Bill Miller Portfolio: 5 Picks From Legendary Value Investor

4. CTO Realty Growth, Inc. (NYSE:CTO)

Number of Hedge Fund Holders: 16

Miller Value Partners’ Stake Value: $7,488,466

CTO Realty Growth, Inc. (NYSE:CTO) is a real estate investment trust specializing in the ownership and management of a collection of premium retail properties, primarily located in rapidly expanding American markets. In Q2 2023, Bill Miller held 436,900 shares of CTO Realty Growth, Inc. (NYSE:CTO) worth nearly $7.5 million. It is one of the top stocks in Bill Miller’s portfolio. 

On October 16, CTO Realty Growth, Inc. (NYSE:CTO) sold the Westcliff Shopping Center in Fort Worth, Texas for $14.8 million, resulting in a 5.2% exit cap rate and a loss of around $0.9 million on the sale. The company plans to use the proceeds to pay down a part of their outstanding balance on their unsecured credit facility.

According to Insider Monkey’s second quarter database, 16 hedge funds held stakes in CTO Realty Growth, Inc. (NYSE:CTO), compared to 15 funds in the prior quarter.