| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| FirstRand Ltd. | -3,853 | 801,715 | 61.65 | 1.23 | 805,568 | 51.33 | 1.04 |
| Nedbank Group Ltd. | -1,550 | 345,177 | 88.51 | 1.76 | 346,727 | 79.29 | 1.61 |
| Standard Bank Group Ltd. | -56,003 | 506,361 | 106.75 | 2.13 | 562,364 | 104.17 | 2.11 |
| Banks Total | -61,406 | 1,653,253 | 256.90 | 5.11 | 1,714,659 | 234.79 | 4.76 |
| Anheuser-Busch InBev SA/NV | 10,308 | 95,846 | 101.90 | 2.03 | 85,538 | 98.95 | 2.00 |
| Beverages Total | 10,308 | 95,846 | 101.90 | 2.03 | 85,538 | 98.95 | 2.00 |
| SA Bond BNDS | 0 | 0 | 204.94 | 4.08 | 0 | 211.35 | 4.28 |
| SA Bond I2033 | 4,300,000 | 70,800,000 | 86.83 | 1.73 | 66,500,000 | 79.95 | 1.62 |
| SA Bond I2038 | -83,200,000 | 0 | 0.00 | 0.00 | 83,200,000 | 108.87 | 2.20 |
| SA Bond R214 | 269,850,000 | 269,850,000 | 170.85 | 3.40 | 0 | 0.00 | 0.00 |
| Bond Total | 190,950,000 | 340,650,000 | 462.61 | 9.21 | 149,700,000 | 400.17 | 8.10 |
| Cash on call | 0 | 0 | -13.50 | -0.27 | 0 | -59.00 | -1.20 |
| Cash on call Total | 0 | 0 | -13.50 | -0.27 | 0 | -59.00 | -1.20 |
| Egerton Capital Equity Fund | -1,292 | 47,828 | 108.84 | 2.17 | 49,120 | 117.10 | 2.37 |
| Select Equity Offshore USD Smaller Companies Fund | 305,929 | 305,929 | 67.47 | 1.34 | 0 | 0.00 | 0.00 |
| Equities Total | 304,637 | 353,757 | 176.30 | 3.51 | 49,120 | 117.10 | 2.37 |
| Foreign - Currency | 0 | 0 | 223.36 | 4.45 | 0 | 224.02 | 4.54 |
| For Currency Total | 0 | 0 | 223.36 | 4.45 | 0 | 224.02 | 4.54 |
| Foreign - Bonds | 0 | 0 | 573.81 | 11.42 | 0 | 680.46 | 13.78 |
| Foreign - Equities | 0 | 0 | 1,030.64 | 20.52 | 0 | 1,219.21 | 24.69 |
| Foreign Invest Total | 0 | 0 | 1,604.45 | 31.94 | 0 | 1,899.67 | 38.47 |
| Foreign - Property | 0 | 0 | 43.81 | 0.87 | 0 | 28.64 | 0.58 |
| Foreign Property Total | 0 | 0 | 43.81 | 0.87 | 0 | 28.64 | 0.58 |
| Equity | 0 | 0 | 830.22 | 16.53 | 0 | 749.85 | 15.19 |
| General Equity Total | 0 | 0 | 830.22 | 16.53 | 0 | 749.85 | 15.19 |
| Mondi plc | -75,030 | 146,278 | 51.49 | 1.03 | 221,308 | 73.90 | 1.50 |
| General Industrials Total | -75,030 | 146,278 | 51.49 | 1.03 | 221,308 | 73.90 | 1.50 |
| African Rainbow Minerals Ltd. | 295,865 | 295,865 | 67.16 | 1.34 | 0 | 0.00 | 0.00 |
| Anglo American plc | -178,033 | 0 | 0.00 | 0.00 | 178,033 | 84.16 | 1.70 |
| BHP Group Ltd. | 97,759 | 97,759 | 50.96 | 1.01 | 0 | 0.00 | 0.00 |
| Industrial Metals and Mining Total | 215,591 | 393,624 | 118.12 | 2.35 | 178,033 | 84.16 | 1.70 |
| Quilter plc | 341,712 | 3,235,815 | 89.34 | 1.78 | 2,894,103 | 73.83 | 1.50 |
| Investment Banking and Brokerage Services Total | 341,712 | 3,235,815 | 89.34 | 1.78 | 2,894,103 | 73.83 | 1.50 |
| Contrarius Global Equity | -444,712 | 0 | 78.94 | 1.57 | 444,712 | 95.61 | 1.94 |
| Offshore Intern Total | -444,712 | 0 | 78.94 | 1.57 | 444,712 | 95.61 | 1.94 |
| Bid Corporation Ltd. | 131,734 | 131,734 | 55.97 | 1.11 | 0 | 0.00 | 0.00 |
| Dis-Chem Pharmacies Ltd. | 8,183 | 2,000,620 | 67.34 | 1.34 | 1,992,437 | 64.79 | 1.31 |
| Personal Care, Drug and Grocery Stores Total | 139,917 | 2,132,354 | 123.31 | 2.46 | 1,992,437 | 64.79 | 1.31 |
| Compagnie Financière Richemont SA | -5,801 | 26,929 | 76.75 | 1.53 | 32,730 | 94.51 | 1.91 |
| Personal Goods Total | -5,801 | 26,929 | 76.75 | 1.53 | 32,730 | 94.51 | 1.91 |
| AngloGold Ashanti plc | 142,125 | 142,125 | 65.34 | 1.30 | 0 | 0.00 | 0.00 |
| Precious Metals and Mining Total | 142,125 | 142,125 | 65.34 | 1.30 | 0 | 0.00 | 0.00 |
| Property positions individually less than 1% of fund | 0 | 0 | 74.34 | 1.48 | 0 | 106.10 | 2.15 |
| Real Estate Total | 0 | 0 | 74.34 | 1.48 | 0 | 106.10 | 2.15 |
| NEPI Rockcastle NV | -16,208 | 559,020 | 73.44 | 1.46 | 575,228 | 78.30 | 1.59 |
| Real Estate Investment and Services Total | -16,208 | 559,020 | 73.44 | 1.46 | 575,228 | 78.30 | 1.59 |
| Attacq Ltd. | -436,253 | 7,734,182 | 83.92 | 1.67 | 8,170,435 | 87.18 | 1.77 |
| Redefine Properties Ltd. | 12,917,054 | 12,917,054 | 51.93 | 1.03 | 0 | 0.00 | 0.00 |
| Real Estate Investment Trusts Total | 12,480,801 | 20,651,236 | 135.84 | 2.70 | 8,170,435 | 87.18 | 1.77 |
| Naspers Ltd. | -1,766 | 20,617 | 73.55 | 1.46 | 22,383 | 75.16 | 1.52 |
| Prosus NV | -6,868 | 414,299 | 269.55 | 5.37 | 421,167 | 251.85 | 5.10 |
| Software and Computer Services Total | -8,634 | 434,916 | 343.09 | 6.83 | 443,550 | 327.02 | 6.62 |
| MTN Group Ltd. | -590,337 | 0 | 0.00 | 0.00 | 590,337 | 55.34 | 1.12 |
| Telecommunications Service Providers Total | -590,337 | 0 | 0.00 | 0.00 | 590,337 | 55.34 | 1.12 |
| British American Tobacco plc | 11,582 | 185,313 | 106.63 | 2.12 | 173,731 | 102.68 | 2.08 |
| Tobacco Total | 11,582 | 185,313 | 106.63 | 2.12 | 173,731 | 102.68 | 2.08 |
| Portfolio Total | 203,394,545 | 370,660,466 | 5,022.72 | 100.00 | 167,265,921 | 4,937.59 | 100.00 |