VanEck VIP Trust NPORT-P VanEck VIP Global Resources Fund (Mar 2023 report)

VANECK VIP GLOBAL RESOURCES FUND

SCHEDULE OF INVESTMENTS

March 31, 2023 (unaudited)

	Number of Shares		Value
COMMON STOCKS: 98.9%
Australia: 4.7%
Allkem Ltd. *		383,077	$	3,068,868
Ecograf Ltd. * †		616,380		72,725
Glencore Plc (GBP)		2,346,200		13,500,540
Jervois Global Ltd. * †		2,261,400		100,648
				16,742,781
Brazil: 3.3%
Vale SA (ADR)		626,100		9,879,858
Yara International ASA (NOK)		41,100		1,786,229
				11,666,087
British Virgin Islands: 0.1%
Talon Metals Corp. (CAD) *		1,633,500		435,117
Canada: 10.0%
Agnico Eagle Mines Ltd. (USD)		111,122		5,663,888
Alamos Gold, Inc. (USD)		299,300		3,660,439
Barrick Gold Corp. (USD)		396,974		7,371,807
Euro Manganese, Inc. (AUD) *		893,435		131,430
Franco-Nevada Corp. (USD)		40,900		5,963,220
Kinross Gold Corp. (USD)		932,500		4,392,075
Nouveau Monde Graphite, Inc. (USD) * †		76,100		390,393
Nutrien Ltd. (USD)		103,965		7,677,815
				35,251,067
China: 1.2%
PetroChina Co. Ltd. (HKD)		7,384,000		4,361,980
Finland: 0.7%
Neste Oyj		48,600		2,401,028
Ghana: 1.1%
Kosmos Energy Ltd. (USD) *		520,000		3,868,800
Italy: 2.8%
Eni SpA †		517,000		7,210,270
Saras SpA *		1,648,600		2,561,629
				9,771,899
Netherlands: 1.9%
OCI NV		194,656		6,598,807
Norway: 2.6%
Equinor ASA (ADR)		194,400		5,526,792
FREYR Battery SA (USD) * †		221,710		1,971,002
FREYR Battery SA (USD) * ø		185,000		1,644,650
				9,142,444
South Africa: 3.8%
Anglo American Plc (GBP)		270,500		8,997,233
Sibanye Stillwater Ltd. (ADR) †		514,800		4,283,136
				13,280,369
Spain: 2.2%
Repsol SA		486,600		7,482,867
Soltec Power Holdings SA *		51,000		336,745
				7,819,612
Turkey: 0.6%
Eldorado Gold Corp. (USD) *		218,500		2,263,660

	Number of Shares		Value
United Kingdom: 5.4%
Endeavour Mining Plc (CAD) †		191,000	$	4,602,937
Shell Plc (ADR)		133,800		7,698,852
TechnipFMC Plc (USD) *		500,900		6,837,285
				19,139,074
United States: 55.1%
5E Advanced Materials, Inc. * †		59,200		320,864
Array Technologies, Inc. * †		171,100		3,743,668
Baker Hughes Co.		190,300		5,492,058
Benson Hill, Inc. * †		220,790		253,908
Bunge Ltd.		105,700		10,096,464
ChampionX Corp.		142,200		3,857,886
Chart Industries, Inc. * †		43,300		5,429,820
Chesapeake Energy Corp. †		65,300		4,965,412
Chevron Corp.		22,900		3,736,364
ConocoPhillips		81,943		8,129,565
Corteva, Inc.		155,233		9,362,102
Darling Ingredients, Inc. *		49,600		2,896,640
Devon Energy Corp.		58,178		2,944,389
Diamondback Energy, Inc.		40,547		5,480,738
Enphase Energy, Inc. *		26,800		5,635,504
EQT Corp.		168,800		5,386,408
EVgo, Inc. * †		132,800		1,034,512
Excelerate Energy, Inc.		89,900		1,990,386
FMC Corp.		31,225		3,813,509
Freeport-McMoRan, Inc.		235,000		9,613,850
Halliburton Co.		184,800		5,847,072
Hannon Armstrong Sustainable Infrastructure Capital, Inc. †		57,223		1,636,578
Hess Corp.		74,700		9,885,798
Kirby Corp. *		75,800		5,283,260
Liberty Energy, Inc.		285,780		3,660,842
Marathon Oil Corp.		157,900		3,783,284
Mosaic Co.		81,200		3,725,456
MP Materials Corp. * †		139,200		3,924,048
Newmont Corp.		142,896		7,004,762
Ormat Technologies, Inc. †		68,680		5,822,004
PDC Energy, Inc.		59,500		3,818,710
Piedmont Lithium, Inc. * †		60,300		3,621,015
Pioneer Natural Resources Co.		15,844		3,235,979
Schlumberger NV		126,900		6,230,790
SolarEdge Technologies, Inc. * †		39,700		12,066,815
Solid Power, Inc. * †		36,900		111,069
Stem, Inc. * ø		177,000		992,085
Stem, Inc. * †		331,632		1,880,353
Union Pacific Corp.		10,500		2,113,230
Valero Energy Corp.		115,100		16,067,960
				194,895,157
Zambia: 3.4%
First Quantum Minerals Ltd. (CAD) †		515,500		11,850,969
Total Common Stocks (Cost: $259,569,212)				349,488,851

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VANECK VIP GLOBAL RESOURCES FUND

SCHEDULE OF INVESTMENTS

(unaudited) (continued)

	Number of Shares		Value
WARRANTS: 0.0%
Norway: 0.0%
FREYR Battery SA, USD 11.50, exp. 09/01/27		55,100	$	157,586
United States: 0.0%
Benson Hill, Inc., USD 11.50, exp. 12/24/25		38,225		3,329
Total Warrants (Cost: $106,931)				160,915
MONEY MARKET FUND: 3.4% (Cost: $11,936,271)
Invesco Treasury Portfolio - Institutional Class		11,936,271		11,936,271
Total Investments Before Collateral for Securities Loaned: 102.3% (Cost: $271,612,414)				361,586,037
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 5.7%
Money Market Fund: 5.7% (Cost: $20,015,934)
State Street Navigator Securities Lending Government Money Market Portfolio		20,015,934		20,015,934
Total Investments: 108.0% (Cost: $291,628,348)				381,601,971
Liabilities in excess of other assets: (8.0)%				(28,212,356)
NET ASSETS: 100.0%			$	353,389,616

Definitions:

ADR	American Depositary Receipt
AUD	Australia Dollar
CAD	Canadian Dollar
GBP	British Pound
HKD	Hong Kong Dollar
NOK	Norwegian Krone
USD	United States Dollar

Footnotes:

*	Non-income producing
†	Security fully or partially on loan. Total market value of securities on loan is $51,930,711.
ø	Restricted Security – the aggregate value of restricted securities is $2,636,735, or 0.7% of net assets

Restricted securities held by the Fund as of March 31, 2023 are as follows:

Security	Acquisition Date	Number of Shares		Acquisition Cost		Value		% of Net Assets
FREYR Battery SA	07/06/2021		185,000		$1,850,000		$1,644,650		0.4	%
Stem, Inc.	04/28/2021		177,000		1,770,000		992,085		0.3	%
					$3,620,000		$2,636,735		0.7	%

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Summary of Investments by Sector Excluding Collateral for Securities Loaned	% of Investments			Value
Oil & Gas		38.7	%	$	140,062,115
Base & Industrial Metals		18.2			65,907,559
Agriculture		12.8			46,214,259
Gold & Precious Metals		12.5			45,205,924
Renewables & Alternatives		11.0			39,433,599
Industrials & Utilities		3.5			12,826,310
Taxable Treas/Repo-MMkt		3.3			11,936,271
		100.0	%	$	361,586,037

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