TETON
Westwood
Balanced
Fund
Schedule
of
Investments—June
30,
2023
(Unaudited)
1
ap
Shares
Market
Value
COMMON
STOCKS
—
63.1%
Air
Freight
and
Logistics
—
1.3%
1,968
FedEx
Corp.
.......................................................
$
487,867
Automotive:
Parts
and
Accessories
—
0.7%
285
O'Reilly
Automotive
Inc.†
.................................
272,261
Banking
—
1.5%
20,263
Bank
of
America
Corp.
......................................
581,345
Business
Services
—
1.7%
2,745
Visa
Inc.,
Cl. A
....................................................
651,883
Commercial
Services
and
Supplies
—
0.6%
1,343
Waste
Management
Inc.
....................................
232,903
Computer
Hardware
—
1.5%
3,057
Apple
Inc.
...........................................................
592,966
Computer
Software
and
Services
—
6.7%
1,534
Accenture
plc,
Cl. A
...........................................
473,362
3,889
Alphabet
Inc.,
Cl. A†
.........................................
465,513
1,955
CACI
International
Inc.,
Cl. A†
.........................
666,342
1,171
Cadence
Design
Systems
Inc.†
.........................
274,623
2,125
Microsoft
Corp.
..................................................
723,648
2,603,488
Consumer
Products
—
2.6%
6,172
Church
&
Dwight
Co.
Inc.
................................
618,620
1,904
The
Estee
Lauder
Companies
Inc.,
Cl. A
..........
373,907
992,527
Consumer
Services
—
1.0%
2,959
Amazon.com
Inc.†
.............................................
385,735
Diversified
Industrial
—
3.0%
2,669
Eaton
Corp.
plc
..................................................
536,736
2,974
Honeywell
International
Inc.
............................
617,105
1,153,841
Electronics
—
1.9%
5,827
Microchip
Technology
Inc.
................................
522,041
363
Monolithic
Power
Systems
Inc.
........................
196,103
718,144
Energy
and
Energy
Services
—
0.8%
2,663
EOG
Resources
Inc.
...........................................
304,754
Energy:
Integrated
—
2.6%
2,574
DTE
Energy
Co.
.................................................
283,192
3,715
NextEra
Energy
Inc.
..........................................
275,653
5,017
WEC
Energy
Group
Inc.
...................................
442,700
1,001,545
Energy:
Oil
—
3.1%
3,143
Chevron
Corp.
...................................................
494,551
2,603
ConocoPhillips
...................................................
269,697
4,003
Exxon
Mobil
Corp.
............................................
429,322
1,193,570
Equipment
and
Supplies
—
1.7%
2,373
Amphenol
Corp.,
Cl. A
.....................................
201,586
1,874
Danaher
Corp.
...................................................
449,760
651,346
Financial
Services
—
8.8%
11,144
American
International
Group
Inc.
..................
641,226
Shares
Market
Value
2,089
Arthur
J.
Gallagher
&
Co.
.................................
$
458,682
1,475
Berkshire
Hathaway
Inc.,
Cl. B†
.......................
502,975
3,262
JPMorgan
Chase
&
Co.
......................................
474,425
1,294
The
Goldman
Sachs
Group
Inc.
........................
417,367
3,318
The
Progressive
Corp.
.......................................
439,204
11,195
Wells
Fargo
&
Co.
..............................................
477,802
3,411,681
Food
and
Beverage
—
1.6%
2,716
McCormick
&
Co.
Inc.,
Non-Voting
.................
236,917
1,952
PepsiCo
Inc.
........................................................
361,549
598,466
Health
Care
—
8.6%
4,189
Abbott
Laboratories
...........................................
456,685
2,648
Becton
Dickinson
&
Co.
....................................
699,098
6,029
Gilead
Sciences
Inc.
...........................................
464,655
989
HCA
Healthcare
Inc.
.........................................
300,142
4,790
Johnson
&
Johnson
............................................
792,841
1,221
UnitedHealth
Group
Inc.
..................................
586,861
3,300,282
Real
Estate
—
4.3%
3,288
Prologis
Inc.,
REIT
.............................................
403,207
1,515
Public
Storage,
REIT
..........................................
442,198
7,400
Ventas
Inc.,
REIT
................................................
349,798
15,036
VICI
Properties
Inc.,
REIT
.................................
472,582
1,667,785
Retail
—
5.2%
2,183
Dollar
General
Corp.
.........................................
370,630
1,452
Domino's
Pizza
Inc.
...........................................
489,309
1,532
The
Home
Depot
Inc.
........................................
475,901
4,222
Walmart
Inc.
.......................................................
663,614
1,999,454
Semiconductors
—
0.7%
643
NVIDIA
Corp.
....................................................
272,002
Telecommunications
—
2.3%
21,539
AT&T
Inc.
...........................................................
343,547
1,868
Motorola
Solutions
Inc.
.....................................
547,847
891,394
Transportation
—
0.9%
1,747
Union
Pacific
Corp.
............................................
357,471
TOTAL
COMMON
STOCKS
.........................
24,322,710
Principal
Amount
CORPORATE
BONDS
—
29.4%
Aerospace
—
0.6%
$
255,000
AerCap
Ireland
Capital
DAC
/
AerCap
Global
Aviation
Trust,
4.450%,
10/01/25
..............................................
245,398
Banking
—
1.8%
750,000
Fifth
Third
Bancorp,
2.375%,
01/28/25
..............................................
702,158
Computer
Hardware
—
0.8%
295,000
Dell
International
LLC
/
EMC
Corp.,
5.750%,
02/01/33
..............................................
297,792
TETON
Westwood
Balanced
Fund
Schedule
of
Investments
(Continued)—June
30,
2023
(Unaudited)
2
Principal
Amount
Market
Value
CORPORATE
BONDS
(Continued)
Computer
Software
and
Services
—
1.1%
Oracle
Corp.
$
240,000
6.250%,
11/09/32
..............................................
$
254,784
135,000
6.900%,
11/09/52
..............................................
151,087
405,871
Consumer
Products
—
0.5%
200,000
G-III
Apparel
Group
Ltd.,
7.875%,
08/15/25
..............................................
193,700
Diversified
Industrial
—
1.7%
510,000
Cabot
Corp.,
4.000%,
07/01/29
..............................................
470,400
191,000
Jabil
Inc.,
1.700%,
04/15/26
..............................................
170,930
641,330
Energy
and
Energy
Services
—
1.9%
Energy
Transfer
LP
330,000
7.125%,
(a)
.......................................................
280,639
235,000
6.250%,
04/15/49
..............................................
229,196
260,000
Plains
All
American
Pipeline
LP
/
PAA
Finance
Corp.,
3.800%,
09/15/30
..............................................
230,797
740,632
Energy:
Oil
—
2.3%
10,000
Civitas
Resources
Inc.,
8.375%,
07/01/28
..............................................
10,115
95,000
Diamondback
Energy
Inc.,
6.250%,
03/15/33
..............................................
98,279
275,000
MPLX
LP,
2.650%,
08/15/30
..............................................
230,113
395,000
Petroleos
Mexicanos,
6.700%,
02/16/32
..............................................
300,736
259,000
Piedmont
Natural
Gas
Co.
Inc.,
5.050%,
05/15/52
..............................................
233,530
872,773
Financial
Services
—
6.6%
210,000
Ally
Financial
Inc.,
(U.S.
Secured
Overnight
Financing
Rate
+
3.26%),
6.992%,
06/13/29(a)
.........................................
207,525
138,000
American
Honda
Finance
Corp.,
MTN,
1.000%,
09/10/25
..............................................
125,926
500,000
Bank
of
America
Corp.,
(U.S.
Secured
Overnight
Financing
Rate
+
1.21%),
2.572%,
10/20/32(a)
.........................................
407,021
500,000
Bank
of
Montreal,
MTN,
2.650%,
03/08/27
..............................................
457,835
500,000
Citigroup
Inc.,
(U.S.
Secured
Overnight
Financing
Rate
+
1.28%),
3.070%,
02/24/28(a)
.........................................
459,990
370,000
HSBC
Holdings
plc,
(U.S.
Secured
Overnight
Financing
Rate
+
3.03%),
7.336%,
11/03/26(a)
.........................................
380,893
175,000
Lincoln
National
Corp.,
3.400%,
03/01/32
..............................................
140,986
405,000
Owl
Rock
Capital
Corp.,
3.400%,
07/15/26
..............................................
358,912
2,539,088
Principal
Amount
Market
Value
Food
and
Beverage
—
0.7%
$
380,000
The
J.M.
Smucker
Co.,
3.550%,
03/15/50
..............................................
$
279,087
Health
Care
—
2.0%
450,000
Aetna
Inc.,
3.500%,
11/15/24
..............................................
436,104
375,000
Amgen
Inc.,
2.200%,
02/21/27
..............................................
340,769
776,873
Real
Estate
—
2.9%
150,000
Brixmor
Operating
Partnership
LP,
2.250%,
04/01/28
..............................................
126,180
200,000
Iron
Mountain
Inc.,
5.000%,
07/15/28
..............................................
185,475
355,000
Kimco
Realty
OP
LLC,
4.600%,
02/01/33
..............................................
328,329
250,000
MPT
Operating
Partnership
LP
/
MPT
Finance
Corp.,
4.625%,
08/01/29
..............................................
189,282
265,000
Realty
Income
Corp.,
2.850%,
12/15/32
..............................................
215,832
113,000
Vornado
Realty
LP,
3.400%,
06/01/31
..............................................
81,950
1,127,048
Retail
—
2.6%
151,000
7-Eleven
Inc.,
0.950%,
02/10/26
..............................................
134,928
200,000
AutoZone
Inc.,
1.650%,
01/15/31
..............................................
156,116
800,000
CVS
Health
Corp.,
3.250%,
08/15/29
..............................................
718,601
1,009,645
Semiconductors
—
1.3%
235,000
Broadcom
Inc.,
4.150%,
11/15/30
..............................................
216,216
275,000
NXP
BV
/
NXP
Funding
LLC
/
NXP
USA
Inc.,
5.000%,
01/15/33
..............................................
264,055
480,271
Telecommunications
—
0.4%
270,000
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
Corp.,
3.700%,
04/01/51
..............................................
170,576
Transportation
—
2.2%
875,000
AP
Moller
-
Maersk
A/S,
4.500%,
06/20/29
..............................................
841,630
TOTAL
CORPORATE
BONDS
.......................
11,323,872
CONVERTIBLE
CORPORATE
BONDS
—
1.7%
Computer
Software
and
Services
—
0.8%
350,000
Splunk
Inc.,
1.125%,
06/15/27
..............................................
303,625
TETON
Westwood
Balanced
Fund
Schedule
of
Investments
(Continued)—June
30,
2023
(Unaudited)
3
__________
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
(Continued)
Health
Care
—
0.9%
$
325,000
Exact
Sciences
Corp.,
0.375%,
03/15/27
..............................................
$
350,797
TOTAL
CONVERTIBLE
CORPORATE
BONDS
...........................................................
654,422
U.S.
GOVERNMENT
OBLIGATIONS
—
5.2%
U.S.
Treasury
Bonds
—
4.8%
450,000
2.500%,
02/15/45
..............................................
347,915
700,000
2.500%,
05/15/46
..............................................
537,592
350,000
2.250%,
08/15/46
..............................................
255,308
350,000
1.875%,
02/15/51
..............................................
231,458
70,000
2.250%,
02/15/52
..............................................
50,522
505,000
3.000%,
08/15/52
..............................................
428,806
1,851,601
U.S.
Treasury
Notes
—
0.4%
165,000
4.125%,
11/15/32
..............................................
168,532
168,532
TOTAL
U.S.
GOVERNMENT
OBLIGATIONS
.............................................
2,020,133
Shares
SHORT
TERM
INVESTMENT
—
0.6%
Other
Investment
Companies
—
0.6%
238,945
Dreyfus
Treasury
Securities
Cash
Management,
4.960%*
....................................
238,945
TOTAL
INVESTMENTS
—
100.0%
(Cost
$37,292,467)
...........................................
$
38,560,082
†
Non-income
producing
security.
(a)
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,
2023.
*
1
day
yield
as
of
June
30,
2023.
MTN
Medium
Term
Note
REIT
Real
Estate
Investment
Trust