| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Investec Ltd. | 104,501 | 2,576,198 | 293.61 | 1.02 | 2,471,697 | 1,446.81 | 5.22 |
| Investec plc | 9,406,842 | 9,406,842 | 1,071.44 | 3.70 | 0 | 0.00 | 0.00 |
| Nedbank Group Ltd. | -196,713 | 8,106,508 | 2,085.40 | 7.21 | 8,303,221 | 2,339.10 | 8.45 |
| Standard Bank Group Ltd. | 54,314 | 11,986,952 | 2,869.80 | 9.92 | 11,932,638 | 2,646.18 | 9.56 |
| Banks Total | 9,368,944 | 32,076,500 | 6,320.24 | 21.85 | 22,707,556 | 6,432.09 | 23.23 |
| Anheuser-Busch InBev SA/NV | -563,146 | 2,035,465 | 2,301.30 | 7.96 | 2,598,611 | 2,437.45 | 8.80 |
| Beverages Total | -563,146 | 2,035,465 | 2,301.30 | 7.96 | 2,598,611 | 2,437.45 | 8.80 |
| Cash on call | 0 | 0 | 72.96 | 0.25 | 0 | 41.11 | 0.15 |
| Cash on call Total | 0 | 0 | 72.96 | 0.25 | 0 | 41.11 | 0.15 |
| Industrials positions individually less than 1% of fund | 0 | 0 | 0.00 | 0.00 | 0 | 593.71 | 2.14 |
| Mondi plc | -1,070,789 | 3,673,200 | 999.85 | 3.46 | 4,743,989 | 1,316.46 | 4.75 |
| General Industrials Total | -1,070,789 | 3,673,200 | 999.85 | 3.46 | 4,743,989 | 1,910.17 | 6.90 |
| African Rainbow Minerals Ltd. | -446,905 | 5,432,932 | 792.66 | 2.74 | 5,879,837 | 884.27 | 3.19 |
| Anglo American plc | -437,046 | 1,224,199 | 629.93 | 2.18 | 1,661,245 | 916.76 | 3.31 |
| BHP Group Ltd. | 717,224 | 2,444,324 | 1,072.57 | 3.71 | 1,727,100 | 795.12 | 2.87 |
| Industrial Metals and Mining Total | -166,727 | 9,101,455 | 2,495.16 | 8.63 | 9,268,182 | 2,596.15 | 9.37 |
| Quilter plc | -7,105,630 | 32,749,433 | 1,144.59 | 3.96 | 39,855,063 | 1,417.25 | 5.12 |
| Investment Banking and Brokerage Services Total | -7,105,630 | 32,749,433 | 1,144.59 | 3.96 | 39,855,063 | 1,417.25 | 5.12 |
| Sanlam Ltd. | 709,932 | 14,897,236 | 1,232.75 | 4.26 | 14,187,304 | 1,232.59 | 4.45 |
| Life Insurance Total | 709,932 | 14,897,236 | 1,232.75 | 4.26 | 14,187,304 | 1,232.59 | 4.45 |
| Bid Corporation Ltd. | 1,499,865 | 1,499,865 | 659.12 | 2.28 | 0 | 0.00 | 0.00 |
| Dis-Chem Pharmacies Ltd. | 0 | 25,045,057 | 758.87 | 2.62 | 25,045,057 | 904.13 | 3.26 |
| Shoprite Holdings Ltd. | 999,389 | 3,295,205 | 898.64 | 3.11 | 2,295,816 | 676.12 | 2.44 |
| The SPAR Group Ltd. | -73,825 | 7,838,188 | 926.71 | 3.20 | 7,912,013 | 1,155.87 | 4.17 |
| Personal Care, Drug and Grocery Stores Total | 2,425,429 | 37,678,315 | 3,243.33 | 11.21 | 35,252,886 | 2,736.11 | 9.88 |
| Aspen Pharmacare Holdings Ltd. | 2,036,977 | 2,036,977 | 333.51 | 1.15 | 0 | 0.00 | 0.00 |
| Pharmaceuticals and Biotechnology Total | 2,036,977 | 2,036,977 | 333.51 | 1.15 | 0 | 0.00 | 0.00 |
| AngloGold Ashanti plc | -267,419 | 3,206,142 | 2,202.04 | 7.61 | 3,473,561 | 1,462.37 | 5.28 |
| Northam Platinum Holdings Ltd. | 670,370 | 9,870,568 | 1,292.25 | 4.47 | 9,200,198 | 896.19 | 3.24 |
| Precious Metals and Mining Total | 402,951 | 13,076,710 | 3,494.30 | 12.08 | 12,673,759 | 2,358.56 | 8.52 |
| Pepkor Holdings Ltd. | 1,787,337 | 47,589,167 | 1,214.95 | 4.20 | 45,801,830 | 1,325.96 | 4.79 |
| Woolworths Holdings Ltd. | 11,027,593 | 11,027,593 | 562.41 | 1.94 | 0 | 0.00 | 0.00 |
| Retailers Total | 12,814,930 | 58,616,760 | 1,777.36 | 6.15 | 45,801,830 | 1,325.96 | 4.79 |
| Naspers Ltd. | 36,129 | 616,850 | 2,786.93 | 9.64 | 580,721 | 2,423.48 | 8.75 |
| Prosus NV | -876,221 | 2,837,670 | 2,388.18 | 8.26 | 3,713,891 | 2,781.89 | 10.05 |
| Software and Computer Services Total | -840,092 | 3,454,520 | 5,175.11 | 17.89 | 4,294,612 | 5,205.37 | 18.80 |
| Vodacom Group Ltd. | 2,640,127 | 2,640,127 | 331.20 | 1.15 | 0 | 0.00 | 0.00 |
| Telecommunications Service Providers Total | 2,640,127 | 2,640,127 | 331.20 | 1.15 | 0 | 0.00 | 0.00 |
| Portfolio Total | 20,652,906 | 212,036,698 | 28,921.65 | 100.00 | 191,383,792 | 27,692.80 | 100.00 |