| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | -15,200 | 55,000 | 228.57 | 5.01 | 70,200 | 243.61 | 5.73 |
| Nedbank Group Ltd. | -85,000 | 600,000 | 159.76 | 3.50 | 685,000 | 146.62 | 3.45 |
| Standard Bank Group Ltd. | 100,000 | 1,100,000 | 319.44 | 7.00 | 1,000,000 | 236.26 | 5.56 |
| Nu Holdings Ltd | 0 | 40,000 | 11.17 | 0.24 | 40,000 | 11.03 | 0.26 |
| Banks Total | -200 | 1,795,000 | 718.93 | 15.74 | 1,795,200 | 637.52 | 15.01 |
| EOG Resources | 0 | 10,000 | 17.47 | 0.38 | 10,000 | 19.59 | 0.46 |
| Basic Resources Total | 0 | 10,000 | 17.47 | 0.38 | 10,000 | 19.59 | 0.46 |
| SA Bond EL29 | 0 | 3,000,000 | 5.11 | 0.11 | 3,000,000 | 5.06 | 0.12 |
| SA Bond EL30 | 0 | 3,000,000 | 4.90 | 0.11 | 3,000,000 | 4.80 | 0.11 |
| SA Bond EL31 | 0 | 700,000 | 1.06 | 0.02 | 700,000 | 1.02 | 0.02 |
| SA Bond ES33 | 0 | 2,893,000 | 2.77 | 0.06 | 2,893,000 | 2.56 | 0.06 |
| SA Bond FRBI33 | 0 | 4,700,000 | 13.33 | 0.29 | 4,700,000 | 12.77 | 0.30 |
| SA Bond FRC501 | 0 | 2,000,000 | 2.93 | 0.06 | 2,000,000 | 2.68 | 0.06 |
| SA Bond FRS137 | 0 | 450,000 | 1.14 | 0.03 | 450,000 | 1.12 | 0.03 |
| SA Bond I2033 | 0 | 24,500,000 | 34.68 | 0.76 | 24,500,000 | 32.84 | 0.77 |
| SA Bond I2038 | 0 | 6,000,000 | 9.49 | 0.21 | 6,000,000 | 8.69 | 0.20 |
| SA Bond R186 | -35,600,000 | 0 | 0.00 | 0.00 | 35,600,000 | 37.88 | 0.89 |
| SA Bond R2030 | 0 | 1,250,000 | 1.32 | 0.03 | 1,250,000 | 1.27 | 0.03 |
| SA Bond R2032 | -18,400,000 | 8,460,000 | 8.86 | 0.19 | 26,860,000 | 26.52 | 0.62 |
| SA Bond R2035 | -12,000,000 | 76,600,000 | 82.21 | 1.80 | 88,600,000 | 87.77 | 2.07 |
| SA Bond R2037 | -12,200,000 | 69,900,000 | 72.01 | 1.58 | 82,100,000 | 76.86 | 1.81 |
| SA Bond R2038 | 0 | 3,000,000 | 3.57 | 0.08 | 3,000,000 | 3.26 | 0.08 |
| SA Bond R2040 | -1,000,000 | 55,000,000 | 57.30 | 1.26 | 56,000,000 | 52.18 | 1.23 |
| SA Bond R2044 | -1,000,000 | 78,350,000 | 78.30 | 1.72 | 79,350,000 | 70.34 | 1.66 |
| SA Bond R2048 | 0 | 7,300,000 | 7.26 | 0.16 | 7,300,000 | 6.37 | 0.15 |
| SA Bond R209 | 0 | 23,000,000 | 20.03 | 0.44 | 23,000,000 | 18.28 | 0.43 |
| SA Bond R213 | -4,000,000 | 44,400,000 | 44.48 | 0.97 | 48,400,000 | 46.24 | 1.09 |
| SA Bond R214 | 0 | 41,750,000 | 34.14 | 0.75 | 41,750,000 | 30.50 | 0.72 |
| SA Bond SBSI14 | 0 | 1,466,442 | 4.16 | 0.09 | 1,466,442 | 3.99 | 0.09 |
| SA Bond TN30 | 0 | 1,500,000 | 1.67 | 0.04 | 1,500,000 | 1.66 | 0.04 |
| Bond Total | -84,200,000 | 459,219,442 | 490.72 | 10.75 | 543,419,442 | 534.67 | 12.59 |
| Cash on call | 0 | 0 | 13.69 | 0.30 | 0 | 37.88 | 0.89 |
| Margin Account | 60,581,681 | 60,581,681 | 63.00 | 1.38 | 0 | 37.66 | 0.89 |
| Cash on call Total | 60,581,681 | 60,581,681 | 76.70 | 1.68 | 0 | 75.54 | 1.78 |
| Lowes Companies | -850 | 6,500 | 26.14 | 0.57 | 7,350 | 32.18 | 0.76 |
| Construction Total | -850 | 6,500 | 26.14 | 0.57 | 7,350 | 32.18 | 0.76 |
| ADvTECH Ltd. | 750,000 | 750,000 | 27.92 | 0.61 | 0 | 0.00 | 0.00 |
| Stadio Holdings Ltd. | 1,928,846 | 2,425,000 | 32.25 | 0.71 | 496,154 | 5.21 | 0.12 |
| Consumer Services Total | 2,678,846 | 3,175,000 | 60.18 | 1.32 | 496,154 | 5.21 | 0.12 |
| Howden Joinery Group PLC | -45,000 | 400,000 | 74.17 | 1.62 | 445,000 | 87.16 | 2.05 |
| Tencent Holdings Ltd | 40,000 | 40,000 | 50.91 | 1.12 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | -5,000 | 440,000 | 125.08 | 2.74 | 445,000 | 87.16 | 2.05 |
| Equity Derivative | 0 | 0 | 22.46 | 0.49 | 0 | 20.09 | 0.47 |
| Derivatives Total | 0 | 0 | 22.46 | 0.49 | 0 | 20.09 | 0.47 |
| Keyence Corporation | 0 | 4,000 | 23.94 | 0.52 | 4,000 | 25.85 | 0.61 |
| Equities Total | 0 | 4,000 | 23.94 | 0.52 | 4,000 | 25.85 | 0.61 |
| Derwent London | 40,500 | 300,000 | 116.20 | 2.55 | 259,500 | 106.33 | 2.50 |
| EXOR S.p.A | 11,000 | 67,500 | 95.08 | 2.08 | 56,500 | 95.48 | 2.25 |
| Interactive Brokers Group | 7,500 | 160,000 | 172.00 | 3.77 | 152,500 | 181.33 | 4.27 |
| Mastercard Inc | 0 | 1,400 | 13.37 | 0.29 | 1,400 | 13.75 | 0.32 |
| Mercadolibre Inc | 950 | 1,950 | 65.17 | 1.43 | 1,000 | 43.23 | 1.02 |
| Financial Services Total | 59,950 | 530,850 | 461.82 | 10.12 | 470,900 | 440.11 | 10.36 |
| European - Currency | 0 | 0 | 0.02 | 0.00 | 0 | 0.17 | 0.00 |
| Foreign - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.03 | 0.00 |
| Hong Kong - Currency | 0 | 0 | 0.01 | 0.00 | 0 | 1.79 | 0.04 |
| Japan - Currency | 0 | 0 | 0.61 | 0.01 | 0 | 0.08 | 0.00 |
| Switzerland - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.05 | 0.00 | 0 | 0.01 | 0.00 |
| USA - Currency | 0 | 0 | 0.05 | 0.00 | 0 | 0.23 | 0.01 |
| For Currency Total | 0 | 0 | 0.75 | 0.02 | 0 | 2.31 | 0.05 |
| Foreign - Equities | 0 | 0 | 132.81 | 2.91 | 0 | 111.32 | 2.62 |
| Foreign Invest Total | 0 | 0 | 132.81 | 2.91 | 0 | 111.32 | 2.62 |
| British Land Company | 190,000 | 400,000 | 36.94 | 0.81 | 210,000 | 16.90 | 0.40 |
| NewRiver Retail Ltd | -2,910,000 | 0 | 0.00 | 0.00 | 2,910,000 | 48.68 | 1.15 |
| Unibail-Rodamco | 2,000 | 130,000 | 234.46 | 5.14 | 128,000 | 231.37 | 5.45 |
| Foreign Property Total | -2,718,000 | 530,000 | 271.39 | 5.94 | 3,248,000 | 296.95 | 6.99 |
| ASML Holding NV | -300 | 3,700 | 66.15 | 1.45 | 4,000 | 67.02 | 1.58 |
| Lam Research Corporation | -33,500 | 34,000 | 97.82 | 2.14 | 67,500 | 153.15 | 3.61 |
| Goods & Services Total | -33,800 | 37,700 | 163.97 | 3.59 | 71,500 | 220.17 | 5.18 |
| African Rainbow Minerals Ltd. | 316,491 | 453,991 | 90.30 | 1.98 | 137,500 | 25.50 | 0.60 |
| Afrimat Ltd. | 225,000 | 3,150,000 | 129.69 | 2.84 | 2,925,000 | 111.65 | 2.63 |
| Industrial Metals and Mining Total | 541,491 | 3,603,991 | 219.98 | 4.82 | 3,062,500 | 137.14 | 3.23 |
| Hudaco Industries Ltd. | 0 | 487,500 | 99.94 | 2.19 | 487,500 | 84.83 | 2.00 |
| Industrial Support Services Total | 0 | 487,500 | 99.94 | 2.19 | 487,500 | 84.83 | 2.00 |
| AIA Group Limited | -75,000 | 825,000 | 140.05 | 3.07 | 900,000 | 149.22 | 3.51 |
| Insurance Total | -75,000 | 825,000 | 140.05 | 3.07 | 900,000 | 149.22 | 3.51 |
| JSE Ltd. | 0 | 130,000 | 18.65 | 0.41 | 130,000 | 16.60 | 0.39 |
| Investment Banking and Brokerage Services Total | 0 | 130,000 | 18.65 | 0.41 | 130,000 | 16.60 | 0.39 |
| Money Market Instrument | 0 | 0 | 0.00 | 0.00 | 0 | 10.76 | 0.25 |
| Granate BCI Money Market - C | 1,702 | 94,255 | 0.09 | 0.00 | 92,553 | 0.09 | 0.00 |
| Money Market Total | 1,702 | 94,255 | 0.09 | 0.00 | 92,553 | 10.85 | 0.26 |
| OUTsurance Group Ltd. | 60,000 | 2,420,000 | 173.42 | 3.80 | 2,360,000 | 168.60 | 3.97 |
| Santam Ltd. | 0 | 295,000 | 126.10 | 2.76 | 295,000 | 111.30 | 2.62 |
| Non-life Insurance Total | 60,000 | 2,715,000 | 299.51 | 6.56 | 2,655,000 | 279.90 | 6.59 |
| Shoprite Holdings Ltd. | -6,500 | 345,000 | 93.23 | 2.04 | 351,500 | 96.35 | 2.27 |
| Personal Care, Drug and Grocery Stores Total | -6,500 | 345,000 | 93.23 | 2.04 | 351,500 | 96.35 | 2.27 |
| Northam Platinum Holdings Ltd. | 180,000 | 180,000 | 60.68 | 1.33 | 0 | 0.00 | 0.00 |
| Valterra Platinum Ltd. | 48,000 | 48,000 | 67.66 | 1.48 | 0 | 0.00 | 0.00 |
| Precious Metals and Mining Total | 228,000 | 228,000 | 128.34 | 2.81 | 0 | 0.00 | 0.00 |
| Hyprop Investments Ltd. | 1,300,000 | 1,300,000 | 74.13 | 1.62 | 0 | 0.00 | 0.00 |
| SA Corporate Real Estate Ltd. | -18,000,000 | 17,000,000 | 61.20 | 1.34 | 35,000,000 | 108.50 | 2.55 |
| Real Estate Investment Trusts Total | -16,700,000 | 18,300,000 | 135.33 | 2.96 | 35,000,000 | 108.50 | 2.55 |
| Shopify | 8,250 | 30,000 | 81.24 | 1.78 | 21,750 | 56.01 | 1.32 |
| Retail Total | 8,250 | 30,000 | 81.24 | 1.78 | 21,750 | 56.01 | 1.32 |
| CA Sales Holdings Ltd. | 0 | 5,045,000 | 74.87 | 1.64 | 5,045,000 | 86.82 | 2.04 |
| KAL Group Ltd. | 150,000 | 2,775,000 | 138.75 | 3.04 | 2,625,000 | 109.20 | 2.57 |
| Mr Price Group Ltd. | -217,000 | 240,000 | 42.00 | 0.92 | 457,000 | 93.38 | 2.20 |
| Retailers Total | -67,000 | 8,060,000 | 255.61 | 5.60 | 8,127,000 | 289.40 | 6.81 |
| Applied Materials Incorporated | -13,750 | 16,250 | 69.87 | 1.53 | 30,000 | 106.26 | 2.50 |
| Microsoft Corporation | 650 | 6,450 | 52.00 | 1.14 | 5,800 | 51.58 | 1.21 |
| Taiwan Semiconductors | -3,500 | 60,500 | 300.40 | 6.58 | 64,000 | 302.94 | 7.13 |
| Tokyo Electron Ltd | 0 | 16,000 | 57.99 | 1.27 | 16,000 | 49.65 | 1.17 |
| Technology Total | -16,600 | 99,200 | 480.25 | 10.52 | 115,800 | 510.43 | 12.02 |
| Spur Corporation Ltd. | 543,944 | 543,944 | 20.81 | 0.46 | 0 | 0.00 | 0.00 |
| Travel and Leisure Total | 543,944 | 543,944 | 20.81 | 0.46 | 0 | 0.00 | 0.00 |
| Portfolio Total | -39,119,086 | 561,792,063 | 4,565.40 | 100.00 | 600,911,149 | 4,247.91 | 100.00 |