NPORT-P false 0001352621 XXXXXXXX S000031508 C000112455 C000158841 C000097935 C000112456 C000097934 Northern Lights Variable Trust 811-21853 0001352621 549300JG5J5V82S8VI88 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 TOPS Managed Risk Moderate Growth ETF Portfolio S000031508 549300NQO6B78XIUUT51 2019-12-31 2019-09-30 N 845716177.61 4897875.23 840818302.38 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 UST ICE FUTURES U.S. 5493004R83R1LVX2IL36 N/A 124.00000000 NC USD -130820.00000000 -0.01555865275 Long DE CORP US N 1 BANK OF AMERICA MERRILL LYNCH N/A Long ICE US mini MSCI EAFE Index MXEA 2019-12-20 11900900.00000000 USD -130820.00000000 N N N Vanguard Tax Manag 549300PTTIGTMUA02X28 921943858 2029389.00000000 NS USD 83367300.12000000 9.915019675954 Long EC RF US N 1 N N N Vanguard Scottsdal 549300Y88GQ3VLJIBX57 92206C102 247939.00000000 NS USD 15111882.05000000 1.797282719372 Long EC RF US N 1 N N N Spdr Series Trust 5493004JVD6CQEEJSS37 78464A508 712511.00000000 NS USD 22771851.56000000 2.708296369803 Long EC RF US N 1 N N N ICE FUTURES U.S. 5493004R83R1LVX2IL36 N/A 203.00000000 NC USD -346115.00000000 -0.04116406588 Long DE CORP US N 1 BANK OF AMERICA MERRILL LYNCH N/A Long ICE US MSCI Emerging Markets E MXEF 2019-12-20 10515400.00000000 USD -346115.00000000 N N N ISHARES TRUST 5493000860OXIC4B5K91 464287804 582436.00000000 NS USD 45336818.24000000 5.391987556844 Long EC RF US N 1 N N N Vanguard Index Fds 549300G6KNDK44WUN559 922908363 473234.00000000 NS USD 129003588.40000000 15.34262373152 Long EC RF US N 1 N N N Spdr Series Trust 5493004JVD6CQEEJSS37 78464A474 2203610.00000000 NS USD 67981368.50000000 8.085143759070 Long EC RF US N 1 N N N United States Treasury Bills 254900HROIFWPRGM1V77 912796SX8 4500000.00000000 PA USD 4483012.50000000 0.533172563835 Long DBT UST US N 2 2019-12-19 Fixed 0.00000000 N N N N N N CME GLOBEX N/A N/A 134.00000000 NC USD -237850.00000000 -0.02828791896 Long DE CORP US N 1 BANK OF AMERICA MERRILL LYNCH N/A Long CME Standard & Poor's 500 Inde SPX 2019-12-20 20193800.00000000 USD -237850.00000000 N N N Short-Term Invts T 549300UJV6OHYATSFU27 825252885 25874348.74000000 PA USD 25874348.74000000 3.077281817814 Long STIV RF US N 1 N N N Vanguard Charlotte Funds 549300Z9BHDBGHMJLU94 92203J407 128246.00000000 NS USD 7544712.18000000 0.897305893395 Long EC RF US N 1 N N Vanguard Intl Equi 549300UR5XWDVDO7NP96 922042858 1316713.00000000 NS USD 53010865.38000000 6.304675484578 Long EC RF US N 1 N N N Flexshares Trust 5493007FU2RQX77I4604 33939L407 1451177.00000000 NS USD 45204163.55000000 5.376210701176 Long EC RF US N 1 N N N DBX ETF Trust DNLQXYGHEZ10Q9SIK386 233051432 754043.00000000 NS USD 37762473.44000000 4.491157403818 Long EC RF US N 1 N N N Chicago Board of Trade 549300EX04Q2QBFQTQ27 N/A 280.00000000 NC USD -214999.76000000 -0.02557029971 Long DIR CORP US N 1 BANK OF AMERICA MERRILL LYNCH N/A Long N/A CBOT 5 Year US Treasury Note 2019-12-31 33576562.40000000 USD -214999.76000000 N N N Vanguard Scottsdal 549300Y88GQ3VLJIBX57 92206C771 283818.00000000 NS USD 15116146.68000000 1.797789919321 Long EC RF US N 1 N N N Spdr Series Trust 5493004JVD6CQEEJSS37 78464A409 390524.00000000 NS USD 15187478.36000000 1.806273521521 Long EC RF US N 1 N N N Vanguard Asset All 549300EW16IGZDA38J20 922020805 923313.00000000 NS USD 45288502.65000000 5.386241298721 Long EC RF US N 1 N N N Money Market 25490005VWJDWX717014 608919718 35000000.00000000 PA USD 35000000.00000000 4.162611577427 Long STIV RF US N 1 N N N Vanguard Intl Equi 549300UR5XWDVDO7NP96 922042676 388297.00000000 NS USD 22750321.23000000 2.705735729776 Long EC RF US N 1 N N N Blackrock Liquidit 5493007YVNX55LTRQ706 09248U700 35000000.00000000 PA USD 35000000.00000000 4.162611577427 Long STIV RF US N 1 N N N CME GLOBEX N/A N/A 62.00000000 NC USD -174685.00000000 -0.02077559438 Long DE CORP US N 1 BANK OF AMERICA MERRILL LYNCH N/A Long RUSSELL 2000 INDEX RTY 2019-12-20 4902185.00000000 USD -174685.00000000 N N N Vanguard Scottsdal 549300Y88GQ3VLJIBX57 92206C706 113309.00000000 NS USD 7554311.03000000 0.898447501513 Long EC RF US N 1 N N N Vanguard Index Fds 549300OM0CLBHZ9MZW59 922908553 162237.00000000 NS USD 15128600.25000000 1.799271044312 Long EC RF US N 1 N N N Vaneck Vectors Etf Trust 549300ZLFKNTXC51ZN76 92189H300 457222.00000000 NS USD 15088326.00000000 1.794481156902 Long EC RF US N 1 N N N ISHARES TRUST 5493000860OXIC4B5K91 464287507 314923.00000000 NS USD 60852571.29000000 7.237303364799 Long EC RF US N 1 N N N CME GLOBEX N/A N/A 44.00000000 NC USD -117480.00000000 -0.01397210308 Long DE CORP US N 1 BANK OF AMERICA MERRILL LYNCH N/A Long CME E-Mini Standard & Poor's M MID 2019-12-20 8644680.00000000 USD -117480.00000000 N N N ISHARES TRUST 5493000860OXIC4B5K91 464287242 297132.00000000 NS USD 37878387.36000000 4.504943250257 Long EC RF US N 1 N N N INVESCO GOVERNMENT & AGENCY PORTFOLIO N/A N/A 0.00000000 NS USD 0.00000000 0.000000 Long STIV US N N/A N N 2019-10-28 Northern Lights Variable Trust James Colantino James Colantino Treasurer XXXX