# TOPS Growth ETF Portfolio

TOPS Growth ETF Portfolio is a registered fund series of Northern Lights Variable Trust (series S000031505). Net assets $332.4M as of 2026-03-31.

## Profile

- Series ID: S000031505
- Registrant: Northern Lights Variable Trust
- LEI: 549300RZ9W22FGP7P063
- Net assets: $332.4M
- Total assets: $333.2M
- As of: 2026-03-31
- Type: Fund of funds

## Advisers

- [Valmark Advisers, Inc. (Advisor)](https://search.stillhousedata.com/firm/108050)
- [Milliman Financial Risk Management, LLC (Subadvisor)](https://search.stillhousedata.com/firm/159377)

## Top holdings (21 reported)

_Showing 15 of 21 holdings by value._

| Holding | Ticker | Value | % of fund |
| --- | --- | --- | --- |
| [Vanguard Index Funds](https://search.stillhousedata.com/security/922908363) | — | $70.0M | 2105.51% |
| [Vanguard Tax Managed Funds](https://search.stillhousedata.com/security/921943858) | — | $57.0M | 1713.51% |
| [SPDR Series Trust](https://search.stillhousedata.com/security/78464A847) | — | $36.7M | 1103.67% |
| [SPDR Series Trust](https://search.stillhousedata.com/security/78468R853) | — | $20.0M | 600.47% |
| [SPDR Series Trust](https://search.stillhousedata.com/security/78464A409) | — | $16.8M | 506.39% |
| [SPDR Series Trust](https://search.stillhousedata.com/security/78464A508) | — | $16.5M | 496.71% |
| [Ishares Inc](https://search.stillhousedata.com/security/46434G764) | — | $13.5M | 405.04% |
| [Vanguard International Equity Index Funds](https://search.stillhousedata.com/security/922042858) | — | $13.4M | 402.02% |
| [Flexshares Trust](https://search.stillhousedata.com/security/33939L407) | — | $13.2M | 398.00% |
| [iShares Trust](https://search.stillhousedata.com/security/46434V647) | — | $13.2M | 397.50% |
| [Vanguard Malvern Funds](https://search.stillhousedata.com/security/922020805) | — | $9.8M | 293.71% |
| [Short-Term Invts T](https://search.stillhousedata.com/security/825252885) | — | $7.2M | 215.22% |
| [Wisdomtree Trust](https://search.stillhousedata.com/security/97717X578) | — | $6.7M | 200.63% |
| [iShares Trust](https://search.stillhousedata.com/security/46434V290) | — | $6.6M | 200.02% |
| [iShares Trust](https://search.stillhousedata.com/security/464287242) | — | $6.6M | 197.73% |

## Net asset history

| Report date | Net assets |
| --- | --- |
| 2026-03-31 | $332.4M |
| 2025-12-31 | $316.0M |
| 2025-09-30 | $292.3M |
| 2025-06-30 | $259.1M |
| 2025-03-31 | $225.9M |
| 2024-12-31 | $216.3M |
| 2024-09-30 | $211.2M |
| 2024-06-30 | $185.7M |

## More

- [Registrant: Northern Lights Variable Trust](https://search.stillhousedata.com/registrant/1352621)
- [This page as markdown (for LLM agents)](https://search.stillhousedata.com/fund/S000031505.md)
- [Search all SEC filings, advisers and people on Adviser Search](https://search.stillhousedata.com/)

---

Source: public SEC filing data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.