VanEck

U.S. beef packers face record-low cattle inventories and crushed margins. VanEck's Global Resources Team sees a contrarian opportunity as capacity rationalizes and the herd cycle turns. Key Takeaways: A years-long drought decimated breeding stock, leaving the domestic cattle supply at generational lows with no quick path to recovery. Unlike ranchers who benefit from premium beef prices, packers absorb the cost of scarce livestock without controlling what consumers pay at the counter.

The first half of 2026 has tested portfolios in ways few anticipated. Rate expectations have shifted, inflation has proven stickier than expected, and volatility across asset classes has forced investors to rethink how they are positioned. With markets at a mid-year inflection point, the question is no longer what happened but what comes next.

The Iran conflict may be nearing resolution, but the lessons it leaves behind are too important to ignore — systemic fragility is pointing to one of the great infrastructure opportunities of our time. Key Takeaways: The crisis will pass. The lesson won't: COVID and Iran are different events with the same message — systems built purely for efficiency will break under stress.

Personalize Your Experience As a global investment manager, we offer unique, specialized content based on region and investor type. For the best experience, please select from the below: Select Your Country / Region Select Investor Type AI-driven moat rating downgrades played a major role in the Moat Index's Q2 review, reshaping tech exposure while surfacing attractively priced opportunities across other sectors.

We explore BNB Chain's emergence as a working financial marketplace, where growing onchain activity, now roughly 34 million monthly active users, increasingly drives the value of the BNB token. Please note that VanEck may have a position(s) in the digital asset(s) described below. Key takeaways BNB Chain operates at consumer scale: roughly 34 million monthly active users (+72% y/y) moved about $127 billion in peer-to-peer stablecoin volume in May 2026, at a median fee of less than half a cent.

AI and semiconductor leadership rotated beyond mega-caps in late spring 2026 as memory names led, macro risks resurfaced, and crypto-linked stocks lagged. Key Takeaways AI leadership rotated rather than reversed: Memory and broader semiconductor names led the Period, with Micron Technology (MU) up 28.3% and Marvell Technology (MRVL) rallying, even as crowded bellwether NVIDIA (NVDA) fell 13.1%.

IMPORTANT DISCLOSURES This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action.

Bitcoin’s 30-day average fell to ~$70,321 (-10.3% m/m) as US spot ETPs shed ~$5.0B; holders capitulate, and miners lean on AI. Please note that VanEck has exposure to bitcoin. Key takeaways Bitcoin sells off as ETP outflows mount: bitcoin’s 30-day average price slipped to ~$70,321 (-10.3% m/m) while US spot ETPs shed a cumulative ~$5.0B, with 19 of the last 22 sessions in net outflow.

SpaceX is discussed here for illustrative purposes only. As of publication, SpaceX is not a holding of the VanEck Space ETF (WARP); as a private company it is not eligible for the fund’s index, though this could change if it becomes public and meets the index criteria. Investors should not expect WARP to provide SpaceX exposure. Forward-looking statements herein, including about a potential SpaceX IPO, are not guarantees of future results.

See how VanEck Real Assets ETF’s (RAAX) enhancement is designed to benefit investors while preserving the fund’s core philosophy and risk profile. RAAX is transitioning from an ETF-of-ETFs structure for its equity exposure to a portfolio of individual equity holdings. This enhancement is designed to improve implementation efficiency by reducing acquired fund fees and expenses associated with the ETF-of-ETFs structure.