| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -4,340 | 100,577 | 24.26 | 2.25 | 104,917 | 25.11 | 2.31 |
| Capitec Bank Holdings Ltd. | 0 | 9,578 | 39.48 | 3.67 | 9,578 | 39.80 | 3.66 |
| Capricorn Group Ltd. | 14,322 | 653,154 | 17.16 | 1.60 | 638,832 | 16.64 | 1.53 |
| FirstRand Ltd. | -23,992 | 587,526 | 50.61 | 4.70 | 611,518 | 55.50 | 5.10 |
| FirstRand Namibia Ltd. | 3,262 | 405,721 | 22.13 | 2.06 | 402,459 | 21.93 | 2.02 |
| Investec Ltd. | 0 | 32,253 | 4.11 | 0.38 | 32,253 | 3.94 | 0.36 |
| Letshego Holdings (Namibia) Ltd. | 0 | 845,784 | 4.52 | 0.42 | 845,784 | 4.47 | 0.41 |
| Nedbank Group Ltd. | -9,886 | 16,930 | 4.52 | 0.42 | 26,816 | 7.14 | 0.66 |
| Nedbank Group Ltd. | 0 | 48,544 | 12.95 | 1.20 | 48,544 | 12.93 | 1.19 |
| SBN Holdings Ltd. | 0 | 425,818 | 5.48 | 0.51 | 425,818 | 5.17 | 0.48 |
| Standard Bank Group Ltd. | -7,108 | 19,128 | 5.82 | 0.54 | 26,236 | 7.62 | 0.70 |
| Standard Bank Group Ltd. | 0 | 135,291 | 41.19 | 3.83 | 135,291 | 39.29 | 3.61 |
| Banks Total | -27,742 | 3,280,304 | 232.24 | 21.59 | 3,308,046 | 239.55 | 22.02 |
| Anheuser-Busch InBev SA/NV | -2,297 | 4,033 | 4.75 | 0.44 | 6,330 | 6.78 | 0.62 |
| Namibia Breweries | 38,283 | 743,759 | 22.54 | 2.10 | 705,476 | 21.17 | 1.95 |
| Beverages Total | 35,986 | 747,792 | 27.30 | 2.54 | 711,806 | 27.95 | 2.57 |
| Namibia Cash | 0 | 0 | 25.81 | 2.40 | 0 | 27.60 | 2.54 |
| Cash on call Total | 0 | 0 | 25.81 | 2.40 | 0 | 27.60 | 2.54 |
| AECI Ltd. | 0 | 10,038 | 1.15 | 0.11 | 10,038 | 0.90 | 0.08 |
| Omnia Holdings Ltd. | 0 | 7,249 | 0.69 | 0.06 | 7,249 | 0.57 | 0.05 |
| Sasol Ltd. | 0 | 107,232 | 24.17 | 2.25 | 107,232 | 11.39 | 1.05 |
| Chemicals Total | 0 | 124,519 | 26.01 | 2.42 | 124,519 | 12.86 | 1.18 |
| PPC Ltd. | 0 | 311,538 | 1.85 | 0.17 | 311,538 | 1.74 | 0.16 |
| Raubex Group Ltd. | -10,404 | 5,609 | 0.27 | 0.03 | 16,013 | 0.71 | 0.07 |
| Wilson Bayly Holmes - Ovcon Ltd. | 0 | 17,373 | 2.69 | 0.25 | 17,373 | 2.90 | 0.27 |
| Construction and Materials Total | -10,404 | 334,520 | 4.82 | 0.45 | 344,924 | 5.36 | 0.49 |
| Zeda Ltd. | 0 | 7,759 | 0.10 | 0.01 | 7,759 | 0.11 | 0.01 |
| Consumer Services Total | 0 | 7,759 | 0.10 | 0.01 | 7,759 | 0.11 | 0.01 |
| Reunert Ltd. | 0 | 66,553 | 4.34 | 0.40 | 66,553 | 4.15 | 0.38 |
| Electronic and Electrical Equipment Total | 0 | 66,553 | 4.34 | 0.40 | 66,553 | 4.15 | 0.38 |
| ETN - Standard Bank Oil | 23,134 | 23,134 | 0.77 | 0.07 | 0 | 0.00 | 0.00 |
| Exchange Traded Notes | -23,134 | 0 | 0.00 | 0.00 | 23,134 | 0.43 | 0.04 |
| Exchange Traded Notes Total | 0 | 23,134 | 0.77 | 0.07 | 23,134 | 0.43 | 0.04 |
| Nutun Ltd. | 0 | 17,026 | 0.02 | 0.00 | 17,026 | 0.02 | 0.00 |
| Optasia Ltd. | 0 | 109,235 | 2.14 | 0.20 | 109,235 | 2.24 | 0.21 |
| Finance and Credit Services Total | 0 | 126,261 | 2.16 | 0.20 | 126,261 | 2.25 | 0.21 |
| Astral Foods Ltd. | 0 | 9,541 | 2.43 | 0.23 | 9,541 | 2.54 | 0.23 |
| AVI Ltd. | 0 | 100,221 | 10.41 | 0.97 | 100,221 | 10.57 | 0.97 |
| Oceana Group Ltd. | 0 | 11,729 | 0.62 | 0.06 | 11,729 | 0.65 | 0.06 |
| Premier Group Ltd. | 0 | 16,058 | 2.80 | 0.26 | 16,058 | 2.69 | 0.25 |
| Tiger Brands Ltd. | 3,711 | 3,711 | 1.11 | 0.10 | 0 | 0.00 | 0.00 |
| Food Producers Total | 3,711 | 141,260 | 17.37 | 1.61 | 137,549 | 16.46 | 1.51 |
| KAP Ltd. | 0 | 2,368,846 | 4.83 | 0.45 | 2,368,846 | 4.55 | 0.42 |
| Mondi plc | 0 | 38,551 | 7.39 | 0.69 | 38,551 | 7.85 | 0.72 |
| The Bidvest Group Ltd. | 0 | 55,541 | 12.64 | 1.17 | 55,541 | 13.19 | 1.21 |
| General Industrials Total | 0 | 2,462,938 | 24.86 | 2.31 | 2,462,938 | 25.59 | 2.35 |
| Life Healthcare Group Holdings Ltd. | 0 | 527,947 | 6.10 | 0.57 | 527,947 | 6.01 | 0.55 |
| Netcare Ltd. | 0 | 93,637 | 1.55 | 0.14 | 93,637 | 1.48 | 0.14 |
| Health Care Providers Total | 0 | 621,584 | 7.64 | 0.71 | 621,584 | 7.50 | 0.69 |
| Sappi Ltd. | 0 | 25,284 | 0.43 | 0.04 | 25,284 | 0.62 | 0.06 |
| Industrial Materials Total | 0 | 25,284 | 0.43 | 0.04 | 25,284 | 0.62 | 0.06 |
| African Rainbow Minerals Ltd. | 0 | 7,735 | 1.79 | 0.17 | 7,735 | 1.54 | 0.14 |
| Anglo American plc | -3,140 | 33,424 | 24.07 | 2.24 | 36,564 | 25.05 | 2.30 |
| BHP Group Ltd. | 0 | 9,244 | 5.60 | 0.52 | 9,244 | 4.69 | 0.43 |
| Glencore plc | 0 | 122,901 | 15.73 | 1.46 | 122,901 | 11.20 | 1.03 |
| Koryx Copper SA | 34,299 | 34,299 | 1.37 | 0.13 | 0 | 0.00 | 0.00 |
| Kumba Iron Ore Ltd. | 0 | 2,428 | 0.78 | 0.07 | 2,428 | 0.85 | 0.08 |
| Industrial Metals and Mining Total | 31,159 | 210,031 | 49.33 | 4.59 | 178,872 | 43.33 | 3.98 |
| Hudaco Industries Ltd. | 0 | 1,860 | 0.35 | 0.03 | 1,860 | 0.38 | 0.04 |
| Industrial Support Services Total | 0 | 1,860 | 0.35 | 0.03 | 1,860 | 0.38 | 0.04 |
| Bell Equipment Ltd. | 0 | 18,170 | 0.69 | 0.06 | 18,170 | 0.76 | 0.07 |
| Grindrod Ltd. | 0 | 58,926 | 1.10 | 0.10 | 58,926 | 1.00 | 0.09 |
| Super Group Ltd. | 0 | 25,308 | 0.43 | 0.04 | 25,308 | 0.48 | 0.04 |
| Industrial Transportation Total | 0 | 102,404 | 2.23 | 0.21 | 102,404 | 2.24 | 0.21 |
| Alexander Forbes Group Holdings Ltd. | 0 | 227,311 | 1.49 | 0.14 | 227,311 | 1.77 | 0.16 |
| Coronation Fund Managers Ltd. | 0 | 14,881 | 0.66 | 0.06 | 14,881 | 0.70 | 0.06 |
| JSE Ltd. | 0 | 8,887 | 1.42 | 0.13 | 8,887 | 1.27 | 0.12 |
| Ninety One Ltd. | 0 | 8,639 | 0.44 | 0.04 | 8,639 | 0.41 | 0.04 |
| Ninety One plc | 0 | 11,254 | 0.58 | 0.05 | 11,254 | 0.54 | 0.05 |
| Reinet Investments SCA | 0 | 32,811 | 18.15 | 1.69 | 32,811 | 19.03 | 1.75 |
| Remgro Ltd. | 0 | 2,071 | 0.39 | 0.04 | 2,071 | 0.38 | 0.03 |
| Zeder Investments Ltd. | 0 | 91,819 | 0.12 | 0.01 | 91,819 | 0.11 | 0.01 |
| Investment Banking and Brokerage Services Total | 0 | 397,673 | 23.24 | 2.16 | 397,673 | 24.22 | 2.23 |
| Discovery Ltd. | 0 | 56,181 | 13.95 | 1.30 | 56,181 | 12.79 | 1.18 |
| Momentum Group Ltd. | 0 | 81,397 | 2.93 | 0.27 | 81,397 | 3.11 | 0.29 |
| Old Mutual Ltd. | 0 | 441,778 | 6.10 | 0.57 | 441,778 | 6.58 | 0.61 |
| Sanlam Ltd. | 0 | 165,212 | 14.70 | 1.37 | 165,212 | 16.27 | 1.50 |
| Life Insurance Total | 0 | 744,568 | 37.67 | 3.50 | 744,568 | 38.75 | 3.56 |
| eMedia Holdings Ltd. | 0 | 869 | 0.00 | 0.00 | 869 | 0.00 | 0.00 |
| Media Total | 0 | 869 | 0.00 | 0.00 | 869 | 0.00 | 0.00 |
| OUTsurance Group Ltd. | 0 | 80,707 | 5.62 | 0.52 | 80,707 | 5.78 | 0.53 |
| Santam Ltd. | 0 | 2,318 | 0.91 | 0.08 | 2,318 | 0.99 | 0.09 |
| Non-life Insurance Total | 0 | 83,025 | 6.53 | 0.61 | 83,025 | 6.77 | 0.62 |
| Exxaro Resources Ltd. | 0 | 15,053 | 3.38 | 0.31 | 15,053 | 2.69 | 0.25 |
| Thungela Resources Ltd. | 0 | 9,247 | 1.55 | 0.14 | 9,247 | 0.89 | 0.08 |
| Oil, Gas and Coal Total | 0 | 24,300 | 4.93 | 0.46 | 24,300 | 3.58 | 0.33 |
| Bid Corporation Ltd. | 0 | 45,203 | 18.42 | 1.71 | 45,203 | 19.07 | 1.75 |
| Boxer Retail Ltd. | 0 | 39,408 | 2.96 | 0.28 | 39,408 | 2.81 | 0.26 |
| Clicks Group Ltd. | 6,430 | 13,676 | 3.96 | 0.37 | 7,246 | 2.44 | 0.22 |
| Dis-Chem Pharmacies Ltd. | 47,117 | 74,730 | 2.78 | 0.26 | 27,613 | 0.97 | 0.09 |
| Pick n Pay Stores Ltd. | 0 | 295,128 | 5.64 | 0.52 | 295,128 | 7.35 | 0.68 |
| Shoprite Holdings Ltd. | 0 | 71,531 | 19.73 | 1.83 | 71,531 | 19.33 | 1.78 |
| The SPAR Group Ltd. | 42,178 | 51,284 | 3.22 | 0.30 | 9,106 | 0.87 | 0.08 |
| Personal Care, Drug and Grocery Stores Total | 95,725 | 590,960 | 56.71 | 5.27 | 495,235 | 52.83 | 4.86 |
| Compagnie Financière Richemont SA | 683 | 4,078 | 12.07 | 1.12 | 3,395 | 12.31 | 1.13 |
| Personal Goods Total | 683 | 4,078 | 12.07 | 1.12 | 3,395 | 12.31 | 1.13 |
| Aspen Pharmacare Holdings Ltd. | -12,052 | 37,176 | 4.88 | 0.45 | 49,228 | 5.75 | 0.53 |
| Pharmaceuticals and Biotechnology Total | -12,052 | 37,176 | 4.88 | 0.45 | 49,228 | 5.75 | 0.53 |
| AngloGold Ashanti plc | -978 | 40,173 | 65.98 | 6.13 | 41,151 | 58.98 | 5.42 |
| Gold Fields Ltd. | 1,384 | 101,801 | 77.42 | 7.20 | 100,417 | 72.87 | 6.70 |
| Harmony Gold Mining Company Ltd. | 0 | 70,497 | 18.05 | 1.68 | 70,497 | 23.76 | 2.18 |
| Impala Platinum Holdings Ltd. | 0 | 91,918 | 21.96 | 2.04 | 91,918 | 24.08 | 2.21 |
| Northam Platinum Holdings Ltd. | 0 | 47,517 | 16.16 | 1.50 | 47,517 | 16.02 | 1.47 |
| Pan African Resources plc | 53,399 | 53,399 | 1.68 | 0.16 | 0 | 0.00 | 0.00 |
| Sibanye Stillwater Ltd. | 46,763 | 350,096 | 17.87 | 1.66 | 303,333 | 18.35 | 1.69 |
| Valterra Platinum Ltd. | 0 | 26,338 | 36.90 | 3.43 | 26,338 | 37.12 | 3.41 |
| Precious Metals and Mining Total | 100,568 | 781,739 | 256.02 | 23.80 | 681,171 | 251.19 | 23.09 |
| Oryx Property Ltd Namibia | 595,141 | 595,141 | 8.15 | 0.76 | 0 | 0.00 | 0.00 |
| Real Estate Total | 595,141 | 595,141 | 8.15 | 0.76 | 0 | 0.00 | 0.00 |
| NEPI Rockcastle NV | 0 | 36,541 | 4.96 | 0.46 | 36,541 | 5.33 | 0.49 |
| Oryx Properties Ltd. | -595,141 | 0 | 0.00 | 0.00 | 595,141 | 7.95 | 0.73 |
| Real Estate Investment and Services Total | -595,141 | 36,541 | 4.96 | 0.46 | 631,682 | 13.27 | 1.22 |
| Motus Holdings Ltd. | 0 | 11,611 | 1.35 | 0.13 | 11,611 | 1.42 | 0.13 |
| Mr Price Group Ltd. | 0 | 22,677 | 3.48 | 0.32 | 22,677 | 3.97 | 0.36 |
| Pepkor Holdings Ltd. | 0 | 444,248 | 10.04 | 0.93 | 444,248 | 11.75 | 1.08 |
| The Foschini Group Ltd. | 0 | 36,996 | 2.61 | 0.24 | 36,996 | 3.11 | 0.29 |
| Truworths International Ltd. | 0 | 110,380 | 5.70 | 0.53 | 110,380 | 6.28 | 0.58 |
| We Buy Cars Holdings Ltd. | 0 | 49,654 | 1.98 | 0.18 | 49,654 | 2.37 | 0.22 |
| Woolworths Holdings Ltd. | 0 | 195,206 | 9.90 | 0.92 | 195,206 | 10.93 | 1.00 |
| Retailers Total | 0 | 870,772 | 35.06 | 3.26 | 870,772 | 39.83 | 3.66 |
| Altron Ltd. | 0 | 15,125 | 0.30 | 0.03 | 15,125 | 0.30 | 0.03 |
| Datatec Ltd. | 0 | 55,542 | 3.89 | 0.36 | 55,542 | 4.39 | 0.40 |
| Naspers Ltd. | 3,445 | 92,764 | 79.96 | 7.43 | 89,319 | 98.65 | 9.07 |
| Prosus NV | 0 | 33,235 | 25.55 | 2.37 | 33,235 | 34.02 | 3.13 |
| Software and Computer Services Total | 3,445 | 196,666 | 109.70 | 10.20 | 193,221 | 137.36 | 12.63 |
| Blu Label Unlimited Group Ltd. | 0 | 205,094 | 1.71 | 0.16 | 205,094 | 2.16 | 0.20 |
| Cell C Holdings Ltd. | 104,584 | 104,584 | 2.77 | 0.26 | 0 | 0.00 | 0.00 |
| Mobile Telecommunications Ltd. | 0 | 1,953,352 | 18.13 | 1.68 | 1,953,352 | 17.91 | 1.65 |
| MTN Group Ltd. | 0 | 148,545 | 29.03 | 2.70 | 148,545 | 25.18 | 2.31 |
| Paratus Namibia Holdings Ltd. | 0 | 436,768 | 5.35 | 0.50 | 436,768 | 5.42 | 0.50 |
| Telkom SA SOC Ltd. | 0 | 12,365 | 0.73 | 0.07 | 12,365 | 0.73 | 0.07 |
| Vodacom Group Ltd. | 0 | 1,646 | 0.24 | 0.02 | 1,646 | 0.23 | 0.02 |
| Telecommunications Service Providers Total | 104,584 | 2,862,354 | 57.96 | 5.39 | 2,757,770 | 51.63 | 4.75 |
| British American Tobacco plc | -3,330 | 28,401 | 28.18 | 2.62 | 31,731 | 29.87 | 2.75 |
| Tobacco Total | -3,330 | 28,401 | 28.18 | 2.62 | 31,731 | 29.87 | 2.75 |
| Famous Brands Ltd. | 0 | 20,977 | 1.06 | 0.10 | 20,977 | 1.12 | 0.10 |
| Southern Sun Ltd. | 0 | 211,429 | 2.16 | 0.20 | 211,429 | 2.17 | 0.20 |
| Tsogo Sun Ltd. | 0 | 122,455 | 0.84 | 0.08 | 122,455 | 0.86 | 0.08 |
| Travel and Leisure Total | 0 | 354,861 | 4.06 | 0.38 | 354,861 | 4.14 | 0.38 |
| Portfolio Total | 322,333 | 15,885,327 | 1,075.85 | 100.00 | 15,562,994 | 1,087.90 | 100.00 |