| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Ferrari N.V | 0 | 258 | 1.59 | 0.19 | 258 | 2.15 | 0.27 |
| OReilly Automotive | 0 | 3,793 | 5.74 | 0.68 | 3,793 | 7.05 | 0.87 |
| Auto Total | 0 | 4,051 | 7.33 | 0.87 | 4,051 | 9.20 | 1.14 |
| Absa Group Ltd. | -24,867 | 158,858 | 38.02 | 4.48 | 183,725 | 33.24 | 4.10 |
| Capitec Bank Holdings Ltd. | 1,790 | 6,562 | 27.27 | 3.21 | 4,772 | 16.56 | 2.04 |
| FirstRand Ltd. | 101,584 | 436,812 | 39.64 | 4.67 | 335,228 | 26.09 | 3.22 |
| Investec plc | -46,150 | 0 | 0.00 | 0.00 | 46,150 | 5.93 | 0.73 |
| Standard Bank Group Ltd. | 34,925 | 86,230 | 25.04 | 2.95 | 51,305 | 12.12 | 1.50 |
| Banks Total | 67,282 | 688,462 | 129.98 | 15.32 | 621,180 | 93.95 | 11.60 |
| Rheinmetal Berlin | 0 | 211 | 6.40 | 0.75 | 211 | 8.47 | 1.05 |
| Basic Resources Total | 0 | 211 | 6.40 | 0.75 | 211 | 8.47 | 1.05 |
| Anheuser-Busch InBev SA/NV | -2,840 | 0 | 0.00 | 0.00 | 2,840 | 2.93 | 0.36 |
| Beverages Total | -2,840 | 0 | 0.00 | 0.00 | 2,840 | 2.93 | 0.36 |
| Cash on call | 0 | 0 | 5.39 | 0.64 | 0 | 7.95 | 0.98 |
| Cash on call Total | 0 | 0 | 5.39 | 0.64 | 0 | 7.95 | 0.98 |
| Sasol Ltd. | -2,100 | 0 | 0.00 | 0.00 | 2,100 | 0.23 | 0.03 |
| Chemicals Total | -2,100 | 0 | 0.00 | 0.00 | 2,100 | 0.23 | 0.03 |
| Raubex Group Ltd. | -78,639 | 0 | 0.00 | 0.00 | 78,639 | 3.35 | 0.41 |
| Construction and Materials Total | -78,639 | 0 | 0.00 | 0.00 | 78,639 | 3.35 | 0.41 |
| ADvTECH Ltd. | 0 | 192,469 | 7.17 | 0.84 | 192,469 | 6.07 | 0.75 |
| Consumer Services Total | 0 | 192,469 | 7.17 | 0.84 | 192,469 | 6.07 | 0.75 |
| Alphabet Inc C | 0 | 2,589 | 13.47 | 1.59 | 2,589 | 10.93 | 1.35 |
| L'Oreal | 0 | 923 | 6.60 | 0.78 | 923 | 6.87 | 0.85 |
| Uber Technologies | 0 | 9,349 | 12.70 | 1.50 | 9,349 | 16.09 | 1.99 |
| Cyclical Goods & Services Total | 0 | 12,861 | 32.76 | 3.86 | 12,861 | 33.89 | 4.18 |
| Equity Derivative | 15,464 | 15,464 | 17.07 | 2.01 | 0 | 16.06 | 1.98 |
| Derivatives Total | 15,464 | 15,464 | 17.07 | 2.01 | 0 | 16.06 | 1.98 |
| Channel VAS Investments Ltd. | 129,052 | 129,052 | 2.64 | 0.31 | 0 | 0.00 | 0.00 |
| Finance and Credit Services Total | 129,052 | 129,052 | 2.64 | 0.31 | 0 | 0.00 | 0.00 |
| Citigroup | 0 | 4,359 | 8.45 | 1.00 | 4,359 | 7.77 | 0.96 |
| Scottish Mortgage Investment Trust Plc | 34 | 25,384 | 6.71 | 0.79 | 25,350 | 6.74 | 0.83 |
| Financial Services Total | 34 | 29,743 | 15.16 | 1.79 | 29,709 | 14.51 | 1.79 |
| Tiger Brands Ltd. | 0 | 47,645 | 17.45 | 2.06 | 47,645 | 14.65 | 1.81 |
| Food Producers Total | 0 | 47,645 | 17.45 | 2.06 | 47,645 | 14.65 | 1.81 |
| European - Currency | 0 | 0 | 0.07 | 0.01 | 0 | 0.01 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.29 | 0.03 | 0 | 0.01 | 0.00 |
| USA - Currency | 0 | 0 | 6.47 | 0.76 | 0 | 0.04 | 0.01 |
| For Currency Total | 0 | 0 | 6.82 | 0.80 | 0 | 0.06 | 0.01 |
| Foreign - Unit Trusts | 13,537 | 13,537 | 19.19 | 2.26 | 0 | 26.94 | 3.33 |
| Foreign Invest Total | 13,537 | 13,537 | 19.19 | 2.26 | 0 | 26.94 | 3.33 |
| Mondi plc | -1,236 | 0 | 0.00 | 0.00 | 1,236 | 0.29 | 0.04 |
| The Bidvest Group Ltd. | -1,100 | 0 | 0.00 | 0.00 | 1,100 | 0.23 | 0.03 |
| General Industrials Total | -2,336 | 0 | 0.00 | 0.00 | 2,336 | 0.52 | 0.06 |
| ASML Holding NV | 0 | 413 | 7.38 | 0.87 | 413 | 6.92 | 0.85 |
| Goods & Services Total | 0 | 413 | 7.38 | 0.87 | 413 | 6.92 | 0.85 |
| Boston Scientific Corporation | 0 | 7,518 | 11.94 | 1.41 | 7,518 | 12.61 | 1.56 |
| Eli Lilly & Company | 0 | 1,229 | 21.95 | 2.59 | 1,229 | 15.43 | 1.91 |
| Healthcare Total | 0 | 8,747 | 33.88 | 3.99 | 8,747 | 28.04 | 3.46 |
| Anglo American plc | 0 | 34,447 | 23.60 | 2.78 | 34,447 | 22.22 | 2.74 |
| Industrial Metals and Mining Total | 0 | 34,447 | 23.60 | 2.78 | 34,447 | 22.22 | 2.74 |
| Grindrod Ltd. | -87,960 | 0 | 0.00 | 0.00 | 87,960 | 1.33 | 0.16 |
| Industrial Transportation Total | -87,960 | 0 | 0.00 | 0.00 | 87,960 | 1.33 | 0.16 |
| Admiral Group PLC | 0 | 10,921 | 7.73 | 0.91 | 10,921 | 8.76 | 1.08 |
| Insurance Total | 0 | 10,921 | 7.73 | 0.91 | 10,921 | 8.76 | 1.08 |
| Reinet Investments SCA | -132 | 0 | 0.00 | 0.00 | 132 | 0.07 | 0.01 |
| Sabvest Capital Ltd. | 0 | 44,819 | 5.51 | 0.65 | 44,819 | 5.24 | 0.65 |
| Investment Banking and Brokerage Services Total | -132 | 44,819 | 5.51 | 0.65 | 44,951 | 5.31 | 0.66 |
| Discovery Ltd. | 0 | 114,235 | 26.00 | 3.06 | 114,235 | 22.60 | 2.79 |
| Old Mutual Ltd. | 304,707 | 885,530 | 13.19 | 1.56 | 580,823 | 7.73 | 0.95 |
| Sanlam Ltd. | -11,500 | 0 | 0.00 | 0.00 | 11,500 | 0.95 | 0.12 |
| Life Insurance Total | 293,207 | 999,765 | 39.19 | 4.62 | 706,558 | 31.29 | 3.86 |
| Universal Music Group | 0 | 11,873 | 5.11 | 0.60 | 11,873 | 5.90 | 0.73 |
| Media Total | 0 | 11,873 | 5.11 | 0.60 | 11,873 | 5.90 | 0.73 |
| Thungela Resources Ltd. | -344 | 0 | 0.00 | 0.00 | 344 | 0.03 | 0.00 |
| Oil, Gas and Coal Total | -344 | 0 | 0.00 | 0.00 | 344 | 0.03 | 0.00 |
| Bid Corporation Ltd. | 8,285 | 57,146 | 24.11 | 2.84 | 48,861 | 21.11 | 2.61 |
| Boxer Retail Ltd. | 0 | 136,926 | 9.77 | 1.15 | 136,926 | 9.37 | 1.16 |
| Shoprite Holdings Ltd. | 0 | 24,366 | 6.58 | 0.78 | 24,366 | 6.68 | 0.82 |
| Personal Care, Drug and Grocery Stores Total | 8,285 | 218,438 | 40.46 | 4.77 | 210,153 | 37.15 | 4.59 |
| Compagnie Financière Richemont SA | -174 | 0 | 0.00 | 0.00 | 174 | 0.57 | 0.07 |
| Personal Goods Total | -174 | 0 | 0.00 | 0.00 | 174 | 0.57 | 0.07 |
| AngloGold Ashanti plc | -1,338 | 6,306 | 9.04 | 1.07 | 7,644 | 9.09 | 1.12 |
| Gold Fields Ltd. | 11,147 | 62,027 | 45.01 | 5.31 | 50,880 | 36.49 | 4.51 |
| Harmony Gold Mining Company Ltd. | -24,809 | 46,942 | 15.82 | 1.87 | 71,751 | 22.03 | 2.72 |
| Impala Platinum Holdings Ltd. | 22,738 | 182,505 | 47.82 | 5.64 | 159,767 | 34.78 | 4.29 |
| Northam Platinum Holdings Ltd. | -39,735 | 0 | 0.00 | 0.00 | 39,735 | 11.09 | 1.37 |
| Valterra Platinum Ltd. | 10,242 | 32,577 | 45.92 | 5.41 | 22,335 | 26.98 | 3.33 |
| Precious Metals and Mining Total | -21,755 | 330,357 | 163.61 | 19.28 | 352,112 | 140.46 | 17.34 |
| MAS plc | -739,048 | 0 | 0.00 | 0.00 | 739,048 | 15.72 | 1.94 |
| Real Estate Investment and Services Total | -739,048 | 0 | 0.00 | 0.00 | 739,048 | 15.72 | 1.94 |
| Shopify | 0 | 4,165 | 11.28 | 1.33 | 4,165 | 10.73 | 1.32 |
| Visa Inc | 0 | 1,571 | 9.19 | 1.08 | 1,571 | 9.24 | 1.14 |
| Retail Total | 0 | 5,736 | 20.47 | 2.41 | 5,736 | 19.96 | 2.46 |
| Lewis Group Ltd. | 0 | 39,343 | 3.54 | 0.42 | 39,343 | 2.84 | 0.35 |
| Mr Price Group Ltd. | 0 | 78,277 | 13.70 | 1.61 | 78,277 | 15.99 | 1.97 |
| Pepkor Holdings Ltd. | 0 | 196,464 | 5.20 | 0.61 | 196,464 | 4.81 | 0.59 |
| We Buy Cars Holdings Ltd. | 0 | 236,407 | 11.31 | 1.33 | 236,407 | 13.12 | 1.62 |
| Retailers Total | 0 | 550,491 | 33.74 | 3.98 | 550,491 | 36.77 | 4.54 |
| Naspers Ltd. | 41,043 | 53,005 | 58.54 | 6.90 | 11,962 | 75.38 | 9.31 |
| Prosus NV | 6,605 | 47,357 | 48.47 | 5.71 | 40,752 | 49.91 | 6.16 |
| Software and Computer Services Total | 47,648 | 100,362 | 107.02 | 12.61 | 52,714 | 125.29 | 15.47 |
| Amazon.Com | 0 | 3,650 | 14.04 | 1.65 | 3,650 | 14.01 | 1.73 |
| Fortinet Inc | 0 | 11,198 | 14.87 | 1.75 | 11,198 | 16.38 | 2.02 |
| Meta Platforms Inc | 0 | 557 | 6.13 | 0.72 | 557 | 7.16 | 0.88 |
| Microsoft Corporation | 0 | 2,128 | 17.16 | 2.02 | 2,128 | 18.93 | 2.34 |
| Technology Total | 0 | 17,533 | 52.20 | 6.15 | 17,533 | 56.48 | 6.97 |
| Cell C Holdings Ltd. | 358,479 | 358,479 | 10.22 | 1.20 | 0 | 0.00 | 0.00 |
| MTN Group Ltd. | 0 | 56,562 | 9.59 | 1.13 | 56,562 | 7.93 | 0.98 |
| Vodacom Group Ltd. | 0 | 25,210 | 3.56 | 0.42 | 25,210 | 3.35 | 0.41 |
| Telecommunications Service Providers Total | 358,479 | 440,251 | 23.37 | 2.75 | 81,772 | 11.28 | 1.39 |
| Famous Brands Ltd. | -50,613 | 0 | 0.00 | 0.00 | 50,613 | 2.71 | 0.33 |
| Southern Sun Ltd. | 0 | 1,740,350 | 17.82 | 2.10 | 1,740,350 | 14.91 | 1.84 |
| Travel and Leisure Total | -50,613 | 1,740,350 | 17.82 | 2.10 | 1,790,963 | 17.63 | 2.18 |
| Portfolio Total | -52,953 | 5,647,998 | 848.44 | 100.00 | 5,700,951 | 809.88 | 100.00 |