| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -2,878 | 151,085 | 36.16 | 0.84 | 153,963 | 27.88 | 0.68 |
| Capitec Bank Holdings Ltd. | -324 | 15,678 | 65.15 | 1.50 | 16,002 | 55.59 | 1.35 |
| FirstRand Ltd. | -17,774 | 927,618 | 84.18 | 1.94 | 945,392 | 73.42 | 1.78 |
| Investec plc | -4,507 | 107,893 | 13.18 | 0.30 | 112,400 | 14.40 | 0.35 |
| Nedbank Group Ltd. | -1,395 | 83,045 | 22.11 | 0.51 | 84,440 | 18.03 | 0.44 |
| Standard Bank Group Ltd. | -4,665 | 239,440 | 69.53 | 1.61 | 244,105 | 57.70 | 1.40 |
| Banks Total | -31,543 | 1,524,759 | 290.33 | 6.70 | 1,556,302 | 247.02 | 6.00 |
| Anheuser-Busch InBev SA/NV | 777 | 17,025 | 18.23 | 0.42 | 16,248 | 16.68 | 0.41 |
| Beverages Total | 777 | 17,025 | 18.23 | 0.42 | 16,248 | 16.68 | 0.41 |
| Cash on call | 0 | 0 | 125.24 | 2.89 | 0 | 184.05 | 4.47 |
| Margin Account | 3,879,920 | 3,879,920 | 3.90 | 0.09 | 0 | 12.00 | 0.29 |
| Cash on call Total | 3,879,920 | 3,879,920 | 129.14 | 2.98 | 0 | 196.05 | 4.76 |
| Sasol Ltd. | -2,757 | 106,507 | 11.31 | 0.26 | 109,264 | 11.74 | 0.29 |
| Chemicals Total | -2,757 | 106,507 | 11.31 | 0.26 | 109,264 | 11.74 | 0.29 |
| iShares Core MSCI Emerging Markets IMI UCITS ETF | 0 | 307,746 | 230.36 | 5.32 | 307,746 | 229.33 | 5.57 |
| Vangaurd FTSE All World ETF | 7,500 | 272,959 | 753.95 | 17.41 | 265,459 | 735.56 | 17.86 |
| Xtrackers MSCI World ex USA UCITS ETF | 379,200 | 379,200 | 259.06 | 5.98 | 0 | 0.00 | 0.00 |
| Xtrackers MSCI World UCITS ETF | -144,500 | 0 | 0.00 | 0.00 | 144,500 | 97.02 | 2.36 |
| Equities Total | 242,200 | 959,905 | 1,243.36 | 28.71 | 717,705 | 1,061.91 | 25.79 |
| European - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| USA - Currency | 0 | 0 | 79.16 | 1.83 | 0 | 72.12 | 1.75 |
| For Currency Total | 0 | 0 | 79.16 | 1.83 | 0 | 72.12 | 1.75 |
| iShares Developed Markets Property Yield UCITS ETF | -61,000 | 0 | 0.00 | 0.00 | 61,000 | 25.63 | 0.62 |
| Foreign Property Total | -61,000 | 0 | 0.00 | 0.00 | 61,000 | 25.63 | 0.62 |
| Mondi plc | -1,449 | 33,664 | 6.85 | 0.16 | 35,113 | 8.27 | 0.20 |
| The Bidvest Group Ltd. | -1,059 | 62,069 | 14.74 | 0.34 | 63,128 | 13.37 | 0.32 |
| General Industrials Total | -2,508 | 95,733 | 21.59 | 0.50 | 98,241 | 21.65 | 0.53 |
| Anglo American plc | -5,427 | 53,960 | 36.97 | 0.85 | 59,387 | 38.39 | 0.93 |
| BHP Group Ltd. | -2,083 | 26,366 | 13.37 | 0.31 | 28,449 | 13.56 | 0.33 |
| Glencore plc | 21,409 | 180,550 | 16.46 | 0.38 | 159,141 | 12.68 | 0.31 |
| Industrial Metals and Mining Total | 13,899 | 260,876 | 66.80 | 1.54 | 246,977 | 64.64 | 1.57 |
| Reinet Investments SCA | -398 | 24,364 | 14.13 | 0.33 | 24,762 | 12.50 | 0.30 |
| Remgro Ltd. | -1,231 | 91,116 | 16.55 | 0.38 | 92,347 | 15.49 | 0.38 |
| Investment Banking and Brokerage Services Total | -1,629 | 115,480 | 30.68 | 0.71 | 117,109 | 27.99 | 0.68 |
| Discovery Ltd. | -1,507 | 98,024 | 22.31 | 0.52 | 99,531 | 19.61 | 0.48 |
| Old Mutual Ltd. | -14,559 | 746,347 | 11.12 | 0.26 | 760,906 | 10.16 | 0.25 |
| Sanlam Ltd. | -6,350 | 319,543 | 31.47 | 0.73 | 325,893 | 27.24 | 0.66 |
| Life Insurance Total | -22,416 | 1,163,914 | 64.90 | 1.50 | 1,186,330 | 57.01 | 1.38 |
| eMedia Holdings Ltd. | -38,752 | 0 | 0.00 | 0.00 | 38,752 | 0.07 | 0.00 |
| Media Total | -38,752 | 0 | 0.00 | 0.00 | 38,752 | 0.07 | 0.00 |
| OUTsurance Group Ltd. | -2,339 | 155,742 | 11.16 | 0.26 | 158,081 | 11.33 | 0.28 |
| Non-life Insurance Total | -2,339 | 155,742 | 11.16 | 0.26 | 158,081 | 11.33 | 0.28 |
| iShares Core MSCI World UCITS ETF | 0 | 330,424 | 718.70 | 16.59 | 330,424 | 717.19 | 17.42 |
| iShares World Equity Index - A2 | 0 | 106,964 | 716.87 | 16.55 | 106,964 | 717.43 | 17.42 |
| Peregrine US Managed Volatility Equity | 0 | 31,905 | 110.66 | 2.56 | 31,905 | 112.72 | 2.74 |
| Peregrine USD Short Duration Fund | 10,274 | 10,274 | 20.04 | 0.46 | 0 | 0.00 | 0.00 |
| Offshore Intern Total | 10,274 | 479,567 | 1,566.27 | 36.16 | 469,293 | 1,547.34 | 37.58 |
| Bid Corporation Ltd. | -1,225 | 61,118 | 25.78 | 0.60 | 62,343 | 26.95 | 0.65 |
| Clicks Group Ltd. | -1,154 | 42,741 | 14.39 | 0.33 | 43,895 | 15.47 | 0.38 |
| Shoprite Holdings Ltd. | -1,900 | 85,885 | 23.21 | 0.54 | 87,785 | 24.05 | 0.58 |
| Personal Care, Drug and Grocery Stores Total | -4,279 | 189,744 | 63.38 | 1.46 | 194,023 | 66.47 | 1.61 |
| Compagnie Financière Richemont SA | -143 | 8,581 | 31.12 | 0.72 | 8,724 | 28.52 | 0.69 |
| Personal Goods Total | -143 | 8,581 | 31.12 | 0.72 | 8,724 | 28.52 | 0.69 |
| AngloGold Ashanti plc | -2,359 | 63,523 | 91.04 | 2.10 | 65,882 | 79.95 | 1.94 |
| Gold Fields Ltd. | -2,915 | 161,283 | 117.04 | 2.70 | 164,198 | 119.72 | 2.91 |
| Harmony Gold Mining Company Ltd. | -1,984 | 99,750 | 33.62 | 0.78 | 101,734 | 32.03 | 0.78 |
| Impala Platinum Holdings Ltd. | -2,489 | 142,682 | 37.38 | 0.86 | 145,171 | 32.02 | 0.78 |
| Northam Platinum Holdings Ltd. | -1,550 | 64,332 | 21.69 | 0.50 | 65,882 | 18.51 | 0.45 |
| Sibanye Stillwater Ltd. | -10,719 | 510,516 | 30.89 | 0.71 | 521,235 | 25.69 | 0.62 |
| Valterra Platinum Ltd. | 2,107 | 42,673 | 60.15 | 1.39 | 40,566 | 50.11 | 1.22 |
| Precious Metals and Mining Total | -19,909 | 1,084,759 | 391.81 | 9.05 | 1,104,668 | 358.03 | 8.69 |
| NEPI Rockcastle NV | -1,350 | 108,113 | 15.77 | 0.36 | 109,463 | 15.14 | 0.37 |
| Real Estate Investment and Services Total | -1,350 | 108,113 | 15.77 | 0.36 | 109,463 | 15.14 | 0.37 |
| Growthpoint Properties Ltd. | -7,864 | 618,082 | 10.61 | 0.24 | 625,946 | 9.22 | 0.22 |
| Real Estate Investment Trusts Total | -7,864 | 618,082 | 10.61 | 0.24 | 625,946 | 9.22 | 0.22 |
| Mr Price Group Ltd. | -1,026 | 45,739 | 8.00 | 0.18 | 46,765 | 9.53 | 0.23 |
| Pepkor Holdings Ltd. | -16,310 | 670,494 | 17.73 | 0.41 | 686,804 | 16.70 | 0.41 |
| Woolworths Holdings Ltd. | -880 | 165,188 | 9.25 | 0.21 | 166,068 | 8.35 | 0.20 |
| Retailers Total | -18,216 | 881,421 | 34.99 | 0.81 | 899,637 | 34.57 | 0.84 |
| Naspers Ltd. | 89,449 | 107,494 | 118.73 | 2.74 | 18,045 | 112.87 | 2.74 |
| Prosus NV | 2,485 | 33,266 | 34.05 | 0.79 | 30,781 | 37.27 | 0.91 |
| Software and Computer Services Total | 91,934 | 140,760 | 152.78 | 3.53 | 48,826 | 150.13 | 3.65 |
| MTN Group Ltd. | -6,008 | 320,941 | 54.40 | 1.26 | 326,949 | 47.41 | 1.15 |
| Vodacom Group Ltd. | -2,571 | 108,372 | 15.31 | 0.35 | 110,943 | 14.79 | 0.36 |
| Telecommunications Service Providers Total | -8,579 | 429,313 | 69.71 | 1.61 | 437,892 | 62.20 | 1.51 |
| British American Tobacco plc | -6,349 | 29,436 | 28.11 | 0.65 | 35,785 | 32.64 | 0.79 |
| Tobacco Total | -6,349 | 29,436 | 28.11 | 0.65 | 35,785 | 32.64 | 0.79 |
| Phumelela Gaming and Leisure Ltd. | 0 | 159,176 | 0.00 | 0.00 | 159,176 | 0.00 | 0.00 |
| Travel & Leisure Total | 0 | 159,176 | 0.00 | 0.00 | 159,176 | 0.00 | 0.00 |
| Portfolio Total | 4,009,371 | 12,408,813 | 4,331.19 | 100.00 | 8,399,442 | 4,118.11 | 100.00 |