0001145549-23-016533.txt : 20230315 0001145549-23-016533.hdr.sgml : 20230315 20230315152813 ACCESSION NUMBER: 0001145549-23-016533 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230315 DATE AS OF CHANGE: 20230315 EFFECTIVENESS DATE: 20230315 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: 23734895 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 Michaela McLoughry 005005041 2949 E. Elvira Road Suite 101 Tucson 85756 XXXXXX Y 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 State Street Bank and Trust Company 571474TGEMMWANRLN572 N N N/A 0.000000000000 0.000000000000 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) Hongkong and Shanghai Banking Corporation Limited 2HI3YI5320L3RW6NJ957 HK N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) BNP Paribas S.A. R0MUWSFPU8MPRO8K5P83 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) Standard Chartered Bank RILFO74KP1CM8P6PCT96 ZA 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 BTIG, LLC 008-65473 000122225 549300GTG9PL6WO3EC51 24795.000000000000 BMO Capital Markets Corp. 008-34344 000016686 RUC0QBLBRPRCU4W1NE59 CA 20355.000000000000 Sanford C. Bernstein & Co., LLC 008-52942 000104474 549300I7JYZHT7D5CO04 16810.000000000000 J.P. Morgan Securities, LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 14840.000000000000 Citigroup Global Markets, Inc. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 11875.000000000000 Allen & Company LLC 008-12123 000001042 549300RO3RYDN328JY68 11695.000000000000 Piper Sandler & Co. 008-15204 000000665 549300GRQCWQ3XGH0H10 11623.000000000000 UBS Securities LLC 008-22651 000007654 T6FIZBDPKLYJKFCRVK44 9609.000000000000 Jefferies LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 8557.000000000000 Goldman, Sachs & Co. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 7413.000000000000 191122.000000000000 StoneX Financial Inc. 008-51269 000045993 549300LNKU6K5TJCRG93 2408690000.000000000000 Truist Securities, Inc. 008-17212 000006271 CSVTK36R0PNGXEM7NS14 2297627000.000000000000 4706317000.000000000000 N 1606834425.000000000000 N N N N true INTERNAL CONTROL RPT 2 sas_letter.htm KPMG NCEN LETTER


 
KPMG LLP
 
4200 Wells Fargo Center
 
90 South Seventh Street
 
Minneapolis, MN 55402





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, 2022 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, 2022.


 
KPMG LLP, a Delaware limited liability partnership and a member firm of
 
the KPMG global organization of independent member firms affiliated with
 
KPMG International Limited, a private English company limited by guarantee.




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

Minneapolis, Minnesota
February 17, 2023




















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