# EDGAR Filing Document

**Accession Number:** 0000768847
**File Stem:** 0001410368-25-028345
**Filing Date:** 2025-11
**Character Count:** 35034
**Document Hash:** b19fddd8cf8c1cdfedb4a5e25a2f91a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-028345.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-028345

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VanEck Funds
- **CENTRAL INDEX KEY:** 0000768847

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04297
- **FILM NUMBER:** 251507698

**BUSINESS ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-293-2000

**MAIL ADDRESS:**
- **STREET 1:** 666 THIRD AVENUE, 9TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VAN ECK FUNDS
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Global Resources Fund (Series ID: S000009200)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000024996 | Class A      | GHAAX           |
| C000033047 | Class I      | GHAIX           |
| C000088112 | Class Y      | GHAYX           |

## Nport-Ex

VANECK

GLOBAL

RESOURCES

FUND

SCHEDULE

OF

INVESTMENTS

September

30,

2025

(unaudited)

#### Number

#### of

#### Shares

#### Value

#### COMMON

#### STOCKS:

#### 99.3%

#### Australia

#### :

#### 3.0%
Glencore

PLC

(GBP)

2,870,100

$

13,218,603

Rio

Tinto

PLC

(ADR)

41,400

2,732,814

15,951,417

#### Belgium

#### :

#### 0.8%
Titan

America

SA

(USD)

283,800

4,239,972

Underline

#### Brazil

#### :

#### 1.8%
Suzano

SA \*

988,900

9,271,663

Underline

#### Canada

#### :

#### 25.3%
Agnico

Eagle

Mines

Ltd.

(USD)

103,406

17,430,115

Alamos

Gold,

Inc.

(USD)

301,800

10,520,748

ARC

Resources

Ltd.

116,600

2,126,398

Barrick

Mining

Corp.

(USD)

475,345

15,577,056

Cameco

Corp.

(USD)

63,800

5,350,268

Capstone

Copper

Corp. \*

814,000

6,913,473

Cenovus

Energy,

Inc.

(USD) †

134,600

2,286,854

Franco-Nevada

Corp.

(USD)

58,000

12,928,780

Kinross

Gold

Corp.

(USD)

721,300

17,924,305

NGEx

Minerals

Ltd. \*

†

22,357

416,874

Nutrien

Ltd.

(USD)

246,271

14,458,570

Pan

American

Silver

Corp.

(USD)

229,500

8,888,535

Suncor

Energy,

Inc.

196,000

8,202,228

Teck

Resources

Ltd.

(USD) †

130,500

5,727,645

West

Fraser

Timber

Co.

Ltd. †

81,700

5,554,097

134,305,946

#### China

#### :

#### 1.1%
PetroChina

Co.

Ltd.

(HKD)

6,485,000

5,879,074

Underline

#### France

#### :

#### 3.9%
Nexans

SA

45,730

6,809,822

TotalEnergies

SE

230,900

14,063,799

20,873,621

#### Jersey,

#### Channel

#### Islands

#### :

#### 1.3%
Yellow

Cake

PLC

144A \*

†

917,600

7,085,779

Underline

#### Liechtenstein

#### :

#### 0.4%
Antofagasta

PLC

(GBP)

57,500

2,138,420

Underline

#### Luxembourg

#### :

#### 1.5%
ArcelorMittal

SA

(USD) †

220,400

7,967,460

Underline

#### Netherlands

#### :

#### 3.0%
JBS

NV

(USD) \*

1,069,950

15,974,354

Underline

#### South

#### Africa

#### :

#### 6.8%
Anglo

American

PLC

(GBP)

351,010

13,235,639

Gold

Fields

Ltd.

(ADR)

278,400

11,681,664

Northam

Platinum

Holdings

Ltd.

296,890

4,816,888

Valterra

Platinum

Ltd.

(GBP) †

88,802

6,329,778

36,063,969

#### Spain

#### :

#### 0.0%
Soltec

Power

Holdings

SA \*

†∞

84,100

15,798

Underline

#### Number

#### of

#### Shares

#### Value

#### United

#### Kingdom

#### :

#### 4.4%
Shell

PLC

(ADR)

328,300

$

23,483,299

Underline

#### United

#### States

#### :

#### 44.6%
Alcoa

Corp.

193,400

6,360,926

Antero

Resources

Corp. \*

61,400

2,060,584

Archer-Daniels-Midland

Co.

78,600

4,695,564

Baker

Hughes

Co.

52,900

2,577,288

Ball

Corp.

86,800

4,376,456

Chevron

Corp.

72,700

11,289,583

Commercial

Metals

Co.

47,300

2,709,344

ConocoPhillips

36,741

3,475,331

Corteva,

Inc.

94,966

6,422,551

Diamondback

Energy,

Inc.

16,811

2,405,654

Energy

Fuels,

Inc. \*

†

100,500

1,542,675

EQT

Corp.

197,000

10,722,710

Expand

Energy

Corp.

95,600

10,156,544

Exxon

Mobil

Corp.

191,880

21,634,470

Flowco

Holdings,

Inc.

27,970

415,355

FMC

Corp.

282,800

9,510,564

Freeport-McMoRan,

Inc.

377,955

14,823,395

Graphic

Packaging

Holding

Co. †

168,500

3,297,545

Hormel

Foods

Corp.

146,200

3,616,988

Ivanhoe

Electric,

Inc. \*

†

283,200

3,554,160

Kirby

Corp. \*

70,900

5,916,605

Marathon

Petroleum

Corp.

29,500

5,685,830

MasTec,

Inc. \*

17,000

3,617,770

Mosaic

Co.

276,600

9,592,488

Newmont

Corp.

191,555

16,150,002

Ormat

Technologies,

Inc.

126,840

12,208,350

Permian

Resources

Corp.

180,074

2,304,947

Phillips

80,900

11,004,018

Solaris

Energy

Infrastructure,

Inc.

209,400

8,369,718

Steel

Dynamics,

Inc.

17,200

2,398,196

Tyson

Foods,

Inc.

201,900

10,963,170

Uranium

Energy

Corp. \*

†

100,700

1,343,338

Valero

Energy

Corp.

72,900

12,411,954

WaterBridge

Infrastructure

LLC \*

75,800

1,911,676

Weyerhaeuser

Co.

309,800

7,679,942

237,205,691

#### Zambia

#### :

#### 1.4%
First

Quantum

Minerals

Ltd.

(CAD) \*

333,700

7,548,233

Underline

#### Total

#### Common

#### Stocks
(Cost:

$373,044,815)

528,004,696

#### MONEY

#### MARKET

#### FUND

#### :

#### 0.9%
Invesco

Treasury

Portfolio

-

Institutional

Class

4.17%(a)

4,652,616

4,652,616

Underline

#### Total

#### Investments

#### Before

#### Collateral

#### for

#### Securities

#### Loaned:

#### 100.2%
(Cost:

$377,697,431)

532,657,312

VANECK

GLOBAL

RESOURCES

FUND

SCHEDULE

OF

INVESTMENTS

(unaudited)

(continued)

#### FootnoteRuleAboveBlank

#### Footnotes:

#### Number

#### of

#### Shares

#### Value

#### SHORT-TERM

#### INVESTMENT

#### HELD

#### AS

#### COLLATERAL

#### FOR

#### SECURITIES

#### ON

#### LOAN:

#### 0.0%

#### Money

#### Market

#### Fund:

#### 0.0%
(Cost:

$264,811)

#### Number

#### of

#### Shares

#### Value
State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

4.18%(a)

264,811

$

264,811

#### Total

#### Investments:

#### 100.2%
(Cost:

$377,962,242)

532,922,123

#### Liabilities

#### in

#### excess

#### of

#### other

#### assets:

#### (0.2)%
(892,166)

#### NET

#### ASSETS:

#### 100.0%
$

532,029,957

#### Definitions:
ADR

American

Depositary

Receipt

CAD

Canadian

Dollar

GBP

British

Pound

HKD

Hong

Kong

Dollar

USD

United

States

Dollar

\*

Non-income

producing

†

Security

fully

or

partially

on

loan.

Total

market

value

of

securities

on

loan

is

$31,994,743.

∞

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

in

the

fair

value

hierarchy.

(a) Rate

shown

is

the

1-day

yield

as

of

09/30/25.

144A

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended,

or

otherwise

restricted.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

unless

otherwise

noted.

These

securities

have

an

aggregate

value

of

$7,085,779,

or

1.3%

of

net

assets.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VanEck Funds

- **b. Investment Company Act file number:** 811-04297

- **c. CIK number of Registrant:** 0000768847

- **d. LEI of Registrant:** 549300GEIRRGSDOHI251

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

  - **Street Address 1:** 666 THIRD AVENUE, 9TH FLOOR

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 212-293-2000

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

- **a. Name of Series:** Global Resources Fund

- **b. EDGAR series identifier (if any):** S000009200

- **c. LEI of Series:** 5493005WHIPKP4JAB710

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $535365261.18

**Total Liabilities:** $3131584.21

**Net Assets:** $532233676.97

**Cash Not Reported:** $7961.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024996 | -0.31%               | 7.26%                | 5.44%                |
| Class ID C000088112 | -0.28%               | 7.29%                | 5.44%                |
| Class ID C000033047 | -0.25%               | 7.29%                | 5.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1660239.82             | $520003.55                                 |
| Month 2  | $2614751.50              | $31724557.08                               |
| Month 3  | $5112207.50              | $21787242.29                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FMC Corp                          | FMC Corp                                                                    | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |    282800 | NS      | $9510564.00   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                          | EQT Corp                                                                    | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    197000 | NS      | $10722710.00  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                         | Shell PLC                                                                   | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    328300 | NS      | $23483299.00  | 4.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                     | Rio Tinto PLC                                                               | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     41400 | NS      | $2732814.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NGEx Minerals Ltd                 | NGEx Minerals Ltd                                                           | CUSIP: 65343P103<br>LEI: 549300M2DU5ORAGOIG27 | Long             | EC               | CORP              | CA        |     15122 | NS      | $281968.74    | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Suzano SA                         | Suzano SA                                                                   | CUSIP: 000000000<br>LEI: 391200AW174YQSDMGG41 | Long             | EC               | CORP              | BR        |    988900 | NS      | $9271663.30   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp               | Uranium Energy Corp                                                         | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |    100700 | NS      | $1343338.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| JBS NV                            | JBS NV                                                                      | CUSIP: 000000000<br>LEI: 254900JSFON4WL81TW77 | Long             | EC               | CORP              | NL        |   1069950 | NS      | $15974353.50  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc / US         | Ivanhoe Electric Inc / US                                                   | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    283200 | NS      | $3554160.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: —       |
| Valero Energy Corp                | Valero Energy Corp                                                          | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     72900 | NS      | $12411954.00  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp           | Marathon Petroleum Corp                                                     | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     29500 | NS      | $5685830.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                         | Ball Corp                                                                   | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     86800 | NS      | $4376456.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp            | Permian Resources Corp                                                      | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    180074 | NS      | $2304947.20   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ARC Resources Ltd                 | ARC Resources Ltd                                                           | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |    116600 | NS      | $2126397.93   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors      | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857492706<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    249501 | NS      | $249501.20    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                       | Nutrien Ltd                                                                 | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |    246271 | NS      | $14458570.41  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| West Fraser Timber Co Ltd         | West Fraser Timber Co Ltd                                                   | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |     81700 | NS      | $5554097.15   | 1.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Mosaic Co/The                     | Mosaic Co/The                                                               | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |    276600 | NS      | $9592488.00   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd            | Agnico Eagle Mines Ltd                                                      | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |    103406 | NS      | $17430115.36  | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc/Canada           | Energy Fuels Inc/Canada                                                     | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |    100500 | NS      | $1542675.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Capstone Copper Corp              | Capstone Copper Corp                                                        | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    814000 | NS      | $6913472.73   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co      | Graphic Packaging Holding Co                                                | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    168500 | NS      | $3297545.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| Corteva Inc                       | Corteva Inc                                                                 | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     94966 | NS      | $6422550.58   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                       | Phillips 66                                                                 | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     80900 | NS      | $11004018.00  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co         | Archer-Daniels-Midland Co                                                   | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     78600 | NS      | $4695564.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                   | Baker Hughes Co                                                             | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52900 | NS      | $2577288.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp                 | Kinross Gold Corp                                                           | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    721300 | NS      | $17924305.00  | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                  | TotalEnergies SE                                                            | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    230900 | NS      | $14063799.03  | 2.64%             |  |  |  | No            |                  2 | On Loan: No      |
| MasTec Inc                        | MasTec Inc                                                                  | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     17000 | NS      | $3617770.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure Inc | Solaris Energy Infrastructure Inc                                           | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |    209400 | NS      | $8369718.00   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                 | Suncor Energy Inc                                                           | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    196000 | NS      | $8202227.49   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                   | Tyson Foods Inc                                                             | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |    201900 | NS      | $10963170.00  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                   | Gold Fields Ltd                                                             | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |    278400 | NS      | $11681664.00  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                      | Newmont Corp                                                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    191555 | NS      | $16150002.05  | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Northam Platinum Holdings Ltd     | Northam Platinum Holdings Ltd                                               | CUSIP: 000000000<br>LEI: 3789009D0712C7101695 | Long             | EC               | CORP              | ZA        |    296890 | NS      | $4816888.14   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp                      | Chevron Corp                                                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72700 | NS      | $11289583.00  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                  | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    191880 | NS      | $21634470.00  | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan America SA                  | Titan America SA                                                            | CUSIP: 000000000<br>LEI: 9845007APCB6462D6C46 | Long             | EC               | CORP              | BE        |    283800 | NS      | $4239972.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                | Steel Dynamics Inc                                                          | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     17200 | NS      | $2398196.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                  | ArcelorMittal SA                                                            | CUSIP: 03938L203<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |    220400 | NS      | $7967460.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Kirby Corp                        | Kirby Corp                                                                  | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     70900 | NS      | $5916605.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WaterBridge Infrastructure LLC    | WaterBridge Infrastructure LLC                                              | CUSIP: 940923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    149700 | NS      | $3775434.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Antofagasta PLC                   | Antofagasta PLC                                                             | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Long             | EC               | CORP              | GB        |     57500 | NS      | $2138419.70   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Hormel Foods Corp                 | Hormel Foods Corp                                                           | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |    146200 | NS      | $3616988.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                       | Cameco Corp                                                                 | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     63800 | NS      | $5350268.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                   | Alamos Gold Inc                                                             | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    301800 | NS      | $10520748.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexans SA                         | Nexans SA                                                                   | CUSIP: 000000000<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |     45730 | NS      | $6809822.44   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| PetroChina Co Ltd                 | PetroChina Co Ltd                                                           | CUSIP: 000000000<br>LEI: 529900RPY4YG47TRSV05 | Long             | EC               | CORP              | CN        |   6485000 | NS      | $5879074.44   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc              | Freeport-McMoRan Inc                                                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    377955 | NS      | $14823395.10  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Valterra Platinum Ltd             | Valterra Platinum Ltd                                                       | CUSIP: 000000000<br>LEI: 529900RORCZ0E5S5FX81 | Long             | EC               | CORP              | ZA        |     88802 | NS      | $6329777.42   | 1.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Flowco Holdings Inc               | Flowco Holdings Inc                                                         | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27970 | NS      | $415354.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Soltec Power Holdings SA          | Soltec Power Holdings SA                                                    | CUSIP: 000000000<br>LEI: 959800L6L2B2GGN73292 | Long             | EC               | CORP              | ES        |     84100 | NS      | $15798.03     | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Franco-Nevada Corp                | Franco-Nevada Corp                                                          | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |     58000 | NS      | $12928780.00  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp               | Barrick Mining Corp                                                         | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    475345 | NS      | $15577055.65  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                      | Glencore PLC                                                                | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   2870100 | NS      | $13218602.50  | 2.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc            | Diamondback Energy Inc                                                      | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     16811 | NS      | $2405654.10   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio        | Invesco Treasury Portfolio                                                  | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | EC               | RF                | US        |   4652616 | NS      | $4652616.46   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp             | Antero Resources Corp                                                       | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     61400 | NS      | $2060584.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co              | Commercial Metals Co                                                        | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     47300 | NS      | $2709344.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp          | Pan American Silver Corp                                                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    229500 | NS      | $8888535.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                        | Alcoa Corp                                                                  | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    193400 | NS      | $6360926.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                   | Weyerhaeuser Co                                                             | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |    309800 | NS      | $7679942.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Yellow Cake PLC                   | Yellow Cake PLC                                                             | CUSIP: 000000000<br>LEI: 213800CVMYUGOA9EZY95 | Long             | EC               | CORP              | JE        |    917600 | NS      | $7085778.66   | 1.33%             |  |  |  | No            |                  2 | On Loan: —       |
| Teck Resources Ltd                | Teck Resources Ltd                                                          | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |    130500 | NS      | $5727645.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Expand Energy Corp                | Expand Energy Corp                                                          | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     95600 | NS      | $10156544.00  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc            | Ormat Technologies Inc                                                      | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |    126840 | NS      | $12208350.00  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC                | Anglo American PLC                                                          | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |    351010 | NS      | $13235639.42  | 2.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                | Cenovus Energy Inc                                                          | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |    134600 | NS      | $2286854.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| First Quantum Minerals Ltd        | First Quantum Minerals Ltd                                                  | CUSIP: 335934105<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |    333700 | NS      | $7548233.10   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                    | ConocoPhillips                                                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     36741 | NS      | $3475331.19   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** VanEck Funds

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer