| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 12,649 | 12,649 | 2.23 | 0.50 | 0 | 0.00 | 0.00 |
| Capitec Bank Holdings Ltd. | 45 | 1,300 | 4.62 | 1.04 | 1,255 | 3.93 | 0.95 |
| FirstRand Ltd. | 7,286 | 77,258 | 5.85 | 1.32 | 69,972 | 5.32 | 1.28 |
| Investec Ltd. | 3,769 | 3,769 | 0.50 | 0.11 | 0 | 0.00 | 0.00 |
| Investec plc | 5,738 | 5,738 | 0.76 | 0.17 | 0 | 0.00 | 0.00 |
| Nedbank Group Ltd. | 1,458 | 6,949 | 1.69 | 0.38 | 5,491 | 1.55 | 0.37 |
| Standard Bank Group Ltd. | 388 | 20,187 | 4.59 | 1.03 | 19,799 | 4.39 | 1.06 |
| Banks Total | 31,333 | 127,850 | 20.23 | 4.56 | 96,517 | 15.19 | 3.67 |
| Anheuser-Busch InBev SA/NV | 16 | 1,306 | 1.59 | 0.36 | 1,290 | 1.21 | 0.29 |
| Beverages Total | 16 | 1,306 | 1.59 | 0.36 | 1,290 | 1.21 | 0.29 |
| SA Bond ABFN52 | 0 | 1,000,000 | 1.00 | 0.23 | 1,000,000 | 1.00 | 0.24 |
| SA Bond ABFN74 | 1,000,000 | 2,300,000 | 2.36 | 0.53 | 1,300,000 | 1.32 | 0.32 |
| SA Bond AGLG02 | 0 | 1,000,000 | 1.02 | 0.23 | 1,000,000 | 1.01 | 0.24 |
| SA Bond AGT04 | 1,000,000 | 1,000,000 | 1.03 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond ASC164 | 0 | 1,000,000 | 1.01 | 0.23 | 1,000,000 | 1.01 | 0.24 |
| SA Bond DSY09 | 1,000,000 | 1,000,000 | 1.02 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond EQT015 | 0 | 1,000,000 | 1.01 | 0.23 | 1,000,000 | 1.01 | 0.24 |
| SA Bond FIFB30 | 1,000,000 | 1,000,000 | 1.02 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond FIFB32 | 1,000,000 | 1,000,000 | 1.01 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond FRB29 | -1,000,000 | 0 | 0.00 | 0.00 | 1,000,000 | 1.03 | 0.25 |
| SA Bond FRB35 | 0 | 1,000,000 | 1.03 | 0.23 | 1,000,000 | 1.03 | 0.25 |
| SA Bond FRB41 | 0 | 19,000,000 | 19.35 | 4.36 | 19,000,000 | 19.21 | 4.64 |
| SA Bond I2025 | -300,000 | 0 | 0.00 | 0.00 | 300,000 | 0.56 | 0.14 |
| SA Bond I2029 | -3,800,000 | 0 | 0.00 | 0.00 | 3,800,000 | 5.07 | 1.22 |
| SA Bond I2031 | 2,500,000 | 3,100,000 | 3.37 | 0.76 | 600,000 | 0.65 | 0.16 |
| SA Bond I2033 | 3,100,000 | 3,100,000 | 4.01 | 0.90 | 0 | 0.00 | 0.00 |
| SA Bond INLV06 | 0 | 500,000 | 0.52 | 0.12 | 500,000 | 0.52 | 0.13 |
| SA Bond INLV07 | 0 | 500,000 | 0.51 | 0.11 | 500,000 | 0.51 | 0.12 |
| SA Bond LGL13 | 0 | 1,000,000 | 1.01 | 0.23 | 1,000,000 | 1.01 | 0.24 |
| SA Bond MTN26 | 0 | 500,000 | 0.51 | 0.11 | 500,000 | 0.51 | 0.12 |
| SA Bond MTN29 | 0 | 1,460,000 | 1.48 | 0.33 | 1,460,000 | 1.48 | 0.36 |
| SA Bond MTN38 | 0 | 500,000 | 0.51 | 0.11 | 500,000 | 0.50 | 0.12 |
| SA Bond MTN41 | 0 | 1,000,000 | 1.01 | 0.23 | 1,000,000 | 1.01 | 0.24 |
| SA Bond NBKB67 | 0 | 2,500,000 | 2.53 | 0.57 | 2,500,000 | 2.53 | 0.61 |
| SA Bond NGL11 | 0 | 1,000,000 | 1.03 | 0.23 | 1,000,000 | 1.02 | 0.25 |
| SA Bond NGT107 | 0 | 600,000 | 0.61 | 0.14 | 600,000 | 0.62 | 0.15 |
| SA Bond NGT112 | 1,000,000 | 1,000,000 | 1.03 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond NN339 | 0 | 1,000,000 | 1.01 | 0.23 | 1,000,000 | 1.01 | 0.24 |
| SA Bond NTC44 | 2,000,000 | 2,000,000 | 2.04 | 0.46 | 0 | 0.00 | 0.00 |
| SA Bond OML16 | 0 | 1,000,000 | 1.02 | 0.23 | 1,000,000 | 1.02 | 0.25 |
| SA Bond R186 | 0 | 10,493,983 | 10.92 | 2.46 | 10,493,983 | 10.94 | 2.64 |
| SA Bond R2032 | 0 | 13,079,451 | 12.76 | 2.87 | 13,079,451 | 12.39 | 2.99 |
| SA Bond R2035 | 10,887,142 | 47,558,862 | 45.83 | 10.32 | 36,671,720 | 34.49 | 8.33 |
| SA Bond R2037 | 0 | 33,482,467 | 30.33 | 6.83 | 33,482,467 | 29.63 | 7.15 |
| SA Bond R209 | 2,500,000 | 8,800,000 | 6.70 | 1.51 | 6,300,000 | 4.64 | 1.12 |
| SA Bond R213 | 100,000 | 3,950,000 | 3.73 | 0.84 | 3,850,000 | 3.51 | 0.85 |
| SA Bond RDFB33 | 1,000,000 | 1,000,000 | 1.04 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond RDFG09 | 0 | 1,000,000 | 1.02 | 0.23 | 1,000,000 | 1.02 | 0.25 |
| SA Bond RES66 | 0 | 1,000,000 | 1.02 | 0.23 | 1,000,000 | 1.02 | 0.25 |
| SA Bond RN2030 | 0 | 1,000,000 | 1.00 | 0.22 | 1,000,000 | 1.00 | 0.24 |
| SA Bond RN2032 | 2,000,000 | 2,000,000 | 2.02 | 0.46 | 0 | 0.00 | 0.00 |
| SA Bond SBS67 | -1,000,000 | 0 | 0.00 | 0.00 | 1,000,000 | 1.02 | 0.25 |
| SA Bond SBS76 | 0 | 2,500,000 | 2.63 | 0.59 | 2,500,000 | 2.65 | 0.64 |
| SA Bond SBS82 | -2,000,000 | 0 | 0.00 | 0.00 | 2,000,000 | 2.03 | 0.49 |
| SA Bond SBT113 | 1,000,000 | 1,000,000 | 1.00 | 0.23 | 0 | 0.00 | 0.00 |
| SA Bond SBT207 | -2,000,000 | 0 | 0.00 | 0.00 | 2,000,000 | 2.03 | 0.49 |
| SA Bond SBT208 | 0 | 1,000,000 | 1.02 | 0.23 | 1,000,000 | 1.02 | 0.25 |
| SA Bond SBT210 | 0 | 1,000,000 | 1.04 | 0.23 | 1,000,000 | 1.03 | 0.25 |
| SA Bond SNT05 | 0 | 3,000,000 | 3.02 | 0.68 | 3,000,000 | 3.02 | 0.73 |
| SA Bond SNT07 | -500,000 | 0 | 0.00 | 0.00 | 500,000 | 0.50 | 0.12 |
| SA Bond SST201 | 0 | 3,000,000 | 3.05 | 0.69 | 3,000,000 | 3.04 | 0.73 |
| SA Bond SST204 | 0 | 1,000,000 | 1.01 | 0.23 | 1,000,000 | 1.00 | 0.24 |
| SA Bond VKE22 | 2,000,000 | 2,000,000 | 2.03 | 0.46 | 0 | 0.00 | 0.00 |
| Bond Total | 22,487,142 | 188,924,763 | 184.22 | 41.49 | 166,437,621 | 160.62 | 38.77 |
| Cash on call | 0 | 0 | 4.34 | 0.98 | 0 | 10.41 | 2.51 |
| Margin Account | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Cash on call Total | 0 | 0 | 4.34 | 0.98 | 0 | 10.41 | 2.51 |
| Sasol Ltd. | 8,886 | 8,886 | 0.70 | 0.16 | 0 | 0.00 | 0.00 |
| Chemicals Total | 8,886 | 8,886 | 0.70 | 0.16 | 0 | 0.00 | 0.00 |
| Evolution Gaming Group | 975 | 975 | 1.37 | 0.31 | 0 | 0.00 | 0.00 |
| Hermes International | 16 | 16 | 0.77 | 0.17 | 0 | 0.00 | 0.00 |
| Moncler SPA | 698 | 698 | 0.70 | 0.16 | 0 | 0.00 | 0.00 |
| Tencent Holdings Ltd | 1,000 | 1,000 | 1.14 | 0.26 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 2,689 | 2,689 | 3.98 | 0.90 | 0 | 0.00 | 0.00 |
| China Shenhua Energy Co Ltd | 15,838 | 15,838 | 1.18 | 0.27 | 0 | 0.00 | 0.00 |
| Energy Total | 15,838 | 15,838 | 1.18 | 0.27 | 0 | 0.00 | 0.00 |
| Hoya Corp | 357 | 357 | 0.75 | 0.17 | 0 | 0.00 | 0.00 |
| iShares MSCI India Fund | 2,647 | 2,647 | 2.62 | 0.59 | 0 | 0.00 | 0.00 |
| iShares MSCI USA Quality Factor ETF | 246 | 10,214 | 33.18 | 7.47 | 9,968 | 33.49 | 8.08 |
| iShares NASDAQ 100 UCITS ETF USD (Acc) | -1,108 | 0 | 0.00 | 0.00 | 1,108 | 25.46 | 6.14 |
| Equities Total | 2,142 | 13,218 | 36.56 | 8.23 | 11,076 | 58.95 | 14.23 |
| NewGold | -14,934 | 55,172 | 29.82 | 6.72 | 70,106 | 31.86 | 7.69 |
| Exchange Traded Funds Total | -14,934 | 55,172 | 29.82 | 6.72 | 70,106 | 31.86 | 7.69 |
| Mercadolibre Inc | 19 | 19 | 0.88 | 0.20 | 0 | 0.00 | 0.00 |
| Financial Services Total | 19 | 19 | 0.88 | 0.20 | 0 | 0.00 | 0.00 |
| AVI Ltd. | -7,487 | 0 | 0.00 | 0.00 | 7,487 | 0.82 | 0.20 |
| Tiger Brands Ltd. | -2,227 | 0 | 0.00 | 0.00 | 2,227 | 0.64 | 0.16 |
| Food Producers Total | -9,714 | 0 | 0.00 | 0.00 | 9,714 | 1.47 | 0.35 |
| European - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.01 | 0.00 | 0 | 0.00 | 0.00 |
| USA - Currency | 0 | 0 | 2.10 | 0.47 | 0 | 0.88 | 0.21 |
| For Currency Total | 0 | 0 | 2.11 | 0.48 | 0 | 0.88 | 0.21 |
| Foreign - Equities | 0 | 0 | 8.26 | 1.86 | 0 | 0.00 | 0.00 |
| Foreign - Unit Trusts | 0 | 0 | 63.35 | 14.27 | 0 | 66.60 | 16.07 |
| Foreign Invest Total | 0 | 0 | 71.61 | 16.13 | 0 | 66.60 | 16.07 |
| Mondi plc | 1,461 | 2,977 | 0.87 | 0.20 | 1,516 | 0.42 | 0.10 |
| The Bidvest Group Ltd. | -682 | 5,179 | 1.21 | 0.27 | 5,861 | 1.55 | 0.37 |
| General Industrials Total | 779 | 8,156 | 2.08 | 0.47 | 7,377 | 1.97 | 0.47 |
| ASML Holding NV | 62 | 62 | 0.88 | 0.20 | 0 | 0.00 | 0.00 |
| Atlas Copco AB | 4,010 | 4,010 | 1.14 | 0.26 | 0 | 0.00 | 0.00 |
| Check Point Software Technologies | 197 | 197 | 0.77 | 0.17 | 0 | 0.00 | 0.00 |
| Nongfu Spring Co Ltd | 9,192 | 9,192 | 0.83 | 0.19 | 0 | 0.00 | 0.00 |
| Goods & Services Total | 13,461 | 13,461 | 3.63 | 0.82 | 0 | 0.00 | 0.00 |
| Chugai Pharmaceutical Company Ltd | 1,270 | 1,270 | 1.19 | 0.27 | 0 | 0.00 | 0.00 |
| Novo-Nordisk A/S | 1,326 | 1,326 | 1.63 | 0.37 | 0 | 0.00 | 0.00 |
| Healthcare Total | 2,596 | 2,596 | 2.82 | 0.64 | 0 | 0.00 | 0.00 |
| Anglo American plc | -82 | 5,126 | 2.69 | 0.61 | 5,208 | 2.87 | 0.69 |
| BHP Group Ltd. | -2,764 | 2,538 | 1.08 | 0.24 | 5,302 | 2.44 | 0.59 |
| Glencore plc | -20,099 | 8,571 | 0.60 | 0.13 | 28,670 | 2.39 | 0.58 |
| Industrial Metals and Mining Total | -22,945 | 16,235 | 4.37 | 0.99 | 39,180 | 7.71 | 1.86 |
| Grindrod Ltd. | -98,859 | 0 | 0.00 | 0.00 | 98,859 | 1.18 | 0.29 |
| Industrial Transportation Total | -98,859 | 0 | 0.00 | 0.00 | 98,859 | 1.18 | 0.29 |
| PSG Financial Services Ltd. | -21,454 | 0 | 0.00 | 0.00 | 21,454 | 0.42 | 0.10 |
| Reinet Investments SCA | -45 | 2,030 | 1.17 | 0.26 | 2,075 | 0.93 | 0.22 |
| Remgro Ltd. | -196 | 7,660 | 1.21 | 0.27 | 7,856 | 1.22 | 0.29 |
| Investment Banking and Brokerage Services Total | -21,695 | 9,690 | 2.38 | 0.54 | 31,385 | 2.57 | 0.62 |
| Discovery Ltd. | 675 | 8,146 | 1.75 | 0.39 | 7,471 | 1.46 | 0.35 |
| Momentum Group Ltd. | -40,341 | 0 | 0.00 | 0.00 | 40,341 | 1.22 | 0.29 |
| Old Mutual Ltd. | 2,960 | 65,462 | 0.79 | 0.18 | 62,502 | 0.78 | 0.19 |
| Sanlam Ltd. | -4,002 | 25,403 | 2.25 | 0.51 | 29,405 | 2.55 | 0.62 |
| Life Insurance Total | -40,708 | 99,011 | 4.79 | 1.08 | 139,719 | 6.01 | 1.45 |
| RELX PLC | 823 | 823 | 0.79 | 0.18 | 0 | 0.00 | 0.00 |
| Media Total | 823 | 823 | 0.79 | 0.18 | 0 | 0.00 | 0.00 |
| Money Market - 31 months duration | 0 | 0 | 2.05 | 0.46 | 0 | 0.00 | 0.00 |
| Money Market Instrument | 0 | 0 | 0.00 | 0.00 | 0 | 3.12 | 0.75 |
| Money Market Total | 0 | 0 | 2.05 | 0.46 | 0 | 3.12 | 0.75 |
| OUTsurance Group Ltd. | 573 | 12,679 | 0.99 | 0.22 | 12,106 | 0.81 | 0.19 |
| Santam Ltd. | -1,495 | 0 | 0.00 | 0.00 | 1,495 | 0.59 | 0.14 |
| Non-life Insurance Total | -922 | 12,679 | 0.99 | 0.22 | 13,601 | 1.39 | 0.34 |
| Exxaro Resources Ltd. | -5,953 | 0 | 0.00 | 0.00 | 5,953 | 0.94 | 0.23 |
| Oil, Gas and Coal Total | -5,953 | 0 | 0.00 | 0.00 | 5,953 | 0.94 | 0.23 |
| Bid Corporation Ltd. | -11 | 5,079 | 2.37 | 0.53 | 5,090 | 2.19 | 0.53 |
| Clicks Group Ltd. | -1,080 | 3,632 | 1.35 | 0.30 | 4,712 | 1.76 | 0.42 |
| Shoprite Holdings Ltd. | -56 | 7,314 | 2.03 | 0.46 | 7,370 | 2.17 | 0.52 |
| Personal Care, Drug and Grocery Stores Total | -1,147 | 16,025 | 5.75 | 1.29 | 17,172 | 6.12 | 1.48 |
| Compagnie Financière Richemont SA | -94 | 768 | 2.56 | 0.58 | 862 | 2.39 | 0.58 |
| Personal Goods Total | -94 | 768 | 2.56 | 0.58 | 862 | 2.39 | 0.58 |
| Aspen Pharmacare Holdings Ltd. | -974 | 5,906 | 0.71 | 0.16 | 6,880 | 1.13 | 0.27 |
| Pharmaceuticals and Biotechnology Total | -974 | 5,906 | 0.71 | 0.16 | 6,880 | 1.13 | 0.27 |
| AngloGold Ashanti plc | -349 | 5,249 | 4.20 | 0.95 | 5,598 | 2.36 | 0.57 |
| Gold Fields Ltd. | 168 | 13,458 | 5.60 | 1.26 | 13,290 | 3.28 | 0.79 |
| Harmony Gold Mining Company Ltd. | 8,475 | 8,475 | 2.07 | 0.47 | 0 | 0.00 | 0.00 |
| Impala Platinum Holdings Ltd. | 12,283 | 12,283 | 1.95 | 0.44 | 0 | 0.00 | 0.00 |
| Northam Platinum Holdings Ltd. | -9,321 | 0 | 0.00 | 0.00 | 9,321 | 0.91 | 0.22 |
| Sibanye Stillwater Ltd. | 42,809 | 42,809 | 1.38 | 0.31 | 0 | 0.00 | 0.00 |
| Valterra Platinum Ltd. | -190 | 1,936 | 1.53 | 0.34 | 2,126 | 1.21 | 0.29 |
| Precious Metals and Mining Total | 53,875 | 84,210 | 16.74 | 3.77 | 30,335 | 7.76 | 1.87 |
| Fortress Real Estate Investments Ltd. | 3,513 | 11,978 | 0.24 | 0.05 | 8,465 | 0.17 | 0.04 |
| MAS plc | -999 | 2,334 | 0.06 | 0.01 | 3,333 | 0.08 | 0.02 |
| NEPI Rockcastle NV | 1,723 | 12,552 | 1.69 | 0.38 | 10,829 | 1.49 | 0.36 |
| Real Estate Investment and Services Total | 4,237 | 26,864 | 1.99 | 0.45 | 22,627 | 1.74 | 0.42 |
| Attacq Ltd. | 1,374 | 6,025 | 0.08 | 0.02 | 4,651 | 0.06 | 0.02 |
| Burstone Group Ltd. | -10,241 | 0 | 0.00 | 0.00 | 10,241 | 0.10 | 0.02 |
| Emira Property Fund Ltd. | 0 | 6,382 | 0.07 | 0.02 | 6,382 | 0.07 | 0.02 |
| Equites Property Fund Ltd. | 0 | 9,150 | 0.14 | 0.03 | 9,150 | 0.13 | 0.03 |
| Growthpoint Properties Ltd. | -15,052 | 81,583 | 1.09 | 0.25 | 96,635 | 1.23 | 0.30 |
| Hyprop Investments Ltd. | 800 | 3,152 | 0.13 | 0.03 | 2,352 | 0.11 | 0.03 |
| Redefine Properties Ltd. | 20,223 | 69,499 | 0.32 | 0.07 | 49,276 | 0.22 | 0.05 |
| Resilient REIT Ltd. | 129 | 2,531 | 0.15 | 0.03 | 2,402 | 0.14 | 0.03 |
| SA Corporate Real Estate Ltd. | -11,508 | 0 | 0.00 | 0.00 | 11,508 | 0.03 | 0.01 |
| Stor-Age Property REIT Ltd. | -1,619 | 4,674 | 0.07 | 0.02 | 6,293 | 0.10 | 0.02 |
| Vukile Property Fund Ltd. | -47,499 | 5,063 | 0.10 | 0.02 | 52,562 | 0.94 | 0.23 |
| Real Estate Investment Trusts Total | -63,393 | 188,059 | 2.17 | 0.49 | 251,452 | 3.15 | 0.76 |
| Mr Price Group Ltd. | -336 | 3,837 | 0.85 | 0.19 | 4,173 | 1.23 | 0.30 |
| Pepkor Holdings Ltd. | -3,463 | 40,187 | 1.09 | 0.25 | 43,650 | 1.26 | 0.31 |
| Truworths International Ltd. | -5,384 | 0 | 0.00 | 0.00 | 5,384 | 0.56 | 0.13 |
| Woolworths Holdings Ltd. | -275 | 13,726 | 0.71 | 0.16 | 14,001 | 0.87 | 0.21 |
| Retailers Total | -9,458 | 57,750 | 2.65 | 0.60 | 67,208 | 3.93 | 0.95 |
| Naspers Ltd. | 460 | 2,546 | 14.04 | 3.16 | 2,086 | 8.71 | 2.10 |
| Prosus NV | -742 | 4,561 | 4.52 | 1.02 | 5,303 | 3.97 | 0.96 |
| Software and Computer Services Total | -282 | 7,107 | 18.56 | 4.18 | 7,389 | 12.68 | 3.06 |
| Garmin Ltd | 231 | 231 | 0.86 | 0.19 | 0 | 0.00 | 0.00 |
| Infosys Technologies | 2,412 | 2,412 | 0.79 | 0.18 | 0 | 0.00 | 0.00 |
| Oracle Corporation | 369 | 369 | 0.78 | 0.18 | 0 | 0.00 | 0.00 |
| Xiaomi Corporation B | 9,705 | 9,705 | 1.32 | 0.30 | 0 | 0.00 | 0.00 |
| Technology Total | 12,717 | 12,717 | 3.75 | 0.84 | 0 | 0.00 | 0.00 |
| MTN Group Ltd. | 17,880 | 27,566 | 3.88 | 0.87 | 9,686 | 0.89 | 0.22 |
| Vodacom Group Ltd. | -2,573 | 9,091 | 1.24 | 0.28 | 11,664 | 1.18 | 0.29 |
| Telecommunications Service Providers Total | 15,307 | 36,657 | 5.13 | 1.15 | 21,350 | 2.07 | 0.50 |
| British American Tobacco plc | 1,574 | 3,408 | 2.92 | 0.66 | 1,834 | 1.27 | 0.31 |
| Tobacco Total | 1,574 | 3,408 | 2.92 | 0.66 | 1,834 | 1.27 | 0.31 |
| Portfolio Total | 22,362,356 | 189,751,863 | 444.03 | 100.00 | 167,389,507 | 414.31 | 100.00 |