MIGHTY MITES ®

 

The TETON Westwood Mighty Mites Fund seeks to provide long-term capital appreciation by investing primarily in micro-capitalization equity securities.

 

The Fund primarily invests in common stocks of smaller companies that have a market capitalization (defined as shares outstanding times current market price) of $500 million or less at the time of the Fund's initial investment. These companies are called micro-cap companies. The Fund focuses on micro-cap companies which appear to be underpriced relative to their "private market value." Private market value is the value the Adviser believes informed investors would be willing to pay to acquire a company.

 

In selecting stocks, the Adviser attempts to identify companies that have above-average sales and earnings growth prospects; have improving balance sheet fundamentals given the current status of economic and business cycles; are undervalued and may significantly appreciate due to management changes, stock acquisitions, mergers, reorganizations, tender offers, spin-offs or other significant events; and have new or unique products, new or expanding markets, changing competitive or regulatory climates or undervalued assets or franchises.

 

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The Adviser also considers the stocks' prices, the issuers' balance sheet characteristics and the strength of issuers' managements. Micro-cap companies may also be new or unseasoned companies that are in their very early stages of development and companies can also be engaged in new and emerging industries. Micro-cap companies are generally not well-known to investors and have less of an investor following than larger companies. The Adviser will attempt to capitalize on the lack of analyst attention to micro-cap stocks and the inefficiency of the micro-cap market.