N-Q 1 c89559_nq.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

 

FORM N-Q

 

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

 

MANAGEMENT INVESTMENT COMPANIES

 

INVESTMENT COMPANY ACT FILE NUMBER: 811-05083

 

 

 

VANECK VIP TRUST

(Exact name of registrant as specified in its charter)

 

 

666 Third Avenue, New York, NY   10017
(Address of principal executive offices)   (Zip Code)

 

 

Van Eck Associates Corporation

666 Third Avenue

New York, NY 10017

(Name and address of agent for service)

 

Registrant’s telephone number, including area code: (212)293-2000

  Date of fiscal year end:   December 31
 Date of reporting period:   September 30, 2017

 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1 -5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

 

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

ITEM 1. Schedule of Investments.

 

VANECK VIP EMERGING MARKETS FUND

SCHEDULE OF INVESTMENTS

September 30, 2017 (unaudited)

 

Number
of Shares
      Value 
COMMON STOCKS: 87.9%      
Argentina: 1.4%      
 106,500   Grupo Supervielle SA (ADR)  $2,629,485 
Brazil: 4.1%      
 105,900   CVC Brasil Operadora e Agencia de Viagens SA   1,369,245 
 230,100   Fleury SA   2,141,057 
 505,000   Movida Participacoes SA *   1,336,186 
 12,900   Ouro Fino Saude Animal Participacoes SA *   105,900 
 97,000   Smiles SA   2,464,853 
          7,417,241 
China / Hong Kong: 33.6%     
 369,000   AIA Group Ltd. #   2,731,817 
 63,640   Alibaba Group Holding Ltd. (ADR) *   10,991,264 
 2,158,000   Beijing Capital International Airport Co. Ltd. #   3,220,997 
 4,042,000   Beijing Enterprises Water Group Ltd. #   3,268,883 
 308,932   Beijing Originwater Technology Co. Ltd.   837,578 
 3,588,969   China Animal Healthcare Ltd. * # § ∞   0 
 30,250   China Lodging Group Ltd. (ADR) *   3,594,305 
 1,580,000   China Maple Leaf Educational Systems Ltd. #   1,770,984 
 1,257,000   China Medical System Holdings Ltd. #   2,201,316 
 448,000   China Resources Phoenix Healthcare Holdings Co. Ltd. #   560,186 
 1,144,000   Fu Shou Yuan International Group Ltd. #   755,827 
 406,000   Galaxy Entertainment Group Ltd. #   2,870,195 
 94,650   JD.com, Inc. (ADR) *   3,615,630 
 24,200   Kweichow Moutai Co. Ltd.  #   1,886,274 
 2,011,600   Man Wah Holdings Ltd. #   1,805,092 
 576,000   Ping An Insurance Group Co. of China Ltd. #   4,449,258 
 119,000   Shenzhou International Group Holdings Ltd. #   933,244 
 256,000   Sinopharm Group Co. Ltd. #   1,133,950 
 104,580   TAL Education Group (ADR)   3,525,392 
 258,100   Tencent Holdings Ltd. #   11,284,307 
          61,436,499 
Egypt: 0.6%      
 255,750   Commercial International Bank Egypt SAE   1,181,666 
India: 7.1%      
 1,128,000   Ashok Leyland Ltd. #   2,132,605 
 368,000   Bharti Infratel Ltd. #   2,241,328 
 104,000   Cholamandalam Investment and Finance Co. Ltd. #   1,733,947 
 78,000   HDFC Bank Ltd. #   2,150,612 
 18,600   HDFC Bank Ltd. (ADR)   1,792,482 
 164,800   Phoenix Mills Ltd. #   1,276,801 
 60,000   Strides Shasun Ltd. #   813,136 
 120,278   Syngene International Ltd. # Reg S 144A   917,856 
          13,058,767 
Indonesia: 2.1%      
 2,802,000   Bank Rakyat Indonesia Tbk PT #   3,181,162 
 1,756,000   Link Net Tbk PT   674,683 
          3,855,845 
Kenya: 1.4%      
 10,666,000   Safaricom Ltd.   2,585,070 
Luxembourg: 0.6%      
 134,910   Biotoscana Investments SA (BDR) *   1,030,839 
Malaysia: 1.0%      
 892,000   Malaysia Airports Holdings Bhd   1,795,619 
Mexico: 3.3%      
 191,000   Banregio Grupo Financiero SAB de CV   1,137,504 
 21,360   Fomento Economico Mexicano SAB de CV (ADR)   2,040,521 
 476,000   Qualitas Controladora SAB de CV *   782,093 
 631,000   Unifin Financiera SAPI de CV SOFOM ENR   2,115,461 
          6,075,579 
Peru: 1.1%      
 9,760   Credicorp Ltd. (USD)   2,000,995 
Philippines: 3.7%      
 2,430,000   Ayala Land, Inc. #   2,083,851 
 4,500,000   Bloomberry Resorts Corp. *   947,844 
 912,200   International Container Terminal Services, Inc. #   1,871,563 
 944,000   Robinsons Retail Holdings, Inc. #   1,841,232 
          6,744,490 
Poland: 0.4%      
 9,999   KRUK SA   804,113 
Russia: 3.0%      
 288,000   Sberbank of Russia (ADR)   4,109,760 
 40,037   Yandex NV (USD) *   1,319,219 
          5,428,979 
South Africa: 4.4%      
 606,000   Advtech Ltd.   792,259 
 25,100   Naspers Ltd. #   5,425,933 
 8,681   Novus Holdings Ltd. #   4,160 
 559,000   Rhodes Food Group Pty Ltd. #   755,248 
 1,029,924   Transaction Capital Ltd.   1,160,103 
          8,137,703 
South Korea: 0.8%      
 2,075   Samsung Biologics Co. Ltd. * # Reg S 144A   613,990 
 12,765   Soulbrain Co. Ltd. #   759,983 
          1,373,973 
Spain: 2.0%      
 136,803   CIE Automotive SA #   3,654,713 
Switzerland: 1.3%      
 13,300   Luxoft Holding, Inc. (USD) *   635,740 
 46,900   Wizz Air Holdings Plc (GBP) * # Reg S 144A   1,799,699 
          2,435,439 
Taiwan: 6.2%      
 114,664   Airtac International Group #   1,584,770 
 430,000   Basso Industry Corp. #   1,201,629 
 367,000   Chroma ATE, Inc. #   1,296,581 
 13,000   Largan Precision Co. Ltd. #   2,293,395 
 150,010   Poya Co. Ltd. #   1,795,141 
 438,000   Taiwan Semiconductor Manufacturing Co. Ltd. #   3,137,156 
          11,308,672 
Thailand: 3.6%      
 365,000   CP ALL PCL (NVDR) #   731,148 
 1,758,000   CP ALL PCL #   3,518,636 
 1,287,400   Srisawad Corp PCL (NVDR) #   2,319,789 
          6,569,573 
Turkey: 2.8%      
 136,283   AvivaSA Emeklilik ve Hayat AS   711,451 
 192,000   Tofas Turk Otomobil Fabrikasi AS #   1,663,575 
 5,314,043   Turkiye Sinai Kalkinma Bankasi AS #   2,072,807 
 137,000   Ulker Biskuvi Sanayi AS #   743,991 
          5,191,824 
United Arab Emirates: 0.6%      
 28,500   NMC Health Plc (GBP) #   1,054,359 
United Kingdom: 1.5%      
 62,200   Bank of Georgia Holdings Plc #   2,716,027 
 1,235,312   Hirco Plc * # § ∞   0 
          2,716,027 
United States: 1.3%      
 546,300   Samsonite International SA (HKD) #   2,346,014 
Total Common Stocks
(Cost: $118,736,747)
   160,833,484 
PREFERRED STOCKS: 8.1%      
Brazil: 0.6%      
 84,760   Itau Unibanco Holding SA   1,160,143 
Colombia: 1.0%      
 160,000   Banco Davivienda SA   1,812,154 
South Korea: 6.5%      
 6,573   Samsung Electronics Co. Ltd. #   11,889,508 
Total Preferred Stocks
(Cost: $10,655,701)
   14,861,805 
REAL ESTATE INVESTMENT TRUSTS: 1.1%      
Mexico: 1.1%      
 663,000   Concentradora Hipotecaria SAPI de CV   762,759 
 766,330   TF Administradora Industrial, S de RL de CV   1,319,300 
Total Real Estate Investment Trusts
(Cost: $2,406,826)
   2,082,059 
MONEY MARKET FUND: 3.1%
(Cost: $5,573,230)
      
 5,573,230   AIM Treasury Portfolio - Institutional Class   5,573,230 
Total Investments: 100.2%
(Cost: $137,372,504)
   183,350,578 
Liabilities in excess of other assets: (0.2)%    (368,009)
NET ASSETS: 100.0%   $182,982,569 
   
ADR American Depositary Receipt
BDR Brazilian Depositary Receipt
GBP British Pound
HKD Hong Kong Dollar
NVDR Non-Voting Depositary Receipt
USD United States Dollar
   
* Non-income producing
# Indicates a fair valued security which has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $112,494,675 which represents 61.5% of net assets.
§ Illiquid Security — the aggregate value of illiquid securities is $0 which represents 0.0% of net assets.
Investment value was determined using significant unobservable inputs.
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 $3,331,545, or 1.8% of net assets.

 

Summary of Investments
by Sector
  % of
Investments
  Value 
Consumer Discretionary   22.1%  $40,531,875 
Consumer Staples   6.3    11,517,050 
Financials   23.7    43,515,588 
Health Care   5.8    10,572,589 
Industrials   8.0    14,583,177 
Information Technology   23.4    42,847,170 
Materials   0.4    759,983 
Real Estate   2.5    4,679,952 
Telecommunication Services   3.0    5,501,081 
Utilities   1.8    3,268,883 
Money Market Fund   3.0    5,573,230 
    100.0%  $183,350,578 

 

The summary of inputs used to value the Fund’s investments as of September 30, 2017 is as follows:

 

   Level 1
Quoted
Prices
   Level 2
Significant
Observable
Inputs
   Level 3
Significant
Unobservable
Inputs
   Value 
Common Stocks                    
Argentina  $2,629,485   $   $   $2,629,485 
Brazil   7,417,241            7,417,241 
China / Hong Kong   22,564,169    38,872,330    0    61,436,499 
Egypt   1,181,666            1,181,666 
India   1,792,482    11,266,285        13,058,767 
Indonesia   674,683    3,181,162        3,855,845 
Kenya   2,585,070            2,585,070 
Luxembourg   1,030,839            1,030,839 
Malaysia   1,795,619            1,795,619 
Mexico   6,075,579            6,075,579 
Peru   2,000,995            2,000,995 
Philippines   947,844    5,796,646        6,744,490 
Poland   804,113            804,113 
Russia   5,428,979            5,428,979 
South Africa   1,952,362    6,185,341        8,137,703 
South Korea       1,373,973        1,373,973 
Spain       3,654,713        3,654,713 
Switzerland   635,740    1,799,699        2,435,439 
Taiwan       11,308,672        11,308,672 
Thailand       6,569,573        6,569,573 
Turkey   711,451    4,480,373        5,191,824 
United Arab Emirates       1,054,359        1,054,359 
United Kingdom       2,716,027    0    2,716,027 
United States       2,346,014        2,346,014 
Preferred Stocks                    
Brazil   1,160,143            1,160,143 
Colombia   1,812,154            1,812,154 
South Korea       11,889,508        11,889,508 
Real Estate Investment Trusts*   2,082,059            2,082,059 
Money Market Fund   5,573,230            5,573,230 
Total  $70,855,903   $112,494,675   $0   $183,350,578 

 

* See Schedule of Investments for geographic sector breakouts.

 

During the period ended September 30, 2017, transfers of securities from Level 1 to Level 2 were $3,484,124 and transfers from Level 2 to Level 1 were $4,895,489. These transfers resulted primarily from changes in certain foreign securities valuation methodologies between the last close of the securities’ primary market (Level 1) and valuation by the pricing service (Level 2), which takes into account market direction or events occurring before the Fund’s pricing time but after the last local close, as described in the Notes to Schedules of Investments.

 

The following table reconciles the valuation of the Fund’s Level 3 investment securities and related transactions during the period ended September 30, 2017:

 

   Common Stocks 
   China / Hong Kong   United Kingdom 
Balance as of December 31, 2016  $240,669   $0 
Realized gain (loss)        
Net change in unrealized appreciation (depreciation)   (240,669)   0 
Purchases        
Sales        
Transfers in and/or out of level 3        
Balance as of September 30, 2017  $0   $0 

 

See Notes to Schedules of Investments

 

VANECK VIP GLOBAL GOLD FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS

September 30, 2017 (unaudited)

 

Number
of Shares
      Value 
COMMON STOCKS: 99.3%     
Australia: 14.0%     
 574,118   Cardinal Resources Ltd. * #  $319,725 
 500,592   Evolution Mining Ltd. #   866,501 
 979,465   Gold Road Resources Ltd. * #   544,871 
 27,700   Newcrest Mining Ltd. #   455,935 
 99,600   Northern Star Resources Ltd. #   385,324 
 66,539   OceanaGold Corp. (CAD)   201,043 
 214,100   Saracen Mineral Holdings Ltd. * #   220,468 
         2,993,867 
Canada: 69.5%     
 22,437   Agnico-Eagle Mines Ltd. (USD)   1,014,377 
 1,100   Alamos Gold, Inc.   7,432 
 109,440   Alamos Gold, Inc. (USD)   739,814 
 179,900   Argonaut Gold, Inc. *   353,240 
 133,900   Atacama Pacific Gold Corp. *   75,119 
 202,775   AuRico Metals, Inc. *   204,766 
 25,880   AuRico Metals, Inc. (USD) *   25,903 
 38,100   Auryn Resources, Inc. *   85,498 
 13,917   B2Gold Corp. *   38,369 
 479,571   B2Gold Corp. (USD) *   1,342,799 
 24,500   Barrick Gold Corp. (USD)   394,205 
 114,700   Bear Creek Mining Corp. *   188,447 
 218,000   Belo Sun Mining Corp. *   97,840 
 450,088   Bonterra Resources, Inc. *   146,091 
 84,863   Brio Gold, Inc. *   137,386 
 176,000   Columbus Gold Corp. *   91,685 
 272,843   Continental Gold, Inc. *   660,377 
 69,150   Corvus Gold, Inc. *   45,998 
 21,000   Corvus Gold, Inc. (USD) *   13,440 
 11,652   Detour Gold Corp. *   128,496 
 189,600   Eastmain Resources, Inc. *   47,865 
 143,079   Eldorado Gold Corp.   314,195 
 107,019   First Mining Finance Corp. *   57,894 
 20,400   Fortuna Silver Mines, Inc. (USD) *   89,352 
 61,906   Gold Standard Ventures Corp. (USD) *   100,288 
 21,700   Goldcorp, Inc. (USD)   281,232 
 101,400   Guyana Goldfields, Inc. *   339,693 
 113,000   IAMGOLD Corp. (USD) *   689,300 
 97,400   Kinross Gold Corp. (USD) *   412,976 
 60,752   Kirkland Lake Gold Ltd.   782,923 
 128,800   Klondex Mines Ltd. *   469,677 
 104,000   Leagold Mining Corp. *   262,553 
 255,042   Liberty Gold Corp. *   98,113 
 24,800   Lundin Gold, Inc. *   101,168 
 19,200   MAG Silver Corp. (USD) *   215,616 
 90,000   Midas Gold Corp. *   46,884 
 2,500   New Gold, Inc. *   9,277 
 165,100   New Gold, Inc. (USD) *   612,521 
 123,864   Newcastle Gold Ltd. *   80,409 
 38,900   NovaGold Resources, Inc. (USD) *   160,268 
 296,688   Orezone Gold Corp. *   152,178 
 46,700   Osisko Mining, Inc. * 144A   164,306 
 17,000   Osisko Mining, Inc. *   59,812 
 130,100   Otis Gold Corp. *   33,366 
 12,000   Pan American Silver Corp. (USD)   204,600 
 86,800   Premier Gold Mines Ltd. *   248,348 
 5,100   Pretium Resources, Inc. *   47,209 
 24,000   Pretium Resources, Inc. (USD) *   222,240 
 222,800   Roxgold, Inc. *   221,416 
 19,200   Roxgold, Inc. * 144A   19,081 
 579,000   Rye Patch Gold Corp. *   85,847 
 318,000   Sabina Gold and Silver Corp. *   563,238 
 93,700   Semafo, Inc. *   247,814 
 4,500   Sulliden Mining Capital, Inc. *   911 
 42,200   TMAC Resources, Inc. *   342,944 
 40,870   Torex Gold Resources, Inc. *   640,359 
 337,900   West African Resources Ltd. * # § ø   79,753 
 15,400   Wheaton Precious Metals Corp. (USD)   293,986 
 5,323   Yamana Gold, Inc.   14,078 
 113,225   Yamana Gold, Inc. (USD)   300,046 
         14,905,018 
Mexico: 4.2%     
 47,500   Fresnillo Plc (GBP) #   895,006 
United Kingdom: 3.4%     
 7,400   Randgold Resources Ltd. (ADR)   722,684 
United States: 8.2%     
 28,200   Newmont Mining Corp.   1,057,782 
 8,100   Royal Gold, Inc.   696,924 
         1,754,706 
Total Common Stocks
(Cost: $16,414,773)
   21,271,281 
WARRANTS: 0.0%
(Cost: $0)
     
Canada: 0.0%     
 62,450   Liberty Gold Corp. Warrants (CAD 0.90, expiring 05/16/19) *   4,379 
MONEY MARKET FUND: 0.5%
(Cost: $102,639)
     
 102,639   AIM Treasury Portfolio - Institutional Class   102,639 
Total Investments: 99.8%
(Cost: $16,517,412)
   21,378,299 
Other assets less liabilities: 0.2%   50,638 
NET ASSETS: 100.0%  $21,428,937 
   
ADR American Depositary Receipt
CAD Canadian Dollar
GBP British Pound
USD United States Dollar
   
* Non-income producing
# Indicates a fair valued security which has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $3,767,583 which represents 17.6% of net assets.
§ Illiquid Security — the aggregate value of illiquid securities is $79,753 which represents 0.4% of net assets.
ø Restricted Security - the aggregate value of restricted securities is $79,753, or 0.4% of net assets.
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 $183,387, or 0.9% of net assets.

 

Restricted securities held by the Fund as of September 30, 2017 are as follows:

 

Security          Acquisition
Date
  Number of
Shares
  Acquisition Cost   Value   % of
Net Assets
 
West African Resources Ltd.  06/23/2017  337,900  $81,501   $79,753    0.4% 
                      
Summary of Investments by Sector  % of
Investments
  Value 
Diversified Metals & Mining   4.9%  $1,038,907 
Gold   84.3    18,024,429 
Precious Metals & Minerals   6.6    1,408,770 
Silver   3.7    803,554 
Money Market Fund   0.5    102,639 
    100.0%  $21,378,299 

 

The summary of inputs used to value the Fund’s investments as of September 30, 2017 is as follows:

 

   Level 1
Quoted
Prices
   Level 2
Significant
Observable
Inputs
   Level 3
Significant
Unobservable
Inputs
   Value 
Common Stocks                    
Australia  $201,043   $2,792,824   $   $2,993,867 
Canada   14,825,265    79,753        14,905,018 
Mexico       895,006        895,006 
United Kingdom   722,684            722,684 
United States   1,754,706            1,754,706 
Warrants                    
Canada   4,379            4,379 
Money Market Fund   102,639            102,639 
Total  $17,610,716   $3,767,583   $   $21,378,299 

 

There were no transfers between levels during the period ended September 30, 2017.

 

See Notes to Schedules of Investments

 

VANECK VIP GLOBAL HARD ASSETS FUND

SCHEDULE OF INVESTMENTS

September 30, 2017 (unaudited)

 

Number
of Shares
      Value 
COMMON STOCKS: 96.2%     
Bermuda: 0.7%     
 107,900   Golar LNG Ltd. (USD)  $2,439,619 
Canada: 18.6%     
 217,722   Agnico-Eagle Mines Ltd. (USD)   9,843,212 
 86,400   Agrium, Inc. (USD)   9,262,944 
 340,700   Barrick Gold Corp. (USD)   5,481,863 
 1,224,400   First Quantum Minerals Ltd.   13,747,821 
 143,800   Goldcorp, Inc. (USD)   1,863,648 
 407,400   IAMGOLD Corp. (USD) *   2,485,140 
 865,400   Kinross Gold Corp. (USD) *   3,669,296 
 506,700   New Gold, Inc. (USD) *   1,879,857 
 598,500   Teck Resources Ltd. (USD)   12,622,365 
         60,856,146 
France: 1.0%     
 577,700   Vallourec SA * #   3,432,733 
Kuwait: 2.4%     
 3,890,609   Kuwait Energy Plc (GBP) * # § ø ∞   7,808,130 
Luxembourg: 0.9%     
 107,900   Tenaris SA (ADR)   3,054,649 
Monaco: 0.6%     
 559,800   Scorpio Tankers, Inc. (USD)   1,920,114 
South Africa: 0.6%     
 1,719,745   Petra Diamonds Ltd. (GBP) * #   1,935,843 
Switzerland: 6.4%     
 3,215,065   Glencore Xstrata Plc (GBP) * #   14,757,167 
 1,331,900   Weatherford International Plc (USD) *   6,100,102 
         20,857,269 
United Kingdom: 3.1%     
 167,500   Kaz Minerals Plc * #   1,738,663 
 53,400   Randgold Resources Ltd. (ADR)   5,215,044 
 66,300   Rio Tinto Plc (ADR)   3,128,697 
         10,082,404 
United States: 61.9%     
 237,400   Callon Petroleum Co. *   2,668,376 
 221,300   CF Industries Holdings, Inc.   7,780,908 
 91,800   Cimarex Energy Co.   10,434,906 
 91,850   Concho Resources, Inc. *   12,098,482 
 426,000   Consol Energy, Inc. *   7,216,440 
 123,700   Diamondback Energy, Inc. *   12,117,652 
 123,700   EOG Resources, Inc.   11,966,738 
 86,400   Forum Energy Technologies, Inc. *   1,373,760 
 296,200   Freeport-McMoRan Copper and Gold, Inc. *   4,158,648 
 262,200   Green Plains Renewable Energy, Inc.   5,283,330 
 199,800   Halliburton Co.   9,196,794 
 279,700   Laredo Petroleum, Inc. *   3,616,521 
 202,000   Louisiana-Pacific Corp. *   5,470,160 
 932,800   Nabors Industries Ltd.   7,527,696 
 269,650   Newfield Exploration Co. *   8,000,515 
 338,600   Newmont Mining Corp.   12,700,886 
 431,400   Parsley Energy, Inc. *   11,363,076 
 523,200   Patterson-UTI Energy, Inc.   10,955,808 
 146,000   PDC Energy, Inc. *   7,158,380 
 80,700   Pioneer Natural Resources Co.   11,906,478 
 248,200   ProPetro Holding Corp. *   3,561,670 
 117,600   RSP Permian, Inc. *   4,067,784 
 130,900   Schlumberger Ltd.   9,131,584 
 199,400   Steel Dynamics, Inc.   6,873,318 
 204,800   Sunrun, Inc. *   1,136,640 
 399,200   Superior Energy Services, Inc. *   4,263,456 
 92,500   Tyson Foods, Inc.   6,516,625 
 37,300   Union Pacific Corp.   4,325,681 
         202,872,312 
Total Common Stocks
(Cost: $285,196,502)
   315,259,219 
REAL ESTATE INVESTMENT TRUST: 0.3%
(Cost: $846,487)
     
United States: 0.3%     
 43,000   Hannon Armstrong Sustainable Infrastructure Capital, Inc.   1,047,910 
MONEY MARKET FUND: 3.5%
(Cost: $11,601,639)
     
 11,601,639   AIM Treasury Portfolio - Institutional Class   11,601,639 
Total Investments: 100.0%
(Cost: $297,644,628)
   327,908,768 
Liabilities in excess of other assets: (0.0)%   (56,088)
NET ASSETS: 100.0%  $327,852,680 
   
ADR American Depositary Receipt
GBP British Pound
USD United States Dollar
   
* Non-income producing
# Indicates a fair valued security which has been valued in good faith pursuant to guidelines established by the Board of Trustees. The aggregate value of fair valued securities is $29,672,536 which represents 9.1% of net assets.
§ Illiquid Security — the aggregate value of illiquid securities is $7,808,130 which represents 2.4% of net assets.
ø Restricted Security - the aggregate value of restricted securities is $7,808,130, or 2.4% of net assets.
Investment value was determined using significant unobservable inputs.

 

Restricted securities held by the Fund as of September 30, 2017 are as follows:

 

Security          Acquisition
Date
  Number of
Shares
  Acquisition Cost   Value   % of
Net Assets
 
Kuwait Energy Plc  08/06/2008  3,890,609  $11,764,893   $7,808,130    2.4% 
                      
Summary of Investments by Sector  % of
Investments
  Value 
Consumer Staples   2.0%  $6,516,625 
Energy   54.5    178,664,793 
Financials   0.3    1,047,910 
Industrials   1.7    5,462,321 
Materials   38.0    124,615,480 
Money Market Fund   3.5    11,601,639 
    100.0%  $327,908,768 

 

The summary of inputs used to value the Fund’s investments as of September 30, 2017 is as follows:

 

   Level 1
Quoted
Prices
   Level 2
Significant
Observable
Inputs
   Level 3
Significant
Unobservable
Inputs
   Value 
Common Stocks                    
Bermuda  $2,439,619   $   $   $2,439,619 
Canada   60,856,146            60,856,146 
France       3,432,733        3,432,733 
Kuwait           7,808,130    7,808,130 
Luxembourg   3,054,649            3,054,649 
Monaco   1,920,114            1,920,114 
South Africa       1,935,843        1,935,843 
Switzerland   6,100,102    14,757,167        20,857,269 
United Kingdom   8,343,741    1,738,663        10,082,404 
United States   202,872,312            202,872,312 
Real Estate Investment Trust*   1,047,910            1,047,910 
Money Market Fund   11,601,639            11,601,639 
Total  $298,236,232   $21,864,406   $7,808,130   $327,908,768 

 

* See Schedule of Investments for geographic sector breakouts.

 

There were no transfers between levels during the period ended September 30, 2017.

 

The following table reconciles the valuation of the Fund’s Level 3 investment securities and related transactions during the period ended September 30, 2017:

 

    Common Stocks 
    Kuwait 
Balance as of December 31, 2016  $6,069,240 
Realized gain (loss)    
Net change in unrealized appreciation (depreciation)   1,738,890 
Purchases    
Sales    
Transfers in and/or out of level 3    
Balance as of September 30, 2017  $7,808,130 

 

The following table presents additional information about valuation methodologies and inputs used for investments that are measured at fair value and categorized within Level 3 as of September 30, 2017:

 

   Value as of
September 30,
2017
  Valuation Technique  Unobservable Input
Description (1)
  Unobservable
Input
  Impact to
Valuation
from an
Increase in
Input (2)
Common Stocks               
Kuwait  $7,808,130  Guideline Public Companies  Entitlement Multiple  5.50x-10.25x  Increase
         Working Interest Multiple  0.40x-3.00x  Increase
         Marketability Discount  10%  Decrease
                
(1) In determining certain of these inputs, management evaluates a variety of factors including economic condition, industry and market developments, market valuations of comparable companies and company specific developments.
(2) This column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases or decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.

 

See Notes to Schedules of Investments

 

VANECK VIP LONG/SHORT EQUITY INDEX FUND

SCHEDULE OF INVESTMENTS

September 30, 2017 (unaudited)

 

Number
of Shares
          Value  
EXCHANGE TRADED FUNDS (a): 66.4%        
   15,314     Financial Select Sector SPDR Fund   $ 396,020  
   1,949     iShares J.P. Morgan USD Emerging Markets Bond ETF     226,903  
   2,612     Powershares QQQ Trust, Series 1 (b)     379,916  
Total Exchange Traded Funds
(Cost: $979,451)
    1,002,839  
                 
Principal
Amount
             
SHORT-TERM INVESTMENTS: 32.3%        
Government Obligation: 29.7%
(Cost: $449,244)
       
        United States Treasury Bill        
$  450,000     1.01%,11/30/17 (b)     449,274  
                 
Number
of Shares
             
Money Market Fund: 2.6%
(Cost: $39,729)
       
   39,729     AIM Treasury Portfolio - Institutional Class     39,729  
Total Short-Term Investments: 32.3%
(Cost: $488,973)
    489,003  
Total Investments: 98.7%
(Cost: $1,468,424)
    1,491,842  
Other assets less liabilities (c): 1.3%     19,050  
NET ASSETS: 100.0%   $ 1,510,892  
SECURITIES SOLD SHORT: (12.9)%        
Exchange Traded Fund: (12.9)%
(Proceeds: $(192,363))
       
   (2,764)     Vanguard Total World Stock ETF     (195,470 )
Total Securities Sold Short
(Proceeds: $(192,363))
  $ (195,470 )

 

(a) Each underlying fund’s shareholder reports and registration documents are available free of charge on the SEC’s website, at https://www.sec.gov/.
(b) All or a portion of these securities are segregated for securities sold short transactions. Total value of the securities segregated is $546,726.
(c) Includes $220,696 segregated cash on deposit with the broker for securities sold short transactions.

 

Summary of Investments
by Sector
  % of
Investments
  Value  
Exchange Traded Funds     67.2 %   $ 1,002,839  
Government     30.1       449,274  
Money Market Fund     2.7       39,729  
      100.0 %   $ 1,491,842  

 

The summary of inputs used to value the Fund’s investments as of September 30, 2017 is as follows:

 

Long positions  Level 1
Quoted
Prices
   Level 2
Significant
Observable
Inputs
   Level 3
Significant
Unobservable
Inputs
   Value  
Exchange Traded Funds  $1,002,839   $   $   $1,002,839 
Short-Term Investments                    
Government Obligation       449,274        449,274 
Money Market Fund   39,729            39,729 
Total  $1,042,568   $449,274   $   $1,491,842 
                     
Short positions                    
Exchange Traded Fund  $(195,470)  $   $   $(195,470)

 

There were no transfers between levels during the period ended September 30, 2017.

 

See Notes to Schedules of Investments

 

VANECK VIP UNCONSTRAINED EMERGING MARKETS BOND FUND

SCHEDULE OF INVESTMENTS

September 30, 2017 (unaudited)

 

Principal
Amount
      Value  
CORPORATE BONDS: 31.1%     
Argentina: 1.5%     
USD189,000   Cia General de Combustibles SA     
     9.50%, 11/07/19 (c) 144A  $201,285 
 214,000   Generacion Mediterranea SA     
     9.63%, 07/27/20 (c) Reg S   239,723 
         441,008 
Cayman Islands: 1.0%     
     Odebrecht Finance Ltd.     
 453,000   4.38%, 04/25/25 Reg S   173,272 
 302,000   5.25%, 06/27/29 Reg S   114,760 
         288,032 
Chile: 1.0%     
 298,000   Geopark Ltd.     
     6.50%, 09/21/21 (c) 144A   300,235 
Colombia: 2.6%     
 349,000   Colombia Telecomunicaciones SA ESP     
     8.50% (USD Swap Semi 30/360 5 Year+6.96%), 03/30/20 (c) Reg S   374,215 
 377,000   Credivalores-Crediservicios SAS     
     9.75%, 07/27/20 (c) 144A   391,891 
         766,106 
Georgia: 1.2%     
GEL885,000   Bank of Georgia JSC     
     11.00%, 06/01/20 144A   361,394 
Indonesia: 1.2%     
USD 322,000   Bukit Makmur Mandiri Utama PT     
     7.75%, 02/13/20 (c) Reg S   344,866 
Ireland: 1.0%     
 284,000   Oilflow SPV 1 DAC     
     12.00%, 01/13/22 144A   300,110 
Israel: 2.0%     
 547,000   Israel Electric Corp. Ltd.     
     7.25%, 01/15/19 Reg S   580,230 
Luxembourg: 2.3%     
 273,000   Gazprom OAO Via Gaz Capital SA     
     9.25%, 04/23/19 (p) Reg S   298,682 
 378,000   Topaz Marine SA     
     9.13%, 07/26/19 (c) 144A   380,173 
         678,855 
Mexico: 2.0%     
 153,000   Banco Mercantil del Norte SA     
     7.63% (US Treasury Yield Curve Rate T 10 Year+5.35%), 01/10/28 (c) 144A   167,305 
 120,000   Corp. GEO SAB de CV     
     9.25%, 12/08/17 (c) (d) * Reg S   30 
 409,000   Grupo Idesa SA de CV     
     7.88%, 12/18/17 (c) Reg S   409,000 
         576,335 
Mongolia: 3.3%     
 876,000   Trade & Development Bank of Mongolia LLC     
     9.38%, 05/19/20 Reg S   950,412 
Netherlands: 4.0%     
 365,000   IHS Netherlands Holdco BV     
     9.50%, 10/27/18 (c) Reg S   383,375 
 392,000   Indo Energy Finance II BV     
     6.38%, 01/24/18 (c) Reg S   399,334 
 383,341   Metinvest BV     
     9.37%, 12/31/21 Reg S   389,199 
         1,171,908 
Norway: 0.7%     
 200,000   DNO ASA     
     8.75%, 10/30/17 (c) Reg S 144A   201,000 
Singapore: 3.6%     
 685,000   Bumi Investment Pte Ltd.     
     10.75%, 10/06/17 (d) * Reg S   380,175 
 367,000   Geo Coal International Pte Ltd.     
     8.00%, 10/04/20 (c) 144A   364,247 
 305,000   Medco Straits Services Pte Ltd.     
     8.50%, 08/17/20 (c) 144A   320,582 
         1,065,004 
Ukraine: 0.9%     
 231,000   Kernel Holding SA     
     8.75%, 01/31/22 Reg S   254,082 
United Kingdom: 1.0%     
 135,000   MARB BondCo PLC     
     7.00%, 03/15/20 (c) Reg S   133,312 
 151,000   Petra Diamonds US$ Treasury PLC     
     7.25%, 05/01/19 (c) Reg S   154,397 
         287,709 
United States: 1.8%     
 151,000   AES El Salvador Trust II     
     6.75%, 03/28/18 (c) Reg S   142,695 
 383,000   Stillwater Mining Co.     
     7.13%, 06/27/21 (c) 144A   395,208 
         537,903 
Total Corporate Bonds
(Cost: $8,854,972)
   9,105,189 
FOREIGN GOVERNMENT OBLIGATIONS: 63.3%     
Argentina: 12.5%     
ARS9,919,000   Argentina Bonar Bond     
     24.08% (Argentina Deposit Rates Badlar Private Banks ARS 30 to 35 Days+3.25%), 03/01/20 (f)   589,446 
 9,210,000   Argentina POM Politica Monetaria     
     26.25% (Argentina Central Bank 7D Repo Reference Rate+0.00%), 06/21/20 (f)   563,853 
     Argentine Republic Government International Bonds     
EUR221,553   7.82%, 12/31/33   292,726 
 10,170,000   0.00%, 12/15/35 (b)   1,283,127 
ARS16,181,000   Provincia de Buenos Aires     
     25.39% (Argentina Deposit Rates Badlar Private Banks ARS 30 to 35 Days+3.83%), 05/31/22 (f)   946,516 
         3,675,668 
Belarus: 3.0%     
     Republic of Belarus International Bonds     
USD542,000   6.88%, 02/28/23 Reg S   584,127 
 252,000   7.63%, 06/29/27 144A   281,846 
         865,973 
Brazil: 8.9%     
     Notas do Tesouro Nacional, Series F     
BRL1,767,000   10.00%, 01/01/21   579,005 
 2,957,000   10.00%, 01/01/23   963,882 
 3,296,000   10.00%, 01/01/25   1,070,127 
         2,613,014 
Chile: 0.9%     
CLP175,000,000   Bonos de la Tesoreria de la Republica de Chile     
     4.50%, 03/01/26   276,218 
Colombia: 2.7%     
COP2,267,000,000   Colombian TES     
     7.00%, 05/04/22   803,428 
Ecuador: 4.3%     
     Ecuador Government International Bonds     
USD257,000   10.50%, 03/24/20 Reg S   278,524 
 338,000   10.75%, 03/28/22 Reg S   378,560 
 616,000   Petroamazonas EP     
     4.63%, 02/16/20 144A   592,900 
         1,249,984 
Egypt: 2.0%     
     Egypt Treasury Bills     
EGP5,275,000   0.00%, 10/31/17 ^   294,020 
 5,325,000   0.00%, 11/07/17 ^   296,138 
         590,158 
El Salvador: 4.7%     
     El Salvador Government International Bonds     
USD110,000   7.65%, 06/15/35 Reg S   113,562 
 1,130,000   8.63%, 02/28/29 Reg S   1,271,250 
         1,384,812 
Nigeria: 1.0%     
 273,000   Nigeria Government International Bond     
     6.75%, 01/28/21 Reg S   290,727 
Russia: 8.2%     
     Russian Federal Bonds     
RUB56,427,000   7.70%, 03/23/33 (a)   979,385 
 29,960,000   8.50%, 09/17/31 (a)   562,140 
 47,862,000   10.32% (Central Bank of Russia RUONIA 6 Month Average+0.40%), 11/16/22 (a) (f)   863,611 
          2,405,136  
Suriname: 1.7%        
USD452,000   Republic of Suriname International Bond        
     9.25%, 10/26/26 144A    490,420  
              
Ukraine: 3.5%        
 1,045,000   Ukraine Government International Bond        
     7.38%, 09/25/32 144A    1,019,868  
United Kingdom: 1.3%        
 360,000   Ukraine Railways via Shortline PLC        
     9.88%, 09/15/21 Reg S    381,546  
Uruguay: 1.8%        
UYU  14,640,000    Uruguay Government International Bond   
     8.50%, 03/15/28 144A   522,956 
Venezuela: 6.8%     
     Venezuela Government International Bonds     
USD1,480,000   7.00%, 12/01/18 Reg S   962,000 
 2,286,000   7.75%, 10/13/19 Reg S   1,034,415 
         1,996,415 
Total Foreign Government Obligations
(Cost: $18,042,273)
   18,566,323 
           
Number
of Shares
         
COMMON STOCK: 0.0%
(Cost: $0)
     
Mexico: 0.0%     
 3,236   Corp. GEO SAB de CV *   304 
MONEY MARKET FUND: 5.5%
(Cost: $1,621,329)
     
 1,621,329   AIM Treasury Portfolio - Institutional Class   1,621,329 
Total Investments: 99.9%
(Cost: $28,518,574)
   29,293,145 
Other assets less liabilities: 0.1%   16,137 
NET ASSETS: 100.0%  $29,309,282 

 

ARS Argentine Peso
BRL Brazilian Real
CLP Chilean Peso
COP Colombian Peso
EGP Egyptian Pound
EUR Euro
GEL Georgian Lari
RUB Russian Ruble
USD United States Dollar
UYU Uruguayan Peso
   
(a) All or a portion of these securities are segregated for foreign forward currency contracts.
(b) Coupon will vary based upon predetermined growth targets for the Gross Domestic Product of Argentina. The rate shown reflects the rate in effect at the end of the reporting period.
(c) Callable Security - the redemption date shown is when the security may be redeemed by the issuer
(d) Security in default
(f) Floating Rate Bond - coupon reflects the rate in effect at the end of the reporting period
(p) Puttable Security - the redemption date shown is when the security may be redeemed by the investor
^ Zero Coupon Bond
* Non-income producing
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 $6,291,420, or 21.5% of net assets.

 

Open forward foreign currency contracts

As of September 30, 2017, the Fund held the following open forward foreign currency contracts:

 

Counterparty            Currency to be Sold   Currency to be
Purchased
  Settlement Dates   Unrealized Appreciation
(Depreciation)
 
State Street Bank & Trust Company   TRY   2,674,945   USD 745,495   10/26/2017   $ (3,752 )
State Street Bank & Trust Company   TRY   2,654,716   USD 739,857   10/26/2017     3,137  
State Street Bank & Trust Company   TRY   2,620,402   USD 730,294   10/26/2017     6,975  
Net unrealized appreciation on forward foreign currency contracts           $ 6,360  

 

TRY Turkish Lira
USD United States Dollar

 

Summary of Investments
by Sector
  % of
Investments
  Value  
Basic Materials     5.8 %   $ 1,692,670  
Communications     2.6       757,590  
Consumer, Non-cyclical     1.3       387,394  
Energy     7.1       2,066,206  
Financial     7.4       2,171,112  
Government     63.4       18,566,323  
Industrial     3.6       1,067,873  
Utilities     3.3       962,648  
Money Market Fund     5.5       1,621,329  
      100.0 %   $ 29,293,145  

 

The summary of inputs used to value the Fund’s investments as of September 30, 2017 is as follows:

 

   Level 1
Quoted
Prices
   Level 2
Significant
Observable
Inputs
   Level 3
Significant
Unobservable
Inputs
   Value  
Common Stock*  $304   $   $   $304 
Corporate Bonds*       9,105,189        9,105,189 
Foreign Government Obligations*       18,566,323        18,566,323 
Money Market Fund   1,621,329            1,621,329 
Total  $1,621,633   $27,671,512   $   $29,293,145 
Other Financial Instruments:                    
Forward Foreign Currency Contracts  $   $6,360   $   $6,360 

 

* See Schedule of Investments for geographic sector breakouts.

 

There were no transfers between levels during the period ended September 30, 2017.

 

See Notes to Schedules of Investments

 

VANECK VIP TRUST

NOTES TO SCHEDULES OF INVESTMENTS

September 30, 2017 (unaudited)

 

Security Valuation—The Funds value their investments in securities and other assets and liabilities at fair value daily. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. Securities traded on national exchanges or traded on the NASDAQ National Market System are valued at the last sales price as reported at the close of each business day. Securities traded on the NASDAQ Stock Market are valued at the NASDAQ official closing price. Over-the-counter securities not included in the NASDAQ National Market System and listed securities for which no sale was reported are valued at the mean of the bid and ask prices. To the extent these securities are actively traded they are categorized as Level 1 in the fair value hierarchy (as described below). Certain foreign securities, whose values may be affected by market direction or events occurring before the Funds’ pricing time (4:00 p.m. Eastern Standard Time) but after the last close of the securities’ primary market, are fair valued using a pricing service and are categorized as Level 2 in the fair value hierarchy. The pricing service, using methods approved by the Board of Trustees, considers the correlation of the trading patterns of the foreign security to intraday trading in the U.S. markets, based on indices of domestic securities and other appropriate indicators such as prices of relevant ADR’s and futures contracts. The Funds may also fair value securities in other situations, such as, when a particular foreign market is closed but the Fund is open. Debt securities are valued on the basis of evaluated prices furnished by an independent pricing service approved by the Board of Trustees or provided by securities dealers. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in the characteristics such as rating, interest rate and maturity date and/or (ii) quotations from bond dealers to determine current value and are categorized as Level 2 in the fair value hierarchy. Short-term obligations with sixty days or less to maturity are valued at amortized cost, which with accrued interest approximates fair value. Exchange traded funds as well as closed-end publicly listed fund investments are valued at their official market closing price and are categorized as Level 1 in the fair value hierarchy. Money market fund investments are valued at net asset value and are categorized as Level 1 in the fair value hierarchy. Forward foreign currency contracts are valued at the spot currency rate plus an amount (“points”), which reflects the differences in interest rates between the U.S. and foreign markets and are categorized as Level 2 in the fair value hierarchy. The Pricing Committee of Van Eck Associates Corporation (the “Adviser”) provides oversight of the Funds’ valuation policies and procedures, which are approved by the Funds’ Board of Trustees. Among other things, these procedures allow the Funds to utilize independent pricing services, quotations from securities dealers, and other market sources to determine fair value.  The Pricing Committee convenes regularly to review the fair value of financial instruments or other assets. If market quotations for a security or other asset are not readily available, or if the Adviser believes it does not otherwise reflect the fair value of a security or asset, the security or asset will be fair valued by the Pricing Committee in accordance with the Funds’ valuation policies and procedures. The Pricing Committee employs various methods for calibrating the valuation approaches utilized to determine fair value, including a regular review of key inputs and assumptions, periodic comparisons to valuations provided by other independent pricing services, transactional back-testing and disposition analysis.

 

Certain factors such as economic conditions, political events, market trends, the nature of and duration of any restrictions on disposition, trading in similar securities of the issuer or comparable issuers and other security specific information are used to determine the fair value for these securities. Depending on the relative significance of valuation inputs, these securities may be classified either as Level 2 or Level 3 in the fair value hierarchy. The price which the Funds may realize upon sale of an investment may differ materially from the value presented in the Schedules of Investments.

 

The Funds utilize various methods to measure the fair value of their investments on a recurring basis which includes a hierarchy that prioritizes inputs to valuation methods used to measure fair value. The fair value hierarchy gives highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The transfers between levels of the fair value hierarchy assume the financial instruments were transferred at the beginning of the reporting period. The three levels of the fair value hierarchy are described below:

 

Level 1 – Quoted prices in active markets for identical securities.

 

Level 2 – Significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

 

Level 3 – Significant unobservable inputs (including each Fund’s own assumptions in determining the fair value of investments).

 

A summary of the inputs, the levels used to value each Fund’s investments, and transfers between levels are located in the Schedules of Investments. Additionally, tables that reconcile the valuation of each Fund’s Level 3 investments, and that present additional information about the valuation methodologies and unobservable inputs, if applicable, are located in the Schedules of Investments.

 

Basis for Consolidation —The VIP Gold Fund Subsidiary (the “Subsidiary”), a Cayman Islands exempted company, was incorporated on January 25, 2013. The Subsidiary is currently a wholly-owned subsidiary of the VanEck VIP Global Gold Fund (the “Fund”) and acts as an investment vehicle in order to effect certain investments on behalf of the Fund.

 

Other— In March 2017, the United Kingdom triggered Article 50, and is now scheduled to leave the European Union (“EU”) by the end of March 2019. Significant uncertainty exists on how the withdrawal will take place, the terms of the withdrawal and the effects such withdrawal will have on the EU and the United Kingdom. This may further impact the value of the Euro and the British pound sterling, and has caused volatility and uncertainty in European and global markets.

 

As a result of events involving Ukraine and the Russian Federation, the United States and the EU have imposed sanctions on certain Russian individuals and companies. These sanctions do not currently impact the Funds. Additional economic sanctions may be imposed or other actions may be taken that may adversely affect the value and liquidity of the Russian-related issuers’ held by the Funds.

 

ITEM 2. Controls and Procedures.

 

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c)) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)).
   
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

ITEM 3. Exhibits.

 

Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940 are attached as Exhibit 99.CERT.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant) VanEck VIP Trust

 

By John J. Crimmins, Treasurer & Chief Financial Officer, VanEck VIP Trust

 

Date: November 29, 2017

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By Jan F. van Eck, Chief Executive Officer, VanEck VIP Trust

 

Date: November 29, 2017

 

By John J. Crimmins, Treasurer & Chief Financial Officer, VanEck VIP Trust

 

Date: November 29, 2017