VANECK
JUNIOR
GOLD
MINERS
ETF
SCHEDULE
OF
INVESTMENTS
March
31,
2024
(unaudited)
1
Number
of
Shares
Value
COMMON
STOCKS
:
99.9%
Australia
:
17.3%
Alkane
Resources
Ltd. *
†
20,334,527
$
8,300,743
Aurelia
Metals
Ltd. *
†
60,951,453
6,155,659
Australian
Strategic
Materials
Ltd. *
1
1
Bellevue
Gold
Ltd. *
†
36,959,527
45,504,429
Capricorn
Metals
Ltd. *
†
13,972,428
46,923,049
De
Grey
Mining
Ltd. *
†
65,159,879
53,827,142
Emerald
Resources
NL *
†
19,943,255
38,167,304
Evolution
Mining
Ltd.
56,551,929
132,321,823
Firefinch
Ltd. *
†∞
54,133,739
1,589,258
Genesis
Minerals
Ltd. *
†
27,749,187
33,603,103
Gold
Road
Resources
Ltd.
43,141,857
44,539,209
Kingsgate
Consolidated
Ltd. *
†
11,621,686
9,274,333
OceanaGold
Corp.
(CAD)
23,678,926
53,543,332
Perseus
Mining
Ltd.
52,265,927
73,375,837
Ramelius
Resources
Ltd.
46,037,504
55,944,325
Red
5
Ltd. *
†
105,214,715
26,123,253
Regis
Resources
Ltd. *
†
28,679,738
37,739,178
Resolute
Mining
Ltd. *
67,702,423
19,010,849
Silver
Lake
Resources
Ltd. *
35,048,021
28,370,888
Silver
Mines
Ltd. *
†
69,614,496
7,715,445
Tietto
Minerals
Ltd. *
39,683,653
15,934,928
West
African
Resources
Ltd. *
†
32,157,158
25,209,203
Westgold
Resources
Ltd. †
17,308,802
29,644,119
792,817,410
Burkina
Faso
:
1.4%
IAMGOLD
Corp.
(USD) *
18,617,607
61,996,631
Underline
Canada
:
51.4%
Alamos
Gold,
Inc.
(USD) ‡
20,489,334
302,217,676
Archer
Exploration
Corp. *
1,075,827
31,800
Aris
Mining
Corp. *
†
5,560,747
19,970,612
Arizona
Metals
Corp. *
†
5,232,185
7,810,097
Artemis
Gold,
Inc. *
†
6,792,504
40,757,534
Aya
Gold
&
Silver,
Inc. *
†
5,628,851
48,499,836
B2Gold
Corp.
(USD)
44,521,601
116,201,379
Calibre
Mining
Corp. *
28,994,960
35,781,698
Dakota
Gold
Corp.
(USD) *
3,300,578
7,822,370
Discovery
Silver
Corp. *
†
13,527,568
7,097,412
Dundee
Precious
Metals,
Inc.
5,510,900
41,945,147
Endeavour
Silver
Corp.
(USD) *
†
9,864,287
23,772,932
Equinox
Gold
Corp.
(USD) *
†
12,585,974
75,767,563
Filo
Corp. *
†
3,515,565
61,439,580
First
Majestic
Silver
Corp.
(USD) †
12,265,634
72,121,928
Fortuna
Silver
Mines,
Inc.
(USD) *
13,096,070
48,848,341
Gold
Royalty
Corp.
(USD) †
5,435,629
10,218,982
GoldMining,
Inc.
(USD) *
†
8,720,667
7,630,584
K92
Mining,
Inc. *
†
8,563,436
39,866,726
Karora
Resources,
Inc. *
†
7,192,730
27,000,974
Kinross
Gold
Corp.
(USD)
54,894,531
336,503,475
Lundin
Gold,
Inc. †
3,953,857
55,630,103
MAG
Silver
Corp.
(USD) *
†
3,085,626
32,645,923
Number
of
Shares
Value
Canada
(continued)
McEwen
Mining,
Inc.
(USD) *
†
1,870,861
$
18,446,689
Metalla
Royalty
&
Streaming
Ltd.
(USD) †
4,111,588
12,787,039
New
Found
Gold
Corp. *
†
4,453,402
16,421,560
New
Gold,
Inc.
(USD) *
26,475,731
45,008,743
Novagold
Resources,
Inc.
(USD) *
†
8,728,409
26,185,227
Orla
Mining
Ltd.
(USD) *
†
7,493,120
28,398,925
Osisko
Gold
Royalties
Ltd.
(USD) †
6,690,476
109,857,616
Osisko
Mining,
Inc. *
14,647,062
30,089,660
Pan
American
Silver
Corp.
(USD) †
‡
18,592,090
280,368,717
Prime
Mining
Corp. *
†
5,132,243
8,305,644
Sandstorm
Gold
Ltd.
(USD) †
10,454,543
54,886,351
Seabridge
Gold,
Inc.
(USD) *
†
3,358,446
50,779,704
Silvercorp
Metals,
Inc.
(USD) †
7,982,319
26,022,360
SilverCrest
Metals,
Inc.
(USD) *
†
5,857,967
39,014,060
Skeena
Resources
Ltd. *
†
2,785,651
12,824,390
SSR
Mining,
Inc.
(USD)
7,705,940
34,368,492
Sulliden
Mining
Capital,
Inc. *
1,689,990
31,221
Torex
Gold
Resources,
Inc. *
2,853,400
42,044,556
Triple
Flag
Precious
Metals
Corp.
(USD) †
3,249,234
46,951,431
Victoria
Gold
Corp. *
1,673,644
8,187,344
Wesdome
Gold
Mines
Ltd. *
†
5,444,059
40,591,580
2,351,153,981
China
:
1.6%
Zhaojin
Mining
Industry
Co.
Ltd.
(HKD) †
54,495,200
74,258,239
Underline
Egypt
:
1.3%
Centamin
Plc
(GBP)
40,136,285
57,211,606
Underline
Indonesia
:
0.7%
Bumi
Resources
Minerals
Tbk
PT *
3,499,243,800
33,130,390
Underline
Jersey,
Channel
Islands
:
0.1%
Caledonia
Mining
Corp.
Plc
(USD)
620,617
6,870,230
Underline
Kyrgyzstan
:
1.0%
Centerra
Gold,
Inc.
(CAD)
7,484,170
44,244,123
Underline
Mexico
:
3.9%
Fresnillo
Plc
(GBP)
8,743,570
51,830,147
Industrias
Penoles
SAB
de
CV *
†
8,865,463
126,029,522
177,859,669
Peru
:
5.1%
Cia
de
Minas
Buenaventura
SAA
(ADR) ‡
13,053,796
207,294,281
VANECK
JUNIOR
GOLD
MINERS
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
2
FootnoteRuleAboveBlank
Footnotes:
Number
of
Shares
Value
Peru
(continued)
Hochschild
Mining
Plc
(GBP) *
15,138,590
$
24,287,522
231,581,803
South
Africa
:
6.0%
DRDGOLD
Ltd.
(ADR) †
984,830
8,075,606
Harmony
Gold
Mining
Co.
Ltd.
(ADR) ‡
32,562,386
266,034,694
274,110,300
Turkey
:
2.8%
Eldorado
Gold
Corp.
(USD) *
6,845,337
96,313,891
Koza
Altin
Isletmeleri
AS
45,598,845
31,520,653
127,834,544
United
Kingdom
:
2.9%
Endeavour
Mining
Plc
5,643,920
114,627,204
Greatland
Gold
Plc *
†
222,270,186
17,408,533
132,035,737
United
States
:
4.4%
Argonaut
Gold,
Inc.
(CAD) *
†
36,831,528
10,614,665
Aura
Minerals,
Inc.
(BRL)
(BDR)
1,532,185
11,414,366
Coeur
Mining,
Inc. *
†
12,649,602
47,689,000
Number
of
Shares
Value
United
States
(continued)
Gatos
Silver,
Inc. *
†
1,608,888
$
13,498,570
GoGold
Resources,
Inc.
(CAD) *
†
14,518,811
13,196,481
Hecla
Mining
Co. †
18,691,579
89,906,495
i-80
Gold
Corp. *
†
9,622,667
12,894,374
199,213,951
Total
Common
Stocks
(Cost:
$4,588,459,072)
4,564,318,614
SHORT-TERM
INVESTMENT
HELD
AS
COLLATERAL
FOR
SECURITIES
ON
LOAN:
1.9%
Money
Market
Fund:
1.9%
(Cost:
$87,426,815)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
87,426,815
87,426,815
Total
Investments:
101.8%
(Cost:
$4,675,885,887)
4,651,745,429
Liabilities
in
excess
of
other
assets:
(1.8)%
(81,645,630)
NET
ASSETS:
100.0%
$
4,570,099,799
Definitions:
ADR
American
Depositary
Receipt
BDR
Brazilian
Depositary
Receipt
BRL
Brazilian
Real
CAD
Canadian
Dollar
GBP
British
Pound
HKD
Hong
Kong
Dollar
USD
United
States
Dollar
†
Security
fully
or
partially
on
loan.
Total
market
value
of
securities
on
loan
is
$258,015,090.
*
Non-income
producing
∞
Security
is
valued
using
significant
unobservable
inputs
that
factor
in
discount
for
lack
of
marketability
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
‡
Affiliated
issuer
–
as
defined
under
the
Investment
Company
Act
of
1940.
Transactions
in
securities
of
affiliates
for
the
period
ended
March
31,
2024
were
as
follows:
Value
12/31/2023
Purchases
Sales
Proceeds
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
3/31/2024
Dividend
Income
Alamos
Gold,
Inc.
$–(a)
$37,968,479
$(6,491,528)
$3,374,447
$22,531,733
$302,217,677
$456,765
B2Gold
Corp.
233,544,410
9,469,154
(87,171,390)
(54,112,898)
14,472,103
–(b)
2,954,986
Cia
de
Minas
Buenaventura
SAA
–(a)
64,467,068
(4,120,389)
1,899,854
(1,494,591)
207,294,280
–
Harmony
Gold
Mining
Co.
Ltd.
–(a)
103,304,726
(3,379,083)
2,031,328
43,330,689
266,034,694
–
Metalla
Royalty
&
Streaming
Ltd.
10,607,277
2,350,637
(297,384)
9,027
117,482
–(b)
–
Pan
American
Silver
Corp.
319,425,235
13,971,847
(28,838,762)
(18,323,283)
(5,866,320)
280,368,717
1,924,790
$563,576,922
$231,531,911
$(130,298,536)
$(65,121,525)
$73,091,096
$1,055,915,368
$5,336,541