| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 159,000 | 159,000 | 28.78 | 1.16 | 0 | 0.00 | 0.00 |
| FirstRand Ltd. | 437,059 | 437,059 | 34.04 | 1.37 | 0 | 0.00 | 0.00 |
| Nedbank Group Ltd. | 151,399 | 151,399 | 32.47 | 1.31 | 0 | 0.00 | 0.00 |
| Standard Bank Group Ltd. | 129,500 | 129,500 | 30.66 | 1.23 | 0 | 0.00 | 0.00 |
| Banks Total | 876,958 | 876,958 | 125.95 | 5.07 | 0 | 0.00 | 0.00 |
| BHP Billiton UK | 3,650 | 39,650 | 18.98 | 0.76 | 36,000 | 15.32 | 0.61 |
| Basic Resources Total | 3,650 | 39,650 | 18.98 | 0.76 | 36,000 | 15.32 | 0.61 |
| SA Bond R186 | 0 | 96,000,000 | 102.16 | 4.11 | 96,000,000 | 99.91 | 3.97 |
| SA Bond R2032 | -13,000,000 | 0 | 0.00 | 0.00 | 13,000,000 | 12.68 | 0.50 |
| Bond Total | -13,000,000 | 96,000,000 | 102.16 | 4.11 | 109,000,000 | 112.60 | 4.47 |
| Cash on call | 0 | 0 | 61.24 | 2.47 | 0 | 51.26 | 2.04 |
| Cash on call Total | 0 | 0 | 61.24 | 2.47 | 0 | 51.26 | 2.04 |
| AECI Ltd. | 0 | 698,002 | 67.80 | 2.73 | 698,002 | 74.12 | 2.94 |
| Chemicals Total | 0 | 698,002 | 67.80 | 2.73 | 698,002 | 74.12 | 2.94 |
| Curro Holdings Ltd. | -777,079 | 0 | 0.00 | 0.00 | 777,079 | 7.05 | 0.28 |
| Melco Resorts and Entertainment Ltd | -43,700 | 102,425 | 17.42 | 0.70 | 146,125 | 18.70 | 0.74 |
| Consumer Services Total | -820,779 | 102,425 | 17.42 | 0.70 | 923,204 | 25.75 | 1.02 |
| Galaxy Entertainment Group | 124,900 | 374,470 | 36.25 | 1.46 | 249,570 | 19.70 | 0.78 |
| Jumbo SA | 0 | 103,701 | 61.85 | 2.49 | 103,701 | 63.19 | 2.51 |
| Mondi Plc | 94,600 | 145,763 | 34.48 | 1.39 | 51,163 | 14.89 | 0.59 |
| Rémy Cointreau | 14,080 | 14,080 | 13.39 | 0.54 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 233,580 | 638,014 | 145.97 | 5.88 | 404,434 | 97.77 | 3.88 |
| Conocophillips Incorporated | 0 | 13,610 | 22.55 | 0.91 | 13,610 | 21.82 | 0.87 |
| Occidental Petroleum Corporation | 500 | 500 | 0.42 | 0.02 | 0 | 0.00 | 0.00 |
| Royal Dutch Shell Plc - A | 500 | 19,610 | 12.16 | 0.49 | 19,110 | 12.00 | 0.48 |
| Energy Total | 1,000 | 33,720 | 35.12 | 1.41 | 32,720 | 33.82 | 1.34 |
| Aylett Global Equity Fund | 0 | 91,087 | 216.02 | 8.70 | 91,087 | 217.71 | 8.65 |
| Dollar General Corp | 9,660 | 62,060 | 110.41 | 4.45 | 52,400 | 106.62 | 4.23 |
| Equities Total | 9,660 | 153,147 | 326.43 | 13.15 | 143,487 | 324.33 | 12.88 |
| Nutun Ltd. | -150,788 | 8,163,205 | 8.20 | 0.33 | 8,313,993 | 11.64 | 0.46 |
| Finance and Credit Services Total | -150,788 | 8,163,205 | 8.20 | 0.33 | 8,313,993 | 11.64 | 0.46 |
| Ninety One PLC | 0 | 750,982 | 35.35 | 1.42 | 750,982 | 33.66 | 1.34 |
| ST James Place | 0 | 257,701 | 75.60 | 3.04 | 257,701 | 74.54 | 2.96 |
| Financial Services Total | 0 | 1,008,683 | 110.95 | 4.47 | 1,008,683 | 108.20 | 4.30 |
| Groupe Bruxelles Lambert SA | 0 | 15,550 | 23.98 | 0.97 | 15,550 | 23.48 | 0.93 |
| Financials Total | 0 | 15,550 | 23.98 | 0.97 | 15,550 | 23.48 | 0.93 |
| Anheuser Busch InBev | 10,230 | 57,619 | 59.60 | 2.40 | 47,389 | 57.71 | 2.29 |
| Becle SAB de CV | 0 | 1,408,323 | 25.67 | 1.03 | 1,408,323 | 29.89 | 1.19 |
| Budweiser Brewing Company APAC Ltd | 1,342,970 | 1,342,970 | 24.70 | 0.99 | 0 | 0.00 | 0.00 |
| Heineken Holding NV | 10,060 | 50,083 | 59.24 | 2.39 | 40,023 | 52.76 | 2.10 |
| Nestle SA | 6,040 | 6,040 | 9.56 | 0.39 | 0 | 0.00 | 0.00 |
| Food & Beverage Total | 1,369,300 | 2,865,035 | 178.77 | 7.20 | 1,495,735 | 140.36 | 5.57 |
| Oceana Group Ltd. | 671,535 | 671,535 | 33.60 | 1.35 | 0 | 0.00 | 0.00 |
| Food Producers Total | 671,535 | 671,535 | 33.60 | 1.35 | 0 | 0.00 | 0.00 |
| European - Currency | 0 | 0 | 2.31 | 0.09 | 0 | 14.94 | 0.59 |
| Foreign - Money Market | 0 | 0 | 3.02 | 0.12 | 0 | 162.52 | 6.45 |
| Hong Kong - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 2.14 | 0.09 | 0 | 11.24 | 0.45 |
| USA - Currency | 0 | 0 | 5.78 | 0.23 | 0 | 2.81 | 0.11 |
| For Currency Total | 0 | 0 | 13.25 | 0.53 | 0 | 191.52 | 7.60 |
| Foreign - Bonds | 0 | 0 | 7.07 | 0.28 | 0 | 7.19 | 0.29 |
| Foreign - Equities | 0 | 0 | 3.32 | 0.13 | 0 | 3.67 | 0.15 |
| Foreign Invest Total | 0 | 0 | 10.39 | 0.42 | 0 | 10.87 | 0.43 |
| Bowler Metcalf Ltd. | 0 | 1,722,682 | 22.83 | 0.92 | 1,722,682 | 22.14 | 0.88 |
| General Industrials Total | 0 | 1,722,682 | 22.83 | 0.92 | 1,722,682 | 22.14 | 0.88 |
| British American Tobacco Corporation | 4,760 | 132,642 | 120.85 | 4.87 | 127,882 | 109.40 | 4.34 |
| Delfi Ltd | 0 | 3,902,470 | 41.30 | 1.66 | 3,902,470 | 41.08 | 1.63 |
| Rubis SCA | -67,985 | 40,576 | 26.08 | 1.05 | 108,561 | 62.22 | 2.47 |
| Sabre Holdings Corporation | 0 | 325,610 | 10.35 | 0.42 | 325,610 | 18.41 | 0.73 |
| SBM Offshore NV | -32,840 | 23,929 | 10.61 | 0.43 | 56,769 | 26.60 | 1.06 |
| Goods & Services Total | -96,065 | 4,425,227 | 209.19 | 8.43 | 4,521,292 | 257.71 | 10.23 |
| Netcare Ltd. | 1,054,178 | 5,838,675 | 83.55 | 3.37 | 4,784,497 | 66.89 | 2.66 |
| Health Care Providers Total | 1,054,178 | 5,838,675 | 83.55 | 3.37 | 4,784,497 | 66.89 | 2.66 |
| Hudaco Industries Ltd. | 3,000 | 186,060 | 32.68 | 1.32 | 183,060 | 35.78 | 1.42 |
| Industrial Support Services Total | 3,000 | 186,060 | 32.68 | 1.32 | 183,060 | 35.78 | 1.42 |
| Super Group Ltd. | 316,400 | 3,554,890 | 45.32 | 1.83 | 3,238,490 | 51.62 | 2.05 |
| Industrial Transportation Total | 316,400 | 3,554,890 | 45.32 | 1.83 | 3,238,490 | 51.62 | 2.05 |
| Berkshire Hathaway Inc | 0 | 2,545 | 21.96 | 0.88 | 2,545 | 21.98 | 0.87 |
| Moneysupermarket.com | 0 | 646,113 | 29.82 | 1.20 | 646,113 | 34.89 | 1.39 |
| Insurance Total | 0 | 648,658 | 51.78 | 2.09 | 648,658 | 56.87 | 2.26 |
| Reinet Investments SCA | 7,315 | 352,773 | 178.19 | 7.18 | 345,458 | 198.67 | 7.89 |
| Remgro Ltd. | 94,111 | 520,521 | 87.93 | 3.54 | 426,410 | 67.16 | 2.67 |
| Investment Banking and Brokerage Services Total | 101,426 | 873,294 | 266.11 | 10.72 | 771,868 | 265.83 | 10.56 |
| Caxton and CTP Publishers and Printers Ltd. | -269,495 | 491,800 | 6.69 | 0.27 | 761,295 | 8.75 | 0.35 |
| eMedia Holdings Ltd. | 217,097 | 217,097 | 0.38 | 0.02 | 0 | 0.00 | 0.00 |
| Media Total | -52,398 | 708,897 | 7.07 | 0.28 | 761,295 | 8.75 | 0.35 |
| Money Market - 4 months duration | 0 | 0 | 9.76 | 0.39 | 0 | 0.00 | 0.00 |
| Coronation Money Market - P | -33,500,000 | 550,000 | 0.55 | 0.02 | 34,050,000 | 34.16 | 1.36 |
| Nedgroup Inv Money Market - C | -18,750,000 | 15,725,000 | 15.86 | 0.64 | 34,475,000 | 34.80 | 1.38 |
| Ninety One Money Market - A | 13,066,620 | 13,202,643 | 13.34 | 0.54 | 136,023 | 0.14 | 0.01 |
| Prescient Money Market - B1 | -16,750,000 | 17,225,000 | 17.37 | 0.70 | 33,975,000 | 34.29 | 1.36 |
| Money Market Total | -55,933,380 | 46,702,643 | 56.88 | 2.29 | 102,636,023 | 103.39 | 4.11 |
| TotalEnergies SE | 2,000 | 12,020 | 12.59 | 0.51 | 10,020 | 11.07 | 0.44 |
| Oil and Gas Total | 2,000 | 12,020 | 12.59 | 0.51 | 10,020 | 11.07 | 0.44 |
| Boxer Retail Ltd. | -13,278 | 0 | 0.00 | 0.00 | 13,278 | 0.91 | 0.04 |
| The SPAR Group Ltd. | 100,093 | 596,170 | 57.66 | 2.32 | 496,077 | 53.47 | 2.12 |
| Personal Care, Drug and Grocery Stores Total | 86,815 | 596,170 | 57.66 | 2.32 | 509,355 | 54.38 | 2.16 |
| Goldrush Holdings Ltd. | -25,000 | 954,615 | 6.68 | 0.27 | 979,615 | 7.84 | 0.31 |
| Preference Shares Total | -25,000 | 954,615 | 6.68 | 0.27 | 979,615 | 7.84 | 0.31 |
| Stor-Age Property REIT Ltd. | 107,907 | 1,348,413 | 20.81 | 0.84 | 1,240,506 | 19.84 | 0.79 |
| Real Estate Investment Trusts Total | 107,907 | 1,348,413 | 20.81 | 0.84 | 1,240,506 | 19.84 | 0.79 |
| Bath & Body Works Inc | 7,610 | 117,675 | 53.00 | 2.13 | 110,065 | 58.82 | 2.34 |
| Diageo | 28,760 | 71,260 | 29.20 | 1.18 | 42,500 | 18.86 | 0.75 |
| Victorias Secret and Co | -15,190 | 60,221 | 27.57 | 1.11 | 75,411 | 25.90 | 1.03 |
| Retail Total | 21,180 | 249,156 | 109.77 | 4.42 | 227,976 | 103.58 | 4.11 |
| We Buy Cars Holdings Ltd. | 0 | 2,191,892 | 121.65 | 4.90 | 2,191,892 | 129.83 | 5.16 |
| Retailers Total | 0 | 2,191,892 | 121.65 | 4.90 | 2,191,892 | 129.83 | 5.16 |
| Southern Sun Ltd. | 0 | 7,633,706 | 65.42 | 2.64 | 7,633,706 | 67.18 | 2.67 |
| Spur Corporation Ltd. | 0 | 694,192 | 23.68 | 0.95 | 694,192 | 23.27 | 0.92 |
| Tsogo Sun Ltd. | -80,000 | 1,369,535 | 8.92 | 0.36 | 1,449,535 | 11.19 | 0.44 |
| Travel and Leisure Total | -80,000 | 9,697,433 | 98.02 | 3.95 | 9,777,433 | 101.64 | 4.04 |
| Portfolio Total | -65,299,821 | 190,976,649 | 2,482.80 | 100.00 | 256,276,470 | 2,518.17 | 100.00 |