# EDGAR Filing Document

**Accession Number:** 0000811976
**File Stem:** 0001410368-25-028344
**Filing Date:** 2025-11
**Character Count:** 34747
**Document Hash:** a9cada2d13a22c0d7732233c928784bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-028344.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-028344

**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 VIP Trust
- **CENTRAL INDEX KEY:** 0000811976

**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:** 811-05083
- **FILM NUMBER:** 251507697

**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 VIP TRUST
- **DATE OF NAME CHANGE:** 20100503

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VAN ECK WORLDWIDE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19950328

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

## Series and Classes Contracts Data

### VanEck VIP Global Resources Fund (Series ID: S000009222)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000025041 | Initial Class |  |
| C000025043 | S Class       |  |

## Nport-Ex

VANECK

VIP

GLOBAL

RESOURCES

FUND

SCHEDULE

OF

INVESTMENTS

September

30,

2025

(unaudited)

#### Number

#### of

#### Shares

#### Value

#### COMMON

#### STOCKS:

#### 96.4%

#### Australia

#### :

#### 2.9%
Glencore

PLC

(GBP)

1,714,200

$

7,894,961

Rio

Tinto

PLC

(ADR)

24,700

1,630,447

9,525,408

#### Belgium

#### :

#### 0.8%
Titan

America

SA

(USD)

169,400

2,530,836

Underline

#### Brazil

#### :

#### 1.7%
Suzano

SA \*

589,700

5,528,870

Underline

#### Canada

#### :

#### 24.5%
Agnico

Eagle

Mines

Ltd.

(USD)

61,722

10,403,860

Alamos

Gold,

Inc.

(USD)

180,300

6,285,258

ARC

Resources

Ltd.

69,700

1,271,097

Barrick

Mining

Corp.

(USD)

284,074

9,309,105

Cameco

Corp.

(USD)

37,900

3,178,294

Capstone

Copper

Corp. \*

†

486,100

4,128,549

Cenovus

Energy,

Inc.

(USD) †

80,400

1,365,996

Franco-Nevada

Corp.

(USD)

34,600

7,712,686

Kinross

Gold

Corp.

(USD)

429,500

10,673,075

NGEx

Minerals

Ltd. \*

13,303

248,051

Nutrien

Ltd.

(USD)

147,265

8,645,928

Pan

American

Silver

Corp.

(USD)

137,100

5,309,883

Suncor

Energy,

Inc.

117,000

4,896,228

Teck

Resources

Ltd.

(USD) †

77,900

3,419,031

West

Fraser

Timber

Co.

Ltd. †

48,800

3,317,503

80,164,544

#### China

#### :

#### 1.1%
PetroChina

Co.

Ltd.

(HKD)

3,877,000

3,514,753

Underline

#### France

#### :

#### 3.8%
Nexans

SA

27,400

4,080,235

TotalEnergies

SE

138,000

8,405,389

12,485,624

#### Jersey,

#### Channel

#### Islands

#### :

#### 1.3%
Yellow

Cake

PLC

144A \*

545,400

4,211,621

Underline

#### Liechtenstein

#### :

#### 0.4%
Antofagasta

PLC

(GBP)

34,300

1,275,614

Underline

#### Luxembourg

#### :

#### 1.4%
ArcelorMittal

SA

(USD)

131,700

4,760,955

Underline

#### Netherlands

#### :

#### 2.9%
JBS

NV

(USD) \*

637,950

9,524,594

Underline

#### South

#### Africa

#### :

#### 6.6%
Anglo

American

PLC

(GBP)

209,777

7,910,124

Gold

Fields

Ltd.

(ADR)

166,300

6,977,948

Northam

Platinum

Holdings

Ltd.

176,511

2,863,800

Valterra

Platinum

Ltd.

(GBP) †

52,728

3,758,435

21,510,307

#### Spain

#### :

#### 0.0%
Soltec

Power

Holdings

SA \*

†∞

38,800

7,289

Underline

#### Number

#### of

#### Shares

#### Value

#### United

#### Kingdom

#### :

#### 4.3%
Shell

PLC

(ADR)

196,000

$

14,019,879

Underline

#### United

#### States

#### :

#### 43.3%
Alcoa

Corp.

115,600

3,802,084

Antero

Resources

Corp. \*

36,700

1,231,652

Archer-Daniels-Midland

Co.

46,900

2,801,806

Baker

Hughes

Co.

31,600

1,539,552

Ball

Corp.

51,600

2,601,672

Chevron

Corp.

43,400

6,739,586

Commercial

Metals

Co.

28,300

1,621,024

ConocoPhillips

21,843

2,066,129

Corteva,

Inc.

56,433

3,816,564

Diamondback

Energy,

Inc.

9,788

1,400,663

Energy

Fuels,

Inc. \*

†

59,800

917,930

EQT

Corp.

117,700

6,406,411

Expand

Energy

Corp.

57,100

6,066,304

Exxon

Mobil

Corp.

114,726

12,935,356

Flowco

Holdings,

Inc.

16,690

247,846

FMC

Corp.

168,900

5,680,107

Freeport-McMoRan,

Inc.

225,639

8,849,562

Graphic

Packaging

Holding

Co. †

100,700

1,970,699

Hormel

Foods

Corp.

87,300

2,159,802

Ivanhoe

Electric,

Inc.

/

US \*

168,300

2,112,165

Kirby

Corp. \*

42,300

3,529,935

Marathon

Petroleum

Corp.

17,600

3,392,224

MasTec,

Inc. \*

10,200

2,170,662

Mosaic

Co.

164,700

5,711,796

Newmont

Corp.

114,496

9,653,158

Ormat

Technologies,

Inc.

75,780

7,293,825

Permian

Resources

Corp.

107,549

1,376,627

Phillips

48,300

6,569,766

Solaris

Energy

Infrastructure,

Inc.

124,500

4,976,265

Steel

Dynamics,

Inc.

10,400

1,450,072

Tyson

Foods,

Inc.

120,300

6,532,290

Uranium

Energy

Corp. \*

59,900

799,066

Valero

Energy

Corp.

43,600

7,423,336

WaterBridge

Infrastructure

LLC \*

45,400

1,144,988

Weyerhaeuser

Co.

185,000

4,586,150

141,577,074

#### Zambia

#### :

#### 1.4%
First

Quantum

Minerals

Ltd.

(CAD) \*

199,300

4,508,130

Underline

#### Total

#### Common

#### Stocks
(Cost:

$228,492,667)

315,145,498

#### MONEY

#### MARKET

#### FUND

#### :

#### 1.4%
Invesco

Treasury

Portfolio

-

Institutional

Class

3.99%(a)

4,460,652

4,460,652

Underline

#### Total

#### Investments

#### Before

#### Collateral

#### for

#### Securities

#### Loaned:

#### 97.8%
(Cost:

$232,953,319)

319,606,150

VANECK

VIP

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:

$74,739)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

4.18%(b)

74,739

$

74,739

#### Total

#### Investments:

#### 97.8%
(Cost:

$233,028,058)

319,680,889

#### Other

#### assets

#### less

#### liabilities:

#### 2.2%
7,056,714

#### NET

#### ASSETS:

#### 100.0%
$

326,737,603

#### 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

$12,563,264.

∞

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

in

the

fair

value

hierarchy.

(a) Rate

shown

is

the

7-day

yield

as

of

09/30/25.

(b) Rate

shown

is

the

1-day

yield

as

of

09/30/25.

## 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 VIP Trust

- **b. Investment Company Act file number:** 811-05083

- **c. CIK number of Registrant:** 0000811976

- **d. LEI of Registrant:** 549300B6PVLDT5B57N02

- **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:** VanEck VIP Global Resources Fund

- **b. EDGAR series identifier (if any):** S000009222

- **c. LEI of Series:** 549300OZA4RCKLL20T93

**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:** $321078474.34

**Total Liabilities:** $1390751.38

**Net Assets:** $319687722.96

**Cash Not Reported:** $3531.56

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025043 | -0.29%               | 7.26%                | 5.44%                |
| Class ID C000025041 | -0.28%               | 7.30%                | 5.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1484502.33             | $758027.00                                 |
| Month 2  | $1191807.67              | $18708912.60                               |
| Month 3  | $1555209.40              | $14557713.67                               |

### 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        |    168900 | NS      | $5680107.00   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                          | EQT Corp                                                                    | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    117700 | NS      | $6406411.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                         | Shell PLC                                                                   | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    196000 | NS      | $14019880.00  | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                     | Rio Tinto PLC                                                               | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     24700 | NS      | $1630447.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NGEx Minerals Ltd                 | NGEx Minerals Ltd                                                           | CUSIP: 65343P103<br>LEI: 549300M2DU5ORAGOIG27 | Long             | EC               | CORP              | CA        |      8998 | NS      | $167779.05    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzano SA                         | Suzano SA                                                                   | CUSIP: 000000000<br>LEI: 391200AW174YQSDMGG41 | Long             | EC               | CORP              | BR        |    589700 | NS      | $5528870.31   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp               | Uranium Energy Corp                                                         | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |     59900 | NS      | $799066.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| JBS NV                            | JBS NV                                                                      | CUSIP: 000000000<br>LEI: 254900JSFON4WL81TW77 | Long             | EC               | CORP              | NL        |    637950 | NS      | $9524593.50   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc / US         | Ivanhoe Electric Inc / US                                                   | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    168300 | NS      | $2112165.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                | Valero Energy Corp                                                          | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     43600 | NS      | $7423336.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp           | Marathon Petroleum Corp                                                     | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |     17600 | NS      | $3392224.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ball Corp                         | Ball Corp                                                                   | CUSIP: 058498106<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | EC               | CORP              | US        |     51600 | NS      | $2601672.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp            | Permian Resources Corp                                                      | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    107549 | NS      | $1376627.20   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ARC Resources Ltd                 | ARC Resources Ltd                                                           | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |     69700 | NS      | $1271097.22   | 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        |     66950 | NS      | $66950.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                       | Nutrien Ltd                                                                 | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |    147265 | NS      | $8645928.15   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| West Fraser Timber Co Ltd         | West Fraser Timber Co Ltd                                                   | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |     48800 | NS      | $3317502.34   | 1.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Mosaic Co/The                     | Mosaic Co/The                                                               | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |    164700 | NS      | $5711796.00   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd            | Agnico Eagle Mines Ltd                                                      | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     61722 | NS      | $10403860.32  | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc/Canada           | Energy Fuels Inc/Canada                                                     | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |     59800 | NS      | $917930.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Capstone Copper Corp              | Capstone Copper Corp                                                        | CUSIP: 14071L108<br>LEI: 549300III6KGKKC42W63 | Long             | EC               | CORP              | CA        |    486100 | NS      | $4128549.26   | 1.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Graphic Packaging Holding Co      | Graphic Packaging Holding Co                                                | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100700 | NS      | $1970699.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| Corteva Inc                       | Corteva Inc                                                                 | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     56433 | NS      | $3816563.79   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                       | Phillips 66                                                                 | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     48300 | NS      | $6569766.00   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co         | Archer-Daniels-Midland Co                                                   | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     46900 | NS      | $2801806.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                   | Baker Hughes Co                                                             | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31600 | NS      | $1539552.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp                 | Kinross Gold Corp                                                           | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    429500 | NS      | $10673075.00  | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                  | TotalEnergies SE                                                            | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    138000 | NS      | $8405388.76   | 2.63%             |  |  |  | No            |                  2 | On Loan: No      |
| MasTec Inc                        | MasTec Inc                                                                  | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     10200 | NS      | $2170662.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure Inc | Solaris Energy Infrastructure Inc                                           | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |    124500 | NS      | $4976265.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                 | Suncor Energy Inc                                                           | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    117000 | NS      | $4896227.64   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                   | Tyson Foods Inc                                                             | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |    120300 | NS      | $6532290.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                   | Gold Fields Ltd                                                             | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |    166300 | NS      | $6977948.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                      | Newmont Corp                                                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    114496 | NS      | $9653157.76   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Northam Platinum Holdings Ltd     | Northam Platinum Holdings Ltd                                               | CUSIP: 000000000<br>LEI: 3789009D0712C7101695 | Long             | EC               | CORP              | ZA        |    176511 | NS      | $2863800.54   | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp                      | Chevron Corp                                                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43400 | NS      | $6739586.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                  | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    114726 | NS      | $12935356.50  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan America SA                  | Titan America SA                                                            | CUSIP: 000000000<br>LEI: 9845007APCB6462D6C46 | Long             | EC               | CORP              | BE        |    169400 | NS      | $2530836.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                | Steel Dynamics Inc                                                          | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |     10400 | NS      | $1450072.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                  | ArcelorMittal SA                                                            | CUSIP: 03938L203<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |    131700 | NS      | $4760955.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirby Corp                        | Kirby Corp                                                                  | CUSIP: 497266106<br>LEI: I7NO6FZO5GUCG585T325 | Long             | EC               | CORP              | US        |     42300 | NS      | $3529935.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WaterBridge Infrastructure LLC    | WaterBridge Infrastructure LLC                                              | CUSIP: 940923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89000 | NS      | $2244580.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Antofagasta PLC                   | Antofagasta PLC                                                             | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Long             | EC               | CORP              | GB        |     34300 | NS      | $1275613.84   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Hormel Foods Corp                 | Hormel Foods Corp                                                           | CUSIP: 440452100<br>LEI: MSD54751OJP1FS2ND863 | Long             | EC               | CORP              | US        |     87300 | NS      | $2159802.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                       | Cameco Corp                                                                 | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     37900 | NS      | $3178294.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                   | Alamos Gold Inc                                                             | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    180300 | NS      | $6285258.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexans SA                         | Nexans SA                                                                   | CUSIP: 000000000<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |     27400 | NS      | $4080234.74   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| PetroChina Co Ltd                 | PetroChina Co Ltd                                                           | CUSIP: 000000000<br>LEI: 529900RPY4YG47TRSV05 | Long             | EC               | CORP              | CN        |   3877000 | NS      | $3514752.75   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc              | Freeport-McMoRan Inc                                                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    225639 | NS      | $8849561.58   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Valterra Platinum Ltd             | Valterra Platinum Ltd                                                       | CUSIP: 000000000<br>LEI: 529900RORCZ0E5S5FX81 | Long             | EC               | CORP              | ZA        |     52728 | NS      | $3758434.54   | 1.18%             |  |  |  | No            |                  1 | On Loan: —       |
| Flowco Holdings Inc               | Flowco Holdings Inc                                                         | CUSIP: 342909108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16690 | NS      | $247846.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Soltec Power Holdings SA          | Soltec Power Holdings SA                                                    | CUSIP: 000000000<br>LEI: 959800L6L2B2GGN73292 | Long             | EC               | CORP              | ES        |     38800 | NS      | $7288.51      | 0.00%             |  |  |  | No            |                  3 | On Loan: —       |
| Franco-Nevada Corp                | Franco-Nevada Corp                                                          | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |     34600 | NS      | $7712686.00   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp               | Barrick Mining Corp                                                         | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    284074 | NS      | $9309104.98   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                      | Glencore PLC                                                                | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   1714200 | NS      | $7894961.29   | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc            | Diamondback Energy Inc                                                      | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      9788 | NS      | $1400662.80   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Treasury Portfolio        | Invesco Treasury Portfolio                                                  | CUSIP: 825252406<br>LEI: 5493004B3TM8ZIDDDC39 | Long             | EC               | RF                | US        |   4460652 | NS      | $4460651.63   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp             | Antero Resources Corp                                                       | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     36700 | NS      | $1231652.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Metals Co              | Commercial Metals Co                                                        | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |     28300 | NS      | $1621024.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp          | Pan American Silver Corp                                                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    137100 | NS      | $5309883.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Corp                        | Alcoa Corp                                                                  | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |    115600 | NS      | $3802084.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                   | Weyerhaeuser Co                                                             | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |    185000 | NS      | $4586150.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Yellow Cake PLC                   | Yellow Cake PLC                                                             | CUSIP: 000000000<br>LEI: 213800CVMYUGOA9EZY95 | Long             | EC               | CORP              | JE        |    545400 | NS      | $4211621.28   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Teck Resources Ltd                | Teck Resources Ltd                                                          | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |     77900 | NS      | $3419031.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Expand Energy Corp                | Expand Energy Corp                                                          | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     57100 | NS      | $6066304.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc            | Ormat Technologies Inc                                                      | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     75780 | NS      | $7293825.00   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC                | Anglo American PLC                                                          | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |    209777 | NS      | $7910124.30   | 2.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Cenovus Energy Inc                | Cenovus Energy Inc                                                          | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     80400 | NS      | $1365996.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| First Quantum Minerals Ltd        | First Quantum Minerals Ltd                                                  | CUSIP: 335934105<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |    199300 | NS      | $4508129.63   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                    | ConocoPhillips                                                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     21843 | NS      | $2066129.37   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** VanEck VIP Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer