Overview
Investment Strategy
The goal of the Fund is to provide investors access to attractive investment opportunities that exist primarily outside of the United States, in both developed and developing markets.
The Fund applies our signature Davis Investment Discipline to seek durable, well-managed businesses at value prices and holding them for the long term.
We believe investing solely in U.S. stock funds may mean missing the tremendous growth opportunities and diversification potential that international companies provide.
"By being highly selective and rejecting the vast majority of companies in the index, we’ve uncovered businesses with highly attractive earnings growth, yet selling at some of the lowest valuations we have ever seen. We believe this sets the stage for attractive returns in the years ahead.”
– Portfolio Manager Chris Davis
Selective | Attractive Growth | Undervalued |
---|---|---|
Selected International Fund invests in only a select group of well-researched companies |
Selected International Fund's portfolio companies have offered attractive growth The Attractive Growth and Undervalued reference in this piece relates to underlying characteristics of the portfolio holdings. There is no guarantee that the Fund’s performance will be positive as equity markets are volatile and an investor may lose money. |
Selected International Fund's portfolio companies are 50% less expensive than the index |
Holdings The number of holdings in the Fund excluding cash positions. | EPS Growth (5 Year) Five-year EPS Growth Rate (5-year EPS) is the average annualized earnings per share growth for a company over the past 5 years. The values shown are the weighted average of the 5-year EPS of the stocks in the Fund or Index. The 5-year EPS of the MSCI ACWI ex US is 12.7%. Approximately 15.09% of the assets of the Fund are not accounted for in the calculation of 5-year EPS as relevant information on certain companies is not available to the Fund’s data provider. | P/E (Forward) Forward Price/Earnings (Forward P/E) Ratio is a stock’s price at the date indicated divided by the company’s forecasted earnings for the following 12 months based on estimates provided by the Fund’s data provider. These values for both the Fund and the Index are the weighted average of the stocks in the portfolio or index. The Forward P/E of the MSCI ACWI ex US is 14.2x. |
2,158
26
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Fund
MSCI ACWI ex US
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Fund Details as of 6/30/24
Detail | Value |
---|---|
Long-Term Growth of Capital | |
Total Net Assets ($M) | 47.3 |
Benchmark | MSCI ACWI ex US |
Lipper Category | Intl Multi Cap Value |
S Shares
Detail | Value |
---|---|
Ticker (S) | SLSSX |
Inception Date (S) | 5/1/93 This is the date Davis Selected Advisers, L.P. took over management of this fund. |
CUSIP (S) | 816272108 |
Fund Number (S) | 204 |
Net Expense Ratio (S) Davis Selected Advisers, L.P. is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses (Class S Shares, 1.05%; and Class D Shares, 0.80%). The Adviser is obligated to continue the expense cap through May 1, 2025. The expense cap cannot be modified prior to this date without the consent of the Board of Directors. After that date, there is no assurance that the Adviser will continue to cap expenses. The Adviser may not recoup any of the operating expenses it has reimbursed to the Fund. As of the most recent prospectus. | 1.05% |
Gross Expense Ratio (S) | 1.64% |
D Shares
Detail | Value |
---|---|
Ticker (D) | SLSDX |
Inception Date (D) | 5/3/04 This is the date Davis Selected Advisers, L.P. took over management of this fund. |
CUSIP (D) | 816272207 |
Fund Number (D) | 1022 |
Net Expense Ratio (D) Davis Selected Advisers, L.P. is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses (Class S Shares, 1.05%; and Class D Shares, 0.80%). The Adviser is obligated to continue the expense cap through May 1, 2025. The expense cap cannot be modified prior to this date without the consent of the Board of Directors. After that date, there is no assurance that the Adviser will continue to cap expenses. The Adviser may not recoup any of the operating expenses it has reimbursed to the Fund. As of the most recent prospectus. | 0.80% |
Gross Expense Ratio (D) | 0.97% |
Performance as of 6/30/24
Growth of $10,000 (Class S Shares) On May 1, 2011, the Fund was renamed Selected International Fund and began investing primarily in foreign equity securities.
Average Annual Returns
S Shares: Quarterly (as of 6/30/24)
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Share Class | YTD* | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Since Incep | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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S Shares | 7.00% | 7.90% | -7.77% | 0.33% | 1.62% | 5.59% |
The average annual total returns for Selected International Fund’s Class S shares for periods ending June 30, 2024 are: 1 year, 7.90%; 5 years, 0.33%; and 10 years, 1.62%. The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. For most recent month-end performance, visit selectedfunds.com or call 800-243-1575. Current performance may be lower or higher than the performance quoted. The gross annual operating expense ratio for Class S shares as of the most recent prospectus was 1.64%. [The Adviser is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses of Class S shares at 1.05%. The expense cap expires May 1, 2025.] The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Periods less than one year are not annualized. The Fund’s performance benefited from IPO purchases in 2014. After purchase, the IPOs rapidly increased in value. Davis Advisors purchases shares intending to benefit from long-term growth of the underlying company; the rapid appreciation of the IPOs was an unusual occurrence. From the date that Davis Advisors first began managing the Fund (May 1, 1993) until May 1, 2011, Selected International Fund was named Selected Special Shares and invested primarily in domestic equity securities. The Fund invests primarily in foreign equity securities and the past performance of the Fund is unlikely to be relevant to future performance.
S Shares: Monthly (as of 7/31/24)
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Share Class | YTD* | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Since Incep | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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S Shares | 7.68% | 0.08% | -2.42% | 0.70% | 1.87% | 5.59% |
The average annual total returns for Selected International Fund’s Class S shares for periods ending June 30, 2024 are: 1 year, 7.90%; 5 years, 0.33%; and 10 years, 1.62%. The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. For most recent month-end performance, visit selectedfunds.com or call 800-243-1575. Current performance may be lower or higher than the performance quoted. The gross annual operating expense ratio for Class S shares as of the most recent prospectus was 1.64%. [The Adviser is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses of Class S shares at 1.05%. The expense cap expires May 1, 2025.] The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Periods less than one year are not annualized. The Fund’s performance benefited from IPO purchases in 2014. After purchase, the IPOs rapidly increased in value. Davis Advisors purchases shares intending to benefit from long-term growth of the underlying company; the rapid appreciation of the IPOs was an unusual occurrence. From the date that Davis Advisors first began managing the Fund (May 1, 1993) until May 1, 2011, Selected International Fund was named Selected Special Shares and invested primarily in domestic equity securities. The Fund invests primarily in foreign equity securities and the past performance of the Fund is unlikely to be relevant to future performance.
D Shares: Quarterly (as of 6/30/24)
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Share Class | YTD* | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Since Incep | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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D Shares | 7.06% | 8.14% | -7.54% | 0.57% | 1.95% | 3.23% |
The average annual total returns for Selected International Fund’s Class S shares for periods ending June 30, 2024 are: 1 year, 7.90%; 5 years, 0.33%; and 10 years, 1.62%. The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. For most recent month-end performance, visit selectedfunds.com or call 800-243-1575. Current performance may be lower or higher than the performance quoted. The gross annual operating expense ratio for Class S shares as of the most recent prospectus was 1.64%. [The Adviser is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses of Class S shares at 1.05%. The expense cap expires May 1, 2025.] The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Periods less than one year are not annualized. The Fund’s performance benefited from IPO purchases in 2014. After purchase, the IPOs rapidly increased in value. Davis Advisors purchases shares intending to benefit from long-term growth of the underlying company; the rapid appreciation of the IPOs was an unusual occurrence. From the date that Davis Advisors first began managing the Fund (May 1, 1993) until May 1, 2011, Selected International Fund was named Selected Special Shares and invested primarily in domestic equity securities. The Fund invests primarily in foreign equity securities and the past performance of the Fund is unlikely to be relevant to future performance.
D Shares: Monthly (as of 7/31/24)
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Share Class | YTD* | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Since Incep | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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D Shares | 7.74% | 0.27% | -2.19% | 0.94% | 2.20% | 3.25% |
The average annual total returns for Selected International Fund’s Class S shares for periods ending June 30, 2024 are: 1 year, 7.90%; 5 years, 0.33%; and 10 years, 1.62%. The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s shares may be worth more or less than their original cost. For most recent month-end performance, visit selectedfunds.com or call 800-243-1575. Current performance may be lower or higher than the performance quoted. The gross annual operating expense ratio for Class S shares as of the most recent prospectus was 1.64%. [The Adviser is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses of Class S shares at 1.05%. The expense cap expires May 1, 2025.] The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Periods less than one year are not annualized. The Fund’s performance benefited from IPO purchases in 2014. After purchase, the IPOs rapidly increased in value. Davis Advisors purchases shares intending to benefit from long-term growth of the underlying company; the rapid appreciation of the IPOs was an unusual occurrence. From the date that Davis Advisors first began managing the Fund (May 1, 1993) until May 1, 2011, Selected International Fund was named Selected Special Shares and invested primarily in domestic equity securities. The Fund invests primarily in foreign equity securities and the past performance of the Fund is unlikely to be relevant to future performance.
Portfolio Characteristics as of 6/30/24
Portfolio Composition
Item | Selected International Fund | MSCI ACWI ex US® |
---|---|---|
P/E (Forward) Forward Price/Earnings (Forward P/E) Ratio is a stock’s price at the date indicated divided by the company’s forecasted earnings for the following 12 months based on estimates provided by the Fund’s data provider. These values for both the Fund and the Index are the weighted average of the stocks in the portfolio or index. The Forward P/E of the MSCI ACWI ex US is 14.2x. | 7.1x | 14.2x |
5 Year Earnings Growth | 16.3% | 12.7% |
P/B Ratio Price/Book (P/B) Ratio is the weighted average of the P/B ratios of the stocks in a portfolio. The P/B ratio of a stock is calculated by dividing the current price of the stock by the company’s per share book value. Stocks with negative book values are excluded for this calculation. | 2.1 | 3.1 |
Active Share Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. | 98% | N/A |
Standard Deviation (5 year, S Shares) Standard Deviation is a measure of the average deviations of a return series from its mean; often used as a risk measure. A large standard deviation implies that there have been large swings or volatility in the manager’s return series. | 22.0 | 17.4 |
Number of Holdings | 26 | 2158 |
Weighted Average Market Cap ($bn) Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. | 65.6 | 110.3 |
Median Market Cap ($bn) Median Market Capitalization is the midpoint of market capitalization of the stocks in a portfolio. | 31.6 | 9.0 |
Selected International Fund | Intl Multi Cap Value Category Average | |
---|---|---|
Turnover Rate Turnover Rate is a measure of the trading activity in a mutual fund’s investment portfolio that reflects how often securities are bought and sold. These amounts are as of the most recent prospectus. Over the last five years, the high and low turnover rate was 23% and 5%, respectively. | 9% | 53% |
Portfolio Holdings The information provided should not be considered a recommendation to buy, sell or hold any particular security. Davis Funds has adopted a Portfolio Holdings Disclosure policy that governs the release of non-public portfolio holding information. This policy is described in the prospectus. Holding percentages are subject to change.
Top 10 Holdings: Quarterly (as of 6/30/24)
Holding | Ticker | Selected International Fund | MSCI ACWI ex US® |
---|---|---|---|
Danske Bank | DANSKE DC | 11.4% | 0.1% |
DBS Group Holdings | DBS SP | 8.3% | 0.2% |
Meituan | 3690 HK | 7.3% | 0.3% |
Samsung Electronics | 005930 KS | 7.0% | 1.2% |
Naspers | NPN SJ | 5.3% | 0.1% |
Ping An Insurance Group | 2318 HK | 5.2% | 0.1% |
Julius Baer Group | BAER SE | 5.1% | < 0.1% |
DiDi Global | DIDIY | 4.9% | — |
Prosus | PRX NA | 4.6% | 0.2% |
AIA Group | 1299 HK | 4.6% | 0.3% |
Top 10 Holdings Total % of Portfolio | 63.7% | 2.6% |
Top 10 Holdings: Monthly (as of 7/31/24)
Holding | Ticker | Selected International Fund | MSCI ACWI ex US® |
---|---|---|---|
Danske Bank | DANSKE DC | 11.7% | 0.1% |
Samsung Electronics | 005930 KS | 7.3% | 1.3% |
Meituan | 3690 HK | 7.1% | 0.3% |
DBS Group Holdings | DBS SP | 5.7% | 0.2% |
Naspers | NPN SJ | 5.3% | 0.1% |
Ping An Insurance Group | 2318 HK | 5.0% | 0.1% |
Julius Baer Group | BAER SE | 5.0% | < 0.1% |
Prosus | PRX NA | 4.5% | 0.2% |
AIA Group | 1299 HK | 4.5% | 0.3% |
Teck Resources | TECK | 4.5% | 0.1% |
Top 10 Holdings Total % of Portfolio | 60.6% | 2.6% |
All Holdings: Quarterly (as of 6/30/24)
Holding | Ticker | Selected International Fund | MSCI ACWI ex US® |
---|---|---|---|
Danske Bank | DANSKE DC | 11.4% | 0.1% |
DBS Group Holdings | DBS SP | 8.3% | 0.2% |
Meituan | 3690 HK | 7.3% | 0.3% |
Samsung Electronics | 005930 KS | 7.0% | 1.1% |
Naspers | NPN SJ | 5.3% | 0.1% |
Ping An Insurance Group | 2318 HK | 5.2% | 0.1% |
Julius Baer Group | BAER SE | 5.1% | < 0.1% |
DiDi Global | DIDIY | 4.9% | — |
Prosus | PRX NA | 4.6% | 0.2% |
AIA Group | 1299 HK | 4.6% | 0.3% |
Teck Resources | TECK | 4.4% | 0.1% |
Fila Holdings | 081660 KS | 3.9% | — |
ITOCHU | 8001 JP | 3.7% | 0.2% |
KE Holdings | BEKE | 3.3% | < 0.1% |
JD.com | JD | 2.8% | — |
DNB Bank | DNB NO | 2.8% | 0.1% |
Tourmaline Oil | TOU CN | 2.5% | 0.1% |
Sea | SE | 2.3% | 0.1% |
Alibaba Group Holding | BABA | 1.9% | — |
Delivery Hero | DHER GR | 1.7% | < 0.1% |
Noah Holdings | NOAH | 1.6% | — |
Tokyo Electron | 8035 JP | 1.1% | 0.4% |
Coupang | CPNG | 1.1% | — |
Baidu | BIDU | 0.8% | — |
Hollysys Automation Technologies | HOLI | 0.7% | — |
Metro Bank Holdings | MTRO LN | 0.6% | — |
Cash | — | 1.4% | — |
All Holdings: Monthly (as of 7/31/24)
Holding | Ticker | Selected International Fund | MSCI ACWI ex US® |
---|---|---|---|
Danske Bank | DANSKE DC | 11.7% | 0.1% |
Samsung Electronics | 005930 KS | 7.3% | 1.1% |
Meituan | 3690 HK | 7.1% | 0.3% |
DBS Group Holdings | DBS SP | 5.7% | 0.2% |
Naspers | NPN SJ | 5.3% | 0.1% |
Ping An Insurance Group | 2318 HK | 5.0% | 0.1% |
Julius Baer Group | BAER SE | 5.0% | < 0.1% |
Prosus | PRX NA | 4.5% | 0.2% |
AIA Group | 1299 HK | 4.5% | 0.3% |
Teck Resources | TECK | 4.5% | 0.1% |
DiDi Global | DIDIY | 4.3% | — |
Fila Holdings | 081660 KS | 4.3% | — |
ITOCHU | 8001 JP | 3.9% | 0.2% |
KE Holdings | BEKE | 3.3% | < 0.1% |
Tourmaline Oil | TOU CN | 3.0% | 0.1% |
DNB Bank | DNB NO | 2.9% | 0.1% |
JD.com | JD | 2.8% | — |
Entain | ENT LN | 2.7% | < 0.1% |
Sea | SE | 2.1% | 0.1% |
Alibaba Group Holding | BABA | 2.1% | — |
Delivery Hero | DHER GR | 1.6% | < 0.1% |
Noah Holdings | NOAH | 1.3% | — |
Coupang | CPNG | 1.0% | — |
Tokyo Electron | 8035 JP | 1.0% | 0.4% |
Metro Bank Holdings | MTRO LN | 0.9% | — |
Cash | — | 2.2% | — |
Sector Allocation The Global Industry Classification Standard (GICS®) is the exclusive intellectual property of MSCI Inc. (MSCI) and S&P Global (“S&P”). Neither MSCI, S&P, their affiliates, nor any of their third party providers (“GICS Parties”) makes any representations or warranties, express or implied, with respect to GICS or the results to be obtained by the use thereof, and expressly disclaim all warranties, including warranties of accuracy, completeness, merchantability and fitness for a particular purpose. The GICS Parties shall not have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of such damages.
Sector | Selected International Fund | MSCI ACWI ex US® |
---|---|---|
Financials | 40.1% | 21.7% |
Consumer Discretionary | 28.9% | 11.1% |
Information Technology | 8.9% | 14.0% |
Industrials | 8.7% | 13.7% |
Materials | 4.5% | 7.1% |
Real Estate | 3.4% | 1.8% |
Communication Services | 3.1% | 5.3% |
Energy | 2.6% | 5.5% |
Health Care | — | 9.5% |
Consumer Staples | — | 7.2% |
Utilities | — | 3.1% |
Regional Allocation
Region | Selected International Fund | MSCI ACWI ex US® |
---|---|---|
Asia | 61.1% | 42.2% |
Europe | 26.5% | 42.4% |
North & Central America Ex US | 7.0% | 8.1% |
Africa | 5.4% | 0.9% |
Australia/Oceania | — | 4.9% |
South America | — | 1.5% |
Country Allocation - Top 10
Country | Selected International Fund | MSCI ACWI ex US® |
---|---|---|
China | 28.7% | 7.3% |
Korea, Republic of (South Korea) | 12.2% | 3.5% |
Denmark | 11.6% | 2.5% |
Singapore | 10.8% | 0.9% |
Canada | 7.0% | 7.4% |
South Africa | 5.4% | 0.9% |
Switzerland | 5.1% | 6.2% |
Japan | 4.8% | 14.4% |
Netherlands | 4.7% | 3.4% |
Hong Kong | 4.6% | 1.1% |
Top 10 Countries Total % of Portfolio | 94.9% | 47.6% |
Developed vs Emerging Markets
Market | Selected International Fund | MSCI ACWI ex US® |
---|---|---|
Developed Ex US | 53.7% | 72.1% |
Emerging Markets | 46.3% | 27.9% |
Market Cap Breakout The Adviser considers companies with market capitalizations over $10 billion to be large-capitalization companies, between $3 billion and $10 billion to be mid-capitalization companies, and under $3 billion to be small-capitalization companies.
Selected International Fund | ||
---|---|---|
Market | Percentage | |
|
Large | 91.5% |
|
Mid | 1.7% |
|
Small | 6.9% |
MSCI ACWI ex US® Index | ||
---|---|---|
Market | Percentage | |
|
Large | 87.1% |
|
Mid | 12.4% |
|
Small | 0.5% |
PM Commentary
Portfolio Manager Commentaries
Document | Description |
---|---|
Manager Commentary - Semi-Annual Review 2024 | An interview with the Fund Managers. |
Factsheet
Fact Sheets
Document | Description | Date |
---|---|---|
Fund Fact Sheet | Goals of the Fund, types of companies in the Portfolio, top holdings, Portfolio characteristics, and historical performance. | June 2024 |
Video
Video Insights
Investment Lessons from My Grandfather & Father
“You make most of your money in a bear market, you just don't realize it at the time”, and other key insights.
Volatility is the Price of Admission for Long-Term Returns
To benefit from the wealth-building potential of equities, investors need to understand that pullbacks and drama will be an inevitable part of the journey.
Tuning out the Tweets
The most important lessons on successfully compounding wealth from our 50 years in the equity markets
Insights
Fund Insights
Document | Description |
---|---|
Selected International Fund: Selective. Attractive Growth. Undervalued. | Our companies are rigorously researched, offer attractive growth and yet are significantly undervalued versus the benchmark - A powerful combination. |
Literature
Regulatory Reports
Document |
---|
Summary Prospectus |
Statutory Prospectus |
Financial Statements & Other Info Items 7-11 of Form N-CSR |
Statement of Additional Information |
Holdings Q1 |
Holdings Q3 |
Proxy |
Document |
---|
Annual Report |
Purchase Details
Open an Account
You can invest with Selected Funds in a number of ways:
- Speak with your Financial Advisor
- Open an account by mail by downloading the applications below
Document |
---|
Application for Individuals (Joint, Trust, Custodial) |
Application for Businesses |
Application for Individual Retirement Account (IRA)
Please download one of the following disclosure and custodial agreements: |
Application for Coverdell Education Savings Account
Please download the Coverdell Education Savings Account Disclosure and Custodial Agreement |
Account Minimums
Investment | Class S | Class D |
---|---|---|
Minimum Initial Investment | $1,000 | $10,000 |
Minimum Additional Investment | $25 | $25 |
Distributions
2023 Distributions as of 01/08/24
This information on 2023 distributions is intended for existing shareholders
As large shareholders ourselves, we are conscious of tax costs and make every effort to be tax efficient.
Capital gains result from appreciation in the portfolio. The funds' long-term investment approach means that this appreciation may have occurred over an extended period of time. The majority of the gains are long-term and generally subject to lower tax rates than short-term gains or dividend income.
Share Class | Record Date | Ex-Date | Payable Date | Qualified Dividend Percentage | Ordinary Income | Return of Capital | Foreign Tax Credit | Short-term Capital Gain | Long-term Capital Gain | Reinvestment Price |
---|---|---|---|---|---|---|---|---|---|---|
Class S | 12/7/23 | 12/8/23 | 12/11/23 | 95.52% | 0.180678 | - | 0.022678 | - | - | 9.76 |
Class D | 12/7/23 | 12/8/23 | 12/11/23 | 95.52% | 0.2076 | - | 0.0222 | - | - | 9.81 |
Shareholders should not use this information for tax reporting purposes. Form 1099 will be sent at a later date for all tax reporting.
The table above includes the percentage of 2023 dividend and net short-term capital gain distributions, by fund, that are eligible for reduced tax rates as "qualified dividend income" (QDI). QDI-eligible amounts, including any net short-term capital gains, are reported to shareholders in Box 1b of Form 1099-DIV. For those shareholders who do not receive a Form 1099-DIV, QDI-eligible amounts can be determined by applying the relevant percentages from the table to the dividend and net short-term capital gain distributions shown on the shareholder's 2023 year-end account statement. Individual questions should be referred to your tax advisor.
Carefully consider the fund's investment objectives, strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here.
Before investing in the Selected Funds, you should carefully consider the investment objectives, risks, charges, and expenses of the Funds. The prospectus and summary prospectus contains this and other information about the Funds. You can obtain performance information and a current prospectus and summary prospectus by visiting selectedfunds.com or calling 800.243.1575. Please read the prospectus or summary prospectus carefully before investing or sending money. Investing involves risks including possible loss of principal.