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 8,487 386,457 SH   SOLE   177,977 0 208,480
Alexandria Real Estate Equities, Inc. Common 015271109 12,572 69,097 SH   SOLE   36,413 0 32,684
Alibaba Group Holding Ltd., ADR ADR 01609W102 990,189 4,366,296 SH   SOLE   4,314,108 0 52,188
Alleghany Corp. Common 017175100 54,153 81,180 SH   SOLE   81,180 0 0
Alphabet Inc., Class A Common 02079K305 650,732 266,498 SH   SOLE   261,737 0 4,761
Alphabet Inc., Class C Common 02079K107 1,140,192 454,927 SH   SOLE   446,406 0 8,521
Amazon.com, Inc. Common 023135106 1,129,401 328,299 SH   SOLE   322,388 0 5,911
American Campus Communities, Inc. Common 024835100 15,479 331,315 SH   SOLE   177,500 0 153,815
American Express Co. Common 025816109 812,500 4,917,390 SH   SOLE   4,827,321 0 90,069
American Homes 4 Rent, Class A Common 02665T306 10,047 258,620 SH   SOLE   136,310 0 122,310
American Tower Corp Class A Common 03027X100 5,468 20,240 SH   SOLE   10,740 0 9,500
Applied Materials, Inc. Common 038222105 1,282,508 9,006,379 SH   SOLE   8,799,666 0 206,713
AvalonBay Communities, Inc. Common 053484101 20,274 97,150 SH   SOLE   52,560 0 44,590
Baidu, Inc., Class A, ADR ADR 056752108 97,609 478,709 SH   SOLE   478,709 0 0
Bank of America Corp. Common 060505104 145,142 3,520,291 SH   SOLE   3,520,291 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208 147,423 4,158,609 SH   SOLE   4,158,609 0 0
Bank of New York Mellon Corp. Common 064058100 774,475 15,117,609 SH   SOLE   14,852,787 0 264,822
Berkshire Hathaway Inc., Class A Common 084670108 1,027,665 2,455 SH   SOLE   2,455 0 0
Berkshire Hathaway Inc., Class B Common 084670702 427,557 1,538,419 SH   SOLE   1,448,953 0 89,466
Boston Properties, Inc. Common 101121101 10,917 95,270 SH   SOLE   53,500 0 41,770
Brixmor Property Group, Inc. Common 11120U105 19,159 836,990 SH   SOLE   422,830 0 414,160
Camden Property Trust Common 133131102 8,168 61,570 SH   SOLE   37,980 0 23,590
Capital One Financial Corp. Common 14040H105 2,256,267 14,585,733 SH   SOLE   14,355,456 0 230,277
CarMax, Inc. Common 143130102 486 3,760 SH   SOLE   0 0 3,760
Carrier Global Corp. Common 14448C104 69,633 1,432,778 SH   SOLE   1,330,866 0 101,912
Charles Schwab Corp. Common 808513105 66,345 911,202 SH   SOLE   911,202 0 0
China Index Holdings Ltd., ADR ADR 16954W101 9,258 4,605,924 SH   SOLE   4,598,070 0 7,854
Chubb Ltd. Common H1467J104 296,209 1,863,653 SH   SOLE   1,837,539 0 26,114
Cigna Corp. Common 125523100 276,124 1,164,735 SH   SOLE   1,120,497 0 44,238
Clear Secure, Inc. Common 18467V109 20,000 500,000 SH   SOLE   500,000 0 0
Coresite Realty Corp. Common 21870Q105 6,387 47,455 SH   SOLE   24,150 0 23,305
Coupang, Inc., Class A Common 22266T109 168,264 4,023,541 SH   SOLE   3,935,905 0 87,636
Cousins Properties, Inc. Common 222795502 12,107 329,165 SH   SOLE   177,700 0 151,465
CVS Health Corp. Common 126650100 65,119 780,426 SH   SOLE   762,318 0 18,108
CyrusOne Inc. Common 23283R100 10,387 145,235 SH   SOLE   80,150 0 65,085
Darling Ingredients, Inc. Common 237266101 99,536 1,474,600 SH   SOLE   1,473,820 0 780
Davis Select Financial ETF ETF 23908L108 59,861 1,995,446 SH   SOLE   1,995,446 0 0
Davis Select International ETF ETF 23908L405 88,381 3,794,802 SH   SOLE   3,794,802 0 0
Davis Select U.S. Equity ETF ETF 23908L207 114,782 3,253,975 SH   SOLE   3,253,975 0 0
Davis Select Worldwide ETF ETF 23908L306 64,374 1,883,939 SH   SOLE   1,883,939 0 0
DiDi Global Inc., ADS ADR 23292E108 555,767 43,449,548 SH   SOLE   43,449,548 0 0
Digital Realty Trust, Inc. Common 253868103 13,866 92,155 SH   SOLE   50,315 0 41,840
Douglas Emmett, Inc. Common 25960P109 9,779 290,860 SH   SOLE   153,970 0 136,890
DXC Technology Co. Common 23355L106 2,624 67,379 SH   SOLE   67,379 0 0
Eaton Corp. PLC Common G29183103 32,626 220,177 SH   SOLE   198,950 0 21,227
Equinix, Inc. Common 29444U700 20,850 25,978 SH   SOLE   14,598 0 11,380
Equity Residential Common 29476L107 16,087 208,920 SH   SOLE   114,155 0 94,765
Essex Property Trust, Inc. Common 297178105 21,289 70,961 SH   SOLE   36,860 0 34,101
Everest Re Group, Ltd. Common G3223R108 15,099 59,915 SH   SOLE   59,915 0 0
Extra Space Storage Inc. Common 30225T102 10,412 63,560 SH   SOLE   35,290 0 28,270
Facebook, Inc, Class A Common 30303M102 1,108,896 3,189,141 SH   SOLE   3,135,370 0 53,771
Fang Holdings Ltd., Class A, ADR ADR 30711Y300 961 81,137 SH   SOLE   81,137 0 0
Federal Realty Investment Trust Common 313747206 11,453 97,750 SH   SOLE   49,590 0 48,160
Ferguson PLC Common G3421J106 18,923 135,797 SH   SOLE   119,362 0 16,435
Greenlight Capital Re, Ltd., Class A Common G4095J109 9,732 1,065,984 SH   SOLE   1,065,984 0 0
Healthcare Trust of America, Inc. Common 42225P501 4,708 176,320 SH   SOLE   92,220 0 84,100
Healthpeak Properties, Inc. Common 42250P103 10,372 311,556 SH   SOLE   166,180 0 145,376
Highwoods Properties, Inc. Common 431284108 7,992 176,940 SH   SOLE   91,280 0 85,660
Hollysys Automation Technologies, Ltd. Common G45667105 106,081 7,119,507 SH   SOLE   7,119,507 0 0
Host Hotels & Resorts, Inc. Common 44107P104 18,396 1,076,400 SH   SOLE   538,890 0 537,510
Hudson Pacific Properties, Inc. Common 444097109 14,999 539,160 SH   SOLE   277,960 0 261,200
Humana Inc. Common 444859102 20,286 45,822 SH   SOLE   41,743 0 4,079
IAC/InterActiveCorp. Common 44891N208 329,783 2,139,086 SH   SOLE   2,096,249 0 42,837
Intel Corp. Common 458140100 729,495 12,994,214 SH   SOLE   12,758,526 0 235,688
iQIYI, Inc., Class A, ADR ADR 46267X108 80,053 5,138,170 SH   SOLE   5,138,170 0 0
JD.com, Inc., Class A, ADR ADR 47215P106 267,910 3,356,852 SH   SOLE   3,356,852 0 0
Johnson Controls International PLC Common G51502105 38,261 557,494 SH   SOLE   511,730 0 45,764
JPMorgan Chase & Co. Common 46625H100 887,415 5,705,379 SH   SOLE   5,593,248 0 112,131
Lam Research Corp. Common 512807108 1,597 2,455 SH   SOLE   2,455 0 0
Liberty Global plc, Series C Common G5480U120 23,118 854,964 SH   SOLE   854,964 0 0
Liberty Media Corp., Series A Common 531229870 30,818 722,928 SH   SOLE   722,928 0 0
Liberty Media Corp., Series C Common 531229854 38,418 796,898 SH   SOLE   796,898 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102 1,226 301,274 SH   SOLE   301,274 0 0
Life Storage, Inc. Common 53223X107 11,962 111,430 SH   SOLE   57,990 0 53,440
Loews Corp. Common 540424108 143,897 2,633,059 SH   SOLE   2,597,964 0 35,095
M&T Bank Corp. Common 55261F104 20,887 143,743 SH   SOLE   143,743 0 0
Markel Corp. Common 570535104 266,797 224,821 SH   SOLE   221,271 0 3,550
Microsoft Corp. Common 594918104 123,742 456,782 SH   SOLE   436,622 0 20,160
Missfresh Ltd., Class B, ADS ADR 60500F105 49,016 6,211,241 SH   SOLE   6,211,241 0 0
New Oriental Education & Tech ADR ADR 647581107 871,067 106,357,379 SH   SOLE   104,915,774 0 1,441,605
Noah Holdings Ltd., Class A, ADS ADR 65487X102 45,171 957,006 SH   SOLE   957,006 0 0
Novartis AG - ADR ADR 66987V109 4,278 46,888 SH   SOLE   46,888 0 0
Oracle Corp. Common 68389X105 23,331 299,724 SH   SOLE   276,796 0 22,928
Owens Corning Common 690742101 68,341 698,066 SH   SOLE   637,835 0 60,231
PNC Financial Services Group, Inc. Common 693475105 101,751 533,400 SH   SOLE   533,400 0 0
Prologis, Inc. Common 74340W103 36,866 308,422 SH   SOLE   165,882 0 142,540
Public Storage, Inc. Common 74460D109 25,035 83,260 SH   SOLE   45,690 0 37,570
Quest Diagnostics, Inc. Common 74834L100 371,577 2,815,614 SH   SOLE   2,720,178 0 95,436
Quotient Technology, Inc. Common 749119103 41,339 3,824,167 SH   SOLE   3,660,083 0 164,084
Raytheon Technologies Corp. Common 75513E101 192,273 2,253,821 SH   SOLE   2,175,338 0 78,483
Retail Opportunity Investments Corp. Common 76131N101 9,000 509,615 SH   SOLE   229,435 0 280,180
Rexford Industrial Realty, Inc. Common 76169C100 18,790 329,930 SH   SOLE   174,810 0 155,120
Rocket Companies, Inc., Class A Common 77311W101 49,863 2,576,921 SH   SOLE   2,576,921 0 0
Ryman Hospitality Properties, Inc. Common 78377T107 2,680 33,940 SH   SOLE   17,610 0 16,330
SAP SE, ADR ADR 803054204 17,589 125,225 SH   SOLE   116,965 0 8,260
Simon Property Group, Inc. Common 828806109 19,513 149,550 SH   SOLE   82,050 0 67,500
Six Flags Entertainment Corp. Common 83001A102 1,724 39,830 SH   SOLE   39,830 0 0
SL Green Realty Corp. Common 78440X804 5,543 69,292 SH   SOLE   34,216 0 35,076
State Street Corp. Common 857477103 5,917 71,909 SH   SOLE   71,909 0 0
Sun Communities, Inc. Common 866674104 5,404 31,530 SH   SOLE   16,500 0 15,030
Sunstone Hotel Investors, Inc. Common 867892101 10,491 844,700 SH   SOLE   440,450 0 404,250
TAL Education Group ADR 874080104 90,406 3,583,276 SH   SOLE   3,583,276 0 0
Terreno Realty Corp. Common 88146M101 18,572 287,847 SH   SOLE   147,754 0 140,093
Texas Instruments, Inc. Common 882508104 636,893 3,311,977 SH   SOLE   3,230,647 0 81,330
Trip.com Group Ltd., ADR ADR 89677Q107 16,317 460,149 SH   SOLE   460,149 0 0
Truist Financial Corp. Common 89832Q109 2,866 51,632 SH   SOLE   51,632 0 0
UDR, Inc. Common 902653104 5,675 115,870 SH   SOLE   60,050 0 55,820
U.S. Bancorp Common 902973304 1,035,868 18,182,687 SH   SOLE   17,815,592 0 367,095
Ulta Beauty, Inc. Common 90384S303 1,065 3,080 SH   SOLE   3,080 0 0
UnitedHealth Group, Inc. Common 91324P102 78,086 195,000 SH   SOLE   178,089 0 16,911
Ventas, Inc. Common 92276F100 9,141 160,080 SH   SOLE   91,380 0 68,700
Viatris, Inc. Common 92556V106 599,040 41,920,221 SH   SOLE   41,009,803 0 910,418
VICI Properties, Inc. Common 925652109 4,744 152,930 SH   SOLE   79,310 0 73,620
Vimeo, Inc. Common 92719V100 169,970 3,468,766 SH   SOLE   3,399,935 0 68,831
VMware, Inc., Class A Common 928563402 12,494 78,104 SH   SOLE   72,770 0 5,334
Vornado Realty Trust Common 929042109 4,793 102,690 SH   SOLE   55,574 0 47,116
Vroom, Inc. Common 92918V109 297,434 7,105,437 SH   SOLE   6,966,541 0 138,896
Wells Fargo & Co. Common 949746101 1,851,144 40,873,138 SH   SOLE   40,146,127 0 727,011
Welltower Inc. Common 95040Q104 20,364 245,050 SH   SOLE   133,270 0 111,780