CONSISTENCY COMMITMENT RESULTS
We have remained steadfastly dedicated to the same patient, long-term investment discipline for more than 35 years. We seek to invest in durable, well-managed businesses that can be purchased at value prices and held for the long term. The Davis family, employees, and directors are among the largest shareholders in the Selected Funds. This group also has more than $2 billion of their own money invested side by side with fellow shareholders in the various mutual funds our firm manages,* which ensures that our interests are closely aligned with those of our clients. Davis Advisors has a history of delivering strong and consistent investment results through full-market cycles. Selected American Shares has outperformed the S&P 500® Index since Davis Advisors began management of the Fund in May 1993.**


* As of December 31, 2007
** On a cumulative basis, as of December 31, 2007. Fund performance changes over time and current performance may be positive or negative. Advertised returns change over time. Click here for a description of the S&P 500® Index.

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Proxy Voting Information

This material must be accompanied or preceded by a current Selected Funds Prospectus. Carefully consider the fund's investment strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here or calling 1 800 243-1575. Davis Distributors, LLC, is the distributor of the Selected Funds.
What's New

Read the Kiplinger Article
"Success Under Stress" -
Kiplinger’s Magazine

Morningstar Director of Fund Research interviews Chris Davis and Ken Feinberg on strategies for investing through volatility

Listen to the interview 2008 Selected Funds Portfolio Manager
Audio Interview