| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -286 | 17,579 | 3.08 | 0.52 | 17,865 | 2.84 | 0.50 |
| Capitec Bank Holdings Ltd. | 40 | 1,518 | 4.63 | 0.78 | 1,478 | 3.87 | 0.68 |
| FirstRand Ltd. | 3,057 | 76,633 | 6.38 | 1.07 | 73,576 | 5.59 | 0.98 |
| Investec Ltd. | 0 | 7,503 | 0.99 | 0.17 | 7,503 | 0.99 | 0.17 |
| Investec plc | 742 | 10,479 | 1.37 | 0.23 | 9,737 | 1.28 | 0.22 |
| Nedbank Group Ltd. | 536 | 10,654 | 3.20 | 0.54 | 10,118 | 2.59 | 0.45 |
| Standard Bank Group Ltd. | 907 | 21,976 | 5.34 | 0.90 | 21,069 | 4.45 | 0.78 |
| Banks Total | 4,996 | 146,342 | 24.98 | 4.20 | 141,346 | 21.61 | 3.77 |
| Anheuser-Busch InBev SA/NV | 143 | 2,079 | 2.38 | 0.40 | 1,936 | 2.04 | 0.36 |
| Beverages Total | 143 | 2,079 | 2.38 | 0.40 | 1,936 | 2.04 | 0.36 |
| SA Bond I2029 | 0 | 3,921,000 | 5.20 | 0.87 | 3,921,000 | 5.11 | 0.89 |
| SA Bond I2033 | 0 | 5,386,000 | 6.81 | 1.14 | 5,386,000 | 6.63 | 1.16 |
| SA Bond I2038 | 0 | 9,623,000 | 13.40 | 2.25 | 9,623,000 | 12.93 | 2.26 |
| SA Bond I2046 | 0 | 11,153,000 | 13.44 | 2.26 | 11,153,000 | 12.88 | 2.25 |
| SA Bond I2050 | 0 | 10,960,000 | 13.33 | 2.24 | 10,960,000 | 12.79 | 2.23 |
| SA Bond R186 | -120,000 | 4,367,000 | 4.72 | 0.79 | 4,487,000 | 4.67 | 0.82 |
| SA Bond R202 | 0 | 3,104,000 | 8.35 | 1.40 | 3,104,000 | 8.06 | 1.41 |
| SA Bond R2030 | -64,000 | 3,781,000 | 3.70 | 0.62 | 3,845,000 | 3.66 | 0.64 |
| SA Bond R2032 | 0 | 3,214,000 | 3.02 | 0.51 | 3,214,000 | 2.88 | 0.50 |
| SA Bond R2035 | -858,000 | 15,947,000 | 14.89 | 2.50 | 16,805,000 | 14.75 | 2.58 |
| SA Bond R2037 | -1,141,000 | 16,944,000 | 14.97 | 2.52 | 18,085,000 | 14.88 | 2.60 |
| SA Bond R2040 | -858,000 | 15,779,000 | 14.06 | 2.36 | 16,637,000 | 13.76 | 2.40 |
| SA Bond R2044 | -1,166,000 | 17,651,000 | 15.11 | 2.54 | 18,817,000 | 14.83 | 2.59 |
| SA Bond R2048 | -943,000 | 17,929,000 | 15.14 | 2.54 | 18,872,000 | 14.66 | 2.56 |
| SA Bond R209 | -441,000 | 9,088,000 | 6.71 | 1.13 | 9,529,000 | 6.52 | 1.14 |
| SA Bond R210 | 0 | 2,538,000 | 6.08 | 1.02 | 2,538,000 | 6.02 | 1.05 |
| SA Bond R213 | 88,000 | 1,754,000 | 1.58 | 0.27 | 1,666,000 | 1.44 | 0.25 |
| SA Bond R214 | -326,000 | 7,966,000 | 5.55 | 0.93 | 8,292,000 | 5.26 | 0.92 |
| Bond Total | -5,829,000 | 161,105,000 | 166.08 | 27.91 | 166,934,000 | 161.74 | 28.25 |
| SPDR Bloomberg Barclays US Treasury Bond | 639 | 36,495 | 14.64 | 2.46 | 35,856 | 14.53 | 2.54 |
| Bonds Total | 639 | 36,495 | 14.64 | 2.46 | 35,856 | 14.53 | 2.54 |
| SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 302 | 8,842 | 17.05 | 2.86 | 8,540 | 17.18 | 3.00 |
| Cash Total | 302 | 8,842 | 17.05 | 2.86 | 8,540 | 17.18 | 3.00 |
| Cash on call | 0 | 0 | 1.73 | 0.29 | 0 | 4.14 | 0.72 |
| Cash on call Total | 0 | 0 | 1.73 | 0.29 | 0 | 4.14 | 0.72 |
| Sasol Ltd. | 2,059 | 19,426 | 2.26 | 0.38 | 17,367 | 2.40 | 0.42 |
| Chemicals Total | 2,059 | 19,426 | 2.26 | 0.38 | 17,367 | 2.40 | 0.42 |
| iShares Core S&P 500 ETF | 0 | 975 | 10.16 | 1.71 | 975 | 10.29 | 1.80 |
| iShares Global Energy ETF | 1,262 | 11,997 | 8.33 | 1.40 | 10,735 | 8.07 | 1.41 |
| iShares MSCI China ETF | 29,175 | 318,251 | 26.50 | 4.45 | 289,076 | 21.27 | 3.71 |
| iShares MSCI Global Metals & Mining Producers ETF | 9,375 | 9,375 | 6.99 | 1.17 | 0 | 0.00 | 0.00 |
| SPDR MSCI Europe UCITS ETF | 9,282 | 9,282 | 13.91 | 2.34 | 0 | 0.00 | 0.00 |
| Vanguard FTSE Japan UCITS ETF | 0 | 16,016 | 10.45 | 1.76 | 16,016 | 10.41 | 1.82 |
| Xtrackers Harvest CSI 300 China ETF | -66,308 | 0 | 0.00 | 0.00 | 66,308 | 9.28 | 1.62 |
| Equities Total | -17,214 | 365,896 | 76.34 | 12.83 | 383,110 | 59.31 | 10.36 |
| NewGold | 107,493 | 107,493 | 45.26 | 7.61 | 0 | 43.63 | 7.62 |
| Exchange Traded Funds Total | 107,493 | 107,493 | 45.26 | 7.61 | 0 | 43.63 | 7.62 |
| European - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.03 | 0.01 |
| United Kingdom - Currency | 0 | 0 | 0.03 | 0.01 | 0 | 0.03 | 0.01 |
| USA - Currency | 0 | 0 | 0.57 | 0.10 | 0 | 0.11 | 0.02 |
| For Currency Total | 0 | 0 | 0.61 | 0.10 | 0 | 0.18 | 0.03 |
| Foreign - Equities | 0 | 0 | 154.94 | 26.03 | 0 | 162.67 | 28.41 |
| Foreign Invest Total | 0 | 0 | 154.94 | 26.03 | 0 | 162.67 | 28.41 |
| Mondi plc | -132 | 6,229 | 2.04 | 0.34 | 6,361 | 2.24 | 0.39 |
| The Bidvest Group Ltd. | -2 | 9,134 | 2.67 | 0.45 | 9,136 | 2.64 | 0.46 |
| General Industrials Total | -134 | 15,363 | 4.70 | 0.79 | 15,497 | 4.88 | 0.85 |
| Anglo American plc | 0 | 7,033 | 3.95 | 0.66 | 7,033 | 4.07 | 0.71 |
| BHP Group Ltd. | 97 | 4,830 | 2.66 | 0.45 | 4,733 | 2.47 | 0.43 |
| Glencore plc | 2 | 20,179 | 2.00 | 0.34 | 20,177 | 2.11 | 0.37 |
| Industrial Metals and Mining Total | 99 | 32,042 | 8.61 | 1.45 | 31,943 | 8.65 | 1.51 |
| Metrofile Holdings Ltd. | -389,597 | 0 | 0.00 | 0.00 | 389,597 | 1.01 | 0.18 |
| Industrial Support Services Total | -389,597 | 0 | 0.00 | 0.00 | 389,597 | 1.01 | 0.18 |
| Reinet Investments SCA | 0 | 4,342 | 2.09 | 0.35 | 4,342 | 2.00 | 0.35 |
| Remgro Ltd. | 1,855 | 15,759 | 2.48 | 0.42 | 13,904 | 1.92 | 0.34 |
| Investment Banking and Brokerage Services Total | 1,855 | 20,101 | 4.57 | 0.77 | 18,246 | 3.91 | 0.68 |
| Discovery Ltd. | 897 | 16,692 | 2.87 | 0.48 | 15,795 | 2.14 | 0.37 |
| Old Mutual Ltd. | 5,773 | 168,250 | 2.31 | 0.39 | 162,477 | 2.01 | 0.35 |
| Sanlam Ltd. | 719 | 36,272 | 3.19 | 0.54 | 35,553 | 2.87 | 0.50 |
| Life Insurance Total | 7,389 | 221,214 | 8.37 | 1.41 | 213,825 | 7.02 | 1.23 |
| Exxaro Resources Ltd. | 553 | 10,845 | 1.85 | 0.31 | 10,292 | 1.83 | 0.32 |
| Oil, Gas and Coal Total | 553 | 10,845 | 1.85 | 0.31 | 10,292 | 1.83 | 0.32 |
| Bid Corporation Ltd. | 622 | 7,174 | 3.20 | 0.54 | 6,552 | 2.79 | 0.49 |
| Clicks Group Ltd. | 233 | 7,010 | 2.79 | 0.47 | 6,777 | 2.34 | 0.41 |
| Shoprite Holdings Ltd. | -90 | 10,596 | 3.10 | 0.52 | 10,686 | 3.04 | 0.53 |
| Personal Care, Drug and Grocery Stores Total | 765 | 24,780 | 9.08 | 1.53 | 24,015 | 8.17 | 1.43 |
| Compagnie Financière Richemont SA | 2 | 1,130 | 3.08 | 0.52 | 1,128 | 3.20 | 0.56 |
| Personal Goods Total | 2 | 1,130 | 3.08 | 0.52 | 1,128 | 3.20 | 0.56 |
| Aspen Pharmacare Holdings Ltd. | -480 | 10,765 | 2.10 | 0.35 | 11,245 | 2.64 | 0.46 |
| Pharmaceuticals and Biotechnology Total | -480 | 10,765 | 2.10 | 0.35 | 11,245 | 2.64 | 0.46 |
| Anglo American Platinum Ltd. | -2,878 | 0 | 0.00 | 0.00 | 2,878 | 1.70 | 0.30 |
| AngloGold Ashanti plc | 103 | 6,717 | 3.13 | 0.53 | 6,614 | 3.06 | 0.53 |
| Gold Fields Ltd. | 270 | 15,084 | 4.13 | 0.69 | 14,814 | 4.12 | 0.72 |
| Harmony Gold Mining Company Ltd. | 734 | 14,919 | 2.70 | 0.45 | 14,185 | 2.42 | 0.42 |
| Impala Platinum Holdings Ltd. | -773 | 25,917 | 2.53 | 0.42 | 26,690 | 2.43 | 0.42 |
| Northam Platinum Holdings Ltd. | 411 | 16,769 | 1.82 | 0.31 | 16,358 | 2.08 | 0.36 |
| Sibanye Stillwater Ltd. | 12,722 | 101,251 | 1.82 | 0.31 | 88,529 | 1.76 | 0.31 |
| Precious Metals and Mining Total | 10,589 | 180,657 | 16.14 | 2.71 | 170,068 | 17.58 | 3.07 |
| NEPI Rockcastle NV | 0 | 16,119 | 2.36 | 0.40 | 16,119 | 2.12 | 0.37 |
| Real Estate Investment and Services Total | 0 | 16,119 | 2.36 | 0.40 | 16,119 | 2.12 | 0.37 |
| Growthpoint Properties Ltd. | 8,757 | 153,208 | 2.14 | 0.36 | 144,451 | 1.76 | 0.31 |
| Real Estate Investment Trusts Total | 8,757 | 153,208 | 2.14 | 0.36 | 144,451 | 1.76 | 0.31 |
| Mr Price Group Ltd. | 196 | 9,490 | 2.56 | 0.43 | 9,294 | 1.90 | 0.33 |
| Pepkor Holdings Ltd. | 29,712 | 29,712 | 0.72 | 0.12 | 0 | 0.00 | 0.00 |
| Woolworths Holdings Ltd. | 2,389 | 33,110 | 2.25 | 0.38 | 30,721 | 1.90 | 0.33 |
| Retailers Total | 32,297 | 72,312 | 5.53 | 0.93 | 40,015 | 3.80 | 0.66 |
| Naspers Ltd. | 172 | 1,781 | 7.53 | 1.27 | 1,609 | 5.75 | 1.00 |
| Prosus NV | 463 | 4,700 | 3.56 | 0.60 | 4,237 | 2.75 | 0.48 |
| Software and Computer Services Total | 635 | 6,481 | 11.09 | 1.86 | 5,846 | 8.49 | 1.48 |
| MTN Group Ltd. | 3,365 | 37,235 | 3.46 | 0.58 | 33,870 | 2.89 | 0.50 |
| Vodacom Group Ltd. | 1,552 | 21,392 | 2.36 | 0.40 | 19,840 | 1.92 | 0.34 |
| Telecommunications Service Providers Total | 4,917 | 58,627 | 5.82 | 0.98 | 53,710 | 4.81 | 0.84 |
| British American Tobacco plc | -259 | 5,310 | 3.42 | 0.57 | 5,569 | 3.21 | 0.56 |
| Tobacco Total | -259 | 5,310 | 3.42 | 0.57 | 5,569 | 3.21 | 0.56 |
| Portfolio Total | -6,053,194 | 162,620,527 | 595.14 | 100.00 | 168,673,721 | 572.50 | 100.00 |