VANECK VIP EMERGING MARKETS FUND
SCHEDULE OF INVESTMENTS
September 30, 2021 (unaudited)
Number of Shares | Value | |||||||
COMMON STOCKS: 94.9% | ||||||||
Argentina: 3.0% | ||||||||
MercadoLibre, Inc. (USD) * | 2,990 | $ | 5,021,406 | |||||
Brazil: 6.2% | ||||||||
Fleury SA | 330,400 | 1,342,046 | ||||||
Infracommerce CXAAS SA * | 226,400 | 706,753 | ||||||
JSL SA | 812,500 | 1,387,550 | ||||||
Locaweb Servicos de Internet SA 144A * | 285,200 | 1,198,251 | ||||||
Movida Participacoes SA * | 494,000 | 1,553,913 | ||||||
Rede D’Or Sao Luiz SA 144A | 115,700 | 1,442,811 | ||||||
Rumo SA * | 37,400 | 115,309 | ||||||
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA * | 733,000 | 2,012,275 | ||||||
Vasta Platform Ltd. (USD) * † | 62,012 | 282,775 | ||||||
Westwing Comercio Varejista Ltda * | 236,000 | 191,981 | ||||||
10,233,664 | ||||||||
British Virgin Islands: 1.4% | ||||||||
Fix Price Group Ltd. (GDR) | 231,400 | 2,079,129 | ||||||
Juhayna Food Industries (EGP) # * | 503,012 | 178,525 | ||||||
2,257,654 | ||||||||
China: 23.5% | ||||||||
Alibaba Group Holding Ltd. (ADR) * | 6,960 | 1,030,428 | ||||||
Alibaba Group Holding Ltd. (HKD) # * | 76,000 | 1,407,059 | ||||||
Alibaba Health Information Technology Ltd. (HKD) # * † | 1,184,000 | 1,705,005 | ||||||
China Animal Healthcare Ltd. (HKD) # * ∞ | 3,588,969 | 1 | ||||||
China Conch Venture Holdings Ltd. (HKD) # | 128,000 | 594,352 | ||||||
China Education Group Holdings Ltd. (HKD) # † | 2,208,000 | 3,808,621 | ||||||
China Feihe Ltd. (HKD) 144A # | 755,000 | 1,272,574 | ||||||
Fu Shou Yuan International Group Ltd. (HKD) # | 1,469,000 | 1,221,913 | ||||||
GDS Holdings Ltd. (ADR) * | 14,900 | 843,489 | ||||||
GDS Holdings Ltd. (HKD) # * | 148,800 | 1,055,097 | ||||||
Meituan (HKD) 144A # * | 49,000 | 1,564,150 | ||||||
NetEase, Inc. (ADR) | 7,700 | 657,580 | ||||||
NetEase, Inc. (HKD) # | 47,000 | 795,259 | ||||||
OneConnect Financial Technology Co. Ltd. (ADR) * | 43,373 | 177,829 | ||||||
Pharmaron Beijing Co. Ltd. (HKD) 144A # | 88,500 | 2,111,249 | ||||||
Ping An Bank Co. Ltd. # | 710,970 | 1,962,858 | ||||||
Qingdao TGOOD Electric Co. Ltd. # | 386,968 | 1,526,151 | ||||||
Shandong Head Co. Ltd. # * | 67,000 | 434,464 | ||||||
Shanghai Baosight Software Co. Ltd. # | 274,347 | 2,788,112 | ||||||
Tencent Holdings Ltd. (HKD) # | 78,200 | 4,668,440 | ||||||
Topsports International Holdings Ltd. (HKD) 144A # | 1,336,000 | 1,517,297 | ||||||
Wuxi Biologics Cayman, Inc. (HKD) 144A # * | 121,500 | 1,970,765 | ||||||
Wuxi Shangji Automation Co. Ltd. # | 10,300 | 441,557 | ||||||
Yifeng Pharmacy Chain Co. Ltd. # | 237,607 | 1,909,257 | ||||||
Yum China Holdings, Inc. (HKD) # | 16,600 | 978,057 | ||||||
Yum China Holdings, Inc. (USD) | 16,630 | 966,369 | ||||||
Zai Lab Ltd. (ADR) * † | 5,350 | 563,837 | ||||||
Zai Lab Ltd. (HKD) # * | 6,600 | 707,258 | ||||||
38,679,028 | ||||||||
Egypt: 1.9% | ||||||||
Cleopatra Hospital # * | 3,136,135 | 892,238 | ||||||
Commercial International Bank Egypt SAE # * | 582,916 | 1,576,971 | ||||||
Fawry for Banking & Payment Technology Services SAE # * | 656,418 | 592,727 | ||||||
3,061,936 | ||||||||
Georgia: 1.4% | ||||||||
Bank of Georgia Group Plc (GBP) # * | 84,700 | 1,770,880 | ||||||
Georgia Capital Plc (GBP) * | 60,700 | 490,723 | ||||||
2,261,603 | ||||||||
Germany: 2.3% | ||||||||
Delivery Hero SE 144A # * | 30,300 | 3,864,921 | ||||||
Hong Kong: 2.0% | ||||||||
A-Living Smart City Services Co. Ltd. 144A # † | 943,250 | 3,349,696 | ||||||
Hungary: 1.2% | ||||||||
OTP Bank Nyrt # * | 34,000 | 1,989,444 | ||||||
India: 11.8% | ||||||||
Cholamandalam Investment and Finance Co. Ltd. # | 289,400 | 2,183,747 | ||||||
HDFC Bank Ltd. # | 221,200 | 4,722,642 | ||||||
HDFC Bank Ltd. (ADR) | 51,400 | 3,756,826 | ||||||
Oberoi Realty Ltd. # * | 93,000 | 1,202,304 | ||||||
Phoenix Mills Ltd. # | 93,800 | 1,210,911 | ||||||
Reliance Industries Ltd. # | 193,133 | 6,453,193 | ||||||
19,529,623 | ||||||||
Japan: 1.5% | ||||||||
Bank BTPN Syariah Tbk PT (IDR) # | 10,450,000 | 2,521,832 | ||||||
Kazakhstan: 1.5% | ||||||||
Kaspi.kz JSC (USD) (GDR) # ∞ | 23,940 | 2,542,428 | ||||||
Kenya: 0.2% | ||||||||
Safaricom Plc | 887,600 | 341,385 | ||||||
Kuwait: 0.5% | ||||||||
Humansoft Holding Co. KSC # | 73,455 | 805,159 | ||||||
Mexico: 2.5% | ||||||||
Qualitas Controladora SAB de CV | 351,783 | 1,618,016 | ||||||
Regional SAB de CV | 439,800 | 2,516,735 | ||||||
4,134,751 | ||||||||
Philippines: 2.7% | ||||||||
Bloomberry Resorts Corp. * | 7,780,000 | 905,964 | ||||||
International Container Terminal Services, Inc. # | 940,200 | 3,590,993 | ||||||
4,496,957 | ||||||||
Poland: 0.7% | ||||||||
InPost SA (EUR) # * | 69,500 | 1,153,243 | ||||||
Russia: 4.3% | ||||||||
Detsky Mir PJSC 144A # | 704,200 | 1,256,024 | ||||||
Sberbank of Russia PJSC (ADR) # | 200,480 | 3,737,657 | ||||||
Yandex NV (USD) * † | 26,437 | 2,106,765 | ||||||
7,100,446 | ||||||||
South Africa: 4.3% | ||||||||
Prosus NV (EUR) # | 63,428 | 5,076,840 | ||||||
Transaction Capital Ltd. | 710,924 | 1,945,525 | ||||||
7,022,365 | ||||||||
South Korea: 6.4% | ||||||||
Doosan Fuel Cell Co. Ltd. # * | 23,700 | 1,022,461 | ||||||
LG Chem Ltd. # | 7,435 | 4,822,119 | ||||||
Naver Corp. # | 9,265 | 3,006,187 | ||||||
Samsung SDI Co. Ltd. # | 2,795 | 1,667,832 | ||||||
10,518,599 | ||||||||
Taiwan: 11.1% | ||||||||
Chroma ATE, Inc. # | 165,000 | 1,033,332 | ||||||
MediaTek, Inc. # | 122,000 | 3,926,872 | ||||||
Poya International Co. Ltd. # | 111,250 | 1,879,778 | ||||||
Sea Ltd. (ADR) * | 11,900 | 3,792,887 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. # | 329,000 | 6,804,405 | ||||||
Wiwynn Corp. # | 29,000 | 898,008 | ||||||
18,335,282 | ||||||||
Tanzania: 1.4% | ||||||||
Helios Towers Plc (GBP) * † | 976,071 | 2,380,436 | ||||||
Turkey: 3.1% | ||||||||
Agesa Hayat ve Emeklilik AS | 232,296 | 451,375 | ||||||
MLP Saglik Hizmetleri AS 144A # * | 684,140 | 2,117,106 | ||||||
Sok Marketler Ticaret AS # | 784,968 | 1,037,652 | ||||||
Tofas Turk Otomobil Fabrikasi AS # | 247,000 | 1,445,884 | ||||||
5,052,017 | ||||||||
United Kingdom: 0.0% | ||||||||
Hirco Plc # * ∞ | 1,235,312 | 2 | ||||||
Total Common Stocks (Cost: $123,931,761) | 156,653,877 | |||||||
PREFERRED SECURITIES: 3.2% (Cost: $5,743,994) | ||||||||
South Korea: 3.2% | ||||||||
Samsung Electronics Co. Ltd., 1.94% # | 89,900 | 5,244,646 | ||||||
MONEY MARKET FUND: 3.0% (Cost: $4,937,161) | ||||||||
Invesco Treasury Portfolio - Institutional Class | 4,937,161 | 4,937,161 | ||||||
Total Investments Before Collateral for Securities Loaned: 101.1% (Cost: $134,612,916) | 166,835,684 | |||||||
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR SECURITIES ON LOAN: 0.0% (Cost: $24,243) | ||||||||
Money Market Fund: 0.0% | ||||||||
State Street Navigator Securities Lending Government Money Market Portfolio | 24,243 | 24,243 | ||||||
Total Investments: 101.1% (Cost: $134,637,159) | 166,859,927 | |||||||
Liabilities in excess of other assets: (1.1)% | (1,886,812 | ) | ||||||
NET ASSETS: 100.0% | $ | 164,973,115 |
Definitions: | |
ADR | American Depositary Receipt |
EGP | Egyptian Pound |
EUR | Euro |
GBP | British Pound |
GDR | Global Depositary Receipt |
HKD | Hong Kong Dollar |
IDR | Indonesian Rupiah |
USD | United States Dollar |
Footnotes: | |
* | Non-income producing |
† | Security fully or partially on loan. Total market value of securities on loan is $4,866,302. |
# | Security has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $120,018,155 which represents 72.8% 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 |
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 $21,664,844, or 13.1% of net assets. |
Summary of Investments by Sector Excluding Collateral for Securities Loaned | % of Investments | Value | ||||||
Communication Services | 11.0 | % | $ | 18,455,691 | ||||
Consumer Discretionary | 21.2 | 35,303,755 | ||||||
Consumer Staples | 2.7 | 4,398,008 | ||||||
Energy | 3.9 | 6,453,192 | ||||||
Financials | 18.7 | 31,245,234 | ||||||
Health Care | 7.7 | 12,852,315 | ||||||
Industrials | 8.0 | 13,397,805 | ||||||
Information Technology | 17.2 | 28,773,029 | ||||||
Materials | 3.1 | 5,256,583 | ||||||
Real Estate | 3.5 | 5,762,911 | ||||||
Money Market Fund | 3.0 | 4,937,161 | ||||||
100.0 | % | $ | 166,835,684 |