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 2,153 30,086 SH   SOLE   30,086 0 0
Acadia Realty Trust Common 004239109 19,445 710,700 SH   SOLE   312,140 0 398,560
Adient PLC Common G0084W101 594,262 7,550,983 SH   SOLE   7,382,737 0 168,246
Aetna Inc. Common 00817Y108 587,256 3,255,479 SH   SOLE   3,181,799 0 73,680
Air Products & Chemicals, Inc. Common 009158106 309 1,883 SH   SOLE   0 0 1,883
Alexandria Real Estate Equities, Inc. Common 015271109 12,772 97,800 SH   SOLE   46,046 0 51,754
Alibaba Group Holding Ltd. ADR ADR 01609W102 602,200 3,492,429 SH   SOLE   3,445,798 0 46,631
Alleghany Corporation Common 017175100 47,561 79,789 SH   SOLE   79,789 0 0
Alphabet Inc., Class A Common 02079K305 738,938 701,479 SH   SOLE   688,096 0 13,383
Alphabet Inc., Class C Common 02079K107 1,218,958 1,164,907 SH   SOLE   1,149,070 0 15,837
Amazon.com, Inc. Common 023135106 1,738,843 1,486,864 SH   SOLE   1,460,370 0 26,494
American Campus Communities, Inc. Common 024835100 10,799 263,189 SH   SOLE   126,305 0 136,884
American Express Co. Common 025816109 773,503 7,788,769 SH   SOLE   7,668,277 0 120,492
American Homes 4 Rent, Class A Common 02665T306 2,791 127,782 SH   SOLE   56,532 0 71,250
American International Group. Inc. Common 026874784 21,766 365,316 SH   SOLE   365,316 0 0
ANGI Homeservices Inc., Class A Common 00183L102 51,811 4,953,268 SH   SOLE   4,647,614 0 305,654
Apache Corporation Common 037411105 871,847 20,650,094 SH   SOLE   20,237,158 0 412,936
Applied Materials, Inc. Common 038222105 25,725 503,225 SH   SOLE   470,306 0 32,919
Aptiv PLC Common G6095L109 211,805 2,496,817 SH   SOLE   2,426,581 0 70,236
AvalonBay Communities, Inc. Common 053484101 15,006 84,111 SH   SOLE   40,221 0 43,890
Axalta Coating Systems Ltd. Common G0750C108 309,915 9,577,113 SH   SOLE   9,368,733 0 208,380
Baidu, Inc. Class A, ADR ADR 056752108 21,834 93,223 SH   SOLE   93,223 0 0
Bank of New York Mellon Corp. Common 064058100 1,052,207 19,535,957 SH   SOLE   19,258,818 0 277,139
Berkshire Hathaway Inc., Class A Common 084670108 1,227,600 4,125 SH   SOLE   4,121 0 4
Berkshire Hathaway Inc., Class B Common 084670702 351,498 1,773,272 SH   SOLE   1,662,872 0 110,400
Boston Properties, Inc. Common 101121101 15,808 121,572 SH   SOLE   53,012 0 68,560
Brandywine Realty Trust Common 105368203 8,803 483,936 SH   SOLE   211,765 0 272,171
Brixmor Property Group, Inc. Common 11120U105 2,853 152,870 SH   SOLE   65,870 0 87,000
Brookfield Asset Management Inc., Class A ADR 112585104 31,915 733,011 SH   SOLE   733,011 0 0
Brookfield Business Partners, L.P. Partnership G16234109 459 13,307 SH   SOLE   13,307 0 0
Cabot Oil & Gas Corp. Common 127097103 412,722 14,430,824 SH   SOLE   13,978,886 0 451,938
Camden Property Trust Common 133131102 12,521 136,012 SH   SOLE   54,672 0 81,340
Capital One Financial Corp. Common 14040H105 1,184,825 11,898,226 SH   SOLE   11,733,257 0 164,969
CarMax, Inc. Common 143130102 368 5,742 SH   SOLE   1,442 0 4,300
CatchMark Timber Trust Inc., Class A Common 14912Y202 14,627 1,114,015 SH   SOLE   486,628 0 627,387
Cedar Realty Trust, Inc. Common 150602209 3,373 554,706 SH   SOLE   241,396 0 313,310
Charles Schwab Corp. Common 808513105 43,498 846,768 SH   SOLE   846,768 0 0
Chubb Ltd. Common H1467J104 209,968 1,436,856 SH   SOLE   1,420,096 0 16,760
CommerceHub, Inc., Series A Common 20084V108 1,912 86,955 SH   SOLE   86,893 0 62
CommerceHub, Inc., Series C Common 20084V306 3,585 174,105 SH   SOLE   173,970 0 135
Concho Resources Inc. Common 20605P101 20,566 136,907 SH   SOLE   123,128 0 13,779
Costco Wholesale Corp. Common 22160K105 2,529 13,590 SH   SOLE   13,590 0 0
Cousins Properties, Inc. Common 222795106 11,563 1,250,085 SH   SOLE   566,505 0 683,580
Crown Castle International Corp. Common 22822V101 9,509 85,655 SH   SOLE   37,485 0 48,170
Ctrip.com International, Ltd. ADR ADR 22943F100 11,333 256,991 SH   SOLE   256,991 0 0
CubeSmart Common 229663109 10,701 370,025 SH   SOLE   162,395 0 207,630
CyrusOne, Inc. Common 23283R100 8,652 145,345 SH   SOLE   64,277 0 81,068
Davis Select Financial ETF 23908L108 43,458 1,814,550 SH   SOLE   1,814,550 0 0
Davis Select U.S. Equity ETF 23908L207 65,587 2,803,000 SH   SOLE   2,803,000 0 0
Davis Select Worldwide ETF 23908L306 43,317 1,650,800 SH   SOLE   1,650,800 0 0
DCT Industrial Trust, Inc. Common 233153204 9,937 169,061 SH   SOLE   87,404 0 81,657
DDR Corporation Common 23317H102 1,667 186,013 SH   SOLE   109,053 0 76,960
Delphi Technologies PLC Common G2709G107 36,988 704,943 SH   SOLE   694,660 0 10,283
Diplomat Pharmacy, Inc. Common 25456K101 36,108 1,799,128 SH   SOLE   1,701,284 0 97,844
DowDuPont Inc. Common 26078J100 855 12,000 SH   SOLE   12,000 0 0
DXC Technology Co. Common 23355L106 1,074 11,319 SH   SOLE   11,319 0 0
EastGroup Properties, Inc. Common 277276101 8,664 98,026 SH   SOLE   43,226 0 54,800
Eaton Corporation Plc Common G29183103 26,543 335,951 SH   SOLE   301,701 0 34,250
Ecolab, Inc. Common 278865100 585 4,358 SH   SOLE   4,358 0 0
Encana Corporation ADR 292505104 818,747 61,421,348 SH   SOLE   60,160,596 0 1,260,752
EQT Midstream Partners L.P. Partnership 26885B100 17,198 235,264 SH   SOLE   215,997 0 19,267
Equity Residential Common 29476L107 14,097 221,058 SH   SOLE   82,153 0 138,905
Essex Property Trust, Inc. Common 297178105 20,139 83,436 SH   SOLE   33,265 0 50,171
Everest Re Group, Ltd. Common G3223R108 52,005 235,042 SH   SOLE   235,042 0 0
Express Scripts Holding Co. Common 30219G108 292,342 3,916,700 SH   SOLE   3,834,713 0 81,987
Extra Space Storage, Inc. Common 30225T102 9,742 111,398 SH   SOLE   47,418 0 63,980
Facebook, Inc. Common 30303M102 599,302 3,396,248 SH   SOLE   3,331,664 0 64,584
Fang Holdings Ltd ADR 30711Y102 154,384 27,667,470 SH   SOLE   27,238,803 0 428,667
Federal Realty Investment Trust Common 313747206 11,355 85,496 SH   SOLE   36,376 0 49,120
FedEx Corp. Common 31428X106 405,001 1,622,989 SH   SOLE   1,590,169 0 32,820
First Industrial Realty Trust, Inc. Common 32054K103 15,308 486,422 SH   SOLE   174,752 0 311,670
Forest City Realty Trust, Inc., Class A Common 345605109 12,711 527,436 SH   SOLE   229,226 0 298,210
GGP Inc. Common 36174X101 8,598 367,591 SH   SOLE   162,221 0 205,370
Goldman Sachs Group, Inc. Common 38141G104 65,541 257,264 SH   SOLE   257,264 0 0
Hollysys Automation Technologies Ltd. ADR G45667105 100,914 4,531,409 SH   SOLE   4,531,409 0 0
Host Hotels & Resorts, Inc. Common 44107P104 10,704 539,227 SH   SOLE   229,737 0 309,490
HP, Inc. Common 40434L105 438 20,830 SH   SOLE   20,830 0 0
Hudson Pacific Properties Inc. Common 444097109 11,485 335,314 SH   SOLE   146,514 0 188,800
ICICI Bank Limited ADR ADR 45104G104 6,719 690,574 SH   SOLE   690,574 0 0
Intel Corp. Common 458140100 19,716 427,118 SH   SOLE   388,859 0 38,259
InterXion Holding NV Common N47279109 3,787 64,266 SH   SOLE   64,266 0 0
Invitation Homes, Inc. Common 46187W107 2,813 119,366 SH   SOLE   52,766 0 66,600
iShares Russell 3000 Index Fund ETF 464287689 527 3,331 SH   SOLE   3,219 0 112
iShares S&P 500 Value Index Fund ETF 464287408 17,105 149,732 SH   SOLE   137,083 0 12,649
JBG SMITH Properties Common 46590V100 6,020 173,348 SH   SOLE   75,775 0 97,573
JD.com, Inc ADR ADR 47215P106 102,737 2,480,374 SH   SOLE   2,413,380 0 66,994
Johnson Controls International PLC Common G51502105 653,448 17,146,373 SH   SOLE   16,853,823 0 292,550
JPMorgan Chase & Co. Common 46625H100 1,346,293 12,589,233 SH   SOLE   12,405,707 0 183,526
Kimco Realty Corp. Common 49446R109 8,404 463,030 SH   SOLE   201,910 0 261,120
Kite Realty Group Trust Common 49803T300 2,738 139,687 SH   SOLE   60,775 0 78,912
KKR & Co. L.P. Partnership 48248M102 50,909 2,417,341 SH   SOLE   2,417,341 0 0
Lam Research Corp. Common 512807108 641 3,485 SH   SOLE   3,485 0 0
Liberty Expedia Holdings, Inc. Common 53046P109 15,435 348,194 SH   SOLE   347,924 0 270
Liberty Global PLC, LiLAC Class C Common G5480U153 24,642 1,238,925 SH   SOLE   1,237,987 0 938
Liberty Global PLC, Series C Common G5480U120 337,128 9,962,415 SH   SOLE   9,767,893 0 194,522
Liberty Interactive Corp., QVC Group, Series A Common 53071M104 49,979 2,046,649 SH   SOLE   2,011,924 0 34,725
Liberty Interactive, Liberty Ventures, Series A Common 53071M856 28,320 522,118 SH   SOLE   521,723 0 395
Liberty TripAdvisor Holdings, Inc., Series A Common 531465102 4,658 494,270 SH   SOLE   493,890 0 380
Life Storage, Inc. Common 53223X107 11,756 131,991 SH   SOLE   57,641 0 74,350
Loews Corp. Common 540424108 236,725 4,731,662 SH   SOLE   4,665,657 0 66,005
Markel Corp. Common 570535104 291,617 256,000 SH   SOLE   253,363 0 2,637
Marsh & McLennan Co. Common 571748102 24,969 306,784 SH   SOLE   306,784 0 0
Microsoft Corp. Common 594918104 295,365 3,452,947 SH   SOLE   3,388,343 0 64,604
Monsanto Co. Common 61166W101 3,424 29,320 SH   SOLE   29,320 0 0
Moody's Corp. Common 615369105 1,061 7,190 SH   SOLE   7,190 0 0
New Oriental Education & Technology ADR ADR 647581107 101,234 1,076,958 SH   SOLE   1,076,958 0 0
Noah Holdings Ltd. ADS ADR 65487X102 63,337 1,368,557 SH   SOLE   1,368,557 0 0
Novartis AG ADR ADR 66987V109 26,799 319,186 SH   SOLE   319,186 0 0
Occidental Petroleum Corp. Common 674599105 257,094 3,490,276 SH   SOLE   3,443,655 0 46,621
Oracle Corporation Common 68389X105 184,029 3,892,317 SH   SOLE   3,807,386 0 84,931
PACCAR, Inc. Common 693718108 225 3,167 SH   SOLE   0 0 3,167
PNC Financial Services Group, Inc. Common 693475105 45,621 316,173 SH   SOLE   316,173 0 0
PPG Industries, Inc. Common 693506107 639 5,470 SH   SOLE   5,470 0 0
Praxair, Inc. Common 74005P104 1,231 7,956 SH   SOLE   7,819 0 137
Prologis, Inc. Common 74340W103 17,080 264,760 SH   SOLE   117,120 0 147,640
Public Storage Common 74460D109 20,604 98,584 SH   SOLE   40,234 0 58,350
Quest Diagnostics Inc. Common 74834L100 13,069 132,697 SH   SOLE   119,068 0 13,629
Quotient Technology, Inc. Common 749119103 21,038 1,790,438 SH   SOLE   1,668,574 0 121,864
Ramco-Gershenson Properties Trust Common 751452202 3,050 207,051 SH   SOLE   90,051 0 117,000
Regency Centers Corporation Common 758849103 12,558 181,527 SH   SOLE   78,827 0 102,700
Retail Opportunity Investments Corp. Common 76131N101 12,956 649,424 SH   SOLE   280,244 0 369,180
Rexford Industrial Realty, Inc. Common 76169C100 11,899 408,072 SH   SOLE   177,722 0 230,350
SAP AG ADR ADR 803054204 16,048 142,826 SH   SOLE   130,332 0 12,494
Simon Property Group, Inc. Common 828806109 42,321 246,427 SH   SOLE   106,967 0 139,460
SL Green Realty Corp. Common 78440X101 11,892 117,829 SH   SOLE   51,249 0 66,580
State Street Corp. Common 857477103 49,561 507,740 SH   SOLE   507,740 0 0
TAL Education Group, Class A, ADR ADR 874080104 46,383 1,561,180 SH   SOLE   1,561,180 0 0
Tarena International, Inc.,Class A, ADR ADR 876108101 65,171 4,347,615 SH   SOLE   4,347,615 0 0
Terreno Realty Corp. Common 88146M101 11,473 327,249 SH   SOLE   137,836 0 189,413
Texas Instruments, Inc. Common 882508104 527,314 5,048,968 SH   SOLE   4,950,273 0 98,695
The Priceline Group, Inc. Common 741503403 121,885 70,140 SH   SOLE   70,090 0 50
United Technologies Corp. Common 913017109 969,455 7,599,394 SH   SOLE   7,460,041 0 139,353
UnitedHealth Group, Inc. Common 91324P102 14,706 66,706 SH   SOLE   60,719 0 5,987
US Bancorp Common 902973304 80,976 1,511,316 SH   SOLE   1,506,049 0 5,267
Ventas, Inc. Common 92276F100 8,352 139,182 SH   SOLE   63,632 0 75,550
Vipshop Holdings Ltd. ADS ADR 92763W103 38,410 3,277,318 SH   SOLE   3,277,318 0 0
Visa, Inc., Class A Common 92826C839 79,766 699,583 SH   SOLE   699,583 0 0
Vornado Realty Trust Common 929042109 7,295 93,308 SH   SOLE   41,032 0 52,276
Wells Fargo & Co. Common 949746101 1,591,838 26,237,640 SH   SOLE   25,788,937 0 448,703
Welltower, Inc. Common 95040Q104 16,167 253,523 SH   SOLE   109,483 0 144,040
Weyerhaeuser Co. Common 962166104 11,196 317,539 SH   SOLE   141,109 0 176,430
Xilinx, Inc. Common 983919101 534 7,920 SH   SOLE   7,920 0 0
ZTO Express Cayman, Inc. ADR ADR 98980A105 63,862 4,029,153 SH   SOLE   3,990,233 0 38,920