<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 0000088808
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 SELECTED AMERICAN SHARES, INC.
001 B000000 811-51
001 C000000 5058203000
002 A000000 124 EAST MARCY STREET
002 B000000 SANTA FE
002 C000000 NM
002 D010000 87504
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
<PAGE> PAGE 2
007 C013000 30
008 A000001 DAVIS SELECTED ADVISERS, L.P.
008 B000001 A
008 C000001 801-31648
008 D010001 SANTA FE
008 D020001 NM
008 D030001 87501
011 A000001 DAVIS SELECTED ADVISERS, L.P.
011 B000001 8-39258
011 C010001 SANTA FE
011 C020001 NM
011 C030001 87501
012 A000001 INVESTORS FIDUCIARY TRUST COMPANY
012 B000001 85-535
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
013 A000001 TAIT, WELLER & BAKER
013 B010001 PHILADELPHIA
013 B020001 PA
013 B030001 19107
015 A000001 INVESTORS FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 KANSAS CITY
015 C020001 MO
015 C030001 64141
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 14
019 C000000 DAVISSELEC
020 A000001 *AUTRANET, INC.
020 B000001 13-2961507
020 C000001 219
020 A000002 *NEUBERGER & BERMAN
020 B000002 13-5521910
020 C000002 36
020 A000003 *GOLDMAN SACHS
020 B000003 13-5108880
020 C000003 32
020 A000004 *RAUSCHER PIERCE REFSNES, INC.
020 B000004 75-1828470
020 C000004 30
020 A000005 *MERRILL LYNCH, PIERCE, FENNER & SMITH INC
020 B000005 13-5674085
020 C000005 27
020 A000006 *SMITH BARNEY, INC.
020 B000006 13-1912900
020 C000006 26
020 A000007 *DEAN WITTER REYNOLDS, INC.
020 B000007 94-1671384
<PAGE> PAGE 3
020 C000007 23
020 A000008 *BERNSTEIN (SANFORD C.) & CO., INC.
020 B000008 13-2625874
020 C000008 21
020 A000009 *PARKER / HUNTER INCORPORATED
020 B000009 25-1200102
020 C000009 19
020 A000010 *DONALDSON, LUFKIN & JENRETTE SECURITIES CORP
020 B000010 13-2741729
020 C000010 19
021 000000 802
022 A000001 *PAINE WEBBER, INC.
022 B000001 13-2638166
022 C000001 534059
022 D000001 425
022 A000002 *STATE STREET BANK & TRUST COMPANY
022 B000002 04-1867445
022 C000002 461745
022 D000002 0
022 A000003 *FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000003 36-3595942
022 C000003 83767
022 D000003 0
022 A000004 *THE FIRST BOSTON CORP.
022 B000004 13-5659485
022 C000004 23309
022 D000004 0
022 A000005 *MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000005 13-5674085
022 C000005 16317
022 D000005 0
022 A000006 *SCHWAB (CHARLES) & CO., INC.
022 B000006 94-1737782
022 C000006 15622
022 D000006 0
022 A000007 *LEHMAN BROTHERS INC.
022 B000007 13-2518466
022 C000007 14348
022 D000007 0
022 A000008 *CHEMICAL SECURITIES OF TEXAS, INC.
022 B000008 76-0159718
022 C000008 5954
022 D000008 0
022 A000009 *BEAR, STEARNS & CO. INC.
022 B000009 13-3299429
022 C000009 1014
022 D000009 0
022 A000010 *MORGAN STANLEY & CO. INCORPORATED
022 B000010 13-2655998
022 C000010 0
022 D000010 899
<PAGE> PAGE 4
023 C000000 1156135
023 D000000 1324
024 000000 Y
025 A000001 DEAN WITTER REYNOLDS, INC.
025 B000001 94-1671384
025 C000001 E
025 D000001 21851
025 A000002 MORGAN STANLEY GROUP INC.
025 B000002 13-2655998
025 C000002 E
025 D000002 33464
025 A000003 DONALDSON, LUFKIN & JENRETTE, INCORPORATED
025 B000003 13-2741729
025 C000003 E
025 D000003 14065
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 15189
028 A020000 0
028 A030000 0
028 A040000 12861
028 B010000 27781
028 B020000 0
028 B030000 0
028 B040000 7496
028 C010000 21874
028 C020000 3284
028 C030000 0
028 C040000 5837
028 D010000 20273
028 D020000 0
028 D030000 0
028 D040000 11823
028 E010000 71412
028 E020000 0
028 E030000 0
028 E040000 28723
028 F010000 31481
<PAGE> PAGE 5
028 F020000 57705
028 F030000 0
028 F040000 28420
028 G010000 188010
028 G020000 60989
028 G030000 0
028 G040000 95160
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 1502
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.650
048 B010000 500000
048 B020000 0.600
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
<PAGE> PAGE 6
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1000000
048 K020000 0.550
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
<PAGE> PAGE 7
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 E000000 Y
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 475053
071 B000000 322135
<PAGE> PAGE 8
071 C000000 1094380
071 D000000 29
072 A000000 12
072 B000000 919
072 C000000 19865
072 D000000 0
072 E000000 0
072 F000000 6771
072 G000000 0
072 H000000 0
072 I000000 683
072 J000000 330
072 K000000 0
072 L000000 119
072 M000000 272
072 N000000 87
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 28
072 S000000 138
072 T000000 2739
072 U000000 0
072 V000000 0
072 W000000 105
072 X000000 11272
072 Y000000 0
072 Z000000 9512
072AA000000 83895
072BB000000 0
072CC010000 212459
072CC020000 0
072DD010000 9662
072DD020000 0
072EE000000 77557
073 A010000 0.1700
073 A020000 0.0000
073 B000000 1.3100
073 C000000 0.0000
074 A000000 1
074 B000000 12605
074 C000000 0
074 D000000 9440
074 E000000 30808
074 F000000 1319373
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 9847
<PAGE> PAGE 9
074 M000000 0
074 N000000 1382074
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 5608
074 S000000 0
074 T000000 1376466
074 U010000 63941
074 U020000 0
074 V010000 21.53
074 V020000 0.00
074 W000000 0.0000
074 X000000 26046
074 Y000000 0
075 A000000 0
075 B000000 1095562
076 000000 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 6500
081 A000000 Y
081 B000000 13
082 A000000 Y
082 B000000 100
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE CARL R. LUFF
TITLE TREASURER