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, 2015 through June 30, 2016 Company			Mtg	Matter			Who	Mgmt	Vote Symbol/Cusip		Date	Voted On		From	Rec	Cast --------------		----	---------------		----	----	---- Liquidity Servcs	2/25	Election of Directors	Co	FOR	FOR LQDT	53635B107	2/25	Ratify Appt of Accntnts	Co	FOR	FOR 			2/25	Apprv offcr compnsation Co	FOR	FOR Joy Global Inc.		3/08	Election of Directors 	Co	FOR	FOR JOY 481165108	3/08 	Apprv of Incentives	Co	FOR	FOR 			3/08	Ratify Appt of Accntnts	Co	FOR	FOR 			3/08	Apprv offcr compnsation Co	FOR	FOR 			3/08	Board Diversity		Co	AGN	AGN Abercrombie & Fitch Co	4/18	Election of Directors	Co	FOR	FOR ANF 002896207	4/18	Implement Proxy Accss	Co	FOR	FOR 			4/18	Apprv Exec Compnsation	Co	FOR	FOR 			4/18	Apprv Incntv Pln Drctrs Co	FOR	FOR 			4/18	Appr Incntv Pln Assoc	Co	FOR	FOR 			4/18	Apprv PricWatrHousCoopr Co	FOR	FOR 			4/18	Prpsl Accl vesting	Co	AGN	AGN Unisys Corp		4/28	Election of Directors 	Co	FOR	FOR UIS 909214306	4/28	Ratify KPMG Acctnts	Co	FOR	FOR 			4/28	Apprv Exec Compnsation	Co	FOR	FOR 			4/28	Apprv Incentive Plan	Co	FOR	FOR Olin Corp		4/28	Election of Directors 	Co	FOR	FOR OLN 680665205	4/28	Apprv of Incentive Plan	Co	FOR	FOR 			4/28	Apprv offcr compnsation Co	FOR	FOR 			4/28	Ratify Appt of Accntnts	Co	FOR	FOR Skywest Inc		5/03	Election of Directors 	Co	FOR	FOR SKYW 830879102	5/03	Apprv offcr compnsation Co	FOR	FOR 			5/03	Ratify Ernst&Yng Acctnt 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 Dawson Geophysical Co	5/05	Election of Directors	Co	FOR	FOR DWSN 239360100	5/05	Ratify appt RSM Acctnt	Co	FOR	FOR 			5/05	Apprv Incentive Plan	Co	FOR	FOR 			5/05 	Apprv offcr compnsation Co	FOR	FOR ITT Education Ser	3/21	Election of Directors	Co	FOR	FOR ITT	45068B109	3/21	Ratify appt of Deloitte Co	FOR	FOR 			3/21	Apprv offcr compnsation Co	FOR	FOR Hawaiian Holdings	5/18	Election of Directors	Co	FOR	FOR HA	419879101	5/18	Select Ernst&Yng AccntntCo	FOR	FOR 			5/18	Apprv stock incentv pln	Co	FOR	FOR 			5/18	Apprv Exec Compnsation	Co	FOR	FOR Vaalco Energy		6/02	Election of Directors	Co	FOR	FOR EGY	91851C201	6/02	Ratify appt of Deloitte	Co	FOR	FOR 			6/02	Apprv Exec Compnsation	Co	FOR	FOR Express Inc.		6/08	Election of Directors	Co	FOR	FOR EXPR	30219E103	6/08	Apprv Exec Compnsation	Co	FOR	FOR 			6/08	Apprv PricWatrHousCoopr Co	FOR	FOR Marlin Business Servc	6/08	Election of Directors	Co	FOR	FOR MRLN	571157106	6/08	Apprv Exec Compnsation	Co	FOR	FOR 			6/08	Apprv Holder Proxy Acss Co	FOR	FOR 			6/08	Ratify appt of Deloitte	Co	FOR	FOR 			6/08	Transact Other Business	Co	FOR	FOR Tilly's Inc		6/08	Election of Directors	Co	FOR	FOR TLYS	886885102	6/08	Appt BDO USA as acctnt	Co	FOR	FOR Century Aluminum Co	6/27	Election of Directors	Co	FOR	FOR CENX 156431108	6/27	Ratify appt of Deloitte	Co	FOR	FOR 			6/27	Apprv Exec Compnsation	Co	FOR	FOR Guess? Inc		6/30	Election of Directors	Co	FOR	FOR GES	401617105	6/30	Election of Directors	Co	FOR	FOR 			6/30	Ratify Ernst&Yng AccntntCo	FOR	FOR 			6/30	Sr Exec Severance 	Co	AGN	AGN 			6/30	Apprv Proxy Access	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: 07/19/16