| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | 3,630 | 28,745 | 99.75 | 5.30 | 25,115 | 89.30 | 5.67 |
| Nedbank Group Ltd. | 10,700 | 295,645 | 63.28 | 3.36 | 284,945 | 69.56 | 4.41 |
| Standard Bank Group Ltd. | 47,000 | 408,099 | 96.42 | 5.12 | 361,099 | 82.23 | 5.22 |
| Nu Holdings Ltd | 14,700 | 14,700 | 4.05 | 0.22 | 0 | 0.00 | 0.00 |
| Banks Total | 76,030 | 747,189 | 263.50 | 13.99 | 671,159 | 241.09 | 15.29 |
| EOG Resources | 0 | 6,440 | 12.62 | 0.67 | 6,440 | 13.83 | 0.88 |
| Basic Resources Total | 0 | 6,440 | 12.62 | 0.67 | 6,440 | 13.83 | 0.88 |
| SA Bond ASN037 | 0 | 500,000 | 1.35 | 0.07 | 500,000 | 1.28 | 0.08 |
| SA Bond EL28 | 0 | 500,000 | 0.92 | 0.05 | 500,000 | 0.89 | 0.06 |
| SA Bond EL29 | 0 | 1,500,000 | 2.53 | 0.13 | 1,500,000 | 2.43 | 0.15 |
| SA Bond EL30 | 0 | 1,500,000 | 2.40 | 0.13 | 1,500,000 | 2.33 | 0.15 |
| SA Bond EL31 | 0 | 400,000 | 0.58 | 0.03 | 400,000 | 0.55 | 0.04 |
| SA Bond ES33 | 0 | 4,713,000 | 4.16 | 0.22 | 4,713,000 | 4.04 | 0.26 |
| SA Bond FRBI33 | 2,100,000 | 2,100,000 | 5.71 | 0.30 | 0 | 0.00 | 0.00 |
| SA Bond FRC501 | 0 | 1,000,000 | 1.34 | 0.07 | 1,000,000 | 1.30 | 0.08 |
| SA Bond FRS137 | 0 | 455,000 | 1.13 | 0.06 | 455,000 | 1.10 | 0.07 |
| SA Bond I2033 | 11,000,000 | 20,700,000 | 27.75 | 1.47 | 9,700,000 | 12.56 | 0.80 |
| SA Bond I2038 | 0 | 5,000,000 | 7.24 | 0.38 | 5,000,000 | 7.00 | 0.44 |
| SA Bond R186 | 0 | 15,400,000 | 16.39 | 0.87 | 15,400,000 | 16.03 | 1.02 |
| SA Bond R2032 | 3,000,000 | 15,900,000 | 15.70 | 0.83 | 12,900,000 | 12.59 | 0.80 |
| SA Bond R2033 | 0 | 10,500,000 | 11.24 | 0.60 | 10,500,000 | 11.13 | 0.71 |
| SA Bond R2035 | 0 | 24,290,000 | 24.06 | 1.28 | 24,290,000 | 23.41 | 1.49 |
| SA Bond R2037 | 2,250,000 | 38,555,000 | 36.10 | 1.92 | 36,305,000 | 32.88 | 2.09 |
| SA Bond R2038 | 0 | 27,100,000 | 29.41 | 1.56 | 27,100,000 | 28.53 | 1.81 |
| SA Bond R2040 | 0 | 48,030,000 | 44.76 | 2.38 | 48,030,000 | 43.41 | 2.75 |
| SA Bond R2044 | 39,400,000 | 103,550,000 | 91.79 | 4.87 | 64,150,000 | 54.57 | 3.46 |
| SA Bond R209 | 0 | 4,900,000 | 3.89 | 0.21 | 4,900,000 | 3.73 | 0.24 |
| SA Bond R213 | 0 | 4,000,000 | 3.82 | 0.20 | 4,000,000 | 3.77 | 0.24 |
| SA Bond R214 | 22,650,000 | 22,650,000 | 16.54 | 0.88 | 0 | 0.00 | 0.00 |
| SA Bond SBSI14 | 0 | 1,410,558 | 3.84 | 0.20 | 1,410,558 | 3.66 | 0.23 |
| SA Bond TN30 | 0 | 1,300,000 | 1.44 | 0.08 | 1,300,000 | 1.34 | 0.08 |
| Bond Total | 80,400,000 | 355,953,558 | 354.09 | 18.80 | 275,553,558 | 268.53 | 17.04 |
| Cash on call | 0 | 0 | 7.01 | 0.37 | 0 | 14.20 | 0.90 |
| Margin Account | 0 | 0 | 17.22 | 0.91 | 0 | 10.87 | 0.69 |
| Cash on call Total | 0 | 0 | 24.23 | 1.29 | 0 | 25.07 | 1.59 |
| Lowes Companies | 0 | 2,848 | 12.47 | 0.66 | 2,848 | 11.32 | 0.72 |
| Construction Total | 0 | 2,848 | 12.47 | 0.66 | 2,848 | 11.32 | 0.72 |
| Stadio Holdings Ltd. | 218,846 | 218,846 | 2.30 | 0.12 | 0 | 0.00 | 0.00 |
| Consumer Services Total | 218,846 | 218,846 | 2.30 | 0.12 | 0 | 0.00 | 0.00 |
| Howden Joinery Group PLC | 0 | 162,900 | 31.91 | 1.69 | 162,900 | 34.11 | 2.16 |
| Cyclical Goods & Services Total | 0 | 162,900 | 31.91 | 1.69 | 162,900 | 34.11 | 2.16 |
| Equity Derivative | 0 | 0 | 9.04 | 0.48 | 0 | 0.00 | 0.00 |
| Derivatives Total | 0 | 0 | 9.04 | 0.48 | 0 | 0.00 | 0.00 |
| Keyence Corporation | 1,850 | 1,850 | 11.96 | 0.63 | 0 | 0.00 | 0.00 |
| Rational | 0 | 235 | 3.12 | 0.17 | 235 | 3.56 | 0.23 |
| Equities Total | 1,850 | 2,085 | 15.07 | 0.80 | 235 | 3.56 | 0.23 |
| Derwent London | 10,800 | 125,295 | 51.29 | 2.72 | 114,495 | 58.03 | 3.68 |
| EXOR S.p.A | 430 | 20,199 | 34.13 | 1.81 | 19,769 | 35.18 | 2.23 |
| Interactive Brokers Group | 16,468 | 70,956 | 84.37 | 4.48 | 54,488 | 52.27 | 3.32 |
| Mastercard Inc | 0 | 632 | 6.21 | 0.33 | 632 | 6.18 | 0.39 |
| Mercadolibre Inc | 425 | 425 | 18.37 | 0.98 | 0 | 0.00 | 0.00 |
| Financial Services Total | 28,123 | 217,507 | 194.38 | 10.32 | 189,384 | 151.67 | 9.62 |
| Australia - Currency | 0 | 0 | 0.02 | 0.00 | 0 | 0.02 | 0.00 |
| European - Currency | 0 | 0 | 0.07 | 0.00 | 0 | 2.04 | 0.13 |
| Foreign - Currency | 0 | 0 | 0.44 | 0.02 | 0 | 0.45 | 0.03 |
| Hong Kong - Currency | 0 | 0 | 0.75 | 0.04 | 0 | 0.81 | 0.05 |
| Japan - Currency | 0 | 0 | 0.03 | 0.00 | 0 | 0.01 | 0.00 |
| Switzerland - Currency | 0 | 0 | 0.05 | 0.00 | 0 | 0.05 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.06 | 0.00 | 0 | 0.04 | 0.00 |
| USA - Currency | 0 | 0 | 0.77 | 0.04 | 0 | 5.85 | 0.37 |
| For Currency Total | 0 | 0 | 2.18 | 0.12 | 0 | 9.28 | 0.59 |
| Foreign - Equities | 0 | 0 | 46.60 | 2.47 | 0 | 43.14 | 2.74 |
| Foreign Invest Total | 0 | 0 | 46.60 | 2.47 | 0 | 43.14 | 2.74 |
| British Land Company | 94,000 | 94,000 | 7.57 | 0.40 | 0 | 0.00 | 0.00 |
| NewRiver Retail Ltd | 43,753 | 1,195,553 | 20.00 | 1.06 | 1,151,800 | 21.42 | 1.36 |
| Unibail-Rodamco | 2,990 | 55,380 | 100.10 | 5.32 | 52,390 | 88.09 | 5.59 |
| Foreign Property Total | 140,743 | 1,344,933 | 127.67 | 6.78 | 1,204,190 | 109.52 | 6.95 |
| ASML Holding NV | 0 | 1,622 | 27.18 | 1.44 | 1,622 | 22.99 | 1.46 |
| Lam Research Corporation | 0 | 28,435 | 64.51 | 3.43 | 28,435 | 49.22 | 3.12 |
| Goods & Services Total | 0 | 30,057 | 91.69 | 4.87 | 30,057 | 72.21 | 4.58 |
| African Rainbow Minerals Ltd. | 60,000 | 60,000 | 11.13 | 0.59 | 0 | 0.00 | 0.00 |
| Afrimat Ltd. | 163,000 | 985,444 | 37.61 | 2.00 | 822,444 | 36.49 | 2.32 |
| Industrial Metals and Mining Total | 223,000 | 1,045,444 | 48.74 | 2.59 | 822,444 | 36.49 | 2.32 |
| Hudaco Industries Ltd. | 7,000 | 170,703 | 29.70 | 1.58 | 163,703 | 31.99 | 2.03 |
| Industrial Support Services Total | 7,000 | 170,703 | 29.70 | 1.58 | 163,703 | 31.99 | 2.03 |
| AIA Group Limited | 14,700 | 367,220 | 60.89 | 3.23 | 352,520 | 56.21 | 3.57 |
| Insurance Total | 14,700 | 367,220 | 60.89 | 3.23 | 352,520 | 56.21 | 3.57 |
| JSE Ltd. | 0 | 76,500 | 9.77 | 0.52 | 76,500 | 10.19 | 0.65 |
| Investment Banking and Brokerage Services Total | 0 | 76,500 | 9.77 | 0.52 | 76,500 | 10.19 | 0.65 |
| Money Market Instrument | 0 | 0 | 7.54 | 0.40 | 0 | 4.66 | 0.30 |
| Granate BCI Money Market - C | 497 | 26,102 | 0.03 | 0.00 | 25,605 | 0.03 | 0.00 |
| Money Market Total | 497 | 26,102 | 7.56 | 0.40 | 25,605 | 4.68 | 0.30 |
| OUTsurance Group Ltd. | 108,000 | 950,139 | 67.88 | 3.60 | 842,139 | 65.97 | 4.19 |
| Santam Ltd. | 27,820 | 122,700 | 46.29 | 2.46 | 94,880 | 40.41 | 2.56 |
| Non-life Insurance Total | 135,820 | 1,072,839 | 114.17 | 6.06 | 937,019 | 106.39 | 6.75 |
| Shoprite Holdings Ltd. | 25,823 | 140,033 | 38.38 | 2.04 | 114,210 | 31.97 | 2.03 |
| Personal Care, Drug and Grocery Stores Total | 25,823 | 140,033 | 38.38 | 2.04 | 114,210 | 31.97 | 2.03 |
| SA Corporate Real Estate Ltd. | 0 | 13,950,000 | 43.25 | 2.30 | 13,950,000 | 43.80 | 2.78 |
| Real Estate Investment Trusts Total | 0 | 13,950,000 | 43.25 | 2.30 | 13,950,000 | 43.80 | 2.78 |
| Shopify | 13,760 | 13,760 | 35.43 | 1.88 | 0 | 0.00 | 0.00 |
| Retail Total | 13,760 | 13,760 | 35.43 | 1.88 | 0 | 0.00 | 0.00 |
| CA Sales Holdings Ltd. | 150,000 | 1,007,470 | 17.34 | 0.92 | 857,470 | 14.95 | 0.95 |
| KAL Group Ltd. | 103,731 | 822,611 | 34.22 | 1.82 | 718,880 | 30.22 | 1.92 |
| Mr Price Group Ltd. | 26,000 | 188,650 | 38.55 | 2.05 | 162,650 | 36.06 | 2.29 |
| Retailers Total | 279,731 | 2,018,731 | 90.11 | 4.78 | 1,739,000 | 81.24 | 5.15 |
| Applied Materials Incorporated | 240 | 13,265 | 46.99 | 2.49 | 13,025 | 42.43 | 2.69 |
| Microsoft Corporation | 90 | 2,312 | 20.56 | 1.09 | 2,222 | 19.59 | 1.24 |
| Taiwan Semiconductors | 1,000 | 28,190 | 133.43 | 7.08 | 27,190 | 110.78 | 7.03 |
| Tokyo Electron Ltd | 300 | 5,361 | 16.64 | 0.88 | 5,061 | 17.24 | 1.09 |
| Technology Total | 1,630 | 49,128 | 217.61 | 11.55 | 47,498 | 190.04 | 12.06 |
| Portfolio Total | 81,567,553 | 377,616,823 | 1,883.35 | 100.00 | 296,049,270 | 1,576.34 | 100.00 |