| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Barclays Plc | -109,032 | 374,062 | 32.96 | 1.36 | 483,094 | 51.21 | 1.94 |
| Banks Total | -109,032 | 374,062 | 32.96 | 1.36 | 483,094 | 51.21 | 1.94 |
| Anglo American Ltd | -6,416 | 48,126 | 34.46 | 1.42 | 54,542 | 37.48 | 1.42 |
| Barrick Gold | -64,711 | 45,605 | 29.77 | 1.23 | 110,316 | 80.68 | 3.05 |
| Rheinmetal Berlin | 0 | 616 | 17.42 | 0.72 | 616 | 18.70 | 0.71 |
| Basic Resources Total | -71,127 | 94,347 | 81.65 | 3.36 | 165,474 | 136.85 | 5.18 |
| SA Bond R2040 | -107,800,000 | 0 | 0.00 | 0.00 | 107,800,000 | 112.32 | 4.25 |
| Bond Total | -107,800,000 | 0 | 0.00 | 0.00 | 107,800,000 | 112.32 | 4.25 |
| Ishares 20+ USD Treasury Bond ETF | 17,975 | 17,975 | 26.54 | 1.09 | 0 | 0.00 | 0.00 |
| JPMorgan USD Ultra-Short Income UCITS ETF | 0 | 51,007 | 43.88 | 1.81 | 51,007 | 42.96 | 1.63 |
| Bonds Total | 17,975 | 68,982 | 70.42 | 2.90 | 51,007 | 42.96 | 1.63 |
| Cash on call | 0 | 0 | 264.51 | 10.89 | 0 | 49.54 | 1.88 |
| Margin Account | 0 | 0 | 0.00 | 0.00 | 0 | 0.01 | 0.00 |
| Cash on call Total | 0 | 0 | 264.51 | 10.89 | 0 | 49.55 | 1.88 |
| Sasol Ltd. | 185,046 | 185,046 | 41.55 | 1.71 | 0 | 0.00 | 0.00 |
| Chemicals Total | 185,046 | 185,046 | 41.55 | 1.71 | 0 | 0.00 | 0.00 |
| Newmont Mining Corp. (NMC) | -22,548 | 16,938 | 29.71 | 1.22 | 39,486 | 66.52 | 2.52 |
| Construction Total | -22,548 | 16,938 | 29.71 | 1.22 | 39,486 | 66.52 | 2.52 |
| Alphabet Inc A | 10,560 | 20,035 | 93.22 | 3.84 | 9,475 | 49.18 | 1.86 |
| Booking Holdings | -174 | 0 | 0.00 | 0.00 | 174 | 15.62 | 0.59 |
| Hermes International | 0 | 8,690 | 27.31 | 1.12 | 8,690 | 35.76 | 1.35 |
| Hilton Worldwide Holdings Inc | 0 | 8,060 | 40.57 | 1.67 | 8,060 | 38.71 | 1.47 |
| Netflix Inc | -32,480 | 0 | 0.00 | 0.00 | 32,480 | 50.37 | 1.91 |
| Cyclical Goods & Services Total | -22,094 | 36,785 | 161.10 | 6.63 | 58,879 | 189.64 | 7.18 |
| ChevronTexaco Corp | 0 | 17,096 | 61.28 | 2.52 | 17,096 | 43.06 | 1.63 |
| NextEra Energy Inc | 17,087 | 17,087 | 26.76 | 1.10 | 0 | 0.00 | 0.00 |
| Energy Total | 17,087 | 34,183 | 88.04 | 3.63 | 17,096 | 43.06 | 1.63 |
| Ishares MSCI AC Far East Ex-Japan | -14,451 | 0 | 0.00 | 0.00 | 14,451 | 22.33 | 0.85 |
| iShares MSCI All Country Asia Ex Japan ETF | 29,745 | 29,745 | 47.06 | 1.94 | 0 | 0.00 | 0.00 |
| iShares MSCI Eurozone ETF | -53,653 | 0 | 0.00 | 0.00 | 53,653 | 57.16 | 2.16 |
| iShares MSCI Japan ETF | 20,638 | 56,239 | 77.99 | 3.21 | 35,601 | 47.68 | 1.80 |
| Equities Total | -17,721 | 85,984 | 125.05 | 5.15 | 103,705 | 127.17 | 4.81 |
| NewGold | -45,234 | 34,925 | 25.18 | 1.04 | 80,159 | 53.29 | 2.02 |
| Exchange Traded Funds Total | -45,234 | 34,925 | 25.18 | 1.04 | 80,159 | 53.29 | 2.02 |
| Deutsche Boerse AG | -3,018 | 0 | 0.00 | 0.00 | 3,018 | 13.13 | 0.50 |
| Mastercard Inc | -1,131 | 2,992 | 25.14 | 1.04 | 4,123 | 39.37 | 1.49 |
| Mercadolibre Inc | 0 | 447 | 12.31 | 0.51 | 447 | 14.94 | 0.57 |
| MSCI Inc | 0 | 4,174 | 37.77 | 1.56 | 4,174 | 40.19 | 1.52 |
| Financial Services Total | -4,149 | 7,613 | 75.23 | 3.10 | 11,762 | 107.63 | 4.07 |
| JP Morgan Chase & Company | -2,599 | 15,885 | 76.69 | 3.16 | 18,484 | 98.87 | 3.74 |
| Financials Total | -2,599 | 15,885 | 76.69 | 3.16 | 18,484 | 98.87 | 3.74 |
| Coca Cola | 0 | 11,121 | 14.51 | 0.60 | 11,121 | 12.89 | 0.49 |
| Food & Beverage Total | 0 | 11,121 | 14.51 | 0.60 | 11,121 | 12.89 | 0.49 |
| Canada - Currency | 0 | 0 | 29.63 | 1.22 | 0 | 14.95 | 0.57 |
| European - Currency | 0 | 0 | 50.08 | 2.06 | 0 | 49.12 | 1.86 |
| Foreign - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 91.14 | 3.45 |
| Japan - Currency | 0 | 0 | 16.06 | 0.66 | 0 | 0.00 | 0.00 |
| United Kingdom - Currency | 0 | 0 | 26.94 | 1.11 | 0 | 5.71 | 0.22 |
| USA - Currency | 0 | 0 | 18.66 | 0.77 | 0 | 21.38 | 0.81 |
| For Currency Total | 0 | 0 | 141.38 | 5.82 | 0 | 182.30 | 6.90 |
| Foreign - Equities | 0 | 0 | 79.26 | 3.26 | 0 | 96.91 | 3.67 |
| Foreign Invest Total | 0 | 0 | 79.26 | 3.26 | 0 | 96.91 | 3.67 |
| Simon Property Group Incorporated | 0 | 14,081 | 43.68 | 1.80 | 14,081 | 43.51 | 1.65 |
| Foreign Property Total | 0 | 14,081 | 43.68 | 1.80 | 14,081 | 43.51 | 1.65 |
| Caterpillar Inc | 621 | 5,118 | 58.11 | 2.39 | 4,497 | 42.94 | 1.63 |
| Fastenal Company | 0 | 30,224 | 23.20 | 0.96 | 30,224 | 20.43 | 0.77 |
| GE Vernova Inc | 379 | 3,792 | 52.75 | 2.17 | 3,413 | 37.23 | 1.41 |
| Lam Research Corporation | 6,417 | 6,417 | 21.85 | 0.90 | 0 | 0.00 | 0.00 |
| Philip Morris International | 0 | 7,216 | 20.39 | 0.84 | 7,216 | 19.48 | 0.74 |
| Procter & Gamble Company | 0 | 8,017 | 19.74 | 0.81 | 8,017 | 19.10 | 0.72 |
| Siemens AG | 0 | 6,509 | 26.36 | 1.09 | 6,509 | 30.27 | 1.15 |
| Waste Management | 0 | 11,301 | 44.21 | 1.82 | 11,301 | 41.51 | 1.57 |
| XPO Logistics Incorporated | 0 | 7,484 | 23.73 | 0.98 | 7,484 | 17.04 | 0.65 |
| Goods & Services Total | 7,417 | 86,078 | 290.34 | 11.96 | 78,661 | 228.00 | 8.63 |
| Amgen Incorporated | 0 | 6,426 | 38.15 | 1.57 | 6,426 | 34.93 | 1.32 |
| Boston Scientific Corporation | 0 | 9,280 | 9.93 | 0.41 | 9,280 | 14.73 | 0.56 |
| Eli Lilly & Company | -809 | 3,309 | 49.91 | 2.06 | 4,118 | 73.54 | 2.78 |
| Intuitive Surgical Inc | 0 | 3,457 | 26.63 | 1.10 | 3,457 | 32.74 | 1.24 |
| Healthcare Total | -809 | 22,472 | 124.63 | 5.13 | 23,281 | 155.94 | 5.90 |
| Berkshire Hathaway Inc | -1,689 | 4,534 | 36.61 | 1.51 | 6,223 | 51.84 | 1.96 |
| Prudential Plc | 0 | 21,968 | 35.31 | 1.45 | 21,968 | 41.30 | 1.56 |
| Insurance Total | -1,689 | 26,502 | 71.92 | 2.96 | 28,191 | 93.14 | 3.53 |
| Colgate Palmolive | 0 | 14,561 | 21.24 | 0.87 | 14,561 | 19.15 | 0.72 |
| Costco Wholesale Corporation | 0 | 2,023 | 34.30 | 1.41 | 2,023 | 28.96 | 1.10 |
| Visa Inc | -2,035 | 7,325 | 37.33 | 1.54 | 9,360 | 54.74 | 2.07 |
| Retail Total | -2,035 | 23,909 | 92.86 | 3.82 | 25,944 | 102.85 | 3.89 |
| Amazon.Com | -1,992 | 14,448 | 49.39 | 2.03 | 16,440 | 63.22 | 2.39 |
| Apple Computer Company | 0 | 18,266 | 76.64 | 3.16 | 18,266 | 82.49 | 3.12 |
| Broadcom Corporation | 0 | 5,252 | 26.22 | 1.08 | 5,252 | 30.39 | 1.15 |
| Meta Platforms Inc | 0 | 6,151 | 56.13 | 2.31 | 6,151 | 67.74 | 2.56 |
| Microsoft Corporation | -2,280 | 12,420 | 75.84 | 3.12 | 14,700 | 118.51 | 4.49 |
| Nvidia Corporation | -8,834 | 34,199 | 96.10 | 3.96 | 43,033 | 133.47 | 5.05 |
| Palantir Technologies | 0 | 8,572 | 20.06 | 0.83 | 8,572 | 25.64 | 0.97 |
| Palo Alto Networks Inc | 0 | 10,348 | 27.17 | 1.12 | 10,348 | 31.98 | 1.21 |
| SAP SE (spons. ADRs) | -8,098 | 0 | 0.00 | 0.00 | 8,098 | 32.80 | 1.24 |
| Taiwan Semiconductors | -2,577 | 9,674 | 52.25 | 2.15 | 12,251 | 60.82 | 2.30 |
| Tokyo Electron Ltd | 4,520 | 4,520 | 18.10 | 0.75 | 0 | 0.00 | 0.00 |
| Technology Total | -19,261 | 123,850 | 497.90 | 20.50 | 143,111 | 647.07 | 24.49 |
| Portfolio Total | -107,890,773 | 1,262,763 | 2,428.55 | 100.00 | 109,153,536 | 2,641.69 | 100.00 |