VANECK

GREEN

INFRASTRUCTURE

ETF

SCHEDULE

OF

INVESTMENTS

December

31,

2023

(unaudited)

1

See

Notes

to

Financial

Statements

FootnoteRuleAboveBlank

Footnotes:

Number

of

Shares

Value

COMMON

STOCKS:

99.4%

Automobiles

&

Components

:

18.9%

BorgWarner,

Inc.

2,062

$

73,923

Lucid

Group,

Inc. *

†

19,340

81,421

Rivian

Automotive,

Inc. *

†

4,515

105,921

Tesla,

Inc. *

357

88,707

349,972

Capital

Goods

:

19.0%

Ameresco,

Inc. *

300

9,501

Array

Technologies,

Inc. *

1,327

22,294

Bloom

Energy

Corp. *

†

1,966

29,097

ChargePoint

Holdings,

Inc. *

3,159

7,392

Donaldson

Co.,

Inc.

1,054

68,879

Energy

Recovery,

Inc. *

496

9,345

FuelCell

Energy,

Inc. *

3,954

6,326

Nikola

Corp. *

8,644

7,562

Plug

Power,

Inc. *

†

5,312

23,904

Quanta

Services,

Inc.

446

96,247

SES

AI

Corp. *

2,701

4,943

Shoals

Technologies

Group,

Inc. *

1,491

23,170

SunPower

Corp. *

†

1,537

7,424

Sunrun,

Inc. *

1,912

37,533

353,617

Commercial

&

Professional

Services

:

19.0%

Casella

Waste

Systems,

Inc. *

500

42,730

Clean

Harbors,

Inc. *

475

82,892

Montrose

Environmental

Group,

Inc. *

265

8,514

Republic

Services,

Inc.

536

88,392

Stericycle,

Inc. *

812

40,243

Waste

Management,

Inc.

501

89,729

352,500

Consumer

Discretionary

Distribution

&

Retail

:

0.2%

EVgo,

Inc. *

909

3,254

Underline

Energy

:

9.7%

Cheniere

Energy,

Inc.

504

86,038

Clean

Energy

Fuels

Corp. *

1,957

7,495

Green

Plains,

Inc. *

522

13,165

New

Fortress

Energy,

Inc. †

1,799

67,876

REX

American

Resources

Corp. *

154

7,284

181,858

Materials

:

4.8%

Ecolab,

Inc.

450

89,258

Underline

Number

of

Shares

Value

Semiconductors

&

Semiconductor

Equipment

:

11.3%

Enphase

Energy,

Inc. *

808

$

106,768

First

Solar,

Inc. *

601

103,540

210,308

Technology

Hardware

&

Equipment

:

1.6%

Itron,

Inc. *

399

30,128

Underline

Utilities

:

14.9%

Altus

Power,

Inc. *

1,395

9,528

Brookfield

Renewable

Corp.

1,576

45,373

Clearway

Energy,

Inc.

723

19,832

IDACORP,

Inc.

444

43,654

Montauk

Renewables,

Inc. *

1,260

11,227

NextEra

Energy

Partners

LP

820

24,936

Northwestern

Energy

Group,

Inc.

537

27,328

Ormat

Technologies,

Inc.

530

40,169

Southwest

Gas

Holdings,

Inc.

628

39,784

Sunnova

Energy

International,

Inc. *

†

1,074

16,379

278,210

Total

Common

Stocks

(Cost:

$1,884,063)

1,849,105

MASTER

LIMITED

PARTNERSHIP:

0.5%

(Cost:

$8,707)

Utilities

:

0.5%

Suburban

Propane

Partners

LP

562

9,981

Underline

Total

Investments

Before

Collateral

for

Securities

Loaned:

99.9%

(Cost:

$1,892,770)

1,859,086

SHORT-TERM

INVESTMENT

HELD

AS

COLLATERAL

FOR

SECURITIES

ON

LOAN:

7.1%

Money

Market

Fund:

7.1%

(Cost:

$132,705)

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

132,705

132,705

Total

Investments:

107.0%

(Cost:

$2,025,475)

1,991,791

Liabilities

in

excess

of

other

assets:

(7.0)%

(129,603)

NET

ASSETS:

100.0%

$

1,862,188

†

Security

fully

or

partially

on

loan.

Total

market

value

of

securities

on

loan

is

$293,164.

*

Non-income

producing

VANECK

GREEN

INFRASTRUCTURE

ETF

SCHEDULE

OF

INVESTMENTS

(continued)

2

See

Notes

to

Financial

Statements

Summary

of

Investments

by

Sector

Excluding

Collateral

for

Securities

Loaned

%

of

Investments

Value

Industrials

38.0

%

$

706,115

Consumer

Discretionary

19.0

353,227

Utilities

15.5

288,190

Information

Technology

12.9

240,438

Energy

9.8

181,859

Materials

4.8

89,258

100.0

%

$

1,859,087