| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Capitec Bank Holdings Ltd. | 0 | 187,637 | 588.12 | 12.90 | 187,637 | 572.18 | 13.30 |
| FirstRand Ltd. | 0 | 1,234,922 | 93.80 | 2.06 | 1,234,922 | 102.78 | 2.39 |
| ICICI Bank Ltd | 0 | 174,210 | 99.00 | 2.17 | 174,210 | 91.75 | 2.13 |
| Nu Holdings Ltd | -308,816 | 0 | 0.00 | 0.00 | 308,816 | 73.72 | 1.71 |
| Banks Total | -308,816 | 1,596,769 | 780.92 | 17.12 | 1,905,585 | 840.43 | 19.53 |
| Cash on call | 0 | 0 | 50.70 | 1.11 | 0 | 13.97 | 0.32 |
| Cash on call Total | 0 | 0 | 50.70 | 1.11 | 0 | 13.97 | 0.32 |
| Sasol Ltd. | 0 | 145,433 | 12.11 | 0.27 | 145,433 | 16.92 | 0.39 |
| Chemicals Total | 0 | 145,433 | 12.11 | 0.27 | 145,433 | 16.92 | 0.39 |
| African Rainbow Capital Investments Ltd. | 0 | 10,301,691 | 95.81 | 2.10 | 10,301,691 | 74.69 | 1.74 |
| Closed End Investments Total | 0 | 10,301,691 | 95.81 | 2.10 | 10,301,691 | 74.69 | 1.74 |
| Wilson Bayly Holmes - Ovcon Ltd. | 0 | 74,347 | 17.34 | 0.38 | 74,347 | 17.21 | 0.40 |
| Construction and Materials Total | 0 | 74,347 | 17.34 | 0.38 | 74,347 | 17.21 | 0.40 |
| Curro Holdings Ltd. | 0 | 3,149,214 | 41.10 | 0.90 | 3,149,214 | 42.36 | 0.98 |
| Stadio Holdings Ltd. | 0 | 9,555,139 | 65.93 | 1.45 | 9,555,139 | 57.71 | 1.34 |
| Alibaba Group Holdings Limited | 0 | 8,965 | 14.22 | 0.31 | 8,965 | 16.56 | 0.38 |
| Consumer Services Total | 0 | 12,713,318 | 121.25 | 2.66 | 12,713,318 | 116.63 | 2.71 |
| Albemarle Corp. | 0 | 7,000 | 11.41 | 0.25 | 7,000 | 11.61 | 0.27 |
| Alphabet Inc A | 0 | 14,800 | 53.38 | 1.17 | 14,800 | 41.76 | 0.97 |
| Alphabet Inc C | 0 | 13,600 | 49.42 | 1.08 | 13,600 | 38.69 | 0.90 |
| Hermes International | 248 | 478 | 21.71 | 0.48 | 230 | 9.80 | 0.23 |
| Cyclical Goods & Services Total | 248 | 35,878 | 135.92 | 2.98 | 35,630 | 101.85 | 2.37 |
| Foreign - Equity Derivatives | 0 | 0 | 121.48 | 2.66 | 0 | 8.95 | 0.21 |
| Sanlam Anchor Global Equity Fund | 0 | 537,997 | 30.63 | 0.67 | 537,997 | 25.42 | 0.59 |
| Equities Total | 0 | 537,997 | 152.11 | 3.34 | 537,997 | 34.37 | 0.80 |
| Sygnia Itrix 4th Industrial Rev Glb Eqt Actively Managed ETF | 0 | 638,694 | 33.98 | 0.75 | 638,694 | 29.09 | 0.68 |
| Exchange Traded Funds Total | 0 | 638,694 | 33.98 | 0.75 | 638,694 | 29.09 | 0.68 |
| Transaction Capital Ltd. | 0 | 1,136,352 | 2.77 | 0.06 | 1,136,352 | 3.32 | 0.08 |
| Finance and Credit Services Total | 0 | 1,136,352 | 2.77 | 0.06 | 1,136,352 | 3.32 | 0.08 |
| Brookfield Corporation | 0 | 26,338 | 28.49 | 0.62 | 26,338 | 24.20 | 0.56 |
| Citigroup | 0 | 33,723 | 44.77 | 0.98 | 33,723 | 35.91 | 0.83 |
| PayPal Holdings Inc | 0 | 5,970 | 9.62 | 0.21 | 5,970 | 8.00 | 0.19 |
| Scottish Mortgage Investment Trust Plc | 0 | 25,482 | 5.75 | 0.13 | 25,482 | 4.95 | 0.12 |
| Financial Services Total | 0 | 91,513 | 88.63 | 1.94 | 91,513 | 73.06 | 1.70 |
| Brookfield Asset Management Inc | 0 | 6,584 | 6.78 | 0.15 | 6,584 | 5.35 | 0.12 |
| Financials Total | 0 | 6,584 | 6.78 | 0.15 | 6,584 | 5.35 | 0.12 |
| Libstar Holdings Ltd. | 0 | 1,845,474 | 8.03 | 0.18 | 1,845,474 | 7.38 | 0.17 |
| Food Producers Total | 0 | 1,845,474 | 8.03 | 0.18 | 1,845,474 | 7.38 | 0.17 |
| European - Currency | 0 | 0 | 0.05 | 0.00 | 0 | 0.69 | 0.02 |
| Foreign - Money Market | 0 | 0 | 0.00 | 0.00 | 0 | 86.12 | 2.00 |
| United Kingdom - Currency | 0 | 0 | 0.08 | 0.00 | 0 | 0.07 | 0.00 |
| USA - Currency | 0 | 0 | 41.84 | 0.92 | 0 | 66.38 | 1.54 |
| For Currency Total | 0 | 0 | 41.97 | 0.92 | 0 | 153.26 | 3.56 |
| Foreign - Equities | 0 | 0 | 65.18 | 1.43 | 0 | 3.48 | 0.08 |
| Foreign Invest Total | 0 | 0 | 65.18 | 1.43 | 0 | 3.48 | 0.08 |
| The Bidvest Group Ltd. | 0 | 195,753 | 51.61 | 1.13 | 195,753 | 57.11 | 1.33 |
| General Industrials Total | 0 | 195,753 | 51.61 | 1.13 | 195,753 | 57.11 | 1.33 |
| ASML Holding NV | 0 | 2,183 | 29.05 | 0.64 | 2,183 | 31.45 | 0.73 |
| Samsung Electronics NV | 0 | 1,003 | 17.21 | 0.38 | 1,003 | 20.30 | 0.47 |
| Goods & Services Total | 0 | 3,186 | 46.27 | 1.01 | 3,186 | 51.75 | 1.20 |
| AbbVie Inc | 0 | 14,741 | 48.99 | 1.07 | 14,741 | 49.42 | 1.15 |
| Johnson & Johnson | 0 | 9,257 | 25.03 | 0.55 | 9,257 | 25.71 | 0.60 |
| Healthcare Total | 0 | 23,998 | 74.01 | 1.62 | 23,998 | 75.13 | 1.75 |
| Afrimat Ltd. | 0 | 1,236,758 | 87.75 | 1.92 | 1,236,758 | 83.94 | 1.95 |
| BHP Group Ltd. | 1,839 | 77,120 | 35.50 | 0.78 | 75,281 | 41.50 | 0.96 |
| Industrial Metals and Mining Total | 1,839 | 1,313,878 | 123.25 | 2.70 | 1,312,039 | 125.44 | 2.91 |
| Grindrod Ltd. | 0 | 1,362,941 | 16.30 | 0.36 | 1,362,941 | 20.58 | 0.48 |
| Santova Ltd. | 0 | 1,265,147 | 9.18 | 0.20 | 1,265,147 | 9.94 | 0.23 |
| Industrial Transportation Total | 0 | 2,628,088 | 25.49 | 0.56 | 2,628,088 | 30.52 | 0.71 |
| Ping AN Insurance | 0 | 41,151 | 9.12 | 0.20 | 41,151 | 9.08 | 0.21 |
| Insurance Total | 0 | 41,151 | 9.12 | 0.20 | 41,151 | 9.08 | 0.21 |
| Coronation Fund Managers Ltd. | 0 | 822,072 | 32.19 | 0.71 | 822,072 | 32.21 | 0.75 |
| Ninety One Ltd. | 0 | 589,500 | 20.42 | 0.45 | 589,500 | 24.12 | 0.56 |
| PSG Financial Services Ltd. | 0 | 4,143,364 | 81.29 | 1.78 | 4,143,364 | 76.03 | 1.77 |
| Reinet Investments SCA | 0 | 35,308 | 15.79 | 0.35 | 35,308 | 16.96 | 0.39 |
| Remgro Ltd. | -127,310 | 1,342,443 | 208.21 | 4.57 | 1,469,753 | 231.69 | 5.38 |
| Investment Banking and Brokerage Services Total | -127,310 | 6,932,687 | 357.91 | 7.85 | 7,059,997 | 381.01 | 8.85 |
| Discovery Ltd. | 0 | 90,095 | 17.55 | 0.38 | 90,095 | 15.50 | 0.36 |
| Sanlam Ltd. | 226,504 | 226,504 | 19.68 | 0.43 | 0 | 0.00 | 0.00 |
| Life Insurance Total | 226,504 | 316,599 | 37.23 | 0.82 | 90,095 | 15.50 | 0.36 |
| Bid Corporation Ltd. | 0 | 133,510 | 57.49 | 1.26 | 133,510 | 59.59 | 1.38 |
| Shoprite Holdings Ltd. | 0 | 193,332 | 56.94 | 1.25 | 193,332 | 56.52 | 1.31 |
| Personal Care, Drug and Grocery Stores Total | 0 | 326,842 | 114.42 | 2.51 | 326,842 | 116.11 | 2.70 |
| Compagnie Financière Richemont SA | 0 | 15,136 | 42.02 | 0.92 | 15,136 | 41.26 | 0.96 |
| Personal Goods Total | 0 | 15,136 | 42.02 | 0.92 | 15,136 | 41.26 | 0.96 |
| Aspen Pharmacare Holdings Ltd. | 0 | 111,505 | 18.38 | 0.40 | 111,505 | 21.73 | 0.50 |
| Pharmaceuticals and Biotechnology Total | 0 | 111,505 | 18.38 | 0.40 | 111,505 | 21.73 | 0.50 |
| CA Sales Holdings Ltd. | 0 | 2,347,929 | 38.04 | 0.83 | 2,347,929 | 34.66 | 0.81 |
| KAL Group Ltd. | 0 | 333,200 | 16.99 | 0.37 | 333,200 | 16.93 | 0.39 |
| Mr Price Group Ltd. | 0 | 127,315 | 37.59 | 0.82 | 127,315 | 34.37 | 0.80 |
| We Buy Cars Holdings Ltd. | 0 | 371,337 | 15.99 | 0.35 | 371,337 | 11.08 | 0.26 |
| Woolworths Holdings Ltd. | 0 | 204,380 | 12.74 | 0.28 | 204,380 | 13.90 | 0.32 |
| Retailers Total | 0 | 3,384,161 | 121.35 | 2.66 | 3,384,161 | 110.93 | 2.58 |
| Naspers Ltd. | 0 | 104,331 | 435.40 | 9.55 | 104,331 | 441.09 | 10.25 |
| Prosus NV | 0 | 370,780 | 277.73 | 6.09 | 370,780 | 280.90 | 6.53 |
| Software and Computer Services Total | 0 | 475,111 | 713.13 | 15.64 | 475,111 | 722.00 | 16.78 |
| Amazon.Com | 0 | 22,700 | 94.74 | 2.08 | 22,700 | 73.44 | 1.71 |
| Apple Computer Company | 0 | 28,052 | 133.43 | 2.93 | 28,052 | 109.98 | 2.56 |
| Fortinet Inc | 0 | 26,570 | 47.67 | 1.05 | 26,570 | 35.42 | 0.82 |
| Meta Platforms Inc | 0 | 10,195 | 113.68 | 2.49 | 10,195 | 99.55 | 2.31 |
| Microsoft Corporation | 0 | 24,500 | 196.30 | 4.30 | 24,500 | 180.48 | 4.19 |
| Nvidia Corporation | 0 | 144,170 | 373.85 | 8.20 | 144,170 | 301.24 | 7.00 |
| Technology Total | 0 | 256,187 | 959.68 | 21.04 | 256,187 | 800.10 | 18.59 |
| AT&T Corporation | 0 | 62,368 | 26.60 | 0.58 | 62,368 | 23.51 | 0.55 |
| Verizon Commmunications | 0 | 10,033 | 7.49 | 0.16 | 10,033 | 7.75 | 0.18 |
| Telecom Total | 0 | 72,401 | 34.09 | 0.75 | 72,401 | 31.26 | 0.73 |
| British American Tobacco plc | -29,627 | 317,504 | 219.12 | 4.80 | 347,131 | 223.37 | 5.19 |
| Tobacco Total | -29,627 | 317,504 | 219.12 | 4.80 | 347,131 | 223.37 | 5.19 |
| Portfolio Total | -237,162 | 45,538,237 | 4,560.58 | 100.00 | 45,775,399 | 4,303.32 | 100.00 |