<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001352621</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000031507</seriesId>
        <classId>C000097932</classId>
        <classId>C000112453</classId>
        <classId>C000158840</classId>
        <classId>C000112454</classId>
        <classId>C000097933</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Northern Lights Variable Trust</regName>
      <regFileNumber>811-21853</regFileNumber>
      <regCik>0001352621</regCik>
      <regLei>549300JG5J5V82S8VI88</regLei>
      <regStreet1>225 PICTORIA DRIVE</regStreet1>
      <regStreet2>SUITE 450</regStreet2>
      <regCity>CINCINNATI</regCity>
      <regStateConditional regCountry="US" regState="US-OH"/>
      <regZipOrPostalCode>45246</regZipOrPostalCode>
      <regPhone>631-470-2600</regPhone>
      <seriesName>TOPS Managed Risk Balanced ETF Portfolio</seriesName>
      <seriesId>S000031507</seriesId>
      <seriesLei>549300VNL87B3B7KW674</seriesLei>
      <repPdEnd>2021-12-31</repPdEnd>
      <repPdDate>2021-09-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>461420058.27</totAssets>
      <totLiabs>264081.88</totLiabs>
      <netAssets>461155976.39</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>2267164.06000000</cshNotRptdInCorD>
      <borrowers>
        <borrower aggrVal="28515.00000000" lei="549300TDJKVQJ41VN031" name="CIBC World Markets INC"/>
        <borrower aggrVal="684124.00000000" lei="58PU97L1C0WSRCWADL48" name="Jefferies LLC"/>
        <borrower aggrVal="16797809.80000000" lei="AC28XWWI3WIBK2824319" name="Barclays Capital Inc."/>
      </borrowers>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000097932" rtn1="0.32000000" rtn2="0.95000000" rtn3="-2.28000000"/>
          <monthlyTotReturn classId="C000112453" rtn1="0.40000000" rtn2="0.87000000" rtn3="-2.27000000"/>
          <monthlyTotReturn classId="C000158840" rtn1="0.30000000" rtn2="0.90000000" rtn3="-2.15000000"/>
          <monthlyTotReturn classId="C000112454" rtn1="0.32000000" rtn2="0.89000000" rtn3="-2.24000000"/>
          <monthlyTotReturn classId="C000097933" rtn1="0.40000000" rtn2="0.87000000" rtn3="-2.19000000"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="11415.00000000" netUnrealizedAppr="-100650.00000000"/>
            <mon2 netRealizedGain="29590.00000000" netUnrealizedAppr="502440.00000000"/>
            <mon3 netRealizedGain="310707.50000000" netUnrealizedAppr="-1267997.50000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="11415.00000000" netUnrealizedAppr="-100650.00000000"/>
              <instrMon2 netRealizedGain="29590.00000000" netUnrealizedAppr="502440.00000000"/>
              <instrMon3 netRealizedGain="310707.50000000" netUnrealizedAppr="-1267997.50000000"/>
            </futureCategory>
          </equityContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="212135.00000000"/>
            <mon2 netRealizedGain="6523.44000000" netUnrealizedAppr="-59023.21000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="-203216.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="212135.00000000"/>
              <instrMon2 netRealizedGain="6523.44000000" netUnrealizedAppr="-59023.21000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="-203216.00000000"/>
            </futureCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="-3.50000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="-595.64000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="-562.62000000" netUnrealizedAppr="0.00000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="-3.50000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="-595.64000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="-562.62000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="2323985.21000000" netUnrealizedAppr="-1259314.54000000"/>
        <othMon2 netRealizedGain="1486352.95000000" netUnrealizedAppr="2200934.12000000"/>
        <othMon3 netRealizedGain="516650.84000000" netUnrealizedAppr="-11027919.95000000"/>
      </returnInfo>
      <mon1Flow redemption="-5449229.72000000" reinvestment="0.00000000" sales="2637253.35000000"/>
      <mon2Flow redemption="-5807138.56000000" reinvestment="0.00000000" sales="2640721.71000000"/>
      <mon3Flow redemption="-5244064.16000000" reinvestment="0.00000000" sales="1625869.54000000"/>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Ishares Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES IBOXX INVESTMENT</title>
        <cusip>464287242</cusip>
        <identifiers>
          <isin value="US4642872422"/>
        </identifiers>
        <balance>250106.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33271601.18000000</valUSD>
        <pctVal>7.214825977200</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 Tax-Managed International Fund</name>
        <lei>549300PTTIGTMUA02X28</lei>
        <title>VANGUARD FTSE DEVELOPED E</title>
        <cusip>921943858</cusip>
        <identifiers>
          <isin value="US9219438580"/>
        </identifiers>
        <balance>648811.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32758467.39000000</valUSD>
        <pctVal>7.103554776940</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>ICE FUTURES U.S.</name>
        <lei>5493004R83R1LVX2IL36</lei>
        <title>MSCI EmgMkt       Dec21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MESZ1 INDEX"/>
        </identifiers>
        <balance>65.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-172250.00000000</valUSD>
        <pctVal>-0.03735178742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BANK OF AMERICA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>ICE US MSCI Emerging Markets E</indexName>
                <indexIdentifier>MXEF</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2021-12-17</expDate>
            <notionalAmt>4220450.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-172250.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR PORTFOLIO S&amp;P 500 GR</title>
        <cusip>78464A409</cusip>
        <identifiers>
          <isin value="US78464A4094"/>
        </identifiers>
        <balance>126812.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8118504.24000000</valUSD>
        <pctVal>1.760468183358</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="684124.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Short-Term Invts T</name>
        <lei>549300UJV6OHYATSFU27</lei>
        <title>STIT GV&amp;A-INS</title>
        <cusip>825252885</cusip>
        <identifiers>
          <isin value="US8252528851"/>
        </identifiers>
        <balance>53116423.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53116423.99000000</valUSD>
        <pctVal>11.51810378904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</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>Flexshares Trust</name>
        <lei>5493007FU2RQX77I4604</lei>
        <title>FLEXSHARES GLOBAL UPSTREA</title>
        <cusip>33939L407</cusip>
        <identifiers>
          <isin value="US33939L4077"/>
        </identifiers>
        <balance>340852.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12475183.20000000</valUSD>
        <pctVal>2.705198205964</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>CME GLOBEX</name>
        <lei>N/A</lei>
        <title>E-Mini Russ 2000  Dec21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="RTYZ1 INDEX"/>
        </identifiers>
        <balance>17.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-38037.50000000</valUSD>
        <pctVal>-0.00824829384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BANK OF AMERICA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>RUSSELL 2000 INDEX</indexName>
                <indexIdentifier>RTY</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2021-12-17</expDate>
            <notionalAmt>1908717.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-38037.50000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR PORTFOLIO SMALL CAP</title>
        <cusip>78468R853</cusip>
        <identifiers>
          <isin value="US78468R8530"/>
        </identifiers>
        <balance>384986.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16400403.60000000</valUSD>
        <pctVal>3.556368005546</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>Wisdomtree Trust</name>
        <lei>549300SEVJBU47TE8855</lei>
        <title>WSDTRE EMRG EXST</title>
        <cusip>97717X578</cusip>
        <identifiers>
          <isin value="US97717X5784"/>
        </identifiers>
        <balance>221670.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8272724.40000000</valUSD>
        <pctVal>1.793910265407</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>DBX ETF Trust</name>
        <lei>DNLQXYGHEZ10Q9SIK386</lei>
        <title>XTRACKERS USD HIGH YIELD</title>
        <cusip>233051432</cusip>
        <identifiers>
          <isin value="US2330514322"/>
        </identifiers>
        <balance>418898.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16789431.84000000</valUSD>
        <pctVal>3.640727367653</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="16797809.80000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CME GLOBEX</name>
        <lei>N/A</lei>
        <title>S&amp;P MID 400 EMINI Dec21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FAZ1 INDEX"/>
        </identifiers>
        <balance>12.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-86700.00000000</valUSD>
        <pctVal>-0.01880058037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BANK OF AMERICA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CME E-Mini Standard &amp; Poor's M</indexName>
                <indexIdentifier>MID</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2021-12-17</expDate>
            <notionalAmt>3246540.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-86700.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE (FLOOR)</name>
        <lei>N/A</lei>
        <title>S&amp;P500 EMINI FUT  Dec21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ESZ1 INDEX"/>
        </identifiers>
        <balance>42.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-388917.50000000</valUSD>
        <pctVal>-0.08433534853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BANK OF AMERICA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CME Standard &amp; Poor's 500 Inde</indexName>
                <indexIdentifier>SPX</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2021-12-17</expDate>
            <notionalAmt>9414192.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-388917.50000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Scottsdal</name>
        <lei>549300Y88GQ3VLJIBX57</lei>
        <title>VANGUARD SHORT-TERM TREAS</title>
        <cusip>92206C102</cusip>
        <identifiers>
          <isin value="US92206C1027"/>
        </identifiers>
        <balance>411690.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25281882.90000000</valUSD>
        <pctVal>5.482284561919</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>549300G6KNDK44WUN559</lei>
        <title>VANGUARD S&amp;P 500 ETF</title>
        <cusip>922908363</cusip>
        <identifiers>
          <isin value="US9229083632"/>
        </identifiers>
        <balance>92846.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36618462.40000000</valUSD>
        <pctVal>7.940580687396</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>Spdr Series Trust</name>
        <lei>5493001XGU6MOBRXUU78</lei>
        <title>SPDR BBG BARC IG FLOATING</title>
        <cusip>78468R200</cusip>
        <identifiers>
          <isin value="US78468R2004"/>
        </identifiers>
        <balance>549904.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16860056.64000000</valUSD>
        <pctVal>3.656042099244</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 Scottsdal</name>
        <lei>549300Y88GQ3VLJIBX57</lei>
        <title>VANGUARD MORTGAGE-BACKED</title>
        <cusip>92206C771</cusip>
        <identifiers>
          <isin value="US92206C7719"/>
        </identifiers>
        <balance>158146.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8427600.34000000</valUSD>
        <pctVal>1.827494550970</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>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR PORT S&amp;P 500 VALUE</title>
        <cusip>78464A508</cusip>
        <identifiers>
          <isin value="US78464A5083"/>
        </identifiers>
        <balance>735579.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28687581.00000000</valUSD>
        <pctVal>6.220797836031</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 Charlotte Funds</name>
        <lei>549300Z9BHDBGHMJLU94</lei>
        <title>VANGUARD TOTAL INTL BOND</title>
        <cusip>92203J407</cusip>
        <identifiers>
          <isin value="US92203J4076"/>
        </identifiers>
        <balance>73887.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4208603.52000000</valUSD>
        <pctVal>0.912620400790</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="28515.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
        <lei>N/A</lei>
        <title>INVESCO STIT GOVT &amp; AGENCY-INST ( FUND CUSIP 825252885 ) (#1901)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="17912709.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR PORT SHRT TRM CORP B</title>
        <cusip>78464A474</cusip>
        <identifiers>
          <isin value="US78464A4748"/>
        </identifiers>
        <balance>673960.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21061250.00000000</valUSD>
        <pctVal>4.567055633729</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>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US 5YR NOTE (CBT) Dec21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FVZ1 COMDTY"/>
        </identifiers>
        <balance>208.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-128414.00000000</valUSD>
        <pctVal>-0.02784610990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BANK OF AMERICA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>CBOT 5 Year US Treasury Note</issueTitle>
                <identifiers>
                  <isin value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2021-12-31</expDate>
            <notionalAmt>25658750.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-128414.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Intl Equi</name>
        <lei>549300UR5XWDVDO7NP96</lei>
        <title>VANGUARD FTSE EMERGING MA</title>
        <cusip>922042858</cusip>
        <identifiers>
          <isin value="US9220428588"/>
        </identifiers>
        <balance>332681.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16637376.81000000</valUSD>
        <pctVal>3.607754786187</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 Intl Equi</name>
        <lei>549300UR5XWDVDO7NP96</lei>
        <title>VANGUARD GLBL EX-US REAL</title>
        <cusip>922042676</cusip>
        <identifiers>
          <isin value="US9220426764"/>
        </identifiers>
        <balance>221283.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12460445.73000000</valUSD>
        <pctVal>2.702002439075</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 Asset All</name>
        <lei>549300EW16IGZDA38J20</lei>
        <title>VANGUARD SHORT-TERM TIPS</title>
        <cusip>922020805</cusip>
        <identifiers>
          <isin value="US9220208055"/>
        </identifiers>
        <balance>956871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50312277.18000000</valUSD>
        <pctVal>10.91003472921</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>VanEck ETF Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK J. P. MOR</title>
        <cusip>92189H300</cusip>
        <identifiers>
          <isin value="US92189H3003"/>
        </identifiers>
        <balance>417773.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12520656.81000000</valUSD>
        <pctVal>2.715058993274</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>ICE FUTURES U.S.</name>
        <lei>5493004R83R1LVX2IL36</lei>
        <title>MSCI EAFE         Dec21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MFSZ1 INDEX"/>
        </identifiers>
        <balance>42.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-200760.00000000</valUSD>
        <pctVal>-0.04353407746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BANK OF AMERICA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>ICE US mini MSCI EAFE Index</indexName>
                <indexIdentifier>MXEA</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2021-12-17</expDate>
            <notionalAmt>4961460.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-200760.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR PORTFOLIO S&amp;P 400 MI</title>
        <cusip>78464A847</cusip>
        <identifiers>
          <isin value="US78464A8475"/>
        </identifiers>
        <balance>442684.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20434293.44000000</valUSD>
        <pctVal>4.431102378844</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 Scottsdal</name>
        <lei>549300Y88GQ3VLJIBX57</lei>
        <title>VANGUARD INTERMEDIATE-TER</title>
        <cusip>92206C706</cusip>
        <identifiers>
          <isin value="US92206C7065"/>
        </identifiers>
        <balance>187073.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12636781.15000000</valUSD>
        <pctVal>2.740240135002</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>122237.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12441281.86000000</valUSD>
        <pctVal>2.697846823409</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>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-10-28</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>
