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
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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   186,158,822 1,804,564 SH   SOLE   1,730,899 0 73,665
Alexandria Real Estate Equities, Inc. Common 015271109   11,343,862 156,187 SH   SOLE   82,813 0 73,374
Alphabet Inc., Class A Common 02079K305   503,033,259 2,854,413 SH   SOLE   2,752,631 0 101,782
Alphabet Inc., Class C Common 02079K107   115,372,682 650,390 SH   SOLE   635,127 0 15,263
Amazon.com, Inc. Common 023135106   717,221,231 3,269,161 SH   SOLE   3,169,389 0 99,772
American Express Co. Common 025816109   86,284,092 270,500 SH   SOLE   268,947 0 1,553
American Homes 4 Rent - Class A Common 02665T306   9,030,485 250,360 SH   SOLE   141,040 0 109,320
American Tower Corp Common 03027X100   20,256,483 91,650 SH   SOLE   50,850 0 40,800
ANGI Inc., Class A Common 00183L201   18,035,962 1,181,911 SH   SOLE   1,142,154 0 39,757
Apple Inc. Common 037833100   259,540 1,265 SH   SOLE   1,265 0 0
Applied Materials, Inc. Common 038222105   907,586,623 4,957,593 SH   SOLE   4,785,682 0 171,911
AppLovin Corp., Class A Common 03831W108   75,292,756 215,073 SH   SOLE   207,771 0 7,302
AvalonBay Communities, Inc. Common 053484101   11,766,370 57,820 SH   SOLE   31,290 0 26,530
Bank of America Corp. Common 060505104   54,578,746 1,153,397 SH   SOLE   1,153,397 0 0
Bank of N.T. Butterfield & Son Limited Common G0772R208   47,037,050 1,062,264 SH   SOLE   1,062,264 0 0
Bank of New York Mellon Corp. Common 064058100   172,965,937 1,898,430 SH   SOLE   1,888,330 0 10,100
Berkshire Hathaway Inc., Class A Common 084670108   776,172,000 1,065 SH   SOLE   1,065 0 0
Berkshire Hathaway Inc., Class B Common 084670702   269,041,285 553,845 SH   SOLE   500,771 0 53,074
Brixmor Property Group, Inc. Common 11120U105   12,978,076 498,390 SH   SOLE   286,460 0 211,930
BXP, Inc. Common 101121101   14,143,736 209,630 SH   SOLE   116,350 0 93,280
Camden Property Trust Common 133131102   8,863,069 78,650 SH   SOLE   46,360 0 32,290
Capital One Financial Corp. Common 14040H105   1,905,423,658 8,955,742 SH   SOLE   8,773,137 0 182,605
Charles Schwab Corp. Common 808513105   27,047,003 296,438 SH   SOLE   296,438 0 0
Chubb Ltd. Common H1467J104   310,528,656 1,071,823 SH   SOLE   1,045,345 0 26,478
Cigna Group Common 125523100   216,823,786 655,889 SH   SOLE   624,002 0 31,887
Community Healthcare Trust, Inc. Common 20369C106   5,525,816 332,280 SH   SOLE   170,520 0 161,760
ConocoPhillips Common 20825C104   142,290,578 1,585,587 SH   SOLE   1,528,842 0 56,745
COPT Defense Properties Common 22002T108   4,067,774 147,490 SH   SOLE   76,140 0 71,350
Coterra Energy, Inc. Common 127097103   237,002,019 9,338,141 SH   SOLE   9,031,177 0 306,964
Coupang, Inc., Class A Common 22266T109   172,419,740 5,754,998 SH   SOLE   5,754,998 0 0
Cousins Properties, Inc. Common 222795502   13,820,857 460,235 SH   SOLE   259,740 0 200,495
Crown Castle, Inc. Common 22822V101   4,345,479 42,300 SH   SOLE   22,890 0 19,410
Crown Holdings, Inc. Common 228368106   882,539 8,570 SH   SOLE   8,570 0 0
CVS Health Corporation Common 126650100   799,256,774 11,586,790 SH   SOLE   11,191,332 0 395,458
Darling Ingredients Inc. Common 237266101   92,709,046 2,443,570 SH   SOLE   2,312,523 0 131,047
Davis Select Financial ETF ETF 23908L108   91,456,200 2,129,860 SH   SOLE   2,129,860 0 0
Davis Select International ETF ETF 23908L405   100,597,480 3,890,080 SH   SOLE   3,890,080 0 0
Davis Select U.S. Equity ETF ETF 23908L207   156,580,879 3,383,338 SH   SOLE   3,383,338 0 0
Davis Select Worldwide ETF ETF 23908L306   79,411,504 1,916,287 SH   SOLE   1,916,287 0 0
Digital Realty Trust, Inc. Common 253868103   11,934,632 68,460 SH   SOLE   38,440 0 30,020
Douglas Emmett, Inc Common 25960P109   4,162,320 276,750 SH   SOLE   152,610 0 124,140
Eastgroup Properties, Inc. Common 277276101   7,709,246 46,130 SH   SOLE   25,270 0 20,860
Equinix, Inc. Common 29444U700   12,459,447 15,663 SH   SOLE   9,093 0 6,570
Equity Residential Common 29476L107   6,865,420 101,725 SH   SOLE   59,250 0 42,475
Essex Property Trust, Inc. Common 297178105   8,088,519 28,541 SH   SOLE   16,600 0 11,941
Everest Group, Ltd. Common G3223R108   13,424,075 39,500 SH   SOLE   39,500 0 0
Extra Space Storage, Inc. Common 30225T102   8,369,432 56,765 SH   SOLE   34,890 0 21,875
Exxon Mobil Corp. Common 30231G102   222,715 2,066 SH   SOLE   2,066 0 0
Fifth Third Bancorp Common 316773100   103,353,767 2,512,856 SH   SOLE   2,512,856 0 0
Full Truck Alliance Co. Ltd. ADR 35969L108   137,420,274 11,635,925 SH   SOLE   11,635,925 0 0
Healthpeak Properties, Inc. Common 42250P103   6,814,647 389,186 SH   SOLE   210,520 0 178,666
Hudson Pacific Properties Inc. Common 444097109   6,290,966 2,295,973 SH   SOLE   1,297,080 0 998,893
Humana Inc. Common 444859102   404,060,408 1,652,734 SH   SOLE   1,598,031 0 54,703
IAC Inc. Common 44891N208   85,164,138 2,280,775 SH   SOLE   2,192,636 0 88,139
iShares S&P 500 Value Index Fund ETF 464287408   2,145,321 10,978 SH   SOLE   10,477 0 501
JD.com Inc., Class A, ADR ADR 47215P106   11,211,416 343,487 SH   SOLE   343,487 0 0
Johnson Controls International plc Common G51502105   25,911,015 245,323 SH   SOLE   221,667 0 23,656
JPMorgan Chase & Co. Common 46625H100   184,394,966 636,042 SH   SOLE   632,836 0 3,206
KE Holdings Inc., Class A, ADR ADR 482497104   32,868,885 1,852,812 SH   SOLE   1,852,812 0 0
Lam Research Corp. Common 512807306   1,195,335 12,280 SH   SOLE   12,280 0 0
Loews Corp. Common 540424108   54,752,459 597,343 SH   SOLE   597,343 0 0
M & T Bank Corp Common 55261F104   9,883,403 50,948 SH   SOLE   50,948 0 0
Markel Group, Inc Common 570535104   741,282,215 371,131 SH   SOLE   359,866 0 11,265
Meta Platforms, Inc., Class A Common 30303M102   1,555,756,802 2,107,814 SH   SOLE   2,053,750 0 54,064
MGM Resorts International Common 552953101   819,207,939 23,821,109 SH   SOLE   23,134,026 0 687,083
Microsoft Corp. Common 594918104   123,335,794 247,956 SH   SOLE   229,483 0 18,473
Mid-America Apartment Communities, Inc. Common 59522J103   7,851,931 53,050 SH   SOLE   29,030 0 24,020
NetEase Inc. - ADR ADR 64110W102   79,852,639 593,347 SH   SOLE   593,347 0 0
NetSTREIT Corp. Common 64119V303   3,733,234 220,510 SH   SOLE   122,840 0 97,670
Noah Holdings Ltd., Class A, ADS ADR 65487X102   12,197,725 1,021,585 SH   SOLE   1,021,585 0 0
NVIDIA Corp. Common 67066G104   14,082,438 89,135 SH   SOLE   78,647 0 10,488
Oracle Corporation Common 68389X105   28,766,024 131,574 SH   SOLE   116,667 0 14,907
Owens Corning Common 690742101   243,285,670 1,769,093 SH   SOLE   1,686,166 0 82,927
PNC Financial Services Group, Inc. Common 693475105   93,649,392 502,357 SH   SOLE   502,357 0 0
Prologis, Inc. Common 74340W103   13,584,237 129,226 SH   SOLE   74,469 0 54,757
Public Storage, Inc. Common 74460D109   11,854,168 40,400 SH   SOLE   21,460 0 18,940
Quest Diagnostics Inc. Common 74834L100   243,294,465 1,354,420 SH   SOLE   1,272,888 0 81,532
Realty Income Corp. Common 756109104   2,815,401 48,870 SH   SOLE   0 0 48,870
Regency Centers Corporation Common 758849103   8,677,951 121,830 SH   SOLE   66,210 0 55,620
RenaissanceRe Holdings Ltd Common G7496G103   34,750,974 143,067 SH   SOLE   143,067 0 0
Restaurant Brands International, Inc. Common 76131D103   226,692,908 3,419,715 SH   SOLE   3,348,158 0 71,557
Rexford Industrial Realty, Inc. Common 76169C100   13,339,106 375,010 SH   SOLE   203,460 0 171,550
RH Common 74967X103   423,382 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   44,421,374 3,132,678 SH   SOLE   3,132,678 0 0
SAP SE - ADR ADR 803054204   14,222,453 46,769 SH   SOLE   41,864 0 4,905
Sea Ltd., Class A, ADR ADR 81141R100   71,701,902 448,305 SH   SOLE   448,305 0 0
Simon Property Group, Inc. Common 828806109   9,440,309 58,723 SH   SOLE   34,603 0 24,120
Solventum Corp. Common 83444M101   416,563,410 5,492,661 SH   SOLE   5,301,291 0 191,370
State Street Corp. Common 857477103   7,683,171 72,251 SH   SOLE   72,251 0 0
Sun Communities, Inc. Common 866674104   4,853,421 38,370 SH   SOLE   21,500 0 16,870
Sunstone Hotel Investors, Inc. Common 867892101   10,029,566 1,155,480 SH   SOLE   686,260 0 469,220
Taiwan Semiconductor Manufacturing Common 874039100   1,630,728 7,200 SH   SOLE   7,200 0 0
Teck Resources Ltd., Class B Common 878742204   445,593,017 11,034,993 SH   SOLE   10,646,755 0 388,238
Terreno Realty Corp. Common 88146M101   5,842,326 104,197 SH   SOLE   53,414 0 50,783
Texas Instruments, Inc. Common 882508104   494,178,489 2,380,207 SH   SOLE   2,286,354 0 93,853
Trip.com Group Ltd., ADR ADR 89677Q107   290,236,804 4,949,468 SH   SOLE   4,949,468 0 0
Truist Financial Corp. Common 89832Q109   6,699,777 155,845 SH   SOLE   155,845 0 0
Tyson Foods Inc Common 902494103   501,024,708 8,956,466 SH   SOLE   8,672,141 0 284,325
U.S. Bancorp Common 902973304   874,756,569 19,331,637 SH   SOLE   18,756,313 0 575,324
UDR, Inc. Common 902653104   6,614,052 161,990 SH   SOLE   85,890 0 76,100
UnitedHealth Group Inc. Common 91324P102   353,426,134 1,132,885 SH   SOLE   1,100,654 0 32,231
Vale S.A., ADR ADR 91912E105   28,630,071 2,948,514 SH   SOLE   2,948,514 0 0
Ventas, Inc. Common 92276F100   12,841,553 203,350 SH   SOLE   120,990 0 82,360
Viatris Inc. Common 92556V106   592,733,394 66,375,520 SH   SOLE   63,774,660 0 2,600,860
VICI Properties, Inc. Common 925652109   5,533,524 169,740 SH   SOLE   88,590 0 81,150
Wells Fargo & Co. Common 949746101   655,095,014 8,176,423 SH   SOLE   7,987,636 0 188,787
Wesco International, Inc. Common 95082P105   53,846,159 290,746 SH   SOLE   254,929 0 35,817