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        <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>35662.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1653290.32000000</valUSD>
        <pctVal>0.894101534733</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 Malvern Funds</name>
        <lei>549300EW16IGZDA38J20</lei>
        <title>VANGUARD SHORT-TERM TIPS</title>
        <cusip>922020805</cusip>
        <identifiers>
          <isin value="US9220208055"/>
        </identifiers>
        <balance>105437.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5007203.13000000</valUSD>
        <pctVal>2.707901902706</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) Mar24</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FVH4 COMDTY"/>
        </identifiers>
        <balance>41.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>99296.88000000</valUSD>
        <pctVal>0.053699880612</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 NA</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>2024-03-28</expDate>
            <notionalAmt>4360414.08000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>99296.88000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <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>161639.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6619117.05000000</valUSD>
        <pctVal>3.579627027020</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>131514.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3333879.90000000</valUSD>
        <pctVal>1.802966544439</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         Mar24</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="MFSH4 INDEX"/>
        </identifiers>
        <balance>31.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>128350.00000000</valUSD>
        <pctVal>0.069411845333</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 NA</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>2024-03-15</expDate>
            <notionalAmt>3362870.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>128350.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <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>140130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4981621.50000000</valUSD>
        <pctVal>2.694067324249</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="4554287.50000000"/>
        </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>21358867.28470000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21358867.28000000</valUSD>
        <pctVal>11.55090293833</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>Ishares Inc</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>ISHARES EX CHINA</title>
        <cusip>46434G764</cusip>
        <identifiers>
          <isin value="US46434G7640"/>
        </identifiers>
        <balance>60372.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3345212.52000000</valUSD>
        <pctVal>1.809095239933</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 PORTFOLIO S&amp;P 500 GR</title>
        <cusip>78464A409</cusip>
        <identifiers>
          <isin value="US78464A4094"/>
        </identifiers>
        <balance>127926.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8322865.56000000</valUSD>
        <pctVal>4.501016415903</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>FEDERATED GOVT OBLI FD-PRM</name>
        <lei>N/A</lei>
        <title>FEDERATED GOVT OBLI FD-PRM (SWEEP)</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="635075.50000000" isCashCollateral="Y"/>
          <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>2024-01-26</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>
</edgarSubmission>
