Fund Evaluator:
Selected American Shares S (SLASX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Selected American Shares S Overview
Selected American Shares S (SLASX) is an actively managed U.S. Equity Large Value fund. Selected Funds launched the fund in 1933.
The investment seeks both capital growth and income; in the current market environment, income is expected to be low. The fund invests at least 80% of its net assets, plus any borrowing for investment purposes, in securities issued by American companies. It invests principally in common stocks (including indirect holdings of common stock through depositary receipts) issued by large companies with market capitalizations of at least $10 billion.
About Selected American Shares S (SLASX)
There are 2 members of the management team with an average tenure of 22.05 years: Christopher Davis (1994), Danton Goei (2014). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Selected American Shares S has 43 securities in its portfolio. The top 10 holdings constitute 47.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Selected American Shares S is part of the Equity global asset class and is within the U.S. Equity fund group. Selected American Shares S has 21.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 74.3%. There is 21.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Selected American Shares S has 3.7% of the portfolio in cash.
Assets Under Management
The fund has $490 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SLASX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Selected American Shares S expense ratio is high compared to funds in the Large Value category. Selected American Shares S has an expense ratio of 0.97%, which is 5% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Selected American Shares S has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of June 2026, Selected American Shares S returned -0.1%, which earned it a grade of F, as the Large Value category had an average return of 1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Selected American Shares S has a trailing yield of 0.88%, which is below the 1.25% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Selected American Shares S Grades
Year to date, the fund has returned 10.7%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 26.2% over the past year (grade of A), 22.7% over the past three years (grade of A) and 10.9% per year over the past five years (grade of B) and 13.5% per year over the past 10 years (grade of A).
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SLASX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SLASX Return (NAV) | -0.1% | 10.8% | 26.2% | 22.7% | 10.9% | 13.5% |
| SLASX Grade | F | C | A | A | B | A |
| +/- Category | -1.7% | 1.0% | 5.2% | 6.7% | 0.5% | 2.2% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| SLASX Tax Cost Ratio | na | na | 2.2% | 3.4% | 2.8% | 2.6% |
SLASX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SLASX Return (NAV) | 10.7% | 26.8% | 17.7% | 32.3% | -20.3% | 17.7% | 11.6% | 31.1% | -14.0% | 21.8% | 12.5% |
| SLASX Grade | C | A | A | A | F | F | A | A | F | A | D |
| +/- Category | -0.3% | 11.6% | 3.6% | 20.5% | -14.2% | -8.1% | 7.8% | 5.5% | -5.6% | 5.4% | -2.0% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 14.0% |
| Total Risk Index: | 1.15 - Above Average |
| Category Risk Index: | 1.16 - High |
| Category Risk Grade: | F (97% Rank) |
| Beta: | 0.93 |
| R-Squared: | 75% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $2095 Mil |
| Fund Total Assets: | $ 491 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 15% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 31.6 years | |||
| Average Tenure: 22.1 years | |||
| Managers (Year): Davis Christopher (1994), Goei Danton (2014) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 43 |
| % in Top 10 Holdings: | 47.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 21.9% |
Portfolio Allocation |
|
| Domestic Stock: | 74.3% |
| Foreign Stock: | 21.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 3.7% |
Purchase Information
| Fund Family: | Selected Funds |
| Phone Number: | 800-243-1575 |
| Website: | www.selectedfunds.com |
| Status: | Open |
| Inception Date: | February 28, 1933 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.97% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Selected American Shares S |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
