| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | 6,343 | 34,374 | 106.65 | 1.92 | 28,031 | 87.86 | 1.61 |
| Capricorn Group Ltd. | 236,801 | 2,777,276 | 59.04 | 1.06 | 2,540,475 | 52.28 | 0.96 |
| FirstRand Ltd. | 274,245 | 1,358,827 | 97.62 | 1.76 | 1,084,582 | 82.38 | 1.51 |
| FirstRand Namibia Ltd. | -392,364 | 3,099,983 | 145.42 | 2.62 | 3,492,347 | 162.39 | 2.98 |
| Investec Ltd. | -68,157 | 330,595 | 37.68 | 0.68 | 398,752 | 49.86 | 0.92 |
| Nedbank Group Ltd. | -759 | 229,765 | 59.11 | 1.06 | 230,524 | 64.94 | 1.19 |
| SBN Holdings Ltd. | 0 | 652,853 | 6.54 | 0.12 | 652,853 | 5.93 | 0.11 |
| Standard Bank Group Ltd. | 57,827 | 378,147 | 90.53 | 1.63 | 320,320 | 71.03 | 1.31 |
| Banks Total | 113,936 | 8,861,820 | 602.59 | 10.86 | 8,747,884 | 576.68 | 10.60 |
| Namibia Breweries Ltd. | 0 | 2,209,249 | 63.96 | 1.15 | 2,209,249 | 63.87 | 1.17 |
| Beverages Total | 0 | 2,209,249 | 63.96 | 1.15 | 2,209,249 | 63.87 | 1.17 |
| SA Bond NAM04 | 0 | 3,750,000 | 3.85 | 0.07 | 3,750,000 | 3.96 | 0.07 |
| Bond Total | 0 | 3,750,000 | 3.85 | 0.07 | 3,750,000 | 3.96 | 0.07 |
| Cash on call | 0 | 0 | -39.27 | -0.71 | 0 | -5.30 | -0.10 |
| Margin Account | 0 | 0 | 45.78 | 0.82 | 0 | 45.95 | 0.84 |
| Namibia Cash | 0 | 0 | 621.47 | 11.20 | 0 | 589.39 | 10.83 |
| Cash on call Total | 0 | 0 | 627.99 | 11.31 | 0 | 630.05 | 11.58 |
| Alpha Namibia Industries Renewable Energy Power | 0 | 579,035 | 5.21 | 0.09 | 579,035 | 5.21 | 0.10 |
| Electricity Total | 0 | 579,035 | 5.21 | 0.09 | 579,035 | 5.21 | 0.10 |
| NewGold | 145,164 | 145,164 | 77.20 | 1.39 | 0 | 0.00 | 0.00 |
| Exchange Traded Funds Total | 145,164 | 145,164 | 77.20 | 1.39 | 0 | 0.00 | 0.00 |
| Foreign - Money Market | 0 | 0 | 99.84 | 1.80 | 0 | 101.03 | 1.86 |
| USA - Currency | 0 | 0 | 0.39 | 0.01 | 0 | 0.00 | 0.00 |
| For Currency Total | 0 | 0 | 100.23 | 1.81 | 0 | 101.03 | 1.86 |
| Foreign - Bonds | 0 | 0 | 1,049.58 | 18.91 | 0 | 1,054.26 | 19.37 |
| Foreign - Unit Trusts | 0 | 0 | 1,765.67 | 31.81 | 0 | 1,830.55 | 33.63 |
| Foreign Invest Total | 0 | 0 | 2,815.26 | 50.72 | 0 | 2,884.81 | 53.00 |
| Ninety One Namibia High Income Fund | 464,477 | 20,695,546 | 23.80 | 0.43 | 20,231,069 | 23.30 | 0.43 |
| Income Total | 464,477 | 20,695,546 | 23.80 | 0.43 | 20,231,069 | 23.30 | 0.43 |
| Sappi Ltd. | -1,248 | 110,826 | 4.01 | 0.07 | 112,074 | 5.52 | 0.10 |
| Industrial Materials Total | -1,248 | 110,826 | 4.01 | 0.07 | 112,074 | 5.52 | 0.10 |
| Anglo American plc | -23,816 | 95,470 | 48.78 | 0.88 | 119,286 | 65.83 | 1.21 |
| Glencore plc | -471,926 | 0 | 0.00 | 0.00 | 471,926 | 39.42 | 0.72 |
| South32 Ltd. | 0 | 169,164 | 6.27 | 0.11 | 169,164 | 6.75 | 0.12 |
| Industrial Metals and Mining Total | -495,742 | 264,634 | 55.05 | 0.99 | 760,376 | 111.99 | 2.06 |
| Discovery Ltd. | 0 | 387,230 | 77.25 | 1.39 | 387,230 | 75.42 | 1.39 |
| Sanlam Ltd. | 0 | 1,040,771 | 86.12 | 1.55 | 1,040,771 | 90.42 | 1.66 |
| Life Insurance Total | 0 | 1,428,001 | 163.38 | 2.94 | 1,428,001 | 165.84 | 3.05 |
| Bid Corporation Ltd. | -39,114 | 0 | 0.00 | 0.00 | 39,114 | 16.84 | 0.31 |
| Personal Care, Drug and Grocery Stores Total | -39,114 | 0 | 0.00 | 0.00 | 39,114 | 16.84 | 0.31 |
| Compagnie Financière Richemont SA | 7,679 | 15,444 | 48.95 | 0.88 | 7,765 | 21.55 | 0.40 |
| Personal Goods Total | 7,679 | 15,444 | 48.95 | 0.88 | 7,765 | 21.55 | 0.40 |
| AngloGold Ashanti plc | -12,911 | 157,855 | 108.42 | 1.95 | 170,766 | 71.89 | 1.32 |
| Harmony Gold Mining Company Ltd. | 228,213 | 313,132 | 83.45 | 1.50 | 84,919 | 12.80 | 0.24 |
| Impala Platinum Holdings Ltd. | 230,454 | 230,454 | 29.02 | 0.52 | 0 | 0.00 | 0.00 |
| Precious Metals and Mining Total | 445,756 | 701,441 | 220.88 | 3.98 | 255,685 | 84.69 | 1.56 |
| Investec Property Equity - Z | 1,074,063 | 35,266,095 | 116.42 | 2.10 | 34,192,032 | 122.37 | 2.25 |
| Property Total | 1,074,063 | 35,266,095 | 116.42 | 2.10 | 34,192,032 | 122.37 | 2.25 |
| Oryx Property Ltd Namibia | 0 | 1,469,494 | 19.62 | 0.35 | 1,469,494 | 18.82 | 0.35 |
| Real Estate Total | 0 | 1,469,494 | 19.62 | 0.35 | 1,469,494 | 18.82 | 0.35 |
| Mr Price Group Ltd. | -19,773 | 317,206 | 70.29 | 1.27 | 336,979 | 99.49 | 1.83 |
| The Foschini Group Ltd. | 0 | 211,216 | 26.26 | 0.47 | 211,216 | 35.48 | 0.65 |
| Truworths International Ltd. | -260,932 | 426,881 | 30.72 | 0.55 | 687,813 | 71.26 | 1.31 |
| Retailers Total | -280,705 | 955,303 | 127.27 | 2.29 | 1,236,008 | 206.24 | 3.79 |
| Naspers Ltd. | 0 | 44,825 | 202.52 | 3.65 | 44,825 | 187.06 | 3.44 |
| Prosus NV | 0 | 45,737 | 38.49 | 0.69 | 45,737 | 34.26 | 0.63 |
| Software and Computer Services Total | 0 | 90,562 | 241.01 | 4.34 | 90,562 | 221.32 | 4.07 |
| Mobile Telecommunications Ltd. | 15,984 | 6,099,058 | 50.32 | 0.91 | 6,083,074 | 46.11 | 0.85 |
| MTN Group Ltd. | 185,898 | 685,988 | 84.53 | 1.52 | 500,090 | 46.00 | 0.85 |
| Paratus Namibia Holdings Ltd. | 322,728 | 1,874,765 | 23.72 | 0.43 | 1,552,037 | 19.62 | 0.36 |
| Telecommunications Service Providers Total | 524,610 | 8,659,811 | 158.57 | 2.86 | 8,135,201 | 111.73 | 2.05 |
| British American Tobacco plc | 847 | 100,153 | 75.58 | 1.36 | 99,306 | 67.19 | 1.23 |
| Tobacco Total | 847 | 100,153 | 75.58 | 1.36 | 99,306 | 67.19 | 1.23 |
| Portfolio Total | 1,959,723 | 85,302,578 | 5,550.81 | 100.00 | 83,342,855 | 5,443.00 | 100.00 |