NPORT-P false 0001352621 XXXXXXXX S000031509 C000097936 C000097937 C000112457 C000112458 C000158842 Northern Lights Variable Trust 811-21853 0001352621 549300JG5J5V82S8VI88 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 TOPS Managed Risk Growth ETF Portfolio S000031509 549300QYE0XD8DFGBU43 2026-12-31 2026-03-31 N 161284643.14 71308.99 161213334.15 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 551808.05000000 N/A UST TOPS Managed Risk Growth ETF Portfolio DRP TOPS MANAGED RISK GROWTH ETF PORTFOLIO DRP DBX ETF Trust DNLQXYGHEZ10Q9SIK386 233051432 79279.00000000 NS USD 2866728.64000000 1.778220551739 Long EC RF US N 1 N N N Flexshares Trust 5493007FU2RQX77I4604 33939L407 105486.00000000 NS USD 5818607.76000000 3.609259612846 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 464287242 26528.00000000 NS USD 2891286.72000000 1.793453832615 Long EC RF US N 1 N N Ishares Inc 549300MGJZCNMJLBAJ67 46434G764 74643.00000000 NS USD 5871418.38000000 3.642017833671 Long EC RF US N 1 N N iShares Trust 5493000860OXIC4B5K91 46434V290 38744.00000000 NS USD 2924784.56000000 1.814232411618 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 46434V647 231061.00000000 NS USD 5811184.15000000 3.604654776628 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 46435U473 31025.00000000 NS USD 1442352.25000000 0.894685453659 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 78464A409 75263.00000000 NS USD 7369000.33000000 4.570962054009 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 78464A508 128354.00000000 NS USD 7262269.32000000 4.504757226373 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 78464A847 270829.00000000 NS USD 16038493.38000000 9.948614650620 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 78468R853 180775.00000000 NS USD 8735048.00000000 5.418316075438 Long EC RF US N 1 N N N Short-Term Invts T 549300UJV6OHYATSFU27 825252885 17697063.81000000 PA USD 17697063.81000000 10.97741939480 Long STIV RF US N 1 N N N VanEck ETF Trust 549300ZLFKNTXC51ZN76 92189H300 114654.00000000 NS USD 2878961.94000000 1.785808819834 Long EC RF US N 1 N N N Vanguard Tax Managed Funds 549300PTTIGTMUA02X28 921943858 389930.00000000 NS USD 24986714.40000000 15.49916111576 Long EC RF US N 1 N N N Vanguard Malvern Funds 549300EW16IGZDA38J20 922020805 85972.00000000 NS USD 4294301.40000000 2.663738345616 Long EC RF US N 1 N N N Vanguard International Equity Index Funds 549300UR5XWDVDO7NP96 922042858 108743.00000000 NS USD 5877559.15000000 3.645826929260 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 92206C706 48245.00000000 NS USD 2872989.75000000 1.782104293759 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 92206C771 30661.00000000 NS USD 1439533.95000000 0.892937273203 Long EC RF US N 1 N N N Vanguard Index Funds 549300G6KNDK44WUN559 922908363 51404.00000000 NS USD 30716460.20000000 19.05330000272 Long EC RF US N 1 N N N Wisdomtree Trust 549300SEVJBU47TE8855 97717X578 73148.00000000 NS USD 2933234.80000000 1.819474062406 Long EC RF US N 1 N N N CHICAGO MERCANTILE EXCHANGE SNZ2OJLFK8MNNCLQOF39 N/A -20.00000000 NC USD 16012.50000000 0.009932491058 Short DE CORP US N 1 BOFA SECURITIES INC 549300HN4UKV1E2R3U73 Short CME Standard & Poor's 500 Inde SPX 2026-06-22 -6586762.50000000 USD 16012.50000000 N N N CHICAGO MERCANTILE EXCHANGE SNZ2OJLFK8MNNCLQOF39 N/A -9.00000000 NC USD -23660.00000000 -0.01467620536 Short DE CORP US N 1 BOFA SECURITIES INC 549300HN4UKV1E2R3U73 Short CME E-Mini Standard & Poor's M MID 2026-06-22 -3033190.00000000 USD -23660.00000000 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 N/A 29.00000000 NC USD -45765.63000000 -0.02838824111 Long DIR CORP US N 1 BOFA SECURITIES INC 549300HN4UKV1E2R3U73 Long N/A CBOT 5 Year US Treasury Note 2026-07-01 3182976.58000000 USD -45765.63000000 N N N FEDERATED GOVT OBLI FD-PRM N/A N/A 0.00000000 NS USD 0.00000000 0.000000 Long STIV US N N/A N N ICE FUTURES U.S. 5493004R83R1LVX2IL36 N/A -32.00000000 NC USD -5365.00000000 -0.00332788849 Short DE CORP US N 1 BOFA SECURITIES INC 549300HN4UKV1E2R3U73 Short ICE US MSCI Emerging Markets E MXEF 2026-06-22 -2321995.00000000 USD -5365.00000000 N N N ICE FUTURES U.S. 5493004R83R1LVX2IL36 N/A -27.00000000 NC USD -38245.00000000 -0.02372322376 Short DE CORP US N 1 BOFA SECURITIES INC 549300HN4UKV1E2R3U73 Short ICE US mini MSCI EAFE Index MXEA 2026-06-22 -3878240.00000000 USD -38245.00000000 N N N CHICAGO MERCANTILE EXCHANGE SNZ2OJLFK8MNNCLQOF39 N/A -10.00000000 NC USD -16895.00000000 -0.01047990235 Short DE CORP US N 1 BOFA SECURITIES INC 549300HN4UKV1E2R3U73 Short RUSSELL 2000 INDEX RTY 2026-06-22 -1239205.00000000 USD -16895.00000000 N N N 2026-04-28 Northern Lights Variable Trust James Colantino James Colantino Treasurer XXXX