| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Inchcape Plc | 385,000 | 385,000 | 61.91 | 0.63 | 0 | 0.00 | 0.00 |
| Auto Total | 385,000 | 385,000 | 61.91 | 0.63 | 0 | 0.00 | 0.00 |
| Capitec Bank Holdings Ltd. | 56,000 | 56,000 | 194.54 | 1.98 | 0 | 0.00 | 0.00 |
| FirstRand Ltd. | 3,750,000 | 3,750,000 | 291.23 | 2.97 | 0 | 0.00 | 0.00 |
| Guaranty Trust Bank Plc | 16,840,600 | 16,840,600 | 18.89 | 0.19 | 0 | 0.00 | 0.00 |
| TBC Bank Group PLC | 45,000 | 45,000 | 47.49 | 0.48 | 0 | 0.00 | 0.00 |
| Banks Total | 20,691,600 | 20,691,600 | 552.15 | 5.63 | 0 | 0.00 | 0.00 |
| Endeavour Mining PLC | 130,000 | 130,000 | 94.97 | 0.97 | 0 | 0.00 | 0.00 |
| Basic Resources Total | 130,000 | 130,000 | 94.97 | 0.97 | 0 | 0.00 | 0.00 |
| Consumer Goods | 0 | 0 | 0.00 | 0.00 | 0 | 78.66 | 0.93 |
| Beverages Total | 0 | 0 | 0.00 | 0.00 | 0 | 78.66 | 0.93 |
| SA Bond ASC158 | 60,000,000 | 60,000,000 | 60.92 | 0.62 | 0 | 0.00 | 0.00 |
| SA Bond BNDS | 0 | 0 | 96.17 | 0.98 | 0 | 0.00 | 0.00 |
| SA Bond CLN937 | 25,000,000 | 25,000,000 | 24.84 | 0.25 | 0 | 0.00 | 0.00 |
| SA Bond CLN938 | 24,000,000 | 24,000,000 | 24.10 | 0.25 | 0 | 0.00 | 0.00 |
| SA Bond FRC553 | 59,000,000 | 59,000,000 | 59.02 | 0.60 | 0 | 0.00 | 0.00 |
| SA Bond SSN211 | 19,937,000 | 19,937,000 | 49.48 | 0.50 | 0 | 0.00 | 0.00 |
| SA Bond TNFG32 | 66,500,000 | 66,500,000 | 67.47 | 0.69 | 0 | 0.00 | 0.00 |
| Bond Total | 254,437,000 | 254,437,000 | 382.00 | 3.89 | 0 | 0.00 | 0.00 |
| 0 | 0 | 0.00 | 0.00 | 0 | 173.73 | 2.04 |
| Cash on call | 0 | 0 | 104.27 | 1.06 | 0 | 0.00 | 0.00 |
| Financial institutions | 0 | 0 | 0.00 | 0.00 | 0 | 306.19 | 3.60 |
| Margin Account | 0 | 0 | 102.25 | 1.04 | 0 | 0.00 | 0.00 |
| Cash on call Total | 0 | 0 | 206.52 | 2.11 | 0 | 479.92 | 5.65 |
| PPC Ltd. | 5,310,648 | 5,310,648 | 28.68 | 0.29 | 0 | 0.00 | 0.00 |
| Raubex Group Ltd. | 1,538,304 | 1,538,304 | 65.53 | 0.67 | 0 | 0.00 | 0.00 |
| Construction and Materials Total | 6,848,952 | 6,848,952 | 94.21 | 0.96 | 0 | 0.00 | 0.00 |
| ADvTECH Ltd. | 2,043,162 | 2,043,162 | 64.32 | 0.66 | 0 | 0.00 | 0.00 |
| Curro Holdings Ltd. | 4,129,505 | 4,129,505 | 49.55 | 0.51 | 0 | 0.00 | 0.00 |
| Zeda Ltd. | 5,000,000 | 5,000,000 | 62.85 | 0.64 | 0 | 0.00 | 0.00 |
| Consumer Services Total | 11,172,667 | 11,172,667 | 176.72 | 1.80 | 0 | 0.00 | 0.00 |
| Accor SA | 65,000 | 65,000 | 53.10 | 0.54 | 0 | 0.00 | 0.00 |
| Alphabet Inc C | 64,000 | 64,000 | 266.24 | 2.71 | 0 | 0.00 | 0.00 |
| Booking Holdings | 500 | 500 | 46.46 | 0.47 | 0 | 0.00 | 0.00 |
| Fevertree Drinks PLC | 200,000 | 200,000 | 40.82 | 0.42 | 0 | 0.00 | 0.00 |
| JDcom | 200,000 | 200,000 | 61.43 | 0.63 | 0 | 0.00 | 0.00 |
| Moncler SPA | 57,500 | 57,500 | 58.13 | 0.59 | 0 | 0.00 | 0.00 |
| Prada SPA | 525,000 | 525,000 | 54.49 | 0.56 | 0 | 0.00 | 0.00 |
| Rentokil Initial plc | 550,000 | 550,000 | 48.00 | 0.49 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 1,662,000 | 1,662,000 | 628.67 | 6.41 | 0 | 0.00 | 0.00 |
| Equity Derivative | 0 | 0 | -1.18 | -0.01 | 0 | 0.00 | 0.00 |
| Derivatives Total | 0 | 0 | -1.18 | -0.01 | 0 | 0.00 | 0.00 |
| Greencoat Renewables plc | 3,000,000 | 3,000,000 | 43.97 | 0.45 | 0 | 0.00 | 0.00 |
| Electricity Total | 3,000,000 | 3,000,000 | 43.97 | 0.45 | 0 | 0.00 | 0.00 |
| Reunert Ltd. | 700,000 | 700,000 | 37.67 | 0.38 | 0 | 0.00 | 0.00 |
| Electronic and Electrical Equipment Total | 700,000 | 700,000 | 37.67 | 0.38 | 0 | 0.00 | 0.00 |
| Aker Kvaerner | 130,000 | 130,000 | 56.88 | 0.58 | 0 | 0.00 | 0.00 |
| Equities Total | 130,000 | 130,000 | 56.88 | 0.58 | 0 | 0.00 | 0.00 |
| Allfunds Group PLC | 630,000 | 630,000 | 81.04 | 0.83 | 0 | 0.00 | 0.00 |
| Citigroup | 1,900,000 | 1,900,000 | 20.05 | 0.20 | 0 | 0.00 | 0.00 |
| Interactive Brokers Group | 74,000 | 74,000 | 87.69 | 0.89 | 0 | 0.00 | 0.00 |
| JSC KASPI KZ ADR | 41,000 | 41,000 | 58.01 | 0.59 | 0 | 0.00 | 0.00 |
| Savills plc | 240,000 | 240,000 | 53.17 | 0.54 | 0 | 0.00 | 0.00 |
| ST James Place | 320,000 | 320,000 | 94.37 | 0.96 | 0 | 0.00 | 0.00 |
| Financial Services Total | 3,205,000 | 3,205,000 | 394.32 | 4.02 | 0 | 0.00 | 0.00 |
| Morgan Stanley | 750,000 | 750,000 | 12.72 | 0.13 | 0 | 0.00 | 0.00 |
| Financials Total | 750,000 | 750,000 | 12.72 | 0.13 | 0 | 0.00 | 0.00 |
| Arcos Dorados Holdings Inc | 430,000 | 430,000 | 49.60 | 0.51 | 0 | 0.00 | 0.00 |
| Yum China Holdings Inc | 119,000 | 119,000 | 89.99 | 0.92 | 0 | 0.00 | 0.00 |
| Food & Beverage Total | 549,000 | 549,000 | 139.58 | 1.42 | 0 | 0.00 | 0.00 |
| Consumer Services | 0 | 0 | 0.00 | 0.00 | 0 | 926.36 | 10.90 |
| Food & Drug Retailers Total | 0 | 0 | 0.00 | 0.00 | 0 | 926.36 | 10.90 |
| Oceana Group Ltd. | 490,000 | 490,000 | 24.26 | 0.25 | 0 | 0.00 | 0.00 |
| Food Producers Total | 490,000 | 490,000 | 24.26 | 0.25 | 0 | 0.00 | 0.00 |
| Australia - Currency | 0 | 0 | 0.51 | 0.01 | 0 | 0.00 | 0.00 |
| Canada - Currency | 0 | 0 | 0.61 | 0.01 | 0 | 0.00 | 0.00 |
| European - Currency | 0 | 0 | 8.53 | 0.09 | 0 | 0.00 | 0.00 |
| Foreign - Money Market | 0 | 0 | 0.00 | 0.00 | 0 | 158.65 | 1.87 |
| Foreign bonds | 0 | 0 | 0.00 | 0.00 | 0 | 397.95 | 4.68 |
| Foreign Cash | 0 | 0 | 0.00 | 0.00 | 0 | 182.12 | 2.14 |
| Hong Kong - Currency | 0 | 0 | 3.16 | 0.03 | 0 | 0.00 | 0.00 |
| Japan - Currency | 0 | 0 | 2.88 | 0.03 | 0 | 0.00 | 0.00 |
| Mexican Peso | 0 | 0 | 3.43 | 0.03 | 0 | 0.00 | 0.00 |
| Norway - Cash | 0 | 0 | 5.23 | 0.05 | 0 | 0.00 | 0.00 |
| Sweden - Currency | 0 | 0 | 1.14 | 0.01 | 0 | 0.00 | 0.00 |
| Switzerland - Currency | 0 | 0 | 2.85 | 0.03 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 3.13 | 0.03 | 0 | 0.00 | 0.00 |
| USA - Currency | 0 | 0 | 11.87 | 0.12 | 0 | 0.00 | 0.00 |
| For Currency Total | 0 | 0 | 43.34 | 0.44 | 0 | 738.72 | 8.69 |
| Foreign - Bonds | 0 | 0 | 599.73 | 6.11 | 0 | 0.00 | 0.00 |
| Foreign - Equities | 0 | 0 | 1,091.76 | 11.13 | 0 | 0.00 | 0.00 |
| Foreign Direct Funds (FCIS Equity) | 0 | 0 | 0.00 | 0.00 | 0 | 235.99 | 2.78 |
| Total Foreign Equities | 0 | 0 | 0.00 | 0.00 | 0 | 3,038.95 | 35.76 |
| Foreign Invest Total | 0 | 0 | 1,691.50 | 17.24 | 0 | 3,274.94 | 38.54 |
| British Land Company | 475,000 | 475,000 | 38.41 | 0.39 | 0 | 0.00 | 0.00 |
| Pakuwon Jati Tbk PT | 80,000,000 | 80,000,000 | 31.10 | 0.32 | 0 | 0.00 | 0.00 |
| Foreign Property Total | 80,475,000 | 80,475,000 | 69.51 | 0.71 | 0 | 0.00 | 0.00 |
| Basic Materials | 0 | 0 | 0.00 | 0.00 | 0 | 450.94 | 5.31 |
| Forestry & Paper Total | 0 | 0 | 0.00 | 0.00 | 0 | 450.94 | 5.31 |
| Domestic Funds (Equity) | 0 | 0 | 0.00 | 0.00 | 0 | 293.70 | 3.46 |
| Equity | 0 | 0 | 273.96 | 2.79 | 0 | 0.00 | 0.00 |
| Other assets | 0 | 0 | 0.00 | 0.00 | 0 | 19.14 | 0.23 |
| Other Equities | 0 | 0 | 0.00 | 0.00 | 0 | 753.74 | 8.87 |
| Unit Trust - Local - Equity | 0 | 0 | 25.95 | 0.26 | 0 | 0.00 | 0.00 |
| General Equity Total | 0 | 0 | 299.91 | 3.06 | 0 | 1,066.57 | 12.55 |
| Financials | 0 | 0 | 0.00 | 0.00 | 0 | 877.63 | 10.33 |
| General Financial Total | 0 | 0 | 0.00 | 0.00 | 0 | 877.63 | 10.33 |
| Industrials | 0 | 0 | 0.00 | 0.00 | 0 | 138.11 | 1.63 |
| General Industrials Total | 0 | 0 | 0.00 | 0.00 | 0 | 138.11 | 1.63 |
| Vinci SA | 19,000 | 19,000 | 45.43 | 0.46 | 0 | 0.00 | 0.00 |
| Goods & Services Total | 19,000 | 19,000 | 45.43 | 0.46 | 0 | 0.00 | 0.00 |
| Health Care | 0 | 0 | 0.00 | 0.00 | 0 | 45.36 | 0.53 |
| Health Care Equipment & Services Total | 0 | 0 | 0.00 | 0.00 | 0 | 45.36 | 0.53 |
| Cooper Companies Inc, The | 38,000 | 38,000 | 44.48 | 0.45 | 0 | 0.00 | 0.00 |
| Integrated Diagnostics Holdings | 2,500,000 | 2,500,000 | 24.24 | 0.25 | 0 | 0.00 | 0.00 |
| Novo-Nordisk A/S | 175,000 | 175,000 | 163.65 | 1.67 | 0 | 0.00 | 0.00 |
| Healthcare Total | 2,713,000 | 2,713,000 | 232.37 | 2.37 | 0 | 0.00 | 0.00 |
| Anglo American plc | 80,000 | 80,000 | 51.72 | 0.53 | 0 | 0.00 | 0.00 |
| Glencore plc | 3,275,000 | 3,275,000 | 261.02 | 2.66 | 0 | 0.00 | 0.00 |
| Kumba Iron Ore Ltd. | 260,000 | 260,000 | 84.46 | 0.86 | 0 | 0.00 | 0.00 |
| Industrial Metals and Mining Total | 3,615,000 | 3,615,000 | 397.20 | 4.05 | 0 | 0.00 | 0.00 |
| Hudaco Industries Ltd. | 149,980 | 149,980 | 26.39 | 0.27 | 0 | 0.00 | 0.00 |
| Industrial Support Services Total | 149,980 | 149,980 | 26.39 | 0.27 | 0 | 0.00 | 0.00 |
| Elevance Health Inc | 8,500 | 8,500 | 46.82 | 0.48 | 0 | 0.00 | 0.00 |
| Insurance Total | 8,500 | 8,500 | 46.82 | 0.48 | 0 | 0.00 | 0.00 |
| Brait plc | 72,624 | 72,624 | 55.19 | 0.56 | 0 | 0.00 | 0.00 |
| JSE Ltd. | 550,000 | 550,000 | 70.11 | 0.71 | 0 | 0.00 | 0.00 |
| PSG Financial Services Ltd. | 6,400,000 | 6,400,000 | 145.92 | 1.49 | 0 | 0.00 | 0.00 |
| Investment Banking and Brokerage Services Total | 7,022,624 | 7,022,624 | 271.23 | 2.76 | 0 | 0.00 | 0.00 |
| Discovery Ltd. | 400,000 | 400,000 | 78.80 | 0.80 | 0 | 0.00 | 0.00 |
| Life Insurance Total | 400,000 | 400,000 | 78.80 | 0.80 | 0 | 0.00 | 0.00 |
| Money Market - 7 months duration | 0 | 0 | 98.28 | 1.00 | 0 | 0.00 | 0.00 |
| Money Market - 9 months duration | 0 | 0 | 93.82 | 0.96 | 0 | 0.00 | 0.00 |
| Nedgroup Investments Corporate Money Market - C25 | 265,300,000 | 265,300,000 | 266.65 | 2.72 | 0 | 0.00 | 0.00 |
| Money Market Total | 265,300,000 | 265,300,000 | 458.75 | 4.68 | 0 | 0.00 | 0.00 |
| Santam Ltd. | 445,018 | 445,018 | 168.16 | 1.71 | 0 | 0.00 | 0.00 |
| Non-life Insurance Total | 445,018 | 445,018 | 168.16 | 1.71 | 0 | 0.00 | 0.00 |
| Abax Global Equity Fund (USD) - C | 550,851 | 550,851 | 251.45 | 2.56 | 0 | 0.00 | 0.00 |
| Offshore Intern Total | 550,851 | 550,851 | 251.45 | 2.56 | 0 | 0.00 | 0.00 |
| Thungela Resources Ltd. | 500,000 | 500,000 | 43.76 | 0.45 | 0 | 0.00 | 0.00 |
| Oil, Gas and Coal Total | 500,000 | 500,000 | 43.76 | 0.45 | 0 | 0.00 | 0.00 |
| Bid Corporation Ltd. | 400,000 | 400,000 | 172.90 | 1.76 | 0 | 0.00 | 0.00 |
| Dis-Chem Pharmacies Ltd. | 2,500,000 | 2,500,000 | 81.85 | 0.83 | 0 | 0.00 | 0.00 |
| Shoprite Holdings Ltd. | 300,000 | 300,000 | 82.20 | 0.84 | 0 | 0.00 | 0.00 |
| Personal Care, Drug and Grocery Stores Total | 3,200,000 | 3,200,000 | 336.95 | 3.43 | 0 | 0.00 | 0.00 |
| Compagnie Financière Richemont SA | 42,000 | 42,000 | 137.31 | 1.40 | 0 | 0.00 | 0.00 |
| Personal Goods Total | 42,000 | 42,000 | 137.31 | 1.40 | 0 | 0.00 | 0.00 |
| Adcock Ingram Holdings Ltd. | 900,000 | 900,000 | 64.80 | 0.66 | 0 | 0.00 | 0.00 |
| Pharmaceuticals and Biotechnology Total | 900,000 | 900,000 | 64.80 | 0.66 | 0 | 0.00 | 0.00 |
| AngloGold Ashanti plc | 45,000 | 45,000 | 54.61 | 0.56 | 0 | 0.00 | 0.00 |
| Valterra Platinum Ltd. | 105,600 | 105,600 | 130.46 | 1.33 | 0 | 0.00 | 0.00 |
| Precious Metals and Mining Total | 150,600 | 150,600 | 185.06 | 1.89 | 0 | 0.00 | 0.00 |
| Domestic Funds (Real Estate) | 0 | 0 | 0.00 | 0.00 | 0 | 133.35 | 1.57 |
| Real Estate Total | 0 | 0 | 0.00 | 0.00 | 0 | 133.35 | 1.57 |
| Fortress Real Estate Investments Ltd. | 1,250,000 | 1,250,000 | 28.84 | 0.29 | 0 | 0.00 | 0.00 |
| Real Estate Investment and Services Total | 1,250,000 | 1,250,000 | 28.84 | 0.29 | 0 | 0.00 | 0.00 |
| Hammerson plc | 1,150,000 | 1,150,000 | 78.64 | 0.80 | 0 | 0.00 | 0.00 |
| Shaftesbury Capital plc | 3,650,000 | 3,650,000 | 120.21 | 1.23 | 0 | 0.00 | 0.00 |
| Stor-Age Property REIT Ltd. | 1,200,000 | 1,200,000 | 18.60 | 0.19 | 0 | 0.00 | 0.00 |
| Real Estate Investment Trusts Total | 6,000,000 | 6,000,000 | 217.45 | 2.22 | 0 | 0.00 | 0.00 |
| Lululemon Athletica Incorporated | 27,500 | 27,500 | 84.30 | 0.86 | 0 | 0.00 | 0.00 |
| Retail Total | 27,500 | 27,500 | 84.30 | 0.86 | 0 | 0.00 | 0.00 |
| Combined Motor Holdings Ltd. | 1,262,220 | 1,262,220 | 41.65 | 0.42 | 0 | 0.00 | 0.00 |
| Italtile Ltd. | 5,250,000 | 5,250,000 | 48.62 | 0.50 | 0 | 0.00 | 0.00 |
| KAL Group Ltd. | 809,100 | 809,100 | 33.84 | 0.35 | 0 | 0.00 | 0.00 |
| Mr Price Group Ltd. | 375,000 | 375,000 | 76.39 | 0.78 | 0 | 0.00 | 0.00 |
| Pepkor Holdings Ltd. | 3,950,000 | 3,950,000 | 96.02 | 0.98 | 0 | 0.00 | 0.00 |
| Truworths International Ltd. | 1,400,000 | 1,400,000 | 76.58 | 0.78 | 0 | 0.00 | 0.00 |
| We Buy Cars Holdings Ltd. | 2,508,859 | 2,508,859 | 138.94 | 1.42 | 0 | 0.00 | 0.00 |
| Woolworths Holdings Ltd. | 2,750,000 | 2,750,000 | 138.30 | 1.41 | 0 | 0.00 | 0.00 |
| Retailers Total | 18,305,179 | 18,305,179 | 650.34 | 6.63 | 0 | 0.00 | 0.00 |
| Technology | 0 | 0 | 0.00 | 0.00 | 0 | 287.57 | 3.38 |
| Software & Computer Services Total | 0 | 0 | 0.00 | 0.00 | 0 | 287.57 | 3.38 |
| Bytes Technology Group plc | 900,000 | 900,000 | 83.07 | 0.85 | 0 | 0.00 | 0.00 |
| Prosus NV | 340,000 | 340,000 | 411.64 | 4.20 | 0 | 0.00 | 0.00 |
| Software and Computer Services Total | 1,240,000 | 1,240,000 | 494.71 | 5.04 | 0 | 0.00 | 0.00 |
| Adobe Systems | 20,000 | 20,000 | 122.74 | 1.25 | 0 | 0.00 | 0.00 |
| Adyen N.V. | 2,650 | 2,650 | 73.33 | 0.75 | 0 | 0.00 | 0.00 |
| Amazon.Com | 18,000 | 18,000 | 67.94 | 0.69 | 0 | 0.00 | 0.00 |
| Applied Materials Incorporated | 19,000 | 19,000 | 67.69 | 0.69 | 0 | 0.00 | 0.00 |
| Salesforce.com Inc | 22,000 | 22,000 | 90.59 | 0.92 | 0 | 0.00 | 0.00 |
| Wix.com Ltd | 40,000 | 40,000 | 119.72 | 1.22 | 0 | 0.00 | 0.00 |
| Technology Total | 121,650 | 121,650 | 542.01 | 5.52 | 0 | 0.00 | 0.00 |
| City Lodge Hotels Ltd. | 9,500,000 | 9,500,000 | 38.57 | 0.39 | 0 | 0.00 | 0.00 |
| Travel and Leisure Total | 9,500,000 | 9,500,000 | 38.57 | 0.39 | 0 | 0.00 | 0.00 |
| Portfolio Total | 706,087,121 | 706,087,121 | 9,810.34 | 100.00 | 0 | 8,498.14 | 100.00 |