| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | 33,117 | 216,941 | 673.09 | 2.20 | 183,824 | 576.17 | 1.90 |
| FirstRand Ltd. | 5,831,862 | 10,096,872 | 725.36 | 2.37 | 4,265,010 | 323.97 | 1.07 |
| Investec Ltd. | 292,977 | 292,977 | 33.39 | 0.11 | 0 | 0.00 | 0.00 |
| Investec plc | 2,851,995 | 2,851,995 | 324.84 | 1.06 | 0 | 0.00 | 0.00 |
| BANCO SANTANDER SA | 2,492,745 | 2,492,745 | 306.85 | 1.00 | 0 | 0.00 | 0.00 |
| Bank of America Corp | -417,764 | 0 | 0.00 | 0.00 | 417,764 | 346.47 | 1.14 |
| Barclays Plc | 2,292,496 | 2,292,496 | 156.63 | 0.51 | 0 | 0.00 | 0.00 |
| National Bank of Greece S.A. | 1,614,627 | 1,614,627 | 303.13 | 0.99 | 0 | 0.00 | 0.00 |
| Banks Total | 14,992,055 | 19,858,653 | 2,523.29 | 8.24 | 4,866,598 | 1,246.60 | 4.11 |
| Kinross Gold | 2,301,696 | 2,301,696 | 531.49 | 1.73 | 0 | 0.00 | 0.00 |
| Rheinmetal Berlin | 0 | 14,968 | 389.85 | 1.27 | 14,968 | 179.75 | 0.59 |
| Basic Resources Total | 2,301,696 | 2,316,664 | 921.34 | 3.01 | 14,968 | 179.75 | 0.59 |
| SA Bond I2025 | -867,500,000 | 0 | 0.00 | 0.00 | 867,500,000 | 1,617.08 | 5.33 |
| SA Bond I2029 | 0 | 500,000,000 | 676.55 | 2.21 | 500,000,000 | 667.25 | 2.20 |
| SA Bond R186 | 1,529,700,000 | 1,529,700,000 | 1,628.10 | 5.31 | 0 | 0.00 | 0.00 |
| SA Bond R2032 | -961,700,000 | 736,558,600 | 677.61 | 2.21 | 1,698,258,600 | 1,608.38 | 5.30 |
| SA Bond R2037 | 0 | 707,200,000 | 598.07 | 1.95 | 707,200,000 | 625.81 | 2.06 |
| Bond Total | -299,500,000 | 3,473,458,600 | 3,580.32 | 11.69 | 3,772,958,600 | 4,518.52 | 14.88 |
| Cash on call | 0 | 0 | 3,254.52 | 10.62 | 0 | 3,564.62 | 11.74 |
| Margin Account | 0 | 0 | 161.33 | 0.53 | 0 | 142.44 | 0.47 |
| Cash on call Total | 0 | 0 | 3,415.84 | 11.15 | 0 | 3,707.06 | 12.21 |
| CRH Plc | -191,143 | 0 | 0.00 | 0.00 | 191,143 | 334.91 | 1.10 |
| Construction Total | -191,143 | 0 | 0.00 | 0.00 | 191,143 | 334.91 | 1.10 |
| Booking Holdings | 1,727 | 1,727 | 142.14 | 0.46 | 0 | 0.00 | 0.00 |
| Netflix Inc | -24,651 | 0 | 0.00 | 0.00 | 24,651 | 414.61 | 1.37 |
| Tencent Holdings Ltd | 264,900 | 264,900 | 311.22 | 1.02 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 241,976 | 266,627 | 453.36 | 1.48 | 24,651 | 414.61 | 1.37 |
| Investec Global Focused Fund | 0 | 7,415,461 | 7,710.77 | 25.17 | 7,415,461 | 7,607.28 | 25.05 |
| Investec GSF Asia Pacific Francise Fund | 0 | 511,883 | 208.15 | 0.68 | 511,883 | 209.99 | 0.69 |
| Equities Total | 0 | 7,927,344 | 7,918.92 | 25.84 | 7,927,344 | 7,817.27 | 25.74 |
| 1nvestPlatinum ETF | 2,259,316 | 2,259,316 | 397.80 | 1.30 | 0 | 0.00 | 0.00 |
| NewGold | 0 | 2,454,529 | 1,305.37 | 4.26 | 2,454,529 | 1,115.41 | 3.67 |
| Exchange Traded Funds Total | 2,259,316 | 4,713,845 | 1,703.17 | 5.56 | 2,454,529 | 1,115.41 | 3.67 |
| Coinbase Global Inc | 0 | 25,488 | 78.79 | 0.26 | 25,488 | 119.42 | 0.39 |
| Natwest Group PLC | 2,977,243 | 2,977,243 | 319.32 | 1.04 | 0 | 0.00 | 0.00 |
| Societe Generale | 135,717 | 135,717 | 111.60 | 0.36 | 0 | 0.00 | 0.00 |
| Financial Services Total | 3,112,960 | 3,138,448 | 509.71 | 1.66 | 25,488 | 119.42 | 0.39 |
| JP Morgan Chase & Company | -19,557 | 62,816 | 278.87 | 0.91 | 82,373 | 372.60 | 1.23 |
| Financials Total | -19,557 | 62,816 | 278.87 | 0.91 | 82,373 | 372.60 | 1.23 |
| Australia - Currency | 0 | 0 | 0.02 | 0.00 | 0 | 0.02 | 0.00 |
| Canada - Currency | 0 | 0 | 0.01 | 0.00 | 0 | 0.01 | 0.00 |
| European - Currency | 0 | 0 | -59.86 | -0.20 | 0 | -58.87 | -0.19 |
| Foreign - Money Market | 0 | 0 | 407.66 | 1.33 | 0 | 0.00 | 0.00 |
| Hong Kong - Currency | 0 | 0 | 0.07 | 0.00 | 0 | 0.07 | 0.00 |
| Japan - Currency | 0 | 0 | 3.74 | 0.01 | 0 | 3.66 | 0.01 |
| Sweden - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Switzerland - Currency | 0 | 0 | 0.03 | 0.00 | 0 | 0.03 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 17.84 | 0.06 | 0 | 3.87 | 0.01 |
| USA - Currency | 0 | 0 | 999.46 | 3.26 | 0 | 1,378.89 | 4.54 |
| For Currency Total | 0 | 0 | 1,368.97 | 4.47 | 0 | 1,327.68 | 4.37 |
| Foreign - Bonds | 0 | 0 | 1,320.86 | 4.31 | 0 | 2,140.27 | 7.05 |
| Foreign Invest Total | 0 | 0 | 1,320.86 | 4.31 | 0 | 2,140.27 | 7.05 |
| Mondi plc | -653,551 | 0 | 0.00 | 0.00 | 653,551 | 181.36 | 0.60 |
| General Industrials Total | -653,551 | 0 | 0.00 | 0.00 | 653,551 | 181.36 | 0.60 |
| Airbus Group NV | 38,587 | 38,587 | 124.79 | 0.41 | 0 | 0.00 | 0.00 |
| Goods & Services Total | 38,587 | 38,587 | 124.79 | 0.41 | 0 | 0.00 | 0.00 |
| Anglo American plc | -940,089 | 541,914 | 276.89 | 0.90 | 1,482,003 | 817.84 | 2.69 |
| Glencore plc | -1,539,574 | 0 | 0.00 | 0.00 | 1,539,574 | 128.59 | 0.42 |
| Industrial Metals and Mining Total | -2,479,663 | 541,914 | 276.89 | 0.90 | 3,021,577 | 946.43 | 3.12 |
| Muenchener Ruek Versicherungs-Gesellschaft | 0 | 31,737 | 368.47 | 1.20 | 31,737 | 302.07 | 0.99 |
| Insurance Total | 0 | 31,737 | 368.47 | 1.20 | 31,737 | 302.07 | 0.99 |
| Reinet Investments SCA | -703,625 | 843,262 | 375.43 | 1.23 | 1,546,887 | 691.71 | 2.28 |
| Investment Banking and Brokerage Services Total | -703,625 | 843,262 | 375.43 | 1.23 | 1,546,887 | 691.71 | 2.28 |
| Money Market - 2 months duration | 0 | 0 | 668.89 | 2.18 | 0 | 0.00 | 0.00 |
| Money Market - 5 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 654.79 | 2.16 |
| Ninety One Corporate Money Market - A | 3,630,000 | 3,630,000 | 3.63 | 0.01 | 0 | 0.00 | 0.00 |
| Ninety One Money Market - Z | -137 | 0 | 0.00 | 0.00 | 137 | 0.00 | 0.00 |
| Money Market Total | 3,629,863 | 3,630,000 | 672.52 | 2.19 | 137 | 654.79 | 2.16 |
| Ninety One GSF US Dollar Money A Acc | -1,196,575 | 140,525 | 52.28 | 0.17 | 1,337,100 | 518.10 | 1.71 |
| Offshore Intern Total | -1,196,575 | 140,525 | 52.28 | 0.17 | 1,337,100 | 518.10 | 1.71 |
| TotalEnergies SE | -243,984 | 0 | 0.00 | 0.00 | 243,984 | 254.44 | 0.84 |
| Oil and Gas Total | -243,984 | 0 | 0.00 | 0.00 | 243,984 | 254.44 | 0.84 |
| Bid Corporation Ltd. | -363,617 | 1,116,817 | 490.79 | 1.60 | 1,480,434 | 637.43 | 2.10 |
| Shoprite Holdings Ltd. | 1,490,068 | 2,074,634 | 565.77 | 1.85 | 584,566 | 172.15 | 0.57 |
| Personal Care, Drug and Grocery Stores Total | 1,126,451 | 3,191,451 | 1,056.56 | 3.45 | 2,065,000 | 809.59 | 2.67 |
| Compagnie Financière Richemont SA | 33,574 | 88,029 | 279.04 | 0.91 | 54,455 | 151.16 | 0.50 |
| Personal Goods Total | 33,574 | 88,029 | 279.04 | 0.91 | 54,455 | 151.16 | 0.50 |
| Gold Fields Ltd. | 1,036,235 | 1,036,235 | 420.11 | 1.37 | 0 | 0.00 | 0.00 |
| Precious Metals and Mining Total | 1,036,235 | 1,036,235 | 420.11 | 1.37 | 0 | 0.00 | 0.00 |
| Adidas-Salomon AG | 15,941 | 51,144 | 219.88 | 0.72 | 35,203 | 162.89 | 0.54 |
| Next Plc | 172,189 | 172,189 | 453.12 | 1.48 | 0 | 0.00 | 0.00 |
| Tesco Corporation | -3,828,378 | 0 | 0.00 | 0.00 | 3,828,378 | 333.22 | 1.10 |
| Retail Total | -3,640,248 | 223,333 | 672.99 | 2.20 | 3,863,581 | 496.11 | 1.63 |
| Pepkor Holdings Ltd. | 18,593,121 | 18,593,121 | 474.68 | 1.55 | 0 | 0.00 | 0.00 |
| Retailers Total | 18,593,121 | 18,593,121 | 474.68 | 1.55 | 0 | 0.00 | 0.00 |
| Naspers Ltd. | 73,555 | 203,859 | 921.03 | 3.01 | 130,304 | 543.79 | 1.79 |
| Prosus NV | -827,856 | 0 | 0.00 | 0.00 | 827,856 | 620.11 | 2.04 |
| Software and Computer Services Total | -754,301 | 203,859 | 921.03 | 3.01 | 958,160 | 1,163.89 | 3.83 |
| Amazon.Com | 0 | 97,824 | 334.56 | 1.09 | 97,824 | 404.98 | 1.33 |
| Meta Platforms Inc | 27,359 | 27,359 | 283.23 | 0.92 | 0 | 0.00 | 0.00 |
| Sysco Corporation | -112,622 | 0 | 0.00 | 0.00 | 112,622 | 162.49 | 0.54 |
| Technology Total | -85,263 | 125,183 | 617.79 | 2.02 | 210,446 | 567.47 | 1.87 |
| British American Tobacco plc | -55,319 | 441,456 | 333.13 | 1.09 | 496,775 | 336.10 | 1.11 |
| Tobacco Total | -55,319 | 441,456 | 333.13 | 1.09 | 496,775 | 336.10 | 1.11 |
| Portfolio Total | -262,157,395 | 3,540,871,689 | 30,640.38 | 100.00 | 3,803,029,084 | 30,367.31 | 100.00 |