Mutual fund investing involves risks. Loss of principal is possible.

Bill Nygren is a portfolio manager for the Masters’ Select Value Fund and Bob Rodriguez is a portfolio manager for the Smaller Companies Fund. The information provided herein represents the opinions of Bill Nygren and/or Bob Rodriguez and are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

References to other mutual funds should not to be interpreted as an offer of these securities.

Masters’ Select Value Fund is a non-diversified fund, which means that it may concentrate more of its assets in fewer individual holdings than a diversified fund. Though primarily an equity fund, the fund may invest a portion of its assets in securities of distressed companies. Debt obligations of distressed companies typically are unrated, lower rated, in default or close to default and may become worthless. Though not an international fund, the fund may invest in foreign securities. Investing in foreign securities exposes investors to economic, political and market risks and fluctuations in foreign currencies. Though not a small-cap fund, the fund may invest in the securities of small companies. Small-company investing subjects investors to additional risks, including security price volatility and less liquidity than investing in larger companies.

Though not an international fund, the Masters’ Select Smaller Companies Fund may invest in foreign securities. Investing in small companies subjects investors to additional risks, including security price volatility and less liquidity than investing in larger companies. Investing in foreign securities exposes investors to economic, political and market risks and fluctuations in foreign currencies.

To view the Masters’ Select Value Fund most recent portfolio holdings, please click here. To view the Masters’ Select Smaller Companies Fund most recent portfolio holdings, please click here. Fund holdings and sector allocations are subject to change at any time and are not recommendations to buy or sell any security.

For industry terms and definitions, click here.

The Masters' Select Funds are distributed by Quasar Distributors, LLC.