# EDGAR Filing Document

**Accession Number:** 0001352621
**File Stem:** 0001752724-23-047733
**Filing Date:** 2023-2
**Character Count:** 8071
**Document Hash:** aa1f2060ac48975e7b6aefcb3fe461ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-047733.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-047733

**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:** 23686152

**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(R) Target Range(TM) Portfolio (Series ID: S000072660)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000229077 | TOPS(R) Target Range(TM) Portfolio Class 1 Shares |  |
| C000231258 | TOPS(R) Target Range(TM) Portfolio Class 2 Shares |  |
| C000231259 | TOPS(R) Target Range(TM) Portfolio Class S 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 Target Range Portfolio

- **b. EDGAR series identifier (if any):** S000072660

- **c. LEI of Series:** 549300OMNK5SQRAB1Q48

**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:** $19868992.87

**Total Liabilities:** $18824.18

**Net Assets:** $19850168.69

**Cash Not Reported:** $188906.90

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000231259 | 2.04%                | 1.53%                | -3.59%               |
| Class ID C000229077 | 2.03%                | 1.53%                | -3.58%               |
| Class ID C000231258 | 2.03%                | 1.53%                | -3.58%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-473.82                 | $-6677.27                                  |
| Month 2  | $0.01                    | $24288.12                                  |
| Month 3  | $-715.80                 | $-27079.17                                 |

**Designated Index Information**

- **Index Name:** 50SP500_20Russ2000_20MSCIAFE_10MSCIEM

- **Index Identifier:** 50SP500_20RUSS2000_20MSCIAFE_10MSCIEM

### 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 Trust           | ISHARES 0-3M T/B          | CUSIP: 46436E718<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     41525 | NS      | $4158313.50   | 20.95%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                     | FSPY US 1/20/2023 C525    | CUSIP: N/A<br>LEI: N/A                        | Short            | DO               | CORP              | N/A       |      -258 | NC      | $-129.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Short-Term Invts T      | STIT GV&A-INS             | CUSIP: 825252885<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |   5998192 | PA      | $5998192.25   | 30.22%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                     | FEEM US 1/20/2023 C57     | CUSIP: N/A<br>LEI: N/A                        | Short            | DO               | CORP              | N/A       |      -472 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                     | FIWM US 1/20/2023 C240    | CUSIP: N/A<br>LEI: N/A                        | Short            | DO               | CORP              | N/A       |      -227 | NC      | $-113.74      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Etf Trust | GOLDMAN SACHS ACCESS TREA | CUSIP: 381430529<br>LEI: 549300VEZF7K2ES5WL82 | Long             | EC               | RF                | US        |     31225 | NS      | $3113444.75   | 15.68%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                     | FEFA US 1/20/2023 C90     | CUSIP: N/A<br>LEI: N/A                        | Short            | DO               | CORP              | N/A       |      -599 | NC      | $-599.97      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                     | FEFA US 1/20/2023 C67     | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | N/A       |       599 | NC      | $41410.87     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                     | FSPY US 1/20/2023 C390    | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | N/A       |       258 | NC      | $114035.47    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                     | FEEM US 1/20/2023 C42     | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | N/A       |       472 | NC      | $1419.98      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Scottsdal      | VANGUARD SHORT-TERM TREAS | CUSIP: 92206C102<br>LEI: 549300Y88GQ3VLJIBX57 | Long             | EC               | RF                | US        |     53022 | NS      | $3065732.04   | 15.44%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                     | FIWM US 1/20/2023 C180    | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | N/A       |       227 | NC      | $41269.02     | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Spdr Series Trust       | SPDR BLOOMBERG 1          | CUSIP: 78468R663<br>LEI: 5493004JVD6CQEEJSS37 | Long             | EC               | RF                | US        |     34078 | NS      | $3117114.66   | 15.70%            |  |  |  | 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