XTRACKERS USD HI

NPORT-P false 0001352621 XXXXXXXX S000031502 C000097922 C000097923 C000158835 C000211500 Northern Lights Variable Trust 811-21853 0001352621 549300JG5J5V82S8VI88 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 TOPS Conservative ETF Portfolio S000031502 549300C5JVVXIIJS4082 2025-12-31 2025-12-31 N 47241505.88 14003.87 47227502.01 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N/A DBX ETF Trust DNLQXYGHEZ10Q9SIK386 XTRACKERS USD HI 233051432 25708.00000000 NS USD 946825.64000000 2.004818378493 Long EC RF US N 1 N N N Flexshares Trust 5493007FU2RQX77I4604 FLEXSHARES GLOBA 33939L407 20677.00000000 NS USD 948040.45000000 2.007390629720 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHARES IBOXX IN 464287242 29897.00000000 NS USD 3294350.43000000 6.975491588148 Long EC RF US N 1 N N Ishares Inc 549300MGJZCNMJLBAJ67 ISHARES EX CHINA 46434G764 6437.00000000 NS USD 467841.16000000 0.990611698880 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHARES MSCI USA 46434V290 6124.00000000 NS USD 458565.12000000 0.970970516083 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHARES GLB REIT 46434V647 18615.00000000 NS USD 464444.25000000 0.983419046600 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHR BB CORP BND 46435U473 20137.00000000 NS USD 949056.81000000 2.009542680870 Long EC RF US N 1 N N N J P Morgan Exchange Traded Fund Trust 5493001E1K1DVWDV2464 JPM ULTRA-SHT IN 46641Q837 37154.00000000 NS USD 1879620.86000000 3.979928600928 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR PORTFOLIO S 78464A409 8783.00000000 NS USD 937146.10000000 1.984322820634 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR-PORT S/T C 78464A474 188022.00000000 NS USD 5678264.40000000 12.02321562295 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SS SPDR P SP500V 78464A508 33082.00000000 NS USD 1879388.42000000 3.979436430074 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SS SPDR P SP400M 78464A847 32260.00000000 NS USD 1868176.60000000 3.955696406734 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR BLOOMBERG I 78468R200 45946.00000000 NS USD 1411920.58000000 2.989615202813 Long EC RF US N 1 N N SPDR Series Trust 5493004JVD6CQEEJSS37 SS SPDR P SP600S 78468R853 9795.00000000 NS USD 458993.70000000 0.971877995797 Long EC RF US N 1 N N N Short-Term Invts T 549300UJV6OHYATSFU27 INV-G&A-INS 825252885 1022624.91000000 PA USD 1022624.91000000 2.165316534809 Long STIV RF US N 1 N N N VanEck ETF Trust 549300ZLFKNTXC51ZN76 V/E JPM EM L C B 92189H300 36794.00000000 NS USD 950021.08000000 2.011584436116 Long EC RF US N 1 N N N Vanguard Tax Managed Funds 549300PTTIGTMUA02X28 VANGUARD FTSE ET 921943858 45302.00000000 NS USD 2830015.94000000 5.992304948503 Long EC RF US N 1 N N N Vanguard Malvern Funds 549300EW16IGZDA38J20 VANG SH TERM TIP 922020805 153208.00000000 NS USD 7577667.68000000 16.04503172409 Long EC RF US N 1 N N Vanguard Charlotte Funds 549300Z9BHDBGHMJLU94 VANGUARD INTL BD 92203J407 39162.00000000 NS USD 1892307.84000000 4.006792143271 Long EC RF US N 1 N N N Vanguard International Equity Index Funds 549300UR5XWDVDO7NP96 VANGUARD FTSE EM 922042858 8832.00000000 NS USD 474808.32000000 1.005364035344 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 VANGUARD SHORT-T 92206C102 64406.00000000 NS USD 3782564.38000000 8.009240842759 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 VANGUARD INTERME 92206C706 47229.00000000 NS USD 2830433.97000000 5.993190089538 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 VANGUARD MORTGAG 92206C771 20087.00000000 NS USD 945695.96000000 2.002426382406 Long EC RF US N 1 N N N Vanguard Index Funds 549300G6KNDK44WUN559 VANGUARD S&P 500 922908363 4491.00000000 NS USD 2816440.83000000 5.963560870536 Long EC RF US N 1 N N N Wisdomtree Trust 549300SEVJBU47TE8855 WSDTRE EMRG EXST 97717X578 11953.00000000 NS USD 466406.06000000 0.987573003334 Long EC RF US N 1 N N N FEDERATED GOVT OBLI FD-PRM N/A FEDERATED GOVT OBLI FD-PRM (SWEEP) N/A 0.00000000 NS USD 0.00000000 0.000000 Long STIV US N N/A N N 2026-01-28 Northern Lights Variable Trust James Colantino James Colantino Treasurer