13F-HR 1 sec13f063012.txt DAVIS SELECTED ADVISERS, L.P. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F-HR FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2012 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: DAVIS SELECTED ADVISERS, LP Address: 2949 East Elvira Road, Suite 101 Tucson, Arizona 85756 13F File Number: 28-04121 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of reporting Manager: Name: Sharra Haynes Title: Chief Compliance Officer Phone: (520) 434-3735 Signature, Place, and Date of Signing: Sharra Haynes, Tucson, Arizona August 14, 2012 Report Type (Check only one.): [ ] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [X] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: None FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Mangers: 1 Form 13F Information Table Entry Total: 278 Form 13F Information Table Value Total: $43.1 Billion List of Other Included Managers: 1) Directed Services, LLC #028-14593 Form 13F Information Table Title Value Shares SH/ PUT/ Invstmt Othr Voting Authority Name of Issuer of Class CUSIP (X$1000) Prn Amt PRN CALL Dscretn Mgrs Sole Shared None ------------------------------ ---------- -------- -------- --------- --- ---- ------- ---- --------- ------ ---------- 3M company Common 88579Y101 11,586 129,306 SH SOLE 115,873 0 13,433 ABB Limited ADR ADR 000375204 1,748 107,080 SH SOLE 107,080 0 0 Ace Limited Common H0023R105 3,459 46,660 SH Defined 1 0 0 46,660 Ace Limited Common H0023R105 344,124 4,642,167 SH SOLE 4,355,696 0 286,471 Activision Blizzard, Inc. Common 00507V109 2,502 208,652 SH Defined 1 0 0 208,652 Activision Blizzard, Inc. Common 00507V109 252,252 21,038,522 SH SOLE 19,849,993 0 1,188,529 AES Corp. Common 00130H105 7,330 571,340 SH SOLE 571,340 0 0 AES Trust III,6.75%,10/15/29 Preferred 00808N202 8,065 163,758 SH SOLE 163,758 0 0 Agilent Technologies, Inc. Common 00846U101 1,669 42,528 SH Defined 1 0 0 42,528 Agilent Technologies, Inc. Common 00846U101 223,525 5,696,364 SH SOLE 5,224,662 0 471,702 Air Products & Chemicals, Inc. Common 009158106 5,473 67,790 SH Defined 1 0 0 67,790 Air Products & Chemicals, Inc. Common 009158106 598,863 7,418,097 SH SOLE 6,949,504 0 468,593 Alexandria Real Estate Equities Common 015271109 80,438 1,106,127 SH SOLE 123,185 0 982,942 Alleghany Corp. Common 017175100 6,454 18,995 SH Defined 1 0 0 18,995 Alleghany Corp. Common 017175100 803,527 2,365,053 SH SOLE 2,151,853 0 213,200 Allegheny Tech. 4.25% 6/1/14 Bond 01741RAD4 11,349 9,815,000 PRN SOLE 9,815,000 0 0 Allegheny Technologies, Inc. Common 01741R102 3,175 99,550 SH SOLE 99,550 0 0 Amazon.Com, Inc. Common 023135106 4,643 20,335 SH SOLE 19,773 0 562 America Movil S.A.B. de C.V. ADR 02364W105 1,579 60,580 SH Defined 1 0 0 60,580 America Movil S.A.B. de C.V. ADR 02364W105 163,297 6,266,207 SH SOLE 5,973,179 0 293,028 American Campus Comm. Inc. Common 024835100 56,784 1,262,427 SH SOLE 200,898 0 1,061,529 American Express Co. Common 025816109 25,125 431,620 SH Defined 1 0 0 431,620 American Express Co. Common 025816109 2,902,038 49,854,628 SH SOLE 46,513,896 0 3,340,732 American Tower Corp. Common 03027X100 15,834 226,488 SH SOLE 104,795 0 121,693 Ameriprise Financial, Inc. Common 03076C106 1,366 26,130 SH Defined 1 0 0 26,130 Ameriprise Financial, Inc. Common 03076C106 211,375 4,044,685 SH SOLE 3,767,282 0 277,403 Angie's List Inc. Common 034754101 19,595 1,237,032 SH SOLE 1,145,778 0 91,254 Aon Plc. Common G0408V102 607 12,980 SH Defined 1 0 0 12,980 Aon Plc. Common G0408V102 58,550 1,251,595 SH SOLE 1,175,895 0 75,700 Apache Corp Common 037411105 252 2,865 SH SOLE 2,865 0 0 Apple Inc. Common 037833100 632 1,083 SH SOLE 1,083 0 0 Applied Materials, Inc. Common 038222105 1,075 93,900 SH SOLE 93,350 0 550 AT&T Inc. Common 00206R102 3,097 86,850 SH SOLE 86,150 0 700 Autodesk, Inc. Common 052769106 875 25,000 SH SOLE 25,000 0 0 Automatic Data Processing Common 053015103 8,464 152,063 SH SOLE 138,116 0 13,947 Avalonbay Communities, Inc. Common 053484101 19,085 134,892 SH SOLE 58,716 0 76,176 Bank of America Corp. Common 060505104 394 48,219 SH Defined 1 0 0 48,219 Bank of America Corp. Common 060505104 37,752 4,615,182 SH SOLE 4,340,460 0 274,722 Bank of New York Mellon Common 064058100 20,510 934,390 SH Defined 1 0 0 934,390 Bank of New York Mellon Common 064058100 2,403,129 109,481,980 SH SOLE 102,282,663 0 7,199,317 Baxter International Inc. Common 071813109 749 14,100 SH Defined 1 0 0 14,100 Baxter International Inc. Common 071813109 52,477 987,331 SH SOLE 937,794 0 49,537 Becton, Dickinson and Co. Common 075887109 418 5,586 SH SOLE 5,586 0 0 Bed Bath + Beyond Inc. Common 075896100 13,759 222,637 SH Defined 1 0 0 222,637 Bed Bath + Beyond Inc. Common 075896100 1,445,584 23,391,333 SH SOLE 22,013,323 0 1,378,010 Berkshire Hathaway Inc., A Common 084670108 14,369 115 SH Defined 1 0 0 115 Berkshire Hathaway Inc., A Common 084670108 1,377,269 11,023 SH SOLE 10,639 0 384 Berkshire Hathaway Inc., B Common 084670702 298,933 3,587,338 SH SOLE 2,968,721 0 618,617 Biomed Realty Trust, Inc. Common 09063H107 26,145 1,399,611 SH SOLE 385,001 0 1,014,610 Boeing Co. Common 097023105 1,545 20,800 SH SOLE 20,600 0 200 Boston Properties, Inc. Common 101121101 20,431 188,529 SH SOLE 88,345 0 100,184 Brandywine Realty Trust Common 105368203 32,857 2,662,667 SH SOLE 423,039 0 2,239,628 Brookfield Asset Management Foreign 112585104 2,554 77,148 SH Defined 1 0 0 77,148 Brookfield Asset Management Foreign 112585104 348,891 10,540,513 SH SOLE 9,687,862 0 852,651 Canadian Natural Resources Foreign 136385101 9,660 359,760 SH Defined 1 0 0 359,760 Canadian Natural Resources Foreign 136385101 1,137,872 42,378,851 SH SOLE 39,954,262 0 2,424,589 Carefusion Corp. Common 14170T101 221 8,615 SH SOLE 8,615 0 0 CarMax, Inc. Common 143130102 2,812 108,399 SH Defined 1 0 0 108,399 CarMax, Inc. Common 143130102 256,290 9,880,103 SH SOLE 9,354,911 0 525,192 CBL & Associates Properties Common 124830100 38,983 1,995,045 SH SOLE 235,658 0 1,759,387 Cemex SA ADR 151290889 247 36,728 SH SOLE 36,728 0 0 Charles Schwab Corp. Common 808513105 2,343 181,180 SH Defined 1 0 0 181,180 Charles Schwab Corp. Common 808513105 245,375 18,977,199 SH SOLE 17,870,662 0 1,106,537 Chubb Corp. Common 171232101 8,250 113,288 SH SOLE 108,662 0 4,626 Citigroup Inc. Common 172967424 964 35,186 SH SOLE 35,186 0 0 Citigroup Inc. 7.5% 12/15/12 Preferred 172967416 12,004 140,300 SH SOLE 140,300 0 0 CME Group Inc. Common 12572Q105 855 3,190 SH Defined 1 0 0 3,190 CME Group Inc. Common 12572Q105 84,689 315,873 SH SOLE 298,656 0 17,217 CNinsure Inc. ADR 18976M103 1,649 241,144 SH SOLE 241,144 0 0 Coca Cola Co. Common 191216100 6,126 78,350 SH Defined 1 0 0 78,350 Coca Cola Co. Common 191216100 699,545 8,946,732 SH SOLE 8,343,614 0 603,118 Colgate-Palmolive Co. Common 194162103 578 5,557 SH SOLE 5,125 0 432 ConocoPhillips Common 20825C104 2,092 37,445 SH SOLE 36,550 0 895 Coresite Realty Corp. Common 21870Q105 15,145 586,556 SH SOLE 227,574 0 358,982 Corporate Office Prop. Trust Common 22002T108 44,261 1,882,631 SH SOLE 184,234 0 1,698,397 Costco Wholesale Corp. Common 22160K105 15,738 165,665 SH Defined 1 0 0 165,665 Costco Wholesale Corp. Common 22160K105 1,932,443 20,341,506 SH SOLE 18,920,036 0 1,421,470 Ctrip.com International, Ltd. ADR 22943F100 4,992 297,830 SH SOLE 297,830 0 0 Cummins Inc. Common 231021106 1,605 16,565 SH SOLE 16,565 0 0 CVS Caremark Corp. Common 126650100 26,039 557,227 SH Defined 1 0 0 557,227 CVS Caremark Corp. Common 126650100 2,869,080 61,396,955 SH SOLE 57,622,440 0 3,774,515 DCT Industrial Trust Inc. Common 233153105 65,661 10,422,363 SH SOLE 1,242,523 0 9,179,840 DDR Corporation Common 23317H102 12,757 871,363 SH SOLE 399,340 0 472,023 Deere & Co Common 244199105 13,228 163,567 SH SOLE 148,589 0 14,978 Devon Energy Corp. Common 25179M103 4,735 81,650 SH Defined 1 0 0 81,650 Devon Energy Corp. Common 25179M103 572,372 9,870,187 SH SOLE 9,200,822 0 669,365 Diageo PLC ADR 25243Q205 4,855 47,100 SH Defined 1 0 0 47,100 Diageo PLC ADR 25243Q205 294,973 2,861,866 SH SOLE 2,406,230 0 455,636 Digital Realty Trust Inc. Common 253868103 72,812 969,918 SH SOLE 134,203 0 835,715 Disney Walt Holdings Common 254687106 10,320 212,780 SH Defined 1 0 0 212,780 Disney Walt Holdings Common 254687106 1,149,350 23,697,940 SH SOLE 22,134,616 0 1,563,324 Dominion Resources, Inc. Common 25746U109 344 6,370 SH SOLE 6,150 0 220 Du Pont E I de Nemours & Co. Common 263534109 2,503 49,505 SH SOLE 49,100 0 405 DuPont Fabros Technology Inc. Common 26613Q106 28,886 1,011,416 SH SOLE 153,269 0 858,147 Eastgroup Properties, Inc. Common 277276101 43,146 809,494 SH SOLE 139,060 0 670,434 Ecolab Inc. Common 278865100 2,719 39,680 SH Defined 1 0 0 39,680 Ecolab Inc. Common 278865100 267,864 3,908,718 SH SOLE 3,692,228 0 216,490 Education Realty Trust, Inc. Common 28140H104 12,194 1,100,554 SH SOLE 482,667 0 617,887 Eli Lilly and Co. Common 532457108 13,981 325,829 SH SOLE 296,484 0 29,345 Emerson Electric Co. Common 291011104 1,527 32,790 SH Defined 1 0 0 32,790 Emerson Electric Co. Common 291011104 166,535 3,575,240 SH SOLE 3,367,840 0 207,400 Entertainment Prop. Trust Common 29380T105 31,693 770,921 SH SOLE 94,155 0 676,766 EOG Resources, Inc. Common 26875P101 3,019 33,500 SH Defined 1 0 0 33,500 EOG Resources, Inc. Common 26875P101 594,552 6,598,072 SH SOLE 6,023,860 0 574,212 Equity Residential Common 29476L107 32,403 519,606 SH SOLE 101,519 0 418,087 Essex Property Trust, Inc. Common 297178105 51,351 333,619 SH SOLE 49,134 0 284,485 Estee Lauder Companies, A Common 518439104 1,927 35,605 SH SOLE 35,350 0 255 Everest Re Group, Ltd. Common G3223R108 2,028 19,595 SH Defined 1 0 0 19,595 Everest Re Group, Ltd. Common G3223R108 216,060 2,087,739 SH SOLE 1,942,894 0 144,845 Expedia Inc. Common 30212P303 1,430 29,755 SH Defined 1 0 0 29,755 Expedia Inc. Common 30212P303 148,121 3,081,365 SH SOLE 2,903,609 0 177,756 Expeditors Int'l of Washington Common 302130109 22,160 571,862 SH SOLE 525,906 0 45,956 Express Scripts Inc - Class A Common 30219G108 12,306 220,420 SH Defined 1 0 0 220,420 Express Scripts Inc - Class A Common 30219G108 1,247,187 22,339,013 SH SOLE 21,003,099 0 1,335,914 Exxon Mobil Corp. Common 30231G102 21,026 245,719 SH SOLE 221,218 0 24,501 Fairchild Semiconductor Intl Common 303726103 7,037 499,047 SH SOLE 499,047 0 0 Federal Realty Invmt Trust Common 313747206 10,823 103,980 SH SOLE 46,592 0 57,388 FedEx Corp. Common 31428X106 10,328 112,740 SH SOLE 101,812 0 10,928 Forest City Ent FCE 5 Bond 345550AM9 1,439 1,120,000 PRN SOLE 1,120,000 0 0 Forest City Ent Inc. - A Common 345550107 22,406 1,534,636 SH SOLE 654,017 0 880,619 Freeport-McMoRan Copper & Gold Common 35671D857 6,897 202,444 SH SOLE 202,444 0 0 General Electric Co. Common 369604103 10,206 489,710 SH SOLE 489,710 0 0 Goldman Sachs Group Inc. Common 38141G104 1,646 17,170 SH Defined 1 0 0 17,170 Goldman Sachs Group Inc. Common 38141G104 202,509 2,112,548 SH SOLE 1,891,741 0 220,807 Google Inc. Class A Common 38259P508 14,107 24,319 SH Defined 1 0 0 24,319 Google Inc. Class A Common 38259P508 1,619,506 2,791,914 SH SOLE 2,629,209 0 162,705 Groupon Inc. Common 399473107 1,031 97,000 SH Defined 1 0 0 97,000 Groupon Inc. Common 399473107 118,527 11,150,215 SH SOLE 10,538,688 0 611,527 Grupo Televisa SA ADR 40049J206 561 26,120 SH Defined 1 0 0 26,120 Grupo Televisa SA ADR 40049J206 72,654 3,382,388 SH SOLE 3,199,788 0 182,600 Harley-Davidson, Inc. Common 412822108 1,625 35,530 SH Defined 1 0 0 35,530 Harley-Davidson, Inc. Common 412822108 302,080 6,605,729 SH SOLE 6,079,038 0 526,691 Hewlett Packard Co. Common 428236103 1,681 83,600 SH Defined 1 0 0 83,600 Hewlett Packard Co. Common 428236103 227,407 11,308,159 SH SOLE 10,593,122 0 715,037 Highwoods Properties Inc. Common 431284108 31,427 933,936 SH SOLE 0 0 933,936 Home Depot Inc Common 437076102 1,412 26,650 SH SOLE 26,350 0 300 Home Properties Inc. Common 437306103 2,809 45,786 SH SOLE 20,414 0 25,372 Host Hotels & Resorts Inc. Common 44107P104 15,955 1,008,514 SH SOLE 442,155 0 566,359 Hunter Douglas N.V. Foreign 5291810 641 16,400 SH Defined 1 0 0 16,400 Hunter Douglas N.V. Foreign 5291810 83,731 2,143,895 SH SOLE 2,031,525 0 112,370 IBM Common 459200101 16,035 81,986 SH SOLE 73,048 0 8,938 ICICI Bank Limited ADR 45104G104 8,153 251,565 SH SOLE 172,020 0 79,545 IDEXX Laboratories, Inc. Common 45168D104 21,108 219,573 SH SOLE 199,806 0 19,767 Intel Corp. Common 458140100 1,628 61,100 SH Defined 1 0 0 61,100 Intel Corp. Common 458140100 177,393 6,656,410 SH SOLE 6,272,881 0 383,529 International Rectifier Corp. Common 460254105 6,360 318,140 SH SOLE 318,140 0 0 Iron Mountain Inc. Common 462846106 6,313 191,550 SH Defined 1 0 0 191,550 Iron Mountain Inc. Common 462846106 725,460 22,010,313 SH SOLE 20,585,090 0 1,425,223 iShares Lehman Agg. Bond Fund ETF 464287226 1,041 9,350 SH SOLE 6,950 0 2,400 Johnson & Johnson Common 478160104 401 5,940 SH Defined 1 0 0 5,940 Johnson & Johnson Common 478160104 186,433 2,759,514 SH SOLE 2,435,085 0 324,429 JPMorgan Chase & Co. Common 46625H100 2,699 75,550 SH Defined 1 0 0 75,550 JPMorgan Chase & Co. Common 46625H100 273,085 7,643,025 SH SOLE 7,215,703 0 427,322 Kellogg Co Common 487836108 10,251 207,810 SH SOLE 188,957 0 18,853 Kimco Realty Corp. Common 49446R109 41,795 2,196,260 SH SOLE 300,746 0 1,895,514 Kohls Corp. Common 500255104 16,536 363,500 SH SOLE 363,500 0 0 Lexington Realty Trust Common 529043101 13,287 1,568,700 SH SOLE 0 0 1,568,700 Liberty Media Interactive - A Common 53071M104 1,945 109,400 SH Defined 1 0 0 109,400 Liberty Media Interactive - A Common 53071M104 203,117 11,427,118 SH SOLE 10,759,910 0 667,208 Liberty Property Trust Common 531172104 34,452 935,170 SH SOLE 0 0 935,170 Lockheed Martin Corp. Common 539830109 1,455 16,710 SH Defined 1 0 0 16,710 Lockheed Martin Corp. Common 539830109 178,190 2,046,282 SH SOLE 1,899,037 0 147,245 Loews Corp. Common 540424108 12,531 306,299 SH Defined 1 0 0 306,299 Loews Corp. Common 540424108 1,455,973 35,589,668 SH SOLE 33,153,314 0 2,436,354 Macerich Company Common 554382101 47,417 803,003 SH SOLE 127,803 0 675,200 Markel Corp. Common 570535104 674 1,525 SH Defined 1 0 0 1,525 Markel Corp. Common 570535104 137,093 310,375 SH SOLE 275,786 0 34,589 Martin Marietta Materials, Inc Common 573284106 1,250 15,860 SH Defined 1 0 0 15,860 Martin Marietta Materials, Inc Common 573284106 104,415 1,324,726 SH SOLE 1,247,853 0 76,873 Masco Corp. Common 574599106 7,607 548,430 SH SOLE 548,430 0 0 Mastercard, Inc. Common 57636Q104 394 915 SH SOLE 915 0 0 Mead Johnson Nutrition Co. Common 582839106 382 4,750 SH SOLE 4,750 0 0 Medtronic, Inc. Common 585055106 15,926 411,193 SH SOLE 372,656 0 38,537 Merck & Co., Inc. Common 58933Y105 542 12,975 SH Defined 1 0 0 12,975 Merck & Co., Inc. Common 58933Y105 210,384 5,039,131 SH SOLE 4,464,461 0 574,670 Microsoft Corp. Common 594918104 4,529 148,070 SH Defined 1 0 0 148,070 Microsoft Corp. Common 594918104 520,896 17,028,305 SH SOLE 15,876,804 0 1,151,501 Midway Gold Corp. Common 598153104 35 25,000 SH SOLE 25,000 0 0 Molycorp, Inc. Common 608753109 5,267 244,430 SH SOLE 244,430 0 0 Monsanto Co. Common 61166W101 9,713 117,330 SH Defined 1 0 0 117,330 Monsanto Co. Common 61166W101 933,468 11,276,491 SH SOLE 10,651,094 0 625,397 Nabors Industries Ltd. Common G6359F103 10,464 726,660 SH SOLE 726,660 0 0 NetEase.com Inc. ADR 64110W102 8,192 139,200 SH SOLE 139,200 0 0 Netflix Inc. Common 64110L106 2,668 38,960 SH Defined 1 0 0 38,960 Netflix Inc. Common 64110L106 287,710 4,201,068 SH SOLE 3,958,604 0 242,464 News Corp., Class A Common 65248E104 20,708 929,021 SH SOLE 887,210 0 41,811 Nielsen Holdings B.V. Common N63218106 28,744 1,096,278 SH SOLE 1,046,875 0 49,403 Noble Energy, Inc. Common 655044105 3,528 41,595 SH SOLE 41,400 0 195 Nokia Oyj Corp. ADR 654902204 2,186 1,055,972 SH SOLE 942,743 0 113,229 Nordstrom, Inc. Common 655664100 1,491 30,000 SH SOLE 30,000 0 0 Novartis Ag ADR 66987V109 1,853 33,140 SH SOLE 33,140 0 0 Oaktree Cap Group LLC Common 674001201 133,220 3,816,086 SH SOLE 3,816,086 0 0 Occidental Petroleum Corp. Common 674599105 11,939 139,200 SH Defined 1 0 0 139,200 Occidental Petroleum Corp. Common 674599105 1,295,077 15,099,418 SH SOLE 14,128,244 0 971,174 Oracle Corporation Common 68389X105 3,579 120,500 SH Defined 1 0 0 120,500 Oracle Corporation Common 68389X105 408,090 13,740,393 SH SOLE 12,882,308 0 858,085 PACCAR Inc Common 693718108 2,574 65,670 SH Defined 1 0 0 65,670 PACCAR Inc Common 693718108 281,231 7,176,088 SH SOLE 6,755,419 0 420,669 Pfizer Inc. Common 717081103 75,513 3,283,157 SH SOLE 2,912,270 0 370,887 Philip Morris Intl Inc Common 718172109 2,827 32,402 SH Defined 1 0 0 32,402 Philip Morris Intl Inc Common 718172109 392,107 4,493,553 SH SOLE 4,169,319 0 324,234 Phillips 66 Common 718546104 622 18,718 SH SOLE 18,275 0 443 Plains Exploration & Product Common 726505100 1,421 40,400 SH SOLE 40,400 0 0 Plum Creek Timber Comp., Inc Common 729251108 19,378 488,100 SH SOLE 0 0 488,100 PNC Financial Services Group Common 693475105 223 3,655 SH SOLE 3,655 0 0 Post Properties, Inc. Common 737464107 26,909 549,734 SH SOLE 134,326 0 415,408 Potash Corp Saskatchewan, Inc. Foreign 73755L107 3,297 75,455 SH Defined 1 0 0 75,455 Potash Corp Saskatchewan, Inc. Foreign 73755L107 361,129 8,265,704 SH SOLE 7,760,557 0 505,147 Potlatch Corp. Common 737630103 3,426 107,257 SH SOLE 47,072 0 60,185 Praxair, Inc. Common 74005P104 3,088 28,400 SH Defined 1 0 0 28,400 Praxair, Inc. Common 74005P104 275,753 2,536,122 SH SOLE 2,402,242 0 133,880 Procter & Gamble Co. Common 742718109 13,803 225,359 SH SOLE 205,018 0 20,341 Progressive Corp. Common 743315103 11,110 533,380 SH Defined 1 0 0 533,380 Progressive Corp. Common 743315103 1,197,351 57,482,060 SH SOLE 53,450,012 0 4,032,048 Prologis, Inc. Common 74340W103 3,836 115,438 SH SOLE 10,689 0 104,749 Public Storage, Inc Common 74460D109 17,104 118,442 SH SOLE 52,701 0 65,741 Quanta Services, Inc. Common 74762E102 15,695 652,050 SH SOLE 652,050 0 0 Rayonier, Inc Common 754907103 32,028 713,325 SH SOLE 177,343 0 535,982 Regency Centers Corporation Common 758849103 31,897 670,537 SH SOLE 0 0 670,537 Republic Services, Inc. Common 760759100 329 12,420 SH SOLE 12,420 0 0 SAP AG ADR 803054204 7,967 134,211 SH SOLE 117,998 0 16,213 Schlumberger Ltd. Common 806857108 2,518 38,790 SH Defined 1 0 0 38,790 Schlumberger Ltd. Common 806857108 270,444 4,166,453 SH SOLE 3,938,663 0 227,790 School Specialty Conv. Bond 3.75 Bond 807863AM7 8,418 11,243,000 PRN SOLE 11,243,000 0 0 School Specialty Inc. Common 807863105 1,937 594,117 SH SOLE 594,117 0 0 Sealed Air Corp. Common 81211K100 865 55,994 SH Defined 1 0 0 55,994 Sealed Air Corp. Common 81211K100 157,672 10,211,907 SH SOLE 9,331,097 0 880,810 Siemens AG ADR 826197501 208 2,473 SH SOLE 2,473 0 0 Sigma-Aldrich Corp. Common 826552101 25,472 344,537 SH SOLE 303,938 0 40,599 Simon Property Group Inc. Common 828806109 106,356 683,258 SH SOLE 140,402 0 542,856 Sinovac Biotech Ltd. Foreign P8696W104 5,476 2,595,324 SH SOLE 2,595,324 0 0 SL Green Realty Corp. Common 78440X101 11,740 146,317 SH SOLE 67,072 0 79,245 SPDR S+P 500 ETF Trust ETF 78462F103 367 2,700 SH SOLE 2,700 0 0 Spectra Energy Corp. Common 847560109 324 11,150 SH SOLE 11,150 0 0 Sysco Corp Common 871829107 1,162 38,970 SH Defined 1 0 0 38,970 Sysco Corp Common 871829107 144,660 4,852,737 SH SOLE 4,557,225 0 295,512 Taubman Centers, Inc. Common 876664103 6,877 89,127 SH SOLE 39,091 0 50,036 Techne Corp. Common 878377100 2,150 28,971 SH SOLE 25,716 0 3,255 Tenaris S.A. - ADR ADR 88031M109 14,118 403,718 SH SOLE 403,718 0 0 Texas Instruments, Inc. Common 882508104 6,189 215,710 SH Defined 1 0 0 215,710 Texas Instruments, Inc. Common 882508104 713,507 24,869,551 SH SOLE 23,307,427 0 1,562,124 The First Marblehead Corp. Common 320771108 2,235 1,910,194 SH SOLE 1,910,194 0 0 The Sherwin Williams Co. Common 824348106 418 3,155 SH SOLE 3,155 0 0 The TJX Companies, Inc. Common 872540109 821 19,120 SH SOLE 19,120 0 0 Tiffany & Co. Common 886547108 640 12,080 SH Defined 1 0 0 12,080 Tiffany & Co. Common 886547108 80,075 1,512,269 SH SOLE 1,421,814 0 90,455 Toronto Dominion Bank Foreign 891160509 7,870 100,605 SH SOLE 22,495 0 78,110 Transocean Inc. Series C Bond 893830AW9 4,179 4,200,000 PRN SOLE 4,200,000 0 0 Transocean Ltd. Common H8817H100 2,213 49,476 SH Defined 1 0 0 49,476 Transocean Ltd. Common H8817H100 255,321 5,708,048 SH SOLE 5,345,148 0 362,900 Tyson Foods Inc 3.25% 10/15/13 Bond 902494AP8 17,781 14,665,000 PRN SOLE 14,665,000 0 0 Tyson Foods Inc. Common 902494103 1,997 106,030 SH SOLE 106,030 0 0 Unilever NV ADR 904784709 1,129 33,840 SH Defined 1 0 0 33,840 Unilever NV ADR 904784709 105,531 3,164,354 SH SOLE 2,964,772 0 199,582 United Rental 4% CV Bond 911363AL3 6,768 2,172,000 PRN SOLE 2,172,000 0 0 Universal Health Services, Inc Common 913903100 12,270 284,300 SH SOLE 284,300 0 0 US Bancorp Common 902973304 21,138 657,267 SH SOLE 556,214 0 101,053 US Steel Corp. 4% 05/15/14 Bond 912909AE8 11,289 11,150,000 PRN SOLE 11,150,000 0 0 US Steel Corp. Common 912909108 3,216 156,140 SH SOLE 156,140 0 0 Valeant Pharmaceutical Int'l Common 91911K102 10,520 234,874 SH SOLE 234,874 0 0 Ventas, Inc. Common 92276F100 55,401 877,711 SH SOLE 122,532 0 755,179 Vipshop Holdings Ltd. ADR 92763W103 3,084 505,570 SH SOLE 505,570 0 0 Visa Inc. Common 92826C839 2,287 18,500 SH Defined 1 0 0 18,500 Visa Inc. Common 92826C839 274,790 2,222,680 SH SOLE 2,026,630 0 196,050 Vornado Realty Trust Common 929042109 49,388 588,089 SH SOLE 108,515 0 479,574 Walgreen Co. Common 931422109 1,074 36,320 SH Defined 1 0 0 36,320 Walgreen Co. Common 931422109 107,542 3,635,618 SH SOLE 3,429,760 0 205,858 Wal-Mart Stores, Inc. Common 931142103 17,329 248,547 SH SOLE 225,635 0 22,912 Washington Post Co., B Common 939640108 976 2,612 SH SOLE 2,590 0 22 Waste Connections Inc. Common 941053100 10,073 336,670 SH SOLE 336,670 0 0 Wells Fargo & Co. Common 949746101 22,183 663,367 SH Defined 1 0 0 663,367 Wells Fargo & Co. Common 949746101 2,817,800 84,264,340 SH SOLE 78,342,222 0 5,922,118 Wells Fargo & Co. Warrants Warrant 949746119 4,565 518,120 SH SOLE 518,120 0 0 Western Union Company Common 959802109 5,306 315,072 SH SOLE 315,072 0 0 Weyerhaeuser Co. Common 962166104 29,335 1,311,948 SH SOLE 377,952 0 933,996 Whole Foods Market Inc. Common 966837106 10,032 105,250 SH SOLE 105,250 0 0 Wynn Resorts, Ltd. Common 983134107 218 2,100 SH SOLE 2,100 0 0 Youku.com Inc. ADR 98742U100 23,189 1,069,616 SH SOLE 991,650 0 77,966