VANECK
JUNIOR
GOLD
MINERS
ETF
SCHEDULE
OF
INVESTMENTS
March
31,
2026
(unaudited)
Number
of
Shares
Value
COMMON
STOCKS:
100.2%
Australia
:
17.3%
Alkane
Resources
Ltd. *
21,650,014
$
21,761,580
Andean
Silver
Ltd. *
4,156,450
5,829,404
Antipa
Minerals
Ltd. *
14,176,990
5,579,778
Aurelia
Metals
Ltd. *
32,633,316
5,698,633
Australian
Strategic
Materials
Ltd. *
1
1
Bellevue
Gold
Ltd. *
25,811,684
27,531,547
Black
Cat
Syndicate
Ltd. *
†
16,734,125
11,755,160
Capricorn
Metals
Ltd.
8,323,161
65,337,447
Catalyst
Metals
Ltd. *
6,197,247
27,736,688
Dateline
Resources
Ltd. *
†
73,132,660
22,790,297
Emerald
Resources
NL *
12,736,576
48,531,481
Evolution
Mining
Ltd.
60,697,696
542,564,694
Firefinch
Ltd. †∞
54,133,739
2,254,233
Genesis
Minerals
Ltd. *
†
19,309,081
80,658,397
Greatland
Resources
Ltd. *
11,907,506
96,258,618
Kingsgate
Consolidated
Ltd.
7,058,142
21,858,788
Meeka
Metals
Ltd. *
73,914,732
9,108,105
Ora
Banda
Mining
Ltd. *
36,065,578
29,671,296
Pantoro
Gold
Ltd. *
5,830,089
13,505,632
Perseus
Mining
Ltd.
23,911,381
86,963,651
Predictive
Discovery
Ltd. *
36,194,828
19,014,403
Ramelius
Resources
Ltd.
43,181,081
111,597,418
Regis
Resources
Ltd.
13,800,060
64,930,414
Resolute
Mining
Ltd. *
36,693,900
36,018,562
St
Barbara
Ltd. *
†
25,561,909
10,956,277
Vault
Minerals
Ltd.
21,193,397
62,775,097
Vox
Royalty
Corp.
(USD) †
1,212,009
6,350,927
West
African
Resources
Ltd. *
20,817,622
47,116,971
Westgold
Resources
Ltd.
17,717,549
73,992,334
1,558,147,833
Burkina
Faso
:
2.4%
IAMGOLD
Corp.
(USD) *
11,365,820
213,904,732
Underline
Canada
:
44.1%
AbraSilver
Resource
Corp. *
†
3,887,290
35,069,314
Alamos
Gold,
Inc.
(USD)
14,497,014
644,102,332
Allied
Gold
Corp.
(USD) *
†
1,984,238
61,590,747
Americas
Gold
&
Silver
Corp.
(USD) *
†
6,685,530
34,898,467
Andean
Precious
Metals
Corp. *
†
1,542,938
7,684,009
Artemis
Gold,
Inc. *
3,549,918
96,026,229
Aya
Gold
&
Silver,
Inc. *
†
3,096,170
47,078,734
B2Gold
Corp.
(USD) †
29,710,127
134,586,875
Centerra
Gold,
Inc.
(USD)
4,643,915
82,615,248
Collective
Mining
Ltd. *
1,075,564
18,828,439
Dakota
Gold
Corp.
(USD) *
3,190,119
16,110,101
Discovery
Silver
Corp. *
†
16,394,213
105,022,582
DPM
Metals,
Inc. †
4,044,410
141,947,764
Endeavour
Silver
Corp.
(USD) *
†
7,341,374
68,348,192
Equinox
Gold
Corp.
(USD) †
‡
41,449,742
599,363,269
First
Majestic
Silver
Corp.
(USD)
11,848,326
254,502,042
Number
of
Shares
Value
Canada
(continued)
Fortuna
Mining
Corp.
(USD) *
†
6,449,883
$
64,047,338
Founders
Metals,
Inc. *
†
1,863,944
5,569,594
Future
Mineral
Resources,
Inc. *
168,999
46,017
G
Mining
Ventures
Corp. *
†
4,097,935
143,356,517
G2
Goldfields,
Inc. *
4,026,338
15,550,831
Galiano
Gold,
Inc.
(USD) *
3,979,610
9,988,821
Gold
Royalty
Corp.
(USD) *
†
4,542,721
16,262,941
GoldMining,
Inc.
(USD) *
†
5,645,635
6,718,306
Integra
Resources
Corp.
(USD) *
4,204,070
11,477,111
K92
Mining,
Inc. *
4,960,044
83,914,327
Lundin
Gold,
Inc. †
2,681,500
204,270,907
McEwen,
Inc.
(USD) *
†
1,329,437
27,147,104
Metalla
Royalty
&
Streaming
Ltd.
(USD) *
†
1,893,738
12,555,483
New
Found
Gold
Corp.
(USD) *
6,470,507
12,552,784
NorthX
Nickel
Corp. *
†
179,304
23,127
Novagold
Resources,
Inc.
(USD) *
†
6,371,811
57,218,863
OceanaGold
Corp.
5,470,112
171,917,246
OR
Royalties,
Inc.
(USD) †
2,921,577
111,078,358
Orezone
Gold
Corp. *
†
11,872,334
20,077,180
Osisko
Development
Corp.
(USD) *
†
5,229,140
16,994,705
Seabridge
Gold,
Inc.
(USD) *
†
2,037,099
57,731,386
Silvercorp
Metals,
Inc.
(USD) †
5,832,762
62,643,864
Skeena
Resources
Ltd.
(USD) *
†
2,402,801
71,411,246
Snowline
Gold
Corp. *
†
3,166,486
31,493,551
Southern
Cross
Gold
Consolidated
Ltd. *
†
6,087,009
38,601,290
SSR
Mining,
Inc.
(USD) *
4,235,617
124,527,140
Torex
Gold
Resources,
Inc.
1,945,989
89,033,999
Triple
Flag
Precious
Metals
Corp.
(USD)
1,909,179
66,267,603
Victoria
Gold
Corp. *
†∞
1,722,275
1
Vizsla
Silver
Corp.
(USD) *
†
8,582,944
28,323,715
Wesdome
Gold
Mines
Ltd. *
†
3,574,596
63,625,785
West
Red
Lake
Gold
Mines
Ltd. *
†
9,307,164
6,869,248
3,979,070,732
China
:
3.3%
Chifeng
Jilong
Gold
Mining
Co.
Ltd.
(HKD) †
4,686,200
25,513,434
GT
Gold
Holdings
Ltd.
(HKD) *
†
116,352,000
7,989,528
Tongguan
Gold
Group
Ltd.
(HKD) †
61,762,000
23,193,009
Wanguo
Gold
Group
Ltd.
(HKD) †
33,892,500
59,826,181
VANECK
JUNIOR
GOLD
MINERS
ETF
SCHEDULE
OF
INVESTMENTS
(unaudited)
(continued)
FootnoteRuleAboveBlank
Footnotes:
Number
of
Shares
Value
China
(continued)
Zhaojin
Mining
Industry
Co.
Ltd.
(HKD)
43,382,700
$
180,258,455
296,780,607
Colombia
:
1.0%
Aris
Mining
Corp.
(USD) *
†
5,048,406
93,748,900
Underline
Indonesia
:
1.9%
Archi
Indonesia
Tbk
PT
108,959,600
9,097,380
Bumi
Resources
Minerals
Tbk
PT *
1,889,930,000
82,630,696
J
Resources
Asia
Pasific
Tbk
PT *
71,404,300
1,988,639
Merdeka
Gold
Resources
Tbk
PT *
161,558,600
77,953,486
171,670,201
Ivory
Coast
:
0.9%
Montage
Gold
Corp.
(CAD) *
†
6,831,366
77,489,537
Underline
Jersey,
Channel
Islands
:
0.1%
Caledonia
Mining
Corp.
PLC
(USD) †
366,905
8,288,384
Underline
Mexico
:
3.9%
Avino
Silver
&
Gold
Mines
Ltd.
(USD) *
†
4,406,223
27,847,329
Industrias
Penoles
SAB
de
CV *
4,934,058
217,859,931
Luca
Mining
Corp.
(CAD) *
†
5,908,090
5,926,929
Orla
Mining
Ltd.
(USD) †
6,368,499
102,723,889
354,358,078
Peru
:
2.5%
Cia
de
Minas
Buenaventura
SAA
(ADR)
4,573,950
164,845,158
Hochschild
Mining
PLC
(GBP)
7,744,894
61,739,323
226,584,481
Singapore
:
0.1%
CNMC
Goldmine
Holdings
Ltd.
7,172,400
8,307,325
Underline
South
Africa
:
2.0%
DRDGOLD
Ltd.
(ADR)
778,919
22,876,851
Harmony
Gold
Mining
Co.
Ltd.
(ADR)
10,427,612
160,272,397
183,149,248
Number
of
Shares
Value
Turkey
:
2.0%
Eldorado
Gold
Corp.
(USD)
4,143,188
$
142,235,644
TR
Anadolu
Metal
Madencilik
Isletmeleri
AS *
4,932,883
13,197,236
Turk
Altin
Isletmeleri
AS *
25,441,856
23,966,137
179,399,017
United
Kingdom
:
6.8%
Endeavour
Mining
PLC
9,101,733
546,346,754
Pan
African
Resources
PLC
37,480,892
69,191,641
615,538,395
United
States
:
11.9%
Aura
Minerals,
Inc.
1,014,873
82,813,637
Coeur
Mining,
Inc. *
32,131,374
603,105,890
Contango
Silver
&
Gold,
Inc. *
†
399,862
7,497,412
GoGold
Resources,
Inc.
(CAD) *
†
11,447,256
21,819,140
Hecla
Mining
Co.
10,977,008
204,501,659
Hycroft
Mining
Holding
Corp. *
†
1,418,593
49,934,474
i-80
Gold
Corp. *
†
18,642,176
28,336,108
Idaho
Strategic
Resources,
Inc. *
†
337,677
10,846,185
Perpetua
Resources
Corp. *
†
2,203,976
61,975,805
US
Gold
Corp. *
†
339,934
5,163,597
1,075,993,907
Total
Common
Stocks
(Cost:
$4,926,057,271)
9,042,431,377
SHORT-TERM
INVESTMENT
HELD
AS
COLLATERAL
FOR
SECURITIES
ON
LOAN:
1.4%
Money
Market
Fund:
1.4%
(Cost:
$126,694,985)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
3.66%(a)
126,694,985
126,694,985
Total
Investments:
101.6%
(Cost:
$5,052,752,256)
9,169,126,362
Liabilities
in
excess
of
other
assets:
(1.6)%
(141,204,259)
NET
ASSETS:
100.0%
$
9,027,922,103
Definitions:
ADR
American
Depositary
Receipt
BDR
Brazilian
Depositary
Receipt
BRL
Brazilian
Real
CAD
Canadian
Dollar
GBP
British
Pound
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
$532,884,923.
∞
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
‡
Affiliated
issuer
–
as
defined
under
the
Investment
Company
Act
of
1940.
(a)
The
rate
shown
is
the
7-day
yield
as
of
03/31/26.
Transactions
in
and
earnings
from
securities
of
affiliates
for
the
period
ended
March
31,
2026
were
as
follows:
Value
12/31/2025
Purchases
Sales
Proceeds
Net
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
3/31/2026
Dividend
Income
Equinox
Gold
Corp.
$
–(a)
$
116,000,909
$
(66,484,586)
$
47,431,617
$
(13,657,991)
$
599,363,269
$
520,496
Underline
Underline
Underline
Underline
Underline
Underline
Underline
(a)
Security
held
by
the
Fund,
however
not
classified
as
an
affiliate
at
the
beginning
of
the
reporting
period.
The
summary
of
inputs
used
to
value
the
Fund's
investments
as
of
March
31,
2026
is
as
follows:
Level
1
Quoted
Prices
Level
2
Significant
Observable
Inputs
Level
3
Significant
Unobservable
Inputs
Value
Common
Stocks
$
9,042,431,377
Australia
$
29,141,224
$
1,526,752,376
$
2,254,233
$
1,558,147,833
Burkina
Faso
213,904,732
—
—
213,904,732
Canada
3,979,070,731
—
1
3,979,070,732
China
—
296,780,607
—
296,780,607
Colombia
93,748,900
—
—
93,748,900
Indonesia
77,953,486
93,716,715
—
171,670,201
Ivory
Coast
77,489,537
—
—
77,489,537
Jersey,
Channel
Islands
8,288,384
—
—
8,288,384
Mexico
354,358,078
—
—
354,358,078
Peru
164,845,158
61,739,323
—
226,584,481
Singapore
—
8,307,325
—
8,307,325
South
Africa
183,149,248
—
—
183,149,248
Turkey
179,399,017
—
—
179,399,017
United
Kingdom
—
615,538,395
—
615,538,395
United
States
1,075,993,907
—
—
1,075,993,907
Money
Market
Fund
126,694,985
—
—
126,694,985
Total
Investments
$
6,564,037,387
$
2,602,834,741
$
2,254,234
$
9,169,126,362