VANECK
MORNINGSTAR
GLOBAL
WIDE
MOAT
ETF
SCHEDULE
OF
INVESTMENTS
June
30,
2025
(unaudited)
Number
of
Shares
Value
COMMON
STOCKS:
100.0%
Australia
:
5.2%
ASX
Ltd.
7,533
$
344,409
Brambles
Ltd.
23,720
364,768
WiseTech
Global
Ltd.
2,446
174,671
883,848
Belgium
:
1.0%
Anheuser-Busch
InBev
SA
2,528
173,322
Underline
Brazil
:
2.0%
Ambev
SA
138,400
337,768
Underline
Canada
:
2.3%
Shopify,
Inc. *
1,699
195,563
Toronto-Dominion
Bank
2,730
200,393
395,956
China
:
12.1%
Alibaba
Group
Holding
Ltd.
(HKD)
11,100
157,130
Baidu,
Inc.
(HKD) *
15,350
164,504
Inner
Mongolia
Yili
Industrial
Group
Co.
Ltd.
42,000
163,573
JD.com,
Inc.
(HKD)
17,400
284,180
SF
Holding
Co.
Ltd.
52,500
357,620
Tencent
Holdings
Ltd.
(HKD)
4,900
315,733
Wuliangye
Yibin
Co.
Ltd.
18,300
303,906
Yum
China
Holdings,
Inc.
(USD)
6,932
309,930
2,056,576
France
:
6.1%
Bureau
Veritas
SA
10,024
340,951
Dassault
Aviation
SA
479
168,771
Safran
SA
578
187,843
Sanofi
SA
1,686
162,660
Thales
SA
612
180,079
1,040,304
Germany
:
4.4%
Rheinmetall
AG
198
417,845
Siemens
Healthineers
AG
144A
5,928
327,943
745,788
Japan
:
9.8%
Daifuku
Co.
Ltd.
6,400
164,145
FANUC
Corp.
11,800
319,362
Hoshizaki
Corp.
4,600
158,024
Hoya
Corp.
2,800
331,521
Kao
Corp. †
3,600
160,809
Nabtesco
Corp. †
20,300
361,705
Sony
Group
Corp.
6,700
173,671
1,669,237
Netherlands
:
3.8%
Adyen
NV
144A *
95
173,863
Koninklijke
Philips
NV *
5,913
141,491
NXP
Semiconductors
NV
(USD)
755
164,960
Universal
Music
Group
NV
5,250
169,720
650,034
Number
of
Shares
Value
New
Zealand
:
1.0%
Auckland
International
Airport
Ltd.
35,484
$
166,832
Underline
Switzerland
:
6.6%
Barry
Callebaut
AG †
122
132,927
Cie
Financiere
Richemont
SA
913
172,216
DSM-Firmenich
AG
(EUR)
3,017
319,847
Julius
Baer
Group
Ltd.
2,621
177,225
Roche
Holding
AG
970
315,613
1,117,828
Taiwan
:
2.2%
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
10,000
365,693
Underline
United
Kingdom
:
8.0%
BAE
Systems
PLC
6,463
167,452
British
American
Tobacco
PLC
7,356
349,165
GSK
PLC
16,445
313,022
Intertek
Group
PLC
2,615
170,052
Reckitt
Benckiser
Group
Plc
2,429
165,203
Rentokil
Initial
PLC
38,027
183,164
1,348,058
United
States
:
35.5%
Adobe,
Inc. *
404
156,300
Agilent
Technologies,
Inc.
1,312
154,829
Allegion
PLC
2,480
357,418
Alphabet,
Inc.
1,891
333,251
Blackrock,
Inc.
174
182,570
Bristol-Myers
Squibb
Co.
3,435
159,006
Caterpillar,
Inc.
470
182,459
Charles
Schwab
Corp.
2,136
194,889
Clorox
Co.
1,320
158,492
Corteva,
Inc.
2,672
199,144
GE
HealthCare
Technologies,
Inc.
2,348
173,916
Huntington
Ingalls
Industries,
Inc.
738
178,198
International
Flavors
&
Fragrances,
Inc.
1,959
144,084
MarketAxess
Holdings,
Inc.
754
168,398
Masco
Corp.
4,850
312,146
Meta
Platforms,
Inc.
257
189,689
Microsoft
Corp.
411
204,436
Northrop
Grumman
Corp.
343
171,493
Oracle
Corp.
1,032
225,626
Pfizer,
Inc.
6,004
145,537
Salesforce,
Inc.
618
168,522
Teradyne,
Inc.
1,794
161,317
The
Campbell's
Co.
4,133
126,676
TransUnion
3,802
334,576
Tyler
Technologies,
Inc. *
290
171,924
US
Bancorp
7,544
341,366
Veeva
Systems,
Inc. *
684
196,978
Walt
Disney
Co.
3,035
376,370
VANECK
MORNINGSTAR
GLOBAL
WIDE
MOAT
ETF
SCHEDULE
OF
INVESTMENTS
(continued)
FootnoteRuleAboveBlank
Footnotes:
Number
of
Shares
Value
United
States
(continued)
Workday,
Inc. *
665
$
159,600
6,029,210
Total
Common
Stocks
Number
of
Shares
Value
United
States
(continued)
(Cost:
$14,674,500)
$
16,980,454
Total
Investments:
100.0%
(Cost:
$14,674,500)
16,980,454
Liabilities
in
excess
of
other
assets:
0.0%
(3,362)
NET
ASSETS:
100.0%
$
16,977,092
Definitions:
EUR
Euro
HKD
Hong
Kong
Dollar
USD
United
States
Dollar
*
Non-income
producing
†
Security
fully
or
partially
on
loan.
Total
market
value
of
securities
on
loan
is
$416,720.
144A
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended,
or
otherwise
restricted.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
unless
otherwise
noted.
These
securities
have
an
aggregate
value
of
$501,806,
or
3.0%
of
net
assets.