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 1,544 24,105 SH   SOLE   24,105 0 0
Acadia Realty Trust Common 004239109 18,291 628,351 SH   SOLE   255,121 0 373,230
Ace Limited Common H0023R105 331,464 3,259,873 SH   SOLE   3,080,724 0 179,149
Advanced Auto Parts, Inc. Common 00751Y106 199,848 1,254,619 SH   SOLE   1,183,900 0 70,719
AES Corp. Common 00130H105 5,593 421,806 SH   SOLE   421,806 0 0
AES Trust III,6.75%,10/15/29 Preferred 00808N202 7,375 145,027 SH   SOLE   145,027 0 0
Agilent Technologies, Inc. Common 00846U101 2,747 71,209 SH   SOLE   63,607 0 7,602
Air Products & Chemicals, Inc. Common 009158106 243 1,773 SH   SOLE   0 0 1,773
Alexander & Baldwin, Inc. Common 014491104 6,074 154,150 SH   SOLE   154,150 0 0
Alexandria Real Estate Equities, Inc. Common 015271109 14,562 166,502 SH   SOLE   73,518 0 92,984
Allegheny Technologies, Inc. Common 01741R102 12,142 402,051 SH   SOLE   402,051 0 0
Allergan PLC Common G0177J108 637 2,100 SH   SOLE   2,100 0 0
Altera Corp. Common 021441100 1,987 38,800 SH   SOLE   38,800 0 0
Amazon.Com, Inc. Common 023135106 1,952,372 4,497,620 SH   SOLE   4,233,353 0 264,267
American Campus Communities Inc. Common 024835100 16,187 429,466 SH   SOLE   149,382 0 280,084
American Express Co. Common 025816109 1,604,530 20,645,014 SH   SOLE   19,471,646 0 1,173,368
American Homes 4 Rent, Class A Common 02665T306 9,018 562,232 SH   SOLE   199,302 0 362,930
American International Group Inc. Common 026874784 26,441 427,710 SH   SOLE   427,710 0 0
American Residential Properties, Inc. Common 02927E303 12,220 660,526 SH   SOLE   350,466 0 310,060
American Tower Corp. Common 03027X100 10,013 107,336 SH   SOLE   62,846 0 44,490
Angie's List Inc. Common 034754101 22,882 3,714,648 SH   SOLE   3,358,298 0 356,350
Apartment Investment & Management Common 03748R101 7,702 208,563 SH   SOLE   84,483 0 124,080
Apple Inc. Common 037833100 413 3,290 SH   SOLE   3,290 0 0
Applied Materials, Inc. Common 038222105 6,801 353,864 SH   SOLE   313,970 0 39,894
Avalonbay Communities, Inc. Common 053484101 32,227 201,583 SH   SOLE   85,043 0 116,540
Baidu, Inc. Class A, ADR ADR 056752108 7,849 39,426 SH   SOLE   39,426 0 0
Bank of America Corp. Common 060505104 13,125 771,136 SH   SOLE   771,136 0 0
Bank of New York Mellon Corp. Common 064058100 1,278,356 30,458,796 SH   SOLE   28,618,477 0 1,840,319
Berkshire Hathaway Inc., Class A Common 084670108 1,128,928 5,511 SH   SOLE   5,217 0 294
Berkshire Hathaway Inc., Class B Common 084670702 161,367 1,185,560 SH   SOLE   1,080,230 0 105,330
Boardwalk Pipeline Partners Partnership 096627104 321 22,090 SH   SOLE   22,090 0 0
Boston Properties, Inc. Common 101121101 19,584 161,797 SH   SOLE   63,247 0 98,550
Brandywine Realty Trust Common 105368203 9,448 711,428 SH   SOLE   222,778 0 488,650
Brixmor Property Group, Inc. Common 11120U105 9,069 392,073 SH   SOLE   162,783 0 229,290
Brookdale Senior Living, Inc. Common 112463104 5,913 170,399 SH   SOLE   170,399 0 0
Brookfield Asset Management Inc., Class A Foreign 112585104 24,215 693,255 SH   SOLE   693,255 0 0
Cabot Oil & Gas Corp. Common 127097103 754,622 23,925,872 SH   SOLE   22,508,164 0 1,417,708
Camden Property Trust Common 133131102 8,012 107,857 SH   SOLE   44,477 0 63,380
Canadian Natural Resources Ltd. Foreign 136385101 1,128 41,527 SH   SOLE   41,527 0 0
Capital One Financial Corp. Common 14040H105 16,259 184,820 SH   SOLE   184,820 0 0
CarMax, Inc. Common 143130102 737,099 11,132,737 SH   SOLE   10,389,546 0 743,191
CatchMark Timber Trust Inc., Class A Common 14912Y202 10,906 942,642 SH   SOLE   423,882 0 518,760
Cedar Realty Trust Inc. Common 150602209 10,530 1,645,344 SH   SOLE   663,124 0 982,220
Cemex SA ADR ADR 151290889 216 23,540 SH   SOLE   23,540 0 0
Charles Schwab Corp. Common 808513105 555,305 17,007,813 SH   SOLE   16,014,369 0 993,444
Chubb Corp. Common 171232101 14,997 157,631 SH   SOLE   155,870 0 1,761
Citigroup Inc. Common 172967424 13,571 245,679 SH   SOLE   245,679 0 0
Citizens Financial Group Inc. Common 174610105 390,695 14,305,919 SH   SOLE   13,574,450 0 731,469
Colgate-Palmolive Co. Common 194162103 12,099 184,979 SH   SOLE   163,107 0 21,872
Corporate Office Properties Trust Common 22002T108 13,769 584,910 SH   SOLE   224,360 0 360,550
Costco Wholesale Corp. Common 22160K105 461,723 3,418,654 SH   SOLE   3,244,876 0 173,778
Coupons.com, Inc. Common 22265J102 58,702 5,440,420 SH   SOLE   4,931,773 0 508,647
Cousins Properties, Inc. Common 222795106 10,308 993,091 SH   SOLE   265,881 0 727,210
Crown Castle International Corp. Common 22822V101 9,005 112,144 SH   SOLE   47,014 0 65,130
Ctrip.com International, Ltd. ADR ADR 22943F100 8,379 115,376 SH   SOLE   115,376 0 0
CyrusOne Inc. Common 23283R100 21,514 730,525 SH   SOLE   235,077 0 495,448
DCT Industrial Trust Inc. Common 233153204 22,115 703,403 SH   SOLE   279,486 0 423,917
DDR Corporation Common 23317H102 10,839 701,070 SH   SOLE   276,220 0 424,850
Devon Energy Corp. Common 25179M103 12,432 208,980 SH   SOLE   208,980 0 0
Diageo PLC - ADR ADR 25243Q205 100,314 864,475 SH   SOLE   705,322 0 159,153
DiamondRock Hospitality Co. Common 252784301 6,804 531,142 SH   SOLE   214,582 0 316,560
Disney Walt Holdings Common 254687106 294 2,577 SH   SOLE   0 0 2,577
Eastgroup Properties, Inc. Common 277276101 6,190 110,078 SH   SOLE   38,938 0 71,140
Ecolab Inc. Common 278865100 481,272 4,256,408 SH   SOLE   3,990,745 0 265,663
Education Realty Trust, Inc. Common 28140H203 12,307 392,432 SH   SOLE   135,139 0 257,293
Encana Corporation Foreign 292505104 774,714 70,300,725 SH   SOLE   66,182,153 0 4,118,572
Endurance International Group Hlgs, Inc. Common 29272B105 5,913 286,193 SH   SOLE   286,193 0 0
EOG Resources, Inc. Common 26875P101 286,880 3,276,758 SH   SOLE   3,086,525 0 190,233
Equity Residential Common 29476L107 16,428 234,124 SH   SOLE   94,124 0 140,000
Essex Property Trust, Inc. Common 297178105 14,795 69,624 SH   SOLE   27,068 0 42,556
Everest Re Group, Ltd. Common G3223R108 37,849 207,952 SH   SOLE   207,952 0 0
Express Scripts Holding Co. Common 30219G108 1,155,263 12,989,241 SH   SOLE   12,180,827 0 808,414
Extended Stay America, Inc. Common 30224P200 2,689 143,257 SH   SOLE   143,257 0 0
Fairchild Semiconductor International Common 303726103 8,349 480,407 SH   SOLE   480,407 0 0
Federal Realty Investment Trust Common 313747206 16,181 126,328 SH   SOLE   49,588 0 76,740
First Industrial Realty Trust, Inc. Common 32054K103 12,269 655,030 SH   SOLE   246,990 0 408,040
Forest City Ent FCE 5% 10/15/16 Bond 345550AM9 1,925 1,120,000 PRN   SOLE   1,120,000 0 0
Forest City Enterprises Inc. Class A Common 345550107 5,124 231,833 SH   SOLE   231,833 0 0
Franklin Resources Inc Common 354613101 349 7,114 SH   SOLE   7,114 0 0
Freeport-McMoRan Copper & Gold, Inc. Common 35671D857 6,987 375,224 SH   SOLE   375,224 0 0
General Electric Co. Common 369604103 11,300 425,290 SH   SOLE   425,290 0 0
General Growth Properties Inc. Common 370023103 14,710 573,269 SH   SOLE   243,829 0 329,440
Goldman Sachs Group Inc. Common 38141G104 29,651 142,012 SH   SOLE   142,012 0 0
Google Inc. Class A Common 38259P508 906,936 1,679,386 SH   SOLE   1,577,719 0 101,667
Google Inc. Class C Common 38259P706 919,624 1,766,776 SH   SOLE   1,664,525 0 102,251
Grubhub Inc Common 400110102 14,528 426,424 SH   SOLE   386,286 0 40,138
Grupo Televisa S.A.B. ADR ADR 40049J206 18,237 469,779 SH   SOLE   469,779 0 0
Health Care REIT, Inc. Common 42217K106 12,895 196,478 SH   SOLE   81,488 0 114,990
Hewlett Packard Co. Common 428236103 8,564 285,371 SH   SOLE   251,210 0 34,161
Highwoods Properties Inc. Common 431284108 10,583 264,894 SH   SOLE   91,754 0 173,140
Hunter Douglas N.V. Foreign 5291810NL 77,163 1,731,553 SH   SOLE   1,674,933 0 56,620
Hyatt Hotels Corp. Class A Common 448579102 3,176 56,017 SH   SOLE   56,017 0 0
ICICI Bank Limited ADR ADR 45104G104 6,991 670,875 SH   SOLE   670,875 0 0
IDEXX Laboratories, Inc. Common 45168D104 47,055 733,629 SH   SOLE   679,371 0 54,258
Intel Corp 3.25% 8/1/39 Bond 458140AF7 17,572 11,551,000 PRN   SOLE   11,551,000 0 0
Intel Corp. Common 458140100 5,443 178,953 SH   SOLE   158,402 0 20,551
International Business Machines Common 459200101 3,316 20,387 SH   SOLE   16,762 0 3,625
InterXion Holding NV Foreign N47279109 2,738 99,040 SH   SOLE   99,040 0 0
Jarden Corp. Common 471109108 854 16,500 SH   SOLE   16,500 0 0
JD.com Inc ADR ADR 47215P106 51,375 1,506,612 SH   SOLE   1,415,746 0 90,866
JPMorgan Chase & Co. Common 46625H100 1,254,998 18,521,217 SH   SOLE   17,459,318 0 1,061,899
Jumei International ADR ADR 48138L107 2,477 108,460 SH   SOLE   108,460 0 0
KBR, Inc. Common 48242W106 2,051 105,300 SH   SOLE   105,300 0 0
Keysight Technologies, Inc. Common 49338L103 474 15,212 SH   SOLE   15,212 0 0
Kite Realty Group Trust Common 49803T300 19,133 781,905 SH   SOLE   280,733 0 501,172
Kohls Corp. Common 500255104 16,302 260,370 SH   SOLE   260,370 0 0
Laboratory Corporation of America Hldg Common 50540R409 511,040 4,215,809 SH   SOLE   3,952,325 0 263,484
Las Vegas Sands Corp. Common 517834107 727,887 13,846,044 SH   SOLE   12,965,612 0 880,432
LendingClub Corp. Common 52603A109 10,913 739,893 SH   SOLE   679,826 0 60,067
Liberty Global Plc Series C Common G5480U120 1,027,711 20,298,466 SH   SOLE   19,003,078 0 1,295,388
Liberty Media Interactive Series A Common 53071M104 121,635 4,383,247 SH   SOLE   4,089,673 0 293,574
Liberty Property Trust Common 531172104 16,735 519,383 SH   SOLE   147,163 0 372,220
Liberty TripAdvisor Holdings Inc., Class A Common 531465102 35,832 1,112,100 SH   SOLE   1,066,402 0 45,698
Liberty Ventures Series A Common 53071M880 90,084 2,293,972 SH   SOLE   2,140,236 0 153,736
Loews Corp. Common 540424108 321,583 8,350,641 SH   SOLE   7,862,930 0 487,711
Lowes Cos Inc. Common 548661107 12,699 189,628 SH   SOLE   165,252 0 24,376
Macerich Co. Common 554382101 12,547 168,187 SH   SOLE   58,077 0 110,110
Markel Corp. Common 570535104 281,509 351,587 SH   SOLE   341,497 0 10,090
Marsh & McLennan Co. Common 571748102 29,521 520,660 SH   SOLE   520,660 0 0
Masco Corp. Common 574599106 11,853 444,420 SH   SOLE   444,420 0 0
Mastercard, Inc. Common 57636Q104 1,430 15,300 SH   SOLE   15,300 0 0
McGraw Hill Financial, Inc. Common 580645109 18,282 182,000 SH   SOLE   182,000 0 0
Microsoft Corp. Common 594918104 327,707 7,422,584 SH   SOLE   6,906,518 0 516,066
Moody's Corp. Common 615369105 247,896 2,296,187 SH   SOLE   2,177,378 0 118,809
Nabors Industries Ltd. Common G6359F103 11,307 783,602 SH   SOLE   783,602 0 0
National Health Investors, Inc. Common 63633D104 5,613 90,101 SH   SOLE   48,501 0 41,600
NetEase Inc. ADR ADR 64110W102 13,420 92,637 SH   SOLE   92,637 0 0
Nike Inc Common 654106103 12,930 119,704 SH   SOLE   105,205 0 14,499
Oracle Corporation Common 68389X105 316,777 7,860,478 SH   SOLE   7,344,741 0 515,737
PACCAR Inc. Common 693718108 335,203 5,253,148 SH   SOLE   4,873,360 0 379,788
Party City Holdings, Inc. Common 702149105 9,725 479,751 SH   SOLE   421,365 0 58,386
Post Properties Inc. Common 737464107 19,258 354,202 SH   SOLE   110,592 0 243,610
Praxair, Inc. Common 74005P104 635,771 5,318,033 SH   SOLE   4,981,898 0 336,135
Precision Castparts Corp. Common 740189105 402,025 2,011,431 SH   SOLE   1,890,426 0 121,005
Progressive Corp. Common 743315103 205 7,350 SH   SOLE   7,350 0 0
Prologis, Inc. Common 74340W103 24,921 671,735 SH   SOLE   263,115 0 408,620
Qihoo 360 Technology Co. ADR ADR 74734M109 266,347 3,934,810 SH   SOLE   3,714,063 0 220,747
Qihoo 360 Technology Co., 2.5%, 9/15/2018 Bond 74734MAB5 8,786 9,000,000 PRN   SOLE   9,000,000 0 0
QTS Realty Trust Inc., Class A Common 74736A103 2,734 75,006 SH   SOLE   29,806 0 45,200
Quanta Services, Inc. Common 74762E102 11,793 409,190 SH   SOLE   409,190 0 0
Quest Diagnostics Inc. Common 74834L100 361,185 4,980,482 SH   SOLE   4,666,803 0 313,679
Ramco-Gershenson Properties Trust Common 751452202 10,516 644,364 SH   SOLE   224,174 0 420,190
Republic Services, Inc. Common 760759100 651 16,630 SH   SOLE   16,630 0 0
Retail Opportunity Investments Corp. Common 76131N101 8,853 566,747 SH   SOLE   222,827 0 343,920
Rockwell Automation Inc. Common 773903109 42,510 341,061 SH   SOLE   317,846 0 23,215
RTI International Metals, 1.625%, 10/15/2019 Bond 74973WAB3 6,235 5,750,000 PRN   SOLE   5,750,000 0 0
Salesforce.com Inc Common 79466L302 8,758 125,782 SH   SOLE   109,779 0 16,003
Salesforce.com Inc., 0.25%, 04/01/2018 Bond 79466LAD6 9,725 8,000,000 PRN   SOLE   8,000,000 0 0
SAP AG ADR ADR 803054204 8,250 117,473 SH   SOLE   100,061 0 17,412
Simon Property Group Inc. Common 828806109 37,429 216,327 SH   SOLE   107,877 0 108,450
Soufun Holdings Ltd Class A ADR ADR 836034108 175,311 20,845,523 SH   SOLE   19,709,181 0 1,136,342
Terreno Realty Corp. Common 88146M101 16,912 858,474 SH   SOLE   282,571 0 575,903
Texas Instruments, Inc. Common 882508104 609,535 11,833,339 SH   SOLE   11,130,765 0 702,574
Textron Inc. Common 883203101 14,148 317,009 SH   SOLE   266,343 0 50,666
The Priceline Group Inc. Common 741503403 401,522 348,734 SH   SOLE   325,333 0 23,401
The Sherwin Williams Co. Common 824348106 8,768 31,883 SH   SOLE   28,260 0 3,623
Tiffany & Co. Common 886547108 459 5,000 SH   SOLE   5,000 0 0
Time Warner Cable Inc. Common 88732J207 23,343 131,015 SH   SOLE   115,824 0 15,191
TJX Companies Inc. Common 872540109 6,555 99,066 SH   SOLE   87,465 0 11,601
Transdigm Group Inc. Common 893641100 22,387 99,643 SH   SOLE   92,298 0 7,345
Transocean Ltd. Common H8817H100 6,808 422,356 SH   SOLE   422,356 0 0
Twenty-First Century Fox Inc Class A Common 90130A101 9,956 305,916 SH   SOLE   305,916 0 0
Twenty-First Century Fox Inc Class B Common 90130A200 8,782 272,568 SH   SOLE   249,872 0 22,696
Tyson Foods Inc. Common 902494103 1,237 29,010 SH   SOLE   29,010 0 0
Tyson Foods Inc 4.75 07/15/17 Preferred 902494301 19,316 375,000 SH   SOLE   375,000 0 0
UDR, Inc. Common 902653104 8,510 265,703 SH   SOLE   106,263 0 159,440
Ultra Petroleum Corp Common 903914109 250,769 20,029,501 SH   SOLE   18,759,599 0 1,269,902
United Parcel Service, Inc., Class B Common 911312106 236 2,437 SH   SOLE   0 0 2,437
United Rentals, Inc. Common 911363109 10,965 125,146 SH   SOLE   125,146 0 0
United Technologies Corp. Common 913017109 5,848 52,715 SH   SOLE   52,715 0 0
UnitedHealth Group Inc. Common 91324P102 832,180 6,821,144 SH   SOLE   6,376,476 0 444,668
Univar, Inc. Common 91336L107 10,412 400,000 SH   SOLE   400,000 0 0
Universal Health Services, Inc. Common 913903100 16,324 114,880 SH   SOLE   114,880 0 0
US Bancorp Common 902973304 24,211 557,850 SH   SOLE   552,886 0 4,964
US Steel Corp. Conv. Bond 2.75% 4/1/19 Bond 912909AH1 15,702 14,250,000 PRN   SOLE   14,250,000 0 0
Valeant Pharmaceuticals International Common 91911K102 391,481 1,762,238 SH   SOLE   1,652,497 0 109,741
Ventas, Inc. Common 92276F100 12,862 207,149 SH   SOLE   85,939 0 121,210
Vipshop Holdings Ltd. ADS ADR 92763W103 24,276 1,091,041 SH   SOLE   994,387 0 96,654
Visa Inc. Class A Common 92826C839 506,353 7,540,627 SH   SOLE   7,085,762 0 454,865
Vornado Realty Trust Common 929042109 19,298 203,284 SH   SOLE   80,608 0 122,676
W.R. Berkley Corp. Common 084423102 264 5,080 SH   SOLE   5,080 0 0
Waste Connections Inc. Common 941053100 12,388 262,910 SH   SOLE   262,910 0 0
Wells Fargo & Co. Common 949746101 2,028,544 36,069,415 SH   SOLE   33,690,848 0 2,378,567
Wells Fargo & Co. Warrants Warrant 949746119 5,038 224,020 SH   SOLE   224,020 0 0
Wesco Aircraft Holdings, Inc. Common 950814103 97,572 6,440,398 SH   SOLE   6,105,611 0 334,787
Wesco International, Inc. Common 95082P105 20,006 291,456 SH   SOLE   268,687 0 22,769
Whole Foods Market Inc. Common 966837106 9,319 236,274 SH   SOLE   236,274 0 0
WW Grainger, Inc. Common 384802104 275 1,160 SH   SOLE   1,160 0 0
Youku Tudou Inc. ADR ADR 98742U100 23,368 952,638 SH   SOLE   838,248 0 114,390
YY Inc. ADR ADR 98426T106 25,077 360,711 SH   SOLE   340,982 0 19,729