| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 0 | 328,285 | 78.58 | 0.14 | 328,285 | 59.37 | 0.11 |
| Capitec Bank Holdings Ltd. | 0 | 27,929 | 116.07 | 0.20 | 27,929 | 96.89 | 0.18 |
| FirstRand Ltd. | -1,616,772 | 10,428,134 | 946.35 | 1.66 | 12,044,906 | 937.09 | 1.71 |
| Investec Ltd. | 99,720 | 2,731,861 | 333.78 | 0.59 | 2,632,141 | 336.02 | 0.61 |
| Investec plc | 0 | 2,537,502 | 310.01 | 0.54 | 2,537,502 | 325.00 | 0.59 |
| Nedbank Group Ltd. | -74,383 | 4,738,321 | 1,261.63 | 2.21 | 4,812,704 | 1,032.04 | 1.88 |
| Standard Bank Group Ltd. | -170,108 | 6,002,228 | 1,743.05 | 3.06 | 6,172,336 | 1,463.09 | 2.66 |
| Banks Total | -1,761,543 | 26,794,260 | 4,789.46 | 8.41 | 28,555,803 | 4,249.50 | 7.73 |
| Anheuser-Busch InBev SA/NV | 135,643 | 2,773,203 | 2,968.71 | 5.21 | 2,637,560 | 2,706.98 | 4.93 |
| Beverages Total | 135,643 | 2,773,203 | 2,968.71 | 5.21 | 2,637,560 | 2,706.98 | 4.93 |
| Cash on call | 0 | 0 | 756.30 | 1.33 | 0 | 1,218.56 | 2.22 |
| Margin Account | 0 | 0 | 16.48 | 0.03 | 0 | 16.60 | 0.03 |
| Cash on call Total | 0 | 0 | 772.79 | 1.36 | 0 | 1,235.16 | 2.25 |
| AECI Ltd. | 0 | 640,334 | 57.19 | 0.10 | 640,334 | 62.30 | 0.11 |
| Omnia Holdings Ltd. | 36,526 | 1,405,082 | 110.72 | 0.19 | 1,368,556 | 98.28 | 0.18 |
| Sasol Ltd. | 98,278 | 6,356,932 | 675.11 | 1.19 | 6,258,654 | 673.49 | 1.23 |
| Chemicals Total | 134,804 | 8,402,348 | 843.02 | 1.48 | 8,267,544 | 834.07 | 1.52 |
| Group Five Ltd. | 0 | 1,769,085 | 0.00 | 0.00 | 1,769,085 | 0.00 | 0.00 |
| Construction & Materials Total | 0 | 1,769,085 | 0.00 | 0.00 | 1,769,085 | 0.00 | 0.00 |
| Basil Read Holdings Ltd. | 0 | 56,177,618 | 0.00 | 0.00 | 56,177,618 | 0.00 | 0.00 |
| Construction and Materials Total | 0 | 56,177,618 | 0.00 | 0.00 | 56,177,618 | 0.00 | 0.00 |
| ADvTECH Ltd. | 693,639 | 4,119,562 | 153.37 | 0.27 | 3,425,923 | 107.78 | 0.20 |
| Consumer Services Total | 693,639 | 4,119,562 | 153.37 | 0.27 | 3,425,923 | 107.78 | 0.20 |
| Allan Gray Africa ex SA Equity | -6,760 | 191,795 | 998.72 | 1.75 | 198,555 | 1,010.65 | 1.84 |
| Allan Gray Frontier Markets Equity Fund Limited | 0 | 664,392 | 3,353.87 | 5.89 | 664,392 | 3,277.59 | 5.96 |
| Orbis SICAV International Equity Fund | 315,102 | 13,443,027 | 6,490.54 | 11.39 | 13,127,925 | 6,403.88 | 11.65 |
| Equities Total | 308,342 | 14,299,214 | 10,843.13 | 19.04 | 13,990,872 | 10,692.12 | 19.46 |
| Nutun Ltd. | 0 | 616,935 | 0.65 | 0.00 | 616,935 | 0.62 | 0.00 |
| Finance and Credit Services Total | 0 | 616,935 | 0.65 | 0.00 | 616,935 | 0.62 | 0.00 |
| Astral Foods Ltd. | 0 | 309,371 | 82.51 | 0.14 | 309,371 | 63.55 | 0.12 |
| AVI Ltd. | 0 | 921,869 | 97.26 | 0.17 | 921,869 | 90.91 | 0.17 |
| Libstar Holdings Ltd. | 0 | 12,973,727 | 61.37 | 0.11 | 12,973,727 | 62.14 | 0.11 |
| Oceana Group Ltd. | 0 | 2,196,536 | 122.43 | 0.21 | 2,196,536 | 111.01 | 0.20 |
| Premier Group Ltd. | 0 | 1,337,810 | 224.30 | 0.39 | 1,337,810 | 204.55 | 0.37 |
| Tiger Brands Ltd. | -89,009 | 1,400,782 | 512.94 | 0.90 | 1,489,791 | 459.99 | 0.84 |
| Food Producers Total | -89,009 | 19,140,095 | 1,100.80 | 1.93 | 19,229,104 | 992.16 | 1.81 |
| USA - Currency | 0 | 0 | 86.80 | 0.15 | 0 | 198.04 | 0.36 |
| For Currency Total | 0 | 0 | 86.80 | 0.15 | 0 | 198.04 | 0.36 |
| Foreign - Unit Trust - Bonds | 0 | 0 | -242.71 | -0.43 | 0 | -252.56 | -0.46 |
| Foreign - Unit Trusts | 0 | 0 | 2,976.96 | 5.23 | 0 | 2,655.42 | 4.83 |
| Foreign Invest Total | 0 | 0 | 2,734.25 | 4.80 | 0 | 2,402.86 | 4.37 |
| KAP Ltd. | 0 | 77,268,853 | 148.36 | 0.26 | 77,268,853 | 129.04 | 0.23 |
| Mondi plc | 310,307 | 4,537,092 | 923.75 | 1.62 | 4,226,785 | 999.72 | 1.82 |
| Mpact Ltd. | -449,581 | 278,031 | 6.26 | 0.01 | 727,612 | 18.90 | 0.03 |
| General Industrials Total | -139,274 | 82,083,976 | 1,078.36 | 1.89 | 82,223,250 | 1,147.65 | 2.09 |
| Life Healthcare Group Holdings Ltd. | 5,900,899 | 30,223,105 | 344.24 | 0.60 | 24,322,206 | 282.87 | 0.51 |
| Health Care Providers Total | 5,900,899 | 30,223,105 | 344.24 | 0.60 | 24,322,206 | 282.87 | 0.51 |
| Sappi Ltd. | 111,904 | 12,596,187 | 309.24 | 0.54 | 12,484,283 | 287.76 | 0.52 |
| Industrial Materials Total | 111,904 | 12,596,187 | 309.24 | 0.54 | 12,484,283 | 287.76 | 0.52 |
| Evraz Highveld Steel and Vanadium Ltd. | 0 | 54,460 | 0.00 | 0.00 | 54,460 | 0.00 | 0.00 |
| Industrial Metals Total | 0 | 54,460 | 0.00 | 0.00 | 54,460 | 0.00 | 0.00 |
| African Rainbow Minerals Ltd. | -341,010 | 977,831 | 194.49 | 0.34 | 1,318,841 | 244.03 | 0.44 |
| BHP Group Ltd. | 0 | 910,946 | 461.96 | 0.81 | 910,946 | 437.21 | 0.80 |
| Glencore plc | 137,336 | 19,059,645 | 1,737.29 | 3.05 | 18,922,309 | 1,510.57 | 2.75 |
| Merafe Resources Ltd. | 0 | 8,210,972 | 8.95 | 0.02 | 8,210,972 | 8.79 | 0.02 |
| South32 Ltd. | -2,487,576 | 2,442,731 | 96.10 | 0.17 | 4,930,307 | 154.07 | 0.28 |
| Industrial Metals and Mining Total | -2,691,250 | 31,602,125 | 2,498.78 | 4.39 | 34,293,375 | 2,354.66 | 4.28 |
| Adcorp Holdings Ltd. | 0 | 2,462,585 | 15.17 | 0.03 | 2,462,585 | 16.47 | 0.03 |
| Industrial Support Services Total | 0 | 2,462,585 | 15.17 | 0.03 | 2,462,585 | 16.47 | 0.03 |
| Super Group Ltd. | 0 | 9,972,929 | 188.59 | 0.33 | 9,972,929 | 126.76 | 0.23 |
| Industrial Transportation Total | 0 | 9,972,929 | 188.59 | 0.33 | 9,972,929 | 126.76 | 0.23 |
| Brait plc | 0 | 16,779,916 | 37.42 | 0.07 | 16,779,916 | 35.74 | 0.07 |
| Brait plc | 0 | 23,848 | 17.91 | 0.03 | 23,848 | 18.12 | 0.03 |
| Coronation Fund Managers Ltd. | -491,756 | 2,687,752 | 125.68 | 0.22 | 3,179,508 | 140.85 | 0.26 |
| JSE Ltd. | 0 | 542,951 | 77.88 | 0.14 | 542,951 | 69.31 | 0.13 |
| Ninety One Ltd. | 479,691 | 5,471,871 | 261.61 | 0.46 | 4,992,180 | 227.09 | 0.41 |
| Ninety One plc | -1,214,980 | 2,667,579 | 128.79 | 0.23 | 3,882,559 | 182.29 | 0.33 |
| PSG Financial Services Ltd. | 0 | 6,150,621 | 167.60 | 0.29 | 6,150,621 | 140.23 | 0.26 |
| Quilter plc | 0 | 1,776,073 | 72.02 | 0.13 | 1,776,073 | 68.20 | 0.12 |
| Reinet Investments SCA | 97,718 | 892,712 | 517.77 | 0.91 | 794,994 | 402.08 | 0.73 |
| Remgro Ltd. | 0 | 6,732,650 | 1,222.72 | 2.15 | 6,732,650 | 1,133.91 | 2.06 |
| Investment Banking and Brokerage Services Total | -1,129,327 | 43,725,973 | 2,629.40 | 4.62 | 44,855,300 | 2,417.84 | 4.40 |
| Momentum Group Ltd. | -2,023,408 | 9,244,830 | 353.52 | 0.62 | 11,268,238 | 370.95 | 0.68 |
| Life Insurance Total | -2,023,408 | 9,244,830 | 353.52 | 0.62 | 11,268,238 | 370.95 | 0.68 |
| eMedia Holdings Ltd. | -1,863,128 | 0 | 0.00 | 0.00 | 1,863,128 | 3.26 | 0.01 |
| Media Total | -1,863,128 | 0 | 0.00 | 0.00 | 1,863,128 | 3.26 | 0.01 |
| JCI Ltd. | -157,804,033 | 0 | 0.00 | 0.00 | 157,804,033 | 0.00 | 0.00 |
| Mining Total | -157,804,033 | 0 | 0.00 | 0.00 | 157,804,033 | 0.00 | 0.00 |
| Santam Ltd. | 0 | 108,315 | 46.30 | 0.08 | 108,315 | 40.93 | 0.07 |
| Non-life Insurance Total | 0 | 108,315 | 46.30 | 0.08 | 108,315 | 40.93 | 0.07 |
| Orbis Global Equity | 0 | 1,098,123 | 9,224.83 | 16.19 | 1,098,123 | 9,215.02 | 16.77 |
| Orbis SICAV Emerging Markets Equity | 0 | 187,318 | 148.40 | 0.26 | 187,318 | 148.48 | 0.27 |
| Orbis SICAV Japan Equity (Euro) | -12,304,038 | 823,886 | 1,221.44 | 2.14 | 13,127,924 | 1,251.02 | 2.28 |
| Offshore Intern Total | -12,304,038 | 2,109,327 | 10,594.67 | 18.60 | 14,413,365 | 10,614.53 | 19.31 |
| Exxaro Resources Ltd. | 308,511 | 3,352,726 | 600.14 | 1.05 | 3,044,215 | 548.75 | 1.00 |
| Thungela Resources Ltd. | 938,655 | 2,379,854 | 228.47 | 0.40 | 1,441,199 | 126.08 | 0.23 |
| Oil, Gas and Coal Total | 1,247,166 | 5,732,580 | 828.60 | 1.45 | 4,485,414 | 674.83 | 1.23 |
| Boxer Retail Ltd. | 150,111 | 2,174,164 | 155.13 | 0.27 | 2,024,053 | 140.04 | 0.25 |
| Dis-Chem Pharmacies Ltd. | 1,470,833 | 11,513,843 | 402.98 | 0.71 | 10,043,010 | 329.91 | 0.60 |
| Pick n Pay Stores Ltd. | 0 | 7,476,741 | 186.17 | 0.33 | 7,476,741 | 189.46 | 0.34 |
| The SPAR Group Ltd. | 78,859 | 3,163,272 | 302.09 | 0.53 | 3,084,413 | 300.95 | 0.55 |
| Personal Care, Drug and Grocery Stores Total | 1,699,803 | 24,328,020 | 1,046.37 | 1.84 | 22,628,217 | 960.36 | 1.75 |
| Compagnie Financière Richemont SA | 16,672 | 153,502 | 556.76 | 0.98 | 136,830 | 448.00 | 0.82 |
| Personal Goods Total | 16,672 | 153,502 | 556.76 | 0.98 | 136,830 | 448.00 | 0.82 |
| Adcock Ingram Holdings Ltd. | -809,130 | 0 | 0.00 | 0.00 | 809,130 | 58.06 | 0.11 |
| Aspen Pharmacare Holdings Ltd. | 138,829 | 3,177,835 | 371.14 | 0.65 | 3,039,006 | 292.35 | 0.53 |
| Pharmaceuticals and Biotechnology Total | -670,301 | 3,177,835 | 371.14 | 0.65 | 3,848,136 | 350.42 | 0.64 |
| AngloGold Ashanti plc | -47,938 | 1,532,087 | 2,195.71 | 3.85 | 1,580,025 | 1,921.22 | 3.50 |
| DRDGOLD Ltd. | -1,801,357 | 2,486,745 | 130.21 | 0.23 | 4,288,102 | 205.87 | 0.37 |
| Gold Fields Ltd. | -94,355 | 1,334,895 | 968.75 | 1.70 | 1,429,250 | 1,036.25 | 1.89 |
| Northam Platinum Holdings Ltd. | -416,631 | 1,698,941 | 572.73 | 1.01 | 2,115,572 | 589.10 | 1.07 |
| Pan African Resources plc | 0 | 16,891,954 | 454.90 | 0.80 | 16,891,954 | 340.71 | 0.62 |
| Precious Metals and Mining Total | -2,360,281 | 23,944,622 | 4,322.29 | 7.59 | 26,304,903 | 4,093.15 | 7.45 |
| NEPI Rockcastle NV | 0 | 507,703 | 74.05 | 0.13 | 507,703 | 70.06 | 0.13 |
| Real Estate Investment and Services Total | 0 | 507,703 | 74.05 | 0.13 | 507,703 | 70.06 | 0.13 |
| Hyprop Investments Ltd. | 0 | 1,453,797 | 82.90 | 0.15 | 1,453,797 | 68.10 | 0.12 |
| Real Estate Investment Trusts Total | 0 | 1,453,797 | 82.90 | 0.15 | 1,453,797 | 68.10 | 0.12 |
| Cashbuild Ltd. | 0 | 450,941 | 60.88 | 0.11 | 450,941 | 62.68 | 0.11 |
| Italtile Ltd. | 0 | 4,080,329 | 36.93 | 0.06 | 4,080,329 | 38.76 | 0.07 |
| KAL Group Ltd. | 0 | 169,992 | 8.50 | 0.01 | 169,992 | 7.10 | 0.01 |
| Mr Price Group Ltd. | 729,973 | 2,436,844 | 426.40 | 0.75 | 1,706,871 | 348.63 | 0.63 |
| The Foschini Group Ltd. | 38,702 | 736,979 | 61.87 | 0.11 | 698,277 | 76.80 | 0.14 |
| Truworths International Ltd. | 879,652 | 2,445,937 | 139.25 | 0.24 | 1,566,285 | 85.96 | 0.16 |
| We Buy Cars Holdings Ltd. | 535,252 | 535,252 | 25.60 | 0.04 | 0 | 0.00 | 0.00 |
| Woolworths Holdings Ltd. | -835,193 | 21,584,850 | 1,208.75 | 2.12 | 22,420,043 | 1,125.71 | 2.05 |
| Retailers Total | 1,348,386 | 32,441,124 | 1,968.17 | 3.45 | 31,092,738 | 1,745.63 | 3.18 |
| Naspers Ltd. | 487,258 | 565,039 | 624.09 | 1.10 | 77,781 | 491.11 | 0.89 |
| Prosus NV | -119,668 | 1,981,945 | 2,028.56 | 3.56 | 2,101,613 | 2,561.05 | 4.66 |
| Software and Computer Services Total | 367,590 | 2,546,984 | 2,652.65 | 4.66 | 2,179,394 | 3,052.16 | 5.55 |
| Blu Label Unlimited Group Ltd. | 0 | 15,711,664 | 165.60 | 0.29 | 15,711,664 | 186.81 | 0.34 |
| Cell C Holdings Ltd. | 8,409,573 | 8,409,573 | 239.67 | 0.42 | 0 | 0.00 | 0.00 |
| Telecommunications Service Providers Total | 8,409,573 | 24,121,237 | 405.27 | 0.71 | 15,711,664 | 186.81 | 0.34 |
| British American Tobacco plc | -4,375 | 1,898,754 | 1,787.15 | 3.14 | 1,903,129 | 1,740.75 | 3.17 |
| Tobacco Total | -4,375 | 1,898,754 | 1,787.15 | 3.14 | 1,903,129 | 1,740.75 | 3.17 |
| City Lodge Hotels Ltd. | 0 | 3,388,030 | 17.55 | 0.03 | 3,388,030 | 13.76 | 0.03 |
| Comair Ltd. | 0 | 22,984,377 | 0.00 | 0.00 | 22,984,377 | 0.00 | 0.00 |
| Southern Sun Ltd. | 0 | 10,275,927 | 105.23 | 0.18 | 10,275,927 | 87.35 | 0.16 |
| Spur Corporation Ltd. | 0 | 3,472,901 | 132.87 | 0.23 | 3,472,901 | 119.12 | 0.22 |
| Sun International Ltd. | 0 | 4,235,583 | 163.71 | 0.29 | 4,235,583 | 171.33 | 0.31 |
| Tsogo Sun Ltd. | 0 | 14,042,269 | 98.30 | 0.17 | 14,042,269 | 90.57 | 0.16 |
| Travel and Leisure Total | 0 | 58,399,087 | 517.65 | 0.91 | 58,399,087 | 482.12 | 0.88 |
| Portfolio Total | -162,465,546 | 536,981,377 | 56,964.26 | 100.00 | 699,446,923 | 54,955.35 | 100.00 |