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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Alexandria Real Estate Equities, Inc. Common 015271109   16,396,178 112,557 SH   SOLE   62,993 0 49,564
Alibaba Group Holding Ltd ADR 01609W102   53,942,263 612,354 SH   SOLE   612,305 0 49
Alphabet Inc., Class A Common 02079K305   377,345,946 4,276,844 SH   SOLE   4,203,682 0 73,162
Alphabet Inc., Class C Common 02079K107   399,988,251 4,507,926 SH   SOLE   4,399,452 0 108,474
Amazon.com, Inc. Common 023135106   653,598,624 7,780,936 SH   SOLE   7,627,515 0 153,421
American Express Co. Common 025816109   146,117,692 988,952 SH   SOLE   974,578 0 14,374
American Homes 4 Rent, Class A Common 02665T306   7,757,433 257,380 SH   SOLE   151,330 0 106,050
American Tower Corp Class A Common 03027X100   14,891,639 70,290 SH   SOLE   39,330 0 30,960
Americold Realty Trust Common 03064D108   2,515,344 88,850 SH   SOLE   48,650 0 40,200
Applied Materials, Inc. Common 038222105   706,905,228 7,259,244 SH   SOLE   7,063,940 0 195,304
AvalonBay Communities, Inc. Common 053484101   13,971,480 86,500 SH   SOLE   50,620 0 35,880
Baidu, Inc., Class A, ADR ADR 056752108   5,355,272 46,820 SH   SOLE   46,820 0 0
Bank of America Corp. Common 060505104   97,677,935 2,949,213 SH   SOLE   2,949,213 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208   97,500,878 3,270,744 SH   SOLE   3,270,639 0 105
Bank of New York Mellon Corp. Common 064058100   599,272,796 13,165,044 SH   SOLE   12,905,110 0 259,934
Berkshire Hathaway Inc., Class A Common 084670108   988,511,414 2,109 SH   SOLE   2,109 0 0
Berkshire Hathaway Inc., Class B Common 084670702   365,723,700 1,183,955 SH   SOLE   1,110,650 0 73,305
Boston Properties, Inc. Common 101121101   3,697,978 54,720 SH   SOLE   31,790 0 22,930
Brixmor Property Group, Inc. Common 11120U105   14,360,538 633,460 SH   SOLE   383,710 0 249,750
Camden Property Trust Common 133131102   7,295,695 65,210 SH   SOLE   41,740 0 23,470
Capital One Financial Corp. Common 14040H105   1,010,252,918 10,867,609 SH   SOLE   10,646,004 0 221,605
Carrier Global Corp. Common 14448C104   25,677,052 622,474 SH   SOLE   575,384 0 47,090
Charles Schwab Corp. Common 808513105   29,054,909 348,966 SH   SOLE   348,966 0 0
Chubb Ltd. Common H1467J104   339,352,024 1,538,314 SH   SOLE   1,511,105 0 27,209
Cigna Corp. Common 125523100   609,698,072 1,840,098 SH   SOLE   1,783,375 0 56,723
Clear Secure, Inc. Common 18467V109   18,969,216 691,550 SH   SOLE   671,169 0 20,381
Coupang, Inc., Class A Common 22266T109   95,299,029 6,478,520 SH   SOLE   6,478,398 0 122
Cousins Properties, Inc. Common 222795502   11,738,227 464,145 SH   SOLE   250,920 0 213,225
Crown Castle International Corp. Common 22822V101   11,663,684 85,990 SH   SOLE   48,650 0 37,340
CubeSmart Common 229663109   4,727,363 117,450 SH   SOLE   76,750 0 40,700
CVS Health Corp. Common 126650100   19,391,907 208,090 SH   SOLE   192,515 0 15,575
Darling Ingredients, Inc. Common 237266101   195,902,131 3,129,927 SH   SOLE   3,042,175 0 87,752
Davis Select Financial ETF ETF 23908L108   56,308,310 2,080,320 SH   SOLE   2,080,320 0 0
Davis Select International ETF ETF 23908L405   61,116,384 3,458,765 SH   SOLE   3,458,765 0 0
Davis Select U.S. Equity ETF ETF 23908L207   90,452,686 3,329,138 SH   SOLE   3,329,138 0 0
Davis Select Worldwide ETF ETF 23908L306   48,043,885 1,932,578 SH   SOLE   1,932,578 0 0
Digital Realty Trust, Inc. Common 253868103   10,986,083 109,565 SH   SOLE   61,245 0 48,320
Douglas Emmett, Inc. Common 25960P109   7,586,298 483,820 SH   SOLE   258,290 0 225,530
Eaton Corp. PLC Common G29183103   30,689,375 195,536 SH   SOLE   181,279 0 14,257
Equinix, Inc. Common 29444U700   17,330,784 26,458 SH   SOLE   15,128 0 11,330
Equity Residential Common 29476L107   8,247,315 139,785 SH   SOLE   79,240 0 60,545
Essex Property Trust, Inc. Common 297178105   12,749,319 60,161 SH   SOLE   35,730 0 24,431
Everest Re Group, Ltd. Common G3223R108   16,157,363 48,774 SH   SOLE   48,774 0 0
Extra Space Storage Inc. Common 30225T102   7,406,098 50,320 SH   SOLE   29,460 0 20,860
Federal Realty Investment Trust Common 313745101   5,190,425 51,370 SH   SOLE   31,060 0 20,310
Ferguson PLC Common G3421J106   30,491,266 240,576 SH   SOLE   224,071 0 16,505
Fifth Third Bancorp Common 316773100   62,522,342 1,905,588 SH   SOLE   1,905,588 0 0
Greenlight Capital Re, Ltd., Class A Common G4095J109   7,380,738 905,612 SH   SOLE   905,612 0 0
Healthpeak Properties, Inc. Common 42250P103   4,123,915 164,496 SH   SOLE   95,070 0 69,426
Highwoods Properties, Inc. Common 431284108   4,282,899 153,070 SH   SOLE   82,000 0 71,070
Hollysys Automation Technologies, Ltd. Common G45667105   90,276,229 5,494,597 SH   SOLE   5,494,282 0 315
Host Hotels & Resorts, Inc. Common 44107P104   6,550,487 408,130 SH   SOLE   220,670 0 187,460
Hudson Pacific Properties, Inc. Common 444097109   4,462,888 458,673 SH   SOLE   260,860 0 197,813
Humana Inc. Common 444859102   22,247,485 43,436 SH   SOLE   39,975 0 3,461
IAC Inc. Common 44891N208   81,579,228 1,837,370 SH   SOLE   1,797,018 0 40,352
Innovative Industrial Properties, Inc. Common 45781V101   4,459,400 44,000 SH   SOLE   26,150 0 17,850
Intel Corp. Common 458140100   297,657,370 11,262,103 SH   SOLE   11,036,646 0 225,457
iQIYI, Inc., Class A, ADR ADR 46267X108   22,066,148 4,163,424 SH   SOLE   4,163,182 0 242
iShares Russell 3000 Index Fund ETF 464287689   746,340 3,382 SH   SOLE   2,578 0 804
iShares S&P 500 Value Index Fund ETF 464287408   9,120,261 62,868 SH   SOLE   58,653 0 4,215
JD.com, Inc., Class A, ADR ADR 47215P106   248,657,865 4,430,035 SH   SOLE   4,429,879 0 156
Johnson Controls International PLC Common G51502105   32,629,312 509,833 SH   SOLE   474,502 0 35,331
JPMorgan Chase & Co. Common 46625H100   573,167,394 4,274,179 SH   SOLE   4,181,964 0 92,215
Lam Research Corp. Common 512807108   516,128 1,228 SH   SOLE   1,228 0 0
Liberty Media Corp., Series A Common 531229870   28,742,295 537,943 SH   SOLE   537,855 0 88
Liberty Media Corp., Series C Common 531229854   16,572,630 277,227 SH   SOLE   277,227 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102   174,527 260,644 SH   SOLE   260,644 0 0
Life Storage, Inc. Common 53223X107   5,370,220 54,520 SH   SOLE   34,570 0 19,950
Loews Corp. Common 540424108   95,681,557 1,640,349 SH   SOLE   1,620,618 0 19,731
M&T Bank Corp. Common 55261F104   6,950,550 47,915 SH   SOLE   47,915 0 0
Markel Corp. Common 570535104   329,849,431 250,362 SH   SOLE   242,626 0 7,736
Masterbrand, Inc. Common 57638P104   16,516,682 2,187,640 SH   SOLE   2,017,659 0 169,981
Meta Platforms, Inc., Class A Common 30303M102   786,822,151 6,538,326 SH   SOLE   6,419,410 0 118,916
Microsoft Corp. Common 594918104   86,760,161 361,772 SH   SOLE   345,007 0 16,765
NetSTREIT Corp. Common 64119V303   4,772,216 260,350 SH   SOLE   149,190 0 111,160
Noah Holdings Ltd., Class A, ADS ADR 65487X102   12,344,170 796,398 SH   SOLE   796,355 0 43
Oracle Corp. Common 68389X105   17,672,515 216,204 SH   SOLE   200,509 0 15,695
Owens Corning Common 690742101   307,765,812 3,608,040 SH   SOLE   3,491,016 0 117,024
PNC Financial Services Group, Inc. Common 693475105   70,207,647 444,521 SH   SOLE   444,521 0 0
Prologis, Inc. Common 74340W103   26,992,748 239,446 SH   SOLE   139,519 0 99,927
Public Storage, Inc. Common 74460D109   18,248,775 65,130 SH   SOLE   37,090 0 28,040
Quest Diagnostics, Inc. Common 74834L100   287,196,150 1,835,823 SH   SOLE   1,769,233 0 66,590
Radius Global Infrastructure, Inc. Common 750481103   2,903,465 245,640 SH   SOLE   245,640 0 0
Raytheon Technologies Corp. Common 75513E101   14,581,225 144,483 SH   SOLE   132,815 0 11,668
Retail Opportunity Investments Corp. Common 76131N101   8,494,129 565,145 SH   SOLE   296,945 0 268,200
Rexford Industrial Realty, Inc. Common 76169C100   13,333,799 244,030 SH   SOLE   143,900 0 100,130
RH Common 74967X103   307,269 1,150 SH   SOLE   1,150 0 0
Rocket Companies, Inc., Class A Common 77311W101   26,333,979 3,761,997 SH   SOLE   3,761,997 0 0
SAP SE, ADR ADR 803054204   14,739,144 142,835 SH   SOLE   133,257 0 9,578
Simon Property Group, Inc. Common 828806109   15,305,294 130,280 SH   SOLE   76,350 0 53,930
Skechers U.S.A, Inc. Class A Common 830566105   520,180 12,400 SH   SOLE   12,400 0 0
State Street Corp. Common 857477103   6,928,242 89,316 SH   SOLE   89,316 0 0
STORE Capital Corp. Common 862121100   4,545,146 141,770 SH   SOLE   95,880 0 45,890
Sun Communities, Inc. Common 866674104   4,720,430 33,010 SH   SOLE   18,050 0 14,960
Sunstone Hotel Investors, Inc. Common 867892101   7,888,163 816,580 SH   SOLE   463,840 0 352,740
Teck Resources Ltd., Class B Common 878742204   491,985,706 13,008,612 SH   SOLE   12,685,656 0 322,956
Terreno Realty Corp. Common 88146M101   12,411,707 218,247 SH   SOLE   120,364 0 97,883
Texas Instruments, Inc. Common 882508104   471,469,986 2,853,589 SH   SOLE   2,773,906 0 79,683
Truist Financial Corp. Common 89832Q109   2,981,549 69,290 SH   SOLE   69,290 0 0
UDR, Inc. Common 902653104   9,177,074 236,950 SH   SOLE   131,250 0 105,700
U.S. Bancorp Common 902973304   689,093,836 15,801,280 SH   SOLE   15,460,117 0 341,163
UnitedHealth Group, Inc. Common 91324P102   61,594,722 116,177 SH   SOLE   106,898 0 9,279
Ventas, Inc. Common 92276F100   10,917,868 242,350 SH   SOLE   140,370 0 101,980
Viatris, Inc. Common 92556V106   609,051,486 54,721,607 SH   SOLE   53,534,991 0 1,186,616
VICI Properties, Inc. Common 925652109   4,876,524 150,510 SH   SOLE   87,270 0 63,240
Vimeo, Inc. Common 92719V100   3,276,165 955,150 SH   SOLE   884,963 0 70,187
Wells Fargo & Co. Common 949746101   1,272,264,885 30,812,906 SH   SOLE   30,281,256 0 531,650
Welltower Inc. Common 95040Q104   10,027,839 152,980 SH   SOLE   80,850 0 72,130
Wesco International, Inc. Common 95082P105   6,498,506 51,905 SH   SOLE   46,735 0 5,170