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 1,255 23,150 SH   SOLE   23,150 0 0
Acadia Realty Trust Common 004239109 13,854 583,100 SH   SOLE   279,220 0 303,880
Adient PLC Common G0084W101 168,826 11,185,755 SH   SOLE   10,836,933 0 348,822
Air Products & Chemicals, Inc. Common 009158106 244 1,523 SH   SOLE   0 0 1,523
Alexandria Real Estate Equities, Inc. Common 015271109 13,483 116,997 SH   SOLE   60,373 0 56,624
Alibaba Group Holding Ltd. ADR ADR 01609W102 569,692 4,153,816 SH   SOLE   4,086,924 0 66,892
Alleghany Corporation Common 017175100 53,661 86,089 SH   SOLE   86,089 0 0
Alphabet Inc., Class A Common 02079K305 522,058 499,533 SH   SOLE   488,946 0 10,587
Alphabet Inc., Class C Common 02079K107 1,056,970 1,020,558 SH   SOLE   1,000,210 0 20,348
Altus Midstream Co., Class A Common 02215L100 15,460 2,000,000 SH   SOLE   2,000,000 0 0
Amazon.com, Inc. Common 023135106 1,063,812 709,100 SH   SOLE   690,032 0 19,068
American Campus Communities, Inc. Common 024835100 14,110 340,914 SH   SOLE   178,170 0 162,744
American Express Co. Common 025816109 620,781 6,516,995 SH   SOLE   6,408,902 0 108,093
American Homes 4 Rent, Class A Common 02665T306 3,120 157,170 SH   SOLE   73,120 0 84,050
Apache Corporation Common 037411105 600,777 22,882,206 SH   SOLE   22,362,753 0 519,453
Applied Materials, Inc. Common 038222105 432,348 13,214,457 SH   SOLE   12,902,737 0 311,720
Aptiv PLC Common G6095L109 22,648 368,045 SH   SOLE   333,512 0 34,533
AvalonBay Communities, Inc. Common 053484101 28,814 165,550 SH   SOLE   82,590 0 82,960
Axalta Coating Systems Ltd. Common G0750C108 551 23,540 SH   SOLE   23,540 0 0
Azul S.A., ADR ADR 05501U106 10,333 373,176 SH   SOLE   373,176 0 0
Baidu, Inc. Class A, ADR ADR 056752108 13,967 88,065 SH   SOLE   88,065 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208 101,083 3,224,347 SH   SOLE   3,179,307 0 45,040
Bank of New York Mellon Corp. Common 064058100 821,480 17,462,483 SH   SOLE   17,201,533 0 260,950
Berkshire Hathaway Inc., Class A Common 084670108 1,076,814 3,519 SH   SOLE   3,516 0 3
Berkshire Hathaway Inc., Class B Common 084670702 356,694 1,751,245 SH   SOLE   1,644,808 0 106,437
Booking Holdings, Inc. Common 09857L108 98,161 56,990 SH   SOLE   56,940 0 50
Boston Properties, Inc. Common 101121101 17,593 156,310 SH   SOLE   75,070 0 81,240
Brandywine Realty Trust Common 105368203 7,437 577,831 SH   SOLE   267,740 0 310,091
Brixmor Property Group, Inc. Common 11120U105 8,926 607,630 SH   SOLE   292,780 0 314,850
Cabot Oil & Gas Corp. Common 127097103 13,085 579,300 SH   SOLE   460,257 0 119,043
Camden Property Trust Common 133131102 16,701 189,680 SH   SOLE   82,900 0 106,780
Capital One Financial Corp. Common 14040H105 1,002,313 13,267,950 SH   SOLE   13,029,883 0 238,067
CarMax, Inc. Common 143130102 317 5,046 SH   SOLE   1,286 0 3,760
CatchMark Timber Trust Inc., Class A Common 14912Y202 1,076 151,604 SH   SOLE   151,604 0 0
Charles Schwab Corp. Common 808513105 20,904 503,340 SH   SOLE   503,340 0 0
Chubb Ltd. Common H1467J104 282,296 2,186,403 SH   SOLE   2,159,595 0 26,808
Cigna Corp. Common 125523100 18,709 98,444 SH   SOLE   90,060 0 8,384
CoreSite Realty Corp. Common 21870Q105 7,633 87,510 SH   SOLE   40,450 0 47,060
Costco Wholesale Corp. Common 22160K105 1,564 7,680 SH   SOLE   250 0 7,430
Cousins Properties, Inc. Common 222795106 12,731 1,611,500 SH   SOLE   798,860 0 812,640
Crown Castle International Corp. Common 22822V101 14,594 134,350 SH   SOLE   63,890 0 70,460
Ctrip.com International, Ltd. ADR ADR 22943F100 13,077 483,248 SH   SOLE   483,248 0 0
CubeSmart Common 229663109 4,150 144,650 SH   SOLE   58,760 0 85,890
CVS Health Corp. Common 126650100 74,028 1,130,059 SH   SOLE   1,084,103 0 45,956
Davis Select Financial ETF 23908L108 38,721 1,840,055 SH   SOLE   1,840,055 0 0
Davis Select International ETF 23908L405 44,314 2,938,800 SH   SOLE   2,938,800 0 0
Davis Select U.S. Equity ETF 23908L207 60,507 3,022,320 SH   SOLE   3,022,320 0 0
Davis Select Worldwide ETF 23908L306 32,949 1,685,395 SH   SOLE   1,685,395 0 0
Digital Realty Trust, Inc. Common 253868103 15,710 147,440 SH   SOLE   71,100 0 76,340
DowDuPont, Inc. Common 26078J100 642 12,000 SH   SOLE   12,000 0 0
DXC Technology Co. Common 23355L106 602 11,319 SH   SOLE   11,319 0 0
EastGroup Properties, Inc. Common 277276101 2,662 29,020 SH   SOLE   12,400 0 16,620
Eaton Corporation PLC Common G29183103 33,615 490,110 SH   SOLE   445,869 0 44,241
Electronic Arts, Inc. Common 285512109 549 6,960 SH   SOLE   6,960 0 0
Encana Corporation Common 292505104 240,162 41,529,994 SH   SOLE   40,603,856 0 926,138
Equinix, Inc Common 29444U700 20,452 58,010 SH   SOLE   27,920 0 30,090
Equity LifeStyle Properties, Inc. Common 29472R108 5,910 60,850 SH   SOLE   30,070 0 30,780
Equity Residential Common 29476L107 15,680 237,540 SH   SOLE   102,555 0 134,985
Essex Property Trust, Inc. Common 297178105 16,763 68,361 SH   SOLE   31,160 0 37,201
Everest Re Group, Ltd. Common G3223R108 40,912 187,878 SH   SOLE   187,878 0 0
Extra Space Storage, Inc. Common 30225T102 8,666 95,780 SH   SOLE   45,390 0 50,390
Facebook, Inc. Common 30303M102 691,283 5,267,533 SH   SOLE   5,140,839 0 126,694
Fang Holdings Ltd., ADR ADR 30711Y102 16,126 11,309,804 SH   SOLE   10,943,917 0 365,887
Federal Realty Investment Trust Common 313747206 12,942 109,640 SH   SOLE   51,250 0 58,390
FedEx Corp. Common 31428X106 515 3,190 SH   SOLE   3,190 0 0
First Industrial Realty Trust, Inc. Common 32054K103 2,336 80,950 SH   SOLE   36,630 0 44,320
GCI Liberty Inc., Class A Common 36164V305 17,520 425,648 SH   SOLE   425,303 0 345
General Electric Co. Common 369604103 386,098 51,030,186 SH   SOLE   49,859,305 0 1,170,881
Goldman Sachs Group, Inc. Common 38141G104 46,071 275,790 SH   SOLE   275,790 0 0
Greenlight Capital Re, Ltd., Class A Common G4095J109 17,947 2,082,010 SH   SOLE   2,082,010 0 0
HCP, Inc. Common 40414L109 5,323 190,586 SH   SOLE   88,290 0 102,296
Hollysys Automation Technologies Ltd. ADR G45667105 116,655 6,662,570 SH   SOLE   6,662,570 0 0
Host Hotels & Resorts, Inc. Common 44107P104 9,654 579,120 SH   SOLE   263,300 0 315,820
HP, Inc. Common 40434L105 426 20,830 SH   SOLE   20,830 0 0
Hudson Pacific Properties, Inc. Common 444097109 15,248 524,700 SH   SOLE   253,410 0 271,290
Intel Corp. Common 458140100 37,831 806,478 SH   SOLE   703,881 0 102,597
Invitation Homes, Inc. Common 46187W107 2,871 142,970 SH   SOLE   65,510 0 77,460
iQIYI Inc., Class A, ADR ADR 46267X108 53,360 3,584,468 SH   SOLE   3,442,068 0 142,400
iShares Russell 3000 ETF ETF 464287689 7,953 54,132 SH   SOLE   49,335 0 4,797
iShares S&P 500 Value ETF ETF 464287408 52,031 514,441 SH   SOLE   486,140 0 28,301
JD.com, Inc., Class A, ADR ADR 47215P106 150,762 7,196,442 SH   SOLE   6,976,849 0 219,593
Johnson Controls International PLC Common G51502105 373,779 12,607,660 SH   SOLE   12,203,195 0 404,465
JPMorgan Chase & Co. Common 46625H100 783,824 8,033,318 SH   SOLE   7,916,949 0 116,369
Kimco Realty Corp. Common 49446R109 4,438 302,960 SH   SOLE   127,540 0 175,420
KKR & Co. Inc., Class A Common 48251W104 31,213 1,590,048 SH   SOLE   1,590,048 0 0
Lam Research Corp. Common 512807108 475 3,485 SH   SOLE   3,485 0 0
Liberty Expedia Holdings, Inc. Common 53046P109 11,104 283,924 SH   SOLE   283,694 0 230
Liberty Global PLC, Series C Common G5480U120 20,740 1,004,834 SH   SOLE   1,004,834 0 0
Liberty Latin America Ltd., Class C Common G9001E128 14,161 971,939 SH   SOLE   971,131 0 808
Liberty Property Trust Common 531172104 5,280 126,070 SH   SOLE   57,350 0 68,720
Liberty TripAdvisor Holdings, Inc., Series A Common 531465102 6,398 402,640 SH   SOLE   402,310 0 330
Life Storage, Inc. Common 53223X107 5,513 59,290 SH   SOLE   24,220 0 35,070
Loews Corp. Common 540424108 193,796 4,260,915 SH   SOLE   4,198,463 0 62,452
Macerich Co. Common 554382101 2,320 53,610 SH   SOLE   26,060 0 27,550
Magnolia Oil & Gas Corp., Class A Common 559663109 139,225 12,419,690 SH   SOLE   12,419,690 0 0
Markel Corp. Common 570535104 255,320 246,090 SH   SOLE   243,575 0 2,515
Microsoft Corp. Common 594918104 293,191 2,889,277 SH   SOLE   2,827,713 0 61,564
Mid-America Apartment Communities, Inc Common 59522J103 2,571 26,870 SH   SOLE   12,590 0 14,280
New Oriental Education & Technology ADR ADR 647581107 563,098 10,273,245 SH   SOLE   10,132,773 0 140,472
Noah Holdings Ltd. ADS ADR 65487X102 40,122 926,166 SH   SOLE   910,666 0 15,500
Novartis AG ADR ADR 66987V109 1,326 15,456 SH   SOLE   15,456 0 0
Oaktree Capital Group LLC Partnership 674001201 39,530 994,457 SH   SOLE   994,457 0 0
Oracle Corp. Common 68389X105 151,233 3,351,628 SH   SOLE   3,268,085 0 83,543
Owens Corning Common 690742101 14,804 337,051 SH   SOLE   304,135 0 32,916
PNC Financial Services Group, Inc. Common 693475105 38,831 332,145 SH   SOLE   332,145 0 0
PPG Industries, Inc. Common 693506107 559 5,470 SH   SOLE   5,470 0 0
Prologis, Inc. Common 74340W103 20,652 351,698 SH   SOLE   180,628 0 171,070
Public Storage, Inc. Common 74460D109 17,626 87,080 SH   SOLE   39,960 0 47,120
Qorvo, Inc. Common 74736K101 25,905 426,502 SH   SOLE   389,606 0 36,896
Quest Diagnostics, Inc. Common 74834L100 66,289 798,392 SH   SOLE   720,157 0 78,235
Quotient Technology, Inc. Common 749119103 48,741 4,561,386 SH   SOLE   4,174,660 0 386,726
Qurate Retail Inc., Series A Common 74915M100 33,287 1,706,443 SH   SOLE   1,672,724 0 33,719
Regency Centers Corporation Common 758849103 13,663 232,840 SH   SOLE   110,740 0 122,100
Retail Opportunity Investments Corp. Common 76131N101 5,604 352,915 SH   SOLE   165,525 0 187,390
Rexford Industrial Realty, Inc. Common 76169C100 14,180 481,170 SH   SOLE   235,130 0 246,040
Ryman Hospitality Properties, Inc. Common 78377T107 3,244 48,650 SH   SOLE   22,970 0 25,680
SAP SE, ADR ADR 803054204 14,104 141,765 SH   SOLE   129,798 0 11,967
Shire PLC, ADR ADR 82481R106 28,252 162,332 SH   SOLE   162,106 0 226
Simon Property Group, Inc. Common 828806109 35,849 213,400 SH   SOLE   106,940 0 106,460
SL Green Realty Corp. Common 78440X101 5,721 72,350 SH   SOLE   33,760 0 38,590
SPDR S& P 500 ETF Trust ETF 78462F103 462 1,849 SH   SOLE   1,849 0 0
State Street Corp. Common 857477103 48,393 767,294 SH   SOLE   767,294 0 0
Sun Communities, Inc. Common 866674104 5,831 57,330 SH   SOLE   28,470 0 28,860
Tarena International, Inc.,Class A, ADR ADR 876108101 32,603 5,174,780 SH   SOLE   5,174,780 0 0
Terreno Realty Corp. Common 88146M101 13,557 385,467 SH   SOLE   183,154 0 202,313
Texas Instruments, Inc. Common 882508104 404,721 4,285,380 SH   SOLE   4,177,937 0 107,443
The Blackstone Group L.P. Partnership 09253U108 17,530 588,060 SH   SOLE   588,060 0 0
United Technologies Corp. Common 913017109 874,733 8,221,190 SH   SOLE   8,005,003 0 216,187
UnitedHealth Group, Inc. Common 91324P102 13,999 56,308 SH   SOLE   51,270 0 5,038
US Bancorp Common 902973304 421,632 9,230,157 SH   SOLE   9,137,810 0 92,347
Ventas, Inc. Common 92276F100 7,245 123,650 SH   SOLE   80,250 0 43,400
Visa, Inc., Class A Common 92826C839 18,895 143,206 SH   SOLE   143,206 0 0
Vornado Realty Trust Common 929042109 8,620 138,960 SH   SOLE   62,414 0 76,546
Wells Fargo & Co. Common 949746101 1,242,371 26,971,021 SH   SOLE   26,404,683 0 566,338
Xilinx, Inc. Common 983919101 675 7,920 SH   SOLE   7,920 0 0
Yirendai Ltd., ADR ADR 98585L100 28,340 2,636,494 SH   SOLE   2,609,014 0 27,480
ZTO Express Cayman, Inc., Class A, ADR ADR 98980A105 11,616 733,772 SH   SOLE   733,772 0 0