| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 2,603 | 25,612 | 4.64 | 0.56 | 23,009 | 4.04 | 0.59 |
| Capitec Bank Holdings Ltd. | 115 | 2,086 | 7.25 | 0.88 | 1,971 | 7.01 | 1.02 |
| FirstRand Ltd. | 8,134 | 112,486 | 8.74 | 1.06 | 104,352 | 7.95 | 1.15 |
| Investec Ltd. | 0 | 10,227 | 1.31 | 0.16 | 10,227 | 1.35 | 0.20 |
| Investec plc | 0 | 15,569 | 1.99 | 0.24 | 15,569 | 2.06 | 0.30 |
| Nedbank Group Ltd. | 3,719 | 17,851 | 3.81 | 0.46 | 14,132 | 3.45 | 0.50 |
| Standard Bank Group Ltd. | 3,502 | 31,525 | 7.45 | 0.91 | 28,023 | 6.38 | 0.93 |
| Banks Total | 18,073 | 215,356 | 35.19 | 4.28 | 197,283 | 32.24 | 4.68 |
| Anheuser-Busch InBev SA/NV | 491 | 3,658 | 3.76 | 0.46 | 3,167 | 3.86 | 0.56 |
| Beverages Total | 491 | 3,658 | 3.76 | 0.46 | 3,167 | 3.86 | 0.56 |
| SA Bond I2029 | 0 | 1,817,000 | 2.55 | 0.31 | 1,817,000 | 2.50 | 0.36 |
| SA Bond I2031 | 0 | 251,000 | 0.28 | 0.03 | 251,000 | 0.27 | 0.04 |
| SA Bond I2033 | 649,000 | 4,349,000 | 5.82 | 0.71 | 3,700,000 | 4.79 | 0.69 |
| SA Bond I2038 | 1,018,000 | 6,969,000 | 10.10 | 1.23 | 5,951,000 | 8.33 | 1.21 |
| SA Bond I2043 | 0 | 781,000 | 0.88 | 0.11 | 781,000 | 0.86 | 0.12 |
| SA Bond I2046 | 1,615,000 | 11,347,000 | 14.07 | 1.71 | 9,732,000 | 11.55 | 1.67 |
| SA Bond I2050 | 2,035,000 | 13,702,000 | 17.23 | 2.10 | 11,667,000 | 13.70 | 1.99 |
| SA Bond I2058 | 233,000 | 801,000 | 0.91 | 0.11 | 568,000 | 0.62 | 0.09 |
| SA Bond R186 | 0 | 2,734,999 | 2.91 | 0.35 | 2,734,999 | 2.85 | 0.41 |
| SA Bond R202 | 110,000 | 1,722,000 | 4.82 | 0.59 | 1,612,000 | 4.29 | 0.62 |
| SA Bond R2030 | 0 | 7,370,000 | 7.50 | 0.91 | 7,370,000 | 7.50 | 1.09 |
| SA Bond R2032 | 292,000 | 10,043,000 | 9.91 | 1.21 | 9,751,000 | 9.51 | 1.38 |
| SA Bond R2033 | 464,000 | 1,186,000 | 1.27 | 0.15 | 722,000 | 0.77 | 0.11 |
| SA Bond R2035 | 2,022,000 | 13,789,001 | 13.65 | 1.66 | 11,767,001 | 11.34 | 1.64 |
| SA Bond R2037 | 2,254,000 | 14,271,001 | 13.34 | 1.62 | 12,017,001 | 10.88 | 1.58 |
| SA Bond R2038 | 705,000 | 1,817,000 | 1.97 | 0.24 | 1,112,000 | 1.17 | 0.17 |
| SA Bond R2040 | 2,374,000 | 13,652,001 | 12.71 | 1.55 | 11,278,001 | 10.19 | 1.48 |
| SA Bond R2044 | 2,774,000 | 14,385,000 | 12.72 | 1.55 | 11,611,000 | 9.88 | 1.43 |
| SA Bond R2048 | 3,397,000 | 22,625,000 | 19.71 | 2.40 | 19,228,000 | 16.04 | 2.33 |
| SA Bond R2053 | 1,234,000 | 4,664,999 | 5.28 | 0.64 | 3,430,999 | 3.71 | 0.54 |
| SA Bond R209 | 0 | 4,202,000 | 3.33 | 0.41 | 4,202,000 | 3.20 | 0.46 |
| SA Bond R210 | 0 | 544,000 | 1.37 | 0.17 | 544,000 | 1.34 | 0.19 |
| SA Bond R213 | 178,000 | 5,597,000 | 5.34 | 0.65 | 5,419,000 | 5.11 | 0.74 |
| SA Bond R214 | 240,000 | 4,358,001 | 3.18 | 0.39 | 4,118,001 | 2.87 | 0.42 |
| Bond Total | 21,594,000 | 162,978,002 | 170.85 | 20.78 | 141,384,002 | 143.28 | 20.77 |
| SPDR Bloomberg Barclays US Treasury Bond | 19,316 | 111,513 | 41.33 | 5.03 | 92,197 | 34.90 | 5.06 |
| Bonds Total | 19,316 | 111,513 | 41.33 | 5.03 | 92,197 | 34.90 | 5.06 |
| SPDR Bloomberg Barclays 1-3 Month T-Bill ETF | 0 | 2,014 | 4.06 | 0.49 | 2,014 | 4.14 | 0.60 |
| Cash Total | 0 | 2,014 | 4.06 | 0.49 | 2,014 | 4.14 | 0.60 |
| Cash on call | 0 | 0 | 9.72 | 1.18 | 0 | 2.95 | 0.43 |
| Cash on call Total | 0 | 0 | 9.72 | 1.18 | 0 | 2.95 | 0.43 |
| Sasol Ltd. | -5,828 | 28,065 | 3.02 | 0.37 | 33,893 | 2.72 | 0.39 |
| Chemicals Total | -5,828 | 28,065 | 3.02 | 0.37 | 33,893 | 2.72 | 0.39 |
| iShares $ TIPS UCITS ETF | -40,278 | 0 | 0.00 | 0.00 | 40,278 | 20.94 | 3.04 |
| iShares Core FTSE 100 UCITS ETF | 234 | 2,984 | 12.91 | 1.57 | 2,750 | 11.63 | 1.69 |
| iShares Core S&P 500 ETF | 890 | 7,913 | 97.05 | 11.81 | 7,023 | 82.46 | 11.96 |
| iShares Global Energy ETF | 1,600 | 15,132 | 10.87 | 1.32 | 13,532 | 9.48 | 1.37 |
| iShares MSCI China ETF | 0 | 107,969 | 10.53 | 1.28 | 107,969 | 9.04 | 1.31 |
| iShares MSCI Global Metals & Mining Producers ETF | 0 | 10,495 | 8.01 | 0.97 | 10,495 | 7.06 | 1.02 |
| SPDR MSCI Europe UCITS ETF | 2,381 | 15,239 | 27.37 | 3.33 | 12,858 | 22.88 | 3.32 |
| Vanguard FTSE Japan UCITS ETF | 2,496 | 22,833 | 16.79 | 2.04 | 20,337 | 14.49 | 2.10 |
| Equities Total | -32,677 | 182,565 | 183.55 | 22.32 | 215,242 | 177.98 | 25.81 |
| NewGold | 12,968 | 133,520 | 82.15 | 9.99 | 120,552 | 65.21 | 9.46 |
| Exchange Traded Funds Total | 12,968 | 133,520 | 82.15 | 9.99 | 120,552 | 65.21 | 9.46 |
| European - Currency | 0 | 0 | 0.04 | 0.00 | 0 | 0.05 | 0.01 |
| United Kingdom - Currency | 0 | 0 | 0.04 | 0.00 | 0 | 0.05 | 0.01 |
| USA - Currency | 0 | 0 | 0.04 | 0.00 | 0 | 0.74 | 0.11 |
| For Currency Total | 0 | 0 | 0.12 | 0.01 | 0 | 0.83 | 0.12 |
| Foreign - Equities | 0 | 0 | 128.07 | 15.58 | 0 | 88.45 | 12.83 |
| Foreign Invest Total | 0 | 0 | 128.07 | 15.58 | 0 | 88.45 | 12.83 |
| Mondi plc | 3,518 | 13,016 | 3.07 | 0.37 | 9,498 | 2.76 | 0.40 |
| The Bidvest Group Ltd. | 4,028 | 17,192 | 3.64 | 0.44 | 13,164 | 3.09 | 0.45 |
| General Industrials Total | 7,546 | 30,208 | 6.71 | 0.82 | 22,662 | 5.86 | 0.85 |
| Anglo American plc | 57 | 8,761 | 5.66 | 0.69 | 8,704 | 4.53 | 0.66 |
| BHP Group Ltd. | 697 | 7,541 | 3.59 | 0.44 | 6,844 | 2.91 | 0.42 |
| Glencore plc | 46,118 | 46,118 | 3.68 | 0.45 | 0 | 0.00 | 0.00 |
| Industrial Metals and Mining Total | 46,872 | 62,420 | 12.93 | 1.57 | 15,548 | 7.45 | 1.08 |
| Reinet Investments SCA | 0 | 6,421 | 3.24 | 0.39 | 6,421 | 3.69 | 0.54 |
| Remgro Ltd. | 0 | 20,927 | 3.51 | 0.43 | 20,927 | 3.30 | 0.48 |
| Investment Banking and Brokerage Services Total | 0 | 27,348 | 6.75 | 0.82 | 27,348 | 6.99 | 1.01 |
| Discovery Ltd. | 2,326 | 20,667 | 4.07 | 0.50 | 18,341 | 3.95 | 0.57 |
| Old Mutual Ltd. | 0 | 234,943 | 3.14 | 0.38 | 234,943 | 2.82 | 0.41 |
| Sanlam Ltd. | 6,682 | 57,347 | 4.79 | 0.58 | 50,665 | 4.50 | 0.65 |
| Life Insurance Total | 9,008 | 312,957 | 12.00 | 1.46 | 303,949 | 11.27 | 1.63 |
| eMedia Holdings Ltd. | 8,780 | 8,780 | 0.02 | 0.00 | 0 | 0.00 | 0.00 |
| Media Total | 8,780 | 8,780 | 0.02 | 0.00 | 0 | 0.00 | 0.00 |
| OUTsurance Group Ltd. | 4,358 | 48,614 | 3.49 | 0.42 | 44,256 | 3.47 | 0.50 |
| Non-life Insurance Total | 4,358 | 48,614 | 3.49 | 0.42 | 44,256 | 3.47 | 0.50 |
| Bid Corporation Ltd. | 1,234 | 10,979 | 4.75 | 0.58 | 9,745 | 4.60 | 0.67 |
| Clicks Group Ltd. | 862 | 10,133 | 3.57 | 0.43 | 9,271 | 3.45 | 0.50 |
| Shoprite Holdings Ltd. | 1,212 | 15,453 | 4.23 | 0.52 | 14,241 | 3.99 | 0.58 |
| Personal Care, Drug and Grocery Stores Total | 3,308 | 36,565 | 12.55 | 1.53 | 33,257 | 12.04 | 1.75 |
| Compagnie Financière Richemont SA | 117 | 1,442 | 4.71 | 0.57 | 1,325 | 4.41 | 0.64 |
| Personal Goods Total | 117 | 1,442 | 4.71 | 0.57 | 1,325 | 4.41 | 0.64 |
| Aspen Pharmacare Holdings Ltd. | -24,054 | 0 | 0.00 | 0.00 | 24,054 | 2.88 | 0.42 |
| Pharmaceuticals and Biotechnology Total | -24,054 | 0 | 0.00 | 0.00 | 24,054 | 2.88 | 0.42 |
| AngloGold Ashanti plc | -12 | 7,861 | 9.54 | 1.16 | 7,873 | 6.28 | 0.91 |
| Gold Fields Ltd. | -874 | 17,938 | 13.08 | 1.59 | 18,812 | 7.82 | 1.13 |
| Harmony Gold Mining Company Ltd. | 1,142 | 18,306 | 5.76 | 0.70 | 17,164 | 4.14 | 0.60 |
| Impala Platinum Holdings Ltd. | -4,440 | 24,755 | 5.46 | 0.66 | 29,195 | 4.65 | 0.67 |
| Northam Platinum Holdings Ltd. | -2,222 | 15,877 | 4.46 | 0.54 | 18,099 | 3.50 | 0.51 |
| Sibanye Stillwater Ltd. | -9,160 | 104,696 | 5.16 | 0.63 | 113,856 | 3.68 | 0.53 |
| Valterra Platinum Ltd. | 1,313 | 6,101 | 7.54 | 0.92 | 4,788 | 3.79 | 0.55 |
| Precious Metals and Mining Total | -14,253 | 195,534 | 51.00 | 6.20 | 209,787 | 33.87 | 4.91 |
| NEPI Rockcastle NV | 3,548 | 27,729 | 3.83 | 0.47 | 24,181 | 3.28 | 0.48 |
| Real Estate Investment and Services Total | 3,548 | 27,729 | 3.83 | 0.47 | 24,181 | 3.28 | 0.48 |
| Growthpoint Properties Ltd. | 24,164 | 221,312 | 3.26 | 0.40 | 197,148 | 2.62 | 0.38 |
| Real Estate Investment Trusts Total | 24,164 | 221,312 | 3.26 | 0.40 | 197,148 | 2.62 | 0.38 |
| Mr Price Group Ltd. | 3,694 | 16,035 | 3.27 | 0.40 | 12,341 | 2.74 | 0.40 |
| Pepkor Holdings Ltd. | 30,752 | 150,053 | 3.65 | 0.44 | 119,301 | 3.25 | 0.47 |
| Woolworths Holdings Ltd. | 7,229 | 56,955 | 2.86 | 0.35 | 49,726 | 2.58 | 0.37 |
| Retailers Total | 41,675 | 223,043 | 9.78 | 1.19 | 181,368 | 8.58 | 1.24 |
| Naspers Ltd. | 80 | 1,982 | 12.40 | 1.51 | 1,902 | 10.54 | 1.53 |
| Prosus NV | -293 | 4,642 | 5.62 | 0.68 | 4,935 | 4.89 | 0.71 |
| Software and Computer Services Total | -213 | 6,624 | 18.02 | 2.19 | 6,837 | 15.43 | 2.24 |
| MTN Group Ltd. | 0 | 45,053 | 6.53 | 0.79 | 45,053 | 6.36 | 0.92 |
| Vodacom Group Ltd. | 2,688 | 28,459 | 3.79 | 0.46 | 25,771 | 3.52 | 0.51 |
| Telecommunications Service Providers Total | 2,688 | 73,512 | 10.33 | 1.26 | 70,824 | 9.88 | 1.43 |
| British American Tobacco plc | -634 | 5,332 | 4.86 | 0.59 | 5,966 | 5.10 | 0.74 |
| Tobacco Total | -634 | 5,332 | 4.86 | 0.59 | 5,966 | 5.10 | 0.74 |
| Portfolio Total | 21,719,253 | 164,936,113 | 822.04 | 99.99 | 143,216,860 | 689.69 | 100.00 |