| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Bayerische Motoren Werke AG | 0 | 65,000 | 111.64 | 1.75 | 65,000 | 142.22 | 2.49 |
| Brilliance China Automotive Holdings Limited | -700,000 | 6,600,000 | 126.23 | 1.98 | 7,300,000 | 95.57 | 1.67 |
| Auto Total | -700,000 | 6,665,000 | 237.87 | 3.73 | 7,365,000 | 237.79 | 4.16 |
| Absa Group Ltd. | 0 | 1,642,400 | 261.42 | 4.10 | 1,642,400 | 242.76 | 4.25 |
| FirstRand Ltd. | 0 | 2,141,600 | 162.78 | 2.55 | 2,141,600 | 137.04 | 2.40 |
| Sberbank | 1,636,000 | 1,636,000 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Banks Total | 1,636,000 | 5,420,000 | 424.20 | 6.65 | 3,784,000 | 379.80 | 6.64 |
| SA Bond R2030 | 0 | 146,333,976 | 139.17 | 2.18 | 146,333,976 | 131.82 | 2.31 |
| SA Bond R2032 | 0 | 150,029,481 | 134.28 | 2.10 | 150,029,481 | 125.21 | 2.19 |
| SA Bond R2035 | 72,500,000 | 293,100,000 | 257.44 | 4.04 | 220,600,000 | 177.47 | 3.11 |
| Bond Total | 72,500,000 | 589,463,457 | 530.90 | 8.32 | 516,963,457 | 434.51 | 7.60 |
| Fidelity Institutional Liquidity Fund (EUR) | 212 | 440 | 123.24 | 1.93 | 228 | 66.41 | 1.16 |
| Fidelity Institutional Liquidity Fund (GBP) | -33 | 84 | 44.24 | 0.69 | 117 | 63.33 | 1.11 |
| Fidelity Institutional Liquidity Fund (USD) | 620 | 1,333 | 483.09 | 7.57 | 713 | 266.10 | 4.66 |
| Cash Total | 799 | 1,857 | 650.57 | 10.20 | 1,058 | 395.83 | 6.93 |
| Cash on call | 0 | 0 | 61.49 | 0.96 | 0 | 168.88 | 2.95 |
| Margin Account | -4,198,650 | 0 | 0.00 | 0.00 | 4,198,650 | 4.23 | 0.07 |
| Cash on call Total | -4,198,650 | 0 | 61.49 | 0.96 | 4,198,650 | 173.11 | 3.03 |
| Sasol Ltd. | 696,000 | 1,180,000 | 163.25 | 2.56 | 484,000 | 70.31 | 1.23 |
| Chemicals Total | 696,000 | 1,180,000 | 163.25 | 2.56 | 484,000 | 70.31 | 1.23 |
| PPC Ltd. | 539,915 | 35,972,792 | 118.35 | 1.85 | 35,432,877 | 118.70 | 2.08 |
| Wilson Bayly Holmes - Ovcon Ltd. | 0 | 937,400 | 151.48 | 2.37 | 937,400 | 127.63 | 2.23 |
| Construction and Materials Total | 539,915 | 36,910,192 | 269.83 | 4.23 | 36,370,277 | 246.33 | 4.31 |
| Flutter Entertainment | 5,200 | 56,800 | 189.40 | 2.97 | 51,600 | 199.48 | 3.49 |
| Koninklijke Philips N.V. | 52,983 | 392,983 | 181.36 | 2.84 | 340,000 | 130.70 | 2.29 |
| Cyclical Goods & Services Total | 58,183 | 449,783 | 370.76 | 5.81 | 391,600 | 330.18 | 5.78 |
| Equity Derivative | 0 | 0 | 0.00 | 0.00 | 0 | -0.35 | -0.01 |
| Derivatives Total | 0 | 0 | 0.00 | 0.00 | 0 | -0.35 | -0.01 |
| Repsol S.A | -214,000 | 0 | 0.00 | 0.00 | 214,000 | 67.91 | 1.19 |
| Royal Dutch Shell Plc - A | 0 | 258,000 | 169.31 | 2.65 | 258,000 | 163.87 | 2.87 |
| Energy Total | -214,000 | 258,000 | 169.31 | 2.65 | 472,000 | 231.78 | 4.06 |
| EXOR S.p.A | 0 | 187,500 | 358.17 | 5.61 | 187,500 | 395.06 | 6.91 |
| Financial Services Total | 0 | 187,500 | 358.17 | 5.61 | 187,500 | 395.06 | 6.91 |
| Astral Foods Ltd. | -184,254 | 0 | 0.00 | 0.00 | 184,254 | 26.38 | 0.46 |
| Food Producers Total | -184,254 | 0 | 0.00 | 0.00 | 184,254 | 26.38 | 0.46 |
| European - Currency | 0 | 0 | 3.02 | 0.05 | 0 | 1.68 | 0.03 |
| Foreign - Currency | 0 | 0 | 7.40 | 0.12 | 0 | 7.12 | 0.12 |
| Hong Kong - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.04 | 0.00 | 0 | 0.00 | 0.00 |
| USA - Currency | 0 | 0 | 0.04 | 0.00 | 0 | 0.12 | 0.00 |
| For Currency Total | 0 | 0 | 10.49 | 0.16 | 0 | 8.92 | 0.16 |
| m Cubed Holdings Ltd. | 0 | 4,758,570 | 0.05 | 0.00 | 4,758,570 | 0.05 | 0.00 |
| General Financial Total | 0 | 4,758,570 | 0.05 | 0.00 | 4,758,570 | 0.05 | 0.00 |
| Netcare Ltd. | 12,537,952 | 12,537,952 | 160.61 | 2.52 | 0 | 0.00 | 0.00 |
| Health Care Providers Total | 12,537,952 | 12,537,952 | 160.61 | 2.52 | 0 | 0.00 | 0.00 |
| Fairtree BCI Income Plus - F | 2,612,307 | 141,620,689 | 174.62 | 2.74 | 139,008,382 | 171.16 | 2.99 |
| Income Total | 2,612,307 | 141,620,689 | 174.62 | 2.74 | 139,008,382 | 171.16 | 2.99 |
| African Rainbow Minerals Ltd. | 0 | 1,303,200 | 297.64 | 4.67 | 1,303,200 | 214.68 | 3.76 |
| Anglo American plc | -38,817 | 180,000 | 104.06 | 1.63 | 218,817 | 103.68 | 1.81 |
| Merafe Resources Ltd. | 0 | 24,513,000 | 35.54 | 0.56 | 24,513,000 | 38.00 | 0.66 |
| Industrial Metals and Mining Total | -38,817 | 25,996,200 | 437.25 | 6.85 | 26,035,017 | 356.35 | 6.23 |
| Remgro Ltd. | -165,428 | 1,100,000 | 151.76 | 2.38 | 1,265,428 | 153.07 | 2.68 |
| Investment Banking and Brokerage Services Total | -165,428 | 1,100,000 | 151.76 | 2.38 | 1,265,428 | 153.07 | 2.68 |
| Momentum Group Ltd. | 43,045 | 7,669,177 | 175.47 | 2.75 | 7,626,132 | 155.27 | 2.72 |
| Life Insurance Total | 43,045 | 7,669,177 | 175.47 | 2.75 | 7,626,132 | 155.27 | 2.72 |
| eMedia Holdings Ltd. | 0 | 3,766,214 | 12.81 | 0.20 | 3,766,214 | 11.34 | 0.20 |
| Media Total | 0 | 3,766,214 | 12.81 | 0.20 | 3,766,214 | 11.34 | 0.20 |
| Money Market - 5 months duration | 0 | 0 | 154.96 | 2.43 | 0 | 0.00 | 0.00 |
| Money Market - 8 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 216.53 | 3.79 |
| Allan Gray Money Market - A | -496,888 | 32,894,087 | 33.06 | 0.52 | 33,390,975 | 33.67 | 0.59 |
| Coronation Money Market - P | 4,381,323 | 33,296,610 | 33.44 | 0.52 | 28,915,287 | 29.15 | 0.51 |
| Momentum Money Market - C1 | -516,476 | 32,792,514 | 32.95 | 0.52 | 33,308,990 | 33.58 | 0.59 |
| Ninety One Money Market - B | -531,332 | 32,945,250 | 33.10 | 0.52 | 33,476,582 | 33.75 | 0.59 |
| Money Market Total | 2,836,627 | 131,928,461 | 287.52 | 4.51 | 129,091,834 | 346.67 | 6.07 |
| OUTsurance Group Ltd. | 0 | 3,747,210 | 173.08 | 2.71 | 3,747,210 | 156.03 | 2.73 |
| Non-life Insurance Total | 0 | 3,747,210 | 173.08 | 2.71 | 3,747,210 | 156.03 | 2.73 |
| Bid Corporation Ltd. | 185,000 | 185,000 | 78.72 | 1.23 | 0 | 0.00 | 0.00 |
| Pick n Pay Stores Ltd. | -1,009,500 | 0 | 0.00 | 0.00 | 1,009,500 | 18.84 | 0.33 |
| Personal Care, Drug and Grocery Stores Total | -824,500 | 185,000 | 78.72 | 1.23 | 1,009,500 | 18.84 | 0.33 |
| Compagnie Financière Richemont SA | 0 | 29,000 | 82.34 | 1.29 | 29,000 | 83.38 | 1.46 |
| Personal Goods Total | 0 | 29,000 | 82.34 | 1.29 | 29,000 | 83.38 | 1.46 |
| Adcock Ingram Holdings Ltd. | 0 | 401,794 | 24.26 | 0.38 | 401,794 | 22.10 | 0.39 |
| Aspen Pharmacare Holdings Ltd. | -120,000 | 1,530,000 | 358.56 | 5.62 | 1,650,000 | 360.82 | 6.31 |
| Pharmaceuticals and Biotechnology Total | -120,000 | 1,931,794 | 382.82 | 6.00 | 2,051,794 | 382.92 | 6.70 |
| Absa Bank Ltd. | 0 | 39,055 | 29.14 | 0.46 | 39,055 | 29.99 | 0.52 |
| Standard Bank Group Ltd. | 0 | 384,089 | 32.69 | 0.51 | 384,089 | 33.26 | 0.58 |
| Preference Shares Total | 0 | 423,144 | 61.82 | 0.97 | 423,144 | 63.26 | 1.11 |
| Truworths International Ltd. | 255,649 | 3,071,073 | 283.77 | 4.45 | 2,815,424 | 214.48 | 3.75 |
| Retailers Total | 255,649 | 3,071,073 | 283.77 | 4.45 | 2,815,424 | 214.48 | 3.75 |
| Prosus NV | 147,900 | 420,000 | 272.56 | 4.27 | 272,100 | 162.16 | 2.84 |
| Software and Computer Services Total | 147,900 | 420,000 | 272.56 | 4.27 | 272,100 | 162.16 | 2.84 |
| Dell Technologies Inc | -71,000 | 99,000 | 251.10 | 3.94 | 170,000 | 360.16 | 6.30 |
| Technology Total | -71,000 | 99,000 | 251.10 | 3.94 | 170,000 | 360.16 | 6.30 |
| British American Tobacco plc | 0 | 255,561 | 147.19 | 2.31 | 255,561 | 150.88 | 2.64 |
| Tobacco Total | 0 | 255,561 | 147.19 | 2.31 | 255,561 | 150.88 | 2.64 |
| Portfolio Total | 87,347,728 | 980,074,834 | 6,380.33 | 100.00 | 892,727,106 | 5,715.65 | 100.00 |