TETON
Westwood
Balanced
Fund
Schedule
of
Investments—June
30,
2022
(Unaudited)
1
Shares
Market
Value
COMMON
STOCKS
—
63.3%
Aerospace
—
1.8%
3,325
L3Harris
Technologies
Inc.
...............................
$
803,652
Automotive:
Parts
and
Accessories
—
1.4%
937
O'Reilly
Automotive
Inc.†
.................................
591,959
Banking
—
2.4%
21,838
Bank
of
America
Corp.
......................................
679,817
5,469
Western
Alliance
Bancorp
.................................
386,111
1,065,928
Business
Services
—
1.3%
2,812
Visa
Inc.,
Cl. A
....................................................
553,655
Computer
Software
and
Services
—
7.8%
1,568
Accenture
plc,
Cl. A
...........................................
435,355
283
Alphabet
Inc.,
Cl. A†
.........................................
616,731
2,142
CACI
International
Inc.,
Cl. A†
.........................
603,573
3,379
Cadence
Design
Systems
Inc.†
.........................
506,951
2,203
Meta
Platforms
Inc.,
Cl. A†
...............................
355,234
3,557
Microsoft
Corp.
..................................................
913,544
3,431,388
Consumer
Services
—
1.4%
5,880
Amazon.com
Inc.†
.............................................
624,515
Diversified
Industrial
—
3.2%
5,533
Eaton
Corp.
plc
..................................................
697,103
1,646
Honeywell
International
Inc.
............................
286,091
15,511
Huntsman
Corp.
................................................
439,737
1,422,931
Electronics
—
2.4%
10,307
Microchip
Technology
Inc.
................................
598,631
1,130
Monolithic
Power
Systems
Inc.
........................
433,965
1,032,596
Energy
and
Energy
Services
—
1.8%
2,727
EOG
Resources
Inc.
...........................................
301,170
4,383
Valero
Energy
Corp.
..........................................
465,825
766,995
Energy:
Integrated
—
2.6%
2,637
DTE
Energy
Co.
.................................................
334,240
3,805
NextEra
Energy
Inc.
..........................................
294,735
5,125
WEC
Energy
Group
Inc.
...................................
515,780
1,144,755
Energy:
Oil
—
1.9%
2,357
Chevron
Corp.
...................................................
341,246
3,243
ConocoPhillips
...................................................
291,254
3,948
Devon
Energy
Corp.
..........................................
217,574
850,074
Equipment
and
Supplies
—
1.7%
7,288
Amphenol
Corp.,
Cl. A
.....................................
469,202
1,095
Danaher
Corp.
...................................................
277,604
746,806
Financial
Services
—
8.1%
6,056
American
International
Group
Inc.
..................
309,643
1,969
Berkshire
Hathaway
Inc.,
Cl. B†
.......................
537,576
4,750
Blackstone
Inc.
...................................................
433,343
7,006
The
Charles
Schwab
Corp.
................................
442,639
2,446
The
Goldman
Sachs
Group
Inc.
........................
726,511
3,041
The
PNC
Financial
Services
Group
Inc.
...........
479,779
Shares
Market
Value
5,519
The
Progressive
Corp.
.......................................
$
641,694
3,571,185
Food
and
Beverage
—
2.0%
6,509
McCormick
&
Co.
Inc.,
Non-Voting
.................
541,874
1,999
PepsiCo
Inc.
........................................................
333,154
875,028
Health
Care
—
8.7%
3,023
Becton,
Dickinson
and
Co.
................................
745,260
8,598
Gilead
Sciences
Inc.
...........................................
531,443
5,875
Johnson
&
Johnson
............................................
1,042,871
941
McKesson
Corp.
.................................................
306,964
2,332
UnitedHealth
Group
Inc.
..................................
1,197,785
3,824,323
Real
Estate
—
2.8%
3,144
Alexandria
Real
Estate
Equities
Inc.,
REIT
......
455,974
2,018
Prologis
Inc.,
REIT
.............................................
237,418
17,222
VICI
Properties
Inc.,
REIT
.................................
513,043
1,206,435
Retail
—
5.0%
6,378
CVS
Health
Corp.
..............................................
590,986
2,752
Dollar
General
Corp.
.........................................
675,451
1,568
The
Home
Depot
Inc.
........................................
430,055
4,254
Walmart
Inc.
.......................................................
517,201
2,213,693
Semiconductors
—
1.8%
1,912
NVIDIA
Corp.
....................................................
289,840
5,566
Teradyne
Inc.
......................................................
498,435
788,275
Telecommunications
—
3.6%
34,353
AT&T
Inc.
...........................................................
720,039
6,328
T-Mobile
US
Inc.†
..............................................
851,369
1,571,408
Transportation
—
1.6%
3,264
Union
Pacific
Corp.
............................................
696,146
TOTAL
COMMON
STOCKS
.........................
27,781,747
MANDATORY
CONVERTIBLE
SECURITIES
(a) —
1.2%
Health
Care
—
1.2%
5,090
Boston
Scientific
Corp.,
Ser.
A,
5.500%,
06/01/23
..............................................
516,330
Principal
Amount
CORPORATE
BONDS
—
26.8%
Aerospace
—
0.6%
$
255,000
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust,
4.450%,
10/01/25
..............................................
247,019
Banking
—
3.0%
750,000
Fifth
Third
Bancorp,
2.375%,
01/28/25
..............................................
719,491
600,000
The
Goldman
Sachs
Group
Inc.,
MTN,
3.850%,
07/08/24
..............................................
602,280
1,321,771
TETON
Westwood
Balanced
Fund
Schedule
of
Investments
(Continued)—June
30,
2022
(Unaudited)
2
Principal
Amount
Market
Value
CORPORATE
BONDS
(Continued)
Computer
Software
and
Services
—
0.6%
$
289,000
HP
Inc.,
5.500%,
01/15/33
..............................................
$
283,002
Diversified
Industrial
—
1.5%
510,000
Cabot
Corp.,
4.000%,
07/01/29
..............................................
480,215
191,000
Jabil
Inc.,
1.700%,
04/15/26
..............................................
171,484
651,699
Energy
and
Energy
Services
—
1.1%
235,000
Energy
Transfer
LP,
6.250%,
04/15/49
..............................................
229,502
260,000
Plains
All
American
Pipeline
LP
/
PAA
Finance
Corp.,
3.800%,
09/15/30
..............................................
230,648
460,150
Energy:
Oil
—
1.9%
55,000
Diamondback
Energy
Inc.,
3.125%,
03/24/31
..............................................
48,074
275,000
MPLX
LP,
2.650%,
08/15/30
..............................................
230,394
395,000
Petroleos
Mexicanos,
6.700%,
02/16/32
..............................................
302,017
259,000
Piedmont
Natural
Gas
Co.
Inc.,
5.050%,
05/15/52
..............................................
255,597
836,082
Financial
Services
—
6.0%
138,000
American
Honda
Finance
Corp.,
MTN,
1.000%,
09/10/25
..............................................
126,102
500,000
Bank
of
America
Corp.,
(U.S.
Secured
Overnight
Financing
Rate
+
1.21%),
2.572%,
10/20/32(b)
.........................................
414,089
500,000
Bank
of
Montreal,
MTN,
2.650%,
03/08/27
..............................................
464,195
140,000
Berkshire
Hathaway
Finance
Corp.,
2.850%,
10/15/50
..............................................
101,724
600,000
Capital
One
Financial
Corp.,
3.750%,
04/24/24
..............................................
598,518
500,000
Citigroup
Inc.,
(U.S.
Secured
Overnight
Financing
Rate
+
1.28%),
3.070%,
02/24/28(b)
.........................................
464,469
405,000
Owl
Rock
Capital
Corp.,
3.400%,
07/15/26
..............................................
356,665
118,000
Schlumberger
Finance
Canada
Ltd.,
1.400%,
09/17/25
..............................................
109,669
2,635,431
Food
and
Beverage
—
0.7%
380,000
The
J.M.
Smucker
Co.,
3.550%,
03/15/50
..............................................
289,021
Health
Care
—
2.9%
600,000
Aetna
Inc.,
3.500%,
11/15/24
..............................................
593,910
750,000
Amgen
Inc.,
2.200%,
02/21/27
..............................................
691,224
1,285,134
Principal
Amount
Market
Value
Hotels
and
Gaming
—
0.5%
$
235,000
Marriott
International
Inc.,
4.625%,
06/15/30
..............................................
$
226,047
Real
Estate
—
1.7%
400,000
Boston
Properties
LP,
2.450%,
10/01/33
..............................................
308,766
150,000
Brixmor
Operating
Partnership
LP,
2.250%,
04/01/28
..............................................
129,037
265,000
Realty
Income
Corp.,
2.850%,
12/15/32
..............................................
228,815
113,000
Vornado
Realty
LP,
3.400%,
06/01/31
..............................................
95,082
761,700
Retail
—
2.3%
151,000
7-Eleven
Inc.,
0.950%,
02/10/26(c)
.........................................
133,618
200,000
AutoZone
Inc.,
1.650%,
01/15/31
..............................................
157,458
800,000
CVS
Health
Corp.,
3.250%,
08/15/29
..............................................
732,660
1,023,736
Semiconductors
—
1.1%
235,000
Broadcom
Inc.,
4.150%,
11/15/30
..............................................
216,077
275,000
NXP
BV
/
NXP
Funding
LLC
/
NXP
USA
Inc.,
5.000%,
01/15/33
..............................................
269,687
485,764
Telecommunications
—
0.9%
270,000
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
Corp.,
3.700%,
04/01/51
..............................................
184,356
245,000
Rogers
Communications
Inc.,
4.550%,
03/15/52(c)
.........................................
217,662
402,018
Transportation
—
2.0%
875,000
AP
Moller
-
Maersk
A/S,
4.500%,
06/20/29(c)
.........................................
854,096
TOTAL
CORPORATE
BONDS
.......................
11,762,670
CONVERTIBLE
CORPORATE
BONDS
—
1.2%
Computer
Software
and
Services
—
0.7%
350,000
Splunk
Inc.,
1.125%,
06/15/27
..............................................
290,500
Health
Care
—
0.5%
325,000
Exact
Sciences
Corp.,
0.375%,
03/15/27
..............................................
238,469
TOTAL
CONVERTIBLE
CORPORATE
BONDS
...........................................................
528,969
U.S.
GOVERNMENT
OBLIGATIONS
—
7.5%
U.S.
Treasury
Bonds
—
3.5%
450,000
2.500%,
02/15/45
..............................................
384,539
700,000
2.500%,
05/15/46
..............................................
598,226
350,000
2.250%,
08/15/46
..............................................
284,621
TETON
Westwood
Balanced
Fund
Schedule
of
Investments
(Continued)—June
30,
2022
(Unaudited)
3
__________
Principal
Amount
Market
Value
U.S.
GOVERNMENT
OBLIGATIONS
(Continued)
$
350,000
1.875%,
02/15/51
..............................................
$
264,975
1,532,361
U.S.
Treasury
Notes
—
4.0%
900,000
0.750%,
05/31/26
..............................................
824,625
125,000
1.250%,
12/31/26
..............................................
115,720
350,000
3.250%,
06/30/27
..............................................
353,992
330,000
2.250%,
11/15/27
..............................................
316,968
159,000
2.625%,
02/15/29
..............................................
155,137
1,766,442
TOTAL
U.S.
GOVERNMENT
OBLIGATIONS
.............................................
3,298,803
TOTAL
INVESTMENTS
—
100.0%
(Cost
$43,832,683)
...........................................
$
43,888,519
†
Non-income
producing
security.
(a)
Mandatory
convertible
securities
are
required
to
be
converted
on
the
dates
listed;
they
generally
may
be
converted
prior
to
these
dates
at
the
option
of
the
holder.
(b)
Variable
rate
security.
Security
may
be
issued
at
a
fixed
coupon
rate,
which
converts
to
a
variable
rate
at
a
specified
date.
Rate
shown
is
the
rate
in
effect
as
of
June
30,
2022.
(c)
Securities
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
MTN
Medium
Term
Note
REIT
Real
Estate
Investment
Trust