TETON Westwood SmallCap Equity Fund
Schedule of Investments — December 31, 2019 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS — 97.7% | ||||||||
Aerospace — 0.6% | ||||||||
3,600 | Hexcel Corp. | $ | 263,916 | |||||
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Automotive — 2.9% | ||||||||
14,100 | Rush Enterprises Inc., Cl. A | 655,650 | ||||||
11,300 | Winnebago Industries Inc. | 598,674 | ||||||
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1,254,324 | ||||||||
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Aviation: Parts and Services — 0.9% | ||||||||
8,000 | AAR Corp. | 360,800 | ||||||
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Banking — 23.5% | ||||||||
22,600 | Atlantic Capital Bancshares Inc.† | 414,710 | ||||||
9,433 | Atlantic Union Bankshares Corp. | 354,209 | ||||||
15,600 | Banc of California Inc. | 268,008 | ||||||
13,200 | BankUnited Inc. | 482,592 | ||||||
5,900 | Berkshire Hills Bancorp Inc. | 193,992 | ||||||
21,662 | Cadence BanCorp | 392,732 | ||||||
13,400 | CenterState Bank Corp. | 334,732 | ||||||
8,400 | Columbia Banking System Inc. | 341,754 | ||||||
3,200 | Financial Institutions Inc. | 102,720 | ||||||
34,400 | First Foundation Inc. | 598,560 | ||||||
10,200 | Flushing Financial Corp. | 220,371 | ||||||
9,300 | Glacier Bancorp Inc. | 427,707 | ||||||
20,100 | Heritage Commerce Corp. | 257,883 | ||||||
52,050 | Investors Bancorp Inc. | 620,176 | ||||||
6,500 | Live Oak Bancshares Inc. | 123,565 | ||||||
15,450 | OceanFirst Financial Corp. | 394,593 | ||||||
17,350 | OFG Bancorp | 409,633 | ||||||
17,000 | PCSB Financial Corp. | 344,250 | ||||||
6,283 | Prosperity Bancshares Inc. | 451,685 | ||||||
29,206 | Sterling Bancorp | 615,662 | ||||||
22,200 | TrustCo Bank Corp. | 192,474 | ||||||
19,050 | Umpqua Holdings Corp. | 337,185 | ||||||
37,720 | Valley National Bancorp | 431,894 | ||||||
33,200 | Veritex Holdings Inc. | 967,116 | ||||||
14,000 | Washington Federal Inc. | 513,100 | ||||||
4,700 | Washington Trust Bancorp Inc. | 252,813 | ||||||
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10,044,116 | ||||||||
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Broadcasting — 0.8% | ||||||||
11,800 | Chicken Soup For The Soul Entertainment Inc.† | 94,400 | ||||||
17,600 | Hemisphere Media Group Inc.† | 261,360 | ||||||
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355,760 | ||||||||
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Building and Construction — 2.1% | ||||||||
6,300 | EMCOR Group Inc. | 543,690 | ||||||
10,900 | MYR Group Inc.† | 355,231 | ||||||
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898,921 | ||||||||
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Business Services — 4.3% | ||||||||
21,000 | ABM Industries Inc. | 791,910 | ||||||
4,850 | FTI Consulting Inc.† | 536,701 | ||||||
6,600 | McGrath RentCorp | 505,164 | ||||||
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1,833,775 | ||||||||
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Communications — 1.2% | ||||||||
16,100 | Meredith Corp. | 522,767 | ||||||
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Communications Equipment — 5.5% | ||||||||
94,500 | Extreme Networks Inc.† | 696,465 | ||||||
122,800 | Infinera Corp.† | 975,032 | ||||||
5,722 | Lumentum Holdings Inc.† | 453,755 | ||||||
15,500 | Switch Inc., Cl. A | 229,710 | ||||||
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2,354,962 | ||||||||
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Computer Software and Services — 8.0% | ||||||||
8,300 | Bottomline Technologies DE Inc.† | 444,880 | ||||||
31,300 | Cloudera Inc.† | 364,019 | ||||||
8,600 | ForeScout Technologies Inc.† | 282,080 | ||||||
5,900 | LogMeIn Inc. | 505,866 |
Shares | Market Value | |||||||
44,000 | NetScout Systems Inc.† | $ | 1,059,080 | |||||
15,600 | Progress Software Corp. | 648,180 | ||||||
4,800 | Teradata Corp.† | 128,496 | ||||||
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3,432,601 | ||||||||
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Consumer Products — 2.5% | ||||||||
21,900 | Hanesbrands Inc. | 325,215 | ||||||
3,600 | iRobot Corp.† | 182,268 | ||||||
7,300 | Oxford Industries Inc. | 550,566 | ||||||
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1,058,049 | ||||||||
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Diversified Industrial — 1.8% | ||||||||
3,900 | Fabrinet† | 252,876 | ||||||
24,300 | Steelcase Inc., Cl. A | 497,178 | ||||||
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750,054 | ||||||||
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Electronics — 5.2% | ||||||||
13,300 | Advanced Energy Industries Inc.† | 946,960 | ||||||
7,500 | FARO Technologies Inc.† | 377,625 | ||||||
14,100 | Plantronics Inc. | 385,494 | ||||||
25,700 | TTM Technologies Inc.† | 386,785 | ||||||
900 | Woodward Inc. | 106,596 | ||||||
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2,203,460 | ||||||||
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Energy and Utilities — 8.5% | ||||||||
10,800 | Apergy Corp.† | 364,824 | ||||||
55,200 | Centennial Resource Development Inc., Cl. A† | 255,024 | ||||||
41,200 | Magnolia Oil & Gas Corp., Cl. A† | 518,296 | ||||||
24,200 | Matador Resources Co.† | 434,874 | ||||||
23,700 | Oceaneering International Inc.† | 353,367 | ||||||
34,500 | Parsley Energy Inc., Cl. A | 652,395 | ||||||
94,200 | Patterson-UTI Energy Inc. | 989,100 | ||||||
2,100 | Penn Virginia Corp.† | 63,735 | ||||||
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3,631,615 | ||||||||
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Environmental Control — 1.0% | ||||||||
22,600 | Evoqua Water Technologies Corp.† | 428,270 | ||||||
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Equipment and Supplies — 1.2% | ||||||||
11,300 | CIRCOR International Inc.† | 522,512 | ||||||
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Financial Services — 3.4% | ||||||||
3,703 | Brookfield Asset Management Inc., Cl. A | 214,033 | ||||||
16,600 | Brown & Brown Inc. | 655,368 | ||||||
11,800 | Coastal Financial Corp.† | 194,346 | ||||||
6,500 | Stifel Financial Corp. | 394,225 | ||||||
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1,457,972 | ||||||||
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Health Care — 6.1% | ||||||||
2,700 | AMN Healthcare Services Inc.† | 168,237 | ||||||
1,780 | ICU Medical Inc.† | 333,074 | ||||||
12,800 | Natus Medical Inc.† | 422,272 | ||||||
6,550 | Omnicell Inc.† | 535,266 | ||||||
44,900 | Patterson Cos. Inc. | 919,552 | ||||||
10,400 | Supernus Pharmaceuticals Inc.† | 246,688 | ||||||
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2,625,089 | ||||||||
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Machinery — 1.2% | ||||||||
42,300 | Mueller Water Products Inc., Cl. A | 506,754 | ||||||
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Real Estate — 1.0% | ||||||||
6,000 | Equity Commonwealth, REIT | 196,980 | ||||||
15,200 | Paramount Group Inc., REIT | 211,584 | ||||||
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408,564 | ||||||||
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Retail — 2.7% | ||||||||
3,550 | American Eagle Outfitters Inc. | 52,185 | ||||||
38,000 | Ethan Allen Interiors Inc. | 724,280 | ||||||
14,100 | The Hain Celestial Group Inc.† | 365,965 | ||||||
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1,142,430 | ||||||||
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1
TETON Westwood SmallCap Equity Fund
Schedule of Investments (Continued) — December 31, 2019 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Semiconductors — 8.4% | ||||||||
2,600 | Cabot Microelectronics Corp. | $ | 375,232 | |||||
24,300 | Entegris Inc. | 1,217,187 | ||||||
28,100 | FormFactor Inc.† | 729,757 | ||||||
6,000 | MACOM Technology Solutions Holdings Inc.† | 159,600 | ||||||
20,600 | Marvell Technology Group Ltd. | 547,136 | ||||||
15,900 | Onto Innovation Inc.† | 580,986 | ||||||
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3,609,898 | ||||||||
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Specialty Chemicals — 4.1% | ||||||||
41,400 | Darling Ingredients Inc.† | 1,162,512 | ||||||
29,100 | Ferro Corp.† | 431,553 | ||||||
4,700 | PolyOne Corp. | 172,913 | ||||||
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1,766,978 | ||||||||
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Transportation — 0.8% | ||||||||
10,600 | The Greenbrier Companies Inc. | 343,758 | ||||||
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TOTAL COMMON STOCKS | 41,777,345 | |||||||
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RIGHTS — 0.0% | ||||||||
Specialty Chemicals — 0.0% | ||||||||
22,200 | A. Schulman Inc., CVR†(a) | 11,611 | ||||||
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Principal | Market Value | |||||||
U.S. GOVERNMENT OBLIGATIONS — 2.3% |
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$ 987,000 | U.S. Treasury Bills, | $ | 986,174 | |||||
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TOTAL INVESTMENTS — 100.0% | $ | 42,775,130 | ||||||
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(a) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
† | Non-income producing security. |
†† | Represents annualized yields at dates of purchase. |
CVR | Contingent Value Right |
REIT | Real Estate Investment Trust |
2