TETON Westwood Balanced Fund Class AAA (WEBAX) NPORT-P TETON Westwood Mighty Mites Fund (Dec 2022 report)

TETON

Westwood

Mighty

Mites

Fund

Schedule

of

Investments—December

31,

2022

(Unaudited)

1

Shares

Market

Value

COMMON

STOCKS

—

98

.8

%

Aerospace

and

Defense

—

5

.2

%

270,000‌

Aerojet

Rocketdyne

Holdings

Inc.

†

.................

$

15,101,100‌

127,400‌

Allied

Motion

Technologies

Inc.

.......................

4,434,794‌

147,000‌

Avio

SpA

............................................................

1,505,898‌

106,000‌

Innovative

Solutions

and

Support

Inc.

†

...........

871,320‌

7,000‌

Kratos

Defense

&

Security

Solutions

Inc.

†

......

72,240‌

60,600‌

Park

Aerospace

Corp.

........................................

812,646‌

22,797,998‌

Agriculture

—

0

.7

%

215‌

J.G.

Boswell

Co.

..................................................

184,900‌

194,000‌

Limoneira

Co.

....................................................

2,368,740‌

375,000‌

S&W

Seed

Co.

†

..................................................

558,750‌

3,112,390‌

Automotive

—

2

.0

%

38,660‌

Rush

Enterprises

Inc.

,

Cl. A

..............................

2,021,145‌

85,300‌

Rush

Enterprises

Inc.

,

Cl. B

...............................

4,799,831‌

10,900‌

TravelCenters

of

America

Inc.

†

........................

488,102‌

52,700‌

Wabash

National

Corp.

.....................................

1,191,020‌

8,500,098‌

Automotive:

Parts

and

Accessories

—

3

.0

%

281,000‌

Commercial

Vehicle

Group

Inc.

†

......................

1,913,610‌

47,500‌

Dana

Inc.

............................................................

718,675‌

12,190‌

Gentherm

Inc.

†

..................................................

795,885‌

271,500‌

Modine

Manufacturing

Co.

†

............................

5,391,990‌

18,000‌

Motorcar

Parts

of

America

Inc.

†

.......................

213,480‌

80,000‌

Puradyn

Filter

Technologies

Inc.

†

....................

8‌

43,028‌

Standard

Motor

Products

Inc.

..........................

1,497,375‌

110,560‌

Strattec

Security

Corp.

†

.....................................

2,272,008‌

20,500‌

Titan

International

Inc.

†

....................................

314,060‌

13,117,091‌

Aviation:

Parts

and

Services

—

3

.2

%

238,000‌

Astronics

Corp.

†

................................................

2,451,400‌

23,896‌

Astronics

Corp.

,

Cl. B

†

......................................

237,765‌

178,040‌

Ducommun

Inc.

†

...............................................

8,894,879‌

41,000‌

Heroux-Devtek

Inc.

†

.........................................

398,039‌

94,830‌

Kaman

Corp.

......................................................

2,114,709‌

14,096,792‌

Broadcasting

—

1

.3

%

308,000‌

Beasley

Broadcast

Group

Inc.

,

Cl. A

†

...............

283,422‌

295,145‌

Dish

TV

India

Ltd.

,

GDR

†

.................................

44,272‌

241,120‌

Gray

Television

Inc.

...........................................

2,698,133‌

86,600‌

Gray

Television

Inc.

,

Cl. A

................................

943,065‌

32,000‌

Sinclair

Broadcast

Group

Inc.

,

Cl. A

.................

496,320‌

150,000‌

Townsquare

Media

Inc.

,

Cl. A

†

........................

1,087,500‌

5,552,712‌

Building

and

Construction

—

3

.2

%

60,000‌

Armstrong

Flooring

Inc.

†

..................................

600‌

86,000‌

Gibraltar

Industries

Inc.

†

..................................

3,945,680‌

5,000‌

Granite

Construction

Inc.

..................................

175,350‌

5,700‌

Herc

Holdings

Inc.

.............................................

749,949‌

22,700‌

MYR

Group

Inc.

†

...............................................

2,089,989‌

64,495‌

The

Monarch

Cement

Co.

.................................

6,965,460‌

13,927,028‌

Business

Services

—

2

.0

%

111,000‌

Diebold

Nixdorf

Inc.

†

........................................

157,620‌

36,900‌

Du-Art

Film

Laboratories

Inc.

†

(a)

....................

239,850‌

4,100‌

Du-Art

Film

Laboratories

Inc.

†

(a)

....................

26,650‌

13,000‌

IAA

Inc.

†

............................................................

520,000‌

Shares

Market

Value

19,780‌

ICF

International

Inc.

........................................

$

1,959,209‌

31,800‌

KAR

Auction

Services

Inc.

†

..............................

414,990‌

236,000‌

PFSweb

Inc.

........................................................

1,451,400‌

11,000‌

Team

Inc.

†

..........................................................

57,750‌

2,300,000‌

Trans-Lux

Corp.

†

(b)

..........................................

950,590‌

49,660‌

Viad

Corp.

†

........................................................

1,211,207‌

85,000‌

Willdan

Group

Inc.

†

..........................................

1,517,250‌

8,506,516‌

Communications

—

0

.5

%

179,000‌

Comtech

Telecommunications

Corp.

...............

2,173,060‌

Communications

Equipment

—

0

.5

%

63,000‌

Anterix

Inc.

†

.......................................................

2,026,710‌

Computer

Software

and

Services

—

1

.5

%

4,000‌

Agilysys

Inc.

†

.....................................................

316,560‌

716,821‌

Alithya

Group

Inc.

,

Cl. A

†

................................

1,060,895‌

134,000‌

American

Software

Inc.

,

Cl. A

..........................

1,967,120‌

30,000‌

Avid

Technology

Inc.

†

.......................................

797,700‌

4,000‌

Cardlytics

Inc.

†

..................................................

23,120‌

45,000‌

DHI

Group

Inc.

†

................................................

238,050‌

10,000‌

Digi

International

Inc.

†

.....................................

365,500‌

10,000‌

Materialise

NV

,

ADR

†

.......................................

88,000‌

137,000‌

Mitek

Systems

Inc.

†

...........................................

1,327,530‌

45,000‌

Otonomo

Technologies

Ltd.

†

............................

18,000‌

30,000‌

Playstudios

Inc.

†

................................................

116,400‌

1,000‌

Tyler

Technologies

Inc.

†

....................................

322,410‌

6,641,285‌

Consumer

Products

—

2

.3

%

55,000‌

Acme

United

Corp.

............................................

1,204,500‌

27,700‌

Bassett

Furniture

Industries

Inc.

.......................

481,426‌

850,000‌

Goodbaby

International

Holdings

Ltd.

†

..........

68,606‌

5,000‌

Johnson

Outdoors

Inc.

,

Cl. A

............................

330,600‌

244,675‌

Lifetime

Brands

Inc.

..........................................

1,857,083‌

389,561‌

Marine

Products

Corp.

......................................

4,585,133‌

13,000‌

MarineMax

Inc.

†

................................................

405,860‌

10,000‌

Nautilus

Inc.

†

.....................................................

15,300‌

22,120‌

Oil-Dri

Corp.

of

America

..................................

741,905‌

5,700‌

PC

Group

Inc.

†

..................................................

0‌

2,300,000‌

Playmates

Holdings

Ltd.

...................................

165,013‌

9,855,426‌

Consumer

Services

—

0

.4

%

152,000‌

1-800-Flowers.com

Inc.

,

Cl. A

†

.........................

1,453,120‌

63,400‌

Bowlin

Travel

Centers

Inc.

†

..............................

293,225‌

3,500‌

Carriage

Services

Inc.

........................................

96,390‌

1,842,735‌

Diversified

Industrial

—

11

.7

%

112,000‌

American

Outdoor

Brands

Inc.

†

.......................

1,122,240‌

133,516‌

Ampco-Pittsburgh

Corp.

†

.................................

335,125‌

213,600‌

Burnham

Holdings

Inc.

,

Cl. A

(b)

......................

2,670,000‌

34,000‌

Chase

Corp.

........................................................

2,932,840‌

69,000‌

Columbus

McKinnon

Corp.

..............................

2,240,430‌

183,000‌

Distribution

Solutions

Group

Inc.

†

..................

6,745,380‌

112,000‌

Graham

Corp.

†

..................................................

1,077,440‌

35,000‌

Griffon

Corp.

......................................................

1,252,650‌

18,700‌

Haulotte

Group

SA

............................................

69,360‌

1,500‌

Hyster-Yale

Materials

Handling

Inc.

................

37,965‌

272,000‌

Intevac

Inc.

†

.......................................................

1,759,840‌

10,000‌

John

Bean

Technologies

Corp.

..........................

913,300‌

147,479‌

L.B.

Foster

Co.

,

Cl. A

†

........................................

1,427,597‌

7,800‌

MSA

Safety

Inc.

..................................................

1,124,682‌

TETON

Westwood

Mighty

Mites

Fund

Schedule

of

Investments

(Continued)—December

31,

2022

(Unaudited)

2

Shares

Market

Value

COMMON

STOCKS

(Continued)

Diversified

Industrial

(Continued)

683,370‌

Myers

Industries

Inc.

.........................................

$

15,191,315‌

12,000‌

Napco

Security

Technologies

Inc.

†

...................

329,760‌

192,500‌

Park-Ohio

Holdings

Corp.

................................

2,354,275‌

19,500‌

RWC

Inc.

†

...........................................................

175,500‌

14,400‌

Standex

International

Corp.

..............................

1,474,704‌

92,400‌

Steel

Partners

Holdings

LP

†

.............................

3,954,720‌

234,500‌

Tredegar

Corp.

...................................................

2,396,590‌

110,000‌

Twin

Disc

Inc.

†

...................................................

1,069,200‌

50,654,913‌

Educational

Services

—

0

.1

%

95,000‌

Universal

Technical

Institute

Inc.

†

...................

638,400‌

Electronics

—

5

.6

%

147,000‌

Arlo

Technologies

Inc.

†

.....................................

515,970‌

6,800‌

Badger

Meter

Inc.

..............................................

741,404‌

122,800‌

Bel

Fuse

Inc.

,

Cl. A

(b)

........................................

4,088,012‌

213,580‌

CTS

Corp.

...........................................................

8,419,324‌

43,800‌

Daktronics

Inc.

†

.................................................

123,516‌

30,000‌

IMAX

Corp.

†

......................................................

439,800‌

35,400‌

Kimball

Electronics

Inc.

†

...................................

799,686‌

4,000‌

Mesa

Laboratories

Inc.

......................................

664,840‌

17,090‌

Methode

Electronics

Inc.

...................................

758,283‌

575,000‌

Schmitt

Industries

Inc.

†

(b)

................................

174,397‌

95,500‌

Stoneridge

Inc.

†

.................................................

2,058,980‌

84,500‌

Ultra

Clean

Holdings

Inc.

†

...............................

2,801,175‌

154,000‌

Ultralife

Corp.

†

..................................................

594,440‌

59,012‌

Vishay

Precision

Group

Inc.

†

...........................

2,280,814‌

24,460,641‌

Energy

and

Utilities:

Natural

Gas

—

0

.6

%

9,180‌

Chesapeake

Utilities

Corp.

...............................

1,084,892‌

53,010‌

RGC

Resources

Inc.

...........................................

1,168,871‌

3,500‌

Unitil

Corp.

........................................................

179,760‌

2,433,523‌

Energy

and

Utilities:

Services

—

0

.4

%

205,000‌

Alvopetro

Energy

Ltd.

......................................

1,138,552‌

24,000‌

Dawson

Geophysical

Co.

†

................................

47,040‌

60,000‌

RPC

Inc.

..............................................................

533,400‌

6,500‌

Subsea

7

SA

,

ADR

..............................................

74,296‌

1,793,288‌

Energy

and

Utilities:

Water

—

1

.7

%

34,626‌

Artesian

Resources

Corp.

,

Cl. A

.......................

2,028,391‌

9,500‌

Cadiz

Inc.

†

..........................................................

23,750‌

23,600‌

California

Water

Service

Group

.......................

1,431,104‌

57,600‌

Consolidated

Water

Co.

Ltd.

............................

852,480‌

30,000‌

Energy

Recovery

Inc.

†

.......................................

614,700‌

6,553‌

Middlesex

Water

Co.

.........................................

515,524‌

40,007‌

The

York

Water

Co.

............................................

1,799,515‌

7,265,464‌

Entertainment

—

0

.5

%

108,000‌

Borussia

Dortmund

GmbH

&

Co.

KGaA

†

.......

428,214‌

1,500‌

Canterbury

Park

Holding

Corp.

.......................

46,890‌

28,000‌

GAN

Ltd.

†

..........................................................

42,000‌

534,555‌

Sportech

plc

........................................................

126,019‌

20,000‌

World

Wrestling

Entertainment

Inc.

,

Cl. A

.....

1,370,400‌

2,013,523‌

Environmental

Control

—

0

.9

%

44,200‌

Casella

Waste

Systems

Inc.

,

Cl. A

†

...................

3,505,502‌

Shares

Market

Value

15,000‌

Primo

Water

Corp.

.............................................

$

233,100‌

3,738,602‌

Equipment

and

Supplies

—

5

.6

%

15,200‌

AZZ

Inc.

.............................................................

611,040‌

62,000‌

CIRCOR

International

Inc.

†

..............................

1,485,520‌

159,500‌

Core

Molding

Technologies

Inc.

†

.....................

2,071,905‌

91,000‌

Federal

Signal

Corp.

..........................................

4,228,770‌

50,000‌

Interpump

Group

SpA

......................................

2,256,509‌

233,000‌

Kimball

International

Inc.

,

Cl. B

.......................

1,514,500‌

34,200‌

Maezawa

Kyuso

Industries

Co.

Ltd.

................

238,441‌

295,600‌

The

Eastern

Co.

..................................................

5,699,168‌

86,000‌

The

Gorman-Rupp

Co.

......................................

2,203,320‌

67,500‌

The

L.S.

Starrett

Co.

,

Cl. A

†

...............................

496,800‌

80,000‌

Titan

Machinery

Inc.

†

........................................

3,178,400‌

33,000‌

TransAct

Technologies

Inc.

†

.............................

205,260‌

24,189,633‌

Financial

Services

—

13

.5

%

2,000‌

Ameris

Bancorp

.................................................

94,280‌

22,000‌

Atlantic

American

Corp.

...................................

50,820‌

41,744‌

Atlantic

Union

Bankshares

Corp.

.....................

1,466,884‌

13,800‌

Bank7

Corp.

........................................................

353,280‌

11,275‌

Berkshire

Hills

Bancorp

Inc.

.............................

337,123‌

2,860‌

Burke

&

Herbert

Financial

Services

Corp.

.......

202,202‌

15,240‌

Cadence

Bank

....................................................

375,818‌

79,800‌

Capital

City

Bank

Group

Inc.

...........................

2,593,500‌

8,000‌

Capitol

Federal

Financial

Inc.

...........................

69,200‌

16,560‌

Citizens

&

Northern

Corp.

................................

378,562‌

5,000‌

ConnectOne

Bancorp

Inc.

.................................

121,050‌

28,300‌

Crazy

Woman

Creek

Bancorp

Inc.

...................

676,370‌

21,111‌

Dime

Community

Bancshares

Inc.

...................

671,963‌

1,105‌

Farmers

&

Merchants

Bank

of

Long

Beach

.....

8,248,825‌

40,000‌

Farmers

National

Banc

Corp.

...........................

564,800‌

26,440‌

First

Internet

Bancorp

........................................

641,963‌

379,300‌

Flushing

Financial

Corp.

...................................

7,350,834‌

74,000‌

FNB

Corp.

..........................................................

965,700‌

32,116‌

FS

Bancorp

Inc.

..................................................

1,073,959‌

10‌

Guaranty

Corp.

,

Cl. A

†

......................................

55,000‌

27,300‌

HomeStreet

Inc.

.................................................

752,934‌

9,030‌

Hope

Bancorp

Inc.

.............................................

115,674‌

101,791‌

I3

Verticals

Inc.

,

Cl. A

†

......................................

2,477,593‌

17,000‌

ICC

Holdings

Inc.

†

............................................

264,350‌

61,000‌

KKR

&

Co.

Inc.

...................................................

2,831,620‌

80,700‌

Legacy

Housing

Corp.

†

.....................................

1,530,072‌

700‌

LendingTree

Inc.

†

..............................................

14,931‌

96,324‌

Medallion

Financial

Corp.

................................

687,753‌

4,197‌

Northrim

BanCorp

Inc.

.....................................

229,030‌

19,390‌

OceanFirst

Financial

Corp.

...............................

412,038‌

10,000‌

Pacific

Premier

Bancorp

Inc.

.............................

315,600‌

285,000‌

Post

Holdings

Partnering

Corp.

,

Cl. A

†

...........

2,830,050‌

32,000‌

Primis

Financial

Corp.

.......................................

379,200‌

33,651‌

Renasant

Corp.

...................................................

1,264,941‌

5,978‌

Salisbury

Bancorp

Inc.

.......................................

187,709‌

26,500‌

Sandy

Spring

Bancorp

Inc.

................................

933,595‌

3,000‌

Seacoast

Banking

Corp.

of

Florida

...................

93,570‌

3,600‌

Security

National

Corp.

.....................................

475,236‌

68,700‌

Silvercrest

Asset

Management

Group

Inc.

,

Cl. A

.................................................................

1,289,499‌

6,750‌

Simmons

First

National

Corp.

,

Cl. A

................

145,665‌

75,010‌

Southern

First

Bancshares

Inc.

†

........................

3,431,707‌

4,500‌

Southside

Bancshares

Inc.

.................................

161,955‌

22,700‌

SouthState

Corp.

................................................

1,733,372‌

21,500‌

Sprott

Inc.

...........................................................

715,185‌

TETON

Westwood

Mighty

Mites

Fund

Schedule

of

Investments

(Continued)—December

31,

2022

(Unaudited)

3

Shares

Market

Value

COMMON

STOCKS

(Continued)

Financial

Services

(Continued)

30,000‌

Territorial

Bancorp

Inc.

.....................................

$

720,300‌

5,500‌

Thomasville

Bancshares

Inc.

.............................

364,925‌

5,000‌

Towne

Bank

.......................................................

154,200‌

10,010‌

TrustCo

Bank

Corp.

NY

....................................

376,276‌

8,500‌

United

Bankshares

Inc.

.....................................

344,165‌

51,152‌

Valley

National

Bancorp

...................................

578,529‌

31,800‌

Value

Line

Inc.

...................................................

1,617,984‌

43,900‌

Washington

Trust

Bancorp

Inc.

........................

2,071,202‌

74,800‌

Waterstone

Financial

Inc.

..................................

1,289,552‌

12,002‌

Webster

Financial

Corp.

....................................

568,175‌

84,580‌

Western

New

England

Bancorp

Inc.

................

800,127‌

170,000‌

Wright

Investors'

Service

Holdings

Inc.

†

........

19,975‌

58,470,822‌

Food

and

Beverage

—

2

.3

%

84,600‌

Andrew

Peller

Ltd.

,

Cl. A

..................................

311,783‌

15,000‌

BellRing

Brands

Inc.

†

........................................

384,600‌

1,900‌

Bridgford

Foods

Corp.

†

....................................

22,762‌

49,500‌

Calavo

Growers

Inc.

..........................................

1,455,300‌

136,000‌

Corby

Spirit

and

Wine

Ltd.

,

Cl. A

....................

1,644,254‌

323,700‌

Crimson

Wine

Group

Ltd.

†

..............................

1,815,957‌

414,000‌

Farmer

Brothers

Co.

†

........................................

1,908,540‌

1,550‌

Hanover

Foods

Corp.

,

Cl. A

..............................

77,066‌

300‌

Hanover

Foods

Corp.

,

Cl. B

..............................

16,200‌

21,000‌

Iwatsuka

Confectionery

Co.

Ltd.

......................

688,053‌

1,200‌

J

&

J

Snack

Foods

Corp.

.....................................

179,652‌

1,400‌

John

B

Sanfilippo

&

Son

Inc.

.............................

113,848‌

70,000‌

Premier

Foods

plc

..............................................

91,904‌

1,510‌

Rock

Field

Co.

Ltd.

............................................

17,351‌

4,600‌

Scheid

Vineyards

Inc.

,

Cl. A

†

............................

78,660‌

300‌

Seneca

Foods

Corp.

,

Cl. A

†

...............................

18,285‌

4,000‌

T.

Hasegawa

Co.

Ltd.

........................................

88,875‌

235,200‌

Tingyi

(Cayman

Islands)

Holding

Corp.

.........

415,230‌

207,400‌

Vitasoy

International

Holdings

Ltd.

................

426,733‌

23,000‌

Willamette

Valley

Vineyards

Inc.

†

....................

137,770‌

9,892,823‌

Health

Care

—

6

.0

%

65,000‌

Accuray

Inc.

†

.....................................................

135,850‌

5,700‌

Boiron

SA

...........................................................

309,349‌

35,400‌

Cardiovascular

Systems

Inc.

†

...........................

482,148‌

9,000‌

CareDx

Inc.

†

.......................................................

102,690‌

3,000‌

Collegium

Pharmaceutical

Inc.

†

.......................

69,600‌

7,400‌

Conformis

Inc.

†

..................................................

24,568‌

228,660‌

Cutera

Inc.

†

........................................................

10,111,345‌

35,142‌

Electromed

Inc.

†

................................................

368,640‌

60,500‌

Exelixis

Inc.

†

......................................................

970,420‌

400‌

Heska

Corp.

†

.....................................................

24,864‌

200,000‌

InfuSystem

Holdings

Inc.

†

................................

1,736,000‌

21,730‌

Integer

Holdings

Corp.

†

...................................

1,487,636‌

10,000‌

Invitae

Corp.

†

....................................................

18,600‌

40,000‌

iSpecimen

Inc.

†

..................................................

55,200‌

5,500‌

LeMaitre

Vascular

Inc.

.......................................

253,110‌

212,000‌

Neogen

Corp.

†

...................................................

3,228,760‌

60,500‌

NeoGenomics

Inc.

†

............................................

559,020‌

58,000‌

Neuronetics

Inc.

†

...............................................

398,460‌

6,500‌

Omnicell

Inc.

†

....................................................

327,730‌

190,000‌

OPKO

Health

Inc.

†

............................................

237,500‌

21,000‌

Option

Care

Health

Inc.

†

..................................

631,890‌

60,380‌

Orthofix

Medical

Inc.

†

.......................................

1,239,601‌

34,500‌

Paratek

Pharmaceuticals

Inc.

†

..........................

64,515‌

1,300‌

STERIS

plc

..........................................................

240,097‌

Shares

Market

Value

47,500‌

SurModics

Inc.

†

.................................................

$

1,620,700‌

69,611‌

United-Guardian

Inc.

........................................

723,955‌

1,000‌

Utah

Medical

Products

Inc.

...............................

100,530‌

20,000‌

Zealand

Pharma

A/S

†

........................................

579,835‌

26,102,613‌

Hotels

and

Gaming

—

5

.7

%

22,964‌

Bally's

Corp.

†

.....................................................

445,042‌

19,051‌

Boyd

Gaming

Corp.

...........................................

1,038,851‌

20,500‌

Caesars

Entertainment

Inc.

†

.............................

852,800‌

3,190‌

Churchill

Downs

Inc.

........................................

674,462‌

1,212,119‌

Full

House

Resorts

Inc.

†

....................................

9,115,135‌

180,885‌

Gambling.com

Group

Ltd.

†

..............................

1,655,098‌

20,000‌

Genius

Sports

Ltd.

†

...........................................

71,400‌

121,000‌

Golden

Entertainment

Inc.

†

..............................

4,525,400‌

308,542‌

Inspired

Entertainment

Inc.

†

............................

3,909,227‌

232,000‌

PlayAGS

Inc.

†

....................................................

1,183,200‌

20,000‌

Rush

Street

Interactive

Inc.

†

.............................

71,800‌

72,500‌

The

Marcus

Corp.

..............................................

1,043,275‌

24,585,690‌

Machinery

—

3

.8

%

192,000‌

Astec

Industries

Inc.

..........................................

7,806,720‌

4,400‌

DMG

Mori

AG

...................................................

197,348‌

475,000‌

Gencor

Industries

Inc.

†

.....................................

4,797,500‌

22,650‌

Tennant

Co.

........................................................

1,394,561‌

17,020‌

The

Middleby

Corp.

†

........................................

2,278,978‌

11,100‌

Williams

Industrial

Services

Group

Inc.

†

........

11,323‌

16,486,430‌

Manufactured

Housing

and

Recreational

Vehicles

—

3

.0

%

20,440‌

Cavco

Industries

Inc.

†

.......................................

4,624,550‌

106,250‌

Nobility

Homes

Inc.

..........................................

2,645,625‌

73,500‌

Skyline

Champion

Corp.

†

.................................

3,785,985‌

36,700‌

Winnebago

Industries

Inc.

................................

1,934,090‌

12,990,250‌

Metals

and

Mining

—

0

.1

%

36,000‌

Osisko

Gold

Royalties

Ltd.

...............................

433,914‌

400,000‌

Tanami

Gold

NL

†

..............................................

10,349‌

444,263‌

Paper

and

Forest

Products

—

0

.1

%

26,550‌

Keweenaw

Land

Association

Ltd.

....................

537,638‌

Publishing

—

1

.1

%

6,700‌

DallasNews

Corp.

..............................................

25,728‌

19,500‌

Lee

Enterprises

Inc.

†

.........................................

361,920‌

341,100‌

The

E.W.

Scripps

Co.

,

Cl. A

†

.............................

4,499,109‌

4,886,757‌

Real

Estate

—

3

.6

%

116,000‌

Ambase

Corp.

†

..................................................

8,120‌

116,300‌

Capital

Properties

Inc.

,

Cl. A

............................

1,285,115‌

30,000‌

DREAM

Unlimited

Corp.

,

Cl. A

.......................

563,442‌

19,500‌

FRP

Holdings

Inc.

†

............................................

1,050,270‌

16,138‌

Gyrodyne

LLC

†

.................................................

130,718‌

6,200‌

Holobeam

Inc.

†

..................................................

195,300‌

125,500‌

Indus

Realty

Trust

Inc.

,

REIT

............................

7,967,995‌

283,269‌

Reading

International

Inc.

,

Cl. A

†

....................

784,655‌

74,400‌

Reading

International

Inc.

,

Cl. B

†

.....................

1,476,840‌

2,508‌

Royalty

LLC

†

(a)

.................................................

765‌

98,000‌

Tejon

Ranch

Co.

†

...............................................

1,846,320‌

354,000‌

Trinity

Place

Holdings

Inc.

†

.............................

261,924‌

15,571,464‌

TETON

Westwood

Mighty

Mites

Fund

Schedule

of

Investments

(Continued)—December

31,

2022

(Unaudited)

4

__________

Shares

Market

Value

COMMON

STOCKS

(Continued)

Restaurants

—

3

.5

%

57,000‌

Denny's

Corp.

†

..................................................

$

524,970‌

217,183‌

Nathan's

Famous

Inc.

(b)

...................................

14,596,869‌

15,121,839‌

Retail

—

1

.3

%

16,000‌

Big

5

Sporting

Goods

Corp.

..............................

141,280‌

4,500‌

Ingles

Markets

Inc.

,

Cl. A

..................................

434,070‌

22,000‌

Lands'

End

Inc.

†

................................................

166,980‌

33,000‌

La-Z-Boy

Inc.

......................................................

753,060‌

41,500‌

Movado

Group

Inc.

...........................................

1,338,375‌

16,000‌

Natural

Grocers

by

Vitamin

Cottage

Inc.

........

146,240‌

1,000‌

PetMed

Express

Inc.

..........................................

17,700‌

25,000‌

Sportsman's

Warehouse

Holdings

Inc.

†

..........

235,250‌

111,947‌

Village

Super

Market

Inc.

,

Cl. A

.......................

2,607,246‌

5,840,201‌

Specialty

Chemicals

—

1

.4

%

71,840‌

Hawkins

Inc.

......................................................

2,773,024‌

3,500‌

Minerals

Technologies

Inc.

................................

212,520‌

100,000‌

Navigator

Holdings

Ltd.

†

.................................

1,196,000‌

56,100‌

Neo

Performance

Materials

Inc.

.......................

397,755‌

25,000‌

Teraoka

Seisakusho

Co.

Ltd.

.............................

57,337‌

66,900‌

The

General

Chemical

Group

Inc.

†

(a)

.............

0‌

192,174‌

Treatt

plc

.............................................................

1,452,055‌

6,088,691‌

Telecommunications

—

0

.5

%

56,000‌

A10

Networks

Inc.

.............................................

931,280‌

10,500‌

Frequency

Electronics

Inc.

†

..............................

74,025‌

270,000‌

INNOVATE

Corp.

†

............................................

504,900‌

30,000‌

Nuvera

Communications

Inc.

...........................

525,000‌

2,500‌

Preformed

Line

Products

Co.

...........................

208,225‌

5,000‌

Shenandoah

Telecommunications

Co.

.............

79,400‌

2,322,830‌

Transportation

—

0.0

%

4,800‌

Patriot

Transportation

Holding

Inc.

†

...............

34,128‌

TOTAL

COMMON

STOCKS

.........................

428,714,267‌

PREFERRED

STOCKS

—

0

.2

%

Automotive:

Parts

and

Accessories

—

0

.1

%

18,300‌

Jungheinrich

AG

................................................

520,682‌

Financial

Services

—

0

.1

%

13,815‌

Steel

Partners

Holdings

LP

,

Ser.

A

,

6.000

%

,

02/07/26

...........................................................

317,331‌

TOTAL

PREFERRED

STOCKS

.......................

838,013‌

RIGHTS

—

0

.1

%

Energy

and

Utilities:

Services

—

0

.1

%

85,500‌

Pineapple

Energy

Inc.

,

CVR

†

............................

301,815‌

Health

Care

—

0.0

%

8,000‌

Progenics

Pharmaceuticals

Inc.

,

CVR

†

(a)

........

3,978‌

200,000‌

Teva

Pharmaceutical

Industries

Ltd.

,

CCCP

,

expire

02/20/23

†

(a)

.........................................

0‌

3,978‌

Metals

and

Mining

—

0.0

%

60,000‌

Pan

American

Silver

Corp.

,

CVR

†

....................

34,260‌

TOTAL

RIGHTS

...............................................

340,053‌

Shares

Market

Value

WARRANTS

—

0.0

%

Business

Services

—

0.0

%

1‌

Internap

Corp.

,

expire

05/08/24

†

(a)

..................

$

652‌

Computer

Software

and

Services

—

0.0

%

9,000‌

Otonomo

Technologies

Ltd.

,

expire

08/13/26

†

268‌

Diversified

Industrial

—

0.0

%

47,000‌

Ampco-Pittsburgh

Corp.

,

expire

08/01/25

†

.....

7,403‌

Energy

and

Utilities:

Services

—

0.0

%

7,627‌

Weatherford

International

plc

,

expire

12/13/23

†

.........................................................

1,678‌

Financial

Services

—

0.0

%

95,000‌

Post

Holdings

Partnering

Corp.

,

expire

02/09/23

†

.........................................................

7,600‌

Health

Care

—

0.0

%

8,737‌

Option

Care

Health

Inc.

,

Cl. A

,

expire

07/27/25

†

.........................................................

27,247‌

8,737‌

Option

Care

Health

Inc.

,

Cl. B

,

expire

07/27/25

†

.........................................................

20,196‌

47,443‌

Hotels

and

Gaming

—

0.0

%

3,667‌

Genius

Sports

Ltd.

,

expire

12/31/28

†

................

3,300‌

TOTAL

WARRANTS

.......................................

68,344‌

TOTAL

MISCELLANEOUS

INVESTMENTS

—

0

.9

%

(c)

..........................

3,715,215‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$

267,252,367

)

.........................................

$

433,675,892‌

(a)

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

3

in

the

fair

value

hierarchy.

(b)

Security

considered

an

affiliated

holding

because

the

Fund

owns

at

least

5%

of

its

outstanding

shares.

(c)

Represents

undisclosed,

unrestricted

securities

which

the

Fund

has

held

for

less

than

one

year.

†

Non-income

producing

security.

ADR

American

Depositary

Receipt

CCCP

Contingent

Cash

Consideration

Payment

CVR

Contingent

Value

Right

GDR

Global

Depositary

Receipt

REIT

Real

Estate

Investment

Trust