NNUTU Hawaiian Macadamia Nut Orchards LP (GM)

The following shareholders’ fees (paid directly from your investment) are the same for SDGF and DGMMF.

Davis Government Money Market Fund

Selected Daily Government Fund pays Davis a flat fee at an annual rate of 0.30% of net assets.

Examples

The examples below are intended to help you compare the cost of investing in SDGF with the cost of investing in DGMMF. The examples assume that you invest $10,000 in the specified fund for the time periods indicated, that your investment has a 5% return each year, that all dividends and capital gain distributions are reinvested, and that the operating expenses remain the same as shown above. The examples do not reflect the impact of any fee waivers or expense reimbursements. The examples assuming redemption do not reflect the effect of any taxable gain or loss at the time of the redemption. Although your actual costs may be higher or lower, based on these assumptions, your cumulative estimated expenses would be as shown in the respective table below (footnotes for all tables appear after the final table).

DGMMF’s Gross Expense Ratio is not expected to materially change as a result of the merger with SDGF.

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Expenses based upon gross expenses prior to fee waivers and expense reimbursements

Pro Forma

Investment Results for Periods Ended December 31, 2012

The bar charts below show how SDGF investment results have varied from year to year, and the Investment Results table following each bar chart shows SDGF average annual total returns for various periods. All Fund results reflect the reinvestment of dividends, if any. Fund results reflect any fee waivers and/or expense reimbursements. Past results are not predictive of future results.

Annual Total Returns for SDGF Class S Shares

for the years ended December 31

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Selected Daily Government Fund Yield, Class S Shares

as of December 31, 2012

You can obtain Selected Daily Government Fund’s most recent 7-day SEC Yield by calling Investor Services toll-free at 1-800-243-1575, Monday through Friday, from 9 a.m. to 6 p.m. Eastern time.

Annual Total Returns for DGMMF Class A Shares

for the years ended December 31

Davis Government Money Market Fund 7-Day SEC Yield, Class A, B, C & Y Shares

as of December 31, 2012

You can obtain Davis Government Money Market Fund’s most recent 7-day SEC Yield by calling Investor Services toll-free at 1-800-279-0279, Monday through Friday, from 9 a.m. to 6 p.m. Eastern time.

Comparison of Investment Objective, Principal Strategies and Risks

Investment Objective

Both Funds are money market funds (both seek to maintain a $1.00 net asset value per share) investing

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exclusively in U.S. Treasury securities, U.S. Government agency securities, U.S. Government agency mortgage securities (collectively “U.S. Government Securities”), and repurchase agreements collateralized by U.S. Government Securities.

SDGF’s investment objective is to provide as high a level of current income as possible from the type of short-term investments in which it invests, consistent with prudent investment management, stability of principal and maintenance of liquidity.

DGMMF’s investment objective is to achieve as high a level of current income as is consistent with the principle of preservation of capital and maintenance of liquidity.

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Principal Investment Strategies

Both Funds are money market funds that seek to preserve the value of your investment at $1.00 per share. There can be no guarantee that either Fund will be successful in maintaining a $1.00 share price.

Both Funds invest exclusively in U.S. Treasury securities, U.S. Government agency securities, U.S. Government agency mortgage securities (collectively “U.S. Government Securities”), and repurchase agreements collateralized by U.S. Government Securities. The Funds seek to maintain liquidity and preserve capital by carefully monitoring the maturity of its investments. The Funds’ portfolios maintain a dollar-weighted average maturity of sixty days or less.

Principal Investment Risks

Because of their similar investment objectives and strategies, DGMMF and SDGF have substantially similar risks. The following is a discussion of the principal risks of investing in DGMMF and SDGF. This discussion is qualified in its entirety by the more extensive discussion of risk factors set forth in the prospectuses and statements of additional information of DGMMF and SDGF. After the Reorganization, the investments of each shareholder will be subject to DGMMF risks.

U.S. Government Securities risk. Government securities, like other debt securities, generally, are interest rate sensitive. During periods of falling interest rates, the values of debt securities held by the Fund generally rise. Conversely, during periods of rising interest rates, the values of such securities generally decline. Changes by recognized rating services in their ratings of debt securities and changes in the ability of an issuer to make payments of interest and principal also will affect the value of these investments.

Repurchase Agreement risk. The repurchase obligation of the seller is, in effect, secured by the underlying securities. In the event of a bankruptcy or other default of a seller of a repurchase agreement, a Fund could experience both delays in liquidating the underlying securities and losses.

Variable Current Income risk. The income which a Fund pays to investors is not stable.

Interest Rate risk. Interest rate increases can cause the price of a debt security to decrease.

Inflation risk. Also called purchasing power risk, is the chance that the cash flows from an investment won’t be worth as much in the future because of changes in purchasing power due to inflation.

Credit risk. The issuer of a fixed income security (potentially even the U.S. Government) may be unable to make timely payments of interest and principal.

Changes in Debt Rating risk. If a rating agency gives a fixed income security or its issuer a low rating, the value of the security will decline because investors will demand a higher rate of return.

Fees and Expenses risk. A Fund may not earn enough through income to offset the operating expenses of the Fund. All mutual funds incur operating fees and expenses. Fees and expenses reduce the return which a shareholder may earn by investing in a fund, even when a fund has favorable performance. A low return environment, or a bear market, increases the risk that a shareholder may lose money.

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Disclosure of Portfolio Holdings

DGMMF and SDGF have identical policies regarding disclosure of their portfolio securities. A description of DGMMF’s and SDGF’s policies and procedures with respect to the disclosure of the portfolio securities is available in the Statement of Additional Information for each fund.

Investment Restrictions and Limitations

The fundamental and non-fundamental investment policies of SDGF and DGMF are substantially the same. Appendix B contains a complete list of those policies. After the Reorganization, the assets of SDGF’s shareholders will be managed subject to the fundamental and non-fundamental investment restrictions and limitations of DGMMF.

Legal Proceedings

Neither SDGF nor DGMMF are currently subject to any legal proceedings which the Adviser believes have the potential to have a material impact on the Funds’ operations.

The following is a summary of key information concerning the proposed Reorganization; however, this summary is qualified in its entirety by reference to the Agreement, a copy of which is attached to this Proxy Statement/Prospectus in Appendix A.

On September 10, 2013, the Board of Directors of DGMMF approved the Agreement. On October 25, 2013, the Board of Trustees of SDGF approved the Agreement which contemplates the transfer to DGMMF of all of the assets of SDGF in exchange for Class A shares of DGMMF and the assumption by DGMMF of all of SDGF’s liabilities. Following the transfer, the Class A shares of DGMMF will be distributed to shareholders of SDGF in liquidation of the Fund and SDGF will subsequently be dissolved. SDGF will also terminate its registration under the 1940 Act by filing the appropriate application with the SEC.

Both Funds are money market funds (both seek to maintain a $1.00 net asset value per share) investing exclusively in U.S. Treasury securities, U.S. Government agency securities, U.S. Government agency mortgage securities (collectively “U.S. Government Securities”), and repurchase agreements collateralized by U.S. Government Securities. The Board of Trustees of SDGF believes that the Reorganization would not materially alter the nature of the investments of the Fund’s shareholders.

As a result of the Reorganization, each shareholder of SDGF will receive one Class A share of DGMMF for each Class S or Class D share of SDGF that such shareholder holds at the time of the transaction (the “Closing Date”). The Closing Date is currently scheduled to take place on December 27, 2013, and will take place in conjunction with the liquidation and dissolution of SDGF. The Boards of each Fund have determined that the interests of existing shareholders will not be diluted as a result of the transactions contemplated by the Reorganization. For the reasons set forth below under “Reasons for the Reorganization,” the Board of Trustees of SDGF, including its Independent Trustees, concluded that the Reorganization would be in the best interest of the shareholders of SDGF and recommends approval of the Agreement.

Completion of the Reorganization is subject to a number of conditions set forth in the Agreement, some of which may be waived by the Parties. The Agreement may be amended in any mutually agreeable manner, except that no amendment that may have a materially adverse effect on the interests of the shareholders of a Fund may be made after the Special Meeting of SDGF’s shareholders.

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SDGF will pay its expenses associated with the Reorganization, including the expenses of soliciting proxies.

DGMMF is an authorized series of Davis Series, Inc. which is registered with the SEC as an open-end management investment company. DGMMF may issue shares in different classes. The Fund’s shares currently are divided into four classes of shares: A, B, C and Y. The Board of Directors may offer additional series or classes in the future and may at any time discontinue the offering of any series or class of shares. Each share, when issued and paid for in accordance with the terms of the offering, is fully paid and non-assessable. Shares have no preemptive or subscription rights. Each of Davis Series, Inc.’s shares represent an interest in the assets of the series issuing the share and has identical voting, dividend, liquidation and other rights and the same terms and conditions as any other shares except that: (i) each dollar of net asset value per share is entitled to one vote; (ii) the expenses related to a particular class, such as those related to the distribution of each class and the transfer agency expenses of each class are borne solely by each such class; (iii) each class of shares votes separately with respect to provisions of the Rule 12b-1 Distribution Plan that pertain to a particular class; and (iv) other matters for which separate class voting is appropriate under applicable law. Each fractional share has the same rights, in proportion, as a full share.

For some issues, such as the election of directors, all of Davis Series, Inc.’s authorized series vote together. For other issues, such as approval of the advisory agreement, each authorized series votes separately. Shares do not have cumulative voting rights; therefore, the holders of more than 50% of the voting power can elect all of the directors. Rule 18f-2 under the 1940 Act provides that any matter required to be submitted under the provisions of the 1940 Act or applicable state law or otherwise to the shareholders of the outstanding voting securities of an investment company will not be deemed to have been effectively acted on unless approved by the holders of a majority of the outstanding shares of each series affected by such matter. Rule 18f-2 further provides that a series shall be deemed to be affected by a matter unless it is clear that the interests of each series in the matter are identical or that the matter does not affect any interest of such series. Rule 18f-2 exempts the selection of independent accountants and the election of Board members from the separate voting requirements of the Rule.

In accordance with Maryland law and Davis Series, Inc.’s bylaws, DGMMF does not hold regular annual shareholder meetings. Shareholder meetings are held when they are required under the 1940 Act or when otherwise called for special purposes. Special shareholder meetings may be called on the written request of shareholders of at least 25% of the voting power that could be cast at the meeting. Davis Series, Inc. will provide assistance in calling and holding such special meetings to the extent required by Maryland statutes or SEC rules and regulations then in effect.

DGMMF’s Shares will be sold and redeemed based upon the net asset value (“NAV”) per share of DGMMF’s shares next determined after receipt of the purchase or redemption request. As further described in DGMMF’s Prospectus and Statement of Additional Information, DGMMF seeks to preserve an NAV of $1.00 per share.

SDGF and DGMMF offer checkwriting privileges. Upon completion of the Reorganizations, redemptions based on checks written from a SDGF account may be debited from your Class A share account in DGMMF.

Davis recommended the Reorganization. On September 10, 2013, the Board of Directors of DGMMF approved the Reorganization. On October 25, 2013, the Board of Trustees of SDGF approved the

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Reorganization. The Boards have each determined that the Reorganization is in the best interests of the shareholders of the respective Fund and that the Reorganization will not result in a dilution of the interests of shareholders of either Fund. Each Board has approved the Agreement and the Reorganization and the Boards of Trustees of SDGF recommends that its shareholders vote in favor of the Reorganization by approving the Agreement.

In the current low interest rate environment, Davis Selected Advisers, L.P. has been waiving management fees and reimbursing expenses to enable SDGF to maintain a net asset value of $1.00 per share. Due to SDGF’s small size, and anticipated share redemptions, it is not economical for Davis Selected Advisers, L.P. to continue to waive management fees and reimburse expenses.

In considering the Reorganization, the Boards considered a number of factors, including, among others, the following:

(1) The current credit and interest rate environment has made it very difficult for money market funds to maintain a $1.00 per share net asset value. If they invest substantially in U.S. Treasury securities, expenses will generally exceed gross yields.

(2) Due to the current low interest rate environment, Davis is waiving virtually all investment management fees and reimbursing some of the Funds’ operating expenses to preserve the Funds’ $1.00 per share net asset value. The Boards have been informed by Davis that the current situation is not sustainable by Davis in the long run.

(3) The Board of Trustees of SDGF considered that the gross expense ratio (prior to Davis’ fee waivers and expense reimbursements) of DGMMF is currently less than the gross expense ratio of SDGF (prior to Davis’ fee waivers and expense reimbursements). The merger of SDGF into DGMMF is not expected to have a material impact on the gross expense ratio of DGMMF.

(4) As a result of anticipated redemptions from SDGF, the Fund’s gross expense ratio is expected to increase. Davis is contractually committed to waive fees and/or reimburse SDGF’s expenses such that investment income will not be less than zero until May 1, 2014. Davis Advisors is not obligated to waive and/or reimburse SDGF’s expenses past May 1, 2014.

(5) Both Funds are money market funds (both seek to maintain a $1.00 net asset value per share) investing exclusively in U.S. Treasury securities, U.S. Government agency securities, U.S. Government agency mortgage securities (collectively “U.S. Government Securities”), and repurchase agreements collateralized by U.S. Government Securities. In addition, Davis is the investment manager of DGMMF as well as SDGF, and the portfolio manager and the other service providers of DGMMF (and their fee arrangements with the fund) are identical to those of SDGF.

(6) The Reorganization is intended to permit SDGF shareholders to exchange their investment for an investment in DGMMF without recognizing a gain or loss for federal income tax purposes.

(7) Davis Selected Advisers, L.P., which serves as the investment adviser for both funds has a conflict of interest in recommending the merger. SDGF pays Davis Selected Advisers, L.P. a flat management fee of 0.30% while DGMMF pays Davis a management fee which begins at 0.50% and scales down to 0.40% as total net assets increase. Thus, Davis Selected Advisers, L.P. could potentially earn higher management fees on the assets merged from SDGF into DGMMF. In the current low interest rate environment, Davis Selected Advisers, L.P. has been waiving management fees and reimbursing expenses for both SDGF and DGMMF to enable the Funds to maintain a net asset value of $1.00 per share. Greenberg Traurig, LLP also has a conflict of interest in that it serves as counsel to both Funds and counsel to the Independent Directors of both Funds.

(8) The Funds have different exchange options. SDGF is part of the Selected Funds family of funds and shares of SDGF may be exchanged for shares of other members of the Selected Funds family of funds but not the Davis Funds family of funds. DGMMF is part of the Davis Funds family of funds and shares of

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DGMMF may be exchanged for shares of other members of the Davis Funds family of funds but not the Selected Funds family of funds. Selected Funds offer shares on a “No-Load” basis, without charging a front-end, back-end, or continuing sales charge. Davis Funds offer multiple classes of shares, many on a “load” basis charging either a front-end, back-end, or continuing sales charge. If shares of DGMMF acquired in the merger are exchanged for other Davis Funds, the exchange may be subject to a sales charge.

After considering all the factors above, the Board of Trustees for SDGF recommend a vote IN FAVOR of the proposed Agreement and the resulting Reorganization.

If the Agreement is not approved by the shareholders of SDGF, the Board of Trustees may consider other alternatives, such as the liquidation of the Fund. Such other actions may require shareholder approval.

Both Funds intend to qualify, as of the Closing Date, as a “regulated investment company” under the Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, both of the Funds have been, and expect to continue to be, relieved of all or substantially all federal income taxes. The exchange of the assets of SDGF for shares of DGMMF and the assumption by DGMMF of the liabilities of SDGF, and the liquidation of SDGF, are intended to qualify for federal income tax purposes as a tax-free reorganization under Section 368(a)(1)(C) of the Code. The Funds do not intend to obtain an independent tax opinion. Based on certain assumptions and on the existing provisions of the Code, Treasury regulations issued thereunder, current Revenue Rulings, Revenue Procedures and court decisions, for federal income tax purposes, Davis believes that:

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Shareholders of SDGF should consult their tax advisers regarding the effect, if any, of the Reorganization in light of their individual circumstances, including state and local tax consequences, if any, of the Reorganization.

The Funds do not intend to obtain an independent tax opinion. There can be no assurance that the Internal Revenue Service will not take a contrary position, that the applicable law will not change, or that any such change will not have retroactive effect.

Significant holders of the Funds. Pursuant to the Internal Revenue Service Code Section 1.368-3(b), each significant holder of a fund, as defined therein, must include a statement on or with its return for the taxable year of the Reorganization stating the names and employer identification numbers (if any) of all of the parties to the Reorganization, the date of the Reorganization, and the fair market value of the shares of the fund held by such holder and the holder’s basis in such shares immediately before the Reorganization. This is not tax advice and should not be relied on as such. Please consult your tax adviser for more information.

Set forth below is a discussion of the material differences between SDGF and the rights of its shareholders and DGMMF and the rights of its shareholders. Further information about DGMMF and SDGF can be found in their respective Prospectuses and Statements of Additional Information. A summary of Ohio business trust law and Maryland corporation law, and a comparison of the relevant provisions of the governing documents of DGMMF and SDGF, are included in Appendix C to this Proxy Statement/Prospectus.

Organization . DGMMF is a series of Davis Series, Inc. which is organized as a Maryland corporation. SDGF is the sole series of Selected Capital Preservation Trust which is organized as an Ohio business trust. SDGF is authorized to issue an unlimited number of shares of beneficial interest. Davis Series has been authorized to issue 10,000,000,000 shares. Each Fund’s operations are governed by their respective formation documents, as amended, by-laws and applicable state laws as well as the 1940 Act.

Shareholder Liability . Under Maryland law, shareholders of a corporation generally have limited liability as corporate shareholders and are permitted broad indemnification rights. Under Ohio law, shareholders of an Ohio business trust, under certain circumstances, could be held personally liable for the obligations of the business trust. However, SDGF’s Declaration of Trust provides that no Shareholder shall be subject to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. In addition, the risk of a shareholder of either SDGF or DGMMF incurring financial loss on account of shareholder liability is remote because it is limited to circumstances in which the Funds themselves would be unable to meet their obligations.

Ohio business trust law does not explicitly provide for the separation of assets and liabilities among separate series of an Ohio business trust. By contrast, the Maryland statute provides a mechanism so that the liabilities of a particular series are only enforceable against the assets of that series and not against the assets of the company, generally, or any of its other series.

Comparison of Voting Rights. Each shareholder of DGMMF is entitled to one vote for each dollar of net asset value of the Fund such shareholder owns. Each shareholder of SDGF is entitled to one vote for share or fraction of a share of the Fund such shareholder owns. Shareholders of the Funds are not entitled to cumulative voting in the election of Trustees or Directors. Unless a larger number is required by law, the presence in person or by proxy of (one-quarter for SDGF or one-third for DGMMF) the outstanding shares entitled to vote on a matter constitutes a quorum for a shareholder’s meeting.

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SDGF and DGMMF have adopted similar pricing procedures. Both funds comply with Rule 2a-7 and seek to preserve the net asset value of each share class at $1.00. Both of the Funds calculate their net asset value each day the New York Stock Exchange is open for trading as of approximately 4 p.m. New York time, the normal close of regular trading.

SDGF and DGMMF have similar share purchase and redemption policies. Shares of the Funds will be purchased or redeemed at the net asset value per share next determined after a shareholder’s request is received and accepted.

The investment minimum as well as minimum additional investment will vary based on share class as shown in the table below:

Both Funds declare daily dividends from net investment income and distribute the accrued dividends to shareholders each month.

The Funds have different exchange options. SDGF is part of the Selected Funds family of funds and shares of SDGF may be exchanged for shares of other members of the Selected Funds family of funds, but not the Davis Funds family of funds. DGMMF is part of the Davis Funds family of funds and shares of DGMMF may be exchanged for shares of other members of the Davis Funds family of funds but not the Selected Funds family of funds. Selected Funds offer shares on a “No-Load” basis without charging a front-end, back-end, or continuing sales charge. Davis Funds offer shares on a “load” basis charging either a front-end, back-end, or continuing sales charge. If shares of DGMMF acquired in the merger are exchanged for other Davis Funds, the exchange may be subject to a sales charge.

Further information regarding these matters is available in the relevant Fund’s prospectus and Statement of Additional Information.

The following table sets forth as of June 30, 2013: (1) the unaudited capitalization of SDGF, and (2) the unaudited pro forma combined capitalization of DGMMF and SDGF assuming the Reorganization has been approved and completed. If the Reorganization is completed, the capitalizations are likely to be different on the Closing Date as a result of daily share purchase and redemption activity in the Funds.

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Davis Selected Advisers, L.P. (“Davis”) serves as investment adviser to both SDGF and DGMMF. Davis Selected Advisers-NY, Inc. serves as a sub-adviser to SDGF and DGMMF. The principal office of Davis is 2949 East Elvira Road, Suite 101, Tucson, Arizona 85756. The principal office of Davis Selected Advisers-NY, Inc. is 620 Fifth Avenue, New York, NY 10020. The total management fees paid by SDGF and DGMMF, as a percentage of average net assets, for the previous fiscal year (and estimated for the current fiscal year of DGMMF) appear in the Operating Expenses table above under the heading “Comparison Fee Table and Examples.”

Davis Distributors, LLC. is the principal underwriter of the shares of both SDGF and DGMMF. No share class of SDGF or DGMMF is sold with an initial sales charge or a contingent deferred sales charge. Davis Distributors LLC’s principal office is at 2949 East Elvira Road, Suite 101, Tucson, Arizona, 85756.

Boston Financial Data Services, Inc., P.O. Box 8243, Boston, Massachusetts 02266-8243, serves as the transfer agent for both SDGF and DGMMF. As the transfer agent, Boston Financial Data Services maintains the records of shareholder accounts, processes purchases and redemptions of shares of the Funds, acts as dividend and capital gain distribution disbursing agent for the Funds, and performs other related shareholder service functions for the Funds. For certain shareholder accounts, third parties who may be unaffiliated with Davis provide transfer agency and shareholder services in place of Boston Financial Data Services. These services are rendered under agreements with Davis Distributors LLC or its affiliates and the third parties receive compensation according to such agreements, which will remain in place after the reorganization.

State Street Bank and Trust Company, One Lincoln Street, Boston, Massachusetts, 02111 is the custodian for the cash and securities of both SDGF and DGMMF.

The financial highlights for SDGF and DGMMF are intended to help you understand the financial performance of the Funds for the past five fiscal years. This information, with the exception of the information for the six months ended June 30, 2013, has been audited by the Funds’ independent registered public accounting firm, KPMG LLP, whose reports, along with the Funds’ financial statements and related notes, are included in the Funds’ annual reports, which are available by request and are incorporated by reference herein.

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THE BOARD RECOMMENDS

A VOTE “FOR” THE PROPOSED REORGANIZATION.

This Proxy Statement/Prospectus is being provided in connection with the solicitation of proxies by the Board of Trustees of SDGF to solicit your vote for the proposed Reorganization at a Special Meeting of the shareholders of SDGF. The Special Meeting will be held at the offices of Davis Selected Advisers, L.P., 3601 E. Britannia, Tucson, Arizona 85706, on December 16, 2013, at 8:30 a.m. Mountain Standard Time.

You may vote in one of four ways:

PLEASE NOTE THAT, TO VOTE VIA THE INTERNET OR TELEPHONE, YOU WILL NEED THE “CONTROL NUMBER” THAT APPEARS ON YOUR PROXY BALLOT.

You may revoke a proxy once it is given. If you want to revoke a proxy, you must submit a subsequent proxy or a written notice of revocation to SDGF. You may also give written notice of revocation in person at the Special Meeting. All properly executed proxies received in time for the Special Meeting will be voted as specified in the proxy, or, if no specification is made, FOR each proposal.

Only shareholders of record on October 25, 2013, (the “Record Date”), are entitled to receive notice of and to vote at the Special Meeting or at any adjournment thereof. Each whole share of SDGF held as of the close of business on the Record Date is entitled to one vote and each fractional share is entitled to a proportionate fractional vote at the Fund’s Special Meeting.

A majority of the shareholders of SDGF entitled to vote must be present in person or by proxy to constitute a quorum for SDGF. When a quorum is present, the affirmative vote of 50% or more of SDGF’s outstanding shares is required to approve the Reorganization of SDGF.

If a quorum of shareholders of SDGF is not present at the Special Meeting, or if a quorum is present but sufficient votes to approve the proposal described in this Proxy Statement/Prospectus with respect to SDGF are not received, the persons named as proxies may, but are under no obligation to, propose one or more adjournments of the Special Meeting for SDGF to permit further solicitation of proxies. Any business that might have been transacted at the Special Meeting with respect to SDGF may be transacted at any such adjourned session(s) at which a quorum is present. SDGF’s Special Meeting may be adjourned from time to time by a majority of the votes SDGF properly cast upon the question of adjourning the Special Meeting to another date and time, whether or not a quorum is present, and the Special Meeting may be held as adjourned without further notice. The persons named in the proxy will vote in favor of such adjournment those shares that they are entitled to vote in favor of the proposal if such adjournment is necessary to obtain a quorum or to obtain a favorable vote on the proposal. The persons named in the proxy will vote against adjournment those shares that they are entitled to vote if the shareholder proxies instruct the persons named in the proxy to vote against the proposal. The votes may be counted and proposals approved at a Special Meeting for the Fund, including a meeting after adjournment.

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All proxies voted, including abstentions and broker non-votes (shares held by brokers or nominees where the underlying holder has not voted and the broker does not have discretionary authority to vote the shares), will be counted toward establishing a quorum. In addition, under the rules of the New York Stock Exchange if a broker has not received instructions from beneficial owners or persons entitled to vote and the proposal to be voted upon may “affect substantially” a shareholder’s rights or privileges, the broker may not vote the shares as to that proposal even if it has discretionary voting power. As a result, such shares also will be treated as broker non-votes for purposes of proposals that may “affect substantially” a shareholder’s rights or privileges (but will not be treated as broker non-votes for other proposals, including adjournment of the Special Meeting).

Abstentions and broker non-votes will be treated as shares voted against a proposal. Treating broker non-votes as votes against a proposal can have the effect of causing shareholders who choose not to participate in the proxy vote to prevail over shareholders who cast votes or provide voting instructions to their brokers or nominees. In order to prevent this result, SDGF may request that selected brokers or nominees refrain from returning proxies on behalf of shares for which voting instructions have not been received from beneficial owners or persons entitled to vote. SDGF also may request that selected brokers or nominees return proxies on behalf of shares for which voting instructions have not been received if doing so is necessary to obtain a quorum.

Approval of a proposal will occur only if a sufficient number of votes are cast “FOR” the proposal. If shareholders of the Fund do not vote to approve the Reorganization, the Board of Trustees of SDGF will consider other possible courses of action with respect to SDGF, including liquidating SDGF.

A shareholder of SDGF who objects to the proposed Reorganization of SDGF will not be entitled under either Ohio business trust law or SDGF’s Declaration of Trust to demand payment for, or an appraisal of, his or her shares. Shareholders, however, should be aware that the Reorganization as proposed is not expected to result in recognition of a gain or loss to shareholders for federal income tax purposes. If the Reorganization is completed, shareholders will be free to redeem the shares of DGMMF that they receive in the transaction at their then current NAV. Shares of the Funds may be redeemed at any time prior to the consummation of the Reorganization at their current NAV. Shareholders of the Funds may wish to consult their tax advisors as to any different consequences of redeeming their shares prior to the Reorganization or exchanging such shares in the Reorganization.

This Proxy Statement/Prospectus is being sent to you in connection with the solicitation of proxies by the Board of Trustees of SDGF for use at the Special Meeting. The Fund expects that the solicitation of proxies will be primarily by mail and telephone. The solicitation may also include email or oral communications by certain employees of Davis, who will not be paid for these services. In addition, Boston Financial Data Services has been engaged to assist in the solicitation of proxies, at an estimated cost of between $10,000 and $20,000. SDGF will bear the costs of the Special Meeting, including legal costs and the cost of the solicitation of proxies. Davis Selected Advisers, L.P. has undertaken to reimburse expenses in order to maintain SDGF’s $1.00 per share net asset value, therefore, practically all expenses of the proposed reorganization will be reimbursed by Davis Selected Advisers, L.P.

Any shareholder of SDGF giving a proxy may revoke it before it is exercised at the Fund’s Special Meeting, either by providing written notice to SDGF, by submission of a later-dated and duly executed proxy or by voting in person at the Special Meeting. A prior proxy can also be revoked by proxy by voting again through the toll-free number or the web address listed in the enclosed Voting Instructions. If not so revoked, the votes will be cast at the Special Meeting and any postponements or adjournments thereof. Attendance by a shareholder at the Special Meeting does not, by itself, revoke a proxy for that Special Meeting.

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As of October 25, 2013, shareholders of record and/or beneficial owners (to SDGF’s knowledge) who owned five percent or more of the Fund’s shares are set forth below:

As of October 25, 2013, the Officers and Trustees of SDGF, as a group, owned of record and beneficially approximately 2% of the outstanding voting securities SDGF.

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A beneficial owner of 25% or more of voting securities of a Fund is presumed to have “control” of the Fund for purposes of the 1940 Act, absent a determination to the contrary by the SEC. A person who controls a Fund could have effective control over the outcome of matters submitted to a vote of shareholders of the Fund. Based on the information provided above, as of October 31, 2013, Shelby Cullom Davis & Co., L.P. (Shelby Cullom Davis & Co., L.P., may be contacted by sending a letter in care of Davis at Davis’ principal address), owned a controlling interest in SDGF. Shelby Cullom Davis & Co., L.P. receives no extra or special benefit not shared on a pro rata basis by all other holders of the same Class of shares.

Davis serves as investment adviser to both SDGF and DGMMF. DGMMF pays Davis a higher management fee computed as a percentage of assets than does SDGF (see Comparison of Advisory Fees and Break Point Schedules, above). Consequently, transferring assets from SDGF to DGMMF would increase the gross advisory fees received by Davis on the transferred assets. However, Davis is currently waiving the advisory fees and reimbursing expenses for both Funds.

(Including Prospectuses, Annual Report, Semi-Annual Report and Statement of Additional Information)

DGMMF

By Telephone. Call Davis Funds toll-free at 1-800-279-0279 , Monday through Friday, from 9 a.m. to 6 p.m. Eastern time. You may also call this number for account inquiries.

By Mail. Write to Davis Funds c/o State Street Bank and Trust Company, P.O. Box 8406, Boston, MA 02266-8406.

On the Internet. www.davisfunds.com.

SDGF

By Telephone. Call Selected Funds toll-free at 1- 800-243-1575 , Monday through Friday, from 9 a.m. to 6 p.m. Eastern time. You may also call this number for account inquiries.

By Mail. Write to Selected Funds c/o State Street Bank and Trust Company, P.O. Box 8243, Boston, MA 02266-8243.

On the Internet. www.selectedfunds.com.

DGMMF or SDGF

DGMMF and SDGF are subject to the informational requirements of the Exchange Act and in accordance therewith, file reports and other information with the Securities and Exchange Commission.

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From the SEC. Additional copies of the registration statement can be obtained, for a duplicating fee, by visiting the Public reference Room or writing the Public Reference Section of the SEC, Washington, DC 20549-1520, or by sending an electronic request to publicinfo@sec.gov . Reports and other information about the Fund are also available on the EDGAR database on the SEC website ( www.sec.gov ). For more information on the operations of the Public Reference Room, call 1-202-551-8090.

Shareholder reports, proxy statements, registration statements and other information filed by SDGF and DGMMF may be inspected without charge and copied at the public reference facilities maintained by the SEC at 100 F Street, N.E., Washington, DC 20549.

The Board of Trustees of SDGF knows of no other business to be brought before the Special Meeting. If any other matters come before a Fund’s Special Meeting, the Board of Trustees of SDGF intends that proxies that do not contain specific restrictions to the contrary will be voted on those matters in accordance with the judgment of the persons named in the enclosed form of proxy.

SDGF is not required and does not intend to hold annual or other periodic meetings of shareholders except as required by the 1940 Act. By observing this policy, SDGF seeks to avoid the expenses customarily incurred in the preparation of proxy materials and the holding of shareholder meetings, as well as the related expenditure of staff time. If the Reorganization is not completed, the next meeting of the shareholders of SDGF (if any), will be held at such time as the Board of Trustees may determine or at such time as may be legally required. Any shareholder proposal intended to be presented at such meeting must be received by SDGF at its office at a reasonable time before SDGF begins to print and mail its proxy, as determined by the Board of Trustees, to be included in SDGF’s proxy statement and form of proxy relating to that meeting, and must satisfy all other legal requirements.

Greenberg Traurig, LLP serves as counsel to the Selected Funds and their Independent Directors/Trustees. Greenberg Traurig, LLP also serves as counsel to the Davis Funds and their Independent Directors.

The financial statements of both SDGF and DGMMF for the year ended December 31, 2012, contained in the Funds’ 2012 Annual Reports to Shareholders, have been audited by KPMG, LLP, an independent registered public accounting firm, which are incorporated herein by reference and have been so incorporated in reliance upon the report of such firm given on their authority as experts in accounting and auditing.

By Order of the Board of Trustees of Selected Daily Government Fund, an authorized series of Selected Capital Preservation Trust,

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Appendix A

AGREEMENT AND PLAN OF REORGANIZATION AND LIQUIDATION

THIS AGREEMENT AND PLAN OF REORGANIZATION (the “Agreement”) is made as of this 25th day of October, 2013, by and between Davis Series, Inc., a Maryland corporation, with its principal place of business at 3601 E. Britannia, Tucson Arizona 85756 (the “Surviving Fund Registrant”), on behalf of its series, Davis Government Money Market Fund (the “Surviving Fund”), and Selected Capital Preservation Trust, an Ohio business trust, with its principal place of business at 3601 E. Britannia, Tucson Arizona 85756 (the “Reorganizing Fund Registrant”), on behalf of its series, Selected Daily Government Fund (the “Reorganizing Fund” and, collectively with the Surviving Fund, the “Funds”).

The reorganization will consist of: (i) the transfer of all or substantially all of the assets of the Reorganizing Fund (which offers Class S and Class D Shares (the “Reorganizing Fund Shares”)) in exchange solely for Class A Shares of the Surviving Fund (“Surviving Fund Shares”); (ii) the distribution of the Surviving Fund Shares to the holders of outstanding Reorganizing Fund Shares, and (iii) the liquidation and dissolution of the Reorganizing Fund as provided herein, all upon the terms and conditions set forth in this Agreement (the “Reorganization”).

WHEREAS, the Surviving Fund and the Reorganizing Fund are separate series of the Surviving Fund Registrant and the Reorganizing Fund Registrant, respectively, the Surviving Fund Registrant and Reorganizing Fund Registrant are open-end, registered management investment companies, and the Reorganizing Fund owns securities that generally are assets of the character in which the Surviving Fund is permitted to invest;

WHEREAS, the Funds are authorized to issue their shares of beneficial interests;

WHEREAS, the Directors of the Surviving Fund Registrant have determined that the Reorganization, with respect to the Surviving Fund, is in the best interests of the Surviving Fund;

WHEREAS, the Trustees of the Reorganizing Fund Registrant have determined that the Reorganization, with respect to the Reorganizing Fund, is in the best interests of the Reorganizing Fund;

NOW, THEREFORE, in consideration of the premises and of the covenants and agreements hereinafter set forth, the parties hereto covenant and agree as follows:

ARTICLE I

TRANSFER OF ASSETS OF THE REORGANIZING FUND IN EXCHANGE FOR SURVIVING FUND

SHARES AND LIQUIDATION AND DISSOLUTION OF THE REORGANIZING FUND

1.1 THE EXCHANGE. Subject to the terms and conditions contained herein and on the basis of the representations and warranties contained herein, the Reorganizing Fund agrees to transfer all or substantially all of its assets, as set forth in paragraph 1.2, to the Surviving Fund. In exchange, the Surviving Fund agrees to deliver to the Reorganizing Fund the number of full and fractional Class A Shares of Surviving Fund Shares determined by multiplying (a) the outstanding shares of Class S Shares and Class D Shares Reorganizing Fund Shares by (b) the ratio computed by dividing (x) the net asset value per share of Class S Shares and Class D Shares Reorganizing Fund Shares by (y) the net asset value per share of Class A Shares of Surviving Fund Shares computed in the manner and as of the time and date set forth in paragraph 2.2. Holders of Class S Shares and Class D Shares of Reorganizing Fund Shares will receive Class A Shares of Surviving Fund Shares in exchange for their Reorganizing Fund Shares. Such transactions shall take place at the closing on the Closing Date provided for in paragraph 3.1.

1.2 ASSETS TO BE ACQUIRED. The assets of the Reorganizing Fund to be acquired by the Surviving Fund shall consist of property having a value equal to the total net assets of the Reorganizing Fund, including, without limitation, cash and securities owned by the Reorganizing Fund. The assets to be acquired by the Surviving Fund shall not include any deferred or prepaid expenses shown as an asset on the books of the Reorganizing Fund on the Closing Date, which shall be written down by the Reorganizing Fund immediately prior to the closing and excluded from the valuation of assets under paragraph 2.1 and the corresponding calculation of net asset value per share of each class of the Reorganizing Fund Shares under this Agreement.

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The Reorganizing Fund has provided the Surviving Fund with its most recent audited financial statements, which contain a list of all of the Reorganizing Fund’s assets as of the date of such statements. The Reorganizing Fund hereby represents that as of the date of the execution of this Agreement, there have been no changes in its financial position as reflected in such financial statements other than those occurring in the ordinary course of business in connection with the purchase and sale of securities, the issuance and redemption of Reorganizing Fund Shares and the payment of normal operating expenses, dividends and capital gains distributions.

1.3 LIABILITIES TO BE DISCHARGED. The Reorganizing Fund will discharge all of its liabilities and obligations prior to the Closing Date. Any liabilities of the Reorganizing Fund that have not been discharged will be assumed by the Surviving Fund at the Closing Date.

1.4 LIQUIDATION AND DISTRIBUTION. On or as soon after the Closing Date as is conveniently practicable: (a) the Reorganizing Fund will distribute in complete liquidation of the Reorganizing Fund, pro rata to its shareholders of record, determined as of the close of business on the Closing Date (the “Reorganizing Fund Shareholders”), all of the Surviving Fund Shares received by the Reorganizing Fund pursuant to paragraph 1.1; and (b) the Reorganizing Fund will thereupon proceed to dissolve and terminate as set forth in paragraph 1.8 below. Such distribution will be accomplished by the transfer of Surviving Fund Shares credited to the account of the Reorganizing Fund on the books of the Surviving Fund to open accounts on the share records of the Surviving Fund in the name of the Reorganizing Fund Shareholders, and representing the respective pro rata number of Surviving Fund Shares due to such shareholders. All issued and outstanding Reorganizing Fund Shares will simultaneously be canceled on the books of the Reorganizing Fund. The Surviving Fund shall not issue certificates representing Surviving Fund Shares in connection with such transfer. After the Closing Date, the Reorganizing Fund shall not conduct any business except in connection with its dissolution and termination.

1.5 OWNERSHIP OF SHARES. Ownership of Surviving Fund Shares will be shown on the books of the Surviving Fund’s transfer agent. Surviving Fund Shares will be issued simultaneously to the Reorganizing Fund, in an amount equal in value to the aggregate net asset value of the Reorganizing Fund Shares, to be distributed to Reorganizing Fund Shareholders.

1.6 TRANSFER TAXES. Any transfer taxes payable upon the issuance of Surviving Fund Shares in a name other than the registered holder of the Reorganizing Fund Shares on the books of the Reorganizing Fund as of that time shall, as a condition of such issuance and transfer, be paid by the person to whom such Surviving Fund Shares are to be issued and transferred.

1.7 REPORTING RESPONSIBILITY. Any reporting responsibility of the Reorganizing Fund is and shall remain the responsibility of the Reorganizing Fund.

1.8 TERMINATION. The Reorganizing Fund shall be dissolved and terminated promptly following the Closing Date and the making of all distributions pursuant to paragraph 1.4.

1.9 BOOKS AND RECORDS. All books and records of the Reorganizing Fund, including all books and records required to be maintained under the Investment Company Act of 1940, as amended (the “1940 Act”), and the rules and regulations thereunder, shall be available to the Surviving Fund from and after the Closing Date and shall be turned over to the Surviving Fund as soon as practicable following the Closing Date.

ARTICLE II

VALUATION

2.1 VALUATION OF ASSETS. The value of the Reorganizing Fund’s assets to be acquired by the Surviving Fund hereunder shall be the value of such assets at the closing on the Closing Date, after the declaration and payment of any dividends and/or other distributions on that date, using available market quotations (or an

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appropriate substitute that reflects current market conditions) in accordance with Rule 2a-7(c)(8)(ii)(A)(1) and in accordance with the valuation procedures established under such rule by the Board of Directors of the Surviving Fund Registrant or such other valuation procedures as shall be mutually agreed upon by the parties (and approved by the respective Boards of Trustees (“Board”) of the Surviving Fund Registrant and Reorganizing Fund Registrant).

2.2 VALUATION OF SHARES. The net asset value per share of Class A Shares of Surviving Fund shall be the net asset value per share of Class A Shares Surviving Fund computed at the closing on the Closing Date, using the Amortized Cost Method as defined in Rule 2a-7(a)(2) in accordance with the valuation procedures established under such rule by the Board of the Surviving Fund or such other valuation procedures as shall be mutually agreed upon by the parties (and approved by their respective Boards).

2.3 SHARES TO BE ISSUED. The number of Class A Shares of Surviving Fund Shares to be issued (including fractional shares, if any) in exchange for the Reorganizing Fund’s assets to be acquired by the Surviving Fund pursuant to this Agreement shall be determined in accordance with paragraph 1.1.

2.4 DETERMINATION OF VALUE. All computations of value shall be made by State Street Bank and Trust Company, on behalf of the Surviving Fund and the Reorganizing Fund.

ARTICLE III

CLOSING AND CLOSING DATE

3.1 CLOSING DATE. The closing shall occur on or about Friday, December 27, 2013, or such other date(s) as the parties may agree to in writing (the “Closing Date”). All acts taking place at the closing shall be deemed to take place at 4:00 p.m. Eastern Time on the Closing Date unless otherwise provided herein. The closing shall be held at the offices of Davis Selected Advisers, L.P. 3601 E. Britannia, Tucson Arizona 85756, or at such other time and/or place as the parties may agree.

3.2 CUSTODIAN’S CERTIFICATE. State Street Bank, as custodian for the Reorganizing Fund (the “Custodian”), shall deliver at the closing a certificate of an authorized officer stating that: (a) the Reorganizing Fund’s portfolio securities, cash, and any other assets have been delivered in proper form sufficient to transfer good and marketable title to the Surviving Fund on the Closing Date; and (b) all necessary taxes including all applicable federal and state stock transfer stamps, if any, shall have been paid, or provision for payment shall have been made, in conjunction with the delivery of portfolio securities by the Reorganizing Fund.

3.3 EFFECT OF SUSPENSION IN TRADING. In the event that on the scheduled Closing Date, either: (a) the primary market in which the portfolio securities of the Surviving Fund or the Reorganizing Fund are purchased or sold, shall be closed to trading or trading shall be restricted; or (b) trading or the reporting of trading in the primary market shall be disrupted so that accurate appraisal of the value of the net assets of the Surviving Fund or the Reorganizing Fund is impracticable, the Closing Date shall be postponed until the first Friday that is a business day after the day when trading is fully resumed and reporting is restored.

3.4 TRANSFER AGENT’S CERTIFICATE. Boston Financial Data Services, as transfer agent for the Reorganizing Fund as of the Closing Date, shall deliver at the closing a certificate of an authorized officer stating that its records contain the names and addresses of Reorganizing Fund Shareholders, and the number and percentage ownership of outstanding shares owned by each such shareholder immediately prior to the closing. The Surviving Fund shall issue and deliver, or cause Boston Financial Data Services, its transfer agent, to issue and deliver, a confirmation evidencing Surviving Fund Shares to be credited on the Closing Date to the Secretary of the Reorganizing Fund Registrant or provide evidence satisfactory to the Reorganizing Fund that the Surviving Fund Shares have been credited to the Reorganizing Fund’s account on the books of the Surviving Fund. At the closing, each party shall deliver to the other such bills of sale, assignments, checks, certificates, opinions, receipts and other instruments or documents, if any, as such other party or its counsel may reasonably request.

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ARTICLE IV

REPRESENTATIONS AND WARRANTIES

4.1 REPRESENTATIONS OF THE REORGANIZING FUND. The Reorganizing Fund Registrant, on behalf of the Reorganizing Fund, represents and warrants to the Surviving Fund Registrant, on behalf of the Surviving Fund, as follows:

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5

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4.2 REPRESENTATIONS OF THE SURVIVING FUND. The Surviving Fund Registrant, on behalf of the Surviving Fund, represents and warrants to the Reorganizing Fund Registrant, on behalf of the Reorganizing Fund, as follows:

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ARTICLE V

COVENANTS OF THE SURVIVING FUND AND THE REORGANIZING FUND

5.1 OPERATION IN ORDINARY COURSE. The Surviving Fund and the Reorganizing Fund will each operate its respective business in the ordinary course between the date of this Agreement and the Closing Date, it being understood that such ordinary course of business will include customary dividends and shareholder purchases and redemptions.

5.2 APPROVAL OF SHAREHOLDERS. The Reorganizing Fund Registrant will call a special meeting of the Reorganizing Fund Shareholders to consider and act upon this Agreement and to take all other appropriate action necessary to obtain approval of the transactions contemplated herein.

5.3 INVESTMENT REPRESENTATION. The Reorganizing Fund covenants that the Surviving Fund Shares to be issued pursuant to this Agreement are not being acquired for the purpose of making any distribution, other than in connection with the Reorganization and in accordance with the terms of this Agreement.

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5.4 ADDITIONAL INFORMATION. The Reorganizing Fund will assist the Surviving Fund in obtaining such information as the Surviving Fund reasonably requests concerning the beneficial ownership of the Reorganizing Fund’s shares.

5.5 FURTHER ACTION. Subject to the provisions of this Agreement, the Surviving Fund and the Reorganizing Fund will each take or cause to be taken, all action, and do or cause to be done, all things reasonably necessary, proper or advisable to consummate and make effective the transactions contemplated by this Agreement, including any actions required to be taken after the Closing Date.

5.6 STATEMENT OF EARNINGS AND PROFITS. As promptly as practicable, but in any case within sixty days after the Closing Date, the Reorganizing Fund shall furnish the Surviving Fund, in such form as is reasonably satisfactory to the Surviving Fund, a statement of the earnings and profits of the Reorganizing Fund for federal income tax purposes, and which will be certified by the Reorganizing Fund Registrant’s Treasurer.

5.7 PREPARATION OF REGISTRATION STATEMENT AND SCHEDULE 14A PROXY STATEMENT. The Surviving Fund Registrant will prepare and file with the Commission a registration statement on Form N-14 relating to the Surviving Fund Shares to be issued to shareholders of the Reorganizing Fund (the “Registration Statement”). The Registration Statement on Form N-14 shall include a proxy statement and a prospectus of the Surviving Fund relating to the transaction contemplated by this Agreement. The Registration Statement shall be in compliance with the 1933 Act, the 1934 Act and the 1940 Act, as applicable. Each party will provide the other party with the materials and information necessary to prepare the registration statement on Form N-14 (the “Proxy Materials”), for inclusion therein, in connection with the meeting of the Reorganizing Fund’s Shareholders to consider the approval of this Agreement and the transactions contemplated herein.

5.8 PRE-CLOSING DIVIDEND. On or before the Closing Date, the Reorganizing Fund shall have declared and paid to its shareholders of record a dividend or dividends which, together with all previous such dividends, shall have the effect of distributing all of the Reorganizing Fund’s investment company taxable income (computed without regard to any deduction for dividends paid), if any, plus the excess, if any, of its interest income excludible from gross income under Section 103(a) of the Code over its deductions disallowed under Sections 265 and 171(a)(2) of the Code for all taxable periods or years ending on or before the Closing Date, and all of its net capital gains realized (after reduction for any capital loss carry forward), if any, in all taxable periods or years ending on or before the Closing Date.

ARTICLE VI

CONDITIONS PRECEDENT TO OBLIGATIONS OF THE REORGANIZING FUND

The obligations of the Reorganizing Fund to consummate the transactions provided for herein shall be subject, at its election, to the performance by the Surviving Fund of all the obligations to be performed by the Surviving Fund pursuant to this Agreement on or before the Closing Date, and, in addition, subject to the following conditions:

All representations, covenants, and warranties of the Surviving Fund contained in this Agreement shall be true and correct in all material respects as of the date hereof and as of the Closing Date, with the same force and effect as if made on and as of the Closing Date. The Surviving Fund shall have delivered to the Reorganizing Fund a certificate executed in the Surviving Fund’s name by the Surviving Fund Registrant’s President or Vice President and its Treasurer or Assistant Treasurer, in form and substance satisfactory to the Reorganizing Fund and dated as of the Closing Date, to such effect and as to such other matters as the Reorganizing Fund shall reasonably request.

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ARTICLE VII

CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SURVIVING FUND

The obligations of the Surviving Fund to consummate the transactions provided for herein shall be subject, at its election, to the performance by the Reorganizing Fund of all the obligations to be performed by the Reorganizing Fund pursuant to this Agreement, on or before the Closing Date and, in addition, shall be subject to the following conditions:

All representations, covenants, and warranties of the Reorganizing Fund contained in this Agreement shall be true and correct in all material respects as of the date hereof and as of the Closing Date, with the same force and effect as if made on and as of such Closing Date. The Reorganizing Fund shall have delivered to the Surviving Fund on such Closing Date a certificate executed in the Reorganizing Fund’s name by the Reorganizing Fund Registrant’s President or Vice President and the Treasurer or Assistant Treasurer, in form and substance satisfactory to the Surviving Fund and dated as of such Closing Date, to such effect and as to such other matters as the Surviving Fund shall reasonably request.

The Reorganizing Fund shall have delivered to the Surviving Fund a statement of the Reorganizing Fund’s assets and liabilities, together with a list of the Reorganizing Fund’s portfolio securities showing the tax costs of such securities by lot and the holding periods of such securities, as of the Closing Date, certified by the Treasurer of the Reorganizing Fund Registrant.

ARTICLE VIII

FURTHER CONDITIONS PRECEDENT TO OBLIGATIONS OF THE SURVIVING FUND AND

REORGANIZING FUND

If any of the conditions set forth below do not exist on or before the Closing Date with respect to the Reorganizing Fund or the Surviving Fund, the other party to this Agreement shall, at its option, not be required to consummate the transactions contemplated by this Agreement:

8.1 This Agreement and the transactions contemplated herein, with respect to the Reorganizing Fund, shall have been approved by the requisite vote of the holders of the outstanding shares of the Reorganizing Fund in accordance with applicable law and the provisions of the Reorganizing Fund Registrant’s Declaration of Trust (or Trust Instrument) and By-Laws. Certified copies of the resolutions evidencing such approval shall have been delivered to the Surviving Fund. Notwithstanding anything herein to the contrary, neither the Surviving Fund nor the Reorganizing Fund may waive the conditions set forth in this paragraph 8.1.

8.2 On the Closing Date, the Commission shall not have issued an unfavorable report under Section 25(b) of the 1940 Act, or instituted any proceeding seeking to enjoin the consummation of the transactions contemplated by this Agreement under Section 25(c) of the 1940 Act. Furthermore, no action, suit or other proceeding shall be threatened or pending before any court or governmental agency in which it is sought to restrain or prohibit, or obtain damages or other relief in connection with this Agreement or the transactions contemplated herein.

8.3 All required consents of other parties and all other consents, orders, and permits of federal, state and local regulatory authorities (including those of the Commission and of State securities authorities, including any necessary “no-action” positions and exemptive orders from such federal and state authorities) to permit consummation of the transactions contemplated herein shall have been obtained, except where failure to obtain any such consent, order, or permit would not involve a risk of a material adverse effect on the assets or properties of the Surviving Fund or the Reorganizing Fund, provided that either party hereto may waive any such conditions for itself.

8.4 The Registration Statement shall have become effective under the 1933 Act, and no stop orders suspending

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the effectiveness thereof shall have been issued. To the best knowledge of the parties to this Agreement, no investigation or proceeding relating to the Registration Statement shall have been instituted or be pending, threatened or contemplated under the 1933 Act.

ARTICLE IX

EXPENSES

The Reorganizing Fund will bear all expenses associated with the Reorganization. The Surviving Fund will not bear any expenses associated with their participation in the Reorganization, except the Surviving Fund shall bear expenses associated with the qualification of Surviving Fund Shares for sale in the various states. To the extent that any transfer of portfolio securities is required in connection with the Reorganization, the Reorganizing Fund may incur transaction expenses associated with the sale and purchase of portfolio securities. The Surviving Fund also may incur transaction expenses associated with disposing of certain securities, and acquiring replacement securities, after the Reorganization is consummated in the ordinary course.

ARTICLE X

ENTIRE AGREEMENT; SURVIVAL OF WARRANTIES

10.1 The Surviving Fund Registrant, on behalf of the Surviving Fund, and the Reorganizing Fund Registrant, on behalf of the Reorganizing Fund, agree that neither party has made to the other party any representation, warranty and/or covenant not set forth herein, and that this Agreement constitutes the entire agreement between the parties.

10.2 Except as specified in the next sentence set forth in this paragraph 10.2, the representations, warranties, and covenants contained in this Agreement or in any document delivered pursuant to or in connection with this Agreement, shall not survive the consummation of the transactions contemplated hereunder. The covenants to be performed after the Closing Date shall continue in effect beyond the consummation of the transactions contemplated hereunder.

ARTICLE XI

TERMINATION

This Agreement may be terminated by the mutual agreement of the Surviving Fund Registrant and the Reorganizing Fund Registrant. In addition, either the Surviving Fund Registrant or the Reorganizing Fund Registrant may at its option terminate this Agreement at or before the Closing Date due to:

In the event of any such termination, in the absence of willful default, there shall be no liability for damages on the part of any of the Surviving Fund, the Surviving Fund Registrant, the Reorganizing Fund, the Reorganizing Fund Registrant, or their respective Trustees or their respective officers.

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ARTICLE XII

AMENDMENTS

This Agreement may be amended, modified, or supplemented in such manner as may be mutually agreed upon in writing by the officers of the Reorganizing Fund Registrant, on behalf of the Reorganizing Fund, and the Surviving Fund Registrant, on behalf of the Surviving Fund, and as specifically authorized by their respective Boards; provided, however, that following the meeting of the Reorganizing Fund Shareholders called by the Reorganizing Fund pursuant to paragraph 5.2 of this Agreement, no such amendment may have the effect of changing the provisions for determining the number of Surviving Fund Shares to be issued to the Reorganizing Fund Shareholders under this Agreement to the detriment of such shareholders without their further approval.

ARTICLE XIII

HEADINGS; COUNTERPARTS; GOVERNING LAW; ASSIGNMENT;

LIMITATION OF LIABILITY

The Article and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

This Agreement may be executed in any number of counterparts, each of which shall be deemed an original.

This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

This Agreement shall bind and inure to the benefit of the parties hereto and their respective successors and assigns, but, except as provided in this paragraph, no assignment or transfer hereof or of any rights or obligations hereunder shall be made by any party without the written consent of the other party. Nothing herein expressed or implied is intended or shall be construed to confer upon or give any person, firm, or corporation, trust, or entities other than the parties hereto and their respective successors and assigns, any rights or remedies under or by reason of this Agreement.

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IN WITNESS WHEREOF, the parties have duly executed this Agreement, all as of the date first written above.

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Appendix B

COMPARISON OF FUNDAMENTAL INVESTMENT POLICIES

Investment Strategies Davis Government Money Market Fund (“DGMMF”) an authorized series of Davis Series, Inc. and Selected Daily Government Fund (“SDGF”) an authorized series of Selected Capital Preservation Trust invest exclusively in U.S. Treasury securities, U.S. Government agency securities, U.S. Government agency mortgage securities (collectively “U.S. Government Securities”), and repurchase agreements collateralized by U.S. Government Securities. Both Funds seek to maintain liquidity and preserve capital by carefully monitoring the maturity of its investments. The Funds’ portfolios maintain a dollar-weighted average maturity of sixty days or less and seek to maintain a net asset value of $1.00 per share.

Fundamental Policies Following is a comparison of the fundamental policies of DGMMF and SDGF. The fundamental investment restrictions set forth below may not be changed without the approval of the lesser of: (A) 67% or more of the voting securities present at such meeting, if the holders of more than 50% of the outstanding voting securities of such company are present or represented by proxy; or (B) more than 50% of the outstanding voting securities of such company.

Except for the fundamental investment policies regarding illiquid securities and borrowing, all percentage restrictions apply as of the time of an investment without regard to any later fluctuations in the value of portfolio securities or other assets. All references to the assets of a Fund are in terms of current market value.

The following Fundamental Policies for DGMMF and SDGF are materially the same:

(1) Diversification. The Fund may not make any investment that is inconsistent with its classification as a diversified investment company under the 1940 Act.

Further Explanation of Diversification Policy. To remain classified as a diversified investment company under the 1940 Act, the Fund must conform with the following: With respect to 75% of its total assets, a diversified investment company may not invest more than 5% of its total assets, determined at market or other fair value at the time of purchase, in the securities of any one issuer, or invest in more than 10% of the outstanding voting securities of any one issuer, determined at the time of purchase. These limitations do not apply to investments in securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities.

(2) Concentration. The Fund may not concentrate its investments in the securities of issuers primarily engaged in any particular industry.

Further Explanation of Concentration Policy. The Fund may not invest 25% or more of its total assets, taken at market value, in the securities of issuers primarily engaged in any particular industry (other than securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities).

(3) Issuing Senior Securities. The Fund may not issue senior securities, except as permitted under applicable law, including the 1940 Act and published SEC staff positions.

Further Explanation of Issuing Senior Securities. The Fund may not issue senior securities, except as provided by the 1940 Act and any rules, regulations, orders or letters issued there under. This limitation does not apply to selling short against the box. The 1940 Act defines a “Senior Security” as any bond, debenture, note or similar obligation constituting a security and evidencing indebtedness.

(4) Borrowing. The Fund may not borrow money, except to the extent permitted by applicable law, including the 1940 Act and published SEC staff positions.

Further Explanation of Borrowing Policy. The Fund may borrow from banks provided that, immediately thereafter the Fund has 300% asset coverage for all borrowings. The Fund may purchase additional securities so long as borrowings do not exceed 5% of its total assets. The Fund may obtain such short-term credit as may be necessary for the clearance of purchases and sales of portfolio securities. In the event that market fluctuations cause borrowing to exceed the limits stated above, the Adviser would act to remedy the situation as promptly as possible, normally within three business days, although it is not required to dispose of portfolio holdings immediately if the Fund would suffer losses as a result.

(5) Underwriting. The Fund may not underwrite securities of other issuers except to the extent permitted by applicable law, including the 1940 Act and published SEC staff positions.

Further Explanation of Underwriting Policy. The Fund may not underwrite securities of other issuers, except insofar as the Fund may be deemed to be an underwriter in connection with the disposition of its portfolio securities.

(6)Investments in Commodities and Real Estate. The Fund may not purchase or sell commodities or real estate, except to the extent permitted by applicable law, including the 1940 Act and published SEC staff positions.

Further Explanation of Policy Restricting Investments in Commodities and Real Estate. The Fund may purchase or sell financial futures contracts, options on financial futures contracts, currency contracts and options on currency contracts as described in its prospectus and Statement of Additional Information. The Fund may not purchase or sell real estate, except that the Fund may invest in securities that are directly or indirectly secured by real estate or issued by issuers that invest in real estate.

(7) Making Loans. The Fund may not make loans to other persons, except as allowed by applicable law, including the 1940 Act and published SEC staff positions.

Further Explanation of Lending Policy. The acquisition of investment securities or other investment instruments, entering into repurchase agreements, leaving cash on deposit with the Fund’s custodian, and similar actions are not deemed to be the making of a loan.

To generate income and offset expenses, the Fund may lend portfolio securities to broker-dealers and other financial institutions that the Adviser believes to be creditworthy in an amount up to 33 1/3% of its total assets, taken at market value. While securities are on loan, the borrower will pay the Fund any income accruing on the security. The Fund may invest any collateral it receives in additional portfolio securities, typically U.S. Treasury notes, certificates of deposit, other high-grade, short-term obligations or interest-bearing cash equivalents. The Fund is still subject to gains or losses due to changes in the market value of securities that it has lent.

When the Fund lends its securities, it will require the borrower to give the Fund collateral in cash or U.S. Government securities. The Fund will require collateral in an amount equal to at least 100% of the current market value of the securities lent, including accrued interest. The Fund has the right to call a loan and obtain the securities lent any time on notice of not more than five business days. The Fund may pay reasonable fees in connection with such loans.

SDGF has adopted the following Fundamental Policy which DGMMF does not have:

(8) Investment Objectives. Selected Daily Government Fund’s investment objective is to provide as high a level of current income as possible from the type of short-term investments in which it invests, consistent with prudent investment management, stability of principal and maintenance of liquidity.

Non-Fundamental Policies Following is a comparison of the non-fundamental policies of DGMMF and SDGF. Non-fundamental policies may be changed by the Funds’ Board of Directors/Trustees without the approval of the Funds’ shareholders.

The following Non-Fundamental Policies for DGMMF and SDGF are materially the same:

The Fund will provide the Fund’s shareholders with at least 60 days’ prior notice before changing its Name Policies such that they would invest, under normal circumstances, less than 80% of their net assets plus any borrowing for investment purposes in U.S. Government securities and repurchase agreements collateralized with U.S. Government securities.

Appendix C

Comparison of Maryland Corporations and Ohio Business Trust

Maryland Corporations

A fund, such as DGMMF, organized as a series of Davis Series, Inc., a Maryland corporation, is governed both by the Maryland General Corporation Law (the “MGCL”) and the corporation’s Articles of Incorporation and Bylaws (together the “Charter Documents). Some of the key provisions of the MGCL and Davis Series’ Charter Documents are summarized below.

Shareholder Meetings; Election and Removal of Directors

Maryland law does not require a corporation registered as an open-end investment company to hold annual meetings in any year that the election of directors is not required under the 1940 Act. Shareholders of a Maryland corporation generally are entitled to elect and remove directors. Likewise DGMMF’s Charter Documents do not require an annual meeting of shareholders, but the Board of Directors may call special meetings of shareholders for action by shareholder vote as may be required by the 1940 Act. DGMMF’s Board of Directors is required to call a special meeting of shareholders if so requested in writing by the holders of record of 25% or more of the outstanding shares entitled to vote.

All Portfolios of Davis Series will vote with respect to certain matters, such as election of Directors. The voting rights of shareholders are not cumulative, so that holders of more than 50% of the shares voting can, if they choose, elect all Directors being elected, while the holders of the remaining shares would be unable to elect any Directors. The Directors serve for an indefinite period of time until the next annual meeting of shareholders and have the power to alter the number of Directors, and appoint their own successors, provided that at all times at least two-thirds of the Directors have been elected by shareholders. However, a Director may be removed by the action of the shareholders of record of a majority or more of the outstanding shares.

Liability and Indemnification of Directors

With respect to directors, the MGCL provides that a director who has met his or her standard of conduct has no liability by reason of being or having been a director. DGMMF’s Charter Documents provide that, to the maximum extent permitted by Maryland law, DGMMF will indemnify the Directors and the Directors will not be liable to the Davis Series, Inc., DGMMF, or its shareholders for money damages.

The MGCL permits a Maryland corporation to include in its charter a provision limiting the liability of its directors and officers to the corporation and its shareholders for money damages except for liability resulting from (a) actual receipt of an improper benefit or profit in money, property or services or (b) active and deliberate dishonesty established by a final judgment as being material to the cause of action. The MGCL requires a corporation (unless its charter provides otherwise, which DGMMF’s Articles and Bylaws does not) to indemnify a director or officer who has been successful in the defense of any proceeding to which he or she is made a party by reason of his or her service in that capacity. The MGCL permits a corporation to indemnify its present and former

directors and officers, among others, against judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to which they may be made a party by reason of their service in those or other capacities unless it is established that, (a) the act or omission of the director or officer was material to the matter giving rise to the proceeding and (i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty, (b) the director or officer actually received an improper personal benefit in money, property or services, or (c) in the case of any criminal proceeding, the director had reasonable cause to believe that the act or omission was unlawful. However, under Maryland law, a Maryland corporation may not indemnify for an adverse judgment in a suit by or in the right of the corporation or for a judgment of liability on the basis that a personal benefit was improperly received, unless in either case a court orders indemnification and then only for expenses. In addition, Maryland law permits a corporation to advance reasonable expenses to a director upon the corporation’s receipt of (a) a written affirmation by the director of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification by the corporation and (b) a written undertaking by him or her or on his or her behalf to repay the amount paid or reimbursed by the corporation if it is ultimately determined that the standard of conduct was not met.

Nothing in the Charter or Bylaws protects a Director against any liability to Davis Series, Inc., DGMMF, or their respective shareholders to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office.

Shareholder Liability

Under Maryland law, shareholders of a corporation generally are not personally liable for debts or obligations of a corporation. Accordingly, Davis Series’ Charter Documents contain no explicit provision for shareholder indemnification.

Ohio Business Trust

A fund, such as SDGF, organized as a series of an Ohio Business Trust, is governed by the Declaration of Trust, By-Laws and applicable state law. Some of the key provisions of the state law and the Declaration of Trust are summarized below.

Shareholder Meetings; Election and Removal of Directors

Neither Ohio law nor the Trust documents require SDGF to hold annual meetings. The Declaration of Trust provides shareholders the ability to elect and remove directors. While the Declaration of Trust does not require an annual meeting of shareholders a majority of the Trustees or shareholders holding in the aggregate more than 10% of outstanding shares having voting rights with the matters to be brought before the meeting may call a Special Meeting.

Shareholders of SDGF have the power to vote for the election of one or more Trustees in order to comply with the provisions of the 1940 Act (including Section 16(a) thereof). The Trustees serve for an indefinite period of time.

Shareholders of the Trust do not have cumulative voting in the election of any Trustee or Trustees. Shares of SDGF may be voted in person or by proxy.

Liability and Indemnification of Trustees

Former and present Trustees of SDGF are indemnified by the Selected Capital Preservation Trust to the fullest extent permitted under the Ohio law. The Declaration of Trust provides that so long as a Trustee has acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests of SDGF or the Trust, no Trustee shall be subject to any personal liability whatsoever to the Trust, its Shareholders or to any Trustee, officer, employee or agent thereof for any action or failure to act or to any other Person in connection with Trust Property or the affairs of the Trust.

Nothing in Declaration of Trust or the Bylaws protects a Trustee against any liability due to their own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties owed to the Trust or to any Shareholder, Trustee, officer, employee or agent thereof to any such person.

Shareholder Liability

SDGF shareholders are not personally liable for any obligation or liability of Selected Capital Preservation Trust. The Trust shall indemnify and hold each shareholder harmless from and against all claims and liabilities that a shareholder may become subject to by reason of his/her being a shareholder. If any shareholder or former shareholder is charged or held to be personally liable for any obligation or liability of SDGF or the Trust solely by reason of being or having been a shareholder and not because of such shareholder’s acts or omissions or for some other reason, the Trust shall assume the defense against such charge and satisfy any judgment thereon, and the shareholder or former shareholder (or his/her heirs, executors, administrators or other legal representatives or in the case of a corporation or other entity, its corporate or other general successor) shall be entitled to be held harmless from and indemnified against all loss and expense arising from such liability.

The foregoing is only a summary of certain rights of shareholders under the organizational documents governing each Portfolio and under applicable state law, and is not a complete description of provisions contained in those sources. Shareholders should refer to the provisions of those documents and state law directly for a more thorough description.

PART B

STATEMENT OF ADDITIONAL INFORMATION

RELATING TO THE ACQUISITION OF ASSETS OF

SELECTED DAILY GOVERNMENT FUND

An authorized series of Selected Capital Preservation Trust

BY AND IN EXCHANGE FOR SHARES OF

DAVIS GOVERNMENT MONEY MARKET FUND

An authorized series of Davis Series, Inc.

2949 E. Elvira Rd., Suite 101

Tucson, AZ 85756

800/279-2279

This Statement of Additional Information, relating specifically to the proposed acquisition of all of the assets of Selected Daily Government Fund (“SDGF”) by Davis Government Money Market Fund (“DGMMF” and jointly as the “Funds”), consists of this cover page, pro forma financial statements and the following described documents, each of which is incorporated by reference herein:

The Statement of Additional Information of DGMMF dated May 1, 2013, as supplemented to date;

The Statement of Additional Information of SDGF dated May 1, 2013, as supplemented to date; and

The Annual Report of DGMMF and SDGF for the year ended December 31, 2012, and the Semi-Annual Report of DGMMF and SDGF for the six months ended June 30, 2013.

This Statement of Additional Information is not a prospectus. A Proxy Statement/Prospectus dated November 12, 2013, relating to the above-referenced transaction has been filed with the Securities and Exchange Commission and may be obtained, without charge, by writing to SDGF or DGMMF at 2949 E. Elvira Rd., Suite 101, Tucson, AZ 85756 or by calling DGMMF at 800-279-0279 or SDGF at 800-243-1575. This Statement of Additional Information relates to, and should be read in conjunction with, the Proxy Statement/Prospectus, and has been incorporated by reference into the Proxy Statement/Prospectus.

Shown below are pro forma financial statements for the Trust at December 31, 2012, as though the proposed reorganization occurred as of that date.

(Unaudited)