| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 328,514 | 1,553,514 | 246.15 | 4.74 | 1,225,000 | 181.46 | 3.83 |
| FirstRand Ltd. | -750,000 | 450,000 | 34.61 | 0.67 | 1,200,000 | 74.08 | 1.56 |
| Nedbank Group Ltd. | 0 | 170,000 | 43.59 | 0.84 | 170,000 | 38.87 | 0.82 |
| Standard Bank Group Ltd. | -240,000 | 0 | 0.00 | 0.00 | 240,000 | 44.46 | 0.94 |
| Barclays Plc | 0 | 0 | 0.00 | 0.00 | 0 | 45.29 | 0.96 |
| TBC Bank Group PLC | 197,500 | 197,500 | 117.16 | 2.26 | 0 | 0.00 | 0.00 |
| Banks Total | -463,986 | 2,371,014 | 441.51 | 8.51 | 2,835,000 | 384.15 | 8.10 |
| SA Bond CLN864 | 0 | 32,500,000 | 39.10 | 0.75 | 32,500,000 | 36.30 | 0.77 |
| SA Bond CLN898 | 0 | 55,000,000 | 61.28 | 1.18 | 55,000,000 | 53.35 | 1.13 |
| SA Bond CLN938 | 0 | 24,000,000 | 24.11 | 0.46 | 24,000,000 | 24.11 | 0.51 |
| SA Bond I2025 | -168,260,000 | 0 | 0.00 | 0.00 | 168,260,000 | 298.41 | 6.30 |
| SA Bond I2029 | 18,700,000 | 114,040,000 | 148.78 | 2.87 | 95,340,000 | 122.06 | 2.58 |
| SA Bond OML11 | -1,500,000 | 0 | 0.00 | 0.00 | 1,500,000 | 1.51 | 0.03 |
| SA Bond R2037 | 215,700,000 | 309,700,000 | 254.81 | 4.91 | 94,000,000 | 70.77 | 1.49 |
| SA Bond R2040 | 220,800,000 | 1,223,000,000 | 1,010.37 | 19.47 | 1,002,200,000 | 755.71 | 15.94 |
| SA Bond R2044 | -306,500,000 | 37,300,000 | 29.32 | 0.57 | 343,800,000 | 245.58 | 5.18 |
| SA Bond R210 | 21,000,000 | 98,020,000 | 231.61 | 4.46 | 77,020,000 | 178.17 | 3.76 |
| Bond Total | -60,000 | 1,893,560,000 | 1,799.38 | 34.68 | 1,893,620,000 | 1,785.97 | 37.68 |
| Cash on call | 0 | 0 | 73.36 | 1.41 | 0 | -558.30 | -11.78 |
| Margin Account | 0 | 0 | 8.36 | 0.16 | 0 | 19.88 | 0.42 |
| Cash on call Total | 0 | 0 | 81.72 | 1.57 | 0 | -538.42 | -11.36 |
| Omnia Holdings Ltd. | 0 | 60,000 | 3.97 | 0.08 | 60,000 | 3.54 | 0.07 |
| Sasol Ltd. | 0 | 874,000 | 120.70 | 2.33 | 874,000 | 127.94 | 2.70 |
| Chemicals Total | 0 | 934,000 | 124.67 | 2.40 | 934,000 | 131.49 | 2.77 |
| African Rainbow Capital Investments Ltd. | 0 | 8,200,000 | 56.58 | 1.09 | 8,200,000 | 41.08 | 0.87 |
| EPE Capital Partners Ltd. | 0 | 12,500,000 | 52.63 | 1.01 | 12,500,000 | 53.13 | 1.12 |
| Closed End Investments Total | 0 | 20,700,000 | 109.21 | 2.10 | 20,700,000 | 94.21 | 1.99 |
| Raubex Group Ltd. | 160,269 | 1,860,269 | 74.41 | 1.43 | 1,700,000 | 52.55 | 1.11 |
| Construction and Materials Total | 160,269 | 1,860,269 | 74.41 | 1.43 | 1,700,000 | 52.55 | 1.11 |
| Zeda Ltd. | 1,506,470 | 6,006,470 | 74.18 | 1.43 | 4,500,000 | 49.73 | 1.05 |
| Alibaba Group Holdings Limited | 0 | 300,000 | 49.47 | 0.95 | 300,000 | 50.99 | 1.08 |
| Consumer Services Total | 1,506,470 | 6,306,470 | 123.65 | 2.38 | 4,800,000 | 100.72 | 2.12 |
| JDcom | 50,000 | 95,000 | 33.31 | 0.64 | 45,000 | 23.34 | 0.49 |
| LI Ning Company Limited | 350,000 | 350,000 | 13.83 | 0.27 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 400,000 | 445,000 | 47.15 | 0.91 | 45,000 | 23.34 | 0.49 |
| Bond Derivative | 0 | 0 | 542.45 | 10.45 | 0 | 395.04 | 8.33 |
| Equity Derivative | 0 | 0 | -60.75 | -1.17 | 0 | 213.46 | 4.50 |
| Derivatives Total | 0 | 0 | 481.71 | 9.28 | 0 | 608.50 | 12.84 |
| Reunert Ltd. | 0 | 360,000 | 25.29 | 0.49 | 360,000 | 23.76 | 0.50 |
| Electronic and Electrical Equipment Total | 0 | 360,000 | 25.29 | 0.49 | 360,000 | 23.76 | 0.50 |
| Shell Transport & Trading (Royal Dutch/Shell Group) | 0 | 655 | 0.43 | 0.01 | 655 | 0.41 | 0.01 |
| Energy Total | 0 | 655 | 0.43 | 0.01 | 655 | 0.41 | 0.01 |
| Abax Global Equity Fund | 0 | 450,000 | 170.48 | 3.29 | 450,000 | 180.90 | 3.82 |
| BYD Company | 40,000 | 40,000 | 21.70 | 0.42 | 0 | 0.00 | 0.00 |
| Foreign - Equity Derivatives | 0 | 0 | 0.93 | 0.02 | 0 | 0.00 | 0.00 |
| Equities Total | 40,000 | 490,000 | 193.11 | 3.72 | 450,000 | 180.90 | 3.82 |
| ST James Place | 80,000 | 160,000 | 20.18 | 0.39 | 80,000 | 8.89 | 0.19 |
| Financial Services Total | 80,000 | 160,000 | 20.18 | 0.39 | 80,000 | 8.89 | 0.19 |
| Heineken Holding NV | 0 | 15,000 | 21.62 | 0.42 | 15,000 | 22.95 | 0.48 |
| HelloFresh | 0 | 500,000 | 55.88 | 1.08 | 500,000 | 58.80 | 1.24 |
| Food & Beverage Total | 0 | 515,000 | 77.50 | 1.49 | 515,000 | 81.74 | 1.72 |
| Oceana Group Ltd. | 0 | 85,000 | 6.11 | 0.12 | 85,000 | 5.99 | 0.13 |
| Premier Group Ltd. | 0 | 514,526 | 36.47 | 0.70 | 514,526 | 31.44 | 0.66 |
| Food Producers Total | 0 | 599,526 | 42.58 | 0.82 | 599,526 | 37.43 | 0.79 |
| European - Currency | 0 | 0 | 54.07 | 1.04 | 0 | 34.81 | 0.73 |
| Foreign - Currency | 0 | 0 | 25.17 | 0.49 | 0 | 22.27 | 0.47 |
| Foreign - Money Market | 0 | 0 | 0.00 | 0.00 | 0 | 60.52 | 1.28 |
| Hong Kong - Currency | 0 | 0 | 1.97 | 0.04 | 0 | 2.79 | 0.06 |
| United Kingdom - Currency | 0 | 0 | 13.36 | 0.26 | 0 | 17.99 | 0.38 |
| USA - Currency | 0 | 0 | 28.28 | 0.54 | 0 | 11.42 | 0.24 |
| For Currency Total | 0 | 0 | 122.84 | 2.37 | 0 | 149.81 | 3.16 |
| Foreign - Bonds | 0 | 0 | 384.91 | 7.42 | 0 | 312.14 | 6.58 |
| Foreign - Equities | 0 | 0 | 54.04 | 1.04 | 0 | 197.44 | 4.17 |
| Foreign Invest Total | 0 | 0 | 438.95 | 8.46 | 0 | 509.59 | 10.75 |
| Barloworld Ltd. | 45,000 | 190,000 | 15.92 | 0.31 | 145,000 | 8.85 | 0.19 |
| KAP Ltd. | 0 | 6,000,000 | 17.10 | 0.33 | 6,000,000 | 15.60 | 0.33 |
| Mondi plc | -26,818 | 0 | 0.00 | 0.00 | 26,818 | 8.96 | 0.19 |
| General Industrials Total | 18,182 | 6,190,000 | 33.02 | 0.64 | 6,171,818 | 33.40 | 0.70 |
| Vinci SA | 10,000 | 10,000 | 19.25 | 0.37 | 0 | 0.00 | 0.00 |
| Goods & Services Total | 10,000 | 10,000 | 19.25 | 0.37 | 0 | 0.00 | 0.00 |
| Anglo American plc | 0 | 35,000 | 20.18 | 0.39 | 35,000 | 16.28 | 0.34 |
| Master Drilling Group Ltd. | 0 | 3,200,000 | 38.40 | 0.74 | 3,200,000 | 39.36 | 0.83 |
| Merafe Resources Ltd. | 0 | 32,500,000 | 48.10 | 0.93 | 32,500,000 | 51.03 | 1.08 |
| Industrial Metals and Mining Total | 0 | 35,735,000 | 106.68 | 2.06 | 35,735,000 | 106.67 | 2.25 |
| Hudaco Industries Ltd. | 0 | 40,000 | 6.78 | 0.13 | 40,000 | 6.34 | 0.13 |
| Industrial Support Services Total | 0 | 40,000 | 6.78 | 0.13 | 40,000 | 6.34 | 0.13 |
| Brait plc | 3,700,000 | 12,000,000 | 10.56 | 0.20 | 8,300,000 | 11.37 | 0.24 |
| Brait plc | 0 | 50,000 | 42.68 | 0.82 | 50,000 | 44.81 | 0.95 |
| Coronation Fund Managers Ltd. | 15,000 | 465,000 | 16.69 | 0.32 | 450,000 | 13.60 | 0.29 |
| Ninety One Ltd. | -140,000 | 560,000 | 21.28 | 0.41 | 700,000 | 28.24 | 0.60 |
| Zeder Investments Ltd. | 0 | 2,590,033 | 4.79 | 0.09 | 2,590,033 | 4.48 | 0.09 |
| Investment Banking and Brokerage Services Total | 3,575,000 | 15,665,033 | 96.01 | 1.85 | 12,090,033 | 102.51 | 2.16 |
| Momentum Group Ltd. | 0 | 450,000 | 10.31 | 0.20 | 450,000 | 9.14 | 0.19 |
| Old Mutual Ltd. | 2,300,000 | 2,300,000 | 28.50 | 0.55 | 0 | 0.00 | 0.00 |
| Life Insurance Total | 2,300,000 | 2,750,000 | 38.80 | 0.75 | 450,000 | 9.14 | 0.19 |
| Bid Corporation Ltd. | 50,000 | 50,000 | 21.24 | 0.41 | 0 | 0.00 | 0.00 |
| Personal Care, Drug and Grocery Stores Total | 50,000 | 50,000 | 21.24 | 0.41 | 0 | 0.00 | 0.00 |
| Adcock Ingram Holdings Ltd. | 90,000 | 90,000 | 5.41 | 0.10 | 0 | 0.00 | 0.00 |
| Pharmaceuticals and Biotechnology Total | 90,000 | 90,000 | 5.41 | 0.10 | 0 | 0.00 | 0.00 |
| Anglo American Platinum Ltd. | 15,000 | 15,000 | 9.03 | 0.17 | 0 | 0.00 | 0.00 |
| Impala Platinum Holdings Ltd. | -120,000 | 0 | 0.00 | 0.00 | 120,000 | 9.40 | 0.20 |
| Precious Metals and Mining Total | -105,000 | 15,000 | 9.03 | 0.17 | 120,000 | 9.40 | 0.20 |
| Balwin Properties Ltd. | 0 | 20,000,000 | 39.00 | 0.75 | 20,000,000 | 37.60 | 0.79 |
| MAS plc | 0 | 500,000 | 8.10 | 0.16 | 500,000 | 8.23 | 0.17 |
| Real Estate Investment and Services Total | 0 | 20,500,000 | 47.10 | 0.91 | 20,500,000 | 45.83 | 0.97 |
| Dipula Income Fund Ltd. | 67,680 | 24,867,680 | 101.96 | 1.97 | 24,800,000 | 102.92 | 2.17 |
| Growthpoint Properties Ltd. | -1,000,000 | 0 | 0.00 | 0.00 | 1,000,000 | 11.26 | 0.24 |
| Hammerson plc | -142,103 | 1,307,897 | 8.36 | 0.16 | 1,450,000 | 10.16 | 0.21 |
| Octodec Investments Ltd. | 0 | 3,937,234 | 39.49 | 0.76 | 3,937,234 | 38.58 | 0.81 |
| Schroder European Real Estate Investment Trust plc | 0 | 600,000 | 10.50 | 0.20 | 600,000 | 9.31 | 0.20 |
| Spear REIT Ltd. | 0 | 1,050,000 | 9.08 | 0.18 | 1,050,000 | 8.61 | 0.18 |
| Stor-Age Property REIT Ltd. | 0 | 930,000 | 12.88 | 0.25 | 930,000 | 12.61 | 0.27 |
| Real Estate Investment Trusts Total | -1,074,423 | 32,692,811 | 182.27 | 3.51 | 33,767,234 | 193.46 | 4.08 |
| Auto Trader Group PLC | 0 | 250,000 | 125.31 | 2.42 | 250,000 | 124.13 | 2.62 |
| Luk Fook Holdings (International) Limited | 0 | 150,000 | 6.49 | 0.13 | 150,000 | 11.99 | 0.25 |
| Retail Total | 0 | 400,000 | 131.80 | 2.54 | 400,000 | 136.11 | 2.87 |
| Combined Motor Holdings Ltd. | 0 | 700,000 | 19.69 | 0.38 | 700,000 | 18.55 | 0.39 |
| Italtile Ltd. | 0 | 1,990,000 | 22.03 | 0.42 | 1,990,000 | 20.30 | 0.43 |
| KAL Group Ltd. | 38,031 | 880,000 | 41.78 | 0.81 | 841,969 | 33.68 | 0.71 |
| Mr Price Group Ltd. | -50,000 | 0 | 0.00 | 0.00 | 50,000 | 8.69 | 0.18 |
| Pepkor Holdings Ltd. | 1,250,000 | 1,250,000 | 23.41 | 0.45 | 0 | 0.00 | 0.00 |
| Woolworths Holdings Ltd. | 150,000 | 650,000 | 40.16 | 0.77 | 500,000 | 29.61 | 0.62 |
| Retailers Total | 1,388,031 | 5,470,000 | 147.07 | 2.83 | 4,081,969 | 110.82 | 2.34 |
| Naspers Ltd. | -7,000 | 0 | 0.00 | 0.00 | 7,000 | 23.50 | 0.50 |
| Prosus NV | -90,000 | 0 | 0.00 | 0.00 | 90,000 | 53.82 | 1.14 |
| Software and Computer Services Total | -97,000 | 0 | 0.00 | 0.00 | 97,000 | 77.32 | 1.63 |
| Zoom Video Communications | 13,000 | 13,000 | 14.05 | 0.27 | 0 | 0.00 | 0.00 |
| Technology Total | 13,000 | 13,000 | 14.05 | 0.27 | 0 | 0.00 | 0.00 |
| MTN Group Ltd. | 0 | 937,500 | 79.63 | 1.53 | 937,500 | 87.88 | 1.85 |
| Telkom SA SOC Ltd. | 0 | 440,000 | 10.78 | 0.21 | 440,000 | 13.20 | 0.28 |
| Telecommunications Service Providers Total | 0 | 1,377,500 | 90.42 | 1.74 | 1,377,500 | 101.08 | 2.13 |
| British American Tobacco plc | -240,000 | 0 | 0.00 | 0.00 | 240,000 | 138.51 | 2.92 |
| Tobacco Total | -240,000 | 0 | 0.00 | 0.00 | 240,000 | 138.51 | 2.92 |
| City Lodge Hotels Ltd. | 0 | 3,500,000 | 15.16 | 0.29 | 3,500,000 | 14.77 | 0.31 |
| Sun International Ltd. | 0 | 551,458 | 20.39 | 0.39 | 551,458 | 19.88 | 0.42 |
| Travel and Leisure Total | 0 | 4,051,458 | 35.55 | 0.69 | 4,051,458 | 34.65 | 0.73 |
| Portfolio Total | 7,590,543 | 2,053,351,736 | 5,188.76 | 100.00 | 2,045,761,193 | 4,740.28 | 100.00 |