But you can dodge that load by buying Selected American Shares. (Annual expense ratios nearly match at 0.95% and 0.94%.) Davis and Feinberg took over Selected American Shares in 1995, and since then Selected's 12.2% annual return has outpaced the Davis fund's 11%.

FORBES: Moonlight Special

On a different front, Davis Advisors, the sponsor of Selected American and Selected Special Shares, two celebrated no-loads, also recently acted on behalf of shareholders.

FORBES: Supermarket Sweepstakes