| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Absa Group Ltd. | 0 | 283,703 | 50.05 | 4.26 | 283,703 | 53.83 | 4.46 |
| Capitec Bank Holdings Ltd. | 0 | 3,641 | 11.22 | 0.96 | 3,641 | 11.41 | 0.95 |
| FirstRand Ltd. | 0 | 509,441 | 36.64 | 3.12 | 509,441 | 38.70 | 3.21 |
| Nedbank Group Ltd. | 0 | 151,675 | 38.86 | 3.31 | 151,675 | 42.73 | 3.54 |
| Standard Bank Group Ltd. | 0 | 219,433 | 52.70 | 4.49 | 219,433 | 48.66 | 4.03 |
| Banks Total | 0 | 1,167,893 | 189.47 | 16.15 | 1,167,893 | 195.33 | 16.20 |
| Cash on call | 0 | 0 | 38.95 | 3.32 | 0 | 24.79 | 2.06 |
| Cash on call Total | 0 | 0 | 38.95 | 3.32 | 0 | 24.79 | 2.06 |
| ADvTECH Ltd. | 0 | 730,935 | 24.18 | 2.06 | 730,935 | 24.73 | 2.05 |
| Consumer Services Total | 0 | 730,935 | 24.18 | 2.06 | 730,935 | 24.73 | 2.05 |
| Alphabet Inc A | 0 | 14,610 | 41.45 | 3.53 | 14,610 | 52.70 | 4.37 |
| Cyclical Goods & Services Total | 0 | 14,610 | 41.45 | 3.53 | 14,610 | 52.70 | 4.37 |
| Brookfield Corporation | -5,900 | 21,184 | 20.19 | 1.72 | 27,084 | 29.30 | 2.43 |
| Financial Services Total | -5,900 | 21,184 | 20.19 | 1.72 | 27,084 | 29.30 | 2.43 |
| Brookfield Asset Management Inc | -32,425 | 0 | 0.00 | 0.00 | 32,425 | 33.38 | 2.77 |
| Financials Total | -32,425 | 0 | 0.00 | 0.00 | 32,425 | 33.38 | 2.77 |
| European - Currency | 0 | 0 | 0.04 | 0.00 | 0 | 0.04 | 0.00 |
| Hong Kong - Currency | 0 | 0 | 0.10 | 0.01 | 0 | 0.11 | 0.01 |
| USA - Currency | 0 | 0 | 65.04 | 5.54 | 0 | 48.55 | 4.03 |
| For Currency Total | 0 | 0 | 65.18 | 5.55 | 0 | 48.69 | 4.04 |
| The Bidvest Group Ltd. | 0 | 139,171 | 32.76 | 2.79 | 139,171 | 36.70 | 3.04 |
| General Industrials Total | 0 | 139,171 | 32.76 | 2.79 | 139,171 | 36.70 | 3.04 |
| Cigna Corporation | -1,775 | 0 | 0.00 | 0.00 | 1,775 | 9.21 | 0.76 |
| Novo-Nordisk A/S | 18,995 | 18,995 | 24.48 | 2.09 | 0 | 0.00 | 0.00 |
| Healthcare Total | 17,220 | 18,995 | 24.48 | 2.09 | 1,775 | 9.21 | 0.76 |
| Anglo American plc | 0 | 126,511 | 65.23 | 5.56 | 126,511 | 69.82 | 5.79 |
| Glencore plc | 0 | 430,000 | 28.78 | 2.45 | 430,000 | 35.91 | 2.98 |
| Industrial Metals and Mining Total | 0 | 556,511 | 94.01 | 8.01 | 556,511 | 105.73 | 8.77 |
| Nedgroup Investments Global EM Eqt Feed - C | 17,315 | 2,646,408 | 36.77 | 3.13 | 2,629,093 | 36.89 | 3.06 |
| Nedgroup Inv Global Equity Feeder - C | 16,564 | 2,623,795 | 48.15 | 4.10 | 2,607,231 | 48.35 | 4.01 |
| International Total | 33,879 | 5,270,203 | 84.92 | 7.24 | 5,236,324 | 85.24 | 7.07 |
| Ninety One Ltd. | 353,000 | 353,000 | 12.25 | 1.04 | 0 | 0.00 | 0.00 |
| Quilter plc | 0 | 956,147 | 33.90 | 2.89 | 956,147 | 34.00 | 2.82 |
| Remgro Ltd. | 0 | 326,605 | 50.83 | 4.33 | 326,605 | 50.66 | 4.20 |
| Investment Banking and Brokerage Services Total | 353,000 | 1,635,752 | 96.97 | 8.26 | 1,282,752 | 84.66 | 7.02 |
| Discovery Ltd. | -30,000 | 124,593 | 24.81 | 2.11 | 154,593 | 30.11 | 2.50 |
| Sanlam Ltd. | 0 | 351,818 | 29.37 | 2.50 | 351,818 | 30.57 | 2.53 |
| Life Insurance Total | -30,000 | 476,411 | 54.18 | 4.62 | 506,411 | 60.68 | 5.03 |
| Walt Disney Company | 0 | 12,445 | 22.44 | 1.91 | 12,445 | 26.09 | 2.16 |
| Media Total | 0 | 12,445 | 22.44 | 1.91 | 12,445 | 26.09 | 2.16 |
| Nedgroup Inv Money Market - B | 2 | 61 | 0.00 | 0.00 | 59 | 0.00 | 0.00 |
| Nedgroup Inv Money Market - C1 | 3,490 | 173,948 | 0.18 | 0.01 | 170,458 | 0.17 | 0.01 |
| Money Market Total | 3,492 | 174,009 | 0.18 | 0.01 | 170,517 | 0.17 | 0.01 |
| Bid Corporation Ltd. | 0 | 65,052 | 28.61 | 2.44 | 65,052 | 28.01 | 2.32 |
| The SPAR Group Ltd. | 0 | 205,171 | 24.42 | 2.08 | 205,171 | 29.97 | 2.49 |
| Personal Care, Drug and Grocery Stores Total | 0 | 270,223 | 53.03 | 4.52 | 270,223 | 57.98 | 4.81 |
| Compagnie Financière Richemont SA | -4,860 | 11,008 | 35.16 | 3.00 | 15,868 | 44.05 | 3.65 |
| Personal Goods Total | -4,860 | 11,008 | 35.16 | 3.00 | 15,868 | 44.05 | 3.65 |
| Aspen Pharmacare Holdings Ltd. | 103,000 | 176,000 | 28.61 | 2.44 | 73,000 | 12.03 | 1.00 |
| Pharmaceuticals and Biotechnology Total | 103,000 | 176,000 | 28.61 | 2.44 | 73,000 | 12.03 | 1.00 |
| Mr Price Group Ltd. | 0 | 91,562 | 20.28 | 1.73 | 91,562 | 27.03 | 2.24 |
| The Foschini Group Ltd. | 0 | 226,200 | 27.89 | 2.38 | 226,200 | 38.36 | 3.18 |
| Retailers Total | 0 | 317,762 | 48.17 | 4.11 | 317,762 | 65.40 | 5.42 |
| Altron Ltd. | 0 | 1,400,926 | 28.72 | 2.45 | 1,400,926 | 29.77 | 2.47 |
| Naspers Ltd. | -900 | 5,050 | 22.94 | 1.95 | 5,950 | 24.83 | 2.06 |
| Prosus NV | -9,800 | 78,555 | 66.13 | 5.64 | 88,355 | 66.18 | 5.49 |
| Software and Computer Services Total | -10,700 | 1,484,531 | 117.79 | 10.04 | 1,495,231 | 120.78 | 10.02 |
| Amazon.Com | 1,750 | 5,136 | 18.20 | 1.55 | 3,386 | 14.13 | 1.17 |
| Technology Total | 1,750 | 5,136 | 18.20 | 1.55 | 3,386 | 14.13 | 1.17 |
| MTN Group Ltd. | -52,000 | 281,326 | 34.86 | 2.97 | 333,326 | 30.66 | 2.54 |
| Telecommunications Service Providers Total | -52,000 | 281,326 | 34.86 | 2.97 | 333,326 | 30.66 | 2.54 |
| British American Tobacco plc | 0 | 63,130 | 48.24 | 4.11 | 63,130 | 43.57 | 3.61 |
| Tobacco Total | 0 | 63,130 | 48.24 | 4.11 | 63,130 | 43.57 | 3.61 |
| Portfolio Total | 376,456 | 12,827,235 | 1,173.43 | 100.00 | 12,450,779 | 1,206.00 | 100.00 |