VANECK
SEMICONDUCTOR
ETF
SCHEDULE
OF
INVESTMENTS
June
30,
2025
(unaudited)
FootnoteRuleAboveBlank
Footnotes:
Number
of
Shares
Value
COMMON
STOCKS:
100.0%
Bermuda
:
2.1%
Marvell
Technology,
Inc.
(USD)
7,141,505
$
552,752,487
Underline
Netherlands
:
6.5%
ASML
Holding
N.V.
(USD)
1,565,410
1,254,503,920
NXP
Semiconductors
NV
(USD)
2,004,071
437,869,473
1,692,373,393
Switzerland
:
0.9%
STMicroelectronics
N.V.
(USD) †
7,654,347
232,768,692
Underline
Taiwan
:
10.9%
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
(ADR)
12,598,081
2,853,339,365
Underline
United
States
:
79.6%
Advanced
Micro
Devices,
Inc. *
10,132,300
1,437,773,370
Analog
Devices,
Inc.
4,747,194
1,129,927,116
Applied
Materials,
Inc.
6,393,226
1,170,407,884
Broadcom,
Inc.
8,748,002
2,411,386,751
Cadence
Design
Systems,
Inc. *
2,548,246
785,242,005
Intel
Corp.
42,236,361
946,094,486
KLA
Corp.
1,249,607
1,119,322,974
Lam
Research
Corp.
11,937,774
1,162,022,921
Microchip
Technology,
Inc.
4,593,620
323,253,039
Number
of
Shares
Value
United
States
(continued)
Micron
Technology,
Inc.
9,520,676
$
1,173,423,317
Monolithic
Power
Systems,
Inc.
390,993
285,964,460
NVIDIA
Corp.
34,374,477
5,430,823,621
ON
Semiconductor
Corp. *
2,827,528
148,190,743
Qorvo,
Inc. *
651,142
55,288,467
Qualcomm,
Inc.
6,926,765
1,103,156,594
Skyworks
Solutions,
Inc.
1,243,500
92,665,620
Synopsys,
Inc. *
1,393,786
714,566,207
Teradyne,
Inc.
1,310,020
117,796,999
Texas
Instruments,
Inc.
5,531,987
1,148,551,141
Universal
Display
Corp. †
399,196
61,659,814
20,817,517,529
Total
Common
Stocks
(Cost:
$25,596,976,924)
26,148,751,466
SHORT-TERM
INVESTMENT
HELD
AS
COLLATERAL
FOR
SECURITIES
ON
LOAN:
0.0%
Money
Market
Fund:
0.0%
(Cost:
$9,035,478)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
9,035,478
9,035,478
Total
Investments:
100.0%
(Cost:
$25,606,012,402)
26,157,786,944
Other
assets
less
liabilities:
0.0%
3,450,147
NET
ASSETS:
100.0%
$
26,161,237,091
Definitions:
ADR
American
Depositary
Receipt
USD
United
States
Dollar
†
Security
fully
or
partially
on
loan.
Total
market
value
of
securities
on
loan
is
$22,277,426.
*
Non-income
producing