Regulatory Documents

Clipper Fund

Document
Summary Prospectus
Statutory Prospectus
Statement of Additional Information
N-Port 1Q
N-Port 3Q
Proxy

Document
Annual Report

Document
Semi-Annual Report

Document
Proxy Voting Policies and Procedures

The SAI, the Fund’s annual and semi-annual reports to shareholders, and other information such as Fund financial statements are available, without charge, upon request.

Before investing in the Clipper Fund, you should carefully consider the investment objectives, risks, charges, and expenses of the Fund. The prospectus and summary prospectus contains this and other information about the Funds. You can obtain performance information and a current prospectus and summary prospectus by visiting clipperfund.com or calling 800.432.2504. Please read the prospectus or summary prospectus carefully before investing or sending money. Investing involves risks including possible loss of principal.

Shares of the Clipper Fund are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.

Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756