# EDGAR Filing Document

**Accession Number:** 0001352621
**File Stem:** 0001752724-23-047738
**Filing Date:** 2023-2
**Character Count:** 8353
**Document Hash:** d2d9ee2d08f617be70b6cf07ae050ce0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-047738.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-047738

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Lights Variable Trust
- **CENTRAL INDEX KEY:** 0001352621
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21853
- **FILM NUMBER:** 23686157

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 17645 WRIGHT STREET
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

## Series and Classes Contracts Data

### TOPS Aggressive Growth ETF Portfolio (Series ID: S000031506)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000097930 | TOPS Aggressive Growth ETF Portfolio Class 2 shares        |  |
| C000097931 | TOPS Aggressive Growth ETF Portfolio Class 1 shares        |  |
| C000158839 | TOPS Aggressive Growth ETF Portfolio Investor Class Shares |  |
| C000211504 | TOPS Aggressive Growth ETF Portfolio Service Class Shares  |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Northern Lights Variable Trust

- **b. Investment Company Act file number:** 811-21853

- **c. CIK number of Registrant:** 0001352621

- **d. LEI of Registrant:** 549300JG5J5V82S8VI88

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 631-470-2600

**Item A.2. Information about the Series.**

- **a. Name of Series:** TOPS Aggressive Growth ETF Portfolio

- **b. EDGAR series identifier (if any):** S000031506

- **c. LEI of Series:** 5493008CBBL2Q5QGII10

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $90514154.36

**Total Liabilities:** $185502.39

**Net Assets:** $90328651.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000158839 | 6.71%                | 7.87%                | -4.52%               |
| Class ID C000097930 | 6.74%                | 7.93%                | -4.52%               |
| Class ID C000211504 | 6.74%                | 7.93%                | -4.52%               |
| Class ID C000097931 | 6.76%                | 7.94%                | -4.57%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $125852.96               | $4991439.48                                |
| Month 2  | $10818.20                | $6750440.48                                |
| Month 3  | $-660644.27              | $-4121747.99                               |

### Schedule of Portfolio Investments

| Name                                      | Title                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ishares Inc                               | ISHARES EX CHINA          | CUSIP: 46434G764<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     56856 | NS      | $2698954.32   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr Series Trust                         | SPDR PORT S&P 500 VALUE   | CUSIP: 78464A508<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     93149 | NS      | $3622564.61   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr Series Trust                         | SPDR PORTFOLIO S&P 500 GR | CUSIP: 78464A409<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     70996 | NS      | $3597367.32   | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Spdr Series Trust                         | SPDR PORTFOLIO SMALL CAP  | CUSIP: 78468R853<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    293407 | NS      | $10847256.79  | 12.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds | VANGUARD FTSE EMERGING MA | CUSIP: 922042858<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |    163132 | NS      | $6358885.36   | 7.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Fds                        | VANGUARD REAL ESTATE ETF  | CUSIP: 922908553<br>LEI: 549300OM0CLBHZ9MZW59 | Long             | EC               | RF                | US        |     21837 | NS      | $1801115.76   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard International Equity Index Funds | VANGUARD GLBL EX-US REAL  | CUSIP: 922042676<br>LEI: 549300UR5XWDVDO7NP96 | Long             | EC               | RF                | US        |     43922 | NS      | $1815735.48   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Wisdomtree Trust                          | WSDTRE EMRG EXST          | CUSIP: 97717X578<br>LEI: 549300SEVJBU47TE8855 | Long             | EC               | RF                | US        |    101333 | NS      | $2703564.44   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Flexshares Trust                          | FLEXSHARES GLOBAL UPSTREA | CUSIP: 33939L407<br>LEI: 5493007FU2RQX77I4604 | Long             | EC               | RF                | US        |     82639 | NS      | $3592317.33   | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                        | STIT GV&A-INS             | CUSIP: 825252885<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |   1989204 | PA      | $1989203.65   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Tax Managed Funds                | VANGUARD FTSE DEVELOPED E | CUSIP: 921943858<br>LEI: 549300PTTIGTMUA02X28 | Long             | EC               | RF                | US        |    386032 | NS      | $16201763.04  | 17.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Spdr Series Trust                         | SPDR PORTFOLIO S&P 400 MI | CUSIP: 78464A847<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |    297485 | NS      | $12643112.50  | 14.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Index Fds                        | VANGUARD S&P 500 ETF      | CUSIP: 922908363<br>LEI: 549300G6KNDK44WUN559 | Long             | EC               | RF                | US        |     64426 | NS      | $22635430.84  | 25.06%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-27

**Name of Applicant:** Northern Lights Variable Trust

**Signature:** James Colantino

**Name of Signer:** James Colantino

**Title:** Treasurer