SPDR PORTFOLIO S

NPORT-P false 0001352621 XXXXXXXX S000031504 C000158837 C000097926 C000097927 C000211502 Northern Lights Variable Trust 811-21853 0001352621 549300JG5J5V82S8VI88 225 PICTORIA DRIVE SUITE 450 CINCINNATI 45246 631-470-2600 TOPS Moderate Growth ETF Portfolio S000031504 549300YDJH2RX6OEMR02 2025-12-31 2025-06-30 N 205773026.72 71744.62 205701282.10 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 N/A UST SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR PORTFOLIO S 78464A409 43510.00000000 NS USD 4147373.20000000 2.016211643242 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHARES GLB REIT 46434V647 330917.00000000 NS USD 8173649.90000000 3.973553211022 Long EC RF US N 1 N N N Vanguard Tax Managed Funds 549300PTTIGTMUA02X28 VANGUARD FTSE ET 921943858 472582.00000000 NS USD 26941899.82000000 13.09758478165 Long EC RF US N 1 N N N DBX ETF Trust DNLQXYGHEZ10Q9SIK386 XTRACKERS USD HI 233051432 276550.00000000 NS USD 10210226.00000000 4.963618065849 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR PORT SP 600 78468R853 193740.00000000 NS USD 8253324.00000000 4.012286124686 Long EC RF US N 1 N N N Vanguard International Equity Index Funds 549300UR5XWDVDO7NP96 VANGUARD FTSE EM 922042858 165440.00000000 NS USD 8182662.40000000 3.977934564366 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 VANGUARD INTERME 92206C706 102231.00000000 NS USD 6114436.11000000 2.972483227901 Long EC RF US N 1 N N N Ishares Inc 549300MGJZCNMJLBAJ67 ISHARES EX CHINA 46434G764 65046.00000000 NS USD 4107004.44000000 1.996586699932 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHARES MSCI USA 46434V290 60952.00000000 NS USD 4141688.40000000 2.013448024104 Long EC RF US N 1 N N Wisdomtree Trust 549300SEVJBU47TE8855 WSDTRE EMRG EXST 97717X578 59359.00000000 NS USD 2046698.32000000 0.994985689493 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR-PORT S/T C 78464A474 611199.00000000 NS USD 18452097.81000000 8.970336801804 Long EC RF US N 1 N N N Vanguard Malvern Funds 549300EW16IGZDA38J20 VANG SH TERM TIP 922020805 244513.00000000 NS USD 12291668.51000000 5.975494359838 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPDR PORT SP 400 78464A847 303634.00000000 NS USD 16511616.92000000 8.026987849289 Long EC RF US N 1 N N N Vanguard Scottsdale Funds 549300Y88GQ3VLJIBX57 VANGUARD MORTGAG 92206C771 88034.00000000 NS USD 4079495.56000000 1.983213482362 Long EC RF US N 1 N N FEDERATED GOVT OBLI FD-PRM N/A FEDERATED GOVT OBLI FD-PRM (SWEEP) N/A 0.00000000 NS USD 0.00000000 0.000000 Long STIV US N N/A N N Vanguard Charlotte Funds 549300Z9BHDBGHMJLU94 VANGUARD INTL BD 92203J407 41088.00000000 NS USD 2034266.88000000 0.988942246364 Long EC RF US N 1 N N N iShares Trust 5493000860OXIC4B5K91 ISHARES IBOXX IN 464287242 93346.00000000 NS USD 10231655.06000000 4.974035628531 Long EC RF US N 1 N N N Vanguard Index Funds 549300G6KNDK44WUN559 VANGUARD S&P 500 922908363 65321.00000000 NS USD 37104287.63000000 18.03794670174 Long EC RF US N 1 N N N Short-Term Invts T 549300UJV6OHYATSFU27 INV-G&A-INS 825252885 4116361.40000000 PA USD 4116361.40000000 2.001135509694 Long STIV RF US N 1 N N N Flexshares Trust 5493007FU2RQX77I4604 FLEXSHARES GLOBA 33939L407 204997.00000000 NS USD 8222429.67000000 3.997267098219 Long EC RF US N 1 N N N SPDR Series Trust 5493004JVD6CQEEJSS37 SPD-POR S&P500 V 78464A508 117989.00000000 NS USD 6175544.26000000 3.002190456449 Long EC RF US N 1 N N N VanEck ETF Trust 549300ZLFKNTXC51ZN76 V/E JPM EM L C B 92189H300 161954.00000000 NS USD 4105533.90000000 1.995871808909 Long EC RF US N 1 N N N 2025-07-28 Northern Lights Variable Trust James Colantino James Colantino Treasurer