<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Broadridge Transform (tm) - http://www.broadridge.com -->
<!-- Created: Wed Apr 29 19:40:46 UTC 2026 -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <loc xlink:type="locator" xlink:label="slasx_doc_Selected_American_SharesMember" xlink:href="slasx-20251231.xsd#slasx_doc_Selected_American_SharesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_doc_Selected_American_SharesMember_lbl" xml:lang="en-US">Selected American Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_doc_Selected_American_SharesMember" xlink:to="slasx_doc_Selected_American_SharesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_S000003448Member" xlink:href="slasx-20251231.xsd#slasx_S000003448Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_S000003448Member_lbl" xml:lang="en-US">Selected American Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_S000003448Member" xlink:to="slasx_S000003448Member_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_C000009551Member" xlink:href="slasx-20251231.xsd#slasx_C000009551Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_C000009551Member_lbl" xml:lang="en-US">Class S</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_C000009551Member" xlink:to="slasx_C000009551Member_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_C000009552Member" xlink:href="slasx-20251231.xsd#slasx_C000009552Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_C000009552Member_lbl" xml:lang="en-US">Class D</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_C000009552Member" xlink:to="slasx_C000009552Member_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_StockMarketRiskMember" xlink:href="slasx-20251231.xsd#slasx_StockMarketRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_StockMarketRiskMember_lbl" xml:lang="en-US">Stock Market Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_StockMarketRiskMember" xlink:to="slasx_StockMarketRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_CommonStockRiskMember" xlink:href="slasx-20251231.xsd#slasx_CommonStockRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_CommonStockRiskMember_lbl" xml:lang="en-US">Common Stock Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_CommonStockRiskMember" xlink:to="slasx_CommonStockRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_FinancialServicesRiskMember" xlink:href="slasx-20251231.xsd#slasx_FinancialServicesRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_FinancialServicesRiskMember_lbl" xml:lang="en-US">Financial Services Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_FinancialServicesRiskMember" xlink:to="slasx_FinancialServicesRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_ForeignCountryRiskMember" xlink:href="slasx-20251231.xsd#slasx_ForeignCountryRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_ForeignCountryRiskMember_lbl" xml:lang="en-US">Foreign Country Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_ForeignCountryRiskMember" xlink:to="slasx_ForeignCountryRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_HeadlineRiskMember" xlink:href="slasx-20251231.xsd#slasx_HeadlineRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_HeadlineRiskMember_lbl" xml:lang="en-US">Headline Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_HeadlineRiskMember" xlink:to="slasx_HeadlineRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_LargeCapitalizationCompaniesRiskMember" xlink:href="slasx-20251231.xsd#slasx_LargeCapitalizationCompaniesRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_LargeCapitalizationCompaniesRiskMember_lbl" xml:lang="en-US">Large Capitalization Companies Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_LargeCapitalizationCompaniesRiskMember" xlink:to="slasx_LargeCapitalizationCompaniesRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_ManagerRiskMember" xlink:href="slasx-20251231.xsd#slasx_ManagerRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_ManagerRiskMember_lbl" xml:lang="en-US">Manager Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_ManagerRiskMember" xlink:to="slasx_ManagerRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_DepositaryReceiptsRiskMember" xlink:href="slasx-20251231.xsd#slasx_DepositaryReceiptsRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_DepositaryReceiptsRiskMember_lbl" xml:lang="en-US">Depositary Receipts Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_DepositaryReceiptsRiskMember" xlink:to="slasx_DepositaryReceiptsRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_EmergingMarketRiskMember" xlink:href="slasx-20251231.xsd#slasx_EmergingMarketRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_EmergingMarketRiskMember_lbl" xml:lang="en-US">Emerging Market Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_EmergingMarketRiskMember" xlink:to="slasx_EmergingMarketRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_FeesAndExpensesRiskMember" xlink:href="slasx-20251231.xsd#slasx_FeesAndExpensesRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_FeesAndExpensesRiskMember_lbl" xml:lang="en-US">Fees And Expenses Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_FeesAndExpensesRiskMember" xlink:to="slasx_FeesAndExpensesRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_ForeignCurrencyRiskMember" xlink:href="slasx-20251231.xsd#slasx_ForeignCurrencyRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_ForeignCurrencyRiskMember_lbl" xml:lang="en-US">Foreign Currency Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_ForeignCurrencyRiskMember" xlink:to="slasx_ForeignCurrencyRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_MidAndSmallCapitalizationCompaniesRiskMember" xlink:href="slasx-20251231.xsd#slasx_MidAndSmallCapitalizationCompaniesRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_MidAndSmallCapitalizationCompaniesRiskMember_lbl" xml:lang="en-US">Mid And Small Capitalization Companies Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_MidAndSmallCapitalizationCompaniesRiskMember" xlink:to="slasx_MidAndSmallCapitalizationCompaniesRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember" xlink:href="slasx-20251231.xsd#slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember_lbl" xml:lang="en-US">S&amp;P 500 Index reflects no deduction for fees, expenses or taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember" xlink:to="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_ManagerRiskMember_lbl0" xml:lang="en-US">Manager Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_ManagerRiskMember" xlink:to="slasx_ManagerRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_EmergingMarketRiskMember_lbl0" xml:lang="en-US">Emerging Market Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_EmergingMarketRiskMember" xlink:to="slasx_EmergingMarketRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_StockMarketRiskMember_lbl0" xml:lang="en-US">Stock Market Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_StockMarketRiskMember" xlink:to="slasx_StockMarketRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_ForeignCountryRiskMember_lbl0" xml:lang="en-US">Foreign Country Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_ForeignCountryRiskMember" xlink:to="slasx_ForeignCountryRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_S000003448Member_lbl0" xml:lang="en-US">S000003448 Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_S000003448Member" xlink:to="slasx_S000003448Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_doc_Selected_American_SharesMember_lbl0" xml:lang="en-US">doc_ Selected_ American_ Shares Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_doc_Selected_American_SharesMember" xlink:to="slasx_doc_Selected_American_SharesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_FinancialServicesRiskMember_lbl0" xml:lang="en-US">Financial Services Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_FinancialServicesRiskMember" xlink:to="slasx_FinancialServicesRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_ForeignCurrencyRiskMember_lbl0" xml:lang="en-US">Foreign Currency Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_ForeignCurrencyRiskMember" xlink:to="slasx_ForeignCurrencyRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_MidAndSmallCapitalizationCompaniesRiskMember_lbl0" xml:lang="en-US">Mid And Small Capitalization Companies Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_MidAndSmallCapitalizationCompaniesRiskMember" xlink:to="slasx_MidAndSmallCapitalizationCompaniesRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_C000009552Member_lbl0" xml:lang="en-US">C000009552 Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_C000009552Member" xlink:to="slasx_C000009552Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_DepositaryReceiptsRiskMember_lbl0" xml:lang="en-US">Depositary Receipts Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_DepositaryReceiptsRiskMember" xlink:to="slasx_DepositaryReceiptsRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember_lbl0" xml:lang="en-US">index_ SP_500_ Index_reflects_no_deduction_for_fees_expenses_or_taxes Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember" xlink:to="slasx_index_SP_500_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_C000009551Member_lbl0" xml:lang="en-US">C000009551 Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_C000009551Member" xlink:to="slasx_C000009551Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_LargeCapitalizationCompaniesRiskMember_lbl0" xml:lang="en-US">Large Capitalization Companies Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_LargeCapitalizationCompaniesRiskMember" xlink:to="slasx_LargeCapitalizationCompaniesRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_FeesAndExpensesRiskMember_lbl0" xml:lang="en-US">Fees And Expenses Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_FeesAndExpensesRiskMember" xlink:to="slasx_FeesAndExpensesRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_CommonStockRiskMember_lbl0" xml:lang="en-US">Common Stock Risk Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_CommonStockRiskMember" xlink:to="slasx_CommonStockRiskMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="slasx_HeadlineRiskMember_lbl0" xml:lang="en-US">Headline Risk Member</label>
<!-- [WMV7][fso8566bmlAxq1lxbO3WhRPW4/E/UJ5ZtO89f01lbS/wbRy8/kFI18mMEdZYWmms9WY620bcGQ97lVX2yotzfDI6l5VN/di0u5khvYetaJAE1W7udmeOZniPESdZ+kyauG2+JenYFf/u5Sd5t3nDppWG6EbS5ZTvipMDQOk7Gxvm1S7lmNUEiPGZy2TIfGiw88IJfWeiiO0tYMMIKN3woYwcb/kg2e/ezaOqKnSxCh4Cn5o+aW4rnDKuce8SrZRyqZFwNqD1gsx1/dF4U1jN4k+CxUmQFu2tfHP3xzSfymgd7L33oCcDKznX] CSR-->
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="slasx_HeadlineRiskMember" xlink:to="slasx_HeadlineRiskMember_lbl0"/>
  </labelLink>
</linkbase>