TETON Westwood Balanced Fund

Schedule of Investments — December 31, 2019 (Unaudited)

Shares			Market Value
		COMMON STOCKS — 61.7%
		Aerospace — 3.8%
	3,745	L3Harris Technologies Inc.	$	741,023
	2,287	Northrop Grumman Corp.		786,659
	2,142	The Boeing Co.		697,778
				2,225,460
		Banking — 6.5%
	39,047	Bank of America Corp.		1,375,235
	9,778	JPMorgan Chase & Co.		1,363,053
	20,892	Wells Fargo & Co.		1,123,990
				3,862,278
		Business Services — 1.3%
	5,501	Equifax Inc.		770,800
		Computer Software and Services — 5.3%
	6,909	Activision Blizzard Inc.		410,533
	566	Alphabet Inc., Cl. A†		758,095
	1,408	Apple Inc.		413,459
	1,677	CACI International Inc., Cl. A†		419,233
	7,324	Microsoft Corp.		1,154,995
				3,156,315
		Consumer Products — 1.3%
	11,008	Colgate-Palmolive Co.		757,791
		Diversified Industrial — 1.9%
	6,426	Honeywell International Inc.		1,137,402
		Energy and Energy Services — 1.5%
	10,410	EOG Resources Inc.		871,942
		Energy: Integrated — 4.8%
	10,729	CMS Energy Corp.		674,210
	5,191	DTE Energy Co.		674,155
	2,983	NextEra Energy Inc.		722,363
	8,066	WEC Energy Group Inc.		743,927
				2,814,655
		Energy: Oil — 3.1%
	9,475	Chevron Corp.		1,141,832
	10,896	ConocoPhillips		708,567
				1,850,399
		Entertainment — 1.7%
	7,024	The Walt Disney Co.		1,015,881
		Financial Services — 6.2%
	14,330	American International Group Inc.		735,559
	5,697	Assurant Inc.		746,763
	4,879	Chubb Ltd.		759,465
	14,970	The Charles Schwab Corp.		711,973
	12,401	U.S. Bancorp		735,255
				3,689,015
		Food and Beverage — 3.8%
	12,816	General Mills Inc.		686,425
	18,297	Hormel Foods Corp.		825,378
	5,157	PepsiCo Inc.		704,807
				2,216,610
		Health Care — 7.9%
	8,740	Abbott Laboratories		759,156
	3,670	Becton, Dickinson and Co.		998,130
	8,037	Johnson & Johnson		1,172,357
	8,269	Medtronic plc		938,118
	2,635	UnitedHealth Group Inc.		774,637
				4,642,398

Shares			Market Value
		Real Estate — 3.1%
	2,683	Crown Castle International Corp., REIT	$	381,388
	3,474	Public Storage, REIT		739,823
	19,020	STORE Capital Corp., REIT		708,305
				1,829,516
		Retail — 4.3%
	4,529	Advance Auto Parts Inc.		725,365
	15,971	CVS Health Corp.		1,186,486
	2,933	The Home Depot Inc.		640,509
				2,552,360
		Semiconductors — 0.7%
	14,632	Marvell Technology Group Ltd.		388,626
		Telecommunications — 3.2%
	31,645	AT&T Inc.		1,236,687
	4,145	Motorola Solutions Inc.		667,925
				1,904,612
		Transportation — 1.3%
	4,390	Union Pacific Corp.		793,668
		TOTAL COMMON STOCKS		36,479,728
Principal Amount
		CORPORATE BONDS — 20.1%
		Aerospace — 1.0%
	$   595,000	Northrop Grumman Corp., 2.550%, 10/15/22		604,217
		Banking — 3.4%
	750,000	Fifth Third Bancorp, 2.375%, 01/28/25		751,843
	600,000	The Goldman Sachs Group Inc., MTN, 3.850%, 07/08/24		634,993
	600,000	Wells Fargo & Co., MTN, 3.500%, 03/08/22		619,817
				2,006,653
		Computer Software and Services — 0.5%
	300,000	Apple Inc., 3.450%, 02/09/45		316,771
		Consumer Products — 0.9%
	500,000	Colgate-Palmolive Co., MTN, 2.100%, 05/01/23		505,219
		Diversified Industrial — 0.9%
	510,000	Cabot Corp., 4.000%, 07/01/29		535,981
		Energy: Oil — 1.0%
	595,000	Halliburton Co., 3.250%, 11/15/21		607,332
		Financial Services — 6.5%
	600,000	Capital One Financial Corp., 3.750%, 04/24/24		632,314
	600,000	Ford Motor Credit Co. LLC, 3.470%, 04/05/21		605,711
	760,000	General Motors Financial Co. Inc., 2.650%, 04/13/20		760,984
	525,000	KKR Group Finance Co. VI LLC, 3.750%, 07/01/29		560,276

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TETON Westwood Balanced Fund

Schedule of Investments (Continued) — December 31, 2019 (Unaudited)

Principal Amount			Market Value
		CORPORATE BONDS (Continued)
		Financial Services (Continued)
	$   800,000	Morgan Stanley,
		3.591%, (3 Month USD LIBOR plus 1.34%) 07/22/28(a)	$	851,299
	400,000	The PNC Financial Services Group Inc., STEP, 2.854%, 11/09/22		409,757
				3,820,341
		Health Care — 3.3%
	500,000	Abbott Laboratories, 2.550%, 03/15/22		508,359
	600,000	Aetna Inc., 3.500%, 11/15/24		628,543
	800,000	CVS Health Corp., 3.250%, 08/15/29		814,709
				1,951,611
		Retail — 1.0%
	600,000	Macy’s Retail Holdings Inc., 3.450%, 01/15/21		605,675
		Transportation — 1.6%
	875,000	AP Moller - Maersk A/S, 4.500%, 06/20/29		934,969
		TOTAL CORPORATE BONDS		11,888,769
		U.S. GOVERNMENT AGENCY OBLIGATIONS — 1.9%
		Federal National Mortgage Association — 1.9%
	1,100,000	2.625%, 09/06/24		1,145,679

Principal Amount			Market Value
		U.S. GOVERNMENT OBLIGATIONS — 15.4%
		U.S. Treasury Bonds — 5.8%
	$   900,000	2.500%, 02/15/45	$	920,848
	1,000,000	2.500%, 05/15/46		1,023,887
	1,000,000	2.250%, 08/15/46		974,688
	500,000	2.750%, 08/15/47		537,744
				3,457,167
		U.S. Treasury Inflation Indexed Notes — 1.5%
	815,328	0.875%, 01/15/29		866,077
		U.S. Treasury Notes — 8.1%
	725,000	1.500%, 02/28/23		722,635
	1,000,000	2.250%, 11/15/24		1,026,484
	500,000	2.000%, 02/15/25		507,383
	950,000	2.250%, 08/15/27		977,350
	950,000	2.250%, 11/15/27		977,238
	545,000	2.625%, 02/15/29		578,115
				4,789,205
		TOTAL U.S. GOVERNMENT OBLIGATIONS		9,112,449
Shares
		SHORT TERM INVESTMENT — 0.9%
		Other Investment Companies — 0.9%
	547,180	Dreyfus Treasury Securities Cash Management, 1.440%*		547,180
		TOTAL INVESTMENTS — 100.0% (Cost $50,399,388)	$	59,173,805

* 1 day yield as of December 31, 2019.

(a) The interest rates for these floating rate notes, which will change periodically, are based either on the prime rate or an index of market rates. The reflected rates are in effect as of December 31, 2019. The maturity dates reflected are the final maturity dates.

† Non-income producing security.

MTN Medium Term Note REIT Real Estate Investment Trust

STEP Step coupon security. The rate disclosed is that in effect at December 31, 2019.

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