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   13,192,872 116,247 SH   SOLE   63,923 0 52,324
Alibaba Group Holding Ltd ADR 01609W102   15,395,912 184,714 SH   SOLE   184,714 0 0
Alphabet Inc., Class A Common 02079K305   431,774,321 3,606,619 SH   SOLE   3,521,472 0 85,147
Alphabet Inc., Class C Common 02079K107   88,140,919 728,618 SH   SOLE   715,541 0 13,077
Amazon.com, Inc. Common 023135106   1,072,810,834 8,229,601 SH   SOLE   8,065,935 0 163,666
American Express Co. Common 025816109   165,502,268 950,068 SH   SOLE   935,692 0 14,376
American Homes 4 Rent, Class A Common 02665T306   9,403,467 265,260 SH   SOLE   153,310 0 111,950
American Tower Corp Class A Common 03027X100   12,301,614 63,430 SH   SOLE   34,690 0 28,740
Applied Materials, Inc. Common 038222105   1,003,834,167 6,945,026 SH   SOLE   6,774,524 0 170,502
AvalonBay Communities, Inc. Common 053484101   17,990,114 95,050 SH   SOLE   54,550 0 40,500
Baidu, Inc., Class A, ADR ADR 056752108   6,695,857 48,907 SH   SOLE   48,907 0 0
Bank of America Corp. Common 060505104   81,109,757 2,827,109 SH   SOLE   2,827,109 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208   88,155,381 3,222,053 SH   SOLE   3,221,948 0 105
Bank of New York Mellon Corp. Common 064058100   584,511,761 13,129,195 SH   SOLE   12,840,987 0 288,208
Berkshire Hathaway Inc., Class A Common 084670108   1,043,387,150 2,015 SH   SOLE   2,015 0 0
Berkshire Hathaway Inc., Class B Common 084670702   386,471,155 1,133,346 SH   SOLE   1,065,164 0 68,182
Boston Properties, Inc. Common 101121101   7,256,916 126,010 SH   SOLE   70,300 0 55,710
Brixmor Property Group, Inc. Common 11120U105   15,200,020 690,910 SH   SOLE   389,390 0 301,520
Camden Property Trust Common 133131102   6,353,653 58,360 SH   SOLE   37,430 0 20,930
Capital One Financial Corp. Common 14040H105   1,231,955,594 11,264,109 SH   SOLE   11,008,342 0 255,767
Carrier Global Corp. Common 14448C104   31,045,277 624,528 SH   SOLE   577,809 0 46,719
Charles Schwab Corp. Common 808513105   18,704,287 329,998 SH   SOLE   329,998 0 0
Chubb Ltd. Common H1467J104   284,814,717 1,479,094 SH   SOLE   1,452,188 0 26,906
The Cigna Group Common 125523100   483,234,414 1,722,146 SH   SOLE   1,672,493 0 49,653
Clear Secure, Inc. Common 18467V109   15,606,907 673,582 SH   SOLE   653,046 0 20,536
Community Healthcare Trust, Inc. Common 20369C106   3,461,487 104,830 SH   SOLE   58,950 0 45,880
Coupang, Inc., Class A Common 22266T109   113,336,280 6,513,579 SH   SOLE   6,513,457 0 122
Cousins Properties, Inc. Common 222795502   15,788,886 692,495 SH   SOLE   373,850 0 318,645
Crown Castle International Corp. Common 22822V101   8,527,270 74,840 SH   SOLE   41,520 0 33,320
CubeSmart Common 229663109   5,306,055 118,810 SH   SOLE   78,110 0 40,700
CVS Health Corp. Common 126650100   14,365,849 207,809 SH   SOLE   192,279 0 15,530
Darling Ingredients, Inc. Common 237266101   203,433,677 3,189,114 SH   SOLE   3,097,885 0 91,229
Davis Select Financial ETF ETF 23908L108   57,277,567 2,112,316 SH   SOLE   2,112,316 0 0
Davis Select International ETF ETF 23908L405   73,386,806 3,893,199 SH   SOLE   3,893,199 0 0
Davis Select U.S. Equity ETF ETF 23908L207   106,777,707 3,332,430 SH   SOLE   3,332,430 0 0
Davis Select Worldwide ETF ETF 23908L306   55,907,346 1,941,227 SH   SOLE   1,941,227 0 0
Digital Realty Trust, Inc. Common 253868103   11,773,589 103,395 SH   SOLE   56,685 0 46,710
Douglas Emmett, Inc. Common 25960P109   6,239,371 496,370 SH   SOLE   258,290 0 238,080
Eaton Corp. PLC Common G29183103   34,193,812 170,033 SH   SOLE   157,458 0 12,575
Equinix, Inc. Common 29444U700   14,830,577 18,918 SH   SOLE   11,008 0 7,910
Equity Residential Common 29476L107   9,536,293 144,555 SH   SOLE   80,640 0 63,915
Essex Property Trust, Inc. Common 297178105   15,984,180 68,221 SH   SOLE   38,690 0 29,531
Everest Re Group, Ltd. Common G3223R108   15,335,156 44,858 SH   SOLE   44,858 0 0
Federal Realty Investment Trust Common 313745101   5,080,425 52,500 SH   SOLE   31,060 0 21,440
Ferguson PLC Common G3421J106   37,600,279 238,906 SH   SOLE   222,671 0 16,235
Fifth Third Bancorp Common 316773100   64,671,183 2,467,424 SH   SOLE   2,467,424 0 0
Healthpeak Properties, Inc. Common 42250P103   4,035,598 200,776 SH   SOLE   115,830 0 84,946
Highwoods Properties, Inc. Common 431284108   3,754,348 157,020 SH   SOLE   82,000 0 75,020
Hollysys Automation Technologies, Ltd. Common G45667105   95,481,217 5,428,153 SH   SOLE   5,427,838 0 315
Hudson Pacific Properties, Inc. Common 444097109   2,864,760 678,853 SH   SOLE   388,480 0 290,373
Humana Inc. Common 444859102   19,490,032 43,589 SH   SOLE   39,894 0 3,695
IAC Inc. Common 44891N208   159,063,282 2,532,853 SH   SOLE   2,461,455 0 71,398
Intel Corp. Common 458140100   377,576,365 11,291,159 SH   SOLE   11,025,272 0 265,887
iQIYI, Inc., Class A, ADR ADR 46267X108   7,675,423 1,437,345 SH   SOLE   1,437,345 0 0
iShares S&P 500 Value Index Fund ETF 464287408   428,282 2,657 SH   SOLE   2,457 0 200
JD.com, Inc., Class A, ADR ADR 47215P106   165,038,268 4,835,578 SH   SOLE   4,835,371 0 207
Johnson Controls International PLC Common G51502105   34,953,044 512,959 SH   SOLE   478,262 0 34,697
JPMorgan Chase & Co. Common 46625H100   611,733,393 4,206,087 SH   SOLE   4,107,986 0 98,101
Lam Research Corp. Common 512807108   789,432 1,228 SH   SOLE   1,228 0 0
Liberty Formula One, Series A Common 531229870   35,101,741 519,103 SH   SOLE   519,015 0 88
Liberty Formula One, Series C Common 531229854   20,160,586 267,808 SH   SOLE   267,808 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102   164,797 253,534 SH   SOLE   253,534 0 0
Life Storage, Inc. Common 53223X107   7,263,605 54,630 SH   SOLE   34,680 0 19,950
Loews Corp. Common 540424108   92,025,219 1,549,767 SH   SOLE   1,530,935 0 18,832
M&T Bank Corp. Common 55261F104   5,803,725 46,895 SH   SOLE   46,895 0 0
Markel Corp. Common 570535104   366,869,812 265,233 SH   SOLE   257,504 0 7,729
Masterbrand, Inc. Common 57638P104   26,399,240 2,269,926 SH   SOLE   2,101,121 0 168,805
Meta Platforms, Inc., Class A Common 30303M102   1,640,181,923 5,715,317 SH   SOLE   5,630,868 0 84,449
Microsoft Corp. Common 594918104   117,619,519 345,390 SH   SOLE   329,042 0 16,348
NetSTREIT Corp. Common 64119V303   2,843,296 159,110 SH   SOLE   90,520 0 68,590
Noah Holdings Ltd., Class A, ADS ADR 65487X102   11,147,479 791,724 SH   SOLE   791,681 0 43
Oracle Corp. Common 68389X105   23,277,298 195,460 SH   SOLE   181,014 0 14,446
Owens Corning Common 690742101   544,874,060 4,175,279 SH   SOLE   4,035,522 0 139,757
PNC Financial Services Group, Inc. Common 693475105   53,996,402 428,713 SH   SOLE   428,713 0 0
Prologis, Inc. Common 74340W103   25,776,335 210,196 SH   SOLE   117,899 0 92,297
Public Storage, Inc. Common 74460D109   17,813,436 61,030 SH   SOLE   34,310 0 26,720
Quest Diagnostics, Inc. Common 74834L100   212,792,107 1,513,888 SH   SOLE   1,456,926 0 56,962
Regency Centers Corp. Common 758849103   5,608,716 90,800 SH   SOLE   50,360 0 40,440
Retail Opportunity Investments Corp. Common 76131N101   7,836,678 580,065 SH   SOLE   296,945 0 283,120
Rexford Industrial Realty, Inc. Common 76169C100   7,383,386 141,390 SH   SOLE   88,300 0 53,090
RH Common 74967X103   738,282 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   31,303,310 3,493,673 SH   SOLE   3,493,673 0 0
SAP SE, ADR ADR 803054204   19,276,342 140,899 SH   SOLE   131,599 0 9,300
Simon Property Group, Inc. Common 828806109   15,563,240 134,770 SH   SOLE   77,180 0 57,590
Skechers U.S.A, Inc. Class A Common 830566105   652,984 12,400 SH   SOLE   12,400 0 0
State Street Corp. Common 857477103   4,163,064 56,888 SH   SOLE   56,888 0 0
Sun Communities, Inc. Common 866674104   4,414,766 33,840 SH   SOLE   18,050 0 15,790
Sunstone Hotel Investors, Inc. Common 867892101   8,462,344 836,200 SH   SOLE   463,840 0 372,360
Teck Resources Ltd., Class B Common 878742204   543,253,754 12,903,889 SH   SOLE   12,588,498 0 315,391
Terreno Realty Corp. Common 88146M101   11,711,507 194,867 SH   SOLE   105,444 0 89,423
Texas Instruments, Inc. Common 882508104   503,245,194 2,795,495 SH   SOLE   2,715,040 0 80,455
Truist Financial Corp. Common 89832Q109   2,003,525 66,014 SH   SOLE   66,014 0 0
UDR, Inc. Common 902653104   10,508,446 244,610 SH   SOLE   133,030 0 111,580
U.S. Bancorp Common 902973304   509,553,884 15,422,333 SH   SOLE   15,063,004 0 359,329
UnitedHealth Group, Inc. Common 91324P102   54,694,048 113,794 SH   SOLE   104,985 0 8,809
Ventas, Inc. Common 92276F100   11,829,790 250,260 SH   SOLE   142,610 0 107,650
Viatris, Inc. Common 92556V106   628,222,593 62,948,155 SH   SOLE   61,222,940 0 1,725,215
VICI Properties, Inc. Common 925652109   4,730,529 150,510 SH   SOLE   87,270 0 63,240
Vimeo, Inc. Common 92719V100   4,048,562 982,661 SH   SOLE   905,829 0 76,832
Wells Fargo & Co. Common 949746101   1,311,971,275 30,739,720 SH   SOLE   30,155,324 0 584,396
Welltower Inc. Common 95040Q104   14,685,580 181,550 SH   SOLE   91,840 0 89,710
Wesco International, Inc. Common 95082P105   23,861,900 133,262 SH   SOLE   122,825 0 10,437