VanEck Semiconductor ETF (SMH) NPORT-P VanEck Morningstar Wide Moat ETF (Dec 2024 report)

VANECK

MORNINGSTAR

WIDE

MOAT

ETF

SCHEDULE

OF

INVESTMENTS

December

31,

2024

(unaudited)

1

FootnoteRuleAboveBlank

Footnotes:

Number

of

Shares

Value

COMMON

STOCKS:

99.8%

Banks

:

2.5%

US

Bancorp

8,115,084

$

388,144,468

Underline

Capital

Goods

:

15.3%

Allegion

plc

2,794,630

365,202,249

Boeing

Co. *

2,355,456

416,915,712

Emerson

Electric

Co.

1,866,523

231,318,195

Honeywell

International,

Inc.

926,211

209,221,803

Huntington

Ingalls

Industries,

Inc.

1,768,930

334,274,702

IDEX

Corp.

957,673

200,431,382

Masco

Corp.

2,504,086

181,721,521

Northrop

Grumman

Corp.

417,768

196,054,345

Otis

Worldwide

Corp.

2,065,199

191,258,079

2,326,397,988

Commercial

&

Professional

Services

:

3.6%

Equifax,

Inc.

756,255

192,731,587

TransUnion

3,871,384

358,916,010

551,647,597

Consumer

Discretionary

Distribution

&

Retail

:

1.4%

Amazon.com,

Inc. *

1,000,888

219,584,818

Underline

Consumer

Durables

&

Apparel

:

2.4%

NIKE,

Inc.

4,865,770

368,192,816

Underline

Financial

Services

:

3.8%

Charles

Schwab

Corp.

2,976,838

220,315,781

MarketAxess

Holdings,

Inc.

1,602,306

362,185,248

582,501,029

Food,

Beverage

&

Tobacco

:

9.4%

Altria

Group,

Inc.

7,239,208

378,538,187

Brown-Forman

Corp. †

8,582,693

325,970,680

Constellation

Brands,

Inc.

828,291

183,052,311

Mondelez

International,

Inc.

3,147,955

188,027,352

The

Campbell's

Company †

8,514,699

356,595,594

1,432,184,124

Health

Care

Equipment

&

Services

:

7.3%

GE

HealthCare

Technologies,

Inc.

4,558,293

356,367,347

Veeva

Systems,

Inc. *

1,738,207

365,458,022

Zimmer

Biomet

Holdings,

Inc.

3,680,740

388,796,566

1,110,621,935

Household

&

Personal

Products

:

4.8%

Estee

Lauder

Cos,

Inc.

4,719,643

353,878,832

Kenvue,

Inc.

17,317,845

369,735,991

723,614,823

Materials

:

6.1%

Air

Products

and

Chemicals,

Inc.

686,658

199,158,286

Corteva,

Inc.

6,729,638

383,320,181

International

Flavors

&

Fragrances,

Inc.

4,106,509

347,205,336

929,683,803

Number

of

Shares

Value

Media

&

Entertainment

:

5.6%

Alphabet,

Inc.

2,201,554

$

416,754,172

Walt

Disney

Co.

3,875,522

431,539,375

848,293,547

Pharmaceuticals,

Biotechnology

&

Life

Sciences

:

19.4%

Agilent

Technologies,

Inc.

2,776,876

373,045,522

Amgen,

Inc.

726,742

189,418,035

Bio-Rad

Laboratories,

Inc. *

‡

1,170,988

384,681,268

Bristol-Myers

Squibb

Co.

7,497,429

424,054,584

Danaher

Corp.

844,092

193,761,319

Gilead

Sciences,

Inc.

4,484,542

414,237,144

Merck

&

Co.,

Inc.

1,991,972

198,161,375

Pfizer,

Inc.

14,332,499

380,241,198

Thermo

Fisher

Scientific,

Inc.

371,843

193,443,884

West

Pharmaceutical

Services,

Inc.

624,406

204,530,429

2,955,574,758

Semiconductors

&

Semiconductor

Equipment

:

9.4%

Lam

Research

Corp.

2,366,561

170,936,701

Microchip

Technology,

Inc.

5,685,559

326,066,808

Monolithic

Power

Systems,

Inc.

318,521

188,468,876

NXP

Semiconductors

NV

1,715,266

356,518,038

Teradyne,

Inc.

3,052,086

384,318,669

1,426,309,092

Software

&

Services

:

6.3%

Adobe,

Inc. *

685,207

304,697,849

Autodesk,

Inc. *

721,426

213,231,883

Microsoft

Corp.

441,059

185,906,368

Salesforce,

Inc.

744,306

248,843,825

952,679,925

Transportation

:

2.5%

United

Parcel

Service,

Inc.

3,021,968

381,070,165

Underline

Total

Common

Stocks

(Cost:

$14,905,432,988)

15,196,500,888

SHORT-TERM

INVESTMENT

HELD

AS

COLLATERAL

FOR

SECURITIES

ON

LOAN:

0.0%

Money

Market

Fund:

0.0%

(Cost:

$2,914)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

2,914

2,914

Total

Investments:

99.8%

(Cost:

$14,905,435,902)

15,196,503,802

Other

assets

less

liabilities:

0.2%

24,041,540

NET

ASSETS:

100.0%

$

15,220,545,342

*

Non-income

producing

†

Security

fully

or

partially

on

loan.

Total

market

value

of

securities

on

loan

is

$18,184,664.

VANECK

MORNINGSTAR

WIDE

MOAT

ETF

SCHEDULE

OF

INVESTMENTS

(unaudited)

(continued)

2

‡

Affiliated

issuer

–

as

defined

under

the

Investment

Company

Act

of

1940.

Transactions

in

securities

of

affiliates

for

the

period

ended

December

31,

2024

were

as

follows:

Value

9/30/2024

Purchases

Sales

Proceeds

Realized

Gain

(Loss)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

Value

12/31/2024

Dividend

Income

Bio-Rad

Laboratories,

Inc.

$416,768,239

$76,579,459

$(101,847,824)

$(681,817)

$(6,136,789)

$384,681,268

$–

Underline

Underline

Underline

Underline

Underline

Underline

Underline