| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 13,685 | 141,181 | 34.05 | 0.99 | 127,496 | 30.52 | 0.91 |
| Capitec Bank Holdings Ltd. | 1,072 | 13,826 | 57.00 | 1.66 | 12,754 | 53.00 | 1.57 |
| FirstRand Ltd. | 167,760 | 775,541 | 66.81 | 1.94 | 607,781 | 55.16 | 1.64 |
| Nedbank Group Ltd. | -55,706 | 0 | 0.00 | 0.00 | 55,706 | 14.83 | 0.44 |
| Standard Bank Group Ltd. | -1,445 | 209,284 | 63.72 | 1.85 | 210,729 | 61.20 | 1.82 |
| Banks Total | 125,366 | 1,139,832 | 221.57 | 6.45 | 1,014,466 | 214.70 | 6.38 |
| Anheuser-Busch InBev SA/NV | -872 | 0 | 0.00 | 0.00 | 872 | 0.93 | 0.03 |
| Beverages Total | -872 | 0 | 0.00 | 0.00 | 872 | 0.93 | 0.03 |
| SA Bond ASN694 | 0 | 25,738,000 | 26.79 | 0.78 | 25,738,000 | 26.86 | 0.80 |
| SA Bond BNDS | 0 | 0 | 0.00 | 0.00 | 0 | -2.24 | -0.07 |
| SA Bond I2033 | -371,531,000 | 0 | 0.00 | 0.00 | 371,531,000 | 525.79 | 15.62 |
| SA Bond IVC244 | 0 | 84,000,000 | 85.30 | 2.48 | 84,000,000 | 85.26 | 2.53 |
| SA Bond R2035 | 0 | 74,406,000 | 73.74 | 2.15 | 74,406,000 | 79.85 | 2.37 |
| SA Bond R2037 | 0 | 269,965,000 | 256.20 | 7.45 | 269,965,000 | 278.10 | 8.26 |
| SA Bond R2040 | 20,000 | 229,797,000 | 219.73 | 6.39 | 229,777,000 | 239.40 | 7.11 |
| SA Bond R213 | 580,660,000 | 637,125,000 | 601.12 | 17.49 | 56,465,000 | 56.56 | 1.68 |
| SA Bond RN2030 | 0 | 4,085,000 | 4.14 | 0.12 | 4,085,000 | 4.12 | 0.12 |
| Bond Total | 209,149,000 | 1,325,116,000 | 1,267.03 | 36.86 | 1,115,967,000 | 1,293.71 | 38.42 |
| Cash on call | 0 | 0 | -382.53 | -11.13 | 0 | -211.52 | -6.28 |
| Margin Account | 0 | 0 | 0.04 | 0.00 | 0 | 1.60 | 0.05 |
| Cash on call Total | 0 | 0 | -382.49 | -11.13 | 0 | -209.92 | -6.23 |
| Bond Derivative | 0 | 0 | -0.20 | -0.01 | 0 | 0.00 | 0.00 |
| Equity Derivative | 0 | 0 | 0.00 | 0.00 | 0 | 24.01 | 0.71 |
| Derivatives Total | 0 | 0 | -0.20 | -0.01 | 0 | 24.01 | 0.71 |
| Vangaurd FTSE All World ETF | 0 | 57,879 | 81.67 | 2.38 | 57,879 | 80.19 | 2.38 |
| Vanguard FTSE Emerging Markets ETF | 28,654 | 96,768 | 89.53 | 2.60 | 68,114 | 60.68 | 1.80 |
| Vanguard FTSE Pacific Index Fund ETF | 16,236 | 16,236 | 27.16 | 0.79 | 0 | 0.00 | 0.00 |
| Vanguard S&P 500 ETF | 10,500 | 10,500 | 107.40 | 3.12 | 0 | 0.00 | 0.00 |
| Vanguard Short Term Treasury ETF | 0 | 47,784 | 47.88 | 1.39 | 47,784 | 46.50 | 1.38 |
| Vanguard Total World Stock ETF | 0 | 72,302 | 171.19 | 4.98 | 72,302 | 169.00 | 5.02 |
| Equities Total | 55,390 | 301,469 | 524.83 | 15.27 | 246,079 | 356.36 | 10.58 |
| AVI Ltd. | 114,355 | 190,014 | 19.73 | 0.57 | 75,659 | 7.98 | 0.24 |
| Food Producers Total | 114,355 | 190,014 | 19.73 | 0.57 | 75,659 | 7.98 | 0.24 |
| Canada - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| European - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Foreign - Money Market | 0 | 0 | 110.47 | 3.21 | 0 | 105.80 | 3.14 |
| Hong Kong - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Japan - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| USA - Currency | 0 | 0 | 220.52 | 6.42 | 0 | 59.88 | 1.78 |
| For Currency Total | 0 | 0 | 330.98 | 9.63 | 0 | 165.68 | 4.92 |
| Foreign - Bonds | 0 | 0 | 52.34 | 1.52 | 0 | 50.93 | 1.51 |
| Foreign Invest Total | 0 | 0 | 52.34 | 1.52 | 0 | 50.93 | 1.51 |
| Mondi plc | -857 | 20,354 | 3.90 | 0.11 | 21,211 | 4.32 | 0.13 |
| The Bidvest Group Ltd. | -87,630 | 0 | 0.00 | 0.00 | 87,630 | 20.81 | 0.62 |
| General Industrials Total | -88,487 | 20,354 | 3.90 | 0.11 | 108,841 | 25.13 | 0.75 |
| Anglo American plc | -34,802 | 16,952 | 12.21 | 0.36 | 51,754 | 35.46 | 1.05 |
| BHP Group Ltd. | -29,416 | 4,254 | 2.58 | 0.08 | 33,670 | 17.07 | 0.51 |
| Glencore plc | 158,941 | 419,022 | 53.63 | 1.56 | 260,081 | 23.71 | 0.70 |
| Kumba Iron Ore Ltd. | -21,716 | 0 | 0.00 | 0.00 | 21,716 | 7.62 | 0.23 |
| Industrial Metals and Mining Total | 73,007 | 440,228 | 68.41 | 1.99 | 367,221 | 83.86 | 2.49 |
| Quilter plc | 18,896 | 195,010 | 7.70 | 0.22 | 176,114 | 7.14 | 0.21 |
| Remgro Ltd. | -28,654 | 159,767 | 30.12 | 0.88 | 188,421 | 34.22 | 1.02 |
| Investment Banking and Brokerage Services Total | -9,758 | 354,777 | 37.82 | 1.10 | 364,535 | 41.36 | 1.23 |
| Old Mutual Ltd. | 113,456 | 1,616,706 | 22.31 | 0.65 | 1,503,250 | 22.40 | 0.67 |
| Sanlam Ltd. | -14,195 | 277,023 | 24.65 | 0.72 | 291,218 | 28.68 | 0.85 |
| Life Insurance Total | 99,261 | 1,893,729 | 46.96 | 1.37 | 1,794,468 | 51.08 | 1.52 |
| eMedia Holdings Ltd. | -40,422 | 41,484 | 0.09 | 0.00 | 81,906 | 0.18 | 0.01 |
| Media Total | -40,422 | 41,484 | 0.09 | 0.00 | 81,906 | 0.18 | 0.01 |
| Money Market - 10 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 39.97 | 1.19 |
| Money Market - 11 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 152.17 | 4.52 |
| Money Market - 23 months duration | 0 | 0 | 25.11 | 0.73 | 0 | 0.00 | 0.00 |
| Money Market - 24 months duration | 0 | 0 | 189.49 | 5.51 | 0 | 0.00 | 0.00 |
| Money Market - 28 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 189.64 | 5.63 |
| Money Market - 5 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 44.12 | 1.31 |
| Money Market - 6 months duration | 0 | 0 | 40.61 | 1.18 | 0 | 0.00 | 0.00 |
| Money Market - 7 months duration | 0 | 0 | 154.56 | 4.50 | 0 | 0.00 | 0.00 |
| Money Market - 9 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 23.64 | 0.70 |
| Money Market Total | 0 | 0 | 409.76 | 11.92 | 0 | 449.55 | 13.35 |
| Bid Corporation Ltd. | 66,209 | 92,720 | 37.79 | 1.10 | 26,511 | 11.18 | 0.33 |
| Boxer Retail Ltd. | -82,452 | 0 | 0.00 | 0.00 | 82,452 | 5.88 | 0.17 |
| Shoprite Holdings Ltd. | -4,867 | 108,989 | 30.06 | 0.87 | 113,856 | 30.77 | 0.91 |
| Personal Care, Drug and Grocery Stores Total | -21,110 | 201,709 | 67.85 | 1.97 | 222,819 | 47.83 | 1.42 |
| Compagnie Financière Richemont SA | 5,920 | 14,001 | 41.42 | 1.21 | 8,081 | 29.31 | 0.87 |
| Personal Goods Total | 5,920 | 14,001 | 41.42 | 1.21 | 8,081 | 29.31 | 0.87 |
| AngloGold Ashanti plc | 3,704 | 47,679 | 78.31 | 2.28 | 43,975 | 63.02 | 1.87 |
| Gold Fields Ltd. | 10,153 | 111,909 | 85.11 | 2.48 | 101,756 | 73.85 | 2.19 |
| Harmony Gold Mining Company Ltd. | -3,111 | 64,654 | 16.55 | 0.48 | 67,765 | 22.84 | 0.68 |
| Impala Platinum Holdings Ltd. | 33,557 | 83,350 | 19.91 | 0.58 | 49,793 | 13.05 | 0.39 |
| Northam Platinum Holdings Ltd. | -27,015 | 9,558 | 3.25 | 0.09 | 36,573 | 12.33 | 0.37 |
| Sibanye Stillwater Ltd. | 157,294 | 327,537 | 16.72 | 0.49 | 170,243 | 10.30 | 0.31 |
| Valterra Platinum Ltd. | -21,314 | 37,121 | 52.01 | 1.51 | 58,435 | 82.37 | 2.45 |
| Precious Metals and Mining Total | 153,268 | 681,808 | 271.86 | 7.91 | 528,540 | 277.75 | 8.25 |
| Growthpoint Properties Ltd. | -1,246,748 | 3,741,053 | 60.49 | 1.76 | 4,987,801 | 85.59 | 2.54 |
| Redefine Properties Ltd. | 0 | 4,465,823 | 26.57 | 0.77 | 4,465,823 | 26.79 | 0.80 |
| Vukile Property Fund Ltd. | 0 | 3,830,878 | 84.66 | 2.46 | 3,830,878 | 95.77 | 2.84 |
| Real Estate Investment Trusts Total | -1,246,748 | 12,037,754 | 171.73 | 5.00 | 13,284,502 | 208.16 | 6.18 |
| Motus Holdings Ltd. | -43,024 | 0 | 0.00 | 0.00 | 43,024 | 5.25 | 0.16 |
| Mr Price Group Ltd. | 114,221 | 184,331 | 28.27 | 0.82 | 70,110 | 12.27 | 0.36 |
| Pepkor Holdings Ltd. | 314,714 | 1,311,024 | 29.63 | 0.86 | 996,310 | 26.35 | 0.78 |
| The Foschini Group Ltd. | 46,792 | 46,792 | 3.30 | 0.10 | 0 | 0.00 | 0.00 |
| Truworths International Ltd. | -135,365 | 0 | 0.00 | 0.00 | 135,365 | 7.71 | 0.23 |
| Woolworths Holdings Ltd. | -122,626 | 162,789 | 8.26 | 0.24 | 285,415 | 15.98 | 0.47 |
| Retailers Total | 174,712 | 1,704,936 | 69.46 | 2.02 | 1,530,224 | 67.56 | 2.01 |
| Naspers Ltd. | 23,135 | 119,031 | 102.60 | 2.98 | 95,896 | 105.92 | 3.15 |
| Prosus NV | 32,915 | 68,369 | 52.55 | 1.53 | 35,454 | 36.29 | 1.08 |
| Software and Computer Services Total | 56,050 | 187,400 | 155.15 | 4.51 | 131,350 | 142.21 | 4.22 |
| MTN Group Ltd. | 54,258 | 262,091 | 51.23 | 1.49 | 207,833 | 35.23 | 1.05 |
| Telecommunications Service Providers Total | 54,258 | 262,091 | 51.23 | 1.49 | 207,833 | 35.23 | 1.05 |
| British American Tobacco plc | 4,423 | 8,029 | 7.97 | 0.23 | 3,606 | 3.39 | 0.10 |
| Tobacco Total | 4,423 | 8,029 | 7.97 | 0.23 | 3,606 | 3.39 | 0.10 |
| Portfolio Total | 208,657,613 | 1,344,595,615 | 3,437.41 | 100.00 | 1,135,938,002 | 3,366.98 | 100.00 |