| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -6,776 | 28,100 | 6.71 | 0.67 | 34,876 | 8.35 | 0.82 |
| Capitec Bank Holdings Ltd. | 1,135 | 3,408 | 13.92 | 1.38 | 2,273 | 9.45 | 0.93 |
| FirstRand Ltd. | 16,201 | 303,863 | 26.79 | 2.66 | 287,662 | 26.11 | 2.58 |
| Investec Ltd. | 466 | 20,616 | 2.63 | 0.26 | 20,150 | 2.46 | 0.24 |
| Investec plc | 326 | 2,040 | 0.26 | 0.03 | 1,714 | 0.21 | 0.02 |
| Nedbank Group Ltd. | -4,671 | 4,899 | 1.31 | 0.13 | 9,570 | 2.55 | 0.25 |
| Standard Bank Group Ltd. | 6,463 | 74,936 | 22.59 | 2.24 | 68,473 | 19.88 | 1.96 |
| Banks Total | 13,144 | 437,862 | 74.22 | 7.36 | 424,718 | 69.00 | 6.81 |
| Anheuser-Busch InBev SA/NV | -481 | 2,733 | 3.22 | 0.32 | 3,214 | 3.44 | 0.34 |
| Beverages Total | -481 | 2,733 | 3.22 | 0.32 | 3,214 | 3.44 | 0.34 |
| SA Bond AGT05 | 0 | 1,200,000 | 1.25 | 0.12 | 1,200,000 | 1.25 | 0.12 |
| SA Bond AGT08 | 0 | 3,000,000 | 3.10 | 0.31 | 3,000,000 | 3.06 | 0.30 |
| SA Bond R2030 | -13,000,000 | 0 | 0.00 | 0.00 | 13,000,000 | 13.73 | 1.36 |
| SA Bond R2035 | 0 | 1,900,000 | 1.88 | 0.19 | 1,900,000 | 2.04 | 0.20 |
| SA Bond R2037 | 0 | 600,000 | 0.57 | 0.06 | 600,000 | 0.62 | 0.06 |
| SA Bond R209 | 0 | 1,500,000 | 1.20 | 0.12 | 1,500,000 | 1.31 | 0.13 |
| SA Bond R214 | 2,000,000 | 2,000,000 | 1.51 | 0.15 | 0 | 0.00 | 0.00 |
| SA Bond SBT107 | 0 | 2,100,000 | 2.19 | 0.22 | 2,100,000 | 2.20 | 0.22 |
| SA Bond SBT109 | 0 | 600,000 | 0.62 | 0.06 | 600,000 | 0.62 | 0.06 |
| Bond Total | -11,000,000 | 12,900,000 | 12.33 | 1.22 | 23,900,000 | 24.83 | 2.45 |
| Ishares 20+ USD Treasury Bond ETF | 0 | 11,704 | 17.28 | 1.71 | 11,704 | 17.01 | 1.68 |
| Bonds Total | 0 | 11,704 | 17.28 | 1.71 | 11,704 | 17.01 | 1.68 |
| Cash on call | 0 | 0 | 34.99 | 3.47 | 0 | 25.76 | 2.54 |
| Margin Account | 0 | 0 | 0.89 | 0.09 | 0 | 1.01 | 0.10 |
| Cash on call Total | 0 | 0 | 35.89 | 3.56 | 0 | 26.77 | 2.64 |
| Sasol Ltd. | -11,105 | 19,712 | 4.43 | 0.44 | 30,817 | 3.27 | 0.32 |
| Chemicals Total | -11,105 | 19,712 | 4.43 | 0.44 | 30,817 | 3.27 | 0.32 |
| PPC Ltd. | 220,490 | 220,490 | 1.31 | 0.13 | 0 | 0.00 | 0.00 |
| Raubex Group Ltd. | 6,462 | 6,462 | 0.31 | 0.03 | 0 | 0.00 | 0.00 |
| Wilson Bayly Holmes - Ovcon Ltd. | 11,132 | 11,132 | 1.71 | 0.17 | 0 | 0.00 | 0.00 |
| Construction and Materials Total | 238,084 | 238,084 | 3.34 | 0.33 | 0 | 0.00 | 0.00 |
| Accenture Ltd | 124 | 922 | 3.10 | 0.31 | 798 | 3.56 | 0.35 |
| Alphabet Inc C | -672 | 598 | 2.78 | 0.28 | 1,270 | 6.61 | 0.65 |
| Bureau Veritas SA | -6,690 | 0 | 0.00 | 0.00 | 6,690 | 3.53 | 0.35 |
| Tencent Holdings Ltd | -3,377 | 1,126 | 1.18 | 0.12 | 4,503 | 5.73 | 0.57 |
| Cyclical Goods & Services Total | -10,615 | 2,646 | 7.06 | 0.70 | 13,261 | 19.43 | 1.92 |
| Reunert Ltd. | -2,322 | 2,071 | 0.13 | 0.01 | 4,393 | 0.27 | 0.03 |
| Electronic and Electrical Equipment Total | -2,322 | 2,071 | 0.13 | 0.01 | 4,393 | 0.27 | 0.03 |
| KraneShares CSI China Internet ETF | 0 | 25,996 | 12.29 | 1.22 | 25,996 | 14.79 | 1.46 |
| Petroleo Brasileiro SA (Petrobras) | 15,101 | 15,101 | 5.35 | 0.53 | 0 | 0.00 | 0.00 |
| Vanguard S&P 500 ETF | 0 | 172 | 1.70 | 0.17 | 172 | 1.80 | 0.18 |
| Vanguard Total Stock Market Index Fund ETF | 4,672 | 4,672 | 5.93 | 0.59 | 0 | 0.00 | 0.00 |
| Equities Total | 19,773 | 45,941 | 25.26 | 2.51 | 26,168 | 16.58 | 1.64 |
| 1nvestRhodium ETF | -708 | 0 | 0.00 | 0.00 | 708 | 0.99 | 0.10 |
| NewGold | -2,768 | 0 | 0.00 | 0.00 | 2,768 | 1.84 | 0.18 |
| Exchange Traded Funds Total | -3,476 | 0 | 0.00 | 0.00 | 3,476 | 2.83 | 0.28 |
| PayPal Holdings Inc | 5,639 | 5,639 | 4.29 | 0.43 | 0 | 0.00 | 0.00 |
| Financial Services Total | 5,639 | 5,639 | 4.29 | 0.43 | 0 | 0.00 | 0.00 |
| S&P Global Inc | -368 | 0 | 0.00 | 0.00 | 368 | 3.21 | 0.32 |
| Financials Total | -368 | 0 | 0.00 | 0.00 | 368 | 3.21 | 0.32 |
| Centaur BCI Flexible - C | 129,641 | 10,655,634 | 135.25 | 13.42 | 10,525,993 | 141.64 | 13.98 |
| PSG Flexible - E | 0 | 7,099,466 | 79.70 | 7.91 | 7,099,466 | 74.44 | 7.35 |
| Flexible Total | 129,641 | 17,755,100 | 214.95 | 21.33 | 17,625,459 | 216.08 | 21.33 |
| Anheuser Busch InBev | 928 | 928 | 1.09 | 0.11 | 0 | 0.00 | 0.00 |
| Heineken Holding NV | 1,818 | 1,818 | 2.35 | 0.23 | 0 | 0.00 | 0.00 |
| Food & Beverage Total | 2,746 | 2,746 | 3.45 | 0.34 | 0 | 0.00 | 0.00 |
| Astral Foods Ltd. | 364 | 5,973 | 1.52 | 0.15 | 5,609 | 1.50 | 0.15 |
| AVI Ltd. | 4,848 | 53,196 | 5.52 | 0.55 | 48,348 | 5.10 | 0.50 |
| Premier Group Ltd. | 15,222 | 38,659 | 6.71 | 0.67 | 23,437 | 3.93 | 0.39 |
| RFG Holdings Ltd. | -106,560 | 0 | 0.00 | 0.00 | 106,560 | 2.47 | 0.24 |
| Tiger Brands Ltd. | 4,720 | 5,610 | 1.69 | 0.17 | 890 | 0.33 | 0.03 |
| Food Producers Total | -81,406 | 103,438 | 15.44 | 1.53 | 184,844 | 13.32 | 1.31 |
| Australia - Currency | 0 | 0 | 0.02 | 0.00 | 0 | 0.02 | 0.00 |
| Denmark - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| European - Currency | 0 | 0 | 2.92 | 0.29 | 0 | 2.88 | 0.28 |
| Hong Kong - Currency | 0 | 0 | 0.18 | 0.02 | 0 | 2.07 | 0.20 |
| Norway - Cash | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Sweden - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Switzerland - Currency | 0 | 0 | 0.05 | 0.01 | 0 | 0.05 | 0.01 |
| United Kingdom - Currency | 0 | 0 | 0.12 | 0.01 | 0 | 0.12 | 0.01 |
| USA - Currency | 0 | 0 | 28.20 | 2.80 | 0 | 15.39 | 1.52 |
| For Currency Total | 0 | 0 | 31.50 | 3.13 | 0 | 20.54 | 2.03 |
| Foreign - Equities | -5,914 | 0 | 23.59 | 2.34 | 5,914 | 6.08 | 0.60 |
| Foreign - Unit Trust - Bonds | -7,404 | 0 | 13.43 | 1.33 | 7,404 | 12.25 | 1.21 |
| Foreign Invest Total | -13,318 | 0 | 37.02 | 3.67 | 13,318 | 18.33 | 1.81 |
| Granate BCI Flexible - B | 5,039 | 483,991 | 10.63 | 1.05 | 478,952 | 10.79 | 1.07 |
| Rezco Equity - C | 664,973 | 1,136,580 | 25.19 | 2.50 | 471,607 | 10.46 | 1.03 |
| General Equity Total | 670,012 | 1,620,571 | 35.81 | 3.55 | 950,559 | 21.25 | 2.10 |
| Mondi plc | -5,725 | 5,048 | 0.97 | 0.10 | 10,773 | 2.19 | 0.22 |
| Mpact Ltd. | 0 | 91,013 | 1.98 | 0.20 | 91,013 | 2.05 | 0.20 |
| The Bidvest Group Ltd. | -2,382 | 45,223 | 10.30 | 1.02 | 47,605 | 11.31 | 1.12 |
| General Industrials Total | -8,107 | 141,284 | 13.26 | 1.32 | 149,391 | 15.55 | 1.53 |
| Estee Lauder Companies Inc | 2,328 | 2,328 | 2.69 | 0.27 | 0 | 0.00 | 0.00 |
| Honeywell International | -1,124 | 366 | 1.39 | 0.14 | 1,490 | 4.84 | 0.48 |
| Vinci SA | -1,314 | 538 | 1.36 | 0.13 | 1,852 | 4.31 | 0.43 |
| Goods & Services Total | -110 | 3,232 | 5.44 | 0.54 | 3,342 | 9.15 | 0.90 |
| Life Healthcare Group Holdings Ltd. | 140,217 | 273,821 | 3.16 | 0.31 | 133,604 | 1.52 | 0.15 |
| Netcare Ltd. | 57,580 | 365,112 | 6.01 | 0.60 | 307,532 | 4.87 | 0.48 |
| Health Care Providers Total | 197,797 | 638,933 | 9.17 | 0.91 | 441,136 | 6.39 | 0.63 |
| Matrix SCI Stable Income - B1 | -6,178,170 | 1,161,041 | 12.92 | 1.28 | 7,339,211 | 82.35 | 8.13 |
| Oakhaven BCI Core Income - A2 | 13,632 | 3,196,223 | 35.00 | 3.47 | 3,182,591 | 34.47 | 3.40 |
| Prescient Corporate Money Market - B2 | -6,477,106 | 0 | 0.00 | 0.00 | 6,477,106 | 6.48 | 0.64 |
| Prescient Corporate Money Market - B4 | 6,606,847 | 6,606,847 | 6.61 | 0.66 | 0 | 0.00 | 0.00 |
| Income Total | -6,034,797 | 10,964,111 | 54.52 | 5.41 | 16,998,908 | 123.30 | 12.17 |
| Sappi Ltd. | 0 | 7,958 | 0.13 | 0.01 | 7,958 | 0.20 | 0.02 |
| Industrial Materials Total | 0 | 7,958 | 0.13 | 0.01 | 7,958 | 0.20 | 0.02 |
| African Rainbow Minerals Ltd. | -24,500 | 4,843 | 1.10 | 0.11 | 29,343 | 5.84 | 0.58 |
| Afrimat Ltd. | 501 | 3,139 | 0.12 | 0.01 | 2,638 | 0.11 | 0.01 |
| Anglo American plc | 157 | 7,302 | 5.23 | 0.52 | 7,145 | 4.90 | 0.48 |
| BHP Group Ltd. | -533 | 1,673 | 1.01 | 0.10 | 2,206 | 1.12 | 0.11 |
| Glencore plc | -26,235 | 107,674 | 13.74 | 1.36 | 133,909 | 12.21 | 1.20 |
| Kumba Iron Ore Ltd. | 517 | 1,230 | 0.39 | 0.04 | 713 | 0.25 | 0.02 |
| South32 Ltd. | 48,685 | 56,472 | 2.89 | 0.29 | 7,787 | 0.31 | 0.03 |
| Industrial Metals and Mining Total | -1,408 | 182,333 | 24.47 | 2.43 | 183,741 | 24.72 | 2.44 |
| Hudaco Industries Ltd. | 0 | 4,931 | 0.93 | 0.09 | 4,931 | 1.01 | 0.10 |
| Industrial Support Services Total | 0 | 4,931 | 0.93 | 0.09 | 4,931 | 1.01 | 0.10 |
| Salvo BCI Global Managed Feeder - B | 7,060,571 | 23,888,200 | 35.07 | 3.48 | 16,827,629 | 25.01 | 2.47 |
| Salvo BCI Global Managed Feeder - A1 | 0 | 26,510,483 | 38.85 | 3.85 | 26,510,483 | 39.32 | 3.88 |
| International Total | 7,060,571 | 50,398,683 | 73.92 | 7.33 | 43,338,112 | 64.33 | 6.35 |
| Ninety One Ltd. | 4,669 | 34,431 | 1.74 | 0.17 | 29,762 | 1.42 | 0.14 |
| Quilter plc | 0 | 7,766 | 0.30 | 0.03 | 7,766 | 0.31 | 0.03 |
| Reinet Investments SCA | 9,449 | 33,696 | 18.42 | 1.83 | 24,247 | 14.06 | 1.39 |
| Remgro Ltd. | 11,433 | 83,433 | 15.67 | 1.55 | 72,000 | 13.08 | 1.29 |
| Investment Banking and Brokerage Services Total | 25,551 | 159,326 | 36.14 | 3.59 | 133,775 | 28.88 | 2.85 |
| Discovery Ltd. | 0 | 4,361 | 1.08 | 0.11 | 4,361 | 0.99 | 0.10 |
| Momentum Group Ltd. | 13,053 | 78,176 | 2.81 | 0.28 | 65,123 | 2.49 | 0.25 |
| Old Mutual Ltd. | -173,769 | 110,279 | 1.53 | 0.15 | 284,048 | 4.23 | 0.42 |
| Sanlam Ltd. | -5,412 | 69,452 | 6.08 | 0.60 | 74,864 | 7.37 | 0.73 |
| Life Insurance Total | -166,128 | 262,268 | 11.49 | 1.14 | 428,396 | 15.09 | 1.49 |
| Universal Music Group | 1,356 | 12,147 | 3.90 | 0.39 | 10,791 | 4.65 | 0.46 |
| eMedia Holdings Ltd. | 0 | 31,513 | 0.07 | 0.01 | 31,513 | 0.07 | 0.01 |
| Media Total | 1,356 | 43,660 | 3.97 | 0.39 | 42,304 | 4.71 | 0.47 |
| OUTsurance Group Ltd. | 36,980 | 83,811 | 5.82 | 0.58 | 46,831 | 3.36 | 0.33 |
| Non-life Insurance Total | 36,980 | 83,811 | 5.82 | 0.58 | 46,831 | 3.36 | 0.33 |
| Exxaro Resources Ltd. | 0 | 4,159 | 0.93 | 0.09 | 4,159 | 0.74 | 0.07 |
| Oil, Gas and Coal Total | 0 | 4,159 | 0.93 | 0.09 | 4,159 | 0.74 | 0.07 |
| Bid Corporation Ltd. | 2,833 | 44,801 | 18.33 | 1.82 | 41,968 | 17.71 | 1.75 |
| Boxer Retail Ltd. | 1,320 | 8,270 | 0.62 | 0.06 | 6,950 | 0.50 | 0.05 |
| Clicks Group Ltd. | 321 | 3,182 | 0.92 | 0.09 | 2,861 | 0.96 | 0.10 |
| Pick n Pay Stores Ltd. | 7,382 | 53,196 | 1.02 | 0.10 | 45,814 | 1.14 | 0.11 |
| Shoprite Holdings Ltd. | 6,040 | 54,148 | 15.06 | 1.49 | 48,108 | 13.00 | 1.28 |
| Personal Care, Drug and Grocery Stores Total | 17,896 | 163,597 | 35.95 | 3.57 | 145,701 | 33.30 | 3.29 |
| Compagnie Financière Richemont SA | 194 | 1,156 | 3.39 | 0.34 | 962 | 3.49 | 0.34 |
| Personal Goods Total | 194 | 1,156 | 3.39 | 0.34 | 962 | 3.49 | 0.34 |
| Aspen Pharmacare Holdings Ltd. | 4,992 | 23,980 | 3.09 | 0.31 | 18,988 | 2.22 | 0.22 |
| Pharmaceuticals and Biotechnology Total | 4,992 | 23,980 | 3.09 | 0.31 | 18,988 | 2.22 | 0.22 |
| AngloGold Ashanti plc | 917 | 9,331 | 14.95 | 1.48 | 8,414 | 12.06 | 1.19 |
| Gold Fields Ltd. | 370 | 22,063 | 16.48 | 1.64 | 21,693 | 15.74 | 1.55 |
| Harmony Gold Mining Company Ltd. | 5,914 | 25,719 | 6.51 | 0.65 | 19,805 | 6.68 | 0.66 |
| Impala Platinum Holdings Ltd. | -2,373 | 33,399 | 7.87 | 0.78 | 35,772 | 9.37 | 0.93 |
| Northam Platinum Holdings Ltd. | 1,395 | 6,263 | 2.12 | 0.21 | 4,868 | 1.64 | 0.16 |
| Pan African Resources plc | 11,964 | 20,993 | 0.64 | 0.06 | 9,029 | 0.24 | 0.02 |
| Sibanye Stillwater Ltd. | 9,843 | 98,512 | 4.92 | 0.49 | 88,669 | 5.36 | 0.53 |
| Valterra Platinum Ltd. | -717 | 14,050 | 19.38 | 1.92 | 14,767 | 20.81 | 2.05 |
| Precious Metals and Mining Total | 27,313 | 230,330 | 72.88 | 7.23 | 203,017 | 71.91 | 7.10 |
| Fortress Real Estate Investments Ltd. | 4,032 | 20,987 | 0.46 | 0.05 | 16,955 | 0.41 | 0.04 |
| Lighthouse Properties plc | 4,798 | 131,960 | 0.98 | 0.10 | 127,162 | 1.07 | 0.11 |
| NEPI Rockcastle NV | 22 | 7,963 | 1.08 | 0.11 | 7,941 | 1.16 | 0.11 |
| Real Estate Investment and Services Total | 8,852 | 160,910 | 2.53 | 0.25 | 152,058 | 2.64 | 0.26 |
| Growthpoint Properties Ltd. | 23,979 | 135,849 | 2.18 | 0.22 | 111,870 | 1.92 | 0.19 |
| Hyprop Investments Ltd. | 2,014 | 2,014 | 0.11 | 0.01 | 0 | 0.00 | 0.00 |
| Redefine Properties Ltd. | 0 | 62,685 | 0.37 | 0.04 | 62,685 | 0.38 | 0.04 |
| Vukile Property Fund Ltd. | 5,059 | 5,059 | 0.11 | 0.01 | 0 | 0.00 | 0.00 |
| Real Estate Investment Trusts Total | 31,052 | 205,607 | 2.77 | 0.27 | 174,555 | 2.30 | 0.23 |
| Visa Inc | 138 | 786 | 4.01 | 0.40 | 648 | 3.79 | 0.37 |
| Retail Total | 138 | 786 | 4.01 | 0.40 | 648 | 3.79 | 0.37 |
| Italtile Ltd. | 0 | 365,953 | 3.15 | 0.31 | 365,953 | 3.31 | 0.33 |
| Motus Holdings Ltd. | -4,380 | 2,074 | 0.24 | 0.02 | 6,454 | 0.79 | 0.08 |
| Mr Price Group Ltd. | 1,818 | 24,583 | 3.73 | 0.37 | 22,765 | 3.98 | 0.39 |
| Pepkor Holdings Ltd. | 39,529 | 171,908 | 3.86 | 0.38 | 132,379 | 3.50 | 0.35 |
| The Foschini Group Ltd. | 2,580 | 32,372 | 2.28 | 0.23 | 29,792 | 2.54 | 0.25 |
| Truworths International Ltd. | -1,359 | 11,697 | 0.61 | 0.06 | 13,056 | 0.74 | 0.07 |
| We Buy Cars Holdings Ltd. | 7,252 | 24,064 | 0.95 | 0.09 | 16,812 | 0.80 | 0.08 |
| Woolworths Holdings Ltd. | 1,717 | 36,040 | 1.83 | 0.18 | 34,323 | 1.92 | 0.19 |
| Retailers Total | 47,157 | 668,691 | 16.64 | 1.65 | 621,534 | 17.59 | 1.74 |
| Naspers Ltd. | 990 | 36,849 | 31.60 | 3.14 | 35,859 | 39.61 | 3.91 |
| Prosus NV | 12,030 | 36,106 | 27.59 | 2.74 | 24,076 | 24.64 | 2.43 |
| Software and Computer Services Total | 13,020 | 72,955 | 59.19 | 5.87 | 59,935 | 64.25 | 6.34 |
| Amazon.Com | 134 | 2,358 | 8.06 | 0.80 | 2,224 | 8.55 | 0.84 |
| Apple Computer Company | 0 | 144 | 0.60 | 0.06 | 144 | 0.65 | 0.06 |
| Meta Platforms Inc | 0 | 136 | 1.24 | 0.12 | 136 | 1.50 | 0.15 |
| Microsoft Corporation | 572 | 1,239 | 7.57 | 0.75 | 667 | 5.38 | 0.53 |
| Nvidia Corporation | 0 | 446 | 1.25 | 0.12 | 446 | 1.38 | 0.14 |
| Qualcomm AG | -740 | 0 | 0.00 | 0.00 | 740 | 2.13 | 0.21 |
| Taiwan Semiconductors | 300 | 890 | 4.80 | 0.48 | 590 | 2.93 | 0.29 |
| Technology Total | 266 | 5,213 | 23.53 | 2.33 | 4,947 | 22.52 | 2.22 |
| MTN Group Ltd. | 1,164 | 49,490 | 9.56 | 0.95 | 48,326 | 8.19 | 0.81 |
| Telkom SA SOC Ltd. | 3,661 | 30,479 | 1.78 | 0.18 | 26,818 | 1.58 | 0.16 |
| Vodacom Group Ltd. | 0 | 2,964 | 0.43 | 0.04 | 2,964 | 0.42 | 0.04 |
| Telecommunications Service Providers Total | 4,825 | 82,933 | 11.77 | 1.17 | 78,108 | 10.19 | 1.01 |
| British American Tobacco plc | -752 | 446 | 0.45 | 0.04 | 1,198 | 1.14 | 0.11 |
| Tobacco Total | -752 | 446 | 0.45 | 0.04 | 1,198 | 1.14 | 0.11 |
| Southern Sun Ltd. | 0 | 63,265 | 0.64 | 0.06 | 63,265 | 0.65 | 0.06 |
| Sun International Ltd. | 16,569 | 108,614 | 5.20 | 0.52 | 92,045 | 3.56 | 0.35 |
| Travel and Leisure Total | 16,569 | 171,879 | 5.84 | 0.58 | 155,310 | 4.21 | 0.42 |
| Portfolio Total | -8,760,825 | 97,831,419 | 1,007.84 | 100.00 | 106,592,244 | 1,013.13 | 100.00 |