# EDGAR Filing Document

**Accession Number:** 0001137360
**File Stem:** 0001410368-25-028371
**Filing Date:** 2025-11
**Character Count:** 52352
**Document Hash:** 1819ce23fac7bb5f68fb2e186ad94b0e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-028371.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-028371

**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 ETF Trust
- **CENTRAL INDEX KEY:** 0001137360

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10325
- **FILM NUMBER:** 251507740

**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:** VanEck Vectors ETF Trust
- **DATE OF NAME CHANGE:** 20160427

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS ETF TRUST
- **DATE OF NAME CHANGE:** 20070312

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MARKET VECTORS TRUST
- **DATE OF NAME CHANGE:** 20050516

## Series and Classes Contracts Data

### VanEck Natural Resources ETF (Series ID: S000022364)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000064328 | VanEck Natural Resources ETF | HAP             |

## 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 ETF Trust

- **b. Investment Company Act file number:** 811-10325

- **c. CIK number of Registrant:** 0001137360

- **d. LEI of Registrant:** 549300ZLFKNTXC51ZN76

- **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 Natural Resources ETF

- **b. EDGAR series identifier (if any):** S000022364

- **c. LEI of Series:** 5493001Y68MF5TFNKP40

**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:** $179249402.85

**Total Liabilities:** $5161027.20

**Net Assets:** $174088375.65

**Cash Not Reported:** $513015.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000064328 | 1.00%                | 5.60%                | 3.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4489.39                | $1424919.44                                |
| Month 2  | $-74.03                  | $8216561.33                                |
| Month 3  | $1516051.85              | $3262541.11                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| China Steel Corp                   | China Steel Corp                                                            | CUSIP: 000000000<br>LEI: 529900D3N7UIJMVJ9120 | Long             | EC               | CORP              | TW        |    759672 | NS      | $484743.87    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining PLC               | Endeavour Mining PLC                                                        | CUSIP: 000000000<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |      9932 | NS      | $415744.40    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| EQT Corp                           | EQT Corp                                                                    | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      9548 | NS      | $519697.64    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Severstal PAO                      | Severstal PAO                                                               | CUSIP: 818150302<br>LEI: 213800OKDPTV6K4ONO53 | Long             | EC               | CORP              | RU        |      4118 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Shell PLC                          | Shell PLC                                                                   | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     55555 | NS      | $3973849.15   | 2.28%             |  |  |  | No            |                  1 | On Loan: —       |
| EDP SA                             | EDP SA                                                                      | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | EC               | CORP              | PT        |    169707 | NS      | $806074.55    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Boliden AB                         | Boliden AB                                                                  | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |     14092 | NS      | $575780.81    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Mexico SAB de CV             | Grupo Mexico SAB de CV                                                      | CUSIP: 000000000<br>LEI: 529900JWLZAYET2ZGW20 | Long             | EC               | CORP              | MX        |    156564 | NS      | $1364047.57   | 0.78%             |  |  |  | No            |                  1 | On Loan: —       |
| Rio Tinto PLC                      | Rio Tinto PLC                                                               | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     42191 | NS      | $2785027.91   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                        | Toro Co/The                                                                 | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |     12992 | NS      | $989990.40    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Tatneft PJSC                       | Tatneft PJSC                                                                | CUSIP: 876629205<br>LEI: 253400PAT768SVJMV121 | Long             | EC               | CORP              | RU        |      2680 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Barito Renewables Energy Tbk PT    | Barito Renewables Energy Tbk PT                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ID        |   1240200 | NS      | $697682.27    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzano SA                          | Suzano SA                                                                   | CUSIP: 86959K105<br>LEI: 391200AW174YQSDMGG41 | Long             | EC               | CORP              | BR        |     57294 | NS      | $538563.60    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| Stora Enso Oyj                     | Stora Enso Oyj                                                              | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | EC               | CORP              | FI        |     42301 | NS      | $465895.11    | 0.27%             |  |  |  | No            |                  2 | On Loan: —       |
| Industrias Penoles SAB de CV       | Industrias Penoles SAB de CV                                                | CUSIP: 000000000<br>LEI: 549300WA2HB7776CB324 | Long             | EC               | CORP              | MX        |     11400 | NS      | $508981.32    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Svenska Cellulosa AB SCA           | Svenska Cellulosa AB SCA                                                    | CUSIP: 000000000<br>LEI: 549300FW5JDRV1IJ0M67 | Long             | EC               | CORP              | SE        |     37866 | NS      | $501709.08    | 0.29%             |  |  |  | No            |                  2 | On Loan: —       |
| Novolipetsk Steel PJSC             | Novolipetsk Steel PJSC                                                      | CUSIP: 000000000<br>LEI: 213800913TPW32I84456 | Long             | EC               | CORP              | RU        |     26910 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                 | Valero Energy Corp                                                          | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      5494 | NS      | $935408.44    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                     | Royal Gold Inc                                                              | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      2331 | NS      | $467551.98    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp            | Marathon Petroleum Corp                                                     | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      5388 | NS      | $1038483.12   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                 | NextEra Energy Inc                                                          | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     94663 | NS      | $7146109.87   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Mowi ASA                           | Mowi ASA                                                                    | CUSIP: 000000000<br>LEI: 549300W1OGQF5LZIH349 | Long             | EC               | CORP              | NO        |     70444 | NS      | $1490546.46   | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Schlumberger NV                    | Schlumberger NV                                                             | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     25867 | NS      | $889048.79    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp               | Southern Copper Corp                                                        | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      5234 | NS      | $635198.24    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Klabin SA                          | Klabin SA                                                                   | CUSIP: 000000000<br>LEI: 254900C8UYA6YUPSDU10 | Long             | EC               | CORP              | BR        |    131300 | NS      | $444771.34    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto Ltd                      | Rio Tinto Ltd                                                               | CUSIP: 000000000<br>LEI: 529900X2VMAQT2PE0V24 | Long             | EC               | CORP              | AU        |     12914 | NS      | $1043335.06   | 0.60%             |  |  |  | No            |                  2 | On Loan: —       |
| Anglogold Ashanti Plc              | Anglogold Ashanti Plc                                                       | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     19488 | NS      | $1370591.04   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                  | EOG Resources Inc                                                           | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      7990 | NS      | $895838.80    | 0.51%             |  |  |  | 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        |   5026064 | NS      | $5026063.60   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                        | Nutrien Ltd                                                                 | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     68984 | NS      | $4050050.64   | 2.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Williams Cos Inc/The               | Williams Cos Inc/The                                                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     21224 | NS      | $1344540.40   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd               | Evolution Mining Ltd                                                        | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |     66965 | NS      | $478119.40    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola SA                       | Iberdrola SA                                                                | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    335742 | NS      | $6360511.68   | 3.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Northern Star Resources Ltd        | Northern Star Resources Ltd                                                 | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |     57944 | NS      | $906248.94    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Cheniere Energy Inc                | Cheniere Energy Inc                                                         | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      4300 | NS      | $1010414.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                      | Mosaic Co/The                                                               | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     43677 | NS      | $1514718.36   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd             | Agnico Eagle Mines Ltd                                                      | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |     23180 | NS      | $3907220.80   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO Corp                          | AGCO Corp                                                                   | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |      8295 | NS      | $888145.65    | 0.51%             |  |  |  | No            |                  1 | On Loan: —       |
| Nucor Corp                         | Nucor Corp                                                                  | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |      7232 | NS      | $979429.76    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Evraz PLC                          | Evraz PLC                                                                   | CUSIP: 000000000<br>LEI: 5493005B7DAN39RXLK23 | Long             | EC               | CORP              | GB        |     10824 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Corteva Inc                        | Corteva Inc                                                                 | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     72179 | NS      | $4881465.77   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Surgutneftegas PAO                 | Surgutneftegas PAO                                                          | CUSIP: 000000000<br>LEI: 2138002GZLU65FRAC894 | Long             | EC               | CORP              | RU        |    371430 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Meridian Energy Ltd                | Meridian Energy Ltd                                                         | CUSIP: 000000000<br>LEI: 254900IFKXIGNCY3A092 | Long             | EC               | CORP              | NZ        |    120605 | NS      | $390063.13    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Phillips 66                        | Phillips 66                                                                 | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      7364 | NS      | $1001651.28   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                  | CNH Industrial NV                                                           | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |    104109 | NS      | $1129582.65   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Kubota Corp                        | Kubota Corp                                                                 | CUSIP: 000000000<br>LEI: 549300CSY4INHEHQQT13 | Long             | EC               | CORP              | JP        |    150800 | NS      | $1897278.40   | 1.09%             |  |  |  | No            |                  2 | On Loan: —       |
| Enlight Renewable Energy Ltd       | Enlight Renewable Energy Ltd                                                | CUSIP: 000000000<br>LEI: 984500HF6A99N758F734 | Long             | EC               | CORP              | IL        |         1 | NS      | $24.67        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oji Holdings Corp                  | Oji Holdings Corp                                                           | CUSIP: 000000000<br>LEI: 529900LVC9GIIYUGE243 | Long             | EC               | CORP              | JP        |     74676 | NS      | $409142.30    | 0.24%             |  |  |  | No            |                  2 | On Loan: —       |
| Archer-Daniels-Midland Co          | Archer-Daniels-Midland Co                                                   | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     42784 | NS      | $2555916.16   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                    | Baker Hughes Co                                                             | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13649 | NS      | $664979.28    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp                  | Kinross Gold Corp                                                           | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |     50976 | NS      | $1266753.60   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc            | Darling Ingredients Inc                                                     | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     27503 | NS      | $849017.61    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                        | Equinor ASA                                                                 | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |     20128 | NS      | $490720.64    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MMC Norilsk Nickel PJSC            | MMC Norilsk Nickel PJSC                                                     | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |        17 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Targa Resources Corp               | Targa Resources Corp                                                        | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      3572 | NS      | $598452.88    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                    | Tyson Foods Inc                                                             | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     37135 | NS      | $2016430.50   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                      | Ingredion Inc                                                               | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |      9740 | NS      | $1189351.40   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| PhosAgro PJSC                      | PhosAgro PJSC                                                               | CUSIP: 000000000<br>LEI: 25340053KRUNNYUWF472 | Long             | EC               | CORP              | RU        |      4623 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Occidental Petroleum Corp          | Occidental Petroleum Corp                                                   | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     14086 | NS      | $665563.50    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Northland Power Inc                | Northland Power Inc                                                         | CUSIP: 666511100<br>LEI: 8945002IJ77NEBK48M81 | Long             | EC               | CORP              | CA        |     23377 | NS      | $391464.78    | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Gold Fields Ltd                    | Gold Fields Ltd                                                             | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     32915 | NS      | $1381113.40   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                       | Newmont Corp                                                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     39218 | NS      | $3306469.58   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                       | Chevron Corp                                                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53670 | NS      | $8334414.30   | 4.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc                  | Suncor Energy Inc                                                           | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     26969 | NS      | $1127573.89   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp                  | Bloom Energy Corp                                                           | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     10832 | NS      | $916062.24    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Orsted AS                          | Orsted AS                                                                   | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | EC               | CORP              | DK        |    191550 | NS      | $190862.53    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Rosneft Oil Co PJSC                | Rosneft Oil Co PJSC                                                         | CUSIP: 000000000<br>LEI: 253400JT3MQWNDKMJE44 | Long             | EC               | CORP              | RU        |     13000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras | Petroleo Brasileiro SA - Petrobras                                          | CUSIP: 71654V101<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |     50040 | NS      | $591472.80    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                   | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     75276 | NS      | $8487369.00   | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Dynamics Inc                 | Steel Dynamics Inc                                                          | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |      6204 | NS      | $865023.72    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                            | Eni SpA                                                                     | CUSIP: 26874R108<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     26491 | NS      | $925860.45    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| JFE Holdings Inc                   | JFE Holdings Inc                                                            | CUSIP: 000000000<br>LEI: 3538002Y11Y03NA9B530 | Long             | EC               | CORP              | JP        |     34564 | NS      | $424713.33    | 0.24%             |  |  |  | No            |                  2 | On Loan: —       |
| TC Energy Corp                     | TC Energy Corp                                                              | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     18922 | NS      | $1029546.02   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                   | ArcelorMittal SA                                                            | CUSIP: 03938L203<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |     22697 | NS      | $820496.55    | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| Vestas Wind Systems A/S            | Vestas Wind Systems A/S                                                     | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |     60495 | NS      | $1151760.49   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Coeur Mining Inc                   | Coeur Mining Inc                                                            | CUSIP: 192108504<br>LEI: 5493003AVK173D48DR70 | Long             | EC               | CORP              | US        |     30629 | NS      | $574600.04    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PhosAgro PJSC                      | PhosAgro PJSC                                                               | CUSIP: 71922G308<br>LEI: 25340053KRUNNYUWF472 | Long             | EC               | CORP              | RU        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GMK Norilskiy Nickel PAO           | GMK Norilskiy Nickel PAO                                                    | CUSIP: 000000000<br>LEI: 253400JPTEEW143W3E47 | Long             | EC               | CORP              | RU        |    128400 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Harmony Gold Mining Co Ltd         | Harmony Gold Mining Co Ltd                                                  | CUSIP: 413216300<br>LEI: 378900986D05F0C29811 | Long             | EC               | CORP              | ZA        |     25560 | NS      | $463914.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| West Fraser Timber Co Ltd          | West Fraser Timber Co Ltd                                                   | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |      4812 | NS      | $327119.76    | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| Antofagasta PLC                    | Antofagasta PLC                                                             | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Long             | EC               | CORP              | GB        |     21420 | NS      | $797407.86    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Cameco Corp                        | Cameco Corp                                                                 | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     18838 | NS      | $1579754.68   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                    | Bunge Global SA                                                             | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |     17079 | NS      | $1387668.75   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd           | Wilmar International Ltd                                                    | CUSIP: 000000000<br>LEI: 549300H2EAI4YRLWBB20 | Long             | EC               | CORP              | SG        |    525664 | NS      | $1163180.83   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Gazprom PJSC                       | Gazprom PJSC                                                                | CUSIP: 000000000<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |    125520 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Alamos Gold Inc                    | Alamos Gold Inc                                                             | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     20895 | NS      | $728399.70    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Ltd     | Canadian Natural Resources Ltd                                              | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     38383 | NS      | $1226720.68   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                  | Kinder Morgan Inc                                                           | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     35664 | NS      | $1009647.84   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc               | Freeport-McMoRan Inc                                                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     51986 | NS      | $2038890.92   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                            | Vale SA                                                                     | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |    161503 | NS      | $1753922.58   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp             | Louisiana-Pacific Corp                                                      | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      4417 | NS      | $392406.28    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                         | Deere & Co                                                                  | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |     17967 | NS      | $8215590.42   | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd            | Reliance Industries Ltd                                                     | CUSIP: 759470107<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     33232 | NS      | $2029951.50   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Lundin Gold Inc                    | Lundin Gold Inc                                                             | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |      5442 | NS      | $352670.07    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                    | First Solar Inc                                                             | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      5215 | NS      | $1150063.95   | 0.66%             |  |  |  | No            |                  1 | On Loan: —       |
| UFP Industries Inc                 | UFP Industries Inc                                                          | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      3941 | NS      | $368444.09    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| China Hongqiao Group Ltd           | China Hongqiao Group Ltd                                                    | CUSIP: 000000000<br>LEI: 3003009Q4IBFSDE24571 | Long             | EC               | CORP              | KY        |    161000 | NS      | $545388.82    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Nippon Steel Corp                  | Nippon Steel Corp                                                           | CUSIP: 000000000<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |    253000 | NS      | $1043452.91   | 0.60%             |  |  |  | No            |                  2 | On Loan: —       |
| Orsted AS                          | Orsted AS                                                                   | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | EC               | CORP              | DK        |     15088 | NS      | $262666.42    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer AG                           | Bayer AG                                                                    | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |    139211 | NS      | $4638243.66   | 2.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Devon Energy Corp                  | Devon Energy Corp                                                           | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     12483 | NS      | $437653.98    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Valterra Platinum Ltd              | Valterra Platinum Ltd                                                       | CUSIP: 000000000<br>LEI: 529900RORCZ0E5S5FX81 | Long             | EC               | CORP              | ZA        |     10908 | NS      | $779235.60    | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| LUKOIL PJSC                        | LUKOIL PJSC                                                                 | CUSIP: 000000000<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |      3739 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Franco-Nevada Corp                 | Franco-Nevada Corp                                                          | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      7669 | NS      | $1709496.79   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| PHOSAGRO PJSC                      | PHOSAGRO PJSC                                                               | CUSIP: 000000000<br>LEI: 25340053KRUNNYUWF472 | Long             | EC               | CORP              | RU        |        89 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Fortescue Ltd                      | Fortescue Ltd                                                               | CUSIP: 000000000<br>LEI: 529900VEJFORCO6I4826 | Long             | EC               | CORP              | AU        |     84309 | NS      | $1045777.02   | 0.60%             |  |  |  | No            |                  2 | On Loan: —       |
| Novatek PJSC                       | Novatek PJSC                                                                | CUSIP: 000000000<br>LEI: 2138008R6GCRVBDFA581 | Long             | EC               | CORP              | RU        |     19580 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Barrick Mining Corp                | Barrick Mining Corp                                                         | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     75615 | NS      | $2477903.55   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc         | CF Industries Holdings Inc                                                  | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     20565 | NS      | $1844680.50   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp       | Wheaton Precious Metals Corp                                                | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     15744 | NS      | $1760808.96   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                   | TotalEnergies SE                                                            | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     48361 | NS      | $2886668.09   | 1.66%             |  |  |  | No            |                  1 | On Loan: —       |
| Glencore PLC                       | Glencore PLC                                                                | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |    364828 | NS      | $1681948.21   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Diamondback Energy Inc             | Diamondback Energy Inc                                                      | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      3892 | NS      | $556945.20    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrais Eletricas Brasileiras SA  | Centrais Eletricas Brasileiras SA                                           | CUSIP: 15234Q207<br>LEI: 254900I8KYDELP4B4Z08 | Long             | EC               | CORP              | BR        |     90755 | NS      | $900289.60    | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| UPM-Kymmene Oyj                    | UPM-Kymmene Oyj                                                             | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |     36575 | NS      | $1002475.65   | 0.58%             |  |  |  | No            |                  2 | On Loan: —       |
| BP PLC                             | BP PLC                                                                      | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     52573 | NS      | $1811665.58   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                  | Equinox Gold Corp                                                           | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |     43419 | NS      | $487161.18    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp           | Pan American Silver Corp                                                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     20450 | NS      | $792028.50    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corp              | Pembina Pipeline Corp                                                       | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |     13213 | NS      | $534597.98    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| IAMGOLD Corp                       | IAMGOLD Corp                                                                | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |     34066 | NS      | $440473.38    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                    | Weyerhaeuser Co                                                             | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |     33217 | NS      | $823449.43    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Teck Resources Ltd                 | Teck Resources Ltd                                                          | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |     23250 | NS      | $1020442.50   | 0.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Anglo American PLC                 | Anglo American PLC                                                          | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |     45106 | NS      | $1702533.62   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Holmen AB                          | Holmen AB                                                                   | CUSIP: 000000000<br>LEI: 52990080SH3454F0QE68 | Long             | EC               | CORP              | SE        |      8935 | NS      | $339812.27    | 0.20%             |  |  |  | No            |                  2 | On Loan: —       |
| Yara International ASA             | Yara International ASA                                                      | CUSIP: 000000000<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | EC               | CORP              | NO        |     29286 | NS      | $1073636.22   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Contact Energy Ltd                 | Contact Energy Ltd                                                          | CUSIP: 000000000<br>LEI: 549300FT5JOXS1PZ1I32 | Long             | EC               | CORP              | NZ        |     74321 | NS      | $392742.33    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                      | BHP Group Ltd                                                               | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     87028 | NS      | $4851811.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: —       |
| Reliance Inc                       | Reliance Inc                                                                | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      2077 | NS      | $583283.91    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                          | ONEOK Inc                                                                   | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     11207 | NS      | $817774.79    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Impala Platinum Holdings Ltd       | Impala Platinum Holdings Ltd                                                | CUSIP: 000000000<br>LEI: 254900BZFIFB4PD2Z778 | Long             | EC               | CORP              | ZA        |     40417 | NS      | $515952.58    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge Inc                       | Enbridge Inc                                                                | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     47133 | NS      | $2378331.18   | 1.37%             |  |  |  | No            |                  1 | On Loan: —       |
| POSCO Holdings Inc                 | POSCO Holdings Inc                                                          | CUSIP: 693483109<br>LEI: 988400E5HRVX81AYLM04 | Long             | EC               | CORP              | KR        |     15034 | NS      | $739823.14    | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| Polyus PJSC                        | Polyus PJSC                                                                 | CUSIP: 000000000<br>LEI: 549300FUXVT7TF6ZKV71 | Long             | EC               | CORP              | RU        |      1669 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ConocoPhillips                     | ConocoPhillips                                                              | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     21968 | NS      | $2077953.12   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodside Energy Group Ltd          | Woodside Energy Group Ltd                                                   | CUSIP: 980228308<br>LEI: 2549005ZC5RXAOO7FH41 | Long             | EC               | CORP              | AU        |     35385 | NS      | $532544.25    | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

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

**Name of Applicant:** VanEck ETF Trust

**Signature:** James Parker

**Name of Signer:** James Parker

**Title:** Assistant Treasurer