 ITEM 2(A) Name of Person Filing: RELATIVE VALUE PARTNERS, LLC ITEM 2(B) Address of Principal Business Office or, if none, Residence: 1033 SKOKIE BLVD. SUITE 470, NORTHBROOK, IL 60062 ITEM 2(C) Citizenship: ILLINOIS ITEM 2(D) Title of Class of Securities: COMMON STOCK ITEM 2(E) CUSIP Number: 957667108 ITEM 3. If this statement is filed pursuant to (S)(S)240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) [_] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [_] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) [X] An investment adviser in accordance with (S)240.13d-1(b)(1)(ii)(E); (f) [_] An employee benefit plan or endowment fund in accordance with (S)240.13d-1(b)(1)(ii)(F); (g) [_] A parent holding company or control person in accordance with (S) 240.13d-1(b)(1)(ii)(G); (h) [_] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [_] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [_] Group, in accordance with (S)240.13d-1(b)(1)(ii)(J). ITEM 4 OWNERSHIP ITEM 4(A): Amount Beneficially Owned: 742,840 shares ITEM 4(B): Percent of Class: 11.14% ITEM 4(C): Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 742,840 (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 742,840 (iv) shared power to dispose or to direct the disposition of: 0 ITEM 5 Ownership of Five Percent or Less of a Class: Not Applicable. CUSIP NO. 957667108 ITEM 6 Ownership of More than Five Percent on Behalf of Another Person: Not Applicable. ITEM 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable. ITEM 8 Identification and Classification of Members of the Group: Not Applicable. ITEM 9 Notice of Dissolution of Group: Not Applicable. ITEM 10 CERTIFICATION: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. September 19, 2014 ------------------------------- DATE /s/ MAURY FERTIG ------------------------------- SIGNATURE MAURY FERTIG/MANAGING MEMBER -------------------------------- NAME/TITLE