| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Montauk Renewables Inc. | -45,780 | 0 | 0.00 | 0.00 | 45,780 | 1.33 | 0.02 |
| Alternative Energy Total | -45,780 | 0 | 0.00 | 0.00 | 45,780 | 1.33 | 0.02 |
| Absa Group Ltd. | 66,834 | 724,731 | 174.80 | 2.34 | 657,897 | 157.47 | 2.26 |
| Capitec Bank Holdings Ltd. | 7,998 | 76,711 | 316.23 | 4.24 | 68,713 | 285.56 | 4.10 |
| FirstRand Ltd. | 400,020 | 4,467,311 | 384.81 | 5.16 | 4,067,291 | 369.11 | 5.30 |
| Investec Ltd. | 12,975 | 210,712 | 26.88 | 0.36 | 197,737 | 24.16 | 0.35 |
| Investec plc | 20,114 | 296,783 | 38.38 | 0.51 | 276,669 | 33.80 | 0.48 |
| Nedbank Group Ltd. | 30,053 | 390,220 | 104.10 | 1.40 | 360,167 | 95.90 | 1.38 |
| Standard Bank Group Ltd. | 98,415 | 1,149,485 | 349.96 | 4.69 | 1,051,070 | 305.23 | 4.38 |
| Banks Total | 636,409 | 7,315,953 | 1,395.16 | 18.70 | 6,679,544 | 1,271.23 | 18.24 |
| Anheuser-Busch InBev SA/NV | 6,551 | 82,305 | 97.01 | 1.30 | 75,754 | 81.09 | 1.16 |
| Beverages Total | 6,551 | 82,305 | 97.01 | 1.30 | 75,754 | 81.09 | 1.16 |
| Cash on call | 0 | 0 | 24.32 | 0.33 | 0 | 17.03 | 0.24 |
| Margin Account | 0 | 0 | 5.14 | 0.07 | 0 | 7.79 | 0.11 |
| Cash on call Total | 0 | 0 | 29.45 | 0.39 | 0 | 24.82 | 0.36 |
| AECI Ltd. | 9,262 | 93,890 | 10.73 | 0.14 | 84,628 | 7.56 | 0.11 |
| Omnia Holdings Ltd. | 15,558 | 138,952 | 13.27 | 0.18 | 123,394 | 9.72 | 0.14 |
| Sasol Ltd. | 41,763 | 516,105 | 116.31 | 1.56 | 474,342 | 50.38 | 0.72 |
| Chemicals Total | 66,583 | 748,947 | 140.32 | 1.88 | 682,364 | 67.66 | 0.97 |
| PPC Ltd. | 118,737 | 1,184,322 | 7.03 | 0.09 | 1,065,585 | 5.96 | 0.09 |
| Raubex Group Ltd. | 12,670 | 153,408 | 7.47 | 0.10 | 140,738 | 6.27 | 0.09 |
| Wilson Bayly Holmes - Ovcon Ltd. | 7,723 | 47,546 | 7.37 | 0.10 | 39,823 | 6.65 | 0.10 |
| Construction and Materials Total | 139,130 | 1,385,276 | 21.88 | 0.29 | 1,246,146 | 18.88 | 0.27 |
| Advtech Ltd. | 29,609 | 429,604 | 18.13 | 0.24 | 399,995 | 14.89 | 0.21 |
| Curro Holdings Ltd. | -384,566 | 0 | 0.00 | 0.00 | 384,566 | 5.51 | 0.08 |
| Consumer Services Total | -354,957 | 429,604 | 18.13 | 0.24 | 784,561 | 20.41 | 0.29 |
| Equity Derivative | 0 | 0 | 66.27 | 0.89 | 0 | 96.22 | 1.38 |
| Derivatives Total | 0 | 0 | 66.27 | 0.89 | 0 | 96.22 | 1.38 |
| Reunert Ltd. | 16,225 | 135,229 | 8.81 | 0.12 | 119,004 | 7.42 | 0.11 |
| Electronic and Electrical Equipment Total | 16,225 | 135,229 | 8.81 | 0.12 | 119,004 | 7.42 | 0.11 |
| Channel VAS Investments Ltd. | 197,966 | 197,966 | 3.88 | 0.05 | 0 | 0.00 | 0.00 |
| Finance and Credit Services Total | 197,966 | 197,966 | 3.88 | 0.05 | 0 | 0.00 | 0.00 |
| Astral Foods Ltd. | 2,617 | 33,871 | 8.64 | 0.12 | 31,254 | 8.34 | 0.12 |
| AVI Ltd. | 19,874 | 294,711 | 30.61 | 0.41 | 274,837 | 29.00 | 0.42 |
| Oceana Group Ltd. | 26,609 | 93,993 | 4.98 | 0.07 | 67,384 | 3.76 | 0.05 |
| Premier Group Ltd. | 21,520 | 21,520 | 3.75 | 0.05 | 0 | 0.00 | 0.00 |
| Tiger Brands Ltd. | 6,748 | 130,104 | 38.90 | 0.52 | 123,356 | 45.17 | 0.65 |
| Food Producers Total | 77,368 | 574,199 | 86.88 | 1.16 | 496,831 | 86.26 | 1.24 |
| KAP Ltd. | 9,202 | 2,318,221 | 4.73 | 0.06 | 2,309,019 | 4.43 | 0.06 |
| Mondi plc | 12,823 | 160,788 | 30.81 | 0.41 | 147,965 | 30.13 | 0.43 |
| The Bidvest Group Ltd. | 26,970 | 295,862 | 67.32 | 0.90 | 268,892 | 63.86 | 0.92 |
| General Industrials Total | 48,995 | 2,774,871 | 102.87 | 1.38 | 2,725,876 | 98.42 | 1.41 |
| Life Healthcare Group Holdings Ltd. | 22,244 | 1,189,578 | 13.74 | 0.18 | 1,167,334 | 13.30 | 0.19 |
| Netcare Ltd. | 113,059 | 1,193,979 | 19.72 | 0.26 | 1,080,920 | 17.11 | 0.25 |
| Health Care Providers Total | 135,303 | 2,383,557 | 33.46 | 0.45 | 2,248,254 | 30.41 | 0.44 |
| Sappi Ltd. | 53,899 | 548,213 | 9.25 | 0.12 | 494,314 | 12.14 | 0.17 |
| Industrial Materials Total | 53,899 | 548,213 | 9.25 | 0.12 | 494,314 | 12.14 | 0.17 |
| African Rainbow Minerals Ltd. | 9,182 | 85,309 | 19.70 | 0.26 | 76,127 | 15.14 | 0.22 |
| Afrimat Ltd. | 11,751 | 129,142 | 4.73 | 0.06 | 117,391 | 4.83 | 0.07 |
| Anglo American plc | 22,588 | 258,562 | 186.16 | 2.50 | 235,974 | 161.67 | 2.32 |
| BHP Group Ltd. | 1,195 | 116,707 | 70.72 | 0.95 | 115,512 | 58.58 | 0.84 |
| Glencore plc | 133,816 | 924,798 | 118.36 | 1.59 | 790,982 | 72.10 | 1.03 |
| Kumba Iron Ore Ltd. | 4,374 | 46,237 | 14.76 | 0.20 | 41,863 | 14.70 | 0.21 |
| South32 Ltd. | -329 | 197,266 | 10.06 | 0.13 | 197,595 | 7.77 | 0.11 |
| Industrial Metals and Mining Total | 182,577 | 1,758,021 | 424.50 | 5.69 | 1,575,444 | 334.79 | 4.80 |
| Hudaco Industries Ltd. | 1,303 | 23,668 | 4.49 | 0.06 | 22,365 | 4.58 | 0.07 |
| Industrial Support Services Total | 1,303 | 23,668 | 4.49 | 0.06 | 22,365 | 4.58 | 0.07 |
| Grindrod Ltd. | 22,046 | 536,553 | 10.06 | 0.13 | 514,507 | 8.75 | 0.13 |
| Super Group Ltd. | 25,468 | 295,896 | 5.04 | 0.07 | 270,428 | 5.11 | 0.07 |
| Industrial Transportation Total | 47,514 | 832,449 | 15.10 | 0.20 | 784,935 | 13.86 | 0.20 |
| Alexander Forbes Group Holdings Ltd. | 6,360 | 194,698 | 1.28 | 0.02 | 188,338 | 1.47 | 0.02 |
| Coronation Fund Managers Ltd. | -2,998 | 219,894 | 9.71 | 0.13 | 222,892 | 10.42 | 0.15 |
| Hosken Consolidated Investments Ltd. | 2,971 | 36,702 | 6.06 | 0.08 | 33,731 | 5.26 | 0.08 |
| JSE Ltd. | 7,906 | 73,350 | 11.72 | 0.16 | 65,444 | 9.39 | 0.13 |
| Ninety One Ltd. | 18,291 | 196,561 | 10.02 | 0.13 | 178,270 | 8.52 | 0.12 |
| Ninety One plc | 12,580 | 152,327 | 7.85 | 0.11 | 139,747 | 6.75 | 0.10 |
| PSG Financial Services Ltd. | 143,168 | 938,479 | 25.05 | 0.34 | 795,311 | 21.67 | 0.31 |
| Quilter plc | 49,785 | 615,174 | 24.27 | 0.33 | 565,389 | 22.93 | 0.33 |
| Reinet Investments SCA | 10,968 | 117,497 | 64.99 | 0.87 | 106,529 | 61.79 | 0.89 |
| Remgro Ltd. | 41,893 | 433,895 | 81.81 | 1.10 | 392,002 | 71.19 | 1.02 |
| Investment Banking and Brokerage Services Total | 290,924 | 2,978,577 | 242.74 | 3.25 | 2,687,653 | 219.39 | 3.15 |
| Discovery Ltd. | 42,724 | 470,585 | 116.85 | 1.57 | 427,861 | 97.37 | 1.40 |
| Momentum Group Ltd. | 63,062 | 1,072,813 | 38.57 | 0.52 | 1,009,751 | 38.61 | 0.55 |
| Old Mutual Ltd. | 262,146 | 3,485,966 | 48.11 | 0.64 | 3,223,820 | 48.03 | 0.69 |
| Sanlam Ltd. | 141,091 | 1,548,076 | 137.75 | 1.85 | 1,406,985 | 138.57 | 1.99 |
| Life Insurance Total | 509,023 | 6,577,440 | 341.27 | 4.58 | 6,068,417 | 322.59 | 4.63 |
| OUTsurance Group Ltd. | 70,904 | 751,162 | 52.28 | 0.70 | 680,258 | 48.75 | 0.70 |
| Santam Ltd. | 4,408 | 35,675 | 13.98 | 0.19 | 31,267 | 13.37 | 0.19 |
| Non-life Insurance Total | 75,312 | 786,837 | 66.26 | 0.89 | 711,525 | 62.11 | 0.89 |
| Exxaro Resources Ltd. | 15,218 | 208,324 | 46.79 | 0.63 | 193,106 | 34.57 | 0.50 |
| Thungela Resources Ltd. | 12,149 | 94,980 | 15.93 | 0.21 | 82,831 | 7.95 | 0.11 |
| Oil, Gas and Coal Total | 27,367 | 303,304 | 62.72 | 0.84 | 275,937 | 42.52 | 0.61 |
| Bid Corporation Ltd. | 26,136 | 293,757 | 119.73 | 1.61 | 267,621 | 112.90 | 1.62 |
| Boxer Retail Ltd. | 19,411 | 146,730 | 11.02 | 0.15 | 127,319 | 9.08 | 0.13 |
| Clicks Group Ltd. | 20,355 | 207,173 | 59.97 | 0.80 | 186,818 | 62.88 | 0.90 |
| Dis-Chem Pharmacies Ltd. | 38,961 | 469,484 | 17.47 | 0.23 | 430,523 | 15.07 | 0.22 |
| Pick n Pay Stores Ltd. | 37,202 | 469,205 | 8.96 | 0.12 | 432,003 | 10.76 | 0.15 |
| Shoprite Holdings Ltd. | 33,753 | 413,977 | 114.17 | 1.53 | 380,224 | 102.75 | 1.47 |
| The SPAR Group Ltd. | 11,917 | 172,857 | 10.85 | 0.15 | 160,940 | 15.37 | 0.22 |
| Personal Care, Drug and Grocery Stores Total | 187,735 | 2,173,183 | 342.17 | 4.59 | 1,985,448 | 328.81 | 4.72 |
| Compagnie Financière Richemont SA | 3,211 | 41,067 | 121.50 | 1.63 | 37,856 | 137.31 | 1.97 |
| Personal Goods Total | 3,211 | 41,067 | 121.50 | 1.63 | 37,856 | 137.31 | 1.97 |
| Aspen Pharmacare Holdings Ltd. | 31,942 | 345,105 | 45.35 | 0.61 | 313,163 | 36.57 | 0.52 |
| Pharmaceuticals and Biotechnology Total | 31,942 | 345,105 | 45.35 | 0.61 | 313,163 | 36.57 | 0.52 |
| AngloGold Ashanti plc | 17,661 | 295,519 | 485.36 | 6.51 | 277,858 | 398.21 | 5.71 |
| DRDGOLD Ltd. | 30,761 | 380,000 | 18.78 | 0.25 | 349,239 | 18.29 | 0.26 |
| Gold Fields Ltd. | 68,546 | 773,325 | 588.11 | 7.88 | 704,779 | 511.47 | 7.34 |
| Harmony Gold Mining Company Ltd. | 42,517 | 479,229 | 122.68 | 1.64 | 436,712 | 147.21 | 2.11 |
| Impala Platinum Holdings Ltd. | 62,574 | 685,658 | 163.82 | 2.20 | 623,084 | 163.25 | 2.34 |
| Northam Platinum Holdings Ltd. | 28,127 | 309,927 | 105.41 | 1.41 | 281,800 | 95.00 | 1.36 |
| Pan African Resources plc | 66,475 | 1,379,360 | 43.45 | 0.58 | 1,312,885 | 35.36 | 0.51 |
| Sibanye Stillwater Ltd. | 214,461 | 2,456,155 | 125.36 | 1.68 | 2,241,694 | 135.62 | 1.95 |
| Valterra Platinum Ltd. | 21,974 | 208,462 | 292.06 | 3.92 | 186,488 | 262.87 | 3.77 |
| Precious Metals and Mining Total | 553,096 | 6,967,635 | 1,945.04 | 26.08 | 6,414,539 | 1,767.26 | 25.35 |
| Fortress Real Estate Investments Ltd. | 97,916 | 1,089,621 | 24.08 | 0.32 | 991,705 | 23.70 | 0.34 |
| Lighthouse Properties plc | 107,316 | 1,043,428 | 7.77 | 0.10 | 936,112 | 7.91 | 0.11 |
| MAS plc | -15,919 | 278,637 | 5.46 | 0.07 | 294,556 | 6.65 | 0.10 |
| NEPI Rockcastle NV | 44,413 | 509,611 | 69.19 | 0.93 | 465,198 | 67.85 | 0.97 |
| Real Estate Investment and Services Total | 233,726 | 2,921,297 | 106.51 | 1.43 | 2,687,571 | 106.12 | 1.52 |
| Attacq Ltd. | 57,817 | 655,770 | 10.74 | 0.14 | 597,953 | 9.75 | 0.14 |
| Burstone Group Ltd. | 58,689 | 573,968 | 5.22 | 0.07 | 515,279 | 4.71 | 0.07 |
| Emira Property Fund Ltd. | 3,793 | 182,723 | 2.47 | 0.03 | 178,930 | 2.43 | 0.03 |
| Equites Property Fund Ltd. | 69,904 | 728,851 | 12.28 | 0.16 | 658,947 | 12.09 | 0.17 |
| Fairvest Ltd. | 17,948 | 1,613,839 | 10.30 | 0.14 | 1,595,891 | 11.46 | 0.16 |
| Growthpoint Properties Ltd. | 258,159 | 2,890,792 | 46.74 | 0.63 | 2,632,633 | 45.18 | 0.65 |
| Hammerson plc | 15,020 | 137,728 | 9.23 | 0.12 | 122,708 | 8.97 | 0.13 |
| Hyprop Investments Ltd. | 33,470 | 354,593 | 19.05 | 0.26 | 321,123 | 18.31 | 0.26 |
| Redefine Properties Ltd. | 701,105 | 6,012,680 | 35.78 | 0.48 | 5,311,575 | 31.87 | 0.46 |
| Resilient REIT Ltd. | 30,547 | 261,976 | 20.75 | 0.28 | 231,429 | 18.51 | 0.27 |
| SA Corporate Real Estate Ltd. | 167,859 | 2,073,565 | 6.74 | 0.09 | 1,905,706 | 6.86 | 0.10 |
| Shaftesbury Capital plc | 9,009 | 137,490 | 3.98 | 0.05 | 128,481 | 4.15 | 0.06 |
| Sirius Real Estate Ltd. | 30,687 | 397,052 | 8.37 | 0.11 | 366,365 | 7.95 | 0.11 |
| Stor-Age Property REIT Ltd. | 34,363 | 385,289 | 6.43 | 0.09 | 350,926 | 6.29 | 0.09 |
| Vukile Property Fund Ltd. | 81,988 | 1,169,785 | 25.85 | 0.35 | 1,087,797 | 27.19 | 0.39 |
| Real Estate Investment Trusts Total | 1,570,358 | 17,576,101 | 223.93 | 3.00 | 16,005,743 | 215.72 | 3.09 |
| Italtile Ltd. | 38,821 | 387,218 | 3.31 | 0.04 | 348,397 | 3.15 | 0.05 |
| Motus Holdings Ltd. | 12,163 | 133,350 | 15.47 | 0.21 | 121,187 | 14.78 | 0.21 |
| Mr Price Group Ltd. | 19,589 | 220,309 | 33.79 | 0.45 | 200,720 | 35.12 | 0.50 |
| Pepkor Holdings Ltd. | 291,292 | 3,218,135 | 72.73 | 0.98 | 2,926,843 | 77.41 | 1.11 |
| The Foschini Group Ltd. | 26,050 | 282,291 | 19.92 | 0.27 | 256,241 | 21.51 | 0.31 |
| Truworths International Ltd. | 35,586 | 321,074 | 16.59 | 0.22 | 285,488 | 16.25 | 0.23 |
| We Buy Cars Holdings Ltd. | 137,635 | 319,851 | 12.73 | 0.17 | 182,216 | 8.72 | 0.13 |
| Woolworths Holdings Ltd. | 86,139 | 784,748 | 39.80 | 0.53 | 698,609 | 39.12 | 0.56 |
| Retailers Total | 647,275 | 5,666,976 | 214.34 | 2.87 | 5,019,701 | 216.07 | 3.10 |
| Altron Ltd. | 34,419 | 229,040 | 4.55 | 0.06 | 194,621 | 3.87 | 0.06 |
| Bytes Technology Group plc | 30,825 | 129,363 | 8.08 | 0.11 | 98,538 | 8.03 | 0.12 |
| Datatec Ltd. | 19,408 | 184,683 | 12.94 | 0.17 | 165,275 | 13.06 | 0.19 |
| Naspers Ltd. | 58,113 | 661,048 | 569.80 | 7.64 | 602,935 | 665.95 | 9.55 |
| Prosus NV | 5,570 | 193,350 | 148.62 | 1.99 | 187,780 | 192.20 | 2.76 |
| Software and Computer Services Total | 148,335 | 1,397,484 | 743.99 | 9.97 | 1,249,149 | 883.11 | 12.67 |
| Blu Label Unlimited Group Ltd. | 49,874 | 579,439 | 4.83 | 0.06 | 529,565 | 5.58 | 0.08 |
| MTN Group Ltd. | 139,959 | 1,540,943 | 301.18 | 4.04 | 1,400,984 | 237.47 | 3.41 |
| Telkom SA SOC Ltd. | 16,792 | 243,672 | 14.33 | 0.19 | 226,880 | 13.39 | 0.19 |
| Vodacom Group Ltd. | 45,807 | 521,688 | 75.29 | 1.01 | 475,881 | 67.25 | 0.96 |
| Telecommunications Service Providers Total | 252,432 | 2,885,742 | 395.63 | 5.30 | 2,633,310 | 323.68 | 4.64 |
| British American Tobacco plc | 1,036 | 130,427 | 129.39 | 1.73 | 129,391 | 121.79 | 1.75 |
| Tobacco Total | 1,036 | 130,427 | 129.39 | 1.73 | 129,391 | 121.79 | 1.75 |
| Famous Brands Ltd. | 5,392 | 82,277 | 4.15 | 0.06 | 76,885 | 4.11 | 0.06 |
| Southern Sun Ltd. | 59,459 | 666,685 | 6.80 | 0.09 | 607,226 | 6.22 | 0.09 |
| Sun International Ltd. | 11,731 | 146,355 | 6.93 | 0.09 | 134,624 | 5.20 | 0.07 |
| Tsogo Sun Ltd. | 40,259 | 441,415 | 3.04 | 0.04 | 401,156 | 2.81 | 0.04 |
| Travel and Leisure Total | 116,841 | 1,336,732 | 20.93 | 0.28 | 1,219,891 | 18.34 | 0.26 |
| Portfolio Total | 5,857,699 | 71,278,165 | 7,459.21 | 100.00 | 65,420,466 | 6,970.89 | 100.00 |