| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | -200,000 | 1,000,000 | 189.75 | 3.11 | 1,200,000 | 210.53 | 3.56 |
| Standard Bank Group Ltd. | 150,000 | 150,000 | 33.26 | 0.55 | 0 | 0.00 | 0.00 |
| TBC Bank Group PLC | 240,000 | 240,000 | 176.96 | 2.90 | 0 | 0.00 | 0.00 |
| Banks Total | 190,000 | 1,390,000 | 399.98 | 6.57 | 1,200,000 | 210.53 | 3.56 |
| SA Bond CLN864 | 0 | 32,500,000 | 43.62 | 0.72 | 32,500,000 | 43.61 | 0.74 |
| SA Bond CLN898 | 0 | 55,000,000 | 74.14 | 1.22 | 55,000,000 | 74.86 | 1.27 |
| SA Bond CLN938 | 0 | 24,000,000 | 24.11 | 0.40 | 24,000,000 | 24.10 | 0.41 |
| SA Bond I2029 | 56,300,000 | 170,340,000 | 227.29 | 3.73 | 114,040,000 | 151.31 | 2.56 |
| SA Bond R186 | 97,000,000 | 97,000,000 | 101.17 | 1.66 | 0 | 0.00 | 0.00 |
| SA Bond R2030 | 43,000,000 | 43,000,000 | 42.65 | 0.70 | 0 | 0.00 | 0.00 |
| SA Bond R2037 | 0 | 0 | 0.00 | 0.00 | 0 | -0.02 | 0.00 |
| SA Bond R2040 | 42,790,000 | 1,108,190,000 | 986.53 | 16.19 | 1,065,400,000 | 948.76 | 16.04 |
| SA Bond R210 | 0 | 225,550,000 | 545.68 | 8.96 | 225,550,000 | 540.32 | 9.13 |
| SA Bond R213 | 44,000,000 | 44,000,000 | 40.14 | 0.66 | 0 | 0.00 | 0.00 |
| SA Bond SSN211 | 0 | 23,800,000 | 56.65 | 0.93 | 23,800,000 | 56.01 | 0.95 |
| Bond Total | 283,090,000 | 1,823,380,000 | 2,141.97 | 35.16 | 1,540,290,000 | 1,838.95 | 31.08 |
| Cash on call | 0 | 0 | 150.12 | 2.46 | 0 | 653.49 | 11.05 |
| Margin Account | 0 | 0 | 15.44 | 0.25 | 0 | 28.88 | 0.49 |
| Cash on call Total | 0 | 0 | 165.56 | 2.72 | 0 | 682.37 | 11.53 |
| Omnia Holdings Ltd. | 0 | 60,000 | 4.69 | 0.08 | 60,000 | 3.90 | 0.07 |
| Sasol Ltd. | 0 | 874,000 | 72.78 | 1.19 | 874,000 | 101.43 | 1.71 |
| Chemicals Total | 0 | 934,000 | 77.46 | 1.27 | 934,000 | 105.33 | 1.78 |
| African Rainbow Capital Investments Ltd. | 0 | 8,200,000 | 76.26 | 1.25 | 8,200,000 | 59.61 | 1.01 |
| EPE Capital Partners Ltd. | 0 | 12,500,000 | 67.38 | 1.11 | 12,500,000 | 62.50 | 1.06 |
| Closed End Investments Total | 0 | 20,700,000 | 143.64 | 2.36 | 20,700,000 | 122.11 | 2.06 |
| Raubex Group Ltd. | 139,731 | 2,000,000 | 106.00 | 1.74 | 1,860,269 | 97.74 | 1.65 |
| Construction and Materials Total | 139,731 | 2,000,000 | 106.00 | 1.74 | 1,860,269 | 97.74 | 1.65 |
| Zeda Ltd. | 0 | 6,225,885 | 82.80 | 1.36 | 6,225,885 | 86.54 | 1.46 |
| Alibaba Group Holdings Limited | 365,000 | 365,000 | 94.06 | 1.54 | 0 | 0.00 | 0.00 |
| Consumer Services Total | 365,000 | 6,590,885 | 176.86 | 2.90 | 6,225,885 | 86.54 | 1.46 |
| Baidu.Com, Inc. | 20,000 | 20,000 | 31.82 | 0.52 | 0 | 0.00 | 0.00 |
| JDcom | 140,000 | 140,000 | 65.68 | 1.08 | 0 | 0.00 | 0.00 |
| LI Ning Company Limited | 350,000 | 350,000 | 13.99 | 0.23 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 510,000 | 510,000 | 111.50 | 1.83 | 0 | 0.00 | 0.00 |
| Bond Derivative | 0 | 0 | 398.07 | 6.53 | 0 | 626.66 | 10.59 |
| Equity Derivative | 0 | 0 | 32.37 | 0.53 | 0 | -56.79 | -0.96 |
| Derivatives Total | 0 | 0 | 430.44 | 7.07 | 0 | 569.88 | 9.63 |
| Reunert Ltd. | 0 | 360,000 | 27.00 | 0.44 | 360,000 | 29.16 | 0.49 |
| Electronic and Electrical Equipment Total | 0 | 360,000 | 27.00 | 0.44 | 360,000 | 29.16 | 0.49 |
| Shell Transport & Trading (Royal Dutch/Shell Group) | 655 | 655 | 0.38 | 0.01 | 0 | 0.00 | 0.00 |
| Energy Total | 655 | 655 | 0.38 | 0.01 | 0 | 0.00 | 0.00 |
| Abax Global Equity Fund | 450,000 | 450,000 | 178.60 | 2.93 | 0 | 0.00 | 0.00 |
| Foreign - Equity Derivatives | 0 | 0 | 113.14 | 1.86 | 0 | 24.17 | 0.41 |
| Equities Total | 450,000 | 450,000 | 291.74 | 4.79 | 0 | 24.17 | 0.41 |
| ST James Place | 160,000 | 160,000 | 32.82 | 0.54 | 0 | 0.00 | 0.00 |
| Financial Services Total | 160,000 | 160,000 | 32.82 | 0.54 | 0 | 0.00 | 0.00 |
| Heineken Holding NV | 18,000 | 18,000 | 20.35 | 0.33 | 0 | 0.00 | 0.00 |
| Food & Beverage Total | 18,000 | 18,000 | 20.35 | 0.33 | 0 | 0.00 | 0.00 |
| Oceana Group Ltd. | 0 | 85,000 | 5.74 | 0.09 | 85,000 | 5.87 | 0.10 |
| Premier Group Ltd. | -150,000 | 100,000 | 13.60 | 0.22 | 250,000 | 26.00 | 0.44 |
| Food Producers Total | -150,000 | 185,000 | 19.34 | 0.32 | 335,000 | 31.87 | 0.54 |
| European - Currency | 0 | 0 | 37.22 | 0.61 | 0 | 59.16 | 1.00 |
| Hong Kong - Currency | 0 | 0 | 0.23 | 0.00 | 0 | 22.91 | 0.39 |
| United Kingdom - Currency | 0 | 0 | 35.14 | 0.58 | 0 | -32.00 | -0.54 |
| USA - Currency | 0 | 0 | 21.18 | 0.35 | 0 | -54.23 | -0.92 |
| For Currency Total | 0 | 0 | 93.77 | 1.54 | 0 | -4.17 | -0.07 |
| Foreign - Bonds | 0 | 0 | 509.99 | 8.37 | 0 | 306.61 | 5.18 |
| Foreign - Equities | 0 | 0 | 108.63 | 1.78 | 0 | 669.52 | 11.32 |
| Foreign - Unit Trusts | 0 | 0 | 0.00 | 0.00 | 0 | 167.74 | 2.84 |
| Foreign Invest Total | 0 | 0 | 618.62 | 10.15 | 0 | 1,143.87 | 19.33 |
| Barloworld Ltd. | 0 | 190,000 | 20.62 | 0.34 | 190,000 | 16.45 | 0.28 |
| KAP Ltd. | 0 | 6,000,000 | 18.42 | 0.30 | 6,000,000 | 20.40 | 0.34 |
| General Industrials Total | 0 | 6,190,000 | 39.04 | 0.64 | 6,190,000 | 36.85 | 0.62 |
| Vinci SA | 10,000 | 10,000 | 19.49 | 0.32 | 0 | 0.00 | 0.00 |
| Goods & Services Total | 10,000 | 10,000 | 19.49 | 0.32 | 0 | 0.00 | 0.00 |
| Life Healthcare Group Holdings Ltd. | 0 | 2,200,000 | 36.04 | 0.59 | 2,200,000 | 35.20 | 0.60 |
| Health Care Providers Total | 0 | 2,200,000 | 36.04 | 0.59 | 2,200,000 | 35.20 | 0.60 |
| Anglo American plc | -35,000 | 0 | 0.00 | 0.00 | 35,000 | 19.57 | 0.33 |
| Master Drilling Group Ltd. | 0 | 3,200,000 | 43.49 | 0.71 | 3,200,000 | 40.96 | 0.69 |
| Merafe Resources Ltd. | 2,756,723 | 40,000,000 | 56.00 | 0.92 | 37,243,277 | 56.24 | 0.95 |
| Industrial Metals and Mining Total | 2,721,723 | 43,200,000 | 99.49 | 1.63 | 40,478,277 | 116.77 | 1.97 |
| Hudaco Industries Ltd. | 0 | 40,000 | 8.64 | 0.14 | 40,000 | 7.76 | 0.13 |
| Industrial Support Services Total | 0 | 40,000 | 8.64 | 0.14 | 40,000 | 7.76 | 0.13 |
| Brait plc | 0 | 53,705,238 | 111.17 | 1.82 | 53,705,238 | 78.95 | 1.33 |
| Brait plc | 0 | 50,000 | 38.15 | 0.63 | 50,000 | 31.86 | 0.54 |
| Coronation Fund Managers Ltd. | -400,000 | 0 | 0.00 | 0.00 | 400,000 | 15.64 | 0.26 |
| Ninety One Ltd. | 0 | 560,000 | 19.40 | 0.32 | 560,000 | 22.90 | 0.39 |
| Zeder Investments Ltd. | 0 | 2,590,033 | 4.09 | 0.07 | 2,590,033 | 5.18 | 0.09 |
| Investment Banking and Brokerage Services Total | -400,000 | 56,905,271 | 172.81 | 2.84 | 57,305,271 | 154.52 | 2.61 |
| Momentum Group Ltd. | 0 | 300,000 | 9.08 | 0.15 | 300,000 | 8.84 | 0.15 |
| Old Mutual Ltd. | 0 | 1,800,000 | 22.52 | 0.37 | 1,800,000 | 24.66 | 0.42 |
| Life Insurance Total | 0 | 2,100,000 | 31.60 | 0.52 | 2,100,000 | 33.50 | 0.57 |
| Bid Corporation Ltd. | 65,000 | 65,000 | 27.99 | 0.46 | 0 | 0.00 | 0.00 |
| Pick n Pay Stores Ltd. | 2,648,400 | 2,648,400 | 81.31 | 1.33 | 0 | 0.00 | 0.00 |
| Shoprite Holdings Ltd. | 121,960 | 121,960 | 35.92 | 0.59 | 0 | 0.00 | 0.00 |
| Personal Care, Drug and Grocery Stores Total | 2,835,360 | 2,835,360 | 145.21 | 2.38 | 0 | 0.00 | 0.00 |
| Adcock Ingram Holdings Ltd. | 66,208 | 156,208 | 10.47 | 0.17 | 90,000 | 6.32 | 0.11 |
| Pharmaceuticals and Biotechnology Total | 66,208 | 156,208 | 10.47 | 0.17 | 90,000 | 6.32 | 0.11 |
| Anglo American Platinum Ltd. | 91,200 | 91,200 | 51.89 | 0.85 | 0 | 0.00 | 0.00 |
| AngloGold Ashanti plc | 1,394 | 1,394 | 0.59 | 0.01 | 0 | 0.00 | 0.00 |
| Precious Metals and Mining Total | 92,594 | 92,594 | 52.48 | 0.86 | 0 | 0.00 | 0.00 |
| Balwin Properties Ltd. | 0 | 20,000,000 | 50.00 | 0.82 | 20,000,000 | 43.80 | 0.74 |
| MAS plc | 0 | 450,000 | 10.49 | 0.17 | 450,000 | 8.21 | 0.14 |
| Real Estate Investment and Services Total | 0 | 20,450,000 | 60.49 | 0.99 | 20,450,000 | 52.01 | 0.88 |
| Dipula Properties Ltd. | -1,400,000 | 23,500,000 | 125.26 | 2.06 | 24,900,000 | 118.28 | 2.00 |
| Hammerson plc | 0 | 180,000 | 12.01 | 0.20 | 180,000 | 13.22 | 0.22 |
| Octodec Investments Ltd. | 0 | 3,937,234 | 45.28 | 0.74 | 3,937,234 | 46.26 | 0.78 |
| Schroder European Real Estate Investment Trust plc | 0 | 600,000 | 9.25 | 0.15 | 600,000 | 10.13 | 0.17 |
| Spear REIT Ltd. | -950,000 | 0 | 0.00 | 0.00 | 950,000 | 9.17 | 0.16 |
| Stor-Age Property REIT Ltd. | 0 | 930,000 | 14.49 | 0.24 | 930,000 | 14.09 | 0.24 |
| Real Estate Investment Trusts Total | -2,350,000 | 29,147,234 | 206.28 | 3.39 | 31,497,234 | 211.15 | 3.57 |
| Auto Trader Group PLC | 250,000 | 250,000 | 122.42 | 2.01 | 0 | 0.00 | 0.00 |
| Retail Total | 250,000 | 250,000 | 122.42 | 2.01 | 0 | 0.00 | 0.00 |
| Combined Motor Holdings Ltd. | 0 | 700,000 | 23.10 | 0.38 | 700,000 | 24.49 | 0.41 |
| Italtile Ltd. | -190,000 | 1,800,000 | 25.45 | 0.42 | 1,990,000 | 24.89 | 0.42 |
| KAL Group Ltd. | 0 | 883,789 | 45.06 | 0.74 | 883,789 | 44.63 | 0.75 |
| Motus Holdings Ltd. | 50,000 | 50,000 | 6.08 | 0.10 | 0 | 0.00 | 0.00 |
| Retailers Total | -140,000 | 3,433,789 | 99.69 | 1.64 | 3,573,789 | 94.02 | 1.59 |
| Naspers Ltd. | -15,000 | 0 | 0.00 | 0.00 | 15,000 | 62.92 | 1.06 |
| Prosus NV | -85,000 | 0 | 0.00 | 0.00 | 85,000 | 64.28 | 1.09 |
| Software and Computer Services Total | -100,000 | 0 | 0.00 | 0.00 | 100,000 | 127.20 | 2.15 |
| Zoom Video Communications | 18,000 | 18,000 | 27.72 | 0.46 | 0 | 0.00 | 0.00 |
| Technology Total | 18,000 | 18,000 | 27.72 | 0.46 | 0 | 0.00 | 0.00 |
| MTN Group Ltd. | 0 | 580,000 | 53.35 | 0.88 | 580,000 | 53.26 | 0.90 |
| Telecommunications Service Providers Total | 0 | 580,000 | 53.35 | 0.88 | 580,000 | 53.26 | 0.90 |
| City Lodge Hotels Ltd. | 350,000 | 3,850,000 | 19.44 | 0.32 | 3,500,000 | 18.20 | 0.31 |
| Southern Sun Ltd. | 0 | 475,242 | 4.32 | 0.07 | 475,242 | 3.68 | 0.06 |
| Sun International Ltd. | 0 | 600,000 | 26.10 | 0.43 | 600,000 | 27.30 | 0.46 |
| Travel and Leisure Total | 350,000 | 4,925,242 | 49.86 | 0.82 | 4,575,242 | 49.18 | 0.83 |
| Portfolio Total | 288,127,271 | 2,029,212,238 | 6,092.47 | 100.00 | 1,741,084,967 | 5,916.10 | 100.00 |