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Sub-Advisor Commentaries

Sub-Advisor Masters' Fund(s) Date

Davis Advisors Equity/Focused Opportunities First Quarter, 2009
Masters' Select Equity & Focused Opportunities Funds' sub-advisor Davis Advisors discuss their portfolio positioning in the current volatile market, revisit their principles of value investing and provide analysis of a few select Masters' stocks. Click here to read.

Sands Capital Management Equity/Focused Opportunities Fourth Quarter, 2008
Masters' Select Equity and Focused Opportunities' Funds' sub-advisor Sands Capital Management comments on the current market environment and discusses some of their current Masters' Select holdings. Click here to read.

Friess Associates Equity/Smaller Companies Fourth Quarter, 2008
Masters' Select Equity and Smaller Companies Funds' sub-advisor Bill D'Alonzo of Friess Associates assesses the current market environment and outlook for the future as well as discussing a couple of their Masters' Select holdings. Click here to read.



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