| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -7,872 | 427,231 | 102.26 | 6.01 | 435,103 | 78.75 | 5.01 |
| FirstRand Ltd. | -140,760 | 327,302 | 29.70 | 1.75 | 468,062 | 36.46 | 2.32 |
| Nedbank Group Ltd. | 47,150 | 47,150 | 12.55 | 0.74 | 0 | 0.00 | 0.00 |
| Standard Bank Group Ltd. | 0 | 182,190 | 52.91 | 3.11 | 182,190 | 43.13 | 2.74 |
| Banks Total | -101,482 | 983,873 | 197.43 | 11.60 | 1,085,355 | 158.34 | 10.08 |
| Anheuser-Busch InBev SA/NV | 11,450 | 11,450 | 12.26 | 0.72 | 0 | 0.00 | 0.00 |
| Beverages Total | 11,450 | 11,450 | 12.26 | 0.72 | 0 | 0.00 | 0.00 |
| SA Bond FRB32 | 0 | 7,800,000 | 7.93 | 0.47 | 7,800,000 | 7.94 | 0.51 |
| SA Bond I2031 | 22,563,000 | 22,563,000 | 25.73 | 1.51 | 0 | 0.00 | 0.00 |
| SA Bond I2033 | 34,272,655 | 34,272,655 | 48.51 | 2.85 | 0 | 0.00 | 0.00 |
| SA Bond MML04 | 0 | 14,976,000 | 15.35 | 0.90 | 14,976,000 | 14.91 | 0.95 |
| SA Bond R2033 | -19,330,563 | 42,750,500 | 48.85 | 2.87 | 62,081,063 | 66.46 | 4.23 |
| SA Bond R2035 | 10,580,000 | 83,220,492 | 89.31 | 5.25 | 72,640,492 | 71.96 | 4.58 |
| SA Bond R209 | 13,219,000 | 90,022,746 | 78.41 | 4.61 | 76,803,746 | 61.04 | 3.88 |
| SA Bond R210 | -11,680,146 | 0 | 0.00 | 0.00 | 11,680,146 | 29.35 | 1.87 |
| SA Bond R213 | -55,662,450 | 0 | 0.00 | 0.00 | 55,662,450 | 53.17 | 3.38 |
| SA Bond SNT08 | 16,000,000 | 16,000,000 | 16.35 | 0.96 | 0 | 0.00 | 0.00 |
| Bond Total | 9,961,496 | 311,605,393 | 330.44 | 19.42 | 301,643,897 | 304.84 | 19.40 |
| Cash on call | 0 | 0 | 24.48 | 1.44 | 0 | 31.49 | 2.00 |
| Cash on call Total | 0 | 0 | 24.48 | 1.44 | 0 | 31.49 | 2.00 |
| AECI Ltd. | 18,100 | 211,592 | 18.90 | 1.11 | 193,492 | 18.80 | 1.20 |
| Sasol Ltd. | 0 | 164,811 | 17.50 | 1.03 | 164,811 | 17.69 | 1.13 |
| Chemicals Total | 18,100 | 376,403 | 36.40 | 2.14 | 358,303 | 36.49 | 2.32 |
| EPE Capital Partners Ltd. | 0 | 3,334,564 | 23.34 | 1.37 | 3,334,564 | 22.81 | 1.45 |
| Closed End Investments Total | 0 | 3,334,564 | 23.34 | 1.37 | 3,334,564 | 22.81 | 1.45 |
| Reunert Ltd. | 0 | 488,558 | 30.45 | 1.79 | 488,558 | 26.18 | 1.67 |
| Electronic and Electrical Equipment Total | 0 | 488,558 | 30.45 | 1.79 | 488,558 | 26.18 | 1.67 |
| iShares 1-3 Year Treasury Bond ETF | -7,545 | 0 | 0.00 | 0.00 | 7,545 | 16.09 | 1.02 |
| Equities Total | -7,545 | 0 | 0.00 | 0.00 | 7,545 | 16.09 | 1.02 |
| Arcus Japan Fund | 0 | 6,038 | 35.28 | 2.07 | 6,038 | 35.73 | 2.27 |
| Financials Total | 0 | 6,038 | 35.28 | 2.07 | 6,038 | 35.73 | 2.27 |
| Astral Foods Ltd. | -6,234 | 96,514 | 25.74 | 1.51 | 102,748 | 21.21 | 1.35 |
| Premier Group Ltd. | 0 | 167,674 | 28.11 | 1.65 | 167,674 | 25.48 | 1.62 |
| Food Producers Total | -6,234 | 264,188 | 53.85 | 3.16 | 270,422 | 46.69 | 2.97 |
| European - Currency | 0 | 0 | 0.18 | 0.01 | 0 | 0.19 | 0.01 |
| Japan - Currency | 0 | 0 | 0.09 | 0.01 | 0 | 0.10 | 0.01 |
| United Kingdom - Currency | 0 | 0 | 0.06 | 0.00 | 0 | 0.06 | 0.00 |
| USA - Currency | 0 | 0 | 0.66 | 0.04 | 0 | 0.17 | 0.01 |
| For Currency Total | 0 | 0 | 0.99 | 0.06 | 0 | 0.52 | 0.03 |
| Foreign - Bonds | 0 | 0 | 16.68 | 0.98 | 0 | 17.70 | 1.13 |
| Foreign - Unit Trusts | 0 | 0 | 15.57 | 0.91 | 0 | 0.00 | 0.00 |
| Foreign Invest Total | 0 | 0 | 32.25 | 1.89 | 0 | 17.70 | 1.13 |
| Equity | 0 | 0 | 0.00 | 0.00 | 0 | 11.40 | 0.73 |
| General Equity Total | 0 | 0 | 0.00 | 0.00 | 0 | 11.40 | 0.73 |
| Nampak Ltd. | 0 | 35,910 | 19.40 | 1.14 | 35,910 | 16.30 | 1.04 |
| General Industrials Total | 0 | 35,910 | 19.40 | 1.14 | 35,910 | 16.30 | 1.04 |
| Life Healthcare Group Holdings Ltd. | 148,431 | 2,083,528 | 23.73 | 1.39 | 1,935,097 | 22.47 | 1.43 |
| Health Care Providers Total | 148,431 | 2,083,528 | 23.73 | 1.39 | 1,935,097 | 22.47 | 1.43 |
| ClucasGray Flexible Income Prescient - B2 | 482,210 | 24,744,516 | 28.57 | 1.68 | 24,262,306 | 26.89 | 1.71 |
| Income Total | 482,210 | 24,744,516 | 28.57 | 1.68 | 24,262,306 | 26.89 | 1.71 |
| African Rainbow Minerals Ltd. | 0 | 172,530 | 34.32 | 2.02 | 172,530 | 31.99 | 2.04 |
| Anglo American plc | -5,985 | 52,552 | 36.00 | 2.12 | 58,537 | 37.76 | 2.40 |
| Glencore plc | 49,360 | 266,394 | 24.28 | 1.43 | 217,034 | 17.36 | 1.10 |
| Industrial Metals and Mining Total | 43,375 | 491,476 | 94.60 | 5.56 | 448,101 | 87.12 | 5.54 |
| Metrofile Holdings Ltd. | -5,262,962 | 0 | 0.00 | 0.00 | 5,262,962 | 15.79 | 1.00 |
| Industrial Support Services Total | -5,262,962 | 0 | 0.00 | 0.00 | 5,262,962 | 15.79 | 1.00 |
| Dodge & Cox Worldwide Funds - Global Stock Fund Acc (USD) A | 0 | 127,577 | 93.81 | 5.51 | 127,577 | 93.42 | 5.94 |
| Nedgroup Investments Global Equity Feeder - B2 | 620 | 3,757,750 | 65.69 | 3.86 | 3,757,130 | 66.76 | 4.25 |
| International Total | 620 | 3,885,327 | 159.51 | 9.37 | 3,884,707 | 160.18 | 10.19 |
| Brait plc | 23,856 | 23,856 | 17.92 | 1.05 | 0 | 0.00 | 0.00 |
| Coronation Fund Managers Ltd. | 0 | 361,858 | 16.92 | 0.99 | 361,858 | 16.05 | 1.02 |
| Ninety One plc | 0 | 262,613 | 12.68 | 0.75 | 262,613 | 12.32 | 0.78 |
| Reinet Investments SCA | 6,340 | 67,008 | 38.86 | 2.28 | 60,668 | 30.64 | 1.95 |
| Sabvest Capital Ltd. | 0 | 178,165 | 21.91 | 1.29 | 178,165 | 20.84 | 1.33 |
| Investment Banking and Brokerage Services Total | 30,196 | 893,500 | 108.29 | 6.36 | 863,304 | 79.85 | 5.08 |
| Momentum Group Ltd. | 0 | 464,193 | 17.75 | 1.04 | 464,193 | 15.28 | 0.97 |
| Old Mutual Ltd. | 0 | 3,283,054 | 48.92 | 2.87 | 3,283,054 | 43.70 | 2.78 |
| Life Insurance Total | 0 | 3,747,247 | 66.67 | 3.92 | 3,747,247 | 58.97 | 3.75 |
| Caxton and CTP Publishers and Printers Ltd. | 1,176,278 | 1,176,278 | 15.50 | 0.91 | 0 | 0.00 | 0.00 |
| Media Total | 1,176,278 | 1,176,278 | 15.50 | 0.91 | 0 | 0.00 | 0.00 |
| Old Mutual Money Market - A | -13,133,983 | 0 | 0.00 | 0.00 | 13,133,983 | 13.22 | 0.84 |
| Old Mutual Money Market - C | 0 | 0 | 0.01 | 0.00 | 0 | 0.00 | 0.00 |
| Money Market Total | -13,133,983 | 0 | 0.01 | 0.00 | 13,133,983 | 13.22 | 0.84 |
| iShares Core EURO STOXX 50 UCITS ETF | 0 | 7,700 | 33.05 | 1.94 | 7,700 | 32.74 | 2.08 |
| Offshore Intern Total | 0 | 7,700 | 33.05 | 1.94 | 7,700 | 32.74 | 2.08 |
| Exxaro Resources Ltd. | 0 | 148,871 | 26.65 | 1.57 | 148,871 | 26.66 | 1.70 |
| Oil, Gas and Coal Total | 0 | 148,871 | 26.65 | 1.57 | 148,871 | 26.66 | 1.70 |
| Pick n Pay Stores Ltd. | 390,000 | 390,000 | 9.71 | 0.57 | 0 | 0.00 | 0.00 |
| Personal Care, Drug and Grocery Stores Total | 390,000 | 390,000 | 9.71 | 0.57 | 0 | 0.00 | 0.00 |
| Adcock Ingram Holdings Ltd. | -282,410 | 0 | 0.00 | 0.00 | 282,410 | 20.33 | 1.29 |
| Pharmaceuticals and Biotechnology Total | -282,410 | 0 | 0.00 | 0.00 | 282,410 | 20.33 | 1.29 |
| Valterra Platinum Ltd. | 0 | 34,814 | 49.07 | 2.88 | 34,814 | 42.05 | 2.68 |
| Precious Metals and Mining Total | 0 | 34,814 | 49.07 | 2.88 | 34,814 | 42.05 | 2.68 |
| MAS plc | 0 | 496,050 | 11.21 | 0.66 | 496,050 | 10.55 | 0.67 |
| Real Estate Investment and Services Total | 0 | 496,050 | 11.21 | 0.66 | 496,050 | 10.55 | 0.67 |
| Fairvest Ltd. | 0 | 3,231,723 | 23.20 | 1.36 | 3,231,723 | 17.94 | 1.14 |
| Growthpoint Properties Ltd. | 0 | 695,945 | 11.94 | 0.70 | 695,945 | 10.28 | 0.65 |
| Redefine Properties Ltd. | 2,050,000 | 2,050,000 | 12.30 | 0.72 | 0 | 0.00 | 0.00 |
| Spear REIT Ltd. | 0 | 1,555,077 | 18.37 | 1.08 | 1,555,077 | 15.94 | 1.01 |
| Real Estate Investment Trusts Total | 2,050,000 | 7,532,745 | 65.81 | 3.87 | 5,482,745 | 44.15 | 2.81 |
| KAL Group Ltd. | 0 | 555,905 | 27.80 | 1.63 | 555,905 | 23.13 | 1.47 |
| Motus Holdings Ltd. | 0 | 263,194 | 32.09 | 1.89 | 263,194 | 27.37 | 1.74 |
| Mr Price Group Ltd. | 2,025 | 2,025 | 0.35 | 0.02 | 0 | 0.00 | 0.00 |
| The Foschini Group Ltd. | 0 | 177,642 | 15.14 | 0.89 | 177,642 | 19.28 | 1.23 |
| Retailers Total | 2,025 | 998,766 | 75.38 | 4.43 | 996,741 | 69.78 | 4.44 |
| Naspers Ltd. | 44,500 | 54,875 | 60.61 | 3.56 | 10,375 | 65.38 | 4.16 |
| Software and Computer Services Total | 44,500 | 54,875 | 60.61 | 3.56 | 10,375 | 65.38 | 4.16 |
| MTN Group Ltd. | 0 | 189,740 | 32.16 | 1.89 | 189,740 | 26.62 | 1.69 |
| Telecommunications Service Providers Total | 0 | 189,740 | 32.16 | 1.89 | 189,740 | 26.62 | 1.69 |
| British American Tobacco plc | -3,640 | 31,100 | 29.69 | 1.74 | 34,740 | 31.64 | 2.01 |
| Tobacco Total | -3,640 | 31,100 | 29.69 | 1.74 | 34,740 | 31.64 | 2.01 |
| Southern Sun Ltd. | 0 | 1,471,914 | 15.07 | 0.89 | 1,471,914 | 12.61 | 0.80 |
| Travel and Leisure Total | 0 | 1,471,914 | 15.07 | 0.89 | 1,471,914 | 12.61 | 0.80 |
| Portfolio Total | -4,439,575 | 365,484,824 | 1,701.85 | 100.00 | 369,924,399 | 1,571.58 | 100.00 |