0001145549-22-015623.txt : 20220314 0001145549-22-015623.hdr.sgml : 20220314 20220314102310 ACCESSION NUMBER: 0001145549-22-015623 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220314 DATE AS OF CHANGE: 20220314 EFFECTIVENESS DATE: 20220314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SELECTED AMERICAN SHARES INC CENTRAL INDEX KEY: 0000088808 IRS NUMBER: 510099358 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-00051 FILM NUMBER: 22735425 BUSINESS ADDRESS: STREET 1: 2949 E. ELVIRA ROAD STREET 2: SUITE 101 CITY: TUCSON STATE: AZ ZIP: 85756 BUSINESS PHONE: (520)806-7600 MAIL ADDRESS: STREET 1: 2949 E. ELVIRA ROAD STREET 2: SUITE 101 CITY: TUCSON STATE: AZ ZIP: 85756 0000088808 S000003448 SELECTED AMERICAN SHARES C000009551 Class S SLASX C000009552 Class D SLADX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000088808 XXXXXXXX true false false N-1A S000003448 true SELECTED AMERICAN SHARES INC 811-00051 0000088808 2549000E6PP2BF7Y7990 2949 E. Elvira Road Suite 101 Tucson 85756 US-AZ US 5208067600 State Street Bank & Trust Company One Lincoln Street Boston 02111 6177863000 The books and records required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the rules thereunder. Davis Selected Advisers, L.P. 2949 E. Elvira Road Suite 101 Tucson 85756 5208067600 The books and records required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the rules thereunder. DST Asset Manager Solutions, Inc. 333 W. 11th Street Kansas City 64105 8164351000 The books and records required to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the rules thereunder. N N N-1A 1 Y Richard O'Brien N/A N James J. McMonagle N/A N Katherine L. MacWilliams N/A N Steven N. Kearsley N/A N Lawrence E. Harris N/A N Francisco L. Borges N/A N Christopher C. Davis N/A Y Andrew A. Davis N/A Y Randi J. Roessler 005178959 2949 E. Elvira Road Suite 101 Tucson 85756 XXXXXX N N N N N N Davis Distributors, LLC 8-39258 000007975 2549004BH5WE90V5O389 Y N KPMG LLP 00185 5493003PVCIGA21K0K42 N N N N N N N Selected American Shares S000003448 254900P4VH57C7MVLN93 N 2 0 0 N/A N N Y N N State Street Bank and Trust Company - Global Securities Lending Trust 549300Q7AOODW3NI7H95 N N Revenue sharing split Cash collateral reinvestment fee 126871.000000000000 44873.000000000000 Rule 32a-4 (17 CFR 270.32a-4) N N N N Davis Selected Advisers, L.P. 801-31648 000108674 254900Q6I0WAL4QT7252 N Davis Selected Advisers - NY, Inc. 801-53272 000106659 254900M4RZB7I7YSOW55 Y N DST Asset Manager Solutions, Inc. 84-00896 N/A N N Davis Selected Advisers, L.P. 85-0360310 254900Q6I0WAL4QT7252 Y N N Refinitiv US LLC 213800HQORQAP68CJJ04 N ICE Data Pricing & Reference Data, LLC 5493000NQ9LYLDBCTL34 N N State Street Bank & Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Skandinaviska Enskilda Banken AB F3JS33DEI6XQ4ZBPTN86 SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Deutsche Bank Aktiengesellschaft 7LTWFZYICNSX8D621K86 DE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Hongkong and Shanghai Banking Corporation Limited 2HI3YI5320L3RW6NJ957 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP Paribas Securities Services 549300WCGB70D06XZS54 FR N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Citibank, National Association E57ODZWZ7FF32TWEFA76 N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) The Standard Bank of South Africa QFC8ZCW3Q5PRXU1XTM60 ZA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) Standard Chartered Bank RILFO74KP1CM8P6PCT96 ZA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) HSBC Bank Middle East Limited 549300F99IL9YJDWH369 AE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) First Abu Dhabi Bank P.J.S.C. 2138002Y3WMK6RZS8H90 AE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N DST Asset Manager Solutions, Inc. N/A N N Davis Selected Advisers, L.P. 254900Q6I0WAL4QT7252 Y N N Davis Selected Advisers, L.P. 254900Q6I0WAL4QT7252 Y N N BMO Capital Markets Corp. 008-34344 000016686 RUC0QBLBRPRCU4W1NE59 CA 56494.000000000000 Merrill Lynch, Pierce, Fenner & Smith Incorporated 008-07221 000007691 8NAV47T0Y26Q87Y0QP81 54112.000000000000 Morgan Stanley & Co. 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 46665.000000000000 Goldman, Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 42068.000000000000 J.P. Morgan Securities, LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 41883.000000000000 Sanford C. Bernstein & Co., LLC 008-52942 000104474 549300I7JYZHT7D5CO04 26201.000000000000 Allen & Company LLC 008-12123 000001042 549300RO3RYDN328JY68 25586.000000000000 Jefferies LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 25215.000000000000 Credit Suisse Securities (USA) LLC 008-00422 000000816 1V8Y6QCX6YMJ2OELII46 25074.000000000000 Wells Fargo Securities, LLC 008-65876 000126292 VYVVCKR63DVZZN70PB21 24392.000000000000 512483.000000000000 StoneX Financial Inc. 008-51269 000045993 549300LNKU6K5TJCRG93 2889157000.000000000000 Truist Securities, Inc. 008-17212 000006271 CSVTK36R0PNGXEM7NS14 1304533000.000000000000 Nomura Securities International, Inc. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 1280271000.000000000000 Goldman, Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 17457615.000000000000 China Renaissance Securities (US) Inc. 008-69197 000166318 254900HNGZEZ9UH1VD09 1772420.000000000000 5493191035.000000000000 N 2061200532.000000000000 N N N N true INTERNAL CONTROL RPT 2 sas_letter.htm KPMG LETTER



Report of Independent Registered Public Accounting Firm
 

The Shareholders and Board of Directors
Selected American Shares, Inc.:

In planning and performing our audit of the financial statements of Selected American Shares, Inc. (the Fund) as of and for the year ended December 31, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.
Management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund's annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities that we consider to be a material weakness as defined above as of December 31, 2021.
This report is intended solely for the information and use of management and the Board of Directors of Selected American Shares, Inc. and the Securities and Exchange Commission, and is not intended to be and should not be used by anyone other than these specified parties.


KPMG LLP
Denver, Colorado
February 18, 2022