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., Class A, ADR ADR 31680Q104 44,462 912,598 SH   SOLE   912,598 0 0
Acadia Realty Trust Common 004239109 4,615 372,477 SH   SOLE   183,807 0 188,670
Adient plc Common G0084W101 12,695 1,399,699 SH   SOLE   1,399,699 0 0
Alexandria Real Estate Equities, Inc. Common 015271109 15,241 111,197 SH   SOLE   67,303 0 43,894
Alibaba Group Holding Ltd., ADR ADR 01609W102 696,422 3,580,944 SH   SOLE   3,542,575 0 38,369
Alleghany Corporation Common 017175100 24,894 45,069 SH   SOLE   45,069 0 0
Alphabet Inc., Class A Common 02079K305 481,487 414,378 SH   SOLE   406,436 0 7,942
Alphabet Inc., Class C Common 02079K107 931,178 800,800 SH   SOLE   790,139 0 10,661
Altus Midstream Co., Class A Common 02215L100 2,843 3,791,280 SH   SOLE   3,791,280 0 0
Amazon.com, Inc. Common 023135106 1,051,724 539,423 SH   SOLE   529,026 0 10,397
American Campus Communities, Inc. Common 024835100 11,666 420,404 SH   SOLE   221,780 0 198,624
American Express Co. Common 025816109 461,997 5,396,526 SH   SOLE   5,305,747 0 90,779
American Homes 4 Rent, Class A Common 02665T306 1,943 83,770 SH   SOLE   0 0 83,770
Apache Corp. Common 037411105 86,898 20,789,074 SH   SOLE   20,336,381 0 452,693
Applied Materials, Inc. Common 038222105 748,792 16,342,040 SH   SOLE   16,046,438 0 295,602
Aptiv PLC Common G6095L109 9,541 193,762 SH   SOLE   175,552 0 18,210
AvalonBay Communities, Inc. Common 053484101 16,583 112,680 SH   SOLE   62,240 0 50,440
Axalta Coating Systems Ltd. Common G0750C108 351 20,310 SH   SOLE   20,310 0 0
Baidu, Inc., Class A, ADR ADR 056752108 9,455 93,805 SH   SOLE   93,805 0 0
Bank of America Corp. Common 060505104 67,907 3,198,648 SH   SOLE   3,198,648 0 0
Bank of N.T. Butterfield & Son Ltd. Common G0772R208 56,688 3,328,708 SH   SOLE   3,328,708 0 0
Bank of New York Mellon Corp. Common 064058100 519,251 15,417,191 SH   SOLE   15,180,191 0 237,000
Berkshire Hathaway Inc., Class A Common 084670108 764,048 2,809 SH   SOLE   2,809 0 0
Berkshire Hathaway Inc., Class B Common 084670702 273,598 1,496,460 SH   SOLE   1,409,234 0 87,226
Booking Holdings, Inc. Common 09857L108 64,313 47,805 SH   SOLE   47,805 0 0
Boston Properties, Inc. Common 101121101 10,391 112,660 SH   SOLE   62,420 0 50,240
Brixmor Property Group, Inc. Common 11120U105 8,133 856,100 SH   SOLE   455,230 0 400,870
Cabot Oil & Gas Corp. Common 127097103 15,131 880,221 SH   SOLE   772,195 0 108,026
Camden Property Trust Common 133131102 14,419 181,970 SH   SOLE   99,530 0 82,440
Capital One Financial Corp. Common 14040H105 806,451 15,994,663 SH   SOLE   15,741,856 0 252,807
CarMax, Inc. Common 143130102 202 3,760 SH   SOLE   0 0 3,760
Charles Schwab Corp. Common 808513105 28,236 839,864 SH   SOLE   839,864 0 0
China Index Holdings Ltd., ADR ADR 16954W101 6,547 4,813,679 SH   SOLE   4,798,864 0 14,815
Chubb Ltd. Common H1467J104 194,458 1,741,055 SH   SOLE   1,715,550 0 25,505
Cigna Corp. Common 125523100 56,033 316,250 SH   SOLE   288,965 0 27,285
Coresite Realty Corp. Common 21870Q105 6,640 57,290 SH   SOLE   34,140 0 23,150
Cousins Properties, Inc. Common 222795502 9,396 321,005 SH   SOLE   174,870 0 146,135
Crown Castle International Corp. Common 22822V101 11,886 82,310 SH   SOLE   43,510 0 38,800
CVS Health Corp. Common 126650100 47,738 804,619 SH   SOLE   786,240 0 18,379
CyrusOne Inc. Common 23283R100 9,100 147,370 SH   SOLE   95,690 0 51,680
Davis Select Financial ETF 23908L108 32,738 1,959,793 SH   SOLE   1,959,793 0 0
Davis Select International ETF 23908L405 56,250 3,774,558 SH   SOLE   3,774,558 0 0
Davis Select U.S. Equity ETF 23908L207 62,917 3,234,982 SH   SOLE   3,234,982 0 0
Davis Select Worldwide ETF 23908L306 36,066 1,873,537 SH   SOLE   1,873,537 0 0
Digital Realty Trust, Inc. Common 253868103 14,165 101,970 SH   SOLE   55,250 0 46,720
Douglas Emmett, Inc. Common 25960P109 6,883 225,598 SH   SOLE   123,118 0 102,480
DXC Technology Co. Common 23355L106 907 69,539 SH   SOLE   69,539 0 0
EastGroup Properties, Inc. Common 277276101 2,273 21,760 SH   SOLE   13,500 0 8,260
Eaton Corp. PLC Common G29183103 32,425 417,358 SH   SOLE   376,029 0 41,329
Electronic Arts, Inc. Common 285512109 297 2,960 SH   SOLE   2,960 0 0
Equinix, Inc. Common 29444U700 23,253 37,230 SH   SOLE   20,050 0 17,180
Equity Residential Common 29476L107 15,329 248,410 SH   SOLE   124,015 0 124,395
Essex Property Trust, Inc. Common 297178105 14,983 68,031 SH   SOLE   37,520 0 30,511
Everest Re Group, Ltd. Common G3223R108 12,189 63,347 SH   SOLE   63,347 0 0
Expedia Group, Inc. Common 30212P303 4,821 85,682 SH   SOLE   85,682 0 0
Extra Space Storage Inc. Common 30225T102 7,900 82,500 SH   SOLE   45,030 0 37,470
Facebook, Inc, Class A Common 30303M102 698,601 4,188,254 SH   SOLE   4,119,906 0 68,348
Fang Holdings Ltd., Class A, ADR ADR 30711Y201 2,456 1,819,027 SH   SOLE   1,805,062 0 13,965
Federal Realty Investment Trust Common 313747206 7,237 97,000 SH   SOLE   49,070 0 47,930
FedEx Corp. Common 31428X106 338 2,790 SH   SOLE   2,790 0 0
GCI Liberty, Inc., Class A Common 36164V305 20,578 361,210 SH   SOLE   361,210 0 0
Goldman Sachs Group, Inc. Common 38141G104 32,801 212,183 SH   SOLE   212,183 0 0
Greenlight Capital Re, Ltd., Class A Common G4095J109 7,079 1,189,789 SH   SOLE   1,189,789 0 0
Healthpeak Properties, Inc. Common 42250P103 8,327 349,156 SH   SOLE   201,640 0 147,516
Hollysys Automation Technologies, Ltd. Common G45667105 86,393 6,697,115 SH   SOLE   6,697,115 0 0
Host Hotels & Resorts, Inc. Common 44107P104 11,577 1,048,610 SH   SOLE   529,990 0 518,620
HP, Inc. Common 40434L105 362 20,830 SH   SOLE   20,830 0 0
Hudson Pacific Properties, Inc. Common 444097109 13,359 526,780 SH   SOLE   274,770 0 252,010
Humana Inc. Common 444859102 23,119 73,623 SH   SOLE   65,530 0 8,093
Intel Corp. Common 458140100 454,631 8,400,422 SH   SOLE   8,241,668 0 158,754
iQIYI, Inc., Class A, ADR ADR 46267X108 19,043 1,069,826 SH   SOLE   1,069,826 0 0
iShares S&P 500 Value ETF ETF 464287408 1,750 18,178 SH   SOLE   18,178 0 0
JD.com, Inc., Class A, ADR ADR 47215P106 166,216 4,104,087 SH   SOLE   4,104,087 0 0
Jernigan Capital, Inc. Common 476405105 5,236 477,750 SH   SOLE   259,540 0 218,210
Johnson Controls International PLC Common G51502105 34,393 1,275,712 SH   SOLE   1,191,034 0 84,678
JPMorgan Chase & Co. Common 46625H100 650,998 7,230,895 SH   SOLE   7,123,590 0 107,305
Lam Research Corp. Common 512807108 589 2,455 SH   SOLE   2,455 0 0
Liberty Global plc, Series C Common G5480U120 14,134 899,654 SH   SOLE   899,654 0 0
Liberty Latin America Ltd., Class C Common G9001E128 8,420 820,670 SH   SOLE   820,670 0 0
Liberty TripAdvisor Hldgs Inc. - A Common 531465102 614 341,164 SH   SOLE   341,164 0 0
Life Storage, Inc. Common 53223X107 6,983 73,850 SH   SOLE   38,430 0 35,420
Loews Corp. Common 540424108 81,602 2,342,854 SH   SOLE   2,304,316 0 38,538
Magnolia Oil & Gas Corp., Class A Common 559663109 48,811 12,202,748 SH   SOLE   11,991,361 0 211,387
Markel Corp. Common 570535104 190,496 205,300 SH   SOLE   203,337 0 1,963
Microsoft Corp. Common 594918104 90,800 575,739 SH   SOLE   542,412 0 33,327
New Oriental Education & Tech ADR ADR 647581107 733,349 6,775,217 SH   SOLE   6,712,886 0 62,331
Noah Holdings Ltd., ADS ADR 65487X102 23,641 914,173 SH   SOLE   914,173 0 0
Novartis AG - ADR ADR 66987V109 2,295 27,840 SH   SOLE   27,840 0 0
Oracle Corp. Common 68389X105 104,098 2,153,893 SH   SOLE   2,092,056 0 61,837
Ovintiv Inc. Common 69047Q102 20,137 7,458,309 SH   SOLE   7,369,414 0 88,895
Owens Corning Common 690742101 27,451 707,326 SH   SOLE   642,554 0 64,772
PNC Financial Services Group, Inc. Common 693475105 46,103 481,645 SH   SOLE   481,645 0 0
PPG Industries, Inc. Common 693506107 457 5,470 SH   SOLE   5,470 0 0
Prologis, Inc. Common 74340W103 23,924 297,672 SH   SOLE   169,632 0 128,040
Public Storage, Inc. Common 74460D109 18,324 92,260 SH   SOLE   50,160 0 42,100
Qorvo, Inc. Common 74736K101 36,519 452,915 SH   SOLE   410,038 0 42,877
Quest Diagnostics, Inc. Common 74834L100 310,509 3,866,858 SH   SOLE   3,744,871 0 121,987
Quotient Technology, Inc. Common 749119103 25,024 3,849,779 SH   SOLE   3,649,595 0 200,184
Raytheon Co. Common 755111507 136,409 1,040,096 SH   SOLE   1,018,142 0 21,954
Retail Opportunity Investments Corp. Common 76131N101 3,082 371,765 SH   SOLE   178,665 0 193,100
Rexford Industrial Realty, Inc. Common 76169C100 17,804 434,150 SH   SOLE   223,160 0 210,990
SAP SE, ADR ADR 803054204 13,451 121,728 SH   SOLE   111,892 0 9,836
Simon Property Group, Inc. Common 828806109 16,190 295,120 SH   SOLE   164,880 0 130,240
SL Green Realty Corp. Common 78440X101 4,929 114,360 SH   SOLE   57,510 0 56,850
Slack Technologies, Inc., Class A Common 83088V102 749 27,900 SH   SOLE   27,900 0 0
State Street Corp. Common 857477103 35,780 671,664 SH   SOLE   671,664 0 0
STORE Capital Corp. Common 862121100 3,267 180,300 SH   SOLE   93,310 0 86,990
Sunstone Hotel Investors, Inc. Common 867892101 7,156 821,600 SH   SOLE   438,020 0 383,580
Terreno Realty Corp. Common 88146M101 17,662 341,287 SH   SOLE   171,264 0 170,023
Texas Instruments, Inc. Common 882508104 368,169 3,684,270 SH   SOLE   3,602,795 0 81,475
Trip Com Group Ltd ADR 89677Q107 11,516 491,075 SH   SOLE   491,075 0 0
U.S. Bancorp Common 902973304 451,369 13,102,156 SH   SOLE   12,942,381 0 159,775
Ulta Beauty, Inc. Common 90384S303 541 3,080 SH   SOLE   3,080 0 0
United Technologies Corp. Common 913017109 823,769 8,732,839 SH   SOLE   8,559,944 0 172,895
UnitedHealth Group, Inc. Common 91324P102 53,770 215,616 SH   SOLE   194,833 0 20,783
Ventas, Inc. Common 92276F100 6,105 227,800 SH   SOLE   138,400 0 89,400
VMware, Inc. Common 928563402 3,066 25,320 SH   SOLE   25,320 0 0
Vornado Realty Trust Common 929042109 7,271 200,790 SH   SOLE   100,054 0 100,736
Wells Fargo & Co. Common 949746101 793,156 27,636,091 SH   SOLE   27,148,978 0 487,113
Welltower Inc. Common 95040Q104 10,631 232,210 SH   SOLE   124,380 0 107,830
Xilinx, Inc. Common 983919101 443 5,685 SH   SOLE   5,685 0 0
Yirendai Ltd., ADR ADR 98585L100 9,496 2,368,137 SH   SOLE   2,368,137 0 0