Teacher education programs have the responsibility of preparing future educators to teach in ways that support student learning and foster deep understanding of subject matter. For this reason, it is important teacher education programs support preservice teachers' development of subject-matter knowledge and pedagogical content knowledge. One of the most valued and potentially powerful settings for developing these understandings and practices is the field-based practicum in which lessons are observed and debriefed with a knowledgeable other. Although university supervisors may be ideally positioned to provide subject-matter feedback during post-observation conferences, supervision is complex and many factors can potentially influence this type of feedback and the development of subject-matter knowledge and pedagogical content knowledge. Yet, studies examining the nature of post-observation conferences at the elementary level are limited. This study examined post-observation conferences to look closely at the complexities and influences through the question: What factors influence if, and to what extent, university supervisors bring subject-matter knowledge to bear when providing feedback to preservice teachers during post-observation conferences? I examined this question through a qualitative multiple-case study, comprised of two cases, with each case consisting of one university supervisor and one preservice teacher. The findings suggest that three factors influenced the nature of the feedback the supervisors provided: (1) the observation protocol, (2) the supervisors' approaches to supervision, and (3) the supervisors' experiences and interests. The factors interacted in ways that prioritized social justice and equity discussions while, at the same time, minimized subject-matter feedback. Because both social justice and subject-matter knowledge are imperative in preservice teacher education, I conclude that teacher education programs must work toward ways to help supervisors and preservice teachers integrate these two priorities during instruction. Recommendations include revising university-based observation protocols, providing professional development opportunities for university supervisors, and engaging in ongoing review and evaluation of progress toward integration. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]