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   132,885,118 1,357,633 SH   SOLE   1,314,557 0 43,076
Alexandria Real Estate Equities, Inc. Common 015271109   0 141,587 SH   SOLE   76,943 0 64,644
Alibaba Group Holding Ltd., ADR ADR 01609W102   12,233,376 169,908 SH   SOLE   169,908 0 0
Alphabet Inc., Class A Common 02079K305   560,006,575 3,074,425 SH   SOLE   2,984,189 0 90,236
Alphabet Inc., Class C Common 02079K107   123,890,489 675,447 SH   SOLE   662,132 0 13,315
Amazon.com, Inc. Common 023135106   1,105,456,478 5,720,344 SH   SOLE   5,566,516 0 153,828
American Express Co. Common 025816109   84,238,536 363,803 SH   SOLE   362,266 0 1,537
American Homes 4 Rent - Class A Common 02665T306   0 222,270 SH   SOLE   126,690 0 95,580
American Tower Corp Common 03027X100   0 76,070 SH   SOLE   41,080 0 34,990
Applied Materials, Inc. Common 038222105   987,836,266 4,185,924 SH   SOLE   4,048,217 0 137,707
AvalonBay Communities, Inc. Common 053484101   0 57,770 SH   SOLE   31,380 0 26,390
Baidu, Inc. Class A, ADR ADR 056752108   4,050,810 46,841 SH   SOLE   46,841 0 0
Bank of America Corp. Common 060505104   47,360,860 1,190,869 SH   SOLE   1,190,869 0 0
Bank of N.T. Butterfield & Son Limited Common G0772R208   37,941,541 1,080,340 SH   SOLE   1,080,340 0 0
Bank of New York Mellon Corp. Common 064058100   446,234,852 7,450,908 SH   SOLE   7,276,655 0 174,253
Berkshire Hathaway Inc., Class A Common 084670108   1,121,013,271 1,831 SH   SOLE   1,831 0 0
Berkshire Hathaway Inc., Class B Common 084670702   329,574,309 810,163 SH   SOLE   743,076 0 67,087
Boston Properties, Inc. Common 101121101   0 154,730 SH   SOLE   84,330 0 70,400
Brixmor Property Group, Inc. Common 11120U105   0 503,980 SH   SOLE   287,370 0 216,610
Camden Property Trust Common 133131102   0 70,430 SH   SOLE   41,790 0 28,640
Capital One Financial Corp. Common 14040H105   1,334,034,443 9,635,496 SH   SOLE   9,414,358 0 221,138
Charles Schwab Corp. Common 808513105   22,459,901 304,789 SH   SOLE   304,789 0 0
Chubb Ltd. Common H1467J104   320,594,770 1,256,840 SH   SOLE   1,229,631 0 27,209
Cigna Group Common 125523100   478,046,863 1,446,129 SH   SOLE   1,394,434 0 51,695
Clear Secure, Inc. Common 18467V109   11,034,484 589,764 SH   SOLE   565,959 0 23,805
Community Healthcare Trust, Inc. Common 20369C106   0 219,990 SH   SOLE   120,590 0 99,400
ConocoPhillips Common 20825C104   43,461,083 379,971 SH   SOLE   379,105 0 866
Coupang, Inc., Class A Common 22266T109   125,172,940 5,974,842 SH   SOLE   5,974,842 0 0
Cousins Properties, Inc. Common 222795502   0 682,525 SH   SOLE   366,010 0 316,515
Crown Castle, Inc. Common 22822V101   0 41,950 SH   SOLE   22,950 0 19,000
Crown Holdings, Inc. Common 228368106   637,522 8,570 SH   SOLE   8,570 0 0
CVS Health Corporation Common 126650100   21,544,025 364,782 SH   SOLE   326,929 0 37,853
Darling Ingredients Inc. Common 237266101   104,286,137 2,837,718 SH   SOLE   2,723,993 0 113,725
Davis Select Financial ETF ETF 23908L108   70,685,356 2,128,485 SH   SOLE   2,128,485 0 0
Davis Select International ETF ETF 23908L405   76,908,114 3,866,428 SH   SOLE   3,866,428 0 0
Davis Select U.S. Equity ETF ETF 23908L207   137,530,738 3,385,789 SH   SOLE   3,385,789 0 0
Davis Select Worldwide ETF ETF 23908L306   63,894,663 1,916,112 SH   SOLE   1,916,112 0 0
Digital Realty Trust, Inc. Common 253868103   0 101,905 SH   SOLE   55,505 0 46,400
Douglas Emmett, Inc Common 25960P109   0 127,180 SH   SOLE   70,450 0 56,730
Equinix, Inc. Common 29444U700   0 17,258 SH   SOLE   9,748 0 7,510
Equity Residential Common 29476L107   0 103,015 SH   SOLE   59,440 0 43,575
Essex Property Trust, Inc. Common 297178105   0 46,271 SH   SOLE   26,300 0 19,971
Everest Group, Ltd. Common G3223R108   15,579,527 40,889 SH   SOLE   40,889 0 0
Extra Space Storage, Inc. Common 30225T102   0 61,595 SH   SOLE   34,990 0 26,605
Federal Realty Investment Trust Common 313745101   0 61,320 SH   SOLE   31,170 0 30,150
Fifth Third Bancorp Common 316773100   90,425,103 2,478,079 SH   SOLE   2,478,079 0 0
Healthpeak Properties, Inc. Common 42250P103   0 255,476 SH   SOLE   134,250 0 121,226
Highwoods Properties Inc. Common 431284108   0 160,530 SH   SOLE   82,220 0 78,310
Hollysys Automation Technologies Ltd. Common G45667105   4,777,268 220,761 SH   SOLE   220,761 0 0
Hudson Pacific Properties Inc. Common 444097109   0 1,224,493 SH   SOLE   685,270 0 539,223
Humana Inc. Common 444859102   863,640,411 2,311,362 SH   SOLE   2,246,128 0 65,234
IAC Inc. Common 44891N208   126,692,098 2,704,207 SH   SOLE   2,627,862 0 76,345
Intel Corp. Common 458140100   391,532,520 12,642,316 SH   SOLE   12,269,731 0 372,585
iShares S&P 500 Value Index Fund ETF 464287408   4,310,179 23,681 SH   SOLE   20,553 0 3,128
JD.com Inc., Class A, ADR ADR 47215P106   111,238,926 4,304,912 SH   SOLE   4,304,912 0 0
Johnson Controls International plc Common G51502105   29,223,004 439,642 SH   SOLE   397,965 0 41,677
JPMorgan Chase & Co. Common 46625H100   374,050,139 1,849,353 SH   SOLE   1,810,326 0 39,027
KE Holdings Inc., Class A, ADR ADR 482497104   84,832,504 5,995,230 SH   SOLE   5,995,230 0 0
Lam Research Corp. Common 512807108   1,307,636 1,228 SH   SOLE   1,228 0 0
Liberty Formula One, Series A Common 531229771   22,985,412 357,861 SH   SOLE   357,861 0 0
Loews Corp. Common 540424108   46,851,442 626,859 SH   SOLE   626,859 0 0
M & T Bank Corp Common 55261F104   7,302,666 48,247 SH   SOLE   48,247 0 0
Markel Group, Inc Common 570535104   452,310,535 287,061 SH   SOLE   278,521 0 8,540
Masterbrand, Inc. Common 57638P104   12,089,068 823,506 SH   SOLE   729,240 0 94,266
Meta Platforms, Inc., Class A Common 30303M102   1,542,669,707 3,059,517 SH   SOLE   3,001,704 0 57,813
MGM Resorts International Common 552953101   529,349,682 11,911,559 SH   SOLE   11,653,716 0 257,843
Microsoft Corp. Common 594918104   115,367,628 258,122 SH   SOLE   241,455 0 16,667
Mid-America Apartment Communities, Inc. Common 59522J103   0 24,080 SH   SOLE   13,300 0 10,780
Noah Holdings Ltd., Class A, ADS ADR 65487X102   16,227,922 1,681,650 SH   SOLE   1,681,650 0 0
Oracle Corporation Common 68389X105   19,504,238 138,132 SH   SOLE   124,357 0 13,775
Owens Corning Common 690742101   395,339,642 2,275,729 SH   SOLE   2,186,322 0 89,407
PNC Financial Services Group, Inc. Common 693475105   79,350,773 510,360 SH   SOLE   510,360 0 0
Prologis, Inc. Common 74340W103   0 236,886 SH   SOLE   131,879 0 105,007
Public Storage, Inc. Common 74460D109   0 55,620 SH   SOLE   30,420 0 25,200
Quest Diagnostics Inc. Common 74834L100   327,256,537 2,390,828 SH   SOLE   2,293,074 0 97,754
Regency Centers Corporation Common 758849103   0 121,200 SH   SOLE   65,460 0 55,740
Retail Opportunity Investments Corp. Common 76131N101   0 499,455 SH   SOLE   263,435 0 236,020
Rexford Industrial Realty, Inc. Common 76169C100   0 209,610 SH   SOLE   116,510 0 93,100
RH Common 74967X103   547,546 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   44,081,243 3,217,609 SH   SOLE   3,217,609 0 0
SAP SE - ADR ADR 803054204   19,930,360 98,807 SH   SOLE   89,921 0 8,886
Sea Ltd., Class A, ADR ADR 81141R100   46,588,409 652,316 SH   SOLE   652,316 0 0
Simon Property Group, Inc. Common 828806109   0 85,140 SH   SOLE   49,440 0 35,700
Skechers U.S.A., Inc., Class A Common 830566105   517,709 7,490 SH   SOLE   7,490 0 0
Solventum Corp. Common 83444M101   273,069,940 5,163,955 SH   SOLE   5,007,326 0 156,629
State Street Corp. Common 857477103   4,063,858 54,917 SH   SOLE   54,917 0 0
Sun Communities, Inc. Common 866674104   0 26,670 SH   SOLE   13,710 0 12,960
Sunstone Hotel Investors, Inc. Common 867892101   0 815,490 SH   SOLE   462,120 0 353,370
Teck Resources Ltd., Class B Common 878742204   552,318,614 11,530,660 SH   SOLE   11,200,619 0 330,041
Terreno Realty Corp. Common 88146M101   0 158,467 SH   SOLE   83,294 0 75,173
Texas Instruments, Inc. Common 882508104   459,342,432 2,361,294 SH   SOLE   2,276,500 0 84,794
Truist Financial Corp. Common 89832Q109   5,241,331 134,912 SH   SOLE   134,912 0 0
Tyson Foods Inc Common 902494103   177,438,556 3,105,330 SH   SOLE   3,017,959 0 87,371
U.S. Bancorp Common 902973304   564,869,245 14,228,444 SH   SOLE   13,847,145 0 381,299
UDR, Inc. Common 902653104   0 201,490 SH   SOLE   106,380 0 95,110
UnitedHealth Group Inc. Common 91324P102   45,982,613 90,293 SH   SOLE   80,520 0 9,773
Ventas, Inc. Common 92276F100   0 285,660 SH   SOLE   162,540 0 123,120
Viatris Inc. Common 92556V106   611,607,181 57,535,953 SH   SOLE   55,567,344 0 1,968,609
VICI Properties, Inc. Common 925652109   0 147,340 SH   SOLE   87,320 0 60,020
Wells Fargo & Co. Common 949746101   911,644,000 15,350,126 SH   SOLE   14,899,759 0 450,367
Welltower, Inc. Common 95040Q104   0 96,500 SH   SOLE   57,050 0 39,450
Wesco International, Inc. Common 95082P105   30,696,764 193,646 SH   SOLE   175,426 0 18,220