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
Acadia Realty Trust Common 004239109 5,349 509,407 SH   SOLE   225,597 0 283,810
Adient plc Common G0084W101 23,171 1,337,027 SH   SOLE   1,337,027 0 0
Alexandria Real Estate Equities, Inc. Common 015271109 14,918 93,237 SH   SOLE   52,983 0 40,254
Alibaba Group Holding Ltd., ADR ADR 01609W102 979,472 3,331,765 SH   SOLE   3,300,021 0 31,744
Alleghany Corp. Common 017175100 23,531 45,213 SH   SOLE   45,213 0 0
Alphabet Inc., Class A Common 02079K305 435,609 297,222 SH   SOLE   292,502 0 4,720
Alphabet Inc., Class C Common 02079K107 1,100,487 748,835 SH   SOLE   739,256 0 9,579
Amazon.com, Inc. Common 023135106 1,118,810 355,321 SH   SOLE   349,472 0 5,849
American Campus Communities, Inc. Common 024835100 9,720 278,345 SH   SOLE   147,300 0 131,045
American Express Co. Common 025816109 530,824 5,295,006 SH   SOLE   5,204,682 0 90,324
American Homes 4 Rent, Class A Common 02665T306 7,521 264,090 SH   SOLE   137,030 0 127,060
Applied Materials, Inc. Common 038222105 933,285 15,698,648 SH   SOLE   15,415,815 0 282,833
Aptiv PLC Common G6095L109 17,069 186,179 SH   SOLE   169,545 0 16,634
AvalonBay Communities, Inc. Common 053484101 12,198 81,680 SH   SOLE   45,310 0 36,370
Baidu, Inc., Class A, ADR ADR 056752108 11,741 92,749 SH   SOLE   92,749 0 0
Bank of America Corp. Common 060505104 90,951 3,775,479 SH   SOLE   3,775,479 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208 83,146 3,731,861 SH   SOLE   3,731,861 0 0
Bank of New York Mellon Corp. Common 064058100 549,142 15,991,323 SH   SOLE   15,724,748 0 266,575
Berkshire Hathaway Inc., Class A Common 084670108 847,363 2,648 SH   SOLE   2,648 0 0
Berkshire Hathaway Inc., Class B Common 084670702 333,376 1,565,588 SH   SOLE   1,475,465 0 90,123
Booking Holdings, Inc. Common 09857L108 221 129 SH   SOLE   129 0 0
Boston Properties, Inc. Common 101121101 9,392 116,960 SH   SOLE   63,590 0 53,370
Brixmor Property Group, Inc. Common 11120U105 12,028 1,028,940 SH   SOLE   505,540 0 523,400
Camden Property Trust Common 133131102 11,766 132,230 SH   SOLE   73,120 0 59,110
Capital One Financial Corp. Common 14040H105 1,181,189 16,437,359 SH   SOLE   16,175,806 0 261,553
CarMax, Inc. Common 143130102 346 3,760 SH   SOLE   0 0 3,760
Carrier Global Corp. Common 14448C104 686,903 22,491,927 SH   SOLE   21,964,644 0 527,283
Charles Schwab Corp. Common 808513105 34,684 957,337 SH   SOLE   957,337 0 0
China Index Holdings Ltd., ADR ADR 16954W101 6,875 4,741,445 SH   SOLE   4,729,989 0 11,456
Chubb Ltd. Common H1467J104 194,637 1,676,168 SH   SOLE   1,650,708 0 25,460
Cigna Corp. Common 125523100 54,591 322,243 SH   SOLE   291,248 0 30,995
Coresite Realty Corp. Common 21870Q105 8,225 69,190 SH   SOLE   34,430 0 34,760
Cousins Properties, Inc. Common 222795502 9,485 331,775 SH   SOLE   176,550 0 155,225
Crown Castle International Corp. Common 22822V101 14,184 85,190 SH   SOLE   43,970 0 41,220
CVS Health Corp. Common 126650100 46,615 798,195 SH   SOLE   778,005 0 20,190
CyrusOne Inc. Common 23283R100 11,768 168,040 SH   SOLE   97,480 0 70,560
Davis Select Financial ETF ETF 23908L108 37,333 1,959,793 SH   SOLE   1,959,793 0 0
Davis Select International ETF ETF 23908L405 81,567 3,234,982 SH   SOLE   3,234,982 0 0
Davis Select U.S. Equity ETF ETF 23908L207 48,300 1,873,537 SH   SOLE   1,873,537 0 0
Davis Select Worldwide ETF ETF 23908L306 75,604 3,774,558 SH   SOLE   3,774,558 0 0
Digital Realty Trust, Inc. Common 253868103 11,213 76,405 SH   SOLE   40,735 0 35,670
Douglas Emmett, Inc. Common 25960P109 7,362 293,300 SH   SOLE   155,330 0 137,970
DXC Technology Co. Common 23355L106 1,241 69,539 SH   SOLE   69,539 0 0
EastGroup Properties, Inc. Common 277276101 2,845 22,000 SH   SOLE   13,500 0 8,500
Eaton Corp. PLC Common G29183103 42,766 419,150 SH   SOLE   379,193 0 39,957
Equinix, Inc. Common 29444U700 24,362 32,050 SH   SOLE   16,720 0 15,330
Equity Residential Common 29476L107 10,058 195,940 SH   SOLE   106,105 0 89,835
Essex Property Trust, Inc. Common 297178105 13,973 69,591 SH   SOLE   38,180 0 31,411
Everest Re Group, Ltd. Common G3223R108 12,514 63,348 SH   SOLE   63,348 0 0
Extra Space Storage Inc. Common 30225T102 9,117 85,210 SH   SOLE   45,410 0 39,800
Facebook, Inc, Class A Common 30303M102 970,644 3,706,163 SH   SOLE   3,646,639 0 59,524
Fang Holdings Ltd., Class A, ADR ADR 30711Y300 1,642 142,651 SH   SOLE   142,651 0 0
Federal Realty Investment Trust Common 313747206 7,276 99,080 SH   SOLE   49,730 0 49,350
Goldman Sachs Group, Inc. Common 38141G104 16,131 80,266 SH   SOLE   80,266 0 0
Greenlight Capital Re, Ltd., Class A Common G4095J109 7,686 1,142,024 SH   SOLE   1,142,024 0 0
HD Supply Holdings, Inc. Common 40416M105 6,438 156,108 SH   SOLE   142,939 0 13,169
Healthpeak Properties, Inc. Common 42250P103 10,768 396,606 SH   SOLE   204,940 0 191,666
Highwoods Properties, Inc. Common 431284108 5,990 178,430 SH   SOLE   92,090 0 86,340
Hollysys Automation Technologies, Ltd. Common G45667105 77,985 7,057,424 SH   SOLE   7,057,424 0 0
Host Hotels & Resorts, Inc. Common 44107P104 11,731 1,087,170 SH   SOLE   536,290 0 550,880
HP, Inc. Common 40434L105 396 20,830 SH   SOLE   20,830 0 0
Hudson Pacific Properties, Inc. Common 444097109 12,000 547,180 SH   SOLE   279,490 0 267,690
Humana Inc. Common 444859102 25,996 62,809 SH   SOLE   57,469 0 5,340
IAC/InterActiveCorp. Common 44891N109 263,571 2,200,462 SH   SOLE   2,157,152 0 43,310
Intel Corp. Common 458140100 665,692 12,856,161 SH   SOLE   12,626,914 0 229,247
iQIYI, Inc., Class A, ADR ADR 46267X108 25,077 1,110,594 SH   SOLE   1,110,594 0 0
iShares S&P 500 Value ETF ETF 464287408 917 8,156 SH   SOLE   7,969 0 187
JD.com, Inc., Class A, ADR ADR 47215P106 248,823 3,206,065 SH   SOLE   3,206,065 0 0
Johnson Controls International PLC Common G51502105 56,262 1,377,293 SH   SOLE   1,265,764 0 111,529
JPMorgan Chase & Co. Common 46625H100 687,989 7,146,457 SH   SOLE   7,026,288 0 120,169
Lam Research Corp. Common 512807108 814 2,455 SH   SOLE   2,455 0 0
Liberty Global plc, Series C Common G5480U120 18,005 876,814 SH   SOLE   876,814 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102 557 322,154 SH   SOLE   322,154 0 0
Life Storage, Inc. Common 53223X107 8,046 76,430 SH   SOLE   38,800 0 37,630
Loews Corp. Common 540424108 78,745 2,266,057 SH   SOLE   2,228,360 0 37,697
M&T Bank Corp. Common 55261F104 3,673 39,883 SH   SOLE   39,883 0 0
Markel Corp. Common 570535104 196,025 201,320 SH   SOLE   199,464 0 1,856
Microsoft Corp. Common 594918104 101,374 481,975 SH   SOLE   460,417 0 21,558
New Oriental Education & Tech ADR ADR 647581107 964,697 6,452,820 SH   SOLE   6,400,264 0 52,556
Noah Holdings Ltd., Class A, ADS ADR 65487X102 24,979 958,150 SH   SOLE   958,150 0 0
Novartis AG - ADR ADR 66987V109 3,378 38,848 SH   SOLE   38,848 0 0
Oracle Corp. Common 68389X105 18,566 310,993 SH   SOLE   285,359 0 25,634
Otis Worldwide Corp. Common 68902V107 895 14,336 SH   SOLE   13,240 0 1,096
Owens Corning Common 690742101 52,090 757,011 SH   SOLE   689,875 0 67,136
PNC Financial Services Group, Inc. Common 693475105 64,629 588,021 SH   SOLE   588,021 0 0
Prologis, Inc. Common 74340W103 31,637 314,422 SH   SOLE   166,102 0 148,320
Public Storage, Inc. Common 74460D109 21,314 95,700 SH   SOLE   50,990 0 44,710
Qorvo, Inc. Common 74736K101 54,545 422,793 SH   SOLE   381,108 0 41,685
Quest Diagnostics, Inc. Common 74834L100 428,915 3,746,313 SH   SOLE   3,630,998 0 115,315
Quotient Technology, Inc. Common 749119103 27,679 3,750,481 SH   SOLE   3,569,505 0 180,976
Raytheon Technologies Corp. Common 75513E101 640,008 11,122,837 SH   SOLE   10,900,878 0 221,959
Retail Opportunity Investments Corp. Common 76131N101 5,668 544,195 SH   SOLE   231,475 0 312,720
Rexford Industrial Realty, Inc. Common 76169C100 19,976 436,530 SH   SOLE   219,300 0 217,230
Rocket Companies, Inc., Class A Common 77311W101 15,513 778,374 SH   SOLE   778,374 0 0
SAP SE, ADR ADR 803054204 17,614 113,048 SH   SOLE   104,295 0 8,753
Simon Property Group, Inc. Common 828806109 7,888 121,950 SH   SOLE   68,650 0 53,300
SL Green Realty Corp. Common 78440X101 3,294 71,040 SH   SOLE   34,570 0 36,470
Slack Technologies, Inc., Class A Common 83088V102 749 27,900 SH   SOLE   27,900 0 0
State Street Corp. Common 857477103 28,277 476,601 SH   SOLE   476,601 0 0
Sunstone Hotel Investors, Inc. Common 867892101 6,746 849,660 SH   SOLE   442,220 0 407,440
Terreno Realty Corp. Common 88146M101 18,858 344,377 SH   SOLE   169,324 0 175,053
Texas Instruments, Inc. Common 882508104 507,375 3,553,295 SH   SOLE   3,468,191 0 85,104
Trip.com Group Ltd., ADR ADR 89677Q107 15,292 491,075 SH   SOLE   491,075 0 0
Truist Financial Corp. Common 89832Q109 1,480 38,899 SH   SOLE   38,899 0 0
U.S. Bancorp Common 902973304 615,211 17,160,699 SH   SOLE   16,917,850 0 242,849
Ulta Beauty, Inc. Common 90384S303 690 3,080 SH   SOLE   3,080 0 0
UnitedHealth Group, Inc. Common 91324P102 61,427 197,027 SH   SOLE   178,880 0 18,147
Ventas, Inc. Common 92276F100 9,898 235,890 SH   SOLE   140,930 0 94,960
VMware, Inc., Class A Common 928563402 3,638 25,320 SH   SOLE   25,320 0 0
Vornado Realty Trust Common 929042109 3,540 105,010 SH   SOLE   56,064 0 48,946
Wells Fargo & Co. Common 949746101 973,482 41,407,144 SH   SOLE   40,654,513 0 752,631
Welltower Inc. Common 95040Q104 17,619 319,830 SH   SOLE   179,580 0 140,250
Xilinx, Inc. Common 983919101 593 5,685 SH   SOLE   5,685 0 0
Yirendai Ltd., ADR ADR 98585L100 6,023 2,048,620 SH   SOLE   2,048,620 0 0