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
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGCO Corporation Common 001084102 187,664,014 2,027,266 SH SOLE 1,958,396 0 68,870
Alexandria Real Estate Equities, Inc. Common 015271109 13,998,336 151,317 SH SOLE 82,883 0 68,434
Alphabet Inc., Class A Common 02079K305 470,025,669 3,039,483 SH SOLE 2,945,914 0 93,569
Alphabet Inc., Class C Common 02079K107 101,033,472 646,697 SH SOLE 632,003 0 14,694
Amazon.com, Inc. Common 023135106 669,706,448 3,519,954 SH SOLE 3,422,493 0 97,461
American Express Co. Common 025816109 73,029,574 271,435 SH SOLE 269,883 0 1,552
American Homes 4 Rent - Class A Common 02665T306 9,192,367 243,120 SH SOLE 141,150 0 101,970
American Tower Corp Common 03027X100 19,353,344 88,940 SH SOLE 50,880 0 38,060
Applied Materials, Inc. Common 038222105 724,609,092 4,993,172 SH SOLE 4,822,852 0 170,320
AppLovin Corp., Class A Common 03831W108 43,193,025 163,011 SH SOLE 155,913 0 7,098
AvalonBay Communities, Inc. Common 053484101 12,158,223 56,650 SH SOLE 31,320 0 25,330
Bank of America Corp. Common 060505104 48,246,056 1,156,148 SH SOLE 1,156,148 0 0
Bank of N.T. Butterfield & Son Limited Common G0772R208 41,583,724 1,068,441 SH SOLE 1,068,441 0 0
Bank of New York Mellon Corp. Common 064058100 160,245,770 1,910,645 SH SOLE 1,899,241 0 11,404
Berkshire Hathaway Inc., Class A Common 084670108 1,243,972,013 1,558 SH SOLE 1,558 0 0
Berkshire Hathaway Inc., Class B Common 084670702 361,330,499 678,453 SH SOLE 619,645 0 58,808
Brixmor Property Group, Inc. Common 11120U105 12,859,758 484,360 SH SOLE 286,680 0 197,680
BXP, Inc. Common 101121101 13,669,134 203,440 SH SOLE 116,440 0 87,000
Camden Property Trust Common 133131102 9,357,173 76,510 SH SOLE 46,390 0 30,120
Capital One Financial Corp. Common 14040H105 1,613,602,008 8,999,453 SH SOLE 8,828,862 0 170,591
Charles Schwab Corp. Common 808513105 23,296,598 297,606 SH SOLE 297,606 0 0
Chubb Ltd. Common H1467J104 328,078,675 1,086,389 SH SOLE 1,062,102 0 24,287
Cigna Group Common 125523100 471,539,579 1,433,251 SH SOLE 1,381,504 0 51,747
Clear Secure, Inc. Common 18467V109 15,071,614 581,691 SH SOLE 553,862 0 27,829
Community Healthcare Trust, Inc. Common 20369C106 5,479,598 301,740 SH SOLE 171,070 0 130,670
ConocoPhillips Common 20825C104 147,245,181 1,402,068 SH SOLE 1,366,406 0 35,662
Coupang, Inc., Class A Common 22266T109 128,970,111 5,880,990 SH SOLE 5,880,990 0 0
Cousins Properties, Inc. Common 222795502 13,184,583 446,935 SH SOLE 259,930 0 187,005
Crown Castle, Inc. Common 22822V101 4,273,430 41,000 SH SOLE 22,900 0 18,100
Crown Holdings, Inc. Common 228368106 764,958 8,570 SH SOLE 8,570 0 0
CVS Health Corporation Common 126650100 782,448,612 11,549,057 SH SOLE 11,193,921 0 355,136
Darling Ingredients Inc. Common 237266101 77,364,891 2,476,469 SH SOLE 2,352,753 0 123,716
Davis Select Financial ETF ETF 23908L108 83,660,911 2,129,860 SH SOLE 2,129,860 0 0
Davis Select International ETF ETF 23908L405 89,899,759 3,890,080 SH SOLE 3,890,080 0 0
Davis Select U.S. Equity ETF ETF 23908L207 143,182,860 3,383,338 SH SOLE 3,383,338 0 0
Davis Select Worldwide ETF ETF 23908L306 72,224,959 1,916,287 SH SOLE 1,916,287 0 0
Digital Realty Trust, Inc. Common 253868103 9,619,058 67,130 SH SOLE 38,470 0 28,660
Douglas Emmett, Inc Common 25960P109 4,301,120 268,820 SH SOLE 153,030 0 115,790
Eastgroup Properties, Inc. Common 277276101 7,882,713 44,750 SH SOLE 25,290 0 19,460
Equinix, Inc. Common 29444U700 12,534,376 15,373 SH SOLE 9,103 0 6,270
Equity Residential Common 29476L107 7,147,621 99,855 SH SOLE 59,300 0 40,555
Essex Property Trust, Inc. Common 297178105 8,501,493 27,731 SH SOLE 16,600 0 11,131
Everest Group, Ltd. Common G3223R108 14,410,394 39,662 SH SOLE 39,662 0 0
Extra Space Storage, Inc. Common 30225T102 8,432,005 56,785 SH SOLE 34,910 0 21,875
Federal Realty Investment Trust Common 313745101 3,221,213 32,930 SH SOLE 18,060 0 14,870
Fifth Third Bancorp Common 316773100 96,475,865 2,461,119 SH SOLE 2,461,119 0 0
Full Truck Alliance Co. Ltd. ADR 35969L108 99,853,023 7,819,344 SH SOLE 7,819,344 0 0
Healthpeak Properties, Inc. Common 42250P103 4,990,417 246,806 SH SOLE 133,970 0 112,836
Highwoods Properties Inc. Common 431284108 3,828,895 129,180 SH SOLE 68,160 0 61,020
Hudson Pacific Properties Inc. Common 444097109 6,776,041 2,296,963 SH SOLE 1,298,070 0 998,893
Humana Inc. Common 444859102 616,873,358 2,331,343 SH SOLE 2,259,647 0 71,696
IAC Inc. Common 44891N208 122,098,505 2,657,782 SH SOLE 2,577,754 0 80,028
Intel Corp. Common 458140100 242,609 10,683 SH SOLE 968 0 9,715
iShares S&P 500 Value Index Fund ETF 464287408 3,756,713 19,712 SH SOLE 16,866 0 2,846
JD.com Inc., Class A, ADR ADR 47215P106 14,205,356 345,461 SH SOLE 345,461 0 0
Johnson Controls International plc Common G51502105 32,377,578 404,164 SH SOLE 360,813 0 43,351
JPMorgan Chase & Co. Common 46625H100 156,955,598 639,852 SH SOLE 636,244 0 3,608
KE Holdings Inc., Class A, ADR ADR 482497104 37,378,008 1,860,528 SH SOLE 1,860,528 0 0
Lam Research Corp. Common 512807306 892,756 12,280 SH SOLE 12,280 0 0
Loews Corp. Common 540424108 55,060,156 599,066 SH SOLE 599,066 0 0
M & T Bank Corp Common 55261F104 9,149,319 51,185 SH SOLE 51,185 0 0
Markel Group, Inc Common 570535104 694,502,157 371,469 SH SOLE 361,035 0 10,434
Meta Platforms, Inc., Class A Common 30303M102 1,273,899,708 2,210,250 SH SOLE 2,158,148 0 52,102
MGM Resorts International Common 552953101 616,958,290 20,815,057 SH SOLE 20,228,132 0 586,925
Microsoft Corp. Common 594918104 96,296,169 256,523 SH SOLE 239,598 0 16,925
Mid-America Apartment Communities, Inc. Common 59522J103 8,621,991 51,450 SH SOLE 29,050 0 22,400
NetEase Inc. - ADR ADR 64110W102 61,352,053 596,114 SH SOLE 596,114 0 0
NetSTREIT Corp. Common 64119V303 1,822,116 114,960 SH SOLE 65,820 0 49,140
Noah Holdings Ltd., Class A, ADS ADR 65487X102 15,638,021 1,654,817 SH SOLE 1,654,817 0 0
Oracle Corporation Common 68389X105 19,067,288 136,380 SH SOLE 121,837 0 14,543
Owens Corning Common 690742101 255,253,902 1,787,242 SH SOLE 1,709,038 0 78,204
PNC Financial Services Group, Inc. Common 693475105 87,148,172 495,808 SH SOLE 495,808 0 0
Prologis, Inc. Common 74340W103 19,200,603 171,756 SH SOLE 101,159 0 70,597
Public Storage, Inc. Common 74460D109 14,892,670 49,760 SH SOLE 27,400 0 22,360
Quest Diagnostics Inc. Common 74834L100 404,100,698 2,388,302 SH SOLE 2,284,122 0 104,180
Regency Centers Corporation Common 758849103 8,714,006 118,140 SH SOLE 66,260 0 51,880
RenaissanceRe Holdings Ltd Common G7496G103 34,512,240 143,801 SH SOLE 143,801 0 0
Restaurant Brands International, Inc. Common 76131D103 224,744,133 3,372,511 SH SOLE 3,309,121 0 63,390
Rexford Industrial Realty, Inc. Common 76169C100 14,235,723 363,620 SH SOLE 203,610 0 160,010
RH Common 74967X103 525,078 2,240 SH SOLE 2,240 0 0
Rocket Companies, Inc., Class A Common 77311W101 37,891,218 3,139,289 SH SOLE 3,139,289 0 0
SAP SE - ADR ADR 803054204 20,435,263 76,126 SH SOLE 68,163 0 7,963
Sea Ltd., Class A, ADR ADR 81141R100 67,153,808 514,628 SH SOLE 514,628 0 0
Simon Property Group, Inc. Common 828806109 11,298,921 68,033 SH SOLE 40,353 0 27,680
Skechers U.S.A., Inc., Class A Common 830566105 340,680 6,000 SH SOLE 6,000 0 0
Solventum Corp. Common 83444M101 402,110,014 5,288,138 SH SOLE 5,125,899 0 162,239
State Street Corp. Common 857477103 6,509,189 72,704 SH SOLE 72,704 0 0
Sun Communities, Inc. Common 866674104 3,221,146 25,040 SH SOLE 14,460 0 10,580
Sunstone Hotel Investors, Inc. Common 867892101 7,450,179 791,730 SH SOLE 469,230 0 322,500
Teck Resources Ltd., Class B Common 878742204 407,674,578 11,190,628 SH SOLE 10,830,013 0 360,615
Terreno Realty Corp. Common 88146M101 6,374,283 100,827 SH SOLE 53,454 0 47,373
Texas Instruments, Inc. Common 882508104 436,857,041 2,431,035 SH SOLE 2,340,440 0 90,595
Trip.com Group Ltd., ADR ADR 89677Q107 309,189,350 4,862,997 SH SOLE 4,862,997 0 0
Truist Financial Corp. Common 89832Q109 6,437,136 156,431 SH SOLE 156,431 0 0
Tyson Foods Inc Common 902494103 298,604,128 4,679,582 SH SOLE 4,573,605 0 105,977
U.S. Bancorp Common 902973304 628,614,167 14,889,014 SH SOLE 14,481,128 0 407,886
UDR, Inc. Common 902653104 7,164,414 158,610 SH SOLE 85,950 0 72,660
UnitedHealth Group Inc. Common 91324P102 25,411,827 48,519 SH SOLE 42,492 0 6,027
Vale S.A., ADR ADR 91912E105 27,280,459 2,733,513 SH SOLE 2,733,513 0 0
Ventas, Inc. Common 92276F100 17,203,064 250,190 SH SOLE 147,730 0 102,460
Viatris Inc. Common 92556V106 565,699,135 64,948,236 SH SOLE 62,570,471 0 2,377,765
VICI Properties, Inc. Common 925652109 4,679,013 143,440 SH SOLE 88,660 0 54,780
Wells Fargo & Co. Common 949746101 607,964,158 8,468,647 SH SOLE 8,269,884 0 198,763
Wesco International, Inc. Common 95082P105 40,145,516 258,503 SH SOLE 227,545 0 30,958