TETON Westwood SmallCap Equity Fund

Schedule of Investments — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS — 97.7%
		Aerospace — 0.5%
	3,600	Hexcel Corp.	$	162,792
		Automotive — 3.8%
	10,500	Rush Enterprises Inc., Cl. A		435,330
	10,600	Winnebago Industries Inc.		706,172
				1,141,502
		Aviation: Parts and Services — 1.8%
	26,700	AAR Corp.		551,889
		Banking — 18.6%
	22,600	Atlantic Capital Bancshares Inc.†		274,816
	9,433	Atlantic Union Bankshares Corp.		218,468
	15,600	Banc of California Inc.		168,948
	13,200	BankUnited Inc.		267,300
	8,400	Columbia Banking System Inc.		238,098
	3,200	Financial Institutions Inc.		59,552
	34,400	First Foundation Inc.		562,096
	9,300	Glacier Bancorp Inc.		328,197
	52,050	Investors Bancorp Inc.		442,425
	6,500	Live Oak Bancshares Inc.		94,315
	17,150	OceanFirst Financial Corp.		302,355
	17,350	OFG Bancorp		231,969
	17,000	PCSB Financial Corp.		215,560
	4,021	South State Corp.		191,641
	20,806	Sterling Bancorp		243,846
	22,200	TrustCo Bank Corp.		140,526
	19,050	Umpqua Holdings Corp.		202,692
	50,320	Valley National Bancorp		393,502
	33,200	Veritex Holdings Inc.		587,640
	14,000	Washington Federal Inc.		375,760
	4,700	Washington Trust Bancorp Inc.		153,925
				5,693,631
		Broadcasting — 0.9%
	11,800	Chicken Soup For The Soul Entertainment Inc.†		81,538
	20,600	Hemisphere Media Group Inc.†		202,498
				284,036
		Building and Construction — 2.1%
	5,500	EMCOR Group Inc.		363,770
	8,800	MYR Group Inc.†		280,808
				644,578
		Business Services — 5.1%
	21,000	ABM Industries Inc.		762,300
	3,150	FTI Consulting Inc.†		360,833
	3,900	Heidrick & Struggles International Inc.		84,318
	6,600	McGrath RentCorp		356,466
				1,563,917
		Communications — 0.7%
	14,100	Meredith Corp.		205,155
		Communications Equipment — 5.0%
	94,500	Extreme Networks Inc.†		410,130
	122,800	Infinera Corp.†		726,976
	4,822	Lumentum Holdings Inc.†		392,655
				1,529,761
		Computer Software and Services — 8.4%
	7,600	Bottomline Technologies DE Inc.†		385,852
	28,400	Cloudera Inc.†		361,248
	39,800	NetScout Systems Inc.†		1,017,288
	16,300	Progress Software Corp.		631,625
	8,600	Teradata Corp.†		178,880
				2,574,893
		Consumer Products — 2.6%
	18,800	Hanesbrands Inc.		212,252

Shares			Market Value
	2,500	iRobot Corp.†	$	209,750
	3,900	KAR Auction Services Inc.		53,664
	7,300	Oxford Industries Inc.		321,273
				796,939
		Diversified Industrial — 2.0%
	4,900	Kennametal Inc.		140,679
	26,900	Steelcase Inc., Cl. A		324,414
	17,700	Textainer Group Holdings Ltd.†		144,786
				609,879
		Electronics — 6.2%
	13,300	Advanced Energy Industries Inc.†		901,607
	7,500	FARO Technologies Inc.†		402,000
	14,100	Plantronics Inc.		206,988
	25,700	TTM Technologies Inc.†		304,802
	900	Woodward Inc.		69,795
				1,885,192
		Energy and Utilities — 4.8%
	55,200	Centennial Resource Development Inc., Cl. A†		49,128
	10,800	ChampionX Corp.†		105,408
	41,200	Magnolia Oil & Gas Corp., Cl. A†		249,672
	24,200	Matador Resources Co.†		205,700
	23,700	Oceaneering International Inc.†		151,443
	34,500	Parsley Energy Inc., Cl. A		368,460
	94,200	Patterson-UTI Energy Inc.		326,874
	2,100	Penn Virginia Corp.†		20,013
				1,476,698
		Environmental Control — 1.4%
	22,600	Evoqua Water Technologies Corp.†		420,360
		Equipment and Supplies — 1.5%
	11,300	CIRCOR International Inc.†		287,924
	5,300	Flowserve Corp.		151,156
				439,080
		Financial Services — 3.9%
	22,600	Boston Private Financial Holdings Inc.		155,488
	11,900	Brown & Brown Inc.		485,044
	3,900	Mercury General Corp.		158,925
	6,400	ProAssurance Corp.		92,608
	6,500	Stifel Financial Corp.		308,295
				1,200,360
		Health Care — 7.2%
	2,700	AMN Healthcare Services Inc.†		122,148
	1,780	ICU Medical Inc.†		328,072
	12,800	Natus Medical Inc.†		279,296
	5,850	Omnicell Inc.†		413,127
	38,500	Patterson Cos. Inc.		847,000
	9,000	Supernus Pharmaceuticals Inc.†		213,750
				2,203,393
		Machinery — 1.3%
	42,300	Mueller Water Products Inc., Cl. A		398,889
		Real Estate — 0.7%
	4,000	Alpine Income Property Trust Inc., REIT		65,040
	8,500	CareTrust REIT Inc.		145,860
				210,900
		Retail — 3.8%
	13,350	American Eagle Outfitters Inc.		145,515
	45,100	Ethan Allen Interiors Inc.		533,533
	2,300	Penske Automotive Group Inc.		89,033
	12,200	The Hain Celestial Group Inc.†		384,422
				1,152,503
		Semiconductors — 9.2%
	1,100	Cabot Microelectronics Corp.		153,494

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TETON Westwood SmallCap Equity Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Semiconductors (Continued)
	10,700	Entegris Inc.	$	631,835
	19,100	FormFactor Inc.†		560,203
	14,200	Marvell Technology Group Ltd.		497,852
	7,500	nLight Inc.†		166,950
	23,500	Onto Innovation Inc.†		799,940
				2,810,274
		Specialty Chemicals — 4.7%
	26,700	Darling Ingredients Inc.†		657,354
	44,700	Ferro Corp.†		533,718
	2,700	Minerals Technologies Inc.		126,711
	4,700	PolyOne Corp.		123,281
				1,441,064
		Transportation — 1.5%
	19,900	The Greenbrier Companies Inc.		452,725
		TOTAL COMMON STOCKS		29,850,410

Principal Amount			Market Value
		U.S. GOVERNMENT OBLIGATIONS — 2.3%
	$715,000	U.S. Treasury Bills, 0.120% to 0.156%††, 08/27/20 to 09/03/20	$	714,836
		TOTAL INVESTMENTS — 100.0% (Cost $31,414,106)	$	30,565,246

† Non-income producing security.

†† Represents annualized yields at dates of purchase.

REIT Real Estate Investment Trust

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