UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number:			811-21782 Name of registrant:		Small Cap Value Fund Address:			8150 N. Central Expwy #M1120, Dallas, Texas 75206 Agent for service:		Laura S. Adams (same address) Registrants phone number:	214-360-7410 Date of fiscal year end:	December 31 Reporting period:		June 30, 2014 through June 30, 2015 Company			Mtg	Matter			Who	Mgmt	Vote Symbol/Cusip		Date	Voted On		From	Rec	Cast --------------		----	---------------		----	----	---- ITT Education Ser	12/30	Election of Directors	Co	FOR	FOR ITT	45068B109	12/30	Ratify appt of Deloitte Co	FOR	FOR 			12/30	Apprv offcr compnsation Co	FOR	FOR Liquidity Servcs	2/26	Election of Directors	Co	FOR	FOR LQDT	53635B107	2/26	Ratify Appt of Accntnts	Co	FOR	FOR 			2/26	Apprv offcr compnsation Co	FOR	FOR 			2/26	Apprv incrs number shar Co	FOR	FOR Alon USA Energy		5/05	Election of Directors	Co	FOR	FOR ALJ	020520102	5/05	Ratify Appt of Accntnts Co	FOR	FOR Comstock Resources	5/07	Election of Directors	Co	FOR	FOR CRK	205768203	5/07	Apprv incentive plan	Co	FOR	FOR 			5/07	Ratify Appt of Accntnts	Co	FOR	FOR 			5/07	Apprv offcr compnsation	Co	FOR	FOR 			5/07	SH proposal 5		Co	AGN	AGN 			5/07	SH proposal 6		Co	AGN	AGN Brink's Co		5/08	Election of Directors	Co	FOR	FOR BCO	10969104	5/08	Apprv Exec Compnsation	Co	FOR	FOR 			5/08	Apprv KPMG Accting firm	Co	FOR	FOR 			5/08	Apprv of Article Incorp	Co	FOR	FOR IAMGOLD Inc		5/11	Election of Directors	Co	FOR	FOR IAG	450913108	5/11	Apprv KPMG Accting firm	Co	FOR	FOR 			5/11	Apprv role&comp directr	Co	FOR	FOR Hercules Offshore	5/20	Election of Directors	Co	FOR	FOR HERO	427093109	5/20	Apprv Exec Compnsation Co	FOR	FOR 			5/20	Select Ernst&Yng AccntntCo	FOR	FOR Stone Energy Corp	5/21	Election of Directors	Co	FOR	FOR SGY	861642106	5/21	Select Ernst&Yng AccntntCo	FOR	FOR 			5/21	Incrs authorized shares	Co	FOR	FOR 			5/21	Incrs shares reserve	Co	FOR	FOR 			5/21	Apprv incentive plan	Co	FOR	FOR Hawaiian Holdings	5/21	Election of Directors	Co	FOR	FOR HA	419879101	5/21	Select Ernst&Yng AccntntCo	FOR	FOR 			5/21	Apprv stock incentv pln	Co	FOR	FOR 			5/21	Apprv Exec Compnsation	Co	FOR	FOR Marlin Business Servc	5/21	Election of Directors	Co	FOR	FOR MRLN	571157106	5/21	Apprv Exec Compnsation	Co	FOR	FOR Vaalco Energy		6/03	Election of Directors	Co	FOR	FOR EGY	91851C201	6/03	Ratify Appt of Accntnts	Co	FOR	FOR 			6/03	Apprv Exec Compnsation	Co	FOR	FOR Tilly's Inc		6/10	Election of Directors	Co	FOR	FOR TLYS	886885102	6/10	Appt BDO USA as acctnt	Co	FOR	FOR Express Inc.		6/10	Election of Directors	Co	FOR	FOR EXPR	30219E103	6/10	Apprv Exec Compnsation	Co	FOR	FOR 			6/10	Apprv PricWatrHousCoopr Co	FOR	FOR Guess? Inc		6/22	Election of Directors	Co	FOR	FOR GES	401617105	6/22	Apprv incentv bonus pln Co	FOR	FOR 			6/22	Ratify Ernst&Yng AccntntCo	FOR	FOR 			6/22	Sr Exec Severance 	Co	AGN	AGN -------------------------------------------------------------------------------- SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940 Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) SMALL CAP VALUE FUND Signature and Title By: /s/ Laura S. Adams President Date: 07/31/15