| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | 0 | 790 | 3.28 | 2.22 | 790 | 2.74 | 2.07 |
| FirstRand Ltd. | 0 | 45,270 | 4.11 | 2.78 | 45,270 | 3.52 | 2.66 |
| Standard Bank Group Ltd. | 0 | 10,897 | 3.16 | 2.14 | 10,897 | 2.57 | 1.94 |
| Nu Holdings Ltd | 0 | 5,640 | 1.57 | 1.07 | 5,640 | 1.55 | 1.17 |
| Banks Total | 0 | 62,597 | 12.13 | 8.21 | 62,597 | 10.39 | 7.84 |
| Anheuser-Busch InBev SA/NV | 280 | 1,993 | 2.13 | 1.44 | 1,713 | 1.77 | 1.33 |
| Beverages Total | 280 | 1,993 | 2.13 | 1.44 | 1,713 | 1.77 | 1.33 |
| Cash on call | 0 | 0 | 25.34 | 17.14 | 0 | 20.54 | 15.49 |
| Cash on call Total | 0 | 0 | 25.34 | 17.14 | 0 | 20.54 | 15.49 |
| Thermo Fisher Scientific Inc | 0 | 99 | 0.96 | 0.65 | 99 | 0.79 | 0.60 |
| Chemicals Total | 0 | 99 | 0.96 | 0.65 | 99 | 0.79 | 0.60 |
| Alphabet Inc C | 0 | 227 | 1.18 | 0.80 | 227 | 0.96 | 0.72 |
| Cyclical Goods & Services Total | 0 | 227 | 1.18 | 0.80 | 227 | 0.96 | 0.72 |
| Sygnia Itrix MSCI USA Index ETF | 0 | 3,429 | 0.37 | 0.25 | 3,429 | 0.37 | 0.28 |
| Sygnia Itrix MSCI World Index ETF | 0 | 5,143 | 0.38 | 0.26 | 5,143 | 0.38 | 0.29 |
| Exchange Traded Funds Total | 0 | 8,572 | 0.75 | 0.51 | 8,572 | 0.75 | 0.57 |
| AMC - Absa Global Equity | 1,786 | 1,786 | 0.38 | 0.26 | 0 | 0.00 | 0.00 |
| Exchange Traded Notes Total | 1,786 | 1,786 | 0.38 | 0.26 | 0 | 0.00 | 0.00 |
| Mercadolibre Inc | 15 | 15 | 0.50 | 0.34 | 0 | 0.00 | 0.00 |
| Financial Services Total | 15 | 15 | 0.50 | 0.34 | 0 | 0.00 | 0.00 |
| Yum China Holdings Inc | 0 | 60 | 0.05 | 0.03 | 60 | 0.05 | 0.03 |
| Food & Beverage Total | 0 | 60 | 0.05 | 0.03 | 60 | 0.05 | 0.03 |
| USA - Currency | 0 | 0 | 3.08 | 2.09 | 0 | 0.00 | 0.00 |
| For Currency Total | 0 | 0 | 3.08 | 2.09 | 0 | 0.00 | 0.00 |
| Foreign - Equities | 0 | 0 | 0.52 | 0.35 | 0 | 0.38 | 0.29 |
| USA - Foreign Investments | 0 | 0 | 0.00 | 0.00 | 0 | 2.15 | 1.62 |
| Foreign Invest Total | 0 | 0 | 0.52 | 0.35 | 0 | 2.53 | 1.91 |
| SPW Equity - B1 | 0 | 81,355 | 3.26 | 2.20 | 81,355 | 2.99 | 2.26 |
| General Equity Total | 0 | 81,355 | 3.26 | 2.20 | 81,355 | 2.99 | 2.26 |
| Mondi plc | 0 | 6,500 | 1.32 | 0.90 | 6,500 | 1.54 | 1.16 |
| The Bidvest Group Ltd. | 0 | 20,555 | 4.88 | 3.30 | 20,555 | 4.34 | 3.27 |
| General Industrials Total | 0 | 27,055 | 6.21 | 4.20 | 27,055 | 5.87 | 4.43 |
| Procter & Gamble Company | 0 | 188 | 0.45 | 0.30 | 188 | 0.50 | 0.38 |
| Goods & Services Total | 0 | 188 | 0.45 | 0.30 | 188 | 0.50 | 0.38 |
| Intuitive Surgical Inc | 22 | 22 | 0.24 | 0.16 | 0 | 0.00 | 0.00 |
| Novo-Nordisk A/S | -700 | 0 | 0.00 | 0.00 | 700 | 0.67 | 0.51 |
| Novozymes A/S | 700 | 700 | 0.59 | 0.40 | 0 | 0.00 | 0.00 |
| Healthcare Total | 22 | 722 | 0.84 | 0.57 | 700 | 0.67 | 0.51 |
| Afrimat Ltd. | 7,750 | 83,714 | 3.45 | 2.33 | 75,964 | 2.90 | 2.19 |
| Anglo American plc | 0 | 8,332 | 5.71 | 3.86 | 8,332 | 5.37 | 4.05 |
| BHP Group Ltd. | 0 | 5,374 | 2.73 | 1.84 | 5,374 | 2.57 | 1.94 |
| Glencore plc | 0 | 58,025 | 5.29 | 3.58 | 58,025 | 4.64 | 3.50 |
| Merafe Resources Ltd. | 0 | 800,829 | 0.87 | 0.59 | 800,829 | 0.86 | 0.65 |
| Industrial Metals and Mining Total | 7,750 | 956,274 | 18.04 | 12.21 | 948,524 | 16.34 | 12.33 |
| Berkshire Hathaway Inc | 0 | 146 | 1.22 | 0.82 | 146 | 1.26 | 0.95 |
| Insurance Total | 0 | 146 | 1.22 | 0.82 | 146 | 1.26 | 0.95 |
| JSE Ltd. | 0 | 18,586 | 2.67 | 1.80 | 18,586 | 2.37 | 1.79 |
| Reinet Investments SCA | 0 | 7,640 | 4.43 | 3.00 | 7,640 | 3.86 | 2.91 |
| Remgro Ltd. | 0 | 15,522 | 2.82 | 1.91 | 15,522 | 2.62 | 1.98 |
| Investment Banking and Brokerage Services Total | 0 | 41,748 | 9.92 | 6.71 | 41,748 | 8.86 | 6.68 |
| eMedia Holdings Ltd. | 0 | 6,513 | 0.01 | 0.01 | 6,513 | 0.01 | 0.01 |
| Media Total | 0 | 6,513 | 0.01 | 0.01 | 6,513 | 0.01 | 0.01 |
| OUTsurance Group Ltd. | 0 | 20,130 | 1.44 | 0.98 | 20,130 | 1.44 | 1.08 |
| Non-life Insurance Total | 0 | 20,130 | 1.44 | 0.98 | 20,130 | 1.44 | 1.08 |
| Bid Corporation Ltd. | 960 | 10,757 | 4.54 | 3.07 | 9,797 | 4.23 | 3.19 |
| Boxer Retail Ltd. | 0 | 26,274 | 1.87 | 1.27 | 26,274 | 1.80 | 1.36 |
| Clicks Group Ltd. | 1,510 | 9,500 | 3.20 | 2.16 | 7,990 | 2.83 | 2.13 |
| Shoprite Holdings Ltd. | 0 | 15,127 | 4.09 | 2.77 | 15,127 | 4.15 | 3.13 |
| Personal Care, Drug and Grocery Stores Total | 2,470 | 61,658 | 13.70 | 9.27 | 59,188 | 13.00 | 9.81 |
| Compagnie Financière Richemont SA | 0 | 1,970 | 7.15 | 4.83 | 1,970 | 6.44 | 4.86 |
| Personal Goods Total | 0 | 1,970 | 7.15 | 4.83 | 1,970 | 6.44 | 4.86 |
| Aspen Pharmacare Holdings Ltd. | 0 | 31,042 | 3.63 | 2.45 | 31,042 | 2.98 | 2.25 |
| Pharmaceuticals and Biotechnology Total | 0 | 31,042 | 3.63 | 2.45 | 31,042 | 2.98 | 2.25 |
| Gold Fields Ltd. | 0 | 5,000 | 3.63 | 2.45 | 5,000 | 3.59 | 2.70 |
| Northam Platinum Holdings Ltd. | 0 | 17,700 | 5.97 | 4.04 | 17,700 | 4.94 | 3.73 |
| Valterra Platinum Ltd. | 0 | 1,230 | 1.73 | 1.17 | 1,230 | 1.49 | 1.12 |
| Precious Metals and Mining Total | 0 | 23,930 | 11.33 | 7.66 | 23,930 | 10.01 | 7.55 |
| Pepkor Holdings Ltd. | 0 | 58,008 | 1.53 | 1.04 | 58,008 | 1.42 | 1.07 |
| Retailers Total | 0 | 58,008 | 1.53 | 1.04 | 58,008 | 1.42 | 1.07 |
| Naspers Ltd. | 4,612 | 5,765 | 6.37 | 4.31 | 1,153 | 7.27 | 5.48 |
| Prosus NV | 475 | 7,786 | 7.97 | 5.39 | 7,311 | 8.95 | 6.75 |
| Software and Computer Services Total | 5,087 | 13,551 | 14.34 | 9.70 | 8,464 | 16.22 | 12.24 |
| Amazon.Com | 0 | 136 | 0.52 | 0.35 | 136 | 0.52 | 0.39 |
| Automatic Data Processing | 60 | 60 | 0.26 | 0.18 | 0 | 0.00 | 0.00 |
| Fiserv Incorporated | 350 | 519 | 0.58 | 0.39 | 169 | 0.38 | 0.29 |
| Microsoft Corporation | 0 | 51 | 0.41 | 0.28 | 51 | 0.45 | 0.34 |
| Technology Total | 410 | 766 | 1.77 | 1.20 | 356 | 1.36 | 1.02 |
| British American Tobacco plc | 300 | 6,251 | 5.97 | 4.04 | 5,951 | 5.42 | 4.09 |
| Tobacco Total | 300 | 6,251 | 5.97 | 4.04 | 5,951 | 5.42 | 4.09 |
| Portfolio Total | 18,120 | 1,406,656 | 147.81 | 100.00 | 1,388,536 | 132.57 | 100.00 |