| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Ferrari N.V | 0 | 544 | 4.24 | 0.56 | 544 | 4.38 | 0.56 |
| Tesla Motors | 0 | 928 | 4.24 | 0.56 | 928 | 7.07 | 0.91 |
| Auto Total | 0 | 1,472 | 8.48 | 1.11 | 1,472 | 11.46 | 1.47 |
| Absa Group Ltd. | 32,247 | 32,247 | 5.71 | 0.75 | 0 | 0.00 | 0.00 |
| Capitec Bank Holdings Ltd. | 1,355 | 5,722 | 17.75 | 2.33 | 4,367 | 13.69 | 1.76 |
| FirstRand Ltd. | -661 | 228,701 | 16.43 | 2.16 | 229,362 | 17.42 | 2.24 |
| Investec plc | -34,127 | 0 | 0.00 | 0.00 | 34,127 | 4.32 | 0.56 |
| Nedbank Group Ltd. | -23,774 | 330 | 0.08 | 0.01 | 24,104 | 6.79 | 0.87 |
| Standard Bank Group Ltd. | 31,232 | 68,130 | 16.31 | 2.14 | 36,898 | 8.18 | 1.05 |
| Barclays Plc | 0 | 127,312 | 8.70 | 1.14 | 127,312 | 8.07 | 1.04 |
| HDFC Bank | 0 | 3,133 | 3.82 | 0.50 | 3,133 | 3.78 | 0.49 |
| Banks Total | 6,272 | 465,575 | 68.80 | 9.03 | 459,303 | 62.25 | 8.00 |
| Agnico-Eagle Mines Ltd | -3,216 | 0 | 0.00 | 0.00 | 3,216 | 4.75 | 0.61 |
| Rheinmetal Berlin | 0 | 283 | 7.37 | 0.97 | 283 | 3.40 | 0.44 |
| Teck Resources Limited | 0 | 2,364 | 1.57 | 0.21 | 2,364 | 1.81 | 0.23 |
| Basic Resources Total | -3,216 | 2,647 | 8.94 | 1.17 | 5,863 | 9.95 | 1.28 |
| Anheuser-Busch InBev SA/NV | -806 | 0 | 0.00 | 0.00 | 806 | 0.76 | 0.10 |
| Beverages Total | -806 | 0 | 0.00 | 0.00 | 806 | 0.76 | 0.10 |
| SA Bond R186 | -500,000 | 0 | 0.00 | 0.00 | 500,000 | 0.52 | 0.07 |
| SA Bond R2030 | 0 | 14,300,000 | 13.89 | 1.82 | 14,300,000 | 14.18 | 1.82 |
| SA Bond R2032 | 0 | 10,000,000 | 9.20 | 1.21 | 10,000,000 | 9.47 | 1.22 |
| SA Bond R2035 | 600,000 | 13,500,000 | 12.19 | 1.60 | 12,900,000 | 12.13 | 1.56 |
| SA Bond R2037 | 0 | 13,800,000 | 11.67 | 1.53 | 13,800,000 | 12.21 | 1.57 |
| SA Bond R2040 | 0 | 30,300,000 | 25.50 | 3.35 | 30,300,000 | 26.97 | 3.47 |
| SA Bond R2044 | 0 | 7,750,000 | 6.18 | 0.81 | 7,750,000 | 6.58 | 0.85 |
| SA Bond R2048 | 0 | 4,000,000 | 3.13 | 0.41 | 4,000,000 | 3.34 | 0.43 |
| SA Bond R209 | 0 | 1,800,000 | 1.28 | 0.17 | 1,800,000 | 1.33 | 0.17 |
| SA Bond R213 | 0 | 12,600,000 | 11.26 | 1.48 | 12,600,000 | 11.49 | 1.48 |
| SA Bond R214 | 0 | 7,600,000 | 4.95 | 0.65 | 7,600,000 | 5.24 | 0.67 |
| Bond Total | 100,000 | 115,650,000 | 99.26 | 13.02 | 115,550,000 | 103.47 | 13.29 |
| Cash on call | 0 | 0 | 2.63 | 0.35 | 0 | 6.17 | 0.79 |
| Cash on call Total | 0 | 0 | 2.63 | 0.35 | 0 | 6.17 | 0.79 |
| Thermo Fisher Scientific Inc | 0 | 787 | 7.12 | 0.93 | 787 | 7.73 | 0.99 |
| Chemicals Total | 0 | 787 | 7.12 | 0.93 | 787 | 7.73 | 0.99 |
| AECOM Ltd | 0 | 3,143 | 5.33 | 0.70 | 3,143 | 6.34 | 0.81 |
| CRH Plc | -529 | 2,634 | 4.18 | 0.55 | 3,163 | 5.52 | 0.71 |
| Construction Total | -529 | 5,777 | 9.50 | 1.25 | 6,306 | 11.86 | 1.52 |
| Raubex Group Ltd. | 0 | 76,159 | 3.36 | 0.44 | 76,159 | 4.04 | 0.52 |
| Wilson Bayly Holmes - Ovcon Ltd. | 19,706 | 22,380 | 4.04 | 0.53 | 2,674 | 0.62 | 0.08 |
| Construction and Materials Total | 19,706 | 98,539 | 7.40 | 0.97 | 78,833 | 4.66 | 0.60 |
| TKO Group Holdings | 0 | 3,901 | 10.81 | 1.42 | 3,901 | 10.46 | 1.34 |
| Consumer Services Total | 0 | 3,901 | 10.81 | 1.42 | 3,901 | 10.46 | 1.34 |
| Alphabet Inc A | 0 | 2,992 | 8.35 | 1.10 | 2,992 | 10.69 | 1.37 |
| Delta Air Lines Incorporated | 3,133 | 3,133 | 2.44 | 0.32 | 0 | 0.00 | 0.00 |
| General Motors | -2,994 | 3,212 | 2.76 | 0.36 | 6,206 | 6.24 | 0.80 |
| Planet Fitness Incorporated. | 944 | 2,389 | 4.22 | 0.55 | 1,445 | 2.70 | 0.35 |
| Cyclical Goods & Services Total | 1,083 | 11,726 | 17.77 | 2.33 | 10,643 | 19.62 | 2.52 |
| Enel SpA | 0 | 38,668 | 5.76 | 0.76 | 38,668 | 5.20 | 0.67 |
| Energy Total | 0 | 38,668 | 5.76 | 0.76 | 38,668 | 5.20 | 0.67 |
| NewGold | 25,644 | 25,644 | 13.64 | 1.79 | 0 | 0.00 | 0.00 |
| Exchange Traded Funds Total | 25,644 | 25,644 | 13.64 | 1.79 | 0 | 0.00 | 0.00 |
| Hong Kong Exchanges and Clearing Limited | 0 | 3,600 | 2.93 | 0.38 | 3,600 | 2.58 | 0.33 |
| London Stock Exchange Group Plc | 0 | 3,391 | 9.23 | 1.21 | 3,391 | 9.04 | 1.16 |
| Mastercard Inc | 0 | 722 | 7.14 | 0.94 | 722 | 7.17 | 0.92 |
| Synchrony Financial | -7,221 | -551 | -0.54 | -0.07 | 6,670 | 8.18 | 1.05 |
| UBS AG (Switzerland) | 5,586 | 5,586 | 3.12 | 0.41 | 0 | 0.00 | 0.00 |
| Financial Services Total | -1,635 | 12,748 | 21.88 | 2.87 | 14,383 | 26.98 | 3.47 |
| JP Morgan Chase & Company | -185 | 2,139 | 9.50 | 1.25 | 2,324 | 10.51 | 1.35 |
| Financials Total | -185 | 2,139 | 9.50 | 1.25 | 2,324 | 10.51 | 1.35 |
| Unilever plc | 0 | 3,339 | 3.65 | 0.48 | 3,339 | 3.59 | 0.46 |
| Food & Beverage Total | 0 | 3,339 | 3.65 | 0.48 | 3,339 | 3.59 | 0.46 |
| Tiger Brands Ltd. | 15,312 | 15,312 | 4.25 | 0.56 | 0 | 0.00 | 0.00 |
| Food Producers Total | 15,312 | 15,312 | 4.25 | 0.56 | 0 | 0.00 | 0.00 |
| Australia - Currency | 0 | 0 | 0.02 | 0.00 | 0 | 0.02 | 0.00 |
| Canada - Currency | 0 | 0 | 0.19 | 0.02 | 0 | 0.13 | 0.02 |
| Denmark - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| European - Currency | 0 | 0 | -2.14 | -0.28 | 0 | -2.12 | -0.27 |
| Foreign - Currency | 0 | 0 | 0.07 | 0.01 | 0 | 0.06 | 0.01 |
| Hong Kong - Currency | 0 | 0 | 0.04 | 0.01 | 0 | 0.06 | 0.01 |
| Japan - Currency | 0 | 0 | 7.07 | 0.93 | 0 | 6.85 | 0.88 |
| Mexican Peso | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Norway - Cash | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Singapore - Currency | 0 | 0 | 0.01 | 0.00 | 0 | 0.01 | 0.00 |
| Sweden - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Switzerland - Currency | 0 | 0 | 0.02 | 0.00 | 0 | 0.02 | 0.00 |
| United Kingdom - Currency | 0 | 0 | -2.84 | -0.37 | 0 | -3.03 | -0.39 |
| USA - Currency | 0 | 0 | 31.73 | 4.16 | 0 | 31.78 | 4.08 |
| For Currency Total | 0 | 0 | 34.18 | 4.48 | 0 | 33.80 | 4.34 |
| Zillow Group Inc (A) | 0 | 2,541 | 3.17 | 0.42 | 2,541 | 3.55 | 0.46 |
| Foreign Property Total | 0 | 2,541 | 3.17 | 0.42 | 2,541 | 3.55 | 0.46 |
| Mondi plc | -14,111 | 0 | 0.00 | 0.00 | 14,111 | 3.92 | 0.50 |
| General Industrials Total | -14,111 | 0 | 0.00 | 0.00 | 14,111 | 3.92 | 0.50 |
| Canadian National Railway Company | 0 | 2,630 | 4.72 | 0.62 | 2,630 | 5.04 | 0.65 |
| Iberdrola Sociètè Anonyme | 298 | 17,626 | 5.23 | 0.69 | 17,328 | 4.50 | 0.58 |
| Jacobs Solutions Inc | 0 | 1,986 | 4.41 | 0.58 | 1,986 | 5.01 | 0.64 |
| Kweichow Moutai Co Ltd (A) | 0 | 633 | 2.50 | 0.33 | 633 | 2.48 | 0.32 |
| Midea Group | 0 | 13,387 | 2.66 | 0.35 | 13,387 | 2.59 | 0.33 |
| Nintendo Company Ltd | -2,700 | 3,000 | 3.73 | 0.49 | 5,700 | 6.34 | 0.81 |
| Philip Morris International | 0 | 2,286 | 6.65 | 0.87 | 2,286 | 5.19 | 0.67 |
| Roblox Corporation | 2,093 | 2,093 | 2.22 | 0.29 | 0 | 0.00 | 0.00 |
| Schneider Electric SA | -601 | 1,076 | 4.51 | 0.59 | 1,677 | 7.89 | 1.01 |
| Siemens AG | 0 | 1,202 | 5.03 | 0.66 | 1,202 | 4.43 | 0.57 |
| Smurfit Kappa Group | 0 | 4,365 | 3.59 | 0.47 | 4,365 | 4.45 | 0.57 |
| Goods & Services Total | -910 | 50,284 | 45.24 | 5.93 | 51,194 | 47.92 | 6.16 |
| Life Healthcare Group Holdings Ltd. | -330,781 | 0 | 0.00 | 0.00 | 330,781 | 5.42 | 0.70 |
| Netcare Ltd. | -176,806 | 0 | 0.00 | 0.00 | 176,806 | 2.64 | 0.34 |
| Health Care Providers Total | -507,587 | 0 | 0.00 | 0.00 | 507,587 | 8.06 | 1.04 |
| Edwards Lifescience | 0 | 1,344 | 1.78 | 0.23 | 1,344 | 1.88 | 0.24 |
| Johnson & Johnson | 0 | 2,970 | 9.07 | 1.19 | 2,970 | 8.11 | 1.04 |
| Novo-Nordisk A/S | -931 | 0 | 0.00 | 0.00 | 931 | 1.52 | 0.20 |
| United Health Group | -220 | 0 | 0.00 | 0.00 | 220 | 2.10 | 0.27 |
| Healthcare Total | -1,151 | 4,314 | 10.85 | 1.42 | 5,465 | 13.61 | 1.75 |
| Sappi Ltd. | 0 | 73,379 | 2.66 | 0.35 | 73,379 | 3.61 | 0.46 |
| Industrial Materials Total | 0 | 73,379 | 2.66 | 0.35 | 73,379 | 3.61 | 0.46 |
| Anglo American plc | -14,487 | 11,507 | 5.88 | 0.77 | 25,994 | 14.34 | 1.84 |
| Glencore plc | -61,184 | 0 | 0.00 | 0.00 | 61,184 | 5.11 | 0.66 |
| Kumba Iron Ore Ltd. | 8,350 | 8,350 | 2.61 | 0.34 | 0 | 0.00 | 0.00 |
| South32 Ltd. | 34,240 | 76,655 | 2.84 | 0.37 | 42,415 | 1.69 | 0.22 |
| Industrial Metals and Mining Total | -33,081 | 96,512 | 11.32 | 1.49 | 129,593 | 21.15 | 2.72 |
| AIA Group Limited | 12,600 | 32,000 | 4.43 | 0.58 | 19,400 | 2.65 | 0.34 |
| Elevance Health Inc | 0 | 231 | 1.85 | 0.24 | 231 | 1.61 | 0.21 |
| Intact Financial Corporation | 0 | 2,606 | 9.72 | 1.28 | 2,606 | 8.95 | 1.15 |
| Muenchener Ruek Versicherungs-Gesellschaft | 346 | 346 | 4.02 | 0.53 | 0 | 0.00 | 0.00 |
| Sompo Japan Insurance | 0 | 11,500 | 6.39 | 0.84 | 11,500 | 5.69 | 0.73 |
| Insurance Total | 12,946 | 46,683 | 26.42 | 3.47 | 33,737 | 18.90 | 2.43 |
| Quilter plc | 0 | 69,911 | 2.44 | 0.32 | 69,911 | 2.49 | 0.32 |
| Investment Banking and Brokerage Services Total | 0 | 69,911 | 2.44 | 0.32 | 69,911 | 2.49 | 0.32 |
| Discovery Ltd. | -12,529 | 48,736 | 9.72 | 1.28 | 61,265 | 11.93 | 1.53 |
| Sanlam Ltd. | 10,051 | 160,271 | 13.26 | 1.74 | 150,220 | 13.05 | 1.68 |
| Life Insurance Total | -2,478 | 209,007 | 22.99 | 3.02 | 211,485 | 24.98 | 3.21 |
| MediaTek Incorporated | 0 | 4,000 | 3.08 | 0.40 | 4,000 | 3.26 | 0.42 |
| Media Total | 0 | 4,000 | 3.08 | 0.40 | 4,000 | 3.26 | 0.42 |
| TotalEnergies SE | 0 | 3,574 | 4.24 | 0.56 | 3,574 | 3.73 | 0.48 |
| Oil and Gas Total | 0 | 3,574 | 4.24 | 0.56 | 3,574 | 3.73 | 0.48 |
| Exxaro Resources Ltd. | 19,141 | 19,141 | 2.84 | 0.37 | 0 | 0.00 | 0.00 |
| Oil, Gas and Coal Total | 19,141 | 19,141 | 2.84 | 0.37 | 0 | 0.00 | 0.00 |
| Boxer Retail Ltd. | -13,154 | 0 | 0.00 | 0.00 | 13,154 | 0.85 | 0.11 |
| Clicks Group Ltd. | -13,439 | 0 | 0.00 | 0.00 | 13,439 | 5.01 | 0.64 |
| Pick n Pay Stores Ltd. | -103,210 | 0 | 0.00 | 0.00 | 103,210 | 3.17 | 0.41 |
| The SPAR Group Ltd. | 29,772 | 29,772 | 3.52 | 0.46 | 0 | 0.00 | 0.00 |
| Personal Care, Drug and Grocery Stores Total | -100,031 | 29,772 | 3.52 | 0.46 | 129,803 | 9.03 | 1.16 |
| Compagnie Financière Richemont SA | 715 | 2,725 | 8.64 | 1.13 | 2,010 | 5.58 | 0.72 |
| Personal Goods Total | 715 | 2,725 | 8.64 | 1.13 | 2,010 | 5.58 | 0.72 |
| AngloGold Ashanti plc | -212 | 19,237 | 13.21 | 1.73 | 19,449 | 8.19 | 1.05 |
| Gold Fields Ltd. | 19,689 | 26,020 | 10.55 | 1.38 | 6,331 | 1.56 | 0.20 |
| Harmony Gold Mining Company Ltd. | -8,518 | 13,756 | 3.67 | 0.48 | 22,274 | 3.36 | 0.43 |
| Impala Platinum Holdings Ltd. | -11,458 | 31,704 | 3.99 | 0.52 | 43,162 | 3.79 | 0.49 |
| Northam Platinum Holdings Ltd. | 2,889 | 27,505 | 3.60 | 0.47 | 24,616 | 2.40 | 0.31 |
| Valterra Platinum Ltd. | 872 | 3,702 | 2.72 | 0.36 | 2,830 | 1.61 | 0.21 |
| Precious Metals and Mining Total | 3,262 | 121,924 | 37.74 | 4.95 | 118,662 | 20.90 | 2.69 |
| Hyprop Investments Ltd. | 0 | 104,836 | 4.37 | 0.57 | 104,836 | 4.87 | 0.63 |
| Redefine Properties Ltd. | 0 | 747,839 | 3.13 | 0.41 | 747,839 | 3.40 | 0.44 |
| Resilient REIT Ltd. | 0 | 115,074 | 6.54 | 0.86 | 115,074 | 6.76 | 0.87 |
| Shaftesbury Capital plc | 74,001 | 74,001 | 2.19 | 0.29 | 0 | 0.00 | 0.00 |
| Real Estate Investment Trusts Total | 74,001 | 1,041,750 | 16.23 | 2.13 | 967,749 | 15.04 | 1.93 |
| Tapestry Inc | -3,270 | 0 | 0.00 | 0.00 | 3,270 | 4.03 | 0.52 |
| Visa Inc | 0 | 1,235 | 7.78 | 1.02 | 1,235 | 7.37 | 0.95 |
| Retail Total | -3,270 | 1,235 | 7.78 | 1.02 | 4,505 | 11.40 | 1.46 |
| Motus Holdings Ltd. | 0 | 17,868 | 1.56 | 0.20 | 17,868 | 2.17 | 0.28 |
| Mr Price Group Ltd. | 0 | 46,964 | 10.41 | 1.37 | 46,964 | 13.87 | 1.78 |
| Pepkor Holdings Ltd. | 203,117 | 203,117 | 5.19 | 0.68 | 0 | 0.00 | 0.00 |
| The Foschini Group Ltd. | 0 | 43,741 | 5.44 | 0.71 | 43,741 | 7.35 | 0.94 |
| Truworths International Ltd. | -45,811 | 30,717 | 2.21 | 0.29 | 76,528 | 7.93 | 1.02 |
| We Buy Cars Holdings Ltd. | 0 | 37,068 | 1.56 | 0.20 | 37,068 | 1.60 | 0.21 |
| Retailers Total | 157,306 | 379,475 | 26.36 | 3.46 | 222,169 | 32.91 | 4.23 |
| Investec Emerging Companies - Z | 0 | 2,422,768 | 38.08 | 5.00 | 2,422,768 | 41.57 | 5.34 |
| Smaller Co's Total | 0 | 2,422,768 | 38.08 | 5.00 | 2,422,768 | 41.57 | 5.34 |
| Naspers Ltd. | -226 | 8,664 | 39.14 | 5.14 | 8,890 | 37.10 | 4.77 |
| Software and Computer Services Total | -226 | 8,664 | 39.14 | 5.14 | 8,890 | 37.10 | 4.77 |
| Amadeus IT Holding SA | 0 | 2,492 | 3.49 | 0.46 | 2,492 | 3.32 | 0.43 |
| Amazon.Com | 437 | 4,973 | 17.01 | 2.23 | 4,536 | 18.78 | 2.41 |
| American Tower | 0 | 1,155 | 4.61 | 0.60 | 1,155 | 4.00 | 0.51 |
| Apple Computer Company | -1,351 | 887 | 3.58 | 0.47 | 2,238 | 10.58 | 1.36 |
| Autodesk Incorporated | 0 | 1,332 | 6.33 | 0.83 | 1,332 | 7.43 | 0.95 |
| Broadcom Corporation | -410 | 1,699 | 5.07 | 0.67 | 2,109 | 9.23 | 1.19 |
| Epam Systems | 589 | 589 | 1.79 | 0.24 | 0 | 0.00 | 0.00 |
| Infineon Technologies | 5,165 | 5,165 | 3.11 | 0.41 | 0 | 0.00 | 0.00 |
| Microsoft Corporation | 222 | 2,091 | 14.16 | 1.86 | 1,869 | 14.87 | 1.91 |
| Nvidia Corporation | -2,239 | 4,629 | 8.92 | 1.17 | 6,868 | 17.40 | 2.24 |
| Okta Inc | 1,580 | 1,580 | 3.00 | 0.39 | 0 | 0.00 | 0.00 |
| Pinterest | 0 | 4,365 | 2.43 | 0.32 | 4,365 | 2.39 | 0.31 |
| Taiwan Semiconductor Manufacturing Co Ltd | 0 | 23,000 | 11.59 | 1.52 | 23,000 | 14.23 | 1.83 |
| Take-Two Interactive Software Inc | 0 | 2,039 | 7.62 | 1.00 | 2,039 | 7.08 | 0.91 |
| TD Synnex Corporation | 0 | 2,271 | 4.33 | 0.57 | 2,271 | 5.03 | 0.65 |
| Technology Total | 3,993 | 58,267 | 97.04 | 12.73 | 54,274 | 114.33 | 14.69 |
| MTN Group Ltd. | 33,257 | 107,388 | 13.23 | 1.74 | 74,131 | 6.82 | 0.88 |
| Telecommunications Service Providers Total | 33,257 | 107,388 | 13.23 | 1.74 | 74,131 | 6.82 | 0.88 |
| British American Tobacco plc | 7,548 | 7,548 | 5.70 | 0.75 | 0 | 0.00 | 0.00 |
| Tobacco Total | 7,548 | 7,548 | 5.70 | 0.75 | 0 | 0.00 | 0.00 |
| Portfolio Total | -189,030 | 121,099,136 | 762.25 | 100.00 | 121,288,166 | 778.29 | 100.00 |