VANECK
COMMODITY
STRATEGY
ETF
SCHEDULE
OF
INVESTMENTS
June
30,
2025
(unaudited)
FootnoteRuleAboveBlank
Footnotes:
Par
(000's)
Value
Short-Term
Investments:
94.1%
United
States
Treasury
Obligations
:
94.1%
United
States
Treasury
Bills
4.16%,
09/04/25
$
17,588
$
17,453,077
4.23%,
08/07/25
16,167
16,096,454
33,549,531
Total
Short-Term
Investments:
94.1%
(Cost:
$33,550,502)
33,549,531
Other
assets
less
liabilities:
5.9%
2,124,937
NET
ASSETS:
100.0%
$
35,674,468
(a)
All
or
a
portion
of
these
securities
are
held
at
the
broker
for
futures
collateral.
Total
value
of
securities
held
at
the
broker
is
$4,430,750.
Futures
Contracts
Reference
Entity
Type
Number
of
Contracts
Expiration
Date
Notional
Amount
Unrealized
Appreciation/
(Depreciation)
Brent
Crude
Oil
Long
45
07/31/25
$
3,003,300
$
(29,020)
Cattle
Feeder
Long
6
08/28/25
932,025
31,863
Cocoa
Long
4
09/15/25
360,000
(2,984)
Cocoa
Long
3
12/15/25
248,970
(36,328)
Coffee
C
Long
7
09/18/26
712,031
(72,812)
Copper
Long
28
09/26/25
3,557,750
88,043
Corn
Long
15
09/12/25
306,938
(28,180)
FCOJ-A
Long
8
09/10/25
269,520
(72,439)
Gasoline
RBOB
Long
30
07/31/25
2,610,846
(38,974)
Gold
100
OZ
Long
23
08/27/25
7,607,710
81,211
Live
Cattle
Long
12
08/29/25
1,026,600
16,176
LME
Copper
Long
22
07/14/25
1,428,790
82,694
LME
Copper
Long
3
07/14/25
745,892
22,945
LME
Tin
Long
2
07/14/25
338,435
34,545
LME
Zinc
Long
23
07/14/25
1,580,807
37,646
Low
Sulphur
Gasoil
Long
11
07/10/25
744,700
80,521
Natural
Gas
Long
19
07/29/25
656,640
(42,477)
NY
Harbor
ULSD
Long
25
07/31/25
2,390,115
125,292
Platinum
Long
7
10/29/25
470,050
42,276
Silver
Long
9
09/26/25
1,627,740
(41,676)
Soybean
Long
13
09/12/25
661,863
3,258
Soybean
Oil
Long
14
08/14/25
442,260
39,394
White
Sugar
Long
15
07/16/25
354,675
(43,728)
WTI
Crude
Oil
Long
46
07/22/25
2,995,060
166,773
Net
unrealized
appreciation
on
futures
contracts
$
444,019