VANECK VIP EMERGING MARKETS BOND FUND
SCHEDULE OF INVESTMENTS
March 31, 2021 (unaudited)
Principal Amount | Value | |||||||
CORPORATE BONDS: 22.8% | ||||||||
Argentina: 1.4% | ||||||||
USD | 333,549 | YPF SA 144A 4.00%, 02/12/26 (s) | $ | 272,445 | ||||
Brazil: 1.9% | ||||||||
57,000 | Amaggi Luxembourg International Sarl 144A 5.25%, 01/28/28 | 58,380 | ||||||
134,000 | Atento Luxco 1 SA 144A 8.00%, 02/10/26 | 140,835 | ||||||
158,000 | CSN Islands XI Corp. Reg S 6.75%, 01/28/28 | 167,626 | ||||||
366,841 | ||||||||
Cayman Islands: 0.7% | ||||||||
142,000 | CK Hutchison International 20 Ltd. Reg S 3.38%, 05/08/50 | 144,084 | ||||||
China / Hong Kong: 2.8% | ||||||||
China Evergrande Group Reg S | ||||||||
175,000 | 9.50%, 03/29/24 | 149,188 | ||||||
39,000 | 12.00%, 01/22/24 | 36,170 | ||||||
170,000 | Kaisa Group Holdings Ltd. Reg S 10.50%, 01/15/25 | 165,325 | ||||||
Yuzhou Group Holdings Co. Ltd. Reg S | ||||||||
122,000 | 7.38%, 01/13/26 | 105,523 | ||||||
79,000 | 8.50%, 02/04/23 | 74,801 | ||||||
531,007 | ||||||||
Cyprus: 1.2% | ||||||||
38,000 | MHP Lux SA 144A 6.25%, 09/19/29 | 38,091 | ||||||
200,000 | MHP Lux SA Reg S 6.25%, 09/19/29 | 200,477 | ||||||
238,568 | ||||||||
Georgia: 0.9% | ||||||||
173,000 | Georgia Global Utilities JSC 144A 7.75%, 07/30/25 | 181,897 | ||||||
Ghana: 1.1% | ||||||||
182,000 | Tullow Oil Plc 144A 7.00%, 03/01/25 | 154,700 | ||||||
66,000 | Tullow Oil Plc Reg S 7.00%, 03/01/25 | 56,100 | ||||||
210,800 | ||||||||
Israel: 0.3% | ||||||||
56,000 | Delek & Avner Tamar Bond Ltd. 144A 5.08%, 12/30/23 | 57,984 | ||||||
Kazakhstan: 0.6% | ||||||||
103,000 | KazMunayGas National Co. JSC 144A 4.75%, 04/19/27 | 117,667 | ||||||
Mauritius: 1.0% | ||||||||
IHS Netherlands Holdco BV 144A | ||||||||
106,000 | 7.13%, 03/18/25 | 111,433 | ||||||
72,000 | 8.00%, 09/18/27 | 77,940 | ||||||
189,373 | ||||||||
Mexico: 0.3% | ||||||||
120,000 | Corp. GEO SAB de CV Reg S 9.25%, 06/30/20 (d)* | 14 | ||||||
MXN | 1,070,000 | Petróleos Mexicanos Reg S 7.19%, 09/12/24 | 49,168 | |||||
49,182 | ||||||||
Moldova: 1.0% | ||||||||
USD | 167,000 | Aragvi Finance International DAC 144A 12.00%, 04/09/24 | 183,700 | |||||
Netherlands: 0.9% | ||||||||
167,000 | Braskem Netherlands Finance BV Reg S 4.50%, 01/10/28 | 171,861 | ||||||
Nigeria: 0.9% | ||||||||
178,000 | SEPLAT Petroleum Development Co. Plc 144A 7.75%, 04/01/26 | 178,668 | ||||||
Saudi Arabia: 1.8% | ||||||||
169,000 | Dar Al-Arkan Sukuk Co. Ltd. Reg S 6.75%, 02/15/25 | 172,389 | ||||||
169,000 | Saudi Arabian Oil Co. 144A 1.63%, 11/24/25 | 170,243 | ||||||
342,632 | ||||||||
Singapore: 0.6% | ||||||||
109,000 | Flex Ltd. 4.88%, 05/12/30 | 123,561 | ||||||
Thailand: 1.8% | ||||||||
180,000 | GC Treasury Center Co. Ltd. 144A 2.98%, 03/18/31 | 178,129 | ||||||
178,000 | Thaioil Treasury Center Co. Ltd. Reg S 3.75%, 06/18/50 | 159,201 | ||||||
337,330 | ||||||||
United Arab Emirates: 0.9% | ||||||||
178,000 | Alpha Star Holding III Ltd. Reg S 6.25%, 04/20/22 | 177,083 | ||||||
United Kingdom: 0.9% | ||||||||
206,000 | Vedanta Resources Ltd. Reg S 6.13%, 08/09/24 | 166,109 | ||||||
United States: 1.8% | ||||||||
165,000 | AES Panama Generation Holdings SRL Reg S 4.38%, 05/31/30 | 171,031 | ||||||
185,000 | Kosmos Energy Ltd. 144A 7.50%, 03/01/28 † | 175,658 | ||||||
346,689 | ||||||||
Total Corporate Bonds (Cost: $4,481,823) | 4,387,481 | |||||||
GOVERNMENT OBLIGATIONS: 75.9% | ||||||||
Angola: 2.4% | ||||||||
435,000 | Angolan Government International Bond Reg S 9.50%, 11/12/25 | 456,432 | ||||||
Argentina: 1.2% | ||||||||
652,000 | Argentine Republic Government International Bond 0.13%, 07/09/41 (s) | 226,401 | ||||||
Bahrain: 0.5% | ||||||||
101,000 | Bahrain Government International Bond 144A 4.25%, 01/25/28 | 100,523 | ||||||
Chile: 4.4% | ||||||||
CLP | 530,000,000 | Bonos de la Tesoreria de la Republica Reg S 144A 2.80%, 10/01/33 | 653,897 | |||||
130,000,000 | Bonos de la Tesoreria de la Republica de Chile Reg S 144A 4.70%, 09/01/30 | 198,825 | ||||||
852,722 | ||||||||
China / Hong Kong: 7.0% | ||||||||
China Government Bonds | ||||||||
CNY | 2,520,000 | 2.68%, 05/21/30 | 367,299 | |||||
2,580,000 | 2.85%, 06/04/27 | 385,935 | ||||||
1,250,000 | 3.02%, 10/22/25 | 190,764 | ||||||
2,560,000 | 3.81%, 09/14/50 | 397,585 | ||||||
1,341,583 | ||||||||
Colombia: 4.9% | ||||||||
Colombian TES | ||||||||
COP | 1,310,000,000 | 6.25%, 11/26/25 | 371,708 | |||||
1,959,400,000 | 7.50%, 08/26/26 | 578,755 | ||||||
950,463 | ||||||||
Costa Rica: 0.4% | ||||||||
USD | 73,000 | Costa Rica International Bond Reg S 7.16%, 03/12/45 | 71,139 | |||||
Czech Republic: 1.9% | ||||||||
CZK | 5,630,000 | Czech Republic Government Bond 1.20%, 03/13/31 | 235,507 | |||||
3,120,000 | Czech Republic Government Bond Reg S 0.95%, 05/15/30 | 129,387 | ||||||
364,894 | ||||||||
Dominican Republic: 1.5% | ||||||||
Dominican Republic International Bonds Reg S | ||||||||
DOP | 10,620,000 | 8.90%, 02/15/23 | 193,447 | |||||
4,700,000 | 9.75%, 06/05/26 | 89,674 | ||||||
283,121 | ||||||||
Ecuador: 2.6% | ||||||||
USD | 128,000 | Ecuador Government International Bond 144A 0.50%, 07/31/30 (s) | 75,201 | |||||
713,000 | Ecuador Government International Bond Reg S 0.50%, 07/31/30 (s) | 418,895 | ||||||
494,096 | ||||||||
Egypt: 0.6% | ||||||||
108,000 | Egypt Government International Bond 144A 5.25%, 10/06/25 † | 111,945 | ||||||
El Salvador: 1.8% | ||||||||
El Salvador Government International Bonds Reg S | ||||||||
69,000 | 7.75%, 01/24/23 | 72,450 | ||||||
179,000 | 8.25%, 04/10/32 | 185,981 | ||||||
82,000 | 9.50%, 07/15/52 | 87,535 | ||||||
345,966 | ||||||||
Gabon: 0.1% | ||||||||
28,000 | Gabon Government International Bond 144A 6.95%, 06/16/25 | 29,204 | ||||||
Guatamala: 0.4% | ||||||||
66,000 | Guatemala Government Bond Reg S 4.50%, 05/03/26 | 71,303 | ||||||
Hungary: 0.9% | ||||||||
HUF | 52,300,000 | Hungary Government Bond 1.50%, 04/22/26 | 166,466 | |||||
Indonesia: 5.0% | ||||||||
Indonesia Treasury Bonds | ||||||||
IDR | 3,865,000,000 | 6.50%, 06/15/25 | 272,884 | |||||
4,028,000,000 | 7.00%, 05/15/27 | 288,868 | ||||||
5,628,000,000 | 7.00%, 09/15/30 | 393,142 | ||||||
954,894 | ||||||||
Israel: 1.5% | ||||||||
ILS | 996,000 | Israel Government Bond 1.50%, 05/31/37 | 289,511 | |||||
Ivory Coast: 0.3% | ||||||||
USD | 49,000 | Ivory Coast Government International Bond Reg S 6.13%, 06/15/33 | 50,227 | |||||
Jordan: 0.3% | ||||||||
51,000 | Jordan Government International Bond 144A 4.95%, 07/07/25 | 52,559 | ||||||
Kenya: 0.4% | ||||||||
67,000 | Kenya Government International Bond 144A 7.00%, 05/22/27 | 71,379 | ||||||
Laos: 2.4% | ||||||||
212,000 | Laos Government International Bond 144A 6.88%, 06/30/21 | 173,310 | ||||||
362,000 | Laos Government International Bonds Reg S 6.88%, 06/30/21 | 295,935 | ||||||
469,245 | ||||||||
Malaysia: 4.0% | ||||||||
Malaysia Government Bonds | ||||||||
MYR | 1,576,000 | 3.48%, 03/15/23 | 389,883 | |||||
634,000 | 3.83%, 07/05/34 | 151,917 | ||||||
910,000 | 3.96%, 09/15/25 | 231,276 | ||||||
773,076 | ||||||||
Mexico: 8.8% | ||||||||
MXN | 10,090,000 | Mexican Bonos 5.75%, 03/05/26 | 489,955 | |||||
Petróleos Mexicanos | ||||||||
USD | 396,000 | 6.49%, 01/23/27 † | 414,446 | |||||
146,000 | 6.63%, 06/15/35 | 139,115 | ||||||
157,000 | 6.88%, 08/04/26 | 168,339 | ||||||
MXN | 11,080,000 | 7.47%, 11/12/26 | 476,457 | |||||
1,688,312 | ||||||||
Mongolia: 0.1% | ||||||||
USD | 16,000 | Mongolia Government International Bond Reg S 5.13%, 04/07/26 | 17,158 | |||||
Oman: 1.5% | ||||||||
277,000 | Oman Government International Bond 144A 6.25%, 01/25/31 † | 290,326 | ||||||
Peru: 1.5% | ||||||||
300,000 | Peruvian Government International Bond 3.55%, 03/10/51 | 292,461 | ||||||
Philippines: 3.5% | ||||||||
�� | Philippine Government International Bonds | |||||||
PHP | 18,638,000 | 3.90%, 11/26/22 | 391,687 | |||||
10,710,000 | 6.25%, 01/14/36 | 277,572 | ||||||
669,259 | ||||||||
Poland: 1.7% | ||||||||
PLN | 1,216,000 | Republic of Poland Government Bond 2.50%, 07/25/27 | 334,293 | |||||
Qatar: 1.2% | ||||||||
USD | 215,000 | Qatar Government International Bond Reg S 3.25%, 06/02/26 | 233,952 | |||||
Romania: 1.0% | ||||||||
RON | 755,000 | Romania Government Bond 3.65%, 07/28/25 | 188,726 | |||||
Senegal: 0.3% | ||||||||
USD | 49,000 | Senegal Government International Bond 144A 6.25%, 05/23/33 | 49,040 | |||||
South Africa: 5.9% | ||||||||
Republic of South Africa Government Bonds | ||||||||
ZAR | 10,397,000 | 8.00%, 01/31/30 (a) | 642,794 | |||||
8,494,000 | 8.25%, 03/31/32 | 497,770 | ||||||
1,140,564 | ||||||||
South Korea: 0.7% | ||||||||
Korea International Bonds | ||||||||
USD | 79,000 | 3.88%, 09/20/48 | 93,686 | |||||
34,000 | 4.13%, 06/10/44 | 40,858 | ||||||
134,544 | ||||||||
Suriname: 3.1% | ||||||||
885,000 | Republic of Suriname International Bond Reg S 9.25%, 10/26/26 | 601,800 | ||||||
Thailand: 0.7% | ||||||||
Thailand Government Bonds | ||||||||
THB | 1,110,000 | 1.60%, 12/17/29 | 35,162 | |||||
2,696,000 | 3.30%, 06/17/38 | 94,694 | ||||||
129,856 | ||||||||
United Arab Emirates: 0.9% | ||||||||
USD | 168,000 | Abu Dhabi Government International Bond Reg S 2.50%, 04/16/25 | 177,457 | |||||
Uruguay: 0.5% | ||||||||
UYU | 3,864,000 | Uruguay Government International Bond Reg S 8.50%, 03/15/28 | 91,531 | |||||
Total Government Obligations (Cost: $14,577,304) | 14,566,428 | |||||||
Number of Shares | ||||||||
COMMON STOCK: 0.0% (Cost: $0) | ||||||||
3,236 | Corp. GEO SAB de CV * # | $ | 0 | |||||
MONEY MARKET FUND: 0.1% (Cost: $15,058) | ||||||||
15,058 | Invesco Treasury Portfolio - Institutional Class | 15,058 | ||||||
Total Investments Before Collateral for Securities Loaned: 98.8% (Cost: $19,074,185) | 18,968,967 | |||||||
SHORT-TERM INVESTMENTS HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.9% (Cost: $170,190) | ||||||||
170,190 | State Street Navigator Securities Lending Government Money Market Portfolio | 170,190 | ||||||
Total Investments: 99.7% (Cost: $19,244,375) | 19,139,157 | |||||||
Other assets less liabilities: 0.3% | 58,124 | |||||||
NET ASSETS: 100.0% | $ | 19,197,281 |
Definitions:
CLP | Chilean Peso |
CNY | Chinese Yuan |
COP | Colombian Peso |
CZK | Czech Koruna |
DOP | Dominican Peso |
HUF | Hungarian Forint |
IDR | Indonesian Rupiah |
ILS | Israeli Sheqel |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
PHP | Philippine Peso |
PLN | Polish Zloty |
RON | Romanian Leu |
THB | Thai Baht |
USD | United States Dollar |
UYU | Uruguayan Peso |
ZAR | South African Rand |
Footnotes: | |
(a) | All or a portion of these securities are segregated for foreign forward currency contracts. |
(d) | Security in default |
(s) | The rate shown reflects the rate in effect at the end of the reporting period. Coupon adjusts periodically based upon a predetermined schedule |
* | Non-income producing |
† | Security fully or partially on loan. Total market value of securities on loan is $875,024. |
# | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $0 which represents 0.0% of net assets. |
Reg S | Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. |
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, and the value amounted to $3,903,979, or 20.3% of net assets. |
Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
Basic Materials | 2.7 | % | $ | 516,099 | ||||
Consumer, Cyclical | 0.8 | 144,084 | ||||||
Consumer, Non-cyclical | 2.3 | 437,783 | ||||||
Energy | 7.3 | 1,391,834 | ||||||
Financial | 6.5 | 1,231,805 | ||||||
Government | 76.8 | 14,566,428 | ||||||
Industrial | 1.6 | 312,948 | ||||||
Utilities | 1.9 | 352,928 | ||||||
Money Market Fund | 0.1 | 15,058 | ||||||
100.0 | % | $ | 18,968,967 |
VANECK VIP EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
March 31, 2021 (unaudited)
Number of Shares | Value | |||||||
COMMON STOCKS: 95.2% | ||||||||
Argentina: 1.2% | ||||||||
1,480 | MercadoLibre, Inc. (USD) * | $ | 2,178,767 | |||||
Brazil: 4.2% | ||||||||
310,400 | Fleury SA | 1,411,749 | ||||||
692,700 | JSL SA | 1,023,916 | ||||||
285,200 | Locaweb Servicos de Internet SA Reg S 144A | 1,157,795 | ||||||
386,000 | Movida Participacoes SA | 1,148,677 | ||||||
14,900 | Rede D’Or Sao Luiz SA Reg S 144A | 171,828 | ||||||
224,400 | Rumo SA * | 807,316 | ||||||
154,000 | Vamos Locacao de Caminhoes Maquinas e Equipamentos SA * | 957,601 | ||||||
62,012 | Vasta Platform Ltd. (USD) * † | 610,818 | ||||||
236,000 | Westwing Comercio Varejista Ltda * | 384,483 | ||||||
7,674,183 | ||||||||
British Virgin Islands: 0.8% | ||||||||
121,400 | Fix Price Group Ltd. Reg S (GDR) * | 1,184,864 | ||||||
958,802 | Juhayna Food Industries # | 349,174 | ||||||
1,534,038 | ||||||||
China / Hong Kong: 34.2% | ||||||||
48,660 | Alibaba Group Holding Ltd. (ADR) * | 11,032,682 | ||||||
664,000 | Alibaba Health Information Technology Ltd. * # | 1,897,257 | ||||||
759,250 | A-Living Services Co. Ltd. Reg S 144A † # | 3,379,945 | ||||||
18,870 | Baozun, Inc. (ADR) * † | 719,702 | ||||||
3,588,969 | China Animal Healthcare Ltd. * # ∞ | 0 | ||||||
333,000 | China Conch Venture Holdings Ltd. # | 1,568,907 | ||||||
1,993,000 | China Education Group Holdings Ltd. Reg S # | 3,555,859 | ||||||
1,769,000 | Fu Shou Yuan International Group Ltd. # | 1,818,992 | ||||||
28,400 | GDS Holdings Ltd. (ADR) * | 2,302,956 | ||||||
93,984 | Hundsun Technologies, Inc. # | 1,211,764 | ||||||
40,100 | HUYA, Inc. (ADR) * † | 781,148 | ||||||
95,000 | Meituan Dianping Reg S 144A * # | 3,707,298 | ||||||
11,300 | NetEase, Inc. (ADR) | 1,166,838 | ||||||
124,100 | New Oriental Education & Technology Group, Inc. (ADR) * | 1,737,400 | ||||||
55,500 | OneConnect Financial Technology Co. Ltd. (ADR) * | 820,290 | ||||||
606,000 | Ping An Bank Co. Ltd. # | 2,040,068 | ||||||
57,000 | Ping An Healthcare and Technology Co. Ltd. Reg S 144A * † # | 719,435 | ||||||
254,000 | Ping An Insurance Group Co. of China Ltd. # | 3,038,184 | ||||||
270,988 | Qingdao TGOOD Electric Co. Ltd. # | 1,054,115 | ||||||
152,200 | Tencent Holdings Ltd. # | 12,146,704 | ||||||
61,600 | Tencent Music Entertainment Group (ADR) * | 1,262,184 | ||||||
926,000 | Topsports International Holdings Ltd. Reg S 144A # | 1,380,778 | ||||||
204,500 | Wuxi Biologics Cayman, Inc. Reg S 144A * # | 2,578,897 | ||||||
46,954 | Yifeng Pharmacy Chain Co. Ltd. # | 637,094 | ||||||
33,230 | Yum China Holdings, Inc. (USD) | 1,967,548 | ||||||
62,526,045 | ||||||||
Egypt: 1.8% | ||||||||
2,736,135 | Cleopatra Hospital * | 793,814 | ||||||
437,187 | Commercial International Bank Egypt SAE # | 1,613,699 | ||||||
378,902 | Fawry for Banking & Payment Technology Services SAE * # | 791,679 | ||||||
3,199,192 | ||||||||
Georgia: 1.0% | ||||||||
84,700 | Bank of Georgia Group Plc (GBP) * # | 1,284,409 | ||||||
60,700 | Georgia Capital Plc (GBP) * | 483,676 | ||||||
1,768,085 | ||||||||
Germany: 1.9% | ||||||||
26,800 | Delivery Hero SE Reg S 144A * # | 3,473,740 | ||||||
Hungary: 0.8% | ||||||||
32,500 | OTP Bank Nyrt * # | 1,389,258 | ||||||
India: 11.3% | ||||||||
296,678 | Bandhan Bank Ltd. Reg S 144A # | 1,386,558 | ||||||
432,400 | Cholamandalam Investment and Finance Co. Ltd. # | 3,326,750 | ||||||
268,200 | HDFC Bank Ltd. # | 5,492,741 | ||||||
51,400 | HDFC Bank Ltd. (ADR) | 3,993,266 | ||||||
1,420,073 | Lemon Tree Hotels Ltd. Reg S 144A * # | 722,888 | ||||||
116,000 | Oberoi Realty Ltd. # | 922,964 | ||||||
120,800 | Phoenix Mills Ltd. # | 1,279,597 | ||||||
7,133 | Reliance Industries Ltd. # | 107,172 | ||||||
127,000 | Reliance Industries Ltd. # | 3,496,464 | ||||||
20,728,400 | ||||||||
Indonesia: 0.4% | ||||||||
2,230,000 | Bank Rakyat Indonesia Tbk PT # | 676,547 | ||||||
Japan: 1.3% | ||||||||
9,650,000 | Bank BTPN Syariah Tbk PT # | 2,316,094 | ||||||
Kazakhstan: 0.9% | ||||||||
22,600 | Kaspi.kz JSC Reg S (GDR) | 1,604,600 | ||||||
Kenya: 0.7% | ||||||||
3,807,000 | Safaricom Plc | 1,267,259 | ||||||
Kuwait: 0.6% | ||||||||
83,455 | Human Soft Holding Co. KSC * | 1,021,278 | ||||||
Mexico: 2.6% | ||||||||
471,183 | Qualitas Controladora SAB de CV | 2,591,109 | ||||||
471,800 | Regional SAB de CV | 2,217,330 | ||||||
4,808,439 | ||||||||
Philippines: 2.5% | ||||||||
1,665,000 | Ayala Land, Inc. # | 1,180,579 | ||||||
8,780,000 | Bloomberry Resorts Corp. * # | 1,261,739 | ||||||
887,200 | International Container Terminal Services, Inc. # | 2,217,916 | ||||||
4,660,234 | ||||||||
Poland: 0.3% | ||||||||
29,000 | InPost SA * | 474,960 | ||||||
Russia: 3.1% | ||||||||
525,200 | Detsky Mir PJSC Reg S 144A # | 996,727 | ||||||
189,480 | Sberbank of Russia PJSC (ADR) # | 2,913,344 | ||||||
28,837 | Yandex NV (USD) * † | 1,847,298 | ||||||
5,757,369 | ||||||||
South Africa: 6.2% | ||||||||
14,745 | Naspers Ltd. # | 3,531,578 | ||||||
46,305 | Prosus NV * # | 5,152,760 | ||||||
1,288,924 | Transaction Capital Ltd. * # | 2,707,926 | ||||||
11,392,264 | ||||||||
South Korea: 5.6% | ||||||||
9,460 | Douzone Bizon Co. Ltd. # | 824,760 | ||||||
2,335 | LG Chem Ltd. # | 1,670,978 | ||||||
9,845 | Naver Corp. # | 3,296,129 | ||||||
7,485 | Samsung SDI Co. Ltd. # | 4,401,344 | ||||||
10,193,211 | ||||||||
Spain: 0.3% | ||||||||
21,903 | CIE Automotive SA † # | 574,583 | ||||||
Taiwan: 9.0% | ||||||||
267,000 | Chroma ATE, Inc. # | 1,778,879 | ||||||
39,000 | MediaTek, Inc. # | 1,341,475 | ||||||
120,010 | Poya International Co. Ltd. # | 2,516,617 | ||||||
11,100 | Sea Ltd. (ADR) * † | 2,477,853 | ||||||
323,000 | Taiwan Semiconductor Manufacturing Co. Ltd. # | 6,802,119 | ||||||
50,000 | Wiwynn Corp. # | 1,482,246 | ||||||
16,399,189 | ||||||||
Tanzania: 1.1% | ||||||||
897,900 | Helios Towers Plc (GBP) * † # | 2,089,662 | ||||||
Thailand: 0.7% | ||||||||
255,826 | Srisawad Corp. PCL (NVDR) # | 698,737 | ||||||
1,074,000 | Thai Beverage PCL (SGD) # | 592,196 | ||||||
1,290,933 | ||||||||
Turkey: 2.3% | ||||||||
232,296 | AvivaSA Emeklilik ve Hayat AS # | 494,831 | ||||||
684,140 | MLP Saglik Hizmetleri AS Reg S 144A * # | 1,719,158 | ||||||
664,968 | Sok Marketler Ticaret AS * # | 947,536 | ||||||
247,000 | Tofas Turk Otomobil Fabrikasi AS # | 992,761 | ||||||
4,154,286 | ||||||||
United Kingdom: 0.0% | ||||||||
1,235,312 | Hirco Plc * # ∞ | 2 | ||||||
United States: 0.4% | ||||||||
59,300 | Laureate Education, Inc. * | 805,887 | ||||||
Total Common Stocks (Cost: $118,770,184) | 173,958,505 | |||||||
PREFERRED STOCKS: 2.9% | ||||||||
South Korea: 2.9% (Cost: $5,246,069) | ||||||||
82,500 | Samsung Electronics Co. Ltd., 4.10% # | 5,343,377 | ||||||
MONEY MARKET FUND: 1.8% (Cost: $3,282,650) | ||||||||
3,282,650 | Invesco Treasury Portfolio - Institutional Class | 3,282,650 | ||||||
Total Investments Before Collateral for Securities Loaned: 99.9% (Cost: $127,298,903) | 182,584,532 | |||||||
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.4% (Cost: $835,897) | ||||||||
Money Market Fund: 0.4% | ||||||||
835,897 | State Street Navigator Securities Lending Government Money Market Portfolio | 835,897 | ||||||
Total Investments: 100.3% (Cost: $128,134,800) | 183,420,429 | |||||||
Liabilities in excess of other assets: (0.3)% | (614,463 | ) | ||||||
NET ASSETS: 100.0% | $ | 182,805,966 | ||||||
Total Investments: 100.3% (Cost: $128,134,800) | 183,420,429 | |||||||
Liabilities in excess of other assets: (0.3)% | (614,463 | ) | ||||||
NET ASSETS: 100.0% | $ | 182,805,966 |
Definitions:
ADR | American Depositary Receipt |
GBP | British Pound |
GDR | Global Depositary Receipt |
NVDR | Non-Voting Depositary Receipt |
SGD | Singapore Dollar |
USD | United States Dollar |
Footnotes:
* | Non-income producing |
† | Security fully or partially on loan. Total market value of securities on loan is $5,785,736. |
# | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $126,894,990 which represents 69.4% of net assets. |
∞ | Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy |
Reg | S Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. |
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, and the value amounted to $21,395,047, or 11.7% of net assets. |
Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
Communication Services | 14.4 | % | $ | 26,335,075 | ||||
Consumer Discretionary | 28.1 | 51,329,749 | ||||||
Consumer Staples | 1.4 | 2,526,000 | ||||||
Energy | 2.0 | 3,603,636 | ||||||
Financials | 22.1 | 40,269,129 | ||||||
Health Care | 5.1 | 9,292,138 | ||||||
Industrials | 6.9 | 12,633,353 | ||||||
Information Technology | 15.5 | 28,258,684 | ||||||
Materials | 0.9 | 1,670,978 | ||||||
Real Estate | 1.8 | 3,383,140 | ||||||
Money Market Fund | 1.8 | 3,282,650 | ||||||
100.0 | % | $ | 182,584,532 |
VANECK VIP GLOBAL GOLD FUND
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2021 (unaudited)
Number of Shares | Value | |||||||
COMMON STOCKS: 93.2% | ||||||||
Australia: 15.0% | ||||||||
2,071,600 | Bellevue Gold Ltd. * # | $ | 1,229,102 | |||||
844,632 | De Grey Mining Ltd. * † # | 634,767 | ||||||
407,600 | Emerald Resources NL * # | 238,598 | ||||||
657,892 | Evolution Mining Ltd. # | 2,049,607 | ||||||
254,310 | Gold Road Resources Ltd. * # | 213,175 | ||||||
189,200 | Northern Star Resources Ltd. # | 1,370,512 | ||||||
2,492,600 | West African Resources Ltd. * # | 1,455,307 | ||||||
7,191,068 | ||||||||
Brazil: 4.6% | ||||||||
58,000 | Wheaton Precious Metals Corp. (USD) | 2,216,180 | ||||||
Canada: 57.6% | ||||||||
35,087 | Agnico-Eagle Mines Ltd. (USD) | 2,028,379 | ||||||
109,940 | Alamos Gold, Inc. (USD) | 858,631 | ||||||
656,388 | B2Gold Corp. (USD) | 2,829,032 | ||||||
126,028 | Barrick Gold Corp. (USD) | 2,495,354 | ||||||
244,000 | Bear Creek Mining Corp. * | 421,326 | ||||||
261,000 | Benchmark Metals, Inc. * | 274,146 | ||||||
186,314 | Bonterra Resources, Inc. * | 166,047 | ||||||
35,400 | Bonterra Resources, Inc. * # ø ∞ | 30,184 | ||||||
390,369 | Corvus Gold, Inc. * | 695,812 | ||||||
131,994 | Equinox Gold Corp. (USD) * | 1,054,632 | ||||||
1,140 | Franco-Nevada Corp. (USD) | 142,831 | ||||||
562,000 | G Mining Ventures Corp. * | 402,483 | ||||||
398,500 | Galway Metals, Inc. * | 304,416 | ||||||
131,500 | GoGold Resources, Inc. * # ø ∞ | 245,902 | ||||||
234,106 | Gold Standard Ventures Corp. (USD) * | 135,969 | ||||||
31,232 | Great Bear Resources Ltd. * | 381,733 | ||||||
424,100 | Kinross Gold Corp. (USD) | 2,828,747 | ||||||
90,016 | Kirkland Lake Gold Ltd. (USD) | 3,042,541 | ||||||
1,370,185 | Liberty Gold Corp. * | 1,580,941 | ||||||
27,700 | Lundin Gold, Inc. * | 216,892 | ||||||
244,100 | Marathon Gold Corp. * | 433,153 | ||||||
38,000 | O3 Mining, Inc. * # | 71,608 | ||||||
76,100 | O3 Mining, Inc. * | 147,755 | ||||||
831,888 | Orezone Gold Corp. * | 622,244 | ||||||
358,500 | Osisko Mining, Inc. * | 838,696 | ||||||
13,770 | Perpetua Resources Corp. * | 83,713 | ||||||
44,700 | Pretium Resources, Inc. (USD) * | 463,539 | ||||||
177,100 | Probe Metals, Inc. * | 190,248 | ||||||
552,449 | Pure Gold Mining, Inc. * | 716,553 | ||||||
159,000 | Pure Gold Mining, Inc. * # ø ∞ | 206,231 | ||||||
469,506 | Rio2 Ltd. * | 276,466 | ||||||
513,200 | Sabina Gold and Silver Corp. * | 739,152 | ||||||
100,000 | Skeena Resources Ltd. * | 255,431 | ||||||
52,500 | SSR Mining, Inc. (USD)* | 749,700 | ||||||
567,000 | Wallbridge Mining Co. Ltd. * | 275,221 | ||||||
318,848 | Yamana Gold, Inc. (USD) | 1,383,800 | ||||||
27,589,508 | ||||||||
Ivory Coast: 4.1% | ||||||||
97,040 | Endeavour Mining Corp. (CAD) * | 1,955,935 | ||||||
South Africa: 2.5% | ||||||||
129,200 | Gold Fields Ltd. (ADR) | 1,226,108 | ||||||
United States: 9.4% | ||||||||
134,700 | Argonaut Gold, Inc. (CAD) * | 246,527 | ||||||
31,400 | Gatos Silver, Inc. * | 313,058 | ||||||
200,482 | GoGold Resources, Inc. (CAD) * | 374,897 | ||||||
41,000 | Golden Star Resources Ltd. * | 120,950 | ||||||
57,168 | Newmont Mining Corp. | 3,445,515 | ||||||
4,500,947 | ||||||||
Total Common Stocks (Cost: $28,920,194) | 44,679,746 | |||||||
WARRANTS: 1.2% | ||||||||
Canada: 1.2% | ||||||||
130,500 | Benchmark Metals, Inc. (CAD 1.80, expiring 09/18/22) * # ∞ | 42,493 | ||||||
16,000 | Bonterra Resources, Inc. (CAD 3.10, expiring 08/20/21) * # ∞ | 0 | ||||||
281,000 | G Mining Ventures Corp. (CAD 0.80, expiring 05/20/22) * # ø ∞ | 95,657 | ||||||
352,000 | Liberty Gold Corp. (CAD 0.60, expiring 10/02/21) * # ∞ | 239,484 | ||||||
69,500 | Marathon Gold Corp. (CAD 1.90, expiring 05/26/21) * # ∞ | 20,573 | ||||||
84,000 | Marathon Gold Corp. (CAD 1.60, expiring 09/30/21) * # ∞ | 45,379 | ||||||
38,050 | O3 Mining, Inc. (CAD 3.25, expiring 06/18/22) * # ∞ | 12,953 | ||||||
19,500 | Osisko Mining, Inc. (CAD 5.25, expiring 12/23/21) * # ∞ | 4,329 | ||||||
144,500 | Pure Gold Mining, Inc. (CAD 0.85, expiring 7/18/22) * # ∞ | 94,103 | ||||||
Total Warrants (Cost: $184,110) | 554,971 | |||||||
MONEY MARKET FUND: 6.3% (Cost: $3,028,170) | ||||||||
3,028,170 | Invesco Treasury Portfolio - Institutional Class | 3,028,170 | ||||||
Total Investments: 100.7% (Cost: $32,132,474) | 48,262,887 | |||||||
Liabilities in excess of other assets: (0.7)% | (344,224 | ) | ||||||
NET ASSETS: 100.0% | $ | 47,918,663 |
Definitions:
ADR | American Depositary Receipt |
CAD | Canadian Dollar |
USD | United States Dollar |
Footnotes:
* | Non-income producing |
† | Security fully or partially on loan. Total market value of securities on loan is $603,028. |
# | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $8,299,964 which represents 17.3% of net assets. |
ø | Restricted Security - the aggregate value of restricted securities is $577,974, or 1.2% of net assets. |
∞ | Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy |
Schedule of Open Forward Foreign Currency Contracts - March 31, 2021
Counterparty | Currency to be sold | Currency to be purchased | Settlement Date | Unrealized Appreciation | ||||||||||
State Street Bank And Trust Company | USD | 242,783 | CAD | 306,180 | 4/15/2021 | $ | 865 |
CAD | Canadian Dollar |
USD | United States Dollar |
Restricted securities held by the Fund as of March 31, 2021 are as follows:
Security | Acquisition Date | Number of Shares | Acquisition Cost | Value | % of Net Assets | |||||||||||||
Bonterra Resources, Inc. | 12/09/2020 | 35,400 | $ | 31,756 | $ | 30,184 | 0.1 | % | ||||||||||
G Mining Ventures Corp. Warrants | 03/25/2021 | 281,000 | 59,013 | 95,657 | 0.2 | |||||||||||||
GoGold Resources, Inc. | 01/25/2021 | 131,500 | 96,629 | 245,902 | 0.5 | |||||||||||||
Pure Gold Mining, Inc. | 01/06/2021 | 159,000 | 112,251 | 206,231 | 0.4 | |||||||||||||
$ | 299,649 | $ | 577,974 | 1.2 | % |
Summary of Investments by Sector | % of Investments | Value | ||||||
Diversified Metals & Mining | 4.1 | % | $ | 1,998,620 | ||||
Gold | 84.8 | 40,925,084 | ||||||
Precious Metals & Minerals | 4.1 | 1,997,955 | ||||||
Silver Mining | 0.7 | 313,058 | ||||||
Money Market Fund | 6.3 | 3,028,170 | ||||||
100.0 | % | $ | 48,262,887 |
VANECK VIP GLOBAL HARD ASSETS FUND
SCHEDULE OF INVESTMENTS
March 31, 2021 (unaudited)
Number of Shares | Value | |||||||
COMMON STOCKS: 98.5% | ||||||||
Australia: 3.6% | ||||||||
694,280 | Ecograf Ltd. * † # | $ | 309,833 | |||||
214,900 | Galaxy Resources Ltd. * † # | 415,631 | ||||||
38,300 | Piedmont Lithium Ltd. (ADR) * † | 2,661,467 | ||||||
115,200 | Rio Tinto Plc (ADR) † | 8,945,280 | ||||||
12,332,211 | ||||||||
Brazil: 0.9% | ||||||||
59,100 | Yara International ASA (NOK) # | 3,078,786 | ||||||
Canada: 11.5% | ||||||||
131,022 | Agnico-Eagle Mines Ltd. (USD) | 7,574,382 | ||||||
588,500 | B2Gold Corp. (USD) | 2,536,435 | ||||||
353,474 | Barrick Gold Corp. (USD) | 6,998,785 | ||||||
1,003,235 | Euro Manganese, Inc. (AUD) * | 525,785 | ||||||
804,700 | Kinross Gold Corp. (USD) | 5,367,349 | ||||||
184,231 | Kirkland Lake Gold Ltd. (USD) | 6,227,008 | ||||||
190,665 | Nutrien Ltd. (USD) (b) | 10,274,937 | ||||||
39,504,681 | ||||||||
Cayman Islands: 0.9% | ||||||||
185,000 | Alussa Energy Acquisition Corp. (USD) * # ∞ (a) | 1,763,635 | ||||||
123,900 | Alussa Energy Acquisition Corp. (USD) * † | 1,239,000 | ||||||
3,002,635 | ||||||||
Chile: 2.4% | ||||||||
816,400 | Lundin Mining Corp. (CAD) | 8,399,819 | ||||||
Finland: 0.8% | ||||||||
54,900 | Neste Oil Oyj # | 2,915,503 | ||||||
Ivory Coast: 0.9% | ||||||||
161,500 | Endeavour Mining Corp. (CAD) * | 3,255,188 | ||||||
Norway: 0.9% | ||||||||
154,600 | Equinor ASA (ADR) † | 3,008,516 | ||||||
South Africa: 6.8% | ||||||||
317,100 | Anglo American Plc (GBP) # | 12,420,107 | ||||||
540,500 | Sibanye Stillwater Ltd. (ADR) | 9,653,330 | ||||||
239,600 | Sibanye Stillwater Ltd. † # | 1,066,650 | ||||||
23,140,087 | ||||||||
Spain: 0.2% | ||||||||
57,700 | Soltec Power Holdings SA * † | 711,834 | ||||||
United States: 65.5% | ||||||||
90,500 | Bunge Ltd. | 7,173,935 | ||||||
229,200 | Cabot Oil & Gas Corp. | 4,304,376 | ||||||
43,500 | Chart Industries, Inc. * | 6,192,225 | ||||||
65,500 | Chevron Corp. | 6,863,745 | ||||||
132,600 | Cimarex Energy Co. | 7,875,114 | ||||||
157,000 | Climate Change Crisis Real Impact I Acquisition Corp. * # ∞ (a) | 1,973,702 | ||||||
124,443 | ConocoPhillips | 6,591,746 | ||||||
92,833 | Corteva, Inc. | 4,327,874 | ||||||
56,300 | Darling Ingredients, Inc. * | 4,142,554 | ||||||
284,678 | Devon Energy Corp. | 6,220,214 | ||||||
119,147 | Diamondback Energy, Inc. | 8,756,113 | ||||||
16,933 | Dow, Inc. | 1,082,696 | ||||||
16,133 | DuPont de Nemours, Inc. | 1,246,758 | ||||||
244,700 | EQT Corp. * | 4,546,526 | ||||||
68,100 | FMC Corp. | 7,532,541 | ||||||
459,500 | Freeport-McMoRan, Inc. | 15,131,335 | ||||||
254,100 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. † | 14,255,010 | ||||||
24,900 | IPG Photonics Corp. * | 5,252,406 | ||||||
11,700 | Kansas City Southern | 3,087,864 | ||||||
58,300 | Kirby Corp. * | 3,514,324 | ||||||
409,100 | Liberty Oilfield Services, Inc. * | 4,618,739 | ||||||
115,200 | Louisiana-Pacific Corp. | 6,388,992 | ||||||
77,000 | MP Materials Corp. * † | 2,768,150 | ||||||
156,396 | Newmont Mining Corp. | 9,425,987 | ||||||
65,500 | Ormat Technologies, Inc. | 5,143,715 | ||||||
87,844 | Pioneer Natural Resources Co. | 13,951,384 | ||||||
22,300 | Sanderson Farms, Inc. | 3,473,894 | ||||||
41,500 | SolarEdge Technologies, Inc. * | 11,928,760 | ||||||
286,300 | Solaris Oilfield Infrastructure, Inc. | 3,512,901 | ||||||
154,400 | Star Peak Corp. II * | 1,615,796 | ||||||
177,000 | Star Peak Energy Transition Corp. * # ∞ (a) | 4,300,672 | ||||||
186,899 | Star Peak Energy Transition Corp. * † | 4,967,775 | ||||||
188,500 | Sunrun, Inc. * † | 11,400,480 | ||||||
115,200 | Tyson Foods, Inc. | 8,559,360 | ||||||
11,800 | Union Pacific Corp. | 2,600,838 | ||||||
134,700 | Valero Energy Corp. | 9,644,520 | ||||||
224,373,021 | ||||||||
Zambia: 4.1% | ||||||||
733,900 | First Quantum Minerals Ltd. (CAD) | 13,986,556 | ||||||
Total Common Stocks (Cost: $214,137,426) | 337,708,837 | |||||||
WARRANTS: 0.5% | ||||||||
Cayman Islands: 0.1% | ||||||||
55,100 | Alussa Energy Acquisition Corp. 10/31/26 (USD 11.50, expiring 10/31/26) (s) | 125,628 | ||||||
United States: 0.4% | ||||||||
103,033 | Star Peak Energy Transition Corp. 08/11/25 (USD 11.50, expiring 08/11/25) (s) | 1,457,917 | ||||||
Total Warrants (Cost: $300,588) | 1,583,545 | |||||||
MONEY MARKET FUND: 1.6% (Cost: $5,564,438) | ||||||||
5,564,438 | Invesco Treasury Portfolio - Institutional Class | 5,564,438 | ||||||
Total Investments Before Collateral for Securities Loaned: 100.6% (Cost: $220,002,452) | 344,856,820 | |||||||
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 2.6% (Cost: $8,998,579) | ||||||||
Money Market Fund: 2.6% | ||||||||
8,998,579 | State Street Navigator Securities Lending Government Money Market Portfolio | 8,998,579 | ||||||
Total Investments: 103.2% (Cost: $229,001,031) | 353,855,399 | |||||||
Liabilities in excess of other assets: (3.2)% | (11,078,426 | ) | ||||||
NET ASSETS: 100.0% | $ | 342,776,973 |
Definitions: | |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canadian Dollar |
GBP | British Pound |
NOK | Norwegian Krone |
USD | United States Dollar |
Footnotes: | |
(a) | Private Investment in a Public Entity (PIPE). |
(b) | All or a portion of these securities are segregated for the unfunded subscription agreement. Total value of securities segregated is $5,625,254. |
(s) | Special Purpose Acquisition Company (SPAC). |
* | Non-income producing. |
† | Security fully or partially on loan. Total market value of securities on loan is $32,308,176. |
# | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $28,244,519 which represents 8.2% of net assets. |
∞ | Security is valued using significant unobservable inputs that factor in discount for lack of marketability and is classified as Level 3 in the fair value hierarchy. |
Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
Consumer Staples | 6.8 | % | $ | 23,349,743 | ||||
Energy | 24.5 | 84,573,032 | ||||||
Financials | 4.1 | 14,255,010 | ||||||
Industrials | 8.0 | 27,507,565 | ||||||
Information Technology | 5.0 | 17,181,166 | ||||||
Materials | 44.0 | 151,601,661 | ||||||
Special Purpose Acquisition Company | 4.5 | 15,680,490 | ||||||
Utilities | 1.5 | 5,143,715 | ||||||
Money Market Fund | 1.6 | 5,564,438 | ||||||
100.0 | % | $ | 344,856,820 |