X0505 N-CEN LIVE 0001352621 XXXXXXXX 811-21853 N-1A S000016887 C000186847 C000047034 S000016888 C000186848 C000047035 S000031502 true S000031503 true S000031504 true S000031505 true S000031506 true S000031507 true S000031508 true S000031509 true S000040836 true S000088357 true Northern Lights Variable Trust 811-21853 0001352621 549300JG5J5V82S8VI88 225 Pictoria Drive, Suite 450 Cincinnati 45246 US-OH US 631-470-2600 Ultimus Fund Solutions, LLC 225 Pictoria Drive, Suite 450 Cincinnati 45246 631-470-2600 Fund Accounting and Transfer Agent Records N N N N-1A 13 Y Anthony J. Hertl N/A N Gary W. Lanzen N/A N John V. Palancia N/A N Mark D. Gersten N/A N Mark Garbin N/A N Mark H. Taylor N/A N Northern Lights Compliance Services, LLC N/A 17645 Wright Street, Suite 200 N/A Omaha 68130 XXXXXX N N N N N N Northern Lights Distributors 008-65857 N/A N/A N/A Y N Deloitte & Touche LLP 34 N/A N/A RSM US LLP 49 N/A N/A N N N N N N N Bain Capital Equity Opportunities Fund S000088357 5299006KV15Q2BBYJK43 N 2 0 0 Underlying fund Y N N N N/A 0.00000000 0.00000000 Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N Bain Capital Public Equity, LP. 801-69070 000145650 6UYOOZUIKHTN7U75ZV92 N Ultimus Fund Services, LLC 84-05829 N/A N/A N N N ICE Data Services N/A N/A N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Services, LLC N/A N/A 84-05829 Filing number N N N Ultimus Fund Services, LLC N/A N/A 84-05829 Filing number N N N JPMORGAN CHASE 8-35008 000000079 ZBUT11V806EZRVTWT807 15948.17999999 GOLDMAN SACHS 8-129 000000361 FOR8UP27PHTHYVLBNG30 5293.90000000 KEEFE, BRUYETTE & WOODS, INC. 008-10888 000000566 2EQWV0180Z211YVAD813 8351.39000000 JEFFERIES GROUP 8-15074 000002347 58PU97L1C0WSRCWADL48 15557.64000000 CITIBANK 8-8177 000007059 MBNUM2BPBDO7JBLYG310 8795.82000000 Bank America/ Merrill Lynch 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 2867.89000000 MERRILL LYNCH EUROPE 8-69787 000007691 549300T86GO0FCW4UX78 6631.90000000 INSTINET INC 8-23669 000007897 549300MGMN3RKMU8FT57 3315.88000000 MORGAN STANLEY ASIA 8-15869 000008209 9R7GPTSO7KV3UQJZQ078 11143.40000000 Sanford Berstein 8-52942 000104474 549300I7JYZHT7D5CO04 1942.67999999 92383.90000000 JPMORGAN CHASE 8-35008 000000079 ZBUT11V806EZRVTWT807 36.34000000 GOLDMAN SACHS 008-129 000000361 FOR8UP27PHTHYVLBNG30 20482.00000000 CITIGROUP 008-8177 000007059 MBNUM2BPBDO7JBLYG310 115785.00000000 Bank America/ Merrill Lynch 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 160238.00000000 MORGAN STANLEY SMITH BARNEY 8-68191 000149777 7PDDXEMZ0ZV0CEDU4D16 100342.00000000 396883.34000000 N 18179758.09186302 Uncommitted 600000.00000000 N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N Donoghue Forlines Dividend VIT Fund S000016888 5493002A78Q1SNMC1427 N 2 0 0 Underlying fund N Y -0.00510000 -0.02510000 0.00032600 0.00032600 N N Y N N U.S. Bank N.A. 6BYL5QZYBDK8S7L73M02 N N Revenue sharing split 1125614.84000000 1603.00000000 Rule 32a-4 (17 CFR 270.32a-4) Y Y Y N Donoghue Forlines LLC 801-108564 000285403 N/A N/A N Ultimus Fund Solutions, LLC 84-05829 N/A N/A N N N ICE Data Services N/A N/A N N US Bank 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 84-05829 Filing Number N N N Ultimus Fund Solutions, LLC N/A N/A 84-05829 Filing Number N N N JPMorgan 8-35008 000000079 ZBUT11V806EZRVTWT807 227.36000000 CANACCORD GENUITY WEALTH 008-03271 000001020 WTX5X269IUOQ9YMI7R44 85.66000000 Cowen 8-22522 000007616 549300WR155U7DVMIW58 85.86000000 Susquehanna Capital Group 8-43174 000029337 549300RX9GZX8Y9IGJ81 41.15000000 FCSTONE 8-49291 000041025 549300JUF07L8VF02M60 199.66000000 CITADEL SECURITIES 008-53574 000116797 12UUJYTN7D3SW8KCSG25 104.60000000 Wallachbeth Capital, LLC 8-67936 000147853 549300R371KUKXEXC133 185.73000000 Virtu Americas LLC 8-68193 000149823 549300RA02N3BNSWBV74 228.65000000 JANE STREET EXECUTION SERVICES, LLC 8-69254 000167280 549300HXJLXCPDWAH070 186.31000000 1344.98000000 0.00000000 N 8329255.78000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N Donoghue Forlines Momentum VIT Fund S000016887 5493000NP7G6T37SBS65 N 2 0 0 Underlying fund N Y -0.00490000 -0.02050000 0.00028200 0.00028200 N N Y N N U.S. Bank N.A. 6BYL5QZYBDK8S7L73M02 N N N/A 4655017.55999999 6995.00000000 Rule 32a-4 (17 CFR 270.32a-4) Y N N N Donoghue Forlines LLC 801-108564 000285403 N/A N/A N Ultimus Fund Solutions, LLC 84-05829 N/A N/A N N N ICE Data Services N/A N/A N N US Bank 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 84-05829 Filing Number N N N Ultimus Fund Solutions, LLC N/A N/A 84-05829 Filing Number N N N JPMorgan 8-35008 000000079 ZBUT11V806EZRVTWT807 3883.30000000 CANACCORD GENUITY WEALTH 008-03271 000001020 WTX5X269IUOQ9YMI7R44 1639.94000000 Cowen 8-22522 000007616 549300WR155U7DVMIW58 372.35000000 Susquehanna Capital Group 8-43174 000029337 549300RX9GZX8Y9IGJ81 2439.48000000 FCSTONE 8-49291 000041025 549300JUF07L8VF02M60 5982.16000000 CITADEL SECURITIES 008-53574 000116797 12UUJYTN7D3SW8KCSG25 3975.61000000 Wallachbeth Capital, LLC 8-67936 000147853 549300R371KUKXEXC133 6701.26000000 Virtu Americas LLC 8-68193 000149823 549300RA02N3BNSWBV74 6445.01000000 JANE STREET EXECUTION SERVICES, LLC 8-69254 000167280 549300HXJLXCPDWAH070 3041.82000000 34480.93000000 0.00000000 N 66892882.24000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N TOPS Aggressive Growth ETF Portfolio S000031506 5493008CBBL2Q5QGII10 N 4 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 2723980.00000000 14523.00000000 Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 2485.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 2868.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 3703.00000000 9056.00000000 0.00000000 N 234776119.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N TOPS Balanced ETF Portfolio S000031503 549300VPGO1ULIQDTI28 N 4 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 10258735.00000000 53673.00000000 Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 1505.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 1365.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 3378.00000000 6248.00000000 0.00000000 N 135693228.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N TOPS Conservative ETF Portfolio S000031502 549300C5JVVXIIJS4082 N 4 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 3789664.00000000 18525.00000000 Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 932.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 875.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 1640.00000000 3447.00000000 0.00000000 N 42811797.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N TOPS Growth ETF Portfolio S000031505 549300RZ9W22FGP7P063 N 4 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 7861778.00000000 45042.00000000 Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 3169.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 3096.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 5362.00000000 11627.00000000 0.00000000 N 260444053.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N TOPS Managed Risk Balanced ETF Portfolio S000031507 549300VNL87B3B7KW674 N 5 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 5457745.00000000 24557.00000000 Rule 18f-4 (17 CFR 270.18f-4) Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 426.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 470.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 1164.00000000 2060.00000000 BANK OF AMERICA MERRILL LYNCH 8-72210 000007691 8NAV47T0Y26Q87Y0QP81 217776383.00000000 90343930.00000000 N 57668765.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Derivative-equity Derivative-interest rate Equity-common Short-term investment vehicle N TOPS Managed Risk Flex ETF Portfolio S000040836 5493005FJUEPL83Z5820 N 1 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 10306464.00000000 46557.00000000 Rule 15a-4 (17 CFR 270.15a-4) Rule 18f-4 (17 CFR 270.18f-4) Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 1413.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 1231.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 2681.00000000 5325.00000000 BANK OF AMERICA MERRILL LYNCH 8-72210 000007691 8NAV47T0Y26Q87Y0QP81 217776383.00000000 257818874.00000000 N 127507452.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Derivative-equity Derivative-interest rate Equity-common Short-term investment vehicle N TOPS Managed Risk Growth ETF Portfolio S000031509 549300QYE0XD8DFGBU43 N 5 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 7325339.00000000 29524.00000000 Rule 18f-4 (17 CFR 270.18f-4) Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 1042.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 1118.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 3006.00000000 5166.00000000 BANK OF AMERICA MERRILL LYNCH 8-72210 000007691 8NAV47T0Y26Q87Y0QP81 217776383.00000000 530742865.00000000 N 161230043.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Derivative-equity Derivative-interest rate Equity-common Short-term investment vehicle N TOPS Managed Risk Moderate Growth ETF Portfolio S000031508 549300NQO6B78XIUUT51 N 5 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 7015063.00000000 33562.00000000 Rule 18f-4 (17 CFR 270.18f-4) Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 736.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 908.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 2254.00000000 3898.00000000 BANK OF AMERICA MERRILL LYNCH 8-72210 000007691 8NAV47T0Y26Q87Y0QP81 217776383.00000000 217776383.00000000 N 101786167.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Derivative-equity Derivative-interest rate Equity-common Short-term investment vehicle N TOPS Moderate Growth ETF Portfolio S000031504 549300YDJH2RX6OEMR02 N 4 0 0 Fund of Funds Underlying fund N N Y N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N N/A 12072012.00000000 55965.00000000 Rule 32a-4 (17 CFR 270.32a-4) N N N N Valmark Advisers, Inc. 801-55564 000108050 N/A N/A N Milliman Financial Risk Management, LLC 801-73056 000159377 N/A N/A N N Ultimus Fund Solutions, LLC 084-05829 N/A N/A N N N ICE Data Services N/A N/A N N Fifth Third Bank QFROUN1UWUYU0DVIWD51 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N Ultimus Fund Solutions, LLC N/A N/A 084-05829 N/A N N N MESIROW FINANCIAL 8-28816 000002764 549300BIV46SUHPOFE54 2395.00000000 STONEX FINANCIAL 8-51269 000045993 549300JUF07L8VF02M60 2276.00000000 JANE STREET 8-69254 000167280 549300HXJLXCPDWAH070 5163.00000000 9832.00000000 0.00000000 N 207626067.00000000 N N N N ICE DATA PRICING & REFERENCE DATA, LLC 5493000NQ9LYLDBCTL34 N Equity-common Short-term investment vehicle N true