| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Montauk Renewables Inc. | 18,882 | 45,780 | 1.58 | 0.03 | 26,898 | 1.08 | 0.02 |
| Alternative Energy Total | 18,882 | 45,780 | 1.58 | 0.03 | 26,898 | 1.08 | 0.02 |
| Absa Group Ltd. | 95,872 | 607,235 | 109.96 | 1.81 | 511,363 | 90.00 | 1.99 |
| Capitec Bank Holdings Ltd. | 10,032 | 63,540 | 220.74 | 3.63 | 53,508 | 190.00 | 4.21 |
| FirstRand Ltd. | 597,387 | 3,753,672 | 291.51 | 4.79 | 3,156,285 | 238.90 | 5.29 |
| Investec Ltd. | 27,891 | 176,655 | 22.63 | 0.37 | 148,764 | 19.68 | 0.44 |
| Investec plc | 39,186 | 266,690 | 34.17 | 0.56 | 227,504 | 30.07 | 0.67 |
| Nedbank Group Ltd. | 52,644 | 333,438 | 71.19 | 1.17 | 280,794 | 68.25 | 1.51 |
| Standard Bank Group Ltd. | 152,705 | 967,210 | 228.64 | 3.76 | 814,505 | 185.32 | 4.10 |
| Banks Total | 975,717 | 6,168,440 | 978.84 | 16.09 | 5,192,723 | 822.22 | 18.20 |
| Anheuser-Busch InBev SA/NV | 7,705 | 65,673 | 67.43 | 1.11 | 57,968 | 70.64 | 1.56 |
| Beverages Total | 7,705 | 65,673 | 67.43 | 1.11 | 57,968 | 70.64 | 1.56 |
| Cash on call | 0 | 0 | 13.74 | 0.23 | 0 | 8.81 | 0.20 |
| Margin Account | 0 | 0 | 5.50 | 0.09 | 0 | 3.25 | 0.07 |
| Cash on call Total | 0 | 0 | 19.25 | 0.32 | 0 | 12.06 | 0.27 |
| AECI Ltd. | 13,476 | 80,264 | 7.80 | 0.13 | 66,788 | 7.08 | 0.16 |
| Omnia Holdings Ltd. | 21,047 | 124,092 | 8.88 | 0.15 | 103,045 | 8.19 | 0.18 |
| Sasol Ltd. | 68,185 | 431,876 | 46.41 | 0.76 | 363,691 | 28.64 | 0.63 |
| Chemicals Total | 102,708 | 636,232 | 63.09 | 1.04 | 533,524 | 43.92 | 0.97 |
| PPC Ltd. | 171,763 | 1,023,069 | 5.52 | 0.09 | 851,306 | 4.40 | 0.10 |
| Raubex Group Ltd. | 20,925 | 131,767 | 5.61 | 0.09 | 110,842 | 4.93 | 0.11 |
| Wilson Bayly Holmes - Ovcon Ltd. | 7,036 | 41,483 | 6.23 | 0.10 | 34,447 | 6.36 | 0.14 |
| Construction and Materials Total | 199,724 | 1,196,319 | 17.37 | 0.29 | 996,595 | 15.70 | 0.35 |
| ADvTECH Ltd. | 60,248 | 358,848 | 11.30 | 0.19 | 298,600 | 9.77 | 0.22 |
| Curro Holdings Ltd. | 98,651 | 407,558 | 4.89 | 0.08 | 308,907 | 2.78 | 0.06 |
| Consumer Services Total | 158,899 | 766,406 | 16.19 | 0.27 | 607,507 | 12.55 | 0.28 |
| Equity Derivative | 0 | 0 | 66.40 | 1.09 | 0 | 36.81 | 0.81 |
| Derivatives Total | 0 | 0 | 66.40 | 1.09 | 0 | 36.81 | 0.81 |
| Reunert Ltd. | 25,767 | 112,867 | 6.07 | 0.10 | 87,100 | 5.01 | 0.11 |
| Electronic and Electrical Equipment Total | 25,767 | 112,867 | 6.07 | 0.10 | 87,100 | 5.01 | 0.11 |
| Astral Foods Ltd. | 2,811 | 29,642 | 6.08 | 0.10 | 26,831 | 4.76 | 0.11 |
| AVI Ltd. | 39,823 | 252,229 | 24.95 | 0.41 | 212,406 | 19.99 | 0.44 |
| Oceana Group Ltd. | 7,707 | 63,612 | 3.15 | 0.05 | 55,905 | 2.93 | 0.06 |
| Tiger Brands Ltd. | 16,674 | 113,479 | 35.04 | 0.58 | 96,805 | 30.87 | 0.68 |
| Food Producers Total | 67,015 | 458,962 | 69.22 | 1.14 | 391,947 | 58.56 | 1.30 |
| Barloworld Ltd. | 17,645 | 105,097 | 12.40 | 0.20 | 87,452 | 9.87 | 0.22 |
| KAP Ltd. | 367,672 | 2,189,947 | 3.61 | 0.06 | 1,822,275 | 3.74 | 0.08 |
| Mondi plc | 23,512 | 138,904 | 32.73 | 0.54 | 115,392 | 33.59 | 0.74 |
| The Bidvest Group Ltd. | 38,833 | 245,959 | 52.10 | 0.86 | 207,126 | 48.37 | 1.07 |
| General Industrials Total | 447,662 | 2,679,907 | 100.84 | 1.66 | 2,232,245 | 95.57 | 2.12 |
| Life Healthcare Group Holdings Ltd. | 174,884 | 1,041,654 | 12.07 | 0.20 | 866,770 | 12.38 | 0.27 |
| Netcare Ltd. | 170,576 | 1,015,993 | 14.43 | 0.24 | 845,417 | 11.79 | 0.26 |
| Health Care Providers Total | 345,460 | 2,057,647 | 26.50 | 0.44 | 1,712,187 | 24.17 | 0.54 |
| Sappi Ltd. | 59,544 | 437,441 | 10.11 | 0.17 | 377,897 | 11.25 | 0.25 |
| Industrial Materials Total | 59,544 | 437,441 | 10.11 | 0.17 | 377,897 | 11.25 | 0.25 |
| African Rainbow Minerals Ltd. | 12,856 | 75,797 | 14.06 | 0.23 | 62,941 | 10.83 | 0.24 |
| Afrimat Ltd. | 13,299 | 89,472 | 3.40 | 0.06 | 76,173 | 3.35 | 0.07 |
| Anglo American plc | 35,458 | 236,112 | 152.65 | 2.51 | 200,654 | 105.47 | 2.33 |
| BHP Group Ltd. | 13,764 | 113,569 | 54.13 | 0.89 | 99,805 | 42.61 | 0.94 |
| Glencore plc | 218,920 | 628,333 | 50.08 | 0.82 | 409,413 | 28.47 | 0.63 |
| Kumba Iron Ore Ltd. | 6,734 | 39,704 | 12.90 | 0.21 | 32,970 | 9.40 | 0.21 |
| South32 Ltd. | 17,602 | 217,158 | 6.76 | 0.11 | 199,556 | 6.81 | 0.15 |
| Industrial Metals and Mining Total | 318,633 | 1,400,145 | 293.98 | 4.83 | 1,081,512 | 206.95 | 4.58 |
| Hudaco Industries Ltd. | 2,489 | 20,546 | 3.62 | 0.06 | 18,057 | 3.57 | 0.08 |
| Industrial Support Services Total | 2,489 | 20,546 | 3.62 | 0.06 | 18,057 | 3.57 | 0.08 |
| Grindrod Ltd. | 49,581 | 445,160 | 6.69 | 0.11 | 395,579 | 4.93 | 0.11 |
| Super Group Ltd. | 37,365 | 248,439 | 3.16 | 0.05 | 211,074 | 3.34 | 0.07 |
| Industrial Transportation Total | 86,946 | 693,599 | 9.85 | 0.16 | 606,653 | 8.27 | 0.18 |
| Alexander Forbes Group Holdings Ltd. | 19,185 | 166,237 | 1.28 | 0.02 | 147,052 | 1.32 | 0.03 |
| Coronation Fund Managers Ltd. | 27,423 | 211,845 | 9.43 | 0.16 | 184,422 | 7.29 | 0.16 |
| Hosken Consolidated Investments Ltd. | 6,005 | 35,768 | 4.42 | 0.07 | 29,763 | 3.79 | 0.08 |
| JSE Ltd. | 10,549 | 62,200 | 7.93 | 0.13 | 51,651 | 6.88 | 0.15 |
| Ninety One Ltd. | 24,133 | 151,960 | 6.91 | 0.11 | 127,827 | 5.54 | 0.12 |
| Ninety One plc | 14,312 | 132,540 | 6.22 | 0.10 | 118,228 | 5.28 | 0.12 |
| PSG Financial Services Ltd. | 125,504 | 747,539 | 17.04 | 0.28 | 622,035 | 13.77 | 0.30 |
| Quilter plc | 62,137 | 551,962 | 21.13 | 0.35 | 489,825 | 18.62 | 0.41 |
| Reinet Investments SCA | 16,285 | 98,286 | 49.63 | 0.82 | 82,001 | 47.24 | 1.05 |
| Remgro Ltd. | 57,811 | 366,167 | 61.42 | 1.01 | 308,356 | 48.78 | 1.08 |
| Investment Banking and Brokerage Services Total | 363,344 | 2,524,504 | 185.42 | 3.05 | 2,161,160 | 158.52 | 3.51 |
| Discovery Ltd. | 64,613 | 395,738 | 77.96 | 1.28 | 331,125 | 71.13 | 1.57 |
| Momentum Group Ltd. | 137,066 | 932,850 | 30.59 | 0.50 | 795,784 | 27.29 | 0.60 |
| Old Mutual Ltd. | 468,523 | 2,967,542 | 39.62 | 0.65 | 2,499,019 | 30.16 | 0.67 |
| Sanlam Ltd. | 204,005 | 1,292,133 | 108.01 | 1.78 | 1,088,128 | 96.48 | 2.14 |
| Life Insurance Total | 874,207 | 5,588,263 | 256.17 | 4.21 | 4,714,056 | 225.06 | 4.98 |
| OUTsurance Group Ltd. | 107,431 | 638,602 | 45.79 | 0.75 | 531,171 | 41.61 | 0.92 |
| Santam Ltd. | 5,240 | 30,898 | 11.68 | 0.19 | 25,658 | 10.98 | 0.24 |
| Non-life Insurance Total | 112,671 | 669,500 | 57.46 | 0.94 | 556,829 | 52.59 | 1.16 |
| Exxaro Resources Ltd. | 25,906 | 176,310 | 31.77 | 0.52 | 150,404 | 22.10 | 0.49 |
| Thungela Resources Ltd. | 14,264 | 84,100 | 7.36 | 0.12 | 69,836 | 5.92 | 0.13 |
| Oil, Gas and Coal Total | 40,170 | 260,410 | 39.13 | 0.64 | 220,240 | 28.02 | 0.62 |
| Bid Corporation Ltd. | 40,046 | 247,368 | 106.92 | 1.76 | 207,322 | 96.91 | 2.15 |
| Boxer Retail Ltd. | 20,524 | 121,009 | 8.37 | 0.14 | 100,485 | 6.96 | 0.15 |
| Clicks Group Ltd. | 27,552 | 174,506 | 61.50 | 1.01 | 146,954 | 54.52 | 1.21 |
| Dis-Chem Pharmacies Ltd. | 76,585 | 386,722 | 12.66 | 0.21 | 310,137 | 10.02 | 0.22 |
| Pick n Pay Stores Ltd. | 68,934 | 410,591 | 10.42 | 0.17 | 341,657 | 9.16 | 0.20 |
| Shoprite Holdings Ltd. | 55,382 | 350,775 | 96.12 | 1.58 | 295,393 | 81.81 | 1.81 |
| The SPAR Group Ltd. | 23,870 | 142,179 | 14.02 | 0.23 | 118,309 | 12.76 | 0.28 |
| Personal Care, Drug and Grocery Stores Total | 312,893 | 1,833,150 | 310.02 | 5.10 | 1,520,257 | 272.13 | 6.02 |
| Compagnie Financière Richemont SA | 4,641 | 34,657 | 113.30 | 1.86 | 30,016 | 99.98 | 2.21 |
| Personal Goods Total | 4,641 | 34,657 | 113.30 | 1.86 | 30,016 | 99.98 | 2.21 |
| Adcock Ingram Holdings Ltd. | 2,310 | 38,666 | 2.78 | 0.05 | 36,356 | 1.83 | 0.04 |
| Aspen Pharmacare Holdings Ltd. | 45,428 | 287,736 | 27.88 | 0.46 | 242,308 | 28.95 | 0.64 |
| Pharmaceuticals and Biotechnology Total | 47,738 | 326,402 | 30.66 | 0.50 | 278,664 | 30.79 | 0.68 |
| AngloGold Ashanti plc | 41,617 | 261,551 | 317.40 | 5.22 | 219,934 | 176.15 | 3.90 |
| DRDGOLD Ltd. | 53,580 | 315,914 | 15.20 | 0.25 | 262,334 | 6.23 | 0.14 |
| Gold Fields Ltd. | 102,657 | 650,210 | 474.06 | 7.79 | 547,553 | 227.66 | 5.04 |
| Harmony Gold Mining Company Ltd. | 63,851 | 404,419 | 127.34 | 2.09 | 340,568 | 83.37 | 1.85 |
| Impala Platinum Holdings Ltd. | 90,973 | 576,208 | 127.08 | 2.09 | 485,235 | 77.12 | 1.71 |
| Northam Platinum Holdings Ltd. | 40,986 | 259,595 | 72.95 | 1.20 | 218,609 | 41.91 | 0.93 |
| Pan African Resources plc | 229,260 | 1,234,024 | 25.06 | 0.41 | 1,004,764 | 11.14 | 0.25 |
| Sibanye Stillwater Ltd. | 325,829 | 2,063,760 | 101.72 | 1.67 | 1,737,931 | 56.07 | 1.24 |
| Valterra Platinum Ltd. | 84,579 | 162,804 | 201.12 | 3.31 | 78,225 | 61.82 | 1.37 |
| Precious Metals and Mining Total | 1,033,332 | 5,928,485 | 1,461.94 | 24.03 | 4,895,153 | 741.46 | 16.41 |
| Fortress Real Estate Investments Ltd. | 130,707 | 930,978 | 21.48 | 0.35 | 800,271 | 16.07 | 0.36 |
| Lighthouse Properties plc | 124,645 | 793,561 | 6.23 | 0.10 | 668,916 | 5.44 | 0.12 |
| MAS plc | -20,790 | 276,863 | 5.88 | 0.10 | 297,653 | 7.22 | 0.16 |
| NEPI Rockcastle NV | 67,908 | 430,116 | 59.48 | 0.98 | 362,208 | 48.88 | 1.08 |
| Real Estate Investment and Services Total | 302,470 | 2,431,518 | 93.07 | 1.53 | 2,129,048 | 77.61 | 1.72 |
| Attacq Ltd. | 100,895 | 600,953 | 8.29 | 0.14 | 500,058 | 7.03 | 0.16 |
| Burstone Group Ltd. | 113,892 | 494,756 | 4.03 | 0.07 | 380,864 | 3.09 | 0.07 |
| Emira Property Fund Ltd. | 29,516 | 167,524 | 2.03 | 0.03 | 138,008 | 1.52 | 0.03 |
| Equites Property Fund Ltd. | 106,221 | 626,287 | 10.06 | 0.17 | 520,066 | 7.86 | 0.17 |
| Fairvest Ltd. | 224,527 | 1,323,829 | 7.29 | 0.12 | 1,099,302 | 5.74 | 0.13 |
| Growthpoint Properties Ltd. | 382,371 | 2,421,872 | 35.67 | 0.59 | 2,039,501 | 27.31 | 0.60 |
| Hammerson plc | 19,871 | 86,219 | 5.78 | 0.09 | 66,348 | 4.93 | 0.11 |
| Hyprop Investments Ltd. | 48,756 | 290,405 | 13.57 | 0.22 | 241,649 | 10.33 | 0.23 |
| Redefine Properties Ltd. | 811,307 | 5,138,672 | 25.54 | 0.42 | 4,327,365 | 19.82 | 0.44 |
| Resilient REIT Ltd. | 36,520 | 217,528 | 13.93 | 0.23 | 181,008 | 10.91 | 0.24 |
| SA Corporate Real Estate Ltd. | 33,372 | 1,791,237 | 5.55 | 0.09 | 1,757,865 | 5.48 | 0.12 |
| Shaftesbury Capital plc | 20,501 | 122,113 | 3.99 | 0.07 | 101,612 | 3.94 | 0.09 |
| Sirius Real Estate Ltd. | 42,185 | 347,472 | 7.82 | 0.13 | 305,287 | 7.24 | 0.16 |
| Stor-Age Property REIT Ltd. | 51,606 | 328,557 | 5.09 | 0.08 | 276,951 | 4.42 | 0.10 |
| Vukile Property Fund Ltd. | 147,123 | 931,851 | 19.33 | 0.32 | 784,728 | 15.40 | 0.34 |
| Real Estate Investment Trusts Total | 2,168,663 | 14,889,275 | 167.99 | 2.76 | 12,720,612 | 135.03 | 2.99 |
| Cashbuild Ltd. | -13,861 | 0 | 0.00 | 0.00 | 13,861 | 2.13 | 0.05 |
| Italtile Ltd. | 39,609 | 326,935 | 3.03 | 0.05 | 287,326 | 2.87 | 0.06 |
| Motus Holdings Ltd. | 22,687 | 114,938 | 11.95 | 0.20 | 92,251 | 8.68 | 0.19 |
| Mr Price Group Ltd. | 27,019 | 183,886 | 37.46 | 0.62 | 156,867 | 34.74 | 0.77 |
| Pepkor Holdings Ltd. | 1,072,800 | 2,710,041 | 65.88 | 1.08 | 1,637,241 | 44.58 | 0.99 |
| The Foschini Group Ltd. | 37,978 | 240,550 | 26.25 | 0.43 | 202,572 | 26.12 | 0.58 |
| Truworths International Ltd. | 42,366 | 268,339 | 14.68 | 0.24 | 225,973 | 16.14 | 0.36 |
| We Buy Cars Holdings Ltd. | 29,076 | 173,185 | 9.59 | 0.16 | 144,109 | 8.63 | 0.19 |
| Woolworths Holdings Ltd. | 108,805 | 645,013 | 32.44 | 0.53 | 536,208 | 27.75 | 0.61 |
| Retailers Total | 1,366,479 | 4,662,887 | 201.27 | 3.31 | 3,296,408 | 171.64 | 3.80 |
| Altron Ltd. | 22,259 | 183,727 | 3.35 | 0.06 | 161,468 | 3.57 | 0.08 |
| Bytes Technology Group plc | 13,267 | 56,780 | 5.24 | 0.09 | 43,513 | 5.48 | 0.12 |
| Datatec Ltd. | 34,192 | 165,180 | 9.92 | 0.16 | 130,988 | 8.55 | 0.19 |
| Naspers Ltd. | 18,064 | 116,617 | 729.40 | 11.99 | 98,553 | 543.56 | 12.03 |
| Prosus NV | 25,113 | 200,064 | 242.22 | 3.98 | 174,951 | 173.48 | 3.84 |
| Software and Computer Services Total | 112,895 | 722,368 | 990.14 | 16.27 | 609,473 | 734.64 | 16.26 |
| Blu Label Unlimited Group Ltd. | 59,683 | 379,977 | 4.56 | 0.07 | 320,294 | 4.58 | 0.10 |
| MTN Group Ltd. | 174,849 | 1,298,208 | 188.24 | 3.09 | 1,123,359 | 158.21 | 3.50 |
| MultiChoice Group Ltd. | 25,073 | 158,810 | 19.89 | 0.33 | 133,737 | 15.70 | 0.35 |
| Telkom SA SOC Ltd. | 34,207 | 201,691 | 10.32 | 0.17 | 167,484 | 9.04 | 0.20 |
| Vodacom Group Ltd. | 69,437 | 439,799 | 58.62 | 0.96 | 370,362 | 50.63 | 1.12 |
| Telecommunications Service Providers Total | 363,249 | 2,478,485 | 281.63 | 4.63 | 2,115,236 | 238.17 | 5.27 |
| British American Tobacco plc | 12,923 | 142,103 | 129.62 | 2.13 | 129,180 | 108.61 | 2.40 |
| Tobacco Total | 12,923 | 142,103 | 129.62 | 2.13 | 129,180 | 108.61 | 2.40 |
| Famous Brands Ltd. | 19,743 | 73,075 | 3.91 | 0.06 | 53,332 | 3.34 | 0.07 |
| Southern Sun Ltd. | 89,298 | 568,520 | 4.86 | 0.08 | 479,222 | 4.23 | 0.09 |
| Sun International Ltd. | 19,620 | 124,913 | 5.04 | 0.08 | 105,293 | 4.60 | 0.10 |
| Tsogo Sun Ltd. | 48,770 | 375,586 | 2.45 | 0.04 | 326,816 | 2.51 | 0.06 |
| Travel and Leisure Total | 177,431 | 1,142,094 | 16.26 | 0.27 | 964,663 | 14.68 | 0.32 |
| Portfolio Total | 10,110,257 | 60,374,065 | 6,084.42 | 100.00 | 50,263,808 | 4,517.25 | 100.00 |