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
Estimated average burden
hours per response: 23.8
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 1,338 30,336 SH   SOLE   30,336 0 0
Acadia Realty Trust Common 004239109 13,849 498,160 SH   SOLE   264,130 0 234,030
Adient PLC Common G0084W101 483,265 7,391,629 SH   SOLE   7,235,764 0 155,865
Aetna Inc. Common 00817Y108 604,300 3,980,111 SH   SOLE   3,897,057 0 83,054
Air Products & Chemicals, Inc. Common 009158106 266 1,860 SH   SOLE   0 0 1,860
Alexandria Real Estate Equities, Inc. Common 015271109 11,751 97,540 SH   SOLE   45,786 0 51,754
Alibaba Group Holding Ltd. ADR ADR 01609W102 60,129 426,747 SH   SOLE   426,747 0 0
Alleghany Corporation Common 017175100 46,379 77,974 SH   SOLE   77,974 0 0
Alphabet Inc., Class A Common 02079K305 696,479 749,160 SH   SOLE   734,840 0 14,320
Alphabet Inc., Class C Common 02079K107 1,082,111 1,190,795 SH   SOLE   1,174,162 0 16,633
Amazon.com, Inc. Common 023135106 1,501,136 1,550,760 SH   SOLE   1,524,474 0 26,286
American Campus Communities, Inc. Common 024835100 16,222 342,954 SH   SOLE   160,430 0 182,524
American Express Co. Common 025816109 951,673 11,297,163 SH   SOLE   11,143,449 0 153,714
American International Group. Inc. Common 026874784 22,150 354,294 SH   SOLE   354,294 0 0
Angie's List, Inc. Common 034754101 57,869 4,524,585 SH   SOLE   4,230,246 0 294,339
Apache Corporation Common 037411105 1,005,836 20,985,516 SH   SOLE   20,556,800 0 428,716
Apartment Investment & Management Common 03748R101 9,402 218,802 SH   SOLE   89,502 0 129,300
Applied Materials, Inc. Common 038222105 30,649 741,934 SH   SOLE   680,390 0 61,544
AvalonBay Communities, Inc. Common 053484101 22,004 114,501 SH   SOLE   53,161 0 61,340
Axalta Coating Systems Ltd. Common G0750C108 231,598 7,228,390 SH   SOLE   7,035,574 0 192,816
Baidu, Inc. Class A, ADR ADR 056752108 15,401 86,105 SH   SOLE   86,105 0 0
Bank of New York Mellon Corp. Common 064058100 1,017,067 19,934,671 SH   SOLE   19,659,235 0 275,436
Berkshire Hathaway Inc., Class A Common 084670108 1,066,429 4,187 SH   SOLE   4,184 0 3
Berkshire Hathaway Inc., Class B Common 084670702 284,189 1,677,917 SH   SOLE   1,567,861 0 110,056
Boston Properties, Inc. Common 101121101 9,145 74,334 SH   SOLE   32,444 0 41,890
Brookfield Asset Management Inc., Class A ADR 112585104 27,843 710,109 SH   SOLE   710,109 0 0
Brookfield Business Partners, L.P. Partnership G16234109 360 13,307 SH   SOLE   13,307 0 0
Cabot Oil & Gas Corp. Common 127097103 373,801 14,904,337 SH   SOLE   14,429,372 0 474,965
Camden Property Trust Common 133131102 6,171 72,169 SH   SOLE   26,909 0 45,260
Capital One Financial Corp. Common 14040H105 666,075 8,061,905 SH   SOLE   7,968,068 0 93,837
CarMax, Inc. Common 143130102 276,873 4,390,623 SH   SOLE   4,313,037 0 77,586
CatchMark Timber Trust Inc., Class A Common 14912Y202 25,180 2,214,587 SH   SOLE   760,307 0 1,454,280
Cedar Realty Trust, Inc. Common 150602209 2,697 556,006 SH   SOLE   242,696 0 313,310
Charles Schwab Corp. Common 808513105 35,198 819,312 SH   SOLE   819,312 0 0
Chubb Ltd. Common H1467J104 214,272 1,473,874 SH   SOLE   1,456,551 0 17,323
CommerceHub, Inc., Series A Common 20084V108 1,604 92,061 SH   SOLE   91,999 0 62
CommerceHub, Inc., Series C Common 20084V306 3,218 184,508 SH   SOLE   184,373 0 135
Concho Resources Inc. Common 20605P101 6,611 54,398 SH   SOLE   54,354 0 44
Costco Wholesale Corp. Common 22160K105 269,244 1,683,514 SH   SOLE   1,631,326 0 52,188
Cousins Properties, Inc. Common 222795106 10,967 1,247,675 SH   SOLE   564,095 0 683,580
Crown Castle International Corp. Common 22822V101 14,232 142,060 SH   SOLE   61,860 0 80,200
Ctrip.com International, Ltd. ADR ADR 22943F100 6,440 119,561 SH   SOLE   119,561 0 0
CubeSmart Common 229663109 8,878 369,315 SH   SOLE   161,685 0 207,630
CyrusOne, Inc. Common 23283R100 18,409 330,205 SH   SOLE   139,327 0 190,878
Davis Select Financial ETF 23908L108 32,541 1,505,850 SH   SOLE   1,505,850 0 0
Davis Select U.S. Equity ETF 23908L207 28,208 1,340,700 SH   SOLE   1,340,700 0 0
Davis Select Worldwide ETF 23908L306 27,348 1,228,000 SH   SOLE   1,228,000 0 0
DCT Industrial Trust, Inc. Common 233153204 11,658 218,145 SH   SOLE   108,298 0 109,847
DDR Corporation Common 23317H102 1,693 186,613 SH   SOLE   109,653 0 76,960
Delphi Automotive PLC Common G27823106 325,862 3,717,769 SH   SOLE   3,609,090 0 108,679
Diplomat Pharmacy, Inc. Common 25456K101 25,219 1,703,992 SH   SOLE   1,606,617 0 97,375
DXC Technology Co. Common 23355L106 473 6,159 SH   SOLE   6,159 0 0
EastGroup Properties, Inc. Common 277276101 8,163 97,416 SH   SOLE   42,616 0 54,800
Eaton Corporation Plc Common G29183103 41,501 533,228 SH   SOLE   475,826 0 57,402
Ecolab, Inc. Common 278865100 185,423 1,396,786 SH   SOLE   1,374,735 0 22,051
Encana Corporation ADR 292505104 594,634 67,572,006 SH   SOLE   66,236,363 0 1,335,643
EQT Midstream Partners L.P. Partnership 26885B100 9,762 130,812 SH   SOLE   130,812 0 0
Equity Residential Common 29476L107 14,606 221,877 SH   SOLE   82,522 0 139,355
Essex Property Trust, Inc. Common 297178105 21,388 83,136 SH   SOLE   32,965 0 50,171
Everest Re Group, Ltd. Common G3223R108 58,268 228,871 SH   SOLE   228,871 0 0
Express Scripts Holding Co. Common 30219G108 256,074 4,011,191 SH   SOLE   3,932,420 0 78,771
Extra Space Storage, Inc. Common 30225T102 8,631 110,658 SH   SOLE   46,678 0 63,980
Facebook, Inc. Common 30303M102 530,529 3,513,904 SH   SOLE   3,447,870 0 66,034
Fang Holdings Ltd ADR 30711Y102 101,059 27,239,493 SH   SOLE   26,778,357 0 461,136
Federal Realty Investment Trust Common 313747206 10,788 85,356 SH   SOLE   36,236 0 49,120
FedEx Corp. Common 31428X106 366,118 1,684,618 SH   SOLE   1,650,099 0 34,519
First Industrial Realty Trust, Inc. Common 32054K103 13,897 485,582 SH   SOLE   173,912 0 311,670
Forest City Realty Trust, Inc., Class A Common 345605109 6,902 285,566 SH   SOLE   124,156 0 161,410
GGP Inc. Common 36174X101 14,707 624,251 SH   SOLE   274,581 0 349,670
Goldman Sachs Group, Inc. Common 38141G104 55,725 251,126 SH   SOLE   251,126 0 0
Grupo Televisa S.A.B., ADR ADR 40049J206 28,489 1,169,011 SH   SOLE   1,169,011 0 0
Hewlett Packard Enterprise Company Common 42824C109 346 20,830 SH   SOLE   20,830 0 0
Hollysys Automation Technologies Ltd. ADR G45667105 56,340 3,391,934 SH   SOLE   3,391,934 0 0
Host Hotels & Resorts, Inc. Common 44107P104 9,836 538,387 SH   SOLE   228,897 0 309,490
HP, Inc. Common 40434L105 364 20,830 SH   SOLE   20,830 0 0
Hudson Pacific Properties Inc. Common 444097109 8,465 247,599 SH   SOLE   108,929 0 138,670
ICICI Bank Limited ADR ADR 45104G104 6,194 690,574 SH   SOLE   690,574 0 0
Intel Corp. Common 458140100 1,201 35,596 SH   SOLE   35,596 0 0
InterXion Holding NV Common N47279109 9,039 197,445 SH   SOLE   197,445 0 0
JD.com, Inc ADR ADR 47215P106 96,342 2,456,456 SH   SOLE   2,385,551 0 70,905
Johnson Controls International PLC Common G51502105 596,347 13,753,394 SH   SOLE   13,493,713 0 259,681
JPMorgan Chase & Co. Common 46625H100 1,234,563 13,507,258 SH   SOLE   13,287,909 0 219,349
Jumei International ADR ADR 48138L107 225 105,490 SH   SOLE   105,490 0 0
Kite Realty Group Trust Common 49803T300 2,651 140,017 SH   SOLE   61,105 0 78,912
KKR & Co. L.P. Partnership 48248M102 43,101 2,317,264 SH   SOLE   2,317,264 0 0
Lam Research Corp. Common 512807108 493 3,485 SH   SOLE   3,485 0 0
LendingClub Corp. Common 52603A109 1,035 187,898 SH   SOLE   187,898 0 0
Liberty Expedia Holdings, Inc. Common 53046P109 19,929 368,920 SH   SOLE   368,650 0 270
Liberty Global PLC, LiLAC Class C Common G5480U153 30,778 1,437,547 SH   SOLE   1,436,609 0 938
Liberty Global PLC, Series C Common G5480U120 330,357 10,595,142 SH   SOLE   10,374,243 0 220,899
Liberty Interactive Corp., QVC Group, Series A Common 53071M104 53,079 2,162,940 SH   SOLE   2,125,671 0 37,269
Liberty Interactive, Liberty Ventures, Series A Common 53071M856 28,929 553,245 SH   SOLE   552,850 0 395
Liberty TripAdvisor Holdings, Inc., Series A Common 531465102 6,076 523,824 SH   SOLE   523,444 0 380
Life Storage, Inc. Common 53223X107 9,761 131,721 SH   SOLE   57,371 0 74,350
Loews Corp. Common 540424108 244,867 5,231,077 SH   SOLE   5,160,472 0 70,605
Markel Corp. Common 570535104 269,370 276,033 SH   SOLE   272,048 0 3,985
Marsh & McLennan Co. Common 571748102 40,069 513,972 SH   SOLE   513,972 0 0
Micron Technology, Inc. Common 595112103 383 12,828 SH   SOLE   12,828 0 0
Microsoft Corp. Common 594918104 254,730 3,695,488 SH   SOLE   3,621,674 0 73,814
Mid-America Apartment Communities, Inc Common 59522J103 21,525 204,265 SH   SOLE   79,906 0 124,359
Monsanto Co. Common 61166W101 50,445 426,200 SH   SOLE   426,200 0 0
Moody's Corp. Common 615369105 24,495 201,306 SH   SOLE   201,306 0 0
New Oriental Education & Technology ADR ADR 647581107 66,490 943,253 SH   SOLE   943,253 0 0
Noah Holdings Ltd. ADS ADR 65487X102 41,093 1,434,298 SH   SOLE   1,434,298 0 0
Novartis AG ADR ADR 66987V109 29,450 352,820 SH   SOLE   352,820 0 0
Occidental Petroleum Corp. Common 674599105 388,637 6,491,356 SH   SOLE   6,402,590 0 88,766
Oracle Corporation Common 68389X105 202,282 4,034,353 SH   SOLE   3,955,780 0 78,573
PACCAR, Inc. Common 693718108 208 3,144 SH   SOLE   0 0 3,144
PNC Financial Services Group, Inc. Common 693475105 38,380 307,362 SH   SOLE   307,362 0 0
PPG Industries, Inc. Common 693506107 601 5,470 SH   SOLE   5,470 0 0
Praxair, Inc. Common 74005P104 349,613 2,637,592 SH   SOLE   2,599,895 0 37,697
Prologis, Inc. Common 74340W103 15,478 263,950 SH   SOLE   116,310 0 147,640
Public Storage Common 74460D109 21,723 104,173 SH   SOLE   45,823 0 58,350
Quest Diagnostics Inc. Common 74834L100 14,739 132,589 SH   SOLE   117,951 0 14,638
Quotient Technology, Inc. Common 749119103 20,810 1,809,532 SH   SOLE   1,678,125 0 131,407
Ramco-Gershenson Properties Trust Common 751452202 2,671 207,051 SH   SOLE   90,051 0 117,000
Regency Centers Corporation Common 758849103 11,342 181,067 SH   SOLE   78,367 0 102,700
Retail Opportunity Investments Corp. Common 76131N101 12,444 648,444 SH   SOLE   279,264 0 369,180
Rexford Industrial Realty, Inc. Common 76169C100 5,754 209,680 SH   SOLE   90,970 0 118,710
S&P Global, Inc. Common 78409V104 26,466 181,288 SH   SOLE   181,288 0 0
SAP AG ADR ADR 803054204 14,798 141,379 SH   SOLE   128,164 0 13,215
Simon Property Group, Inc. Common 828806109 35,336 218,446 SH   SOLE   84,786 0 133,660
SL Green Realty Corp. Common 78440X101 9,437 89,194 SH   SOLE   38,804 0 50,390
State Street Corp. Common 857477103 44,283 493,517 SH   SOLE   493,517 0 0
TAL Education Group, Class A, ADR ADR 874080104 52,176 426,586 SH   SOLE   426,586 0 0
Tarena International, Inc.,Class A, ADR ADR 876108101 14,212 793,502 SH   SOLE   793,502 0 0
Terreno Realty Corp. Common 88146M101 21,769 646,739 SH   SOLE   276,206 0 370,533
Texas Instruments, Inc. Common 882508104 424,255 5,514,815 SH   SOLE   5,406,228 0 108,587
The Dow Chemical Company Common 260543103 871 13,810 SH   SOLE   13,810 0 0
The Priceline Group, Inc. Common 741503403 170,103 90,939 SH   SOLE   88,985 0 1,954
United Technologies Corp. Common 913017109 948,267 7,765,681 SH   SOLE   7,619,010 0 146,671
UnitedHealth Group, Inc. Common 91324P102 469,805 2,533,733 SH   SOLE   2,473,228 0 60,505
US Bancorp Common 902973304 70,144 1,351,009 SH   SOLE   1,345,799 0 5,210
Ventas, Inc. Common 92276F100 6,283 90,422 SH   SOLE   62,662 0 27,760
Vipshop Holdings Ltd. ADS ADR 92763W103 39,239 3,719,303 SH   SOLE   3,656,540 0 62,763
Visa, Inc., Class A Common 92826C839 292,163 3,115,409 SH   SOLE   3,067,372 0 48,037
Vornado Realty Trust Common 929042109 15,602 166,158 SH   SOLE   72,672 0 93,486
Wells Fargo & Co. Common 949746101 1,438,821 25,966,811 SH   SOLE   25,515,049 0 451,762
Welltower, Inc. Common 95040Q104 18,929 252,893 SH   SOLE   108,853 0 144,040
Weyerhaeuser Co. Common 962166104 13,340 398,204 SH   SOLE   175,704 0 222,500
Xilinx, Inc. Common 983919101 509 7,920 SH   SOLE   7,920 0 0
ZTO Express Cayman, Inc. ADR ADR 98980A105 65,681 4,704,977 SH   SOLE   4,591,211 0 113,766