The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
58.com, Inc. ADR ADR 31680Q104 1,031 29,146 SH   SOLE   29,146 0 0
Acadia Realty Trust Common 004239109 15,000 499,011 SH   SOLE   264,981 0 234,030
Adient PLC Common G0084W101 549,762 7,565,186 SH   SOLE   7,421,108 0 144,078
Aetna Inc. Common 00817Y108 531,100 4,163,857 SH   SOLE   4,079,719 0 84,138
Air Products & Chemicals, Inc. Common 009158106 250 1,848 SH   SOLE   0 0 1,848
Alexandria Real Estate Equities, Inc. Common 015271109 10,781 97,548 SH   SOLE   45,794 0 51,754
Alibaba Group Holding Ltd. ADR ADR 01609W102 43,592 404,270 SH   SOLE   404,270 0 0
Alphabet Inc., Class A Common 02079K305 668,953 789,046 SH   SOLE   773,992 0 15,054
Alphabet Inc., Class C Common 02079K107 1,037,510 1,250,676 SH   SOLE   1,232,891 0 17,785
Amazon.com, Inc. Common 023135106 1,532,144 1,728,229 SH   SOLE   1,698,308 0 29,921
American Campus Communities, Inc. Common 024835100 16,284 342,171 SH   SOLE   159,647 0 182,524
American Express Co. Common 025816109 935,927 11,830,707 SH   SOLE   11,677,927 0 152,780
American International Group. Inc. Common 026874784 22,273 356,760 SH   SOLE   356,760 0 0
Angie's List, Inc. Common 034754101 18,842 3,305,641 SH   SOLE   3,013,914 0 291,727
Apache Corporation Common 037411105 1,124,086 21,873,634 SH   SOLE   21,450,972 0 422,662
Apartment Investment & Management Common 03748R101 9,666 217,937 SH   SOLE   88,637 0 129,300
Applied Materials, Inc. Common 038222105 30,483 783,612 SH   SOLE   719,986 0 63,626
AvalonBay Communities, Inc. Common 053484101 21,054 114,675 SH   SOLE   53,335 0 61,340
Axalta Coating Systems Ltd. Common G0750C108 215,727 6,699,596 SH   SOLE   6,621,280 0 78,316
Baidu, Inc. Class A, ADR ADR 056752108 14,296 82,863 SH   SOLE   82,863 0 0
Bank of New York Mellon Corp. Common 064058100 991,892 21,001,307 SH   SOLE   20,727,588 0 273,719
Berkshire Hathaway Inc., Class A Common 084670108 1,065,610 4,265 SH   SOLE   4,262 0 3
Berkshire Hathaway Inc., Class B Common 084670702 278,708 1,672,116 SH   SOLE   1,561,437 0 110,679
Boston Properties, Inc. Common 101121101 9,844 74,347 SH   SOLE   32,457 0 41,890
Brookfield Asset Management Inc., Class A ADR 112585104 26,077 715,225 SH   SOLE   715,225 0 0
Brookfield Business Partners, L.P. Partnership G16234109 328 13,307 SH   SOLE   13,307 0 0
Cabot Oil & Gas Corp. Common 127097103 364,497 15,244,534 SH   SOLE   14,819,053 0 425,481
Camden Property Trust Common 133131102 5,806 72,155 SH   SOLE   26,895 0 45,260
Capital One Financial Corp. Common 14040H105 328,255 3,787,852 SH   SOLE   3,750,702 0 37,150
CarMax, Inc. Common 143130102 274,648 4,637,751 SH   SOLE   4,559,494 0 78,257
CatchMark Timber Trust Inc., Class A Common 14912Y202 26,972 2,341,357 SH   SOLE   815,607 0 1,525,750
Cedar Realty Trust, Inc. Common 150602209 2,792 556,254 SH   SOLE   242,944 0 313,310
Charles Schwab Corp. Common 808513105 33,188 813,225 SH   SOLE   813,225 0 0
Chubb Ltd. Common H1467J104 212,855 1,562,241 SH   SOLE   1,544,902 0 17,339
CommerceHub, Inc., Series A Common 20084V108 1,581 102,121 SH   SOLE   102,059 0 62
CommerceHub, Inc., Series C Common 20084V306 3,176 204,518 SH   SOLE   204,383 0 135
Costco Wholesale Corp. Common 22160K105 296,420 1,767,667 SH   SOLE   1,716,225 0 51,442
Cousins Properties, Inc. Common 222795106 10,318 1,247,690 SH   SOLE   564,110 0 683,580
Crown Castle International Corp. Common 22822V101 13,424 142,125 SH   SOLE   61,925 0 80,200
Ctrip.com International, Ltd. ADR ADR 22943F100 4,634 94,291 SH   SOLE   94,291 0 0
CubeSmart Common 229663109 9,554 368,040 SH   SOLE   160,410 0 207,630
CyrusOne, Inc. Common 23283R100 16,998 330,255 SH   SOLE   139,377 0 190,878
Davis Select Financial ETF 23908L108 20,956 1,009,450 SH   SOLE   1,009,450 0 0
Davis Select U.S. Equity ETF 23908L207 20,480 1,005,900 SH   SOLE   1,005,900 0 0
Davis Select Worldwide ETF 23908L306 19,893 943,700 SH   SOLE   943,700 0 0
DCT Industrial Trust, Inc. Common 233153204 10,446 217,083 SH   SOLE   107,236 0 109,847
DDR Corporation Common 23317H102 2,339 186,636 SH   SOLE   109,676 0 76,960
Delphi Automotive PLC Common G27823106 310,732 3,860,504 SH   SOLE   3,752,855 0 107,649
Diplomat Pharmacy, Inc. Common 25456K101 26,033 1,632,146 SH   SOLE   1,537,013 0 95,133
DuPont Fabros Technology, Inc. Common 26613Q106 8,371 168,810 SH   SOLE   61,750 0 107,060
EastGroup Properties, Inc. Common 277276101 7,163 97,418 SH   SOLE   42,618 0 54,800
Eaton Corporation Plc Common G29183103 37,979 512,192 SH   SOLE   453,446 0 58,746
Ecolab, Inc. Common 278865100 209,803 1,673,872 SH   SOLE   1,651,368 0 22,504
Encana Corporation ADR 292505104 811,831 69,328,046 SH   SOLE   67,988,768 0 1,339,278
EQT Midstream Partners L.P. Partnership 26885B100 10,178 132,352 SH   SOLE   132,352 0 0
Equity Residential Common 29476L107 13,773 221,367 SH   SOLE   82,012 0 139,355
Essex Property Trust, Inc. Common 297178105 19,275 83,251 SH   SOLE   33,080 0 50,171
Everest Re Group, Ltd. Common G3223R108 53,393 228,360 SH   SOLE   228,360 0 0
Express Scripts Holding Co. Common 30219G108 280,596 4,257,264 SH   SOLE   4,176,434 0 80,830
Extra Space Storage, Inc. Common 30225T102 8,231 110,653 SH   SOLE   46,673 0 63,980
Facebook, Inc. Common 30303M102 521,200 3,669,129 SH   SOLE   3,607,049 0 62,080
Fang Holdings Ltd ADR 30711Y102 66,621 20,435,842 SH   SOLE   20,079,889 0 355,953
Federal Realty Investment Trust Common 313747206 11,349 85,014 SH   SOLE   35,894 0 49,120
FedEx Corp. Common 31428X106 89,959 460,972 SH   SOLE   460,642 0 330
First Industrial Realty Trust, Inc. Common 32054K103 12,931 485,581 SH   SOLE   173,911 0 311,670
Forest City Realty Trust, Inc., Class A Common 345605109 6,193 284,353 SH   SOLE   122,943 0 161,410
GGP Inc. Common 36174X101 8,540 368,437 SH   SOLE   162,867 0 205,570
Goldman Sachs Group, Inc. Common 38141G104 57,726 251,290 SH   SOLE   251,290 0 0
Grupo Televisa S.A.B., ADR ADR 40049J206 29,314 1,130,055 SH   SOLE   1,130,055 0 0
Hewlett Packard Enterprise Company Common 42824C109 494 20,830 SH   SOLE   20,830 0 0
Hollysys Automation Technologies Ltd. ADR G45667105 21,372 1,262,388 SH   SOLE   1,262,388 0 0
Host Hotels & Resorts, Inc. Common 44107P104 10,001 535,935 SH   SOLE   226,445 0 309,490
HP, Inc. Common 40434L105 372 20,830 SH   SOLE   20,830 0 0
Hudson Pacific Properties Inc. Common 444097109 8,578 247,630 SH   SOLE   108,960 0 138,670
ICICI Bank Limited ADR ADR 45104G104 5,399 627,795 SH   SOLE   627,795 0 0
Intel Corp. Common 458140100 945 26,206 SH   SOLE   26,206 0 0
InterXion Holding NV Common N47279109 7,837 198,105 SH   SOLE   198,105 0 0
JD.com, Inc ADR ADR 47215P106 72,305 2,324,161 SH   SOLE   2,249,790 0 74,371
Johnson Controls International PLC Common G51502105 606,225 14,392,807 SH   SOLE   14,127,009 0 265,798
JPMorgan Chase & Co. Common 46625H100 1,341,671 15,274,029 SH   SOLE   15,051,327 0 222,702
Jumei International ADR ADR 48138L107 376 101,850 SH   SOLE   101,850 0 0
Kite Realty Group Trust Common 49803T300 3,012 140,079 SH   SOLE   61,167 0 78,912
KKR & Co. L.P. Partnership 48248M102 41,794 2,292,605 SH   SOLE   2,292,605 0 0
Lam Research Corp. Common 512807108 559 4,355 SH   SOLE   4,355 0 0
LendingClub Corp. Common 52603A109 1,427 259,898 SH   SOLE   259,898 0 0
Liberty Expedia Holdings, Inc. Common 53046P109 18,597 408,900 SH   SOLE   408,630 0 270
Liberty Global PLC, LiLAC Class C Common G5480U153 36,337 1,577,106 SH   SOLE   1,576,149 0 957
Liberty Global PLC, Series C Common G5480U120 394,504 11,258,671 SH   SOLE   11,039,487 0 219,184
Liberty Interactive Corp., QVC Group, Series A Common 53071M104 47,012 2,348,248 SH   SOLE   2,309,104 0 39,144
Liberty Interactive, Liberty Ventures, Series A Common 53071M856 27,282 613,355 SH   SOLE   612,960 0 395
Liberty TripAdvisor Holdings, Inc., Series A Common 531465102 8,211 582,364 SH   SOLE   581,984 0 380
Life Storage, Inc. Common 53223X107 10,817 131,717 SH   SOLE   57,367 0 74,350
Loews Corp. Common 540424108 256,036 5,474,363 SH   SOLE   5,403,504 0 70,859
Markel Corp. Common 570535104 274,397 281,185 SH   SOLE   277,076 0 4,109
Marsh & McLennan Co. Common 571748102 37,448 506,814 SH   SOLE   506,814 0 0
Micron Technology, Inc. Common 595112103 463 16,028 SH   SOLE   16,028 0 0
Microsoft Corp. Common 594918104 259,998 3,947,741 SH   SOLE   3,873,088 0 74,653
Mid-America Apartment Communities, Inc Common 59522J103 20,743 203,882 SH   SOLE   79,523 0 124,359
Mobileye N.V. ADR N51488117 35,217 573,570 SH   SOLE   509,614 0 63,956
Monsanto Co. Common 61166W101 581,778 5,139,380 SH   SOLE   5,056,665 0 82,715
Moody's Corp. Common 615369105 22,573 201,470 SH   SOLE   201,470 0 0
New Oriental Education & Technology ADR ADR 647581107 50,257 832,339 SH   SOLE   832,339 0 0
New York REIT, Inc. Common 64976L109 6,155 635,195 SH   SOLE   278,195 0 357,000
Noah Holdings Ltd. ADS ADR 65487X102 32,116 1,265,416 SH   SOLE   1,265,416 0 0
Novartis AG ADR ADR 66987V109 22,185 298,710 SH   SOLE   298,710 0 0
Occidental Petroleum Corp. Common 674599105 438,802 6,925,539 SH   SOLE   6,838,111 0 87,428
Oracle Corporation Common 68389X105 183,511 4,113,671 SH   SOLE   4,065,299 0 48,372
PACCAR, Inc. Common 693718108 210 3,132 SH   SOLE   0 0 3,132
PNC Financial Services Group, Inc. Common 693475105 36,325 302,100 SH   SOLE   302,100 0 0
PPG Industries, Inc. Common 693506107 575 5,470 SH   SOLE   5,470 0 0
Praxair, Inc. Common 74005P104 338,655 2,855,442 SH   SOLE   2,817,497 0 37,945
Prologis, Inc. Common 74340W103 19,262 371,284 SH   SOLE   162,864 0 208,420
Public Storage Common 74460D109 22,836 104,317 SH   SOLE   45,967 0 58,350
Quest Diagnostics Inc. Common 74834L100 12,708 129,419 SH   SOLE   113,957 0 15,462
Quotient Technology, Inc. Common 749119103 17,215 1,802,635 SH   SOLE   1,663,986 0 138,649
Ramco-Gershenson Properties Trust Common 751452202 2,459 175,360 SH   SOLE   76,290 0 99,070
Regency Centers Corporation Common 758849103 5,699 85,836 SH   SOLE   36,836 0 49,000
Retail Opportunity Investments Corp. Common 76131N101 13,638 648,521 SH   SOLE   279,341 0 369,180
Rexford Industrial Realty, Inc. Common 76169C100 4,721 209,658 SH   SOLE   90,948 0 118,710
S&P Global, Inc. Common 78409V104 23,073 176,478 SH   SOLE   176,478 0 0
SAP AG ADR ADR 803054204 13,446 136,970 SH   SOLE   123,542 0 13,428
Simon Property Group, Inc. Common 828806109 37,593 218,527 SH   SOLE   84,867 0 133,660
SL Green Realty Corp. Common 78440X101 9,510 89,193 SH   SOLE   38,803 0 50,390
State Street Corp. Common 857477103 38,644 485,411 SH   SOLE   485,411 0 0
TAL Education Group, Class A, ADR ADR 874080104 40,837 383,192 SH   SOLE   383,192 0 0
Terreno Realty Corp. Common 88146M101 23,053 823,323 SH   SOLE   353,390 0 469,933
Texas Instruments, Inc. Common 882508104 471,714 5,855,439 SH   SOLE   5,744,786 0 110,653
The Priceline Group, Inc. Common 741503403 216,136 121,427 SH   SOLE   119,424 0 2,003
United Technologies Corp. Common 913017109 912,297 8,130,264 SH   SOLE   7,982,509 0 147,755
UnitedHealth Group, Inc. Common 91324P102 477,929 2,914,023 SH   SOLE   2,852,219 0 61,804
US Bancorp Common 902973304 121,320 2,355,729 SH   SOLE   2,350,548 0 5,181
Valeant Pharmaceuticals International ADR 91911K102 43,213 3,917,812 SH   SOLE   3,765,555 0 152,257
Ventas, Inc. Common 92276F100 5,881 90,415 SH   SOLE   62,655 0 27,760
Vipshop Holdings Ltd. ADS ADR 92763W103 47,173 3,536,206 SH   SOLE   3,471,510 0 64,696
Visa, Inc., Class A Common 92826C839 368,242 4,143,608 SH   SOLE   4,094,017 0 49,591
Vornado Realty Trust Common 929042109 16,668 166,166 SH   SOLE   72,680 0 93,486
Wells Fargo & Co. Common 949746101 1,419,009 25,494,226 SH   SOLE   25,063,683 0 430,543
Welltower, Inc. Common 95040Q104 17,850 252,046 SH   SOLE   108,006 0 144,040
Weyerhaeuser Co. Common 962166104 13,533 398,252 SH   SOLE   175,752 0 222,500
Xilinx, Inc. Common 983919101 458 7,920 SH   SOLE   7,920 0 0
ZTO Express Cayman, Inc. ADR ADR 98980A105 54,820 4,187,932 SH   SOLE   4,077,373 0 110,559