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 | 2,865 | 52,990 | SH | | SOLE | | 52,990 | 0 | 0 |
Acadia Realty Trust | Common | 004239109 | 27,794 | 989,477 | SH | | SOLE | | 306,087 | 0 | 683,390 |
Ace Limited | Common | H0023R105 | 343,226 | 3,309,858 | SH | | SOLE | | 3,128,062 | 0 | 181,796 |
Activision Blizzard, Inc. | Common | 00507V109 | 343,915 | 15,423,966 | SH | | SOLE | | 14,506,422 | 0 | 917,544 |
AES Corp. | Common | 00130H105 | 6,476 | 416,466 | SH | | SOLE | | 416,466 | 0 | 0 |
AES Trust III,6.75%,10/15/29 | Preferred | 00808N202 | 7,518 | 145,027 | SH | | SOLE | | 145,027 | 0 | 0 |
Agilent Technologies, Inc. | Common | 00846U101 | 171,857 | 2,991,923 | SH | | SOLE | | 2,810,021 | 0 | 181,902 |
Air Products & Chemicals, Inc. | Common | 009158106 | 616,460 | 4,792,882 | SH | | SOLE | | 4,503,921 | 0 | 288,961 |
Alexander & Baldwin, Inc. | Common | 014491104 | 7,215 | 174,070 | SH | | SOLE | | 173,910 | 0 | 160 |
Alexandria Real Estate Equities, Inc. | Common | 015271109 | 30,363 | 391,074 | SH | | SOLE | | 130,896 | 0 | 260,178 |
Alleghany Corp. | Common | 017175100 | 140,733 | 321,251 | SH | | SOLE | | 305,523 | 0 | 15,728 |
Allegheny Technologies, Inc. | Common | 01741R102 | 14,361 | 318,421 | SH | | SOLE | | 318,421 | 0 | 0 |
Altera Corp. | Common | 021441100 | 1,820 | 52,370 | SH | | SOLE | | 52,370 | 0 | 0 |
Amazon.Com, Inc. | Common | 023135106 | 760,486 | 2,341,553 | SH | | SOLE | | 2,212,875 | 0 | 128,678 |
American Campus Communities Inc. | Common | 024835100 | 19,943 | 521,510 | SH | | SOLE | | 160,985 | 0 | 360,525 |
American Express Co. | Common | 025816109 | 2,430,260 | 25,616,662 | SH | | SOLE | | 24,112,243 | 0 | 1,504,419 |
American International Group Inc. | Common | 026874784 | 35,923 | 658,180 | SH | | SOLE | | 658,180 | 0 | 0 |
American Tower Corp. | Common | 03027X100 | 39,827 | 442,616 | SH | | SOLE | | 149,402 | 0 | 293,214 |
Angie's List Inc. | Common | 034754101 | 25,940 | 2,172,487 | SH | | SOLE | | 1,985,180 | 0 | 187,307 |
Apple Inc. | Common | 037833100 | 306 | 3,290 | SH | | SOLE | | 3,290 | 0 | 0 |
Applied Materials, Inc. | Common | 038222105 | 7,448 | 330,324 | SH | | SOLE | | 290,357 | 0 | 39,967 |
Autozone Inc | Common | 053332102 | 391 | 730 | SH | | SOLE | | 730 | 0 | 0 |
Avalonbay Communities, Inc. | Common | 053484101 | 37,467 | 263,499 | SH | | SOLE | | 92,854 | 0 | 170,645 |
Bank of America Corp. | Common | 060505104 | 9,824 | 639,186 | SH | | SOLE | | 639,186 | 0 | 0 |
Bank of New York Mellon Corp. | Common | 064058100 | 2,489,542 | 66,434,305 | SH | | SOLE | | 62,947,735 | 0 | 3,486,570 |
Berkshire Hathaway Inc., Class A | Common | 084670108 | 1,530,218 | 8,058 | SH | | SOLE | | 7,650 | 0 | 408 |
Berkshire Hathaway Inc., Class B | Common | 084670702 | 248,284 | 1,961,337 | SH | | SOLE | | 1,782,469 | 0 | 178,868 |
Biomed Realty Trust Inc. | Common | 09063H107 | 15,921 | 729,330 | SH | | SOLE | | 170,304 | 0 | 559,026 |
Boardwalk Pipeline Partners | Partnership | 096627104 | 409 | 22,090 | SH | | SOLE | | 22,090 | 0 | 0 |
Boston Properties, Inc. | Common | 101121101 | 23,777 | 201,191 | SH | | SOLE | | 64,921 | 0 | 136,270 |
Brandywine Realty Trust | Common | 105368203 | 14,267 | 914,566 | SH | | SOLE | | 306,681 | 0 | 607,885 |
Brookfield Asset Management Inc., Class A | Foreign | 112585104 | 277,471 | 6,303,394 | SH | | SOLE | | 5,976,573 | 0 | 326,821 |
Canadian Natural Resources Ltd. | Foreign | 136385101 | 863,033 | 18,798,800 | SH | | SOLE | | 17,773,909 | 0 | 1,024,891 |
CarMax, Inc. | Common | 143130102 | 583,773 | 11,224,343 | SH | | SOLE | | 10,560,257 | 0 | 664,086 |
Cemex SA - ADR | ADR | 151290889 | 299 | 22,635 | SH | | SOLE | | 22,635 | 0 | 0 |
Charles Schwab Corp. | Common | 808513105 | 534,285 | 19,838,885 | SH | | SOLE | | 18,774,341 | 0 | 1,064,544 |
Citigroup Inc. | Common | 172967424 | 10,819 | 229,699 | SH | | SOLE | | 229,699 | 0 | 0 |
Coca Cola Co. | Common | 191216100 | 268 | 6,336 | SH | | SOLE | | 0 | 0 | 6,336 |
Colgate-Palmolive Co. | Common | 194162103 | 13,205 | 193,664 | SH | | SOLE | | 170,632 | 0 | 23,032 |
Coresite Realty Corp. | Common | 21870Q105 | 11,935 | 360,905 | SH | | SOLE | | 121,085 | 0 | 239,820 |
Corporate Office Properties Trust | Common | 22002T108 | 28,187 | 1,013,567 | SH | | SOLE | | 288,927 | 0 | 724,640 |
Costco Wholesale Corp. | Common | 22160K105 | 1,157,332 | 10,049,555 | SH | | SOLE | | 9,504,891 | 0 | 544,664 |
Coupons.com, Inc. | Common | 22265J102 | 13,158 | 500,120 | SH | | SOLE | | 500,120 | 0 | 0 |
Cousins Properties, Inc. | Common | 222795106 | 3,813 | 306,290 | SH | | SOLE | | 94,500 | 0 | 211,790 |
Ctrip.com International, Ltd. ADR | ADR | 22943F100 | 19,441 | 303,580 | SH | | SOLE | | 303,580 | 0 | 0 |
CubeSmart | Common | 229663109 | 18,508 | 1,010,259 | SH | | SOLE | | 309,964 | 0 | 700,295 |
CVS Caremark Corp. | Common | 126650100 | 679,269 | 9,012,151 | SH | | SOLE | | 8,490,249 | 0 | 521,902 |
DCT Industrial Trust Inc. | Common | 233153105 | 19,539 | 2,379,890 | SH | | SOLE | | 847,135 | 0 | 1,532,755 |
DDR Corporation | Common | 23317H102 | 4,486 | 254,443 | SH | | SOLE | | 254,218 | 0 | 225 |
Devon Energy Corp. | Common | 25179M103 | 15,215 | 191,620 | SH | | SOLE | | 191,620 | 0 | 0 |
Diageo PLC - ADR | ADR | 25243Q205 | 119,653 | 940,442 | SH | | SOLE | | 784,040 | 0 | 156,402 |
Disney Walt Holdings | Common | 254687106 | 243,290 | 2,837,675 | SH | | SOLE | | 2,671,845 | 0 | 165,830 |
DuPont Fabros Technology Inc. | Common | 26613Q106 | 15,883 | 589,140 | SH | | SOLE | | 156,528 | 0 | 432,612 |
Eastgroup Properties, Inc. | Common | 277276101 | 16,369 | 254,847 | SH | | SOLE | | 90,554 | 0 | 164,293 |
Ecolab Inc. | Common | 278865100 | 474,796 | 4,264,985 | SH | | SOLE | | 4,012,551 | 0 | 252,434 |
Education Realty Trust, Inc. | Common | 28140H104 | 14,902 | 1,387,528 | SH | | SOLE | | 364,160 | 0 | 1,023,368 |
EOG Resources, Inc. | Common | 26875P101 | 752,039 | 6,436,091 | SH | | SOLE | | 6,058,131 | 0 | 377,960 |
EPR Properties | Common | 26884U109 | 11,535 | 206,453 | SH | | SOLE | | 62,863 | 0 | 143,590 |
Equity Lifestyle Properties, Inc. | Common | 29472R108 | 11,950 | 270,611 | SH | | SOLE | | 84,361 | 0 | 186,250 |
Essex Property Trust, Inc. | Common | 297178105 | 24,453 | 132,244 | SH | | SOLE | | 45,545 | 0 | 86,699 |
Everest Re Group, Ltd. | Common | G3223R108 | 162,139 | 1,010,277 | SH | | SOLE | | 970,312 | 0 | 39,965 |
Expeditors Int'l of Washington Inc. | Common | 302130109 | 5,683 | 128,680 | SH | | SOLE | | 128,680 | 0 | 0 |
Express Scripts Holding Co. | Common | 30219G108 | 742,071 | 10,703,208 | SH | | SOLE | | 10,010,497 | 0 | 692,711 |
Fairchild Semiconductor International | Common | 303726103 | 7,184 | 460,527 | SH | | SOLE | | 460,527 | 0 | 0 |
Federal Realty Investment Trust | Common | 313747206 | 17,571 | 145,313 | SH | | SOLE | | 53,367 | 0 | 91,946 |
FedEx Corp. | Common | 31428X106 | 12,323 | 81,402 | SH | | SOLE | | 71,192 | 0 | 10,210 |
First Industrial Realty Trust, Inc. | Common | 32054K103 | 4,041 | 214,515 | SH | | SOLE | | 72,450 | 0 | 142,065 |
First Solar, Inc. | Common | 336433107 | 286 | 4,030 | SH | | SOLE | | 4,030 | 0 | 0 |
Forest City Ent FCE 4.25 | Bond | 345550AP2 | 10,693 | 9,463,000 | PRN | | SOLE | | 9,463,000 | 0 | 0 |
Forest City Ent FCE 5 | Bond | 345550AM9 | 1,786 | 1,120,000 | PRN | | SOLE | | 1,120,000 | 0 | 0 |
Forest City Enterprises Inc. Class A | Common | 345550107 | 15,758 | 793,037 | SH | | SOLE | | 792,509 | 0 | 528 |
Franklin Resources Inc | Common | 354613101 | 231 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
Freeport-McMoRan Copper & Gold, Inc. | Common | 35671D857 | 6,441 | 176,464 | SH | | SOLE | | 176,464 | 0 | 0 |
General Electric Co. | Common | 369604103 | 8,891 | 338,320 | SH | | SOLE | | 338,320 | 0 | 0 |
General Growth Properties Inc. | Common | 370023103 | 23,475 | 996,400 | SH | | SOLE | | 339,420 | 0 | 656,980 |
Goldman Sachs Group Inc. | Common | 38141G104 | 24,097 | 143,912 | SH | | SOLE | | 143,912 | 0 | 0 |
Google Inc. Class A | Common | 38259P508 | 1,154,489 | 1,974,580 | SH | | SOLE | | 1,863,314 | 0 | 111,266 |
Google Inc. Class C | Common | 38259P706 | 1,136,268 | 1,975,118 | SH | | SOLE | | 1,863,774 | 0 | 111,344 |
Grubhub Inc | Common | 400110102 | 10,785 | 304,560 | SH | | SOLE | | 304,560 | 0 | 0 |
Grupo Televisa S.A.B. ADR | ADR | 40049J206 | 24,196 | 705,203 | SH | | SOLE | | 705,203 | 0 | 0 |
Halliburton Co. | Common | 406216101 | 601 | 8,460 | SH | | SOLE | | 8,460 | 0 | 0 |
Harley-Davidson, Inc. | Common | 412822108 | 182,322 | 2,610,372 | SH | | SOLE | | 2,457,398 | 0 | 152,974 |
Hewlett Packard Co. | Common | 428236103 | 140,903 | 4,183,539 | SH | | SOLE | | 3,933,016 | 0 | 250,523 |
Highwoods Properties Inc. | Common | 431284108 | 8,329 | 198,537 | SH | | SOLE | | 66,377 | 0 | 132,160 |
Host Hotels & Resorts Inc. | Common | 44107P104 | 21,319 | 968,592 | SH | | SOLE | | 343,869 | 0 | 624,723 |
Hunter Douglas N.V. | Foreign | 5291810NL | 83,761 | 1,747,926 | SH | | SOLE | | 1,691,306 | 0 | 56,620 |
ICICI Bank Limited ADR | ADR | 45104G104 | 6,774 | 135,757 | SH | | SOLE | | 135,757 | 0 | 0 |
IDEXX Laboratories, Inc. | Common | 45168D104 | 24,745 | 185,256 | SH | | SOLE | | 170,002 | 0 | 15,254 |
Intel Corp 3.25 8/1/39 | Bond | 458140AF7 | 19,360 | 12,551,000 | PRN | | SOLE | | 12,551,000 | 0 | 0 |
Intel Corp. | Common | 458140100 | 5,512 | 178,377 | SH | | SOLE | | 157,858 | 0 | 20,519 |
International Business Machines | Common | 459200101 | 3,926 | 21,659 | SH | | SOLE | | 18,349 | 0 | 3,310 |
International Rectifier Corp. | Common | 460254105 | 8,632 | 309,390 | SH | | SOLE | | 309,390 | 0 | 0 |
JD.com Inc ADR | ADR | 47215P106 | 20,431 | 716,832 | SH | | SOLE | | 664,580 | 0 | 52,252 |
JPMorgan Chase & Co. | Common | 46625H100 | 640,948 | 11,123,809 | SH | | SOLE | | 10,497,208 | 0 | 626,601 |
Jumei International ADR | ADR | 48138L107 | 2,720 | 100,000 | SH | | SOLE | | 100,000 | 0 | 0 |
Kohls Corp. | Common | 500255104 | 12,386 | 235,110 | SH | | SOLE | | 235,110 | 0 | 0 |
Laboratory Corporation of America Hldg | Common | 50540R409 | 690,874 | 6,747,256 | SH | | SOLE | | 6,345,899 | 0 | 401,357 |
Las Vegas Sands Corp. | Common | 517834107 | 763,934 | 10,023,021 | SH | | SOLE | | 9,467,459 | 0 | 555,562 |
LaSalle Hotel Properties | Common | 517942108 | 14,961 | 423,936 | SH | | SOLE | | 135,325 | 0 | 288,611 |
Liberty Global Plc Series C | Common | G5480U120 | 890,817 | 21,054,947 | SH | | SOLE | | 19,884,283 | 0 | 1,170,664 |
Liberty Interactive Corp. Series A | Common | 53071M104 | 291,822 | 9,940,041 | SH | | SOLE | | 9,421,563 | 0 | 518,478 |
Liberty Property Trust | Common | 531172104 | 26,940 | 710,248 | SH | | SOLE | | 192,036 | 0 | 518,212 |
Liberty Ventures Series A | Common | 53071M880 | 85,062 | 1,152,602 | SH | | SOLE | | 1,099,858 | 0 | 52,744 |
Loews Corp. | Common | 540424108 | 511,752 | 11,628,512 | SH | | SOLE | | 10,963,102 | 0 | 665,410 |
Lowes Cos Inc. | Common | 548661107 | 13,536 | 282,149 | SH | | SOLE | | 251,466 | 0 | 30,683 |
Markel Corp. | Common | 570535104 | 215,790 | 329,134 | SH | | SOLE | | 319,416 | 0 | 9,718 |
Marsh & McLennan Co. | Common | 571748102 | 27,256 | 525,970 | SH | | SOLE | | 525,970 | 0 | 0 |
Martin Marietta Materials, Inc. | Common | 573284106 | 94,674 | 716,959 | SH | | SOLE | | 679,189 | 0 | 37,770 |
Masco Corp. | Common | 574599106 | 9,528 | 429,180 | SH | | SOLE | | 429,180 | 0 | 0 |
Mastercard, Inc. | Common | 57636Q104 | 1,422 | 19,350 | SH | | SOLE | | 19,350 | 0 | 0 |
Microsoft Corp. | Common | 594918104 | 402,527 | 9,651,997 | SH | | SOLE | | 9,054,063 | 0 | 597,934 |
Molycorp 3.25% | Bond | 608753AA7 | 5,550 | 7,500,000 | PRN | | SOLE | | 7,500,000 | 0 | 0 |
Molycorp 6% | Bond | 608753AF6 | 6,151 | 9,500,000 | PRN | | SOLE | | 9,500,000 | 0 | 0 |
Monsanto Co. | Common | 61166W101 | 248,887 | 1,995,210 | SH | | SOLE | | 1,870,249 | 0 | 124,961 |
Moody's Corp. | Common | 615369105 | 210,936 | 2,406,257 | SH | | SOLE | | 2,275,919 | 0 | 130,338 |
Nabors Industries Ltd. | Common | G6359F103 | 12,695 | 432,240 | SH | | SOLE | | 432,240 | 0 | 0 |
NetEase Inc. ADR | ADR | 64110W102 | 9,470 | 120,850 | SH | | SOLE | | 120,850 | 0 | 0 |
Netflix Inc. | Common | 64110L106 | 184,334 | 418,368 | SH | | SOLE | | 395,756 | 0 | 22,612 |
Nike Inc | Common | 654106103 | 9,486 | 122,321 | SH | | SOLE | | 108,024 | 0 | 14,297 |
Occidental Petroleum Corp. | Common | 674599105 | 87,611 | 853,711 | SH | | SOLE | | 798,024 | 0 | 55,687 |
Oracle Corporation | Common | 68389X105 | 348,185 | 8,590,789 | SH | | SOLE | | 8,061,881 | 0 | 528,908 |
PACCAR Inc. | Common | 693718108 | 510,273 | 8,121,422 | SH | | SOLE | | 7,607,445 | 0 | 513,977 |
Philip Morris International Inc. | Common | 718172109 | 190,534 | 2,259,796 | SH | | SOLE | | 2,122,966 | 0 | 136,830 |
Post Properties Inc. | Common | 737464107 | 26,660 | 498,683 | SH | | SOLE | | 155,896 | 0 | 342,787 |
Praxair, Inc. | Common | 74005P104 | 248,147 | 1,868,017 | SH | | SOLE | | 1,760,977 | 0 | 107,040 |
Progressive Corp. | Common | 743315103 | 14,469 | 570,530 | SH | | SOLE | | 570,530 | 0 | 0 |
Qihoo 360 Technology Co. ADR | ADR | 74734M109 | 203,618 | 2,212,357 | SH | | SOLE | | 2,092,071 | 0 | 120,286 |
Quanta Services, Inc. | Common | 74762E102 | 11,712 | 338,680 | SH | | SOLE | | 338,680 | 0 | 0 |
Quest Diagnostics Inc. | Common | 74834L100 | 274,240 | 4,672,681 | SH | | SOLE | | 4,406,640 | 0 | 266,041 |
Regency Centers Corporation | Common | 758849103 | 8,324 | 149,497 | SH | | SOLE | | 0 | 0 | 149,497 |
Republic Services, Inc. | Common | 760759100 | 901 | 23,720 | SH | | SOLE | | 23,720 | 0 | 0 |
Rockwell Automation Inc. | Common | 773903109 | 18,697 | 149,377 | SH | | SOLE | | 141,618 | 0 | 7,759 |
Salesforce.com Inc | Common | 79466L302 | 7,910 | 136,227 | SH | | SOLE | | 121,973 | 0 | 14,254 |
SAP AG ADR | ADR | 803054204 | 12,500 | 162,343 | SH | | SOLE | | 145,428 | 0 | 16,915 |
SBA Communications Corp. Class A | Common | 78388J106 | 6,466 | 63,207 | SH | | SOLE | | 63,151 | 0 | 56 |
Schlumberger Ltd. | Common | 806857108 | 122,042 | 1,034,694 | SH | | SOLE | | 966,823 | 0 | 67,871 |
Sigma-Aldrich Corp. | Common | 826552101 | 24,319 | 239,643 | SH | | SOLE | | 208,326 | 0 | 31,317 |
Simon Property Group Inc. | Common | 828806109 | 43,336 | 260,619 | SH | | SOLE | | 87,097 | 0 | 173,522 |
Sinovac Biotech Ltd. | Foreign | P8696W104 | 7,053 | 1,250,546 | SH | | SOLE | | 1,250,546 | 0 | 0 |
Soufun Holdings Ltd Class A ADR | ADR | 836034108 | 142,500 | 14,556,098 | SH | | SOLE | | 13,825,578 | 0 | 730,520 |
Sysco Corp. | Common | 871829107 | 393,363 | 10,503,009 | SH | | SOLE | | 9,934,624 | 0 | 568,385 |
Tanger Factory Outlet Centers, Inc. | Common | 875465106 | 20,073 | 574,012 | SH | | SOLE | | 191,657 | 0 | 382,355 |
Taubman Centers, Inc. | Common | 876664103 | 9,950 | 131,253 | SH | | SOLE | | 77,897 | 0 | 53,356 |
Terreno Realty Corp. | Common | 88146M101 | 11,844 | 612,725 | SH | | SOLE | | 204,492 | 0 | 408,233 |
Texas Instruments, Inc. | Common | 882508104 | 596,504 | 12,481,835 | SH | | SOLE | | 11,758,884 | 0 | 722,951 |
Textron Inc. | Common | 883203101 | 196,669 | 5,136,020 | SH | | SOLE | | 4,845,459 | 0 | 290,561 |
The Priceline Group Inc. | Common | 741503403 | 430,457 | 357,811 | SH | | SOLE | | 336,383 | 0 | 21,428 |
The Sherwin Williams Co. | Common | 824348106 | 6,797 | 32,850 | SH | | SOLE | | 29,319 | 0 | 3,531 |
Tiffany & Co. | Common | 886547108 | 501 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
Time Warner Cable Inc. | Common | 88732J207 | 13,113 | 89,017 | SH | | SOLE | | 78,329 | 0 | 10,688 |
TJX Companies Inc. | Common | 872540109 | 5,447 | 102,493 | SH | | SOLE | | 91,018 | 0 | 11,475 |
Toronto Dominion Bank | Foreign | 891160509 | 329 | 6,390 | SH | | SOLE | | 6,390 | 0 | 0 |
Transdigm Group Inc. | Common | 893641100 | 18,157 | 108,556 | SH | | SOLE | | 101,115 | 0 | 7,441 |
Transocean Ltd. | Common | H8817H100 | 11,886 | 263,966 | SH | | SOLE | | 263,966 | 0 | 0 |
Twenty-First Century Fox Inc Class A | Common | 90130A101 | 10,396 | 295,756 | SH | | SOLE | | 295,756 | 0 | 0 |
Twenty-First Century Fox Inc Class B | Common | 90130A200 | 12,861 | 375,713 | SH | | SOLE | | 344,620 | 0 | 31,093 |
Twitter Inc. | Common | 90184L102 | 46,429 | 1,133,250 | SH | | SOLE | | 1,082,070 | 0 | 51,180 |
Tyson Foods Inc. | Common | 902494103 | 8,364 | 222,810 | SH | | SOLE | | 222,810 | 0 | 0 |
Ultra Petroleum Corp | Common | 903914109 | 139,250 | 4,690,130 | SH | | SOLE | | 4,458,789 | 0 | 231,341 |
Unilever NV - NY Shares | ADR | 904784709 | 8,594 | 196,426 | SH | | SOLE | | 169,843 | 0 | 26,583 |
United Parcel Service, Inc., Class B | Common | 911312106 | 243 | 2,372 | SH | | SOLE | | 0 | 0 | 2,372 |
United Rental 4% Convertible Bond | Bond | 911363AL3 | 12,946 | 1,377,000 | PRN | | SOLE | | 1,377,000 | 0 | 0 |
UnitedHealth Group Inc. | Common | 91324P102 | 1,105,475 | 13,522,334 | SH | | SOLE | | 12,708,343 | 0 | 813,991 |
Universal Health Services, Inc. | Common | 913903100 | 13,943 | 145,600 | SH | | SOLE | | 145,600 | 0 | 0 |
US Bancorp | Common | 902973304 | 31,311 | 722,779 | SH | | SOLE | | 676,236 | 0 | 46,543 |
US Steel Corp. Conv. Bond 2.75% 4/1/19 | Bond | 912909AH1 | 15,834 | 12,750,000 | PRN | | SOLE | | 12,750,000 | 0 | 0 |
Valeant Pharmaceuticals International | Common | 91911K102 | 397,815 | 3,153,748 | SH | | SOLE | | 2,969,035 | 0 | 184,713 |
Ventas, Inc. | Common | 92276F100 | 16,741 | 261,166 | SH | | SOLE | | 85,312 | 0 | 175,854 |
Vipshop Holdings Ltd. ADS | ADR | 92763W103 | 77,119 | 410,745 | SH | | SOLE | | 377,863 | 0 | 32,882 |
Visa Inc. Class A | Common | 92826C839 | 401,808 | 1,907,010 | SH | | SOLE | | 1,814,941 | 0 | 92,069 |
Vornado Realty Trust | Common | 929042109 | 19,423 | 181,981 | SH | | SOLE | | 66,084 | 0 | 115,897 |
W.R. Berkley Corp. | Common | 084423102 | 235 | 5,080 | SH | | SOLE | | 5,080 | 0 | 0 |
Washington Prime Group Inc | Common | 939647103 | 2,442 | 130,307 | SH | | SOLE | | 43,547 | 0 | 86,760 |
Waste Connections Inc. | Common | 941053100 | 11,673 | 240,440 | SH | | SOLE | | 240,440 | 0 | 0 |
WellPoint Inc. | Common | 94973V107 | 6,144 | 57,098 | SH | | SOLE | | 50,751 | 0 | 6,347 |
Wells Fargo & Co. | Common | 949746101 | 2,474,976 | 47,086,993 | SH | | SOLE | | 44,392,516 | 0 | 2,694,477 |
Wells Fargo & Co. Warrants | Warrant | 949746119 | 10,067 | 466,489 | SH | | SOLE | | 466,489 | 0 | 0 |
Wesco Aircraft Holdings, Inc. | Common | 950814103 | 103,196 | 5,170,380 | SH | | SOLE | | 4,891,774 | 0 | 278,606 |
Weyerhaeuser Co. | Common | 962166104 | 19,323 | 583,954 | SH | | SOLE | | 136,029 | 0 | 447,925 |
Whole Foods Market Inc. | Common | 966837106 | 9,692 | 250,884 | SH | | SOLE | | 250,884 | 0 | 0 |
Youku Tudou Inc. ADR | ADR | 98742U100 | 34,618 | 1,451,514 | SH | | SOLE | | 1,337,728 | 0 | 113,786 |