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   14,252,832 113,487 SH   SOLE   63,923 0 49,564
Alibaba Group Holding Ltd ADR 01609W102   25,605,388 250,591 SH   SOLE   250,591 0 0
Alphabet Inc., Class A Common 02079K305   446,284,743 4,302,369 SH   SOLE   4,217,098 0 85,271
Alphabet Inc., Class C Common 02079K107   475,038,130 4,567,675 SH   SOLE   4,447,034 0 120,641
Amazon.com, Inc. Common 023135106   852,840,644 8,256,759 SH   SOLE   8,092,125 0 164,634
American Express Co. Common 025816109   159,048,645 964,224 SH   SOLE   949,792 0 14,432
American Homes 4 Rent, Class A Common 02665T306   8,156,872 259,360 SH   SOLE   153,310 0 106,050
American Tower Corp Class A Common 03027X100   12,652,733 61,920 SH   SOLE   34,690 0 27,230
Applied Materials, Inc. Common 038222105   877,438,435 7,143,519 SH   SOLE   6,954,353 0 189,166
AvalonBay Communities, Inc. Common 053484101   15,616,135 92,920 SH   SOLE   54,550 0 38,370
Baidu, Inc., Class A, ADR ADR 056752108   23,308,688 154,444 SH   SOLE   154,444 0 0
Bank of America Corp. Common 060505104   82,872,533 2,897,641 SH   SOLE   2,897,641 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208   88,040,595 3,260,763 SH   SOLE   3,260,658 0 105
Bank of New York Mellon Corp. Common 064058100   590,983,534 13,005,799 SH   SOLE   12,748,140 0 257,659
Berkshire Hathaway Inc., Class A Common 084670108   947,961,600 2,036 SH   SOLE   2,036 0 0
Berkshire Hathaway Inc., Class B Common 084670702   357,725,941 1,158,551 SH   SOLE   1,088,885 0 69,666
Boston Properties, Inc. Common 101121101   6,660,548 123,070 SH   SOLE   70,300 0 52,770
Brixmor Property Group, Inc. Common 11120U105   13,754,293 639,140 SH   SOLE   389,390 0 249,750
Camden Property Trust Common 133131102   6,003,138 57,260 SH   SOLE   37,430 0 19,830
Capital One Financial Corp. Common 14040H105   1,034,726,081 10,760,462 SH   SOLE   10,538,839 0 221,623
Carrier Global Corp. Common 14448C104   28,561,999 624,306 SH   SOLE   578,349 0 45,957
Charles Schwab Corp. Common 808513105   17,848,171 340,744 SH   SOLE   340,744 0 0
Chubb Ltd. Common H1467J104   290,231,090 1,494,650 SH   SOLE   1,467,615 0 27,035
Cigna Corp. Common 125523100   444,125,545 1,738,056 SH   SOLE   1,687,817 0 50,239
Clear Secure, Inc. Common 18467V109   17,890,362 683,621 SH   SOLE   663,471 0 20,150
Community Healthcare Trust, Inc. Common 20369C106   1,854,522 50,670 SH   SOLE   29,300 0 21,370
Coupang, Inc., Class A Common 22266T109   103,717,152 6,482,322 SH   SOLE   6,482,200 0 122
Cousins Properties, Inc. Common 222795502   14,446,573 675,705 SH   SOLE   373,850 0 301,855
Crown Castle International Corp. Common 22822V101   9,781,027 73,080 SH   SOLE   41,520 0 31,560
CubeSmart Common 229663109   5,491,398 118,810 SH   SOLE   78,110 0 40,700
CVS Health Corp. Common 126650100   15,452,506 207,946 SH   SOLE   192,668 0 15,278
Darling Ingredients, Inc. Common 237266101   182,629,185 3,127,212 SH   SOLE   3,036,121 0 91,091
Davis Select Financial ETF ETF 23908L108   54,844,971 2,112,316 SH   SOLE   2,112,316 0 0
Davis Select International ETF ETF 23908L405   71,515,447 3,893,199 SH   SOLE   3,893,199 0 0
Davis Select U.S. Equity ETF ETF 23908L207   94,740,972 3,332,430 SH   SOLE   3,332,430 0 0
Davis Select Worldwide ETF ETF 23908L306   51,326,050 1,941,227 SH   SOLE   1,941,227 0 0
Digital Realty Trust, Inc. Common 253868103   9,922,920 100,935 SH   SOLE   56,685 0 44,250
Douglas Emmett, Inc. Common 25960P109   5,965,501 483,820 SH   SOLE   258,290 0 225,530
Eaton Corp. PLC Common G29183103   33,686,340 196,605 SH   SOLE   182,740 0 13,865
Equinix, Inc. Common 29444U700   17,144,889 23,778 SH   SOLE   13,668 0 10,110
Equity Residential Common 29476L107   8,471,100 141,185 SH   SOLE   80,640 0 60,545
Essex Property Trust, Inc. Common 297178105   13,600,583 65,031 SH   SOLE   38,690 0 26,341
Everest Re Group, Ltd. Common G3223R108   16,658,671 46,530 SH   SOLE   46,530 0 0
Federal Realty Investment Trust Common 313745101   5,076,897 51,370 SH   SOLE   31,060 0 20,310
Ferguson PLC Common G3421J106   32,025,746 240,054 SH   SOLE   224,016 0 16,038
Fifth Third Bancorp Common 316773100   63,974,255 2,401,436 SH   SOLE   2,401,436 0 0
Greenlight Capital Re, Ltd., Class A Common G4095J109   6,220,988 662,512 SH   SOLE   662,512 0 0
Healthpeak Properties, Inc. Common 42250P103   4,411,049 200,776 SH   SOLE   115,830 0 84,946
Highwoods Properties, Inc. Common 431284108   3,549,693 153,070 SH   SOLE   82,000 0 71,070
Hollysys Automation Technologies, Ltd. Common G45667105   95,740,284 5,524,540 SH   SOLE   5,524,225 0 315
Hudson Pacific Properties, Inc. Common 444097109   4,514,372 678,853 SH   SOLE   388,480 0 290,373
Humana Inc. Common 444859102   21,150,292 43,568 SH   SOLE   40,023 0 3,545
IAC Inc. Common 44891N208   95,460,121 1,850,002 SH   SOLE   1,806,358 0 43,644
Intel Corp. Common 458140100   371,007,827 11,356,224 SH   SOLE   11,099,129 0 257,095
iQIYI, Inc., Class A, ADR ADR 46267X108   22,101,942 3,035,981 SH   SOLE   3,035,739 0 242
JD.com, Inc., Class A, ADR ADR 47215P106   214,732,115 4,892,507 SH   SOLE   4,892,300 0 207
Johnson Controls International PLC Common G51502105   30,839,074 512,107 SH   SOLE   478,004 0 34,103
JPMorgan Chase & Co. Common 46625H100   546,428,232 4,193,294 SH   SOLE   4,102,899 0 90,395
Lam Research Corp. Common 512807108   650,987 1,228 SH   SOLE   1,228 0 0
Liberty Media Corp., Series A Common 531229870   35,735,664 529,417 SH   SOLE   529,329 0 88
Liberty Media Corp., Series C Common 531229854   20,436,522 273,106 SH   SOLE   273,106 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102   218,997 254,944 SH   SOLE   254,944 0 0
Life Storage, Inc. Common 53223X107   7,161,447 54,630 SH   SOLE   34,680 0 19,950
Loews Corp. Common 540424108   91,870,556 1,583,429 SH   SOLE   1,564,212 0 19,217
M&T Bank Corp. Common 55261F104   5,647,889 47,235 SH   SOLE   47,235 0 0
Markel Corp. Common 570535104   313,803,528 245,656 SH   SOLE   237,986 0 7,670
Masterbrand, Inc. Common 57638P104   18,116,082 2,253,244 SH   SOLE   2,086,631 0 166,613
Meta Platforms, Inc., Class A Common 30303M102   1,328,307,720 6,267,376 SH   SOLE   6,156,966 0 110,410
Microsoft Corp. Common 594918104   101,390,752 351,685 SH   SOLE   335,257 0 16,428
NetSTREIT Corp. Common 64119V303   2,908,531 159,110 SH   SOLE   90,520 0 68,590
Noah Holdings Ltd., Class A, ADS ADR 65487X102   13,325,979 805,195 SH   SOLE   805,152 0 43
Oracle Corp. Common 68389X105   18,661,905 200,838 SH   SOLE   185,947 0 14,891
Owens Corning Common 690742101   345,251,823 3,603,881 SH   SOLE   3,489,620 0 114,261
PNC Financial Services Group, Inc. Common 693475105   54,586,781 429,479 SH   SOLE   429,479 0 0
Prologis, Inc. Common 74340W103   30,100,263 241,246 SH   SOLE   141,319 0 99,927
Public Storage, Inc. Common 74460D109   19,832,470 65,640 SH   SOLE   37,600 0 28,040
Quest Diagnostics, Inc. Common 74834L100   214,873,086 1,518,752 SH   SOLE   1,461,926 0 56,826
Retail Opportunity Investments Corp. Common 76131N101   7,889,424 565,145 SH   SOLE   296,945 0 268,200
Rexford Industrial Realty, Inc. Common 76169C100   14,670,321 245,940 SH   SOLE   145,810 0 100,130
RH Common 74967X103   545,552 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   32,703,076 3,609,611 SH   SOLE   3,609,611 0 0
SAP SE, ADR ADR 803054204   17,980,220 142,080 SH   SOLE   132,784 0 9,296
Simon Property Group, Inc. Common 828806109   14,680,387 131,110 SH   SOLE   77,180 0 53,930
Skechers U.S.A, Inc. Class A Common 830566105   589,248 12,400 SH   SOLE   12,400 0 0
State Street Corp. Common 857477103   4,354,748 57,534 SH   SOLE   57,534 0 0
Sun Communities, Inc. Common 866674104   4,650,449 33,010 SH   SOLE   18,050 0 14,960
Sunstone Hotel Investors, Inc. Common 867892101   8,067,810 816,580 SH   SOLE   463,840 0 352,740
Teck Resources Ltd., Class B Common 878742204   474,954,628 13,012,456 SH   SOLE   12,692,468 0 319,988
Terreno Realty Corp. Common 88146M101   14,202,116 219,847 SH   SOLE   121,964 0 97,883
Texas Instruments, Inc. Common 882508104   517,419,495 2,781,675 SH   SOLE   2,703,976 0 77,699
Truist Financial Corp. Common 89832Q109   2,288,315 67,106 SH   SOLE   67,106 0 0
UDR, Inc. Common 902653104   9,802,254 238,730 SH   SOLE   133,030 0 105,700
U.S. Bancorp Common 902973304   560,422,724 15,545,706 SH   SOLE   15,190,142 0 355,564
UnitedHealth Group, Inc. Common 91324P102   54,273,176 114,842 SH   SOLE   106,015 0 8,827
Ventas, Inc. Common 92276F100   10,602,977 244,590 SH   SOLE   142,610 0 101,980
Viatris, Inc. Common 92556V106   529,186,653 55,009,008 SH   SOLE   53,698,512 0 1,310,496
VICI Properties, Inc. Common 925652109   4,909,636 150,510 SH   SOLE   87,270 0 63,240
Vimeo, Inc. Common 92719V100   3,759,084 981,484 SH   SOLE   905,729 0 75,755
Wells Fargo & Co. Common 949746101   1,134,382,880 30,347,321 SH   SOLE   29,819,628 0 527,693
Welltower Inc. Common 95040Q104   13,015,320 181,550 SH   SOLE   91,840 0 89,710
Wesco International, Inc. Common 95082P105   7,363,522 47,648 SH   SOLE   43,831 0 3,817