TETON Westwood Mighty Mites Fund

The TETON Westwood Mighty Mites Fund concentrates its investments primarily in the stock of smaller enterprises. These selected companies must possess a market valuation of $500 million or less when their shares are initially acquired by the fund. A central part of the fund's strategy is to pinpoint micro-capitalization firms that appear to be undervalued relative to their "private market value." This "private market value" is determined by the sub-adviser and represents the price that knowledgeable investors would presumably be willing to pay to purchase the entire company. Additionally, the fund retains the option to allocate up to 25% of its total holdings to non-U.S. securities, including foreign equities, European Depositary Receipts (EDRs), and American Depositary Receipts (ADRs).