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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRANITESHARES ETF TRUST</name>
        <lei>549300ODHHSS5JB0RB94</lei>
        <title>GRANITESHARES BCOM BROAD</title>
        <cusip>38747R108</cusip>
        <identifiers>
          <isin value="US38747R1086"/>
        </identifiers>
        <balance>100800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1869840.00000000</valUSD>
        <pctVal>4.223730327737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indexiq Etf Tr</name>
        <lei>549300RB5MLWJ1UN5M66</lei>
        <title>IQ 50PCT HEDGED FTSE INT</title>
        <cusip>45409B560</cusip>
        <identifiers>
          <isin value="US45409B5600"/>
        </identifiers>
        <balance>108100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1816080.00000000</valUSD>
        <pctVal>4.102293337182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Index Fds</name>
        <lei>549300OM0CLBHZ9MZW59</lei>
        <title>VANGUARD REAL ESTATE ETF</title>
        <cusip>922908553</cusip>
        <identifiers>
          <isin value="US9229085538"/>
        </identifiers>
        <balance>24405.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1704689.25000000</valUSD>
        <pctVal>3.850675824986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fidelity Covington Trust</name>
        <lei>549300JFYFTF85QAQR28</lei>
        <title>FIDELITY MATERIALS ETF</title>
        <cusip>316092881</cusip>
        <identifiers>
          <isin value="US3160928814"/>
        </identifiers>
        <balance>71248.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1745576.00000000</valUSD>
        <pctVal>3.943033783944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-04-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Lights Variable Trust</ncom:nameOfApplicant>
      <ncom:signature>James Colantino</ncom:signature>
      <ncom:signerName>James Colantino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
