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
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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   186,152,052 1,991,357 SH   SOLE   1,931,989 0 59,368
Alexandria Real Estate Equities, Inc. Common 015271109   14,651,717 150,197 SH   SOLE   83,103 0 67,094
Alphabet Inc., Class A Common 02079K305   570,872,789 3,015,704 SH   SOLE   2,925,781 0 89,923
Alphabet Inc., Class C Common 02079K107   123,206,301 646,956 SH   SOLE   632,591 0 14,365
Amazon.com, Inc. Common 023135106   835,345,415 3,807,582 SH   SOLE   3,710,850 0 96,732
American Express Co. Common 025816109   81,465,934 274,490 SH   SOLE   272,945 0 1,545
American Homes 4 Rent - Class A Common 02665T306   8,107,791 216,670 SH   SOLE   126,690 0 89,980
American Tower Corp Common 03027X100   16,420,697 89,530 SH   SOLE   51,040 0 38,490
Applied Materials, Inc. Common 038222105   766,347,819 4,712,217 SH   SOLE   4,557,107 0 155,110
AvalonBay Communities, Inc. Common 053484101   12,366,713 56,220 SH   SOLE   31,380 0 24,840
Bank of America Corp. Common 060505104   51,440,618 1,170,435 SH   SOLE   1,170,435 0 0
Bank of N.T. Butterfield & Son Limited Common G0772R208   39,343,297 1,076,424 SH   SOLE   1,076,424 0 0
Bank of New York Mellon Corp. Common 064058100   164,183,732 2,136,974 SH   SOLE   2,124,912 0 12,062
Berkshire Hathaway Inc., Class A Common 084670108   1,077,215,440 1,582 SH   SOLE   1,582 0 0
Berkshire Hathaway Inc., Class B Common 084670702   325,234,293 717,513 SH   SOLE   655,339 0 62,174
Brixmor Property Group, Inc. Common 11120U105   13,676,957 491,270 SH   SOLE   287,370 0 203,900
BXP, Inc. Common 101121101   11,362,208 152,800 SH   SOLE   85,480 0 67,320
Camden Property Trust Common 133131102   8,050,855 69,380 SH   SOLE   41,790 0 27,590
Capital One Financial Corp. Common 14040H105   1,649,289,777 9,249,045 SH   SOLE   9,042,295 0 206,750
Charles Schwab Corp. Common 808513105   22,207,145 300,056 SH   SOLE   300,056 0 0
Chubb Ltd. Common H1467J104   302,548,928 1,095,002 SH   SOLE   1,069,509 0 25,493
Cigna Group Common 125523100   395,376,148 1,431,796 SH   SOLE   1,380,422 0 51,374
Clear Secure, Inc. Common 18467V109   15,442,835 579,686 SH   SOLE   553,987 0 25,699
Community Healthcare Trust, Inc. Common 20369C106   4,142,252 215,630 SH   SOLE   120,590 0 95,040
ConocoPhillips Common 20825C104   135,939,559 1,370,773 SH   SOLE   1,338,989 0 31,784
Coupang, Inc., Class A Common 22266T109   129,943,232 5,911,885 SH   SOLE   5,911,885 0 0
Cousins Properties, Inc. Common 222795502   15,449,148 504,215 SH   SOLE   291,320 0 212,895
Crown Castle, Inc. Common 22822V101   3,744,758 41,260 SH   SOLE   22,950 0 18,310
Crown Holdings, Inc. Common 228368106   708,653 8,570 SH   SOLE   8,570 0 0
CVS Health Corporation Common 126650100   511,115,296 11,385,950 SH   SOLE   11,060,700 0 325,250
Darling Ingredients Inc. Common 237266101   80,123,175 2,378,248 SH   SOLE   2,275,450 0 102,798
Davis Select Financial ETF ETF 23908L108   81,103,714 2,129,265 SH   SOLE   2,129,265 0 0
Davis Select International ETF ETF 23908L405   84,503,644 3,869,214 SH   SOLE   3,869,214 0 0
Davis Select U.S. Equity ETF ETF 23908L207   142,622,229 3,386,897 SH   SOLE   3,386,897 0 0
Davis Select Worldwide ETF ETF 23908L306   69,641,862 1,917,980 SH   SOLE   1,917,980 0 0
Digital Realty Trust, Inc. Common 253868103   16,074,078 90,645 SH   SOLE   51,305 0 39,340
Douglas Emmett, Inc Common 25960P109   2,314,246 124,690 SH   SOLE   70,450 0 54,240
Eastgroup Properties, Inc. Common 277276101   7,132,176 44,440 SH   SOLE   25,360 0 19,080
Equinix, Inc. Common 29444U700   18,101,602 19,198 SH   SOLE   11,128 0 8,070
Equity Residential Common 29476L107   7,208,651 100,455 SH   SOLE   59,440 0 41,015
Essex Property Trust, Inc. Common 297178105   9,488,311 33,241 SH   SOLE   19,640 0 13,601
Everest Group, Ltd. Common G3223R108   14,212,782 39,212 SH   SOLE   39,212 0 0
Extra Space Storage, Inc. Common 30225T102   9,138,316 61,085 SH   SOLE   34,990 0 26,095
Federal Realty Investment Trust Common 313745101   6,724,837 60,070 SH   SOLE   31,690 0 28,380
Fifth Third Bancorp Common 316773100   103,339,761 2,444,176 SH   SOLE   2,444,176 0 0
Full Truck Alliance Co. Ltd. ADR 35969L108   58,432,230 5,400,391 SH   SOLE   5,400,391 0 0
Healthpeak Properties, Inc. Common 42250P103   5,034,379 248,366 SH   SOLE   134,250 0 114,116
Highwoods Properties Inc. Common 431284108   3,976,929 130,050 SH   SOLE   68,340 0 61,710
Hudson Pacific Properties Inc. Common 444097109   6,911,318 2,280,963 SH   SOLE   1,301,580 0 979,383
Humana Inc. Common 444859102   572,600,383 2,256,909 SH   SOLE   2,196,569 0 60,340
IAC Inc. Common 44891N208   113,700,820 2,635,624 SH   SOLE   2,566,519 0 69,105
Intel Corp. Common 458140100   51,480,699 2,567,616 SH   SOLE   2,557,567 0 10,049
iShares S&P 500 Value Index Fund ETF 464287408   37,636,764 197,175 SH   SOLE   158,252 0 38,923
JD.com Inc., Class A, ADR ADR 47215P106   12,336,730 355,833 SH   SOLE   355,833 0 0
Johnson Controls International plc Common G51502105   31,850,939 403,534 SH   SOLE   360,021 0 43,513
JPMorgan Chase & Co. Common 46625H100   157,662,764 657,723 SH   SOLE   654,124 0 3,599
KE Holdings Inc., Class A, ADR ADR 482497104   67,193,802 3,647,872 SH   SOLE   3,647,872 0 0
Lam Research Corp. Common 512807306   886,984 12,280 SH   SOLE   12,280 0 0
Loews Corp. Common 540424108   51,338,824 606,197 SH   SOLE   606,197 0 0
M & T Bank Corp Common 55261F104   9,339,961 49,678 SH   SOLE   49,678 0 0
Markel Group, Inc Common 570535104   639,606,192 370,522 SH   SOLE   360,103 0 10,419
Meta Platforms, Inc., Class A Common 30303M102   1,459,440,487 2,492,597 SH   SOLE   2,437,894 0 54,703
MGM Resorts International Common 552953101   690,252,706 19,920,713 SH   SOLE   19,442,748 0 477,965
Microsoft Corp. Common 594918104   107,478,707 254,991 SH   SOLE   238,355 0 16,636
Mid-America Apartment Communities, Inc. Common 59522J103   5,511,966 35,660 SH   SOLE   20,020 0 15,640
NetEase Inc. - ADR ADR 64110W102   53,286,918 597,320 SH   SOLE   597,320 0 0
Noah Holdings Ltd., Class A, ADS ADR 65487X102   19,505,301 1,665,696 SH   SOLE   1,665,696 0 0
Oracle Corporation Common 68389X105   22,864,675 137,210 SH   SOLE   122,819 0 14,391
Owens Corning Common 690742101   308,494,314 1,811,263 SH   SOLE   1,724,829 0 86,434
PNC Financial Services Group, Inc. Common 693475105   96,739,153 501,629 SH   SOLE   501,629 0 0
Prologis, Inc. Common 74340W103   18,930,447 179,096 SH   SOLE   104,799 0 74,297
Public Storage, Inc. ETF 74460D109   14,998,950 50,090 SH   SOLE   27,480 0 22,610
Quest Diagnostics Inc. ETF 74834L100   361,650,643 2,397,260 SH   SOLE   2,292,542 0 104,718
Regency Centers Corporation Common 758849103   8,785,102 118,830 SH   SOLE   66,360 0 52,470
RenaissanceRe Holdings Ltd Common G7496G103   35,408,898 142,313 SH   SOLE   142,313 0 0
Rexford Industrial Realty, Inc. Common 76169C100   13,128,549 339,590 SH   SOLE   191,730 0 147,860
RH Common 74967X103   881,642 2,240 SH   SOLE   2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101   35,704,773 3,170,939 SH   SOLE   3,170,939 0 0
SAP SE - ADR ADR 803054204   24,002,274 97,487 SH   SOLE   87,916 0 9,571
Sea Ltd., Class A, ADR ADR 81141R100   67,693,286 638,014 SH   SOLE   638,014 0 0
Simon Property Group, Inc. Common 828806109   13,900,791 80,720 SH   SOLE   47,110 0 33,610
Skechers U.S.A., Inc., Class A Common 830566105   403,440 6,000 SH   SOLE   6,000 0 0
Solventum Corp. Common 83444M101   346,591,321 5,246,614 SH   SOLE   5,084,823 0 161,791
State Street Corp. Common 857477103   6,194,345 63,111 SH   SOLE   63,111 0 0
Sunstone Hotel Investors, Inc. Common 867892101   9,503,021 802,620 SH   SOLE   469,980 0 332,640
Teck Resources Ltd., Class B Common 878742204   457,941,175 11,298,820 SH   SOLE   10,961,202 0 337,618
Terreno Realty Corp. Common 88146M101   6,001,350 101,477 SH   SOLE   53,574 0 47,903
Texas Instruments, Inc. Common 882508104   440,665,311 2,350,090 SH   SOLE   2,266,489 0 83,601
Trip.com Group Ltd., ADR ADR 89677Q107   257,280,075 3,747,161 SH   SOLE   3,747,161 0 0
Truist Financial Corp. Common 89832Q109   6,306,541 145,379 SH   SOLE   145,379 0 0
Tyson Foods Inc Common 902494103   176,954,604 3,080,686 SH   SOLE   2,993,912 0 86,774
U.S. Bancorp Common 902973304   687,562,915 14,375,139 SH   SOLE   13,981,279 0 393,860
UDR, Inc. Common 902653104   8,504,453 195,910 SH   SOLE   106,380 0 89,530
UnitedHealth Group Inc. Common 91324P102   25,857,034 51,115 SH   SOLE   45,123 0 5,992
Ventas, Inc. Common 92276F100   14,825,558 251,750 SH   SOLE   148,130 0 103,620
Viatris Inc. Common 92556V106   779,040,847 62,573,562 SH   SOLE   62,519,682 0 53,880
VICI Properties, Inc. Common 925652109   4,244,213 145,300 SH   SOLE   88,800 0 56,500
Wells Fargo & Co. Common 949746101   606,525,961 8,635,051 SH   SOLE   8,421,371 0 213,680
Welltower, Inc. Common 95040Q104   3,724,187 29,550 SH   SOLE   17,600 0 11,950
Wesco International, Inc. Common 95082P105   46,504,368 256,987 SH   SOLE   226,601 0 30,386