Statement of Additional Info - Gabelli

TETON Westwood Balanced Fund Class AAA 0.25% N/A
Class A 0.50% N/A
Class C 0.75% 0.25%
Class I N/A N/A
TETON Westwood Intermediate
Bond Fund Class AAA 0.25% N/A
Class A 0.35% N/A
Class C 0.75% 0.25%
Class I N/A N/A
Pursuant to the Plans, the Funds pay the Distributor 0.25% and 0.50% (0.35% for Intermediate Bond Fund) of the
average daily net assets of Class AAA Shares and Class A Shares and 1.00% of the average daily net assets of Class
C Shares. Due to the possible continuing nature of Rule 12b-1 payments, long term investors may pay more than the
economic equivalent of the maximum front-end sales charge permitted by FINRA.
Distribution Expenses
Incurred for the Fiscal Year Ended September 30, 2013
Class AAA Class A Class C
Mighty Mites $854,586 $481,730 $1,148,673
SmallCap Equity $41,288 $24,393 $44,861
Mid-Cap Equity $377 $32 $42
Income $14,513 $2,976 $12,124
Equity $162,280 $16,573 $7,599
Balanced $190,507 $27,838 $53,646
Intermediate Bond $25,095 $5,867 $12,723
During the fiscal year ended September 30, 2013, the Funds paid total distribution expenses under the Rule 12b-1 Plans
then in effect of $3,127,855 to the Distributor. The Plans compensate the Distributor regardless of its expense. For the
fiscal year ended September 30, 2013, the Distributor identified expenditures of approximately $52,700 for advertising
and promotion, $25,200 for printing, postage and stationery, $13,000 for overhead support expenses, $682,700 for
salaries of personnel of the Distributor, $2,642,800 for third party servicing fees, and $261,800 for advanced
commissions.
The amounts included in the previous paragraph as third-party servicing fees include amounts paid to the providers of
various programs that make shares available to their customers. Subject to tax limitations and approvals by the Board on
a Fund-by-Fund basis, each of the Funds also makes payments to the providers of these programs, out of its assets other
than 12b-1 payments, in amounts not greater than savings of expenses the Fund would otherwise incur in maintaining
shareholder accounts for those who invest in the Funds directly rather than through these programs. The Adviser and its
affiliates may also pay for all or a portion of these program’s charges out of their financial resources other than 12b-1
fees.
Pursuant to the Distribution Agreement, the Trust appoints the Distributor as its general distributor and exclusive agent
for the sale of the Funds’ shares. The Trust has agreed to indemnify the Distributor to the extent permitted by applicable
law against certain liabilities under the federal securities laws. The Distribution Agreement shall remain in effect from
year to year provided that the continuance of such agreement shall be approved at least annually (a) by the Trust's Board,
including a vote of a majority of the Independent Trustees cast in person at a meeting called for the purpose of voting on
such approval or (b) by the vote of the holders of a majority of the outstanding voting securities of the Trust and by a vote
of the Board. The Distribution Agreement may be terminated by either party thereto upon sixty days' written notice.
Shares of the Funds may also be purchased through shareholder agents that are not affiliated with the Funds or the
Distributor. There is no sales or service charge imposed by the Funds other than as described in the Prospectus for Class
A, Class C, and Class I Shares under the "Classes of Shares" section, but agents who do not receive distribution payments
or sales charges may impose a charge to the investor for their services. Such fees may vary among agents, and such
agents may impose higher initial or subsequent investment requirements than those established by the Funds. Services
provided by broker-dealers may include allowing the investor to establish a margin account and to borrow on the value of
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