| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | 30,700 | 54,200 | 141.92 | 6.45 | 23,500 | 48.93 | 5.84 |
| Nedbank Group Ltd. | 273,500 | 381,000 | 97.45 | 4.43 | 107,500 | 24.41 | 2.91 |
| Banks Total | 304,200 | 435,200 | 239.38 | 10.87 | 131,000 | 73.34 | 8.75 |
| EOG Resources | 12,000 | 19,000 | 43.05 | 1.95 | 7,000 | 16.78 | 2.00 |
| Basic Resources Total | 12,000 | 19,000 | 43.05 | 1.95 | 7,000 | 16.78 | 2.00 |
| SA Bond CLN454 | 0 | 1,250,000 | 2.21 | 0.10 | 1,250,000 | 2.13 | 0.25 |
| SA Bond EL31 | 0 | 700,000 | 0.93 | 0.04 | 700,000 | 0.91 | 0.11 |
| SA Bond ES33 | 0 | 2,893,000 | 2.23 | 0.10 | 2,893,000 | 2.04 | 0.24 |
| SA Bond FRC501 | 0 | 2,000,000 | 2.45 | 0.11 | 2,000,000 | 2.39 | 0.29 |
| SA Bond FRS137 | 0 | 450,000 | 1.04 | 0.05 | 450,000 | 1.00 | 0.12 |
| SA Bond I2038 | 6,000,000 | 6,000,000 | 8.06 | 0.37 | 0 | 0.00 | 0.00 |
| SA Bond R2030 | 0 | 1,250,000 | 1.19 | 0.05 | 1,250,000 | 1.13 | 0.13 |
| SA Bond R2032 | 4,500,000 | 18,260,000 | 16.34 | 0.74 | 13,760,000 | 11.48 | 1.37 |
| SA Bond R2035 | 78,400,000 | 101,100,000 | 88.81 | 4.03 | 22,700,000 | 18.26 | 2.18 |
| SA Bond R2037 | 51,000,000 | 84,200,000 | 69.33 | 3.15 | 33,200,000 | 24.96 | 2.98 |
| SA Bond R2040 | 20,000,000 | 36,600,000 | 30.29 | 1.38 | 16,600,000 | 12.47 | 1.49 |
| SA Bond R2044 | 4,200,000 | 8,200,000 | 6.47 | 0.29 | 4,000,000 | 2.85 | 0.34 |
| SA Bond R2048 | 0 | 2,000,000 | 1.55 | 0.07 | 2,000,000 | 1.40 | 0.17 |
| SA Bond R213 | 24,200,000 | 25,200,000 | 21.76 | 0.99 | 1,000,000 | 0.81 | 0.10 |
| SA Bond SBSI14 | 0 | 1,466,442 | 3.69 | 0.17 | 1,466,442 | 3.65 | 0.44 |
| SA Bond TN30 | 0 | 1,500,000 | 1.44 | 0.07 | 1,500,000 | 1.46 | 0.17 |
| Unit Trusts - Bond | 0 | 0 | 0.00 | 0.00 | 0 | 4.03 | 0.48 |
| Bond Total | 188,300,000 | 293,069,442 | 257.80 | 11.71 | 104,769,442 | 90.98 | 10.86 |
| iShares 0-3 Month Treasury Bond ETF | 0 | 100 | 0.18 | 0.01 | 100 | 0.19 | 0.02 |
| Bonds Total | 0 | 100 | 0.18 | 0.01 | 100 | 0.19 | 0.02 |
| Cash on call | 0 | 0 | 83.85 | 3.81 | 0 | 24.71 | 2.95 |
| Margin Account | 0 | 0 | 18.73 | 0.85 | 0 | 3.66 | 0.44 |
| Cash on call Total | 0 | 0 | 102.57 | 4.66 | 0 | 28.37 | 3.39 |
| Lowes Companies | 3,600 | 5,400 | 21.59 | 0.98 | 1,800 | 8.65 | 1.03 |
| Construction Total | 3,600 | 5,400 | 21.59 | 0.98 | 1,800 | 8.65 | 1.03 |
| Howden Joinery Group PLC | 182,500 | 325,000 | 65.52 | 2.98 | 142,500 | 30.83 | 3.68 |
| Cyclical Goods & Services Total | 182,500 | 325,000 | 65.52 | 2.98 | 142,500 | 30.83 | 3.68 |
| Equity Derivative | 0 | 0 | 0.00 | 0.00 | 0 | -0.42 | -0.05 |
| Derivatives Total | 0 | 0 | 0.00 | 0.00 | 0 | -0.42 | -0.05 |
| Capital & Regional PLC | 1,610,000 | 2,260,000 | 31.52 | 1.43 | 650,000 | 8.07 | 0.96 |
| Equities Total | 1,610,000 | 2,260,000 | 31.52 | 1.43 | 650,000 | 8.07 | 0.96 |
| Derwent London | 62,900 | 106,900 | 55.55 | 2.52 | 44,000 | 22.58 | 2.70 |
| EXOR S.p.A | 25,720 | 40,470 | 77.31 | 3.51 | 14,750 | 31.08 | 3.71 |
| Interactive Brokers Group | 10,000 | 18,500 | 41.39 | 1.88 | 8,500 | 17.97 | 2.14 |
| Financial Services Total | 98,620 | 165,870 | 174.25 | 7.91 | 67,250 | 71.63 | 8.55 |
| European - Currency | 0 | 0 | 1.76 | 0.08 | 0 | 0.22 | 0.03 |
| Hong Kong - Currency | 0 | 0 | 0.32 | 0.01 | 0 | 0.06 | 0.01 |
| Japan - Currency | 0 | 0 | 0.12 | 0.01 | 0 | 0.02 | 0.00 |
| Switzerland - Currency | 0 | 0 | 0.20 | 0.01 | 0 | 0.08 | 0.01 |
| United Kingdom - Currency | 0 | 0 | 9.73 | 0.44 | 0 | 0.41 | 0.05 |
| USA - Currency | 0 | 0 | 17.06 | 0.77 | 0 | 0.44 | 0.05 |
| For Currency Total | 0 | 0 | 29.19 | 1.33 | 0 | 1.22 | 0.15 |
| Foreign - Equities | -260 | 0 | 8.83 | 0.40 | 260 | 2.54 | 0.30 |
| Foreign Invest Total | -260 | 0 | 8.83 | 0.40 | 260 | 2.54 | 0.30 |
| NewRiver Retail Ltd | 724,675 | 1,224,675 | 21.93 | 1.00 | 500,000 | 9.33 | 1.11 |
| Unibail-Rodamco | 48,700 | 80,700 | 115.66 | 5.25 | 32,000 | 48.68 | 5.81 |
| Foreign Property Total | 773,375 | 1,305,375 | 137.58 | 6.25 | 532,000 | 58.01 | 6.92 |
| Lam Research Corporation | 1,550 | 2,700 | 51.92 | 2.36 | 1,150 | 21.10 | 2.52 |
| Goods & Services Total | 1,550 | 2,700 | 51.92 | 2.36 | 1,150 | 21.10 | 2.52 |
| Granate BCI Multi Income - C | 13,824,285 | 14,760,430 | 16.39 | 0.74 | 936,145 | 1.03 | 0.12 |
| Income Total | 13,824,285 | 14,760,430 | 16.39 | 0.74 | 936,145 | 1.03 | 0.12 |
| Afrimat Ltd. | 825,000 | 1,625,000 | 115.85 | 5.26 | 800,000 | 46.40 | 5.54 |
| Industrial Metals and Mining Total | 825,000 | 1,625,000 | 115.85 | 5.26 | 800,000 | 46.40 | 5.54 |
| Hudaco Industries Ltd. | 188,088 | 345,279 | 58.39 | 2.65 | 157,191 | 24.84 | 2.96 |
| Industrial Support Services Total | 188,088 | 345,279 | 58.39 | 2.65 | 157,191 | 24.84 | 2.96 |
| AIA Group Limited | 331,000 | 471,000 | 58.15 | 2.64 | 140,000 | 17.84 | 2.13 |
| Berkshire Hathaway Inc | 1,400 | 2,900 | 21.52 | 0.98 | 1,500 | 11.86 | 1.42 |
| Markel Corporation | 365 | 750 | 21.54 | 0.98 | 385 | 11.15 | 1.33 |
| Insurance Total | 332,765 | 474,650 | 101.22 | 4.60 | 141,885 | 40.86 | 4.88 |
| Money Market Instrument | 0 | 0 | 3.32 | 0.15 | 0 | 0.00 | 0.00 |
| Granate BCI Money Market - C | -14,704,998 | 83,506 | 0.08 | 0.00 | 14,788,504 | 14.91 | 1.78 |
| Money Market Total | -14,704,998 | 83,506 | 3.40 | 0.15 | 14,788,504 | 14.91 | 1.78 |
| OUTsurance Group Ltd. | 910,299 | 1,485,299 | 68.61 | 3.12 | 575,000 | 23.94 | 2.86 |
| Santam Ltd. | 25,000 | 41,000 | 13.21 | 0.60 | 16,000 | 4.77 | 0.57 |
| Non-life Insurance Total | 935,299 | 1,526,299 | 81.81 | 3.72 | 591,000 | 28.71 | 3.43 |
| Shoprite Holdings Ltd. | 172,750 | 289,000 | 82.16 | 3.73 | 116,250 | 29.03 | 3.47 |
| Personal Care, Drug and Grocery Stores Total | 172,750 | 289,000 | 82.16 | 3.73 | 116,250 | 29.03 | 3.47 |
| Growthpoint Properties Ltd. | 3,701,000 | 6,001,000 | 73.12 | 3.32 | 2,300,000 | 25.78 | 3.08 |
| SA Corporate Real Estate Ltd. | 13,528,000 | 24,278,000 | 62.88 | 2.86 | 10,750,000 | 26.98 | 3.22 |
| Real Estate Investment Trusts Total | 17,229,000 | 30,279,000 | 136.00 | 6.18 | 13,050,000 | 52.77 | 6.30 |
| CA Sales Holdings Ltd. | 2,248,800 | 3,848,800 | 47.92 | 2.18 | 1,600,000 | 18.56 | 2.22 |
| KAL Group Ltd. | 570,000 | 1,170,000 | 56.05 | 2.55 | 600,000 | 24.59 | 2.94 |
| Mr Price Group Ltd. | 228,500 | 306,000 | 62.54 | 2.84 | 77,500 | 13.48 | 1.61 |
| Retailers Total | 3,047,300 | 5,324,800 | 166.52 | 7.56 | 2,277,500 | 56.63 | 6.76 |
| Applied Materials Incorporated | 7,050 | 13,300 | 56.26 | 2.55 | 6,250 | 24.66 | 2.94 |
| Micron Technology | -3,100 | 6,500 | 15.64 | 0.71 | 9,600 | 21.73 | 2.59 |
| Microsoft Corporation | 1,100 | 2,600 | 21.42 | 0.97 | 1,500 | 11.99 | 1.43 |
| Taiwan Semiconductors | 21,600 | 40,350 | 126.26 | 5.73 | 18,750 | 48.77 | 5.82 |
| Tokyo Electron Ltd | 400 | 1,000 | 3.96 | 0.18 | 600 | 2.97 | 0.35 |
| Technology Total | 27,050 | 63,750 | 223.53 | 10.15 | 36,700 | 110.13 | 13.14 |
| British American Tobacco plc | 57,000 | 93,000 | 53.38 | 2.42 | 36,000 | 21.24 | 2.54 |
| Tobacco Total | 57,000 | 93,000 | 53.38 | 2.42 | 36,000 | 21.24 | 2.54 |
| Portfolio Total | 213,219,124 | 352,452,801 | 2,202.03 | 100.00 | 139,233,677 | 837.83 | 100.00 |