| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -5,665 | 75,818 | 13.37 | 3.70 | 81,483 | 15.46 | 4.74 |
| Capitec Bank Holdings Ltd. | -420 | 2,709 | 8.35 | 2.31 | 3,129 | 9.81 | 3.01 |
| FirstRand Ltd. | 65,200 | 304,347 | 21.89 | 6.06 | 239,147 | 18.17 | 5.57 |
| Investec Ltd. | 7,469 | 72,621 | 8.23 | 2.28 | 65,152 | 8.15 | 2.50 |
| Investec plc | 551 | 6,290 | 0.71 | 0.20 | 5,739 | 0.73 | 0.22 |
| Nedbank Group Ltd. | 7,932 | 23,973 | 6.14 | 1.70 | 16,041 | 4.52 | 1.39 |
| Standard Bank Group Ltd. | -12,505 | 85,775 | 20.60 | 5.71 | 98,280 | 21.79 | 6.69 |
| Banks Total | 62,562 | 571,533 | 79.30 | 21.96 | 508,971 | 78.62 | 24.12 |
| Anheuser-Busch InBev SA/NV | 1,013 | 11,323 | 12.79 | 3.54 | 10,310 | 9.67 | 2.97 |
| Beverages Total | 1,013 | 11,323 | 12.79 | 3.54 | 10,310 | 9.67 | 2.97 |
| Cash on call | 0 | 0 | 6.33 | 1.75 | 0 | 12.35 | 3.79 |
| Cash on call Total | 0 | 0 | 6.33 | 1.75 | 0 | 12.35 | 3.79 |
| Sasol Ltd. | 4,278 | 30,684 | 2.34 | 0.65 | 26,406 | 2.20 | 0.67 |
| Chemicals Total | 4,278 | 30,684 | 2.34 | 0.65 | 26,406 | 2.20 | 0.67 |
| Raubex Group Ltd. | -11,143 | 0 | 0.00 | 0.00 | 11,143 | 0.59 | 0.18 |
| Construction and Materials Total | -11,143 | 0 | 0.00 | 0.00 | 11,143 | 0.59 | 0.18 |
| Stadio Holdings Ltd. | 15,669 | 355,592 | 2.67 | 0.74 | 339,923 | 2.35 | 0.72 |
| Zeda Ltd. | -6,733 | 50,480 | 0.56 | 0.16 | 57,213 | 0.76 | 0.23 |
| Consumer Services Total | 8,936 | 406,072 | 3.23 | 0.89 | 397,136 | 3.11 | 0.95 |
| Astral Foods Ltd. | 1,199 | 19,584 | 3.23 | 0.90 | 18,385 | 3.44 | 1.05 |
| Food Producers Total | 1,199 | 19,584 | 3.23 | 0.90 | 18,385 | 3.44 | 1.05 |
| Equity | 0 | 0 | 0.05 | 0.01 | 0 | 0.00 | 0.00 |
| General Equity Total | 0 | 0 | 0.05 | 0.01 | 0 | 0.00 | 0.00 |
| Mondi plc | 665 | 21,057 | 5.73 | 1.59 | 20,392 | 5.66 | 1.74 |
| The Bidvest Group Ltd. | 2,787 | 2,787 | 0.66 | 0.18 | 0 | 0.00 | 0.00 |
| General Industrials Total | 3,452 | 23,844 | 6.39 | 1.77 | 20,392 | 5.66 | 1.74 |
| Life Healthcare Group Holdings Ltd. | -73,305 | 0 | 0.00 | 0.00 | 73,305 | 1.20 | 0.37 |
| Health Care Providers Total | -73,305 | 0 | 0.00 | 0.00 | 73,305 | 1.20 | 0.37 |
| Afrimat Ltd. | 774 | 8,691 | 0.51 | 0.14 | 7,917 | 0.56 | 0.17 |
| Anglo American plc | 1,219 | 19,345 | 9.97 | 2.76 | 18,126 | 10.00 | 3.07 |
| BHP Group Ltd. | -485 | 5,224 | 2.28 | 0.63 | 5,709 | 2.63 | 0.81 |
| Glencore plc | -26,021 | 19,720 | 1.32 | 0.37 | 45,741 | 3.82 | 1.17 |
| Kumba Iron Ore Ltd. | -3,114 | 3,511 | 1.10 | 0.30 | 6,625 | 2.16 | 0.66 |
| South32 Ltd. | 20,775 | 31,651 | 1.19 | 0.33 | 10,876 | 0.43 | 0.13 |
| Industrial Metals and Mining Total | -6,852 | 88,142 | 16.37 | 4.53 | 94,994 | 19.61 | 6.02 |
| Ninety One Ltd. | 18,571 | 96,313 | 3.34 | 0.93 | 77,742 | 2.69 | 0.83 |
| Quilter plc | 3,598 | 39,945 | 1.42 | 0.39 | 36,347 | 1.29 | 0.40 |
| Reinet Investments SCA | 9,543 | 13,114 | 5.88 | 1.63 | 3,571 | 1.60 | 0.49 |
| Investment Banking and Brokerage Services Total | 31,712 | 149,372 | 10.64 | 2.95 | 117,660 | 5.58 | 1.71 |
| Momentum Group Ltd. | 19,992 | 298,901 | 9.47 | 2.62 | 278,909 | 8.44 | 2.59 |
| Old Mutual Ltd. | 114,131 | 722,695 | 8.63 | 2.39 | 608,564 | 7.61 | 2.34 |
| Sanlam Ltd. | 13,211 | 156,380 | 13.05 | 3.62 | 143,169 | 12.44 | 3.82 |
| Life Insurance Total | 147,334 | 1,177,976 | 31.15 | 8.63 | 1,030,642 | 28.49 | 8.74 |
| Bid Corporation Ltd. | 5,369 | 21,727 | 9.56 | 2.65 | 16,358 | 7.04 | 2.16 |
| Boxer Retail Ltd. | 2,024 | 28,816 | 2.02 | 0.56 | 26,792 | 1.73 | 0.53 |
| Pick n Pay Stores Ltd. | 4,826 | 118,599 | 3.27 | 0.90 | 113,773 | 3.49 | 1.07 |
| Shoprite Holdings Ltd. | 4,841 | 21,735 | 5.89 | 1.63 | 16,894 | 4.98 | 1.53 |
| Personal Care, Drug and Grocery Stores Total | 17,060 | 190,877 | 20.74 | 5.74 | 173,817 | 17.24 | 5.29 |
| Compagnie Financière Richemont SA | 497 | 2,287 | 7.30 | 2.02 | 1,790 | 4.97 | 1.52 |
| Personal Goods Total | 497 | 2,287 | 7.30 | 2.02 | 1,790 | 4.97 | 1.52 |
| Aspen Pharmacare Holdings Ltd. | 4,086 | 38,904 | 6.33 | 1.75 | 34,818 | 5.74 | 1.76 |
| Pharmaceuticals and Biotechnology Total | 4,086 | 38,904 | 6.33 | 1.75 | 34,818 | 5.74 | 1.76 |
| AngloGold Ashanti plc | 3,194 | 19,350 | 13.50 | 3.74 | 16,156 | 6.80 | 2.09 |
| Gold Fields Ltd. | -166 | 52,361 | 21.82 | 6.04 | 52,527 | 12.98 | 3.98 |
| Harmony Gold Mining Company Ltd. | 2,115 | 12,330 | 3.28 | 0.91 | 10,215 | 1.54 | 0.47 |
| Impala Platinum Holdings Ltd. | -1,339 | 6,299 | 0.80 | 0.22 | 7,638 | 0.67 | 0.21 |
| Northam Platinum Holdings Ltd. | -32,690 | 2,002 | 0.27 | 0.07 | 34,692 | 3.38 | 1.04 |
| Sibanye Stillwater Ltd. | 122,943 | 231,591 | 4.80 | 1.33 | 108,648 | 1.63 | 0.50 |
| Valterra Platinum Ltd. | 2,021 | 6,160 | 4.62 | 1.28 | 4,139 | 2.35 | 0.72 |
| Precious Metals and Mining Total | 96,078 | 330,093 | 49.09 | 13.60 | 234,015 | 29.35 | 9.01 |
| Fortress Real Estate Investments Ltd. | 17,254 | 158,227 | 3.00 | 0.83 | 140,973 | 2.86 | 0.88 |
| Real Estate Investment and Services Total | 17,254 | 158,227 | 3.00 | 0.83 | 140,973 | 2.86 | 0.88 |
| Dipula Properties Ltd. | -117,709 | 0 | 0.00 | 0.00 | 117,709 | 0.63 | 0.19 |
| Growthpoint Properties Ltd. | 135,649 | 135,649 | 1.76 | 0.49 | 0 | 0.00 | 0.00 |
| Redefine Properties Ltd. | 501,834 | 501,834 | 2.12 | 0.59 | 0 | 0.00 | 0.00 |
| Stor-Age Property REIT Ltd. | 5,709 | 53,952 | 0.78 | 0.22 | 48,243 | 0.75 | 0.23 |
| Real Estate Investment Trusts Total | 525,483 | 691,435 | 4.66 | 1.29 | 165,952 | 1.38 | 0.42 |
| Pepkor Holdings Ltd. | 39,739 | 301,037 | 7.71 | 2.14 | 261,298 | 7.56 | 2.32 |
| The Foschini Group Ltd. | 14,193 | 67,710 | 8.35 | 2.31 | 53,517 | 9.08 | 2.78 |
| We Buy Cars Holdings Ltd. | 10,574 | 76,500 | 3.20 | 0.89 | 65,926 | 2.84 | 0.87 |
| Woolworths Holdings Ltd. | 19,000 | 95,675 | 4.95 | 1.37 | 76,675 | 4.78 | 1.47 |
| Retailers Total | 83,506 | 540,922 | 24.21 | 6.71 | 457,416 | 24.26 | 7.44 |
| Bytes Technology Group plc | 8,314 | 8,314 | 0.96 | 0.27 | 0 | 0.00 | 0.00 |
| Naspers Ltd. | 515 | 4,153 | 18.86 | 5.23 | 3,638 | 15.18 | 4.66 |
| Prosus NV | -9,121 | 37,618 | 31.67 | 8.77 | 46,739 | 35.01 | 10.74 |
| Software and Computer Services Total | -292 | 50,085 | 51.50 | 14.26 | 50,377 | 50.19 | 15.40 |
| MTN Group Ltd. | -13,334 | 111,493 | 13.82 | 3.83 | 124,827 | 11.48 | 3.52 |
| Telkom SA SOC Ltd. | 1,062 | 62,276 | 2.30 | 0.64 | 61,214 | 2.14 | 0.66 |
| Telecommunications Service Providers Total | -12,272 | 173,769 | 16.11 | 4.46 | 186,041 | 13.62 | 4.18 |
| British American Tobacco plc | -203 | 8,204 | 6.27 | 1.74 | 8,407 | 5.80 | 1.78 |
| Tobacco Total | -203 | 8,204 | 6.27 | 1.74 | 8,407 | 5.80 | 1.78 |
| Portfolio Total | 900,383 | 4,663,333 | 361.02 | 100.00 | 3,762,950 | 325.93 | 100.00 |