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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
58.com Inc ADR ADR 31680Q104 1,359 20,606 SH   SOLE   20,606 0 0
Acadia Realty Trust Common 004239109 20,771 626,576 SH   SOLE   292,526 0 334,050
Ace Limited Common H0023R105 284,726 2,436,683 SH   SOLE   2,404,056 0 32,627
Advanced Auto Parts, Inc. Common 00751Y106 113,439 753,700 SH   SOLE   737,314 0 16,386
AES Trust III,6.75%,10/15/29 Preferred 00808N202 7,263 145,027 SH   SOLE   145,027 0 0
Agilent Technologies, Inc. Common 00846U101 2,965 70,920 SH   SOLE   63,282 0 7,638
Air Products & Chemicals, Inc. Common 009158106 233 1,793 SH   SOLE   0 0 1,793
Alexander & Baldwin, Inc. Common 014491104 8,608 243,771 SH   SOLE   243,771 0 0
Alexandria Real Estate Equities, Inc. Common 015271109 8,589 95,055 SH   SOLE   42,671 0 52,384
Allegheny Technologies, Inc. Common 01741R102 9,264 823,469 SH   SOLE   823,469 0 0
Google Inc. Class A Common 02079K305 734,031 943,472 SH   SOLE   924,609 0 18,863
Google Inc. Class C Common 02079K107 1,060,238 1,397,109 SH   SOLE   1,375,849 0 21,260
Amazon.Com, Inc. Common 023135106 1,894,616 2,803,142 SH   SOLE   2,758,490 0 44,652
American Campus Communities Inc. Common 024835100 21,190 512,567 SH   SOLE   194,423 0 318,144
American Express Co. Common 025816109 1,063,038 15,284,520 SH   SOLE   15,060,751 0 223,769
American Homes 4 Rent, Class A Common 02665T306 9,321 559,469 SH   SOLE   196,539 0 362,930
American International Group Inc. Common 026874784 26,117 421,440 SH   SOLE   421,440 0 0
American Residential Properties, Inc. Common 02927E303 18,511 979,396 SH   SOLE   416,796 0 562,600
Angie's List Inc. Common 034754101 31,214 3,338,351 SH   SOLE   3,003,294 0 335,057
Apache Corporation Common 037411105 591,460 13,300,208 SH   SOLE   13,188,053 0 112,155
Apartment Investment & Management Common 03748R101 8,299 207,320 SH   SOLE   83,240 0 124,080
Apple Inc. Common 037833100 346 3,290 SH   SOLE   3,290 0 0
Applied Materials, Inc. Common 038222105 6,546 350,610 SH   SOLE   311,032 0 39,578
Avalonbay Communities, Inc. Common 053484101 15,809 85,856 SH   SOLE   39,306 0 46,550
Baidu, Inc. Class A, ADR ADR 056752108 10,434 55,197 SH   SOLE   55,197 0 0
Bank of America Corp. Common 060505104 12,184 723,936 SH   SOLE   723,936 0 0
Bank of New York Mellon Corp. Common 064058100 933,899 22,656,464 SH   SOLE   22,236,299 0 420,165
Banner Corporation Common 06652V208 23,682 529,640 SH   SOLE   529,640 0 0
Berkshire Hathaway Inc., Class A Common 084670108 874,078 4,419 SH   SOLE   4,415 0 4
Berkshire Hathaway Inc., Class B Common 084670702 182,130 1,379,351 SH   SOLE   1,249,633 0 129,718
Biomed Realty Trust, Inc. Common 09063H107 4,595 193,950 SH   SOLE   193,950 0 0
Boardwalk Pipeline Partners Partnership 096627104 287 22,090 SH   SOLE   22,090 0 0
Boston Properties, Inc. Common 101121101 33,209 260,379 SH   SOLE   107,869 0 152,510
Brixmor Property Group, Inc. Common 11120U105 12,558 486,367 SH   SOLE   212,217 0 274,150
Brookfield Asset Management Inc., Class A Foreign 112585104 21,543 683,245 SH   SOLE   683,245 0 0
Cable One, Inc. Common 12685J105 14,787 34,098 SH   SOLE   29,600 0 4,498
Cabot Oil & Gas Corp. Common 127097103 298,764 16,888,879 SH   SOLE   16,667,146 0 221,733
Capital One Financial Corp. Common 14040H105 256,689 3,556,235 SH   SOLE   3,516,423 0 39,812
CarMax, Inc. Common 143130102 486,447 9,013,288 SH   SOLE   8,925,493 0 87,795
CatchMark Timber Trust Inc., Class A Common 14912Y202 20,987 1,855,608 SH   SOLE   546,048 0 1,309,560
CBL & Associates Properties, Inc Common 124830100 1,112 89,860 SH   SOLE   89,860 0 0
Cedar Realty Trust Inc. Common 150602209 14,428 2,037,855 SH   SOLE   863,455 0 1,174,400
Cemex SA ADR ADR 151290889 131 23,540 SH   SOLE   23,540 0 0
Charles Schwab Corp. Common 808513105 487,562 14,806,013 SH   SOLE   14,564,581 0 241,432
Chubb Corp. Common 171232101 20,632 155,547 SH   SOLE   153,770 0 1,777
Citigroup Inc. Common 172967424 11,826 228,529 SH   SOLE   228,529 0 0
Citizens Financial Group Inc. Common 174610105 308,186 11,767,326 SH   SOLE   11,623,499 0 143,827
Colgate-Palmolive Co. Common 194162103 12,261 184,048 SH   SOLE   162,016 0 22,032
CorEnergy Infrastructure Trust, Inc. Common 21870U502 2,653 178,765 SH   SOLE   75,765 0 103,000
Costco Wholesale Corp. Common 22160K105 430,184 2,663,678 SH   SOLE   2,593,346 0 70,332
Cousins Properties, Inc. Common 222795106 14,120 1,497,387 SH   SOLE   627,887 0 869,500
Crown Castle International Corp. Common 22822V101 10,520 121,694 SH   SOLE   50,674 0 71,020
Ctrip.com International, Ltd. ADR ADR 22943F100 3,120 67,346 SH   SOLE   67,346 0 0
CyrusOne Inc. Common 23283R100 24,279 648,314 SH   SOLE   223,966 0 424,348
DCT Industrial Trust Inc. Common 233153204 17,739 474,687 SH   SOLE   170,310 0 304,377
DDR Corporation Common 23317H102 9,575 568,604 SH   SOLE   271,654 0 296,950
DENTSPLY International, Inc. Common 249030107 3,481 57,200 SH   SOLE   57,200 0 0
Devon Energy Corp. Common 25179M103 10,715 334,830 SH   SOLE   334,830 0 0
Diageo PLC - ADR ADR 25243Q205 72,722 666,750 SH   SOLE   613,534 0 53,216
DiamondRock Hospitality Co. Common 252784301 5,097 528,171 SH   SOLE   211,611 0 316,560
Disney Walt Holdings Common 254687106 272 2,591 SH   SOLE   0 0 2,591
DuPont Fabros Technology Inc. Common 26613Q106 10,905 343,041 SH   SOLE   137,421 0 205,620
Eastgroup Properties, Inc. Common 277276101 16,056 288,729 SH   SOLE   112,689 0 176,040
Eaton Corporation Plc Common G29183103 6,255 120,205 SH   SOLE   106,453 0 13,752
Ecolab Inc. Common 278865100 267,598 2,339,556 SH   SOLE   2,302,900 0 36,656
Education Realty Trust, Inc. Common 28140H203 14,797 390,620 SH   SOLE   133,327 0 257,293
Encana Corporation Foreign 292505104 357,257 70,188,018 SH   SOLE   69,157,197 0 1,030,821
EOG Resources, Inc. Common 26875P101 52,031 735,011 SH   SOLE   687,275 0 47,736
Equity Residential Common 29476L107 14,899 182,607 SH   SOLE   80,732 0 101,875
Essex Property Trust, Inc. Common 297178105 14,289 59,685 SH   SOLE   22,594 0 37,091
Everest Re Group, Ltd. Common G3223R108 37,526 204,962 SH   SOLE   204,962 0 0
Express Scripts Holding Co. Common 30219G108 483,533 5,531,779 SH   SOLE   5,441,071 0 90,708
Extended Stay America, Inc. Common 30224P200 2,240 140,859 SH   SOLE   140,859 0 0
Facebook, Inc. Common 30303M102 258,661 2,471,438 SH   SOLE   2,426,602 0 44,836
Federal Realty Investment Trust Common 313747206 11,791 80,704 SH   SOLE   33,414 0 47,290
FireEye, Inc. Common 31816Q101 3,828 184,560 SH   SOLE   184,560 0 0
First Industrial Realty Trust, Inc. Common 32054K103 14,755 666,739 SH   SOLE   261,999 0 404,740
First Solar, Inc. Common 336433107 266 4,030 SH   SOLE   4,030 0 0
Forest City Enterprises Inc. Class A Common 345550107 2,654 121,035 SH   SOLE   121,035 0 0
Franklin Resources Inc Common 354613101 258 7,000 SH   SOLE   7,000 0 0
Freeport-McMoRan Copper & Gold, Inc. Common 35671D857 3,519 519,734 SH   SOLE   519,734 0 0
General Electric Co. Common 369604103 12,559 403,170 SH   SOLE   403,170 0 0
Goldman Sachs Group Inc. Common 38141G104 25,175 139,682 SH   SOLE   139,682 0 0
Grubhub Inc Common 400110102 9,211 380,634 SH   SOLE   345,025 0 35,609
Grupo Televisa S.A.B. ADR ADR 40049J206 13,296 488,628 SH   SOLE   488,628 0 0
Hewlett Packard Enterprise Company Common 42824C109 4,290 282,245 SH   SOLE   248,343 0 33,902
Highwoods Properties Inc. Common 431284108 12,549 287,826 SH   SOLE   99,036 0 188,790
HP Inc. Common 40434L105 3,322 280,545 SH   SOLE   248,093 0 32,452
Hyatt Hotels Corp. Class A Common 448579102 3,129 66,545 SH   SOLE   66,545 0 0
ICICI Bank Limited ADR ADR 45104G104 5,175 660,875 SH   SOLE   660,875 0 0
IDEXX Laboratories, Inc. Common 45168D104 19,279 264,392 SH   SOLE   264,392 0 0
Intel Corp 3.25% 8/1/39 Bond 458140AF7 19,211 11,551,000 PRN   SOLE   11,551,000 0 0
Intel Corp. Common 458140100 6,137 178,132 SH   SOLE   157,871 0 20,261
International Business Machines Common 459200101 2,660 19,331 SH   SOLE   15,992 0 3,339
InterXion Holding NV Foreign N47279109 2,940 97,501 SH   SOLE   97,501 0 0
iShares Russell 3000 Index Fund ETF 464287689 3,936 32,718 SH   SOLE   30,641 0 2,077
iShares S&P 500 Value Index Fund ETF 464287408 28,012 316,410 SH   SOLE   296,814 0 19,596
Jarden Corp. Common 471109108 942 16,500 SH   SOLE   16,500 0 0
JD.com Inc ADR ADR 47215P106 46,257 1,433,672 SH   SOLE   1,343,160 0 90,512
Johnson Controls, Inc. Common 478366107 348,490 8,824,758 SH   SOLE   8,699,986 0 124,772
JPMorgan Chase & Co. Common 46625H100 1,149,241 17,404,836 SH   SOLE   17,158,858 0 245,978
Jumei International ADR ADR 48138L107 834 92,020 SH   SOLE   92,020 0 0
KBR, Inc. Common 48242W106 1,782 105,300 SH   SOLE   105,300 0 0
Keysight Technologies, Inc. Common 49338L103 400 14,117 SH   SOLE   14,117 0 0
Kite Realty Group Trust Common 49803T300 24,855 958,541 SH   SOLE   365,289 0 593,252
Kohls Corp. Common 500255104 13,414 281,620 SH   SOLE   281,620 0 0
Laboratory Corporation of America Hldg Common 50540R409 219,950 1,778,955 SH   SOLE   1,725,016 0 53,939
Las Vegas Sands Corp. Common 517834107 441,050 10,060,443 SH   SOLE   9,878,861 0 181,582
LendingClub Corp. Common 52603A109 7,544 682,723 SH   SOLE   628,458 0 54,265
Liberty Global Plc Series C Common G5480U120 600,321 14,724,572 SH   SOLE   14,417,357 0 307,215
Liberty Global PLC LiLAC Class C Common G5480U153 33,155 771,053 SH   SOLE   754,402 0 16,651
Liberty Ventures Series A Common 53071M880 75,940 1,683,449 SH   SOLE   1,645,303 0 38,146
Liberty Interactive Corp QVC Group, Class A Common 53071M104 86,210 3,155,581 SH   SOLE   3,097,153 0 58,428
Liberty Property Trust Common 531172104 10,091 325,007 SH   SOLE   97,567 0 227,440
Liberty TripAdvisor Holdings Inc., Class A Common 531465102 23,826 785,316 SH   SOLE   784,866 0 450
Loews Corp. Common 540424108 245,008 6,380,409 SH   SOLE   6,271,577 0 108,832
Lowes Cos Inc. Common 548661107 13,236 174,063 SH   SOLE   150,942 0 23,121
Macerich Co. Common 554382101 15,311 189,751 SH   SOLE   69,011 0 120,740
Markel Corp. Common 570535104 298,869 338,336 SH   SOLE   333,462 0 4,874
Marsh & McLennan Co. Common 571748102 28,309 510,540 SH   SOLE   510,540 0 0
Masco Corp. Common 574599106 9,007 318,280 SH   SOLE   318,280 0 0
Mastercard, Inc. Common 57636Q104 1,401 14,390 SH   SOLE   14,390 0 0
McGraw Hill Financial, Inc. Common 580645109 17,641 178,950 SH   SOLE   178,950 0 0
Microsoft Corp. Common 594918104 296,112 5,337,272 SH   SOLE   5,206,231 0 131,041
Monsanto Co. Common 61166W101 811,141 8,233,266 SH   SOLE   8,103,629 0 129,637
Moody's Corp. Common 615369105 173,104 1,725,172 SH   SOLE   1,700,751 0 24,421
Nabors Industries Ltd. Common G6359F103 9,081 1,067,082 SH   SOLE   1,067,082 0 0
National Health Investors, Inc. Common 63633D104 5,437 89,315 SH   SOLE   47,715 0 41,600
Nike Inc Common 654106103 13,909 222,546 SH   SOLE   194,660 0 27,886
Noah Holdings Ltd. ADS ADR 65487X102 12,666 453,484 SH   SOLE   453,484 0 0
NXP Semiconductors NV, 1% 12/1/19 Bond 62952QAB6 7,669 7,000,000 PRN   SOLE   7,000,000 0 0
Occidental Petroleum Corp. Common 674599105 357,637 5,289,708 SH   SOLE   5,219,305 0 70,403
Oracle Corporation Common 68389X105 210,408 5,759,861 SH   SOLE   5,634,486 0 125,375
PACCAR Inc. Common 693718108 182,793 3,856,387 SH   SOLE   3,779,179 0 77,208
Party City Holdings, Inc. Common 702149105 10,159 786,878 SH   SOLE   694,844 0 92,034
Post Properties Inc. Common 737464107 18,146 306,728 SH   SOLE   108,238 0 198,490
Praxair, Inc. Common 74005P104 382,370 3,734,085 SH   SOLE   3,679,219 0 54,866
Precision Castparts Corp. Common 740189105 306 1,320 SH   SOLE   1,320 0 0
Progressive Corp. Common 743315103 234 7,350 SH   SOLE   7,350 0 0
Prologis, Inc. Common 74340W103 16,544 385,470 SH   SOLE   155,660 0 229,810
Qihoo 360 Technology Co. ADR ADR 74734M109 108,119 1,484,948 SH   SOLE   1,465,880 0 19,068
Qihoo 360 Technology Co., 2.5%, 9/15/2018 Bond 74734MAB5 5,910 6,000,000 PRN   SOLE   6,000,000 0 0
Quanta Services, Inc. Common 74762E102 10,792 532,920 SH   SOLE   532,920 0 0
Quest Diagnostics Inc. Common 74834L100 255,454 3,590,857 SH   SOLE   3,518,663 0 72,194
Quotient Technology Inc. Common 749119103 45,196 6,626,923 SH   SOLE   6,057,823 0 569,100
Ramco-Gershenson Properties Trust Common 751452202 13,194 794,360 SH   SOLE   291,960 0 502,400
Republic Services, Inc. Common 760759100 556 12,630 SH   SOLE   12,630 0 0
Retail Opportunity Investments Corp. Common 76131N101 12,556 701,449 SH   SOLE   290,239 0 411,210
Rexford Industrial Realty, Inc. Common 76169C100 1,128 68,935 SH   SOLE   29,165 0 39,770
Rockwell Automation Inc. Common 773903109 50,393 491,112 SH   SOLE   466,138 0 24,974
RTI International Metals, 1.625%, 10/15/2019 Bond 74973WAB3 7,929 7,750,000 PRN   SOLE   7,750,000 0 0
Salesforce.com Inc Common 79466L302 8,452 107,800 SH   SOLE   93,324 0 14,476
Salesforce.com Inc., 0.25%, 04/01/2018 Bond 79466LAD6 10,290 8,000,000 PRN   SOLE   8,000,000 0 0
SAP AG ADR ADR 803054204 9,082 114,823 SH   SOLE   97,505 0 17,318
Simon Property Group Inc. Common 828806109 28,908 148,672 SH   SOLE   63,682 0 84,990
Soufun Holdings Ltd Class A ADR ADR 836034108 134,026 18,136,165 SH   SOLE   17,765,382 0 370,783
SPDR S&P 500 ETF Trust ETF 78462F103 535 2,622 SH   SOLE   2,622 0 0
Starwood Hotels & Resorts Worldwide, Inc. Common 85590A401 2,506 36,178 SH   SOLE   36,178 0 0
Terreno Realty Corp. Common 88146M101 18,814 831,731 SH   SOLE   308,728 0 523,003
Texas Instruments, Inc. Common 882508104 475,395 8,673,505 SH   SOLE   8,461,172 0 212,333
The Priceline Group Inc. Common 741503403 310,775 243,755 SH   SOLE   238,413 0 5,342
The Sherwin Williams Co. Common 824348106 7,722 29,747 SH   SOLE   26,282 0 3,465
Tiffany & Co. Common 886547108 381 5,000 SH   SOLE   5,000 0 0
Time Warner Cable Inc. Common 88732J207 25,405 136,889 SH   SOLE   120,148 0 16,741
TJX Companies Inc. Common 872540109 6,539 92,219 SH   SOLE   80,954 0 11,265
TopBuild Corp. Common 89055F103 1,519 49,379 SH   SOLE   49,379 0 0
Transocean Ltd. Common H8817H100 5,229 422,356 SH   SOLE   422,356 0 0
Twenty-First Century Fox Inc Class A Common 90130A101 6,370 234,546 SH   SOLE   234,546 0 0
Tyson Foods Inc 4.75 07/15/17 Preferred 902494301 19,708 325,000 SH   SOLE   325,000 0 0
UDR, Inc. Common 902653104 9,928 264,247 SH   SOLE   104,807 0 159,440
Ultra Petroleum Corp Common 903914109 42,203 16,881,017 SH   SOLE   16,398,507 0 482,510
United Parcel Service, Inc., Class B Common 911312106 238 2,473 SH   SOLE   0 0 2,473
United Rentals, Inc. Common 911363109 10,660 146,956 SH   SOLE   146,956 0 0
United States Steel Corporation Common 912909108 695 87,120 SH   SOLE   87,120 0 0
United Technologies Corp. Common 913017109 845,765 8,803,638 SH   SOLE   8,670,349 0 133,289
UnitedHealth Group Inc. Common 91324P102 470,133 3,996,369 SH   SOLE   3,891,301 0 105,068
Univar, Inc. Common 91336L107 9,647 567,141 SH   SOLE   524,443 0 42,698
Universal Health Services, Inc. Common 913903100 11,647 97,470 SH   SOLE   97,470 0 0
US Bancorp Common 902973304 32,167 753,850 SH   SOLE   748,826 0 5,024
Valeant Pharmaceuticals International Common 91911K102 384,645 3,784,012 SH   SOLE   3,728,762 0 55,250
Vipshop Holdings Ltd. ADS ADR 92763W103 18,961 1,241,706 SH   SOLE   1,159,825 0 81,881
Visa Inc. Class A Common 92826C839 440,759 5,683,542 SH   SOLE   5,562,617 0 120,925
Vornado Realty Trust Common 929042109 21,253 212,613 SH   SOLE   104,967 0 107,646
W.R. Berkley Corp. Common 084423102 278 5,080 SH   SOLE   5,080 0 0
W.W. Grainger, Inc. Common 384802104 235 1,160 SH   SOLE   1,160 0 0
Waste Connections Inc. Common 941053100 11,202 198,900 SH   SOLE   198,900 0 0
Wells Fargo & Co. Common 949746101 1,401,677 25,785,084 SH   SOLE   25,434,821 0 350,263
Wesco Aircraft Holdings, Inc. Common 950814103 75,756 6,328,787 SH   SOLE   6,100,850 0 227,937
Wesco International, Inc. Common 95082P105 13,007 297,782 SH   SOLE   275,648 0 22,134
Whole Foods Market Inc. Common 966837106 10,741 320,624 SH   SOLE   320,624 0 0
Youku Tudou Inc. ADR ADR 98742U100 2,062 76,009 SH   SOLE   76,009 0 0
YY Inc. ADR ADR 98426T106 22,036 352,744 SH   SOLE   334,052 0 18,692