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   199,828,261 2,041,981 SH   SOLE   1,971,460 0 70,521
Alexandria Real Estate Equities, Inc. Common 015271109   16,869,269 142,057 SH   SOLE   77,663 0 64,394
Alibaba Group Holding Ltd., ADR ADR 01609W102   13,560,438 127,784 SH   SOLE   127,784 0 0
Alphabet Inc., Class A Common 02079K305   507,933,399 3,062,607 SH   SOLE   2,968,626 0 93,981
Alphabet Inc., Class C Common 02079K107   111,294,370 665,676 SH   SOLE   651,480 0 14,196
Amazon.com, Inc. Common 023135106   756,949,787 4,062,415 SH   SOLE   3,946,909 0 115,506
American Express Co. Common 025816109   77,983,125 287,548 SH   SOLE   286,007 0 1,541
American Homes 4 Rent - Class A Common 02665T306   8,372,475 218,090 SH   SOLE   126,690 0 91,400
American Tower Corp Common 03027X100   17,660,606 75,940 SH   SOLE   41,080 0 34,860
Applied Materials, Inc. Common 038222105   830,984,486 4,112,767 SH   SOLE   3,969,062 0 143,705
AvalonBay Communities, Inc. Common 053484101   12,751,403 56,610 SH   SOLE   31,380 0 25,230
Bank of America Corp. Common 060505104   46,413,180 1,169,687 SH   SOLE   1,169,687 0 0
Bank of N.T. Butterfield & Son Limited Common G0772R208   39,487,859 1,070,712 SH   SOLE   1,070,712 0 0
Bank of New York Mellon Corp. Common 064058100   385,670,854 5,366,975 SH   SOLE   5,240,736 0 126,239
Berkshire Hathaway Inc., Class A Common 084670108   1,117,638,060 1,617 SH   SOLE   1,617 0 0
Berkshire Hathaway Inc., Class B Common 084670702   343,798,111 746,965 SH   SOLE   682,587 0 64,378
Brixmor Property Group, Inc. Common 11120U105   13,776,491 494,490 SH   SOLE   287,370 0 207,120
BXP, Inc. Common 101121101   12,294,288 152,800 SH   SOLE   85,480 0 67,320
Camden Property Trust Common 133131102   8,624,865 69,820 SH   SOLE   41,790 0 28,030
Capital One Financial Corp. Common 14040H105   1,441,660,396 9,628,400 SH   SOLE   9,402,078 0 226,322
Charles Schwab Corp. Common 808513105   19,423,881 299,705 SH   SOLE   299,705 0 0
Chubb Ltd. Common H1467J104   339,820,375 1,178,336 SH   SOLE   1,150,702 0 27,634
Cigna Group Common 125523100   498,828,910 1,439,871 SH   SOLE   1,387,224 0 52,647
Clear Secure, Inc. Common 18467V109   19,638,333 592,587 SH   SOLE   567,451 0 25,136
Community Healthcare Trust, Inc. Common 20369C106   3,913,685 215,630 SH   SOLE   120,590 0 95,040
ConocoPhillips Common 20825C104   148,188,127 1,407,562 SH   SOLE   1,369,371 0 38,191
Coupang, Inc., Class A Common 22266T109   145,843,645 5,940,678 SH   SOLE   5,940,678 0 0
Cousins Properties, Inc. Common 222795502   18,278,042 620,015 SH   SOLE   339,560 0 280,455
Crown Castle, Inc. Common 22822V101   4,929,077 41,550 SH   SOLE   22,950 0 18,600
Crown Holdings, Inc. Common 228368106   821,692 8,570 SH   SOLE   8,570 0 0
CVS Health Corporation Common 126650100   23,109,155 367,512 SH   SOLE   327,164 0 40,348
Darling Ingredients Inc. Common 237266101   105,221,179 2,831,571 SH   SOLE   2,712,431 0 119,140
Davis Select Financial ETF ETF 23908L108   78,728,411 2,128,485 SH   SOLE   2,128,485 0 0
Davis Select International ETF ETF 23908L405   92,853,761 3,866,428 SH   SOLE   3,866,428 0 0
Davis Select U.S. Equity ETF ETF 23908L207   141,119,674 3,385,789 SH   SOLE   3,385,789 0 0
Davis Select Worldwide ETF ETF 23908L306   72,621,291 1,916,112 SH   SOLE   1,916,112 0 0
Digital Realty Trust, Inc. Common 253868103   16,373,150 101,175 SH   SOLE   56,805 0 44,370
Douglas Emmett, Inc Common 25960P109   2,190,803 124,690 SH   SOLE   70,450 0 54,240
Eastgroup Properties, Inc. Common 277276101   7,409,281 39,660 SH   SOLE   22,470 0 17,190
Equinix, Inc. Common 29444U700   17,156,113 19,328 SH   SOLE   11,128 0 8,200
Equity Residential Common 29476L107   7,528,278 101,105 SH   SOLE   59,440 0 41,665
Essex Property Trust, Inc. Common 297178105   9,882,094 33,451 SH   SOLE   19,640 0 13,811
Everest Group, Ltd. Common G3223R108   15,235,526 38,883 SH   SOLE   38,883 0 0
Extra Space Storage, Inc. Common 30225T102   11,080,784 61,495 SH   SOLE   34,990 0 26,505
Federal Realty Investment Trust Common 313745101   6,957,984 60,520 SH   SOLE   31,690 0 28,830
Fifth Third Bancorp Common 316773100   104,338,362 2,435,536 SH   SOLE   2,435,536 0 0
Healthpeak Properties, Inc. Common 42250P103   5,721,296 250,166 SH   SOLE   134,250 0 115,916
Highwoods Properties Inc. Common 431284108   5,264,421 157,100 SH   SOLE   82,220 0 74,880
Hudson Pacific Properties Inc. Common 444097109   5,798,250 1,213,023 SH   SOLE   685,270 0 527,753
Humana Inc. Common 444859102   731,529,084 2,309,557 SH   SOLE   2,241,231 0 68,326
IAC Inc. Common 44891N208   145,429,283 2,702,142 SH   SOLE   2,622,049 0 80,093
Intel Corp. Common 458140100   296,157,372 12,623,929 SH   SOLE   12,242,470 0 381,459
iShares S&P 500 Value Index Fund ETF 464287408   2,503,665 12,698 SH   SOLE   11,996 0 702
JD.com Inc., Class A, ADR ADR 47215P106   34,705,640 867,641 SH   SOLE   867,641 0 0
Johnson Controls International plc Common G51502105   35,985,351 463,669 SH   SOLE   418,491 0 45,178
JPMorgan Chase & Co. Common 46625H100   295,104,487 1,399,528 SH   SOLE   1,371,894 0 27,634
KE Holdings Inc., Class A, ADR ADR 482497104   117,081,312 5,880,528 SH   SOLE   5,880,528 0 0
Lam Research Corp. Common 512807108   1,002,146 1,228 SH   SOLE   1,228 0 0
Liberty Formula One, Series A Common 531229771   685,973 9,590 SH   SOLE   9,590 0 0
Loews Corp. Common 540424108   47,844,459 605,243 SH   SOLE   605,243 0 0
M & T Bank Corp Common 55261F104   8,650,398 48,565 SH   SOLE   48,565 0 0
Markel Group, Inc Common 570535104   454,260,768 289,600 SH   SOLE   280,599 0 9,001
Meta Platforms, Inc., Class A Common 30303M102   1,554,109,096 2,714,886 SH   SOLE   2,655,447 0 59,439
MGM Resorts International Common 552953101   744,206,991 19,038,296 SH   SOLE   18,609,150 0 429,146
Microsoft Corp. Common 594918104   111,077,642 258,140 SH   SOLE   241,132 0 17,008
Mid-America Apartment Communities, Inc. Common 59522J103   5,666,374 35,660 SH   SOLE   20,020 0 15,640
Noah Holdings Ltd., Class A, ADS ADR 65487X102   20,544,851 1,666,249 SH   SOLE   1,666,249 0 0
Oracle Corporation Common 68389X105   23,560,867 138,268 SH   SOLE   123,928 0 14,340
Owens Corning Common 690742101   380,099,633 2,153,295 SH   SOLE   2,059,893 0 93,402
PNC Financial Services Group, Inc. Common 693475105   92,745,900 501,736 SH   SOLE   501,736 0 0
Prologis, Inc. Common 74340W103   31,171,713 246,846 SH   SOLE   140,189 0 106,657
Public Storage, Inc. Common 74460D109   19,838,192 54,520 SH   SOLE   30,420 0 24,100
Quest Diagnostics Inc. Common 74834L100   372,460,741 2,399,103 SH   SOLE   2,297,191 0 101,912
Regency Centers Corporation Common 758849103   8,643,042 119,660 SH   SOLE   66,360 0 53,300
RenaissanceRe Holdings Ltd Common G7496G103   38,466,694 141,214 SH   SOLE   141,214 0 0
Retail Opportunity Investments Corp. Common 76131N101   4,169,315 265,055 SH   SOLE   134,915 0 130,140
Rexford Industrial Realty, Inc. Common 76169C100   10,527,368 209,250 SH   SOLE   116,510 0 92,740
RH Common 74967X103   749,123 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   60,712,535 3,163,759 SH   SOLE   3,163,759 0 0
SAP SE - ADR ADR 803054204   22,762,231 99,355 SH   SOLE   89,924 0 9,431
Sea Ltd., Class A, ADR ADR 81141R100   61,190,360 649,028 SH   SOLE   649,028 0 0
Simon Property Group, Inc. Common 828806109   14,126,692 83,580 SH   SOLE   49,440 0 34,140
Skechers U.S.A., Inc., Class A Common 830566105   401,520 6,000 SH   SOLE   6,000 0 0
Solventum Corp. Common 83444M101   367,529,886 5,271,513 SH   SOLE   5,108,501 0 163,012
State Street Corp. Common 857477103   5,379,772 60,809 SH   SOLE   60,809 0 0
Sun Communities, Inc. Common 866674104   3,527,415 26,100 SH   SOLE   13,710 0 12,390
Sunstone Hotel Investors, Inc. Common 867892101   8,337,218 807,870 SH   SOLE   469,980 0 337,890
Teck Resources Ltd., Class B Common 878742204   595,061,191 11,390,911 SH   SOLE   11,048,972 0 341,939
Terreno Realty Corp. Common 88146M101   6,832,499 102,237 SH   SOLE   53,574 0 48,663
Texas Instruments, Inc. Common 882508104   487,703,837 2,360,962 SH   SOLE   2,274,973 0 85,989
Trip.com Group Ltd., ADR ADR 89677Q107   222,673,632 3,746,822 SH   SOLE   3,746,822 0 0
Truist Financial Corp. Common 89832Q109   5,869,669 137,238 SH   SOLE   137,238 0 0
Tyson Foods Inc Common 902494103   185,325,526 3,111,577 SH   SOLE   3,020,215 0 91,362
U.S. Bancorp Common 902973304   658,191,569 14,392,993 SH   SOLE   14,002,868 0 390,125
UDR, Inc. Common 902653104   8,946,489 197,320 SH   SOLE   106,380 0 90,940
UnitedHealth Group Inc. Common 91324P102   29,895,858 51,132 SH   SOLE   45,078 0 6,054
Ventas, Inc. Common 92276F100   18,035,280 281,230 SH   SOLE   163,500 0 117,730
Viatris Inc. Common 92556V106   727,334,758 62,647,266 SH   SOLE   60,501,647 0 2,145,619
VICI Properties, Inc. Common 925652109   4,869,589 146,190 SH   SOLE   88,800 0 57,390
Wells Fargo & Co. Common 949746101   805,729,673 14,263,227 SH   SOLE   13,846,401 0 416,826
Welltower, Inc. Common 95040Q104   3,807,612 29,740 SH   SOLE   17,600 0 12,140
Wesco International, Inc. Common 95082P105   43,006,240 256,020 SH   SOLE   226,000 0 30,020