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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGCO Corporation Common 001084102   183,593,978 1,512,163 SH   SOLE   1,470,237 0 41,926
Alexandria Real Estate Equities, Inc. Common 015271109   18,251,964 143,977 SH   SOLE   78,893 0 65,084
Alibaba Group Holding Ltd ADR 01609W102   14,115,656 182,114 SH   SOLE   182,114 0 0
Alphabet Inc., Class A Common 02079K305   492,054,320 3,522,043 SH   SOLE   3,433,262 0 88,781
Alphabet Inc., Class C Common 02079K107   98,565,315 699,392 SH   SOLE   686,536 0 12,856
Amazon.com, Inc. Common 023135106   1,065,695,740 7,013,917 SH   SOLE   6,859,879 0 154,038
American Express Co. Common 025816109   169,261,408 903,491 SH   SOLE   888,947 0 14,544
American Homes 4 Rent, Class A Common 02665T306   9,139,594 254,160 SH   SOLE   142,210 0 111,950
American Tower Corp Class A Common 03027X100   12,562,057 58,190 SH   SOLE   31,440 0 26,750
Applied Materials, Inc. Common 038222105   962,250,097 5,937,245 SH   SOLE   5,772,648 0 164,597
AvalonBay Communities, Inc. Common 053484101   13,858,024 74,020 SH   SOLE   39,990 0 34,030
Baidu, Inc., Class A, ADR ADR 056752108   5,520,655 46,357 SH   SOLE   46,357 0 0
Bank of America Corp. Common 060505104   40,923,966 1,215,443 SH   SOLE   1,215,443 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208   55,264,644 1,726,478 SH   SOLE   1,726,478 0 0
Bank of New York Mellon Corp. Common 064058100   655,953,690 12,602,375 SH   SOLE   12,323,648 0 278,727
Berkshire Hathaway Inc., Class A Common 084670108   1,021,762,931 1,883 SH   SOLE   1,883 0 0
Berkshire Hathaway Inc., Class B Common 084670702   391,915,540 1,098,843 SH   SOLE   1,032,270 0 66,573
Boston Properties, Inc. Common 101121101   11,040,548 157,340 SH   SOLE   86,470 0 70,870
Brixmor Property Group, Inc. Common 11120U105   16,554,976 711,430 SH   SOLE   394,550 0 316,880
Camden Property Trust Common 133131102   4,457,128 44,890 SH   SOLE   27,870 0 17,020
Capital One Financial Corp. Common 14040H105   1,428,109,854 10,891,619 SH   SOLE   10,645,733 0 245,886
Carrier Global Corp. Common 14448C104   29,566,779 514,650 SH   SOLE   475,094 0 39,556
Charles Schwab Corp. Common 808513105   21,432,782 311,523 SH   SOLE   311,523 0 0
Chubb Ltd. Common H1467J104   316,375,528 1,399,886 SH   SOLE   1,372,434 0 27,452
The Cigna Group Common 125523100   495,077,420 1,653,283 SH   SOLE   1,602,583 0 50,700
Clear Secure, Inc. Common 18467V109   13,412,495 649,513 SH   SOLE   631,275 0 18,238
Community Healthcare Trust, Inc. Common 20369C106   5,943,384 223,100 SH   SOLE   123,030 0 100,070
Coupang, Inc., Class A Common 22266T109   99,489,063 6,145,093 SH   SOLE   6,145,093 0 0
Cousins Properties, Inc. Common 222795502   16,900,239 694,055 SH   SOLE   375,410 0 318,645
Crown Castle International Corp. Common 22822V101   4,901,335 42,550 SH   SOLE   23,420 0 19,130
CubeSmart Common 229663109   3,339,054 72,040 SH   SOLE   41,010 0 31,030
CVS Health Corp. Common 126650100   16,298,564 206,414 SH   SOLE   190,696 0 15,718
Darling Ingredients, Inc. Common 237266101   153,298,945 3,075,812 SH   SOLE   2,983,754 0 92,058
Davis Select Financial ETF ETF 23908L108   64,716,736 2,138,178 SH   SOLE   2,138,178 0 0
Davis Select International ETF ETF 23908L405   72,578,608 3,916,775 SH   SOLE   3,916,775 0 0
Davis Select U.S. Equity ETF ETF 23908L207   119,532,829 3,390,041 SH   SOLE   3,390,041 0 0
Davis Select Worldwide ETF ETF 23908L306   57,847,987 1,953,004 SH   SOLE   1,953,004 0 0
Digital Realty Trust, Inc. Common 253868103   13,948,544 103,645 SH   SOLE   56,935 0 46,710
Douglas Emmett, Inc. Common 25960P109   3,771,450 260,100 SH   SOLE   144,800 0 115,300
Eaton Corp. PLC Common G29183103   35,025,453 145,440 SH   SOLE   134,178 0 11,262
Equinix, Inc. Common 29444U700   14,374,601 17,848 SH   SOLE   9,938 0 7,910
Equity Residential Common 29476L107   8,863,001 144,915 SH   SOLE   81,000 0 63,915
Essex Property Trust, Inc. Common 297178105   13,822,903 55,751 SH   SOLE   31,300 0 24,451
Everest Re Group, Ltd. Common G3223R108   14,837,278 41,963 SH   SOLE   41,963 0 0
Extra Space Storage, Inc. Common 30225T102   6,617,621 41,275 SH   SOLE   23,420 0 17,855
Federal Realty Investment Trust Common 313745101   6,417,954 62,280 SH   SOLE   31,930 0 30,350
Ferguson PLC Common G3421J106   39,805,802 206,170 SH   SOLE   192,191 0 13,979
Fifth Third Bancorp Common 316773100   86,310,018 2,502,465 SH   SOLE   2,502,465 0 0
Healthpeak Properties, Inc. Common 42250P103   5,583,521 281,996 SH   SOLE   136,980 0 145,016
Highwoods Properties, Inc. Common 431284108   3,730,770 162,490 SH   SOLE   83,650 0 78,840
Hollysys Automation Technologies, Ltd. Common G45667105   138,291,130 5,248,240 SH   SOLE   5,248,240 0 0
Hudson Pacific Properties, Inc. Common 444097109   6,457,816 693,643 SH   SOLE   388,480 0 305,163
Humana Inc. Common 444859102   19,944,248 43,563 SH   SOLE   39,736 0 3,827
IAC Inc. Common 44891N208   152,450,119 2,910,455 SH   SOLE   2,844,576 0 65,879
Intel Corp. Common 458140100   454,047,231 9,035,759 SH   SOLE   8,800,267 0 235,492
iShares S&P 500 Value Index Fund ETF 464287408   24,265,480 139,545 SH   SOLE   107,993 0 31,552
JD.com, Inc., Class A, ADR ADR 47215P106   129,717,171 4,490,036 SH   SOLE   4,490,036 0 0
Johnson Controls International PLC Common G51502105   29,726,343 515,723 SH   SOLE   479,187 0 36,536
JPMorgan Chase & Co. Common 46625H100   679,249,671 3,993,234 SH   SOLE   3,897,507 0 95,727
KE Holdings, Inc ADR 482497104   76,369,733 4,711,272 SH   SOLE   4,711,272 0 0
Lam Research Corp. Common 512807108   961,843 1,228 SH   SOLE   1,228 0 0
Liberty Formula One, Series A Common 531229771   28,311,655 488,300 SH   SOLE   488,300 0 0
Liberty Formula One, Series C Common 531229755   16,275,040 257,802 SH   SOLE   257,802 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102   201,521 237,084 SH   SOLE   237,084 0 0
Loews Corp. Common 540424108   100,967,880 1,450,893 SH   SOLE   1,432,371 0 18,522
M&T Bank Corp. Common 55261F104   6,769,696 49,385 SH   SOLE   49,385 0 0
Markel Corp. Common 570535104   426,849,496 300,604 SH   SOLE   292,470 0 8,134
Masterbrand, Inc. Common 57638P104   29,705,719 2,000,385 SH   SOLE   1,833,062 0 167,323
Meta Platforms, Inc., Class A Common 30303M102   1,400,855,406 3,957,652 SH   SOLE   3,887,619 0 70,033
MGM Resorts International Common 552953101   461,638,915 10,332,109 SH   SOLE   10,153,203 0 178,906
Microsoft Corp. Common 594918104   125,401,797 333,476 SH   SOLE   316,878 0 16,598
Noah Holdings Ltd., Class A, ADS ADR 65487X102   10,688,860 773,993 SH   SOLE   773,993 0 0
Oracle Corp. Common 68389X105   19,186,735 181,985 SH   SOLE   168,129 0 13,856
Owens Corning Common 690742101   398,119,765 2,685,808 SH   SOLE   2,593,144 0 92,664
PNC Financial Services Group, Inc. Common 693475105   77,852,076 502,758 SH   SOLE   502,758 0 0
Prologis, Inc. Common 74340W103   25,406,447 190,596 SH   SOLE   102,859 0 87,737
Public Storage, Inc. Common 74460D109   16,619,450 54,490 SH   SOLE   29,230 0 25,260
Quest Diagnostics, Inc. Common 74834L100   367,667,954 2,666,564 SH   SOLE   2,573,929 0 92,635
Regency Centers Corp. Common 758849103   8,233,630 122,890 SH   SOLE   66,770 0 56,120
Retail Opportunity Investments Corp. Common 76131N101   8,035,753 572,755 SH   SOLE   304,635 0 268,120
Rexford Industrial Realty, Inc. Common 76169C100   8,935,608 159,280 SH   SOLE   88,300 0 70,980
RH Common 74967X103   652,915 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   47,531,512 3,282,563 SH   SOLE   3,282,563 0 0
SAP SE, ADR ADR 803054204   21,544,955 139,367 SH   SOLE   129,779 0 9,588
Simon Property Group, Inc. Common 828806109   15,872,979 111,280 SH   SOLE   63,020 0 48,260
Skechers U.S.A, Inc. Class A Common 830566105   773,016 12,400 SH   SOLE   12,400 0 0
SL Green Realty Corp. Common 78440X887   3,856,615 85,380 SH   SOLE   46,870 0 38,510
State Street Corp. Common 857477103   4,281,447 55,273 SH   SOLE   55,273 0 0
Sun Communities, Inc. Common 866674104   6,599,637 49,380 SH   SOLE   26,330 0 23,050
Sunstone Hotel Investors, Inc. Common 867892101   9,080,584 846,280 SH   SOLE   473,920 0 372,360
Teck Resources Ltd., Class B Common 878742204   539,766,528 12,769,491 SH   SOLE   12,460,083 0 309,408
Terreno Realty Corp. Common 88146M101   12,530,052 199,937 SH   SOLE   105,964 0 93,973
Texas Instruments, Inc. Common 882508104   451,845,628 2,650,737 SH   SOLE   2,572,401 0 78,336
Truist Financial Corp. Common 89832Q109   5,330,362 144,376 SH   SOLE   144,376 0 0
UDR, Inc. Common 902653104   7,840,260 204,760 SH   SOLE   109,010 0 95,750
U.S. Bancorp Common 902973304   661,594,256 15,286,371 SH   SOLE   14,956,256 0 330,115
UnitedHealth Group, Inc. Common 91324P102   57,033,494 108,331 SH   SOLE   99,449 0 8,882
Ventas, Inc. Common 92276F100   14,483,006 290,590 SH   SOLE   166,640 0 123,950
Viatris, Inc. Common 92556V106   678,626,527 62,661,728 SH   SOLE   61,054,564 0 1,607,164
VICI Properties, Inc. Common 925652109   4,852,136 152,200 SH   SOLE   88,960 0 63,240
Wells Fargo & Co. Common 949746101   1,444,852,797 29,354,991 SH   SOLE   28,777,367 0 577,624
Welltower Inc. Common 95040Q104   12,114,340 134,350 SH   SOLE   77,140 0 57,210
Wesco International, Inc. Common 95082P105   32,577,568 187,354 SH   SOLE   172,525 0 14,829