| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | -20,424 | 187,637 | 491.33 | 12.00 | 208,061 | 433.21 | 11.68 |
| FirstRand Ltd. | 0 | 1,234,922 | 93.87 | 2.29 | 1,234,922 | 79.02 | 2.13 |
| ICICI Bank Ltd | 20,194 | 174,210 | 91.94 | 2.24 | 154,016 | 75.88 | 2.05 |
| Nu Holdings Ltd | 46,150 | 308,816 | 72.58 | 1.77 | 262,666 | 59.54 | 1.61 |
| Banks Total | 45,920 | 1,905,585 | 749.72 | 18.31 | 1,859,665 | 647.65 | 17.46 |
| Cash on call | 0 | 0 | 55.30 | 1.35 | 0 | 29.20 | 0.79 |
| Cash on call Total | 0 | 0 | 55.30 | 1.35 | 0 | 29.20 | 0.79 |
| Sasol Ltd. | 0 | 145,433 | 20.12 | 0.49 | 145,433 | 21.13 | 0.57 |
| Chemicals Total | 0 | 145,433 | 20.12 | 0.49 | 145,433 | 21.13 | 0.57 |
| African Rainbow Capital Investments Ltd. | 0 | 10,301,691 | 71.08 | 1.74 | 10,301,691 | 51.92 | 1.40 |
| Closed End Investments Total | 0 | 10,301,691 | 71.08 | 1.74 | 10,301,691 | 51.92 | 1.40 |
| Wilson Bayly Holmes - Ovcon Ltd. | 0 | 74,347 | 12.01 | 0.29 | 74,347 | 10.12 | 0.27 |
| Construction and Materials Total | 0 | 74,347 | 12.01 | 0.29 | 74,347 | 10.12 | 0.27 |
| Curro Holdings Ltd. | 0 | 3,149,214 | 35.43 | 0.87 | 3,149,214 | 34.64 | 0.93 |
| Stadio Holdings Ltd. | 0 | 9,555,139 | 49.69 | 1.21 | 9,555,139 | 46.53 | 1.25 |
| Alibaba Group Holdings Limited | 0 | 8,965 | 12.05 | 0.29 | 8,965 | 12.18 | 0.33 |
| Consumer Services Total | 0 | 12,713,318 | 97.16 | 2.37 | 12,713,318 | 93.35 | 2.52 |
| Albemarle Corp. | 0 | 7,000 | 12.29 | 0.30 | 7,000 | 17.14 | 0.46 |
| Alphabet Inc A | 0 | 14,800 | 49.92 | 1.22 | 14,800 | 42.36 | 1.14 |
| Alphabet Inc C | 0 | 13,600 | 46.23 | 1.13 | 13,600 | 39.20 | 1.06 |
| Cyclical Goods & Services Total | 0 | 35,400 | 108.44 | 2.65 | 35,400 | 98.70 | 2.66 |
| Sanlam Anchor Global Equity Fund | 0 | 537,997 | 24.96 | 0.61 | 537,997 | 25.32 | 0.68 |
| Equities Total | 0 | 537,997 | 24.96 | 0.61 | 537,997 | 25.32 | 0.68 |
| Sygnia Itrix 4th Industrial Rev Glb Eqt Actively Managed ETF | 0 | 638,694 | 29.16 | 0.71 | 638,694 | 30.91 | 0.83 |
| Exchange Traded Funds Total | 0 | 638,694 | 29.16 | 0.71 | 638,694 | 30.91 | 0.83 |
| Transaction Capital Ltd. | 0 | 1,136,352 | 3.31 | 0.08 | 1,136,352 | 9.91 | 0.27 |
| Finance and Credit Services Total | 0 | 1,136,352 | 3.31 | 0.08 | 1,136,352 | 9.91 | 0.27 |
| Brookfield Corporation | 0 | 26,338 | 19.91 | 0.49 | 26,338 | 20.77 | 0.56 |
| Citigroup | 0 | 33,723 | 37.76 | 0.92 | 33,723 | 40.14 | 1.08 |
| PayPal Holdings Inc | 0 | 5,970 | 6.34 | 0.15 | 5,970 | 7.54 | 0.20 |
| Scottish Mortgage Investment Trust Plc | 0 | 25,409 | 5.24 | 0.13 | 25,409 | 5.39 | 0.15 |
| Financial Services Total | 0 | 91,440 | 69.25 | 1.69 | 91,440 | 73.85 | 1.99 |
| Brookfield Asset Management Inc | 0 | 6,584 | 4.57 | 0.11 | 6,584 | 5.22 | 0.14 |
| Financials Total | 0 | 6,584 | 4.57 | 0.11 | 6,584 | 5.22 | 0.14 |
| Libstar Holdings Ltd. | 0 | 1,845,474 | 7.20 | 0.18 | 1,845,474 | 6.75 | 0.18 |
| Food Producers Total | 0 | 1,845,474 | 7.20 | 0.18 | 1,845,474 | 6.75 | 0.18 |
| European - Currency | 0 | 0 | 0.65 | 0.02 | 0 | 0.61 | 0.02 |
| Foreign - Money Market | 0 | 0 | 10.91 | 0.27 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.07 | 0.00 | 0 | 0.07 | 0.00 |
| USA - Currency | 0 | 0 | 68.57 | 1.67 | 0 | 92.56 | 2.50 |
| For Currency Total | 0 | 0 | 80.19 | 1.96 | 0 | 93.25 | 2.51 |
| Foreign - Equities | 0 | 0 | 83.58 | 2.04 | 0 | 111.29 | 3.00 |
| Foreign Invest Total | 0 | 0 | 83.58 | 2.04 | 0 | 111.29 | 3.00 |
| The Bidvest Group Ltd. | 41,500 | 195,753 | 56.65 | 1.38 | 154,253 | 38.01 | 1.02 |
| General Industrials Total | 41,500 | 195,753 | 56.65 | 1.38 | 154,253 | 38.01 | 1.02 |
| ASML Holding NV | -2,423 | 0 | 45.57 | 1.11 | 2,423 | 44.49 | 1.20 |
| Samsung Electronics NV | 0 | 1,003 | 26.89 | 0.66 | 1,003 | 28.46 | 0.77 |
| Goods & Services Total | -2,423 | 1,003 | 72.47 | 1.77 | 3,426 | 72.95 | 1.97 |
| AbbVie Inc | 0 | 14,741 | 45.32 | 1.11 | 14,741 | 50.43 | 1.36 |
| Johnson & Johnson | 0 | 9,257 | 24.55 | 0.60 | 9,257 | 27.74 | 0.75 |
| Healthcare Total | 0 | 23,998 | 69.87 | 1.71 | 23,998 | 78.17 | 2.11 |
| Afrimat Ltd. | 160,382 | 1,236,758 | 88.17 | 2.15 | 1,076,376 | 62.43 | 1.68 |
| BHP Group Ltd. | -1,017,888 | 75,281 | 39.30 | 0.96 | 1,093,169 | 41.11 | 1.11 |
| Industrial Metals and Mining Total | -857,506 | 1,312,039 | 127.48 | 3.11 | 2,169,545 | 103.54 | 2.79 |
| Grindrod Ltd. | 0 | 1,362,941 | 20.61 | 0.50 | 1,362,941 | 17.55 | 0.47 |
| Santova Ltd. | 0 | 1,265,147 | 9.69 | 0.24 | 1,265,147 | 9.35 | 0.25 |
| Industrial Transportation Total | 0 | 2,628,088 | 30.30 | 0.74 | 2,628,088 | 26.90 | 0.73 |
| Ping AN Insurance | 0 | 41,151 | 7.14 | 0.17 | 41,151 | 6.57 | 0.18 |
| Insurance Total | 0 | 41,151 | 7.14 | 0.17 | 41,151 | 6.57 | 0.18 |
| Coronation Fund Managers Ltd. | 0 | 822,072 | 29.58 | 0.72 | 822,072 | 24.78 | 0.67 |
| Ninety One Ltd. | 0 | 589,500 | 22.52 | 0.55 | 589,500 | 23.54 | 0.63 |
| PSG Financial Services Ltd. | 0 | 4,143,364 | 72.18 | 1.76 | 4,143,364 | 62.65 | 1.69 |
| Reinet Investments SCA | 0 | 35,308 | 16.22 | 0.40 | 35,308 | 16.12 | 0.43 |
| Remgro Ltd. | 0 | 1,469,753 | 202.77 | 4.95 | 1,469,753 | 177.78 | 4.79 |
| Investment Banking and Brokerage Services Total | 0 | 7,059,997 | 343.26 | 8.38 | 7,059,997 | 304.87 | 8.22 |
| Discovery Ltd. | 0 | 90,095 | 12.18 | 0.30 | 90,095 | 11.04 | 0.30 |
| Life Insurance Total | 0 | 90,095 | 12.18 | 0.30 | 90,095 | 11.04 | 0.30 |
| Bid Corporation Ltd. | 22,831 | 133,510 | 56.81 | 1.39 | 110,679 | 51.13 | 1.38 |
| Shoprite Holdings Ltd. | 0 | 193,332 | 54.96 | 1.34 | 193,332 | 48.28 | 1.30 |
| Personal Care, Drug and Grocery Stores Total | 22,831 | 326,842 | 111.78 | 2.73 | 304,011 | 99.41 | 2.68 |
| Compagnie Financière Richemont SA | 0 | 15,136 | 42.98 | 1.05 | 15,136 | 43.52 | 1.17 |
| Personal Goods Total | 0 | 15,136 | 42.98 | 1.05 | 15,136 | 43.52 | 1.17 |
| Aspen Pharmacare Holdings Ltd. | 0 | 111,505 | 26.13 | 0.64 | 111,505 | 24.38 | 0.66 |
| Pharmaceuticals and Biotechnology Total | 0 | 111,505 | 26.13 | 0.64 | 111,505 | 24.38 | 0.66 |
| CA Sales Holdings Ltd. | 0 | 2,347,929 | 29.23 | 0.71 | 2,347,929 | 27.24 | 0.73 |
| KAL Group Ltd. | 0 | 333,200 | 15.96 | 0.39 | 333,200 | 13.66 | 0.37 |
| Mr Price Group Ltd. | 0 | 127,315 | 26.02 | 0.64 | 127,315 | 22.14 | 0.60 |
| We Buy Cars Holdings Ltd. | 371,337 | 371,337 | 9.91 | 0.24 | 0 | 0.00 | 0.00 |
| Woolworths Holdings Ltd. | 0 | 204,380 | 12.61 | 0.31 | 204,380 | 12.06 | 0.33 |
| Retailers Total | 371,337 | 3,384,161 | 93.74 | 2.29 | 3,012,824 | 75.09 | 2.02 |
| Naspers Ltd. | 0 | 104,331 | 372.53 | 9.10 | 104,331 | 349.19 | 9.41 |
| Prosus NV | 0 | 370,780 | 240.62 | 5.88 | 370,780 | 220.97 | 5.96 |
| Software and Computer Services Total | 0 | 475,111 | 613.15 | 14.97 | 475,111 | 570.15 | 15.37 |
| Amazon.Com | 0 | 22,700 | 81.70 | 2.00 | 22,700 | 77.44 | 2.09 |
| Apple Computer Company | 0 | 28,052 | 109.26 | 2.67 | 28,052 | 92.23 | 2.49 |
| Fortinet Inc | 0 | 26,570 | 29.02 | 0.71 | 26,570 | 33.91 | 0.91 |
| Meta Platforms Inc | 0 | 10,195 | 96.36 | 2.35 | 10,195 | 95.51 | 2.58 |
| Microsoft Corporation | 6,330 | 24,500 | 201.83 | 4.93 | 18,170 | 145.26 | 3.92 |
| Nvidia Corporation | 129,753 | 144,170 | 325.18 | 7.94 | 14,417 | 246.83 | 6.65 |
| Technology Total | 136,083 | 256,187 | 843.34 | 20.59 | 120,104 | 691.17 | 18.64 |
| AT&T Corporation | 0 | 62,368 | 21.27 | 0.52 | 62,368 | 20.76 | 0.56 |
| Verizon Commmunications | 0 | 10,033 | 7.45 | 0.18 | 10,033 | 7.91 | 0.21 |
| Telecom Total | 0 | 72,401 | 28.72 | 0.70 | 72,401 | 28.67 | 0.77 |
| British American Tobacco plc | -35,622 | 347,131 | 200.05 | 4.89 | 382,753 | 225.97 | 6.09 |
| Tobacco Total | -35,622 | 347,131 | 200.05 | 4.89 | 382,753 | 225.97 | 6.09 |
| Portfolio Total | -277,880 | 45,772,913 | 4,095.28 | 100.00 | 46,050,793 | 3,708.99 | 100.00 |