| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | -2,000 | 53,000 | 216.50 | 4.71 | 55,000 | 228.57 | 5.01 |
| FirstRand Ltd. | 450,000 | 450,000 | 39.67 | 0.86 | 0 | 0.00 | 0.00 |
| Nedbank Group Ltd. | -65,500 | 534,500 | 142.66 | 3.11 | 600,000 | 159.76 | 3.50 |
| Standard Bank Group Ltd. | -20,000 | 1,080,000 | 325.61 | 7.09 | 1,100,000 | 319.44 | 7.00 |
| Nu Holdings Ltd | 0 | 40,000 | 9.19 | 0.20 | 40,000 | 11.17 | 0.24 |
| Banks Total | 362,500 | 2,157,500 | 733.63 | 15.97 | 1,795,000 | 718.93 | 15.74 |
| EOG Resources | -10,000 | 0 | 0.00 | 0.00 | 10,000 | 17.47 | 0.38 |
| Basic Resources Total | -10,000 | 0 | 0.00 | 0.00 | 10,000 | 17.47 | 0.38 |
| SA Bond EL29 | 0 | 3,000,000 | 5.30 | 0.12 | 3,000,000 | 5.11 | 0.11 |
| SA Bond EL30 | 0 | 3,000,000 | 5.04 | 0.11 | 3,000,000 | 4.90 | 0.11 |
| SA Bond EL31 | 0 | 700,000 | 1.07 | 0.02 | 700,000 | 1.06 | 0.02 |
| SA Bond ES33 | 0 | 2,893,000 | 2.58 | 0.06 | 2,893,000 | 2.77 | 0.06 |
| SA Bond FRBI33 | 0 | 4,700,000 | 13.33 | 0.29 | 4,700,000 | 13.33 | 0.29 |
| SA Bond FRC501 | 0 | 2,000,000 | 2.78 | 0.06 | 2,000,000 | 2.93 | 0.06 |
| SA Bond FRS137 | 0 | 450,000 | 1.16 | 0.03 | 450,000 | 1.14 | 0.03 |
| SA Bond I2031 | 20,000,000 | 20,000,000 | 22.62 | 0.49 | 0 | 0.00 | 0.00 |
| SA Bond I2033 | 7,000,000 | 31,500,000 | 43.78 | 0.95 | 24,500,000 | 34.68 | 0.76 |
| SA Bond I2038 | 4,000,000 | 10,000,000 | 15.00 | 0.33 | 6,000,000 | 9.49 | 0.21 |
| SA Bond R2030 | 0 | 1,250,000 | 1.25 | 0.03 | 1,250,000 | 1.32 | 0.03 |
| SA Bond R2032 | 0 | 8,460,000 | 8.26 | 0.18 | 8,460,000 | 8.86 | 0.19 |
| SA Bond R2035 | -46,000,000 | 30,600,000 | 30.30 | 0.66 | 76,600,000 | 82.21 | 1.80 |
| SA Bond R2037 | -11,500,000 | 58,400,000 | 55.40 | 1.21 | 69,900,000 | 72.01 | 1.58 |
| SA Bond R2038 | 0 | 3,000,000 | 3.28 | 0.07 | 3,000,000 | 3.57 | 0.08 |
| SA Bond R2040 | -12,000,000 | 43,000,000 | 41.10 | 0.89 | 55,000,000 | 57.30 | 1.26 |
| SA Bond R2044 | -20,500,000 | 57,850,000 | 53.45 | 1.16 | 78,350,000 | 78.30 | 1.72 |
| SA Bond R2048 | 0 | 7,300,000 | 6.67 | 0.15 | 7,300,000 | 7.26 | 0.16 |
| SA Bond R209 | 0 | 23,000,000 | 18.48 | 0.40 | 23,000,000 | 20.03 | 0.44 |
| SA Bond R213 | 0 | 44,400,000 | 41.88 | 0.91 | 44,400,000 | 44.48 | 0.97 |
| SA Bond R214 | 0 | 41,750,000 | 31.48 | 0.69 | 41,750,000 | 34.14 | 0.75 |
| SA Bond SBSI14 | 0 | 1,466,442 | 4.16 | 0.09 | 1,466,442 | 4.16 | 0.09 |
| SA Bond TN30 | 0 | 1,500,000 | 1.65 | 0.04 | 1,500,000 | 1.67 | 0.04 |
| Bond Total | -59,000,000 | 400,219,442 | 410.04 | 8.93 | 459,219,442 | 490.72 | 10.75 |
| Cash on call | 0 | 0 | 70.91 | 1.54 | 0 | 13.69 | 0.30 |
| Margin Account | -60,581,681 | 0 | 44.61 | 0.97 | 60,581,681 | 63.00 | 1.38 |
| Cash on call Total | -60,581,681 | 0 | 115.52 | 2.51 | 60,581,681 | 76.70 | 1.68 |
| Lowes Companies | -6,500 | 0 | 0.00 | 0.00 | 6,500 | 26.14 | 0.57 |
| Construction Total | -6,500 | 0 | 0.00 | 0.00 | 6,500 | 26.14 | 0.57 |
| Advtech Ltd. | 2,384,043 | 3,134,043 | 130.81 | 2.85 | 750,000 | 27.92 | 0.61 |
| Stadio Holdings Ltd. | 855,000 | 3,280,000 | 37.82 | 0.82 | 2,425,000 | 32.25 | 0.71 |
| Consumer Services Total | 3,239,043 | 6,414,043 | 168.63 | 3.67 | 3,175,000 | 60.18 | 1.32 |
| Hermes International | 145 | 145 | 4.55 | 0.10 | 0 | 0.00 | 0.00 |
| Howden Joinery Group PLC | 50,000 | 450,000 | 80.47 | 1.75 | 400,000 | 74.17 | 1.62 |
| Tencent Holdings Ltd | 90,000 | 130,000 | 136.54 | 2.97 | 40,000 | 50.91 | 1.12 |
| Cyclical Goods & Services Total | 140,145 | 580,145 | 221.57 | 4.82 | 440,000 | 125.08 | 2.74 |
| Equity Derivative | 0 | 0 | 0.00 | 0.00 | 0 | 22.46 | 0.49 |
| Derivatives Total | 0 | 0 | 0.00 | 0.00 | 0 | 22.46 | 0.49 |
| Keyence Corporation | 3,000 | 7,000 | 41.17 | 0.90 | 4,000 | 23.94 | 0.52 |
| Equities Total | 3,000 | 7,000 | 41.17 | 0.90 | 4,000 | 23.94 | 0.52 |
| 3I Group Plc | 63,000 | 63,000 | 34.16 | 0.74 | 0 | 0.00 | 0.00 |
| Derwent London | 95,000 | 395,000 | 140.20 | 3.05 | 300,000 | 116.20 | 2.55 |
| EXOR S.p.A | 2,500 | 70,000 | 90.07 | 1.96 | 67,500 | 95.08 | 2.08 |
| Interactive Brokers Group | 0 | 160,000 | 173.36 | 3.77 | 160,000 | 172.00 | 3.77 |
| Mastercard Inc | 2,600 | 4,000 | 33.62 | 0.73 | 1,400 | 13.37 | 0.29 |
| Mercadolibre Inc | 1,900 | 3,850 | 106.05 | 2.31 | 1,950 | 65.17 | 1.43 |
| Financial Services Total | 165,000 | 695,850 | 577.46 | 12.57 | 530,850 | 461.82 | 10.12 |
| European - Currency | 0 | 0 | 1.72 | 0.04 | 0 | 0.02 | 0.00 |
| Hong Kong - Currency | 0 | 0 | 0.77 | 0.02 | 0 | 0.01 | 0.00 |
| Japan - Currency | 0 | 0 | 0.01 | 0.00 | 0 | 0.61 | 0.01 |
| Switzerland - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 0.06 | 0.00 | 0 | 0.05 | 0.00 |
| USA - Currency | 0 | 0 | 15.87 | 0.35 | 0 | 0.05 | 0.00 |
| For Currency Total | 0 | 0 | 18.43 | 0.40 | 0 | 0.75 | 0.02 |
| Foreign - Equities | 0 | 0 | 72.74 | 1.58 | 0 | 132.81 | 2.91 |
| Foreign Invest Total | 0 | 0 | 72.74 | 1.58 | 0 | 132.81 | 2.91 |
| British Land Company | 270,000 | 670,000 | 54.23 | 1.18 | 400,000 | 36.94 | 0.81 |
| NewRiver Retail Ltd | 3,675,000 | 3,675,000 | 58.10 | 1.26 | 0 | 0.00 | 0.00 |
| Unibail-Rodamco | -42,500 | 87,500 | 163.94 | 3.57 | 130,000 | 234.46 | 5.14 |
| Foreign Property Total | 3,902,500 | 4,432,500 | 276.27 | 6.01 | 530,000 | 271.39 | 5.94 |
| ASML Holding NV | -1,700 | 2,000 | 43.54 | 0.95 | 3,700 | 66.15 | 1.45 |
| Lam Research Corporation | -34,000 | 0 | 0.00 | 0.00 | 34,000 | 97.82 | 2.14 |
| Goods & Services Total | -35,700 | 2,000 | 43.54 | 0.95 | 37,700 | 163.97 | 3.59 |
| African Rainbow Minerals Ltd. | -80,491 | 373,500 | 85.07 | 1.85 | 453,991 | 90.30 | 1.98 |
| Afrimat Ltd. | 400,000 | 3,550,000 | 131.35 | 2.86 | 3,150,000 | 129.69 | 2.84 |
| Industrial Metals and Mining Total | 319,509 | 3,923,500 | 216.42 | 4.71 | 3,603,991 | 219.98 | 4.82 |
| Hudaco Industries Ltd. | 17,500 | 505,000 | 95.19 | 2.07 | 487,500 | 99.94 | 2.19 |
| Industrial Support Services Total | 17,500 | 505,000 | 95.19 | 2.07 | 487,500 | 99.94 | 2.19 |
| AIA Group Limited | 0 | 825,000 | 151.91 | 3.31 | 825,000 | 140.05 | 3.07 |
| Insurance Total | 0 | 825,000 | 151.91 | 3.31 | 825,000 | 140.05 | 3.07 |
| JSE Ltd. | 0 | 130,000 | 20.56 | 0.45 | 130,000 | 18.65 | 0.41 |
| Investment Banking and Brokerage Services Total | 0 | 130,000 | 20.56 | 0.45 | 130,000 | 18.65 | 0.41 |
| Granate BCI Money Market - C | 1,656 | 95,911 | 0.10 | 0.00 | 94,255 | 0.09 | 0.00 |
| Money Market Total | 1,656 | 95,911 | 0.10 | 0.00 | 94,255 | 0.09 | 0.00 |
| OUTsurance Group Ltd. | 30,000 | 2,450,000 | 170.20 | 3.70 | 2,420,000 | 173.42 | 3.80 |
| Santam Ltd. | 43,000 | 338,000 | 132.13 | 2.88 | 295,000 | 126.10 | 2.76 |
| Non-life Insurance Total | 73,000 | 2,788,000 | 302.33 | 6.58 | 2,715,000 | 299.51 | 6.56 |
| Shoprite Holdings Ltd. | 0 | 345,000 | 95.97 | 2.09 | 345,000 | 93.23 | 2.04 |
| Personal Care, Drug and Grocery Stores Total | 0 | 345,000 | 95.97 | 2.09 | 345,000 | 93.23 | 2.04 |
| Northam Platinum Holdings Ltd. | -14,000 | 166,000 | 56.20 | 1.22 | 180,000 | 60.68 | 1.33 |
| Valterra Platinum Ltd. | -3,000 | 45,000 | 62.07 | 1.35 | 48,000 | 67.66 | 1.48 |
| Precious Metals and Mining Total | -17,000 | 211,000 | 118.26 | 2.57 | 228,000 | 128.34 | 2.81 |
| Hyprop Investments Ltd. | 50,000 | 1,350,000 | 71.87 | 1.56 | 1,300,000 | 74.13 | 1.62 |
| SA Corporate Real Estate Ltd. | -1,000,000 | 16,000,000 | 51.04 | 1.11 | 17,000,000 | 61.20 | 1.34 |
| Real Estate Investment Trusts Total | -950,000 | 17,350,000 | 122.91 | 2.68 | 18,300,000 | 135.33 | 2.96 |
| Shopify | 2,500 | 32,500 | 61.80 | 1.35 | 30,000 | 81.24 | 1.78 |
| Retail Total | 2,500 | 32,500 | 61.80 | 1.35 | 30,000 | 81.24 | 1.78 |
| CA Sales Holdings Ltd. | 0 | 5,045,000 | 69.12 | 1.50 | 5,045,000 | 74.87 | 1.64 |
| KAL Group Ltd. | 50,000 | 2,825,000 | 127.10 | 2.77 | 2,775,000 | 138.75 | 3.04 |
| Mr Price Group Ltd. | -240,000 | 0 | 0.00 | 0.00 | 240,000 | 42.00 | 0.92 |
| Pepkor Holdings Ltd. | 750,000 | 750,000 | 16.84 | 0.37 | 0 | 0.00 | 0.00 |
| Retailers Total | 560,000 | 8,620,000 | 213.05 | 4.64 | 8,060,000 | 255.61 | 5.60 |
| Applied Materials Incorporated | -10,250 | 6,000 | 32.98 | 0.72 | 16,250 | 69.87 | 1.53 |
| Microsoft Corporation | 8,200 | 14,650 | 89.46 | 1.95 | 6,450 | 52.00 | 1.14 |
| Taiwan Semiconductors | 0 | 60,500 | 326.53 | 7.11 | 60,500 | 300.40 | 6.58 |
| Tokyo Electron Ltd | -8,000 | 8,000 | 32.04 | 0.70 | 16,000 | 57.99 | 1.27 |
| Technology Total | -10,050 | 89,150 | 481.01 | 10.47 | 99,200 | 480.25 | 10.52 |
| Spur Corporation Ltd. | 372,056 | 916,000 | 35.72 | 0.78 | 543,944 | 20.81 | 0.46 |
| Travel and Leisure Total | 372,056 | 916,000 | 35.72 | 0.78 | 543,944 | 20.81 | 0.46 |
| Portfolio Total | -111,452,522 | 450,339,541 | 4,594.23 | 100.00 | 561,792,063 | 4,565.40 | 100.00 |