Billionaire Mario Gabelli’s 10 Small-Cap Stock Picks with Huge Upside Potential

3. Atlanta Braves Holdings Inc. (NASDAQ:BATRK)

GAMCO Investors’ Stake: $92.26 million

Number of Hedge Fund Holders: 37

Market Capitalization as of May 8: $2.52 billion

Average Upside Potential as of May 8: 43.34%

Atlanta Braves Holdings Inc. (NASDAQ:BATRK) owns and operates the Atlanta Braves Major League Baseball Club in the US. It operates through two segments: Baseball and Mixed-Use Development. The mixed-use development business includes services/products like retail, office, hotel, and entertainment operations, primarily within The Battery Atlanta.

This segment generated a revenue of $17.9 million for Atlanta Braves Holdings Inc. (NASDAQ:BATRK) in Q4 2024, which improved by 21% year-over-year. For the full year 2024, Mixed-use development revenue reached $67.3 million, which marked a 14% growth from the $59.0 million in the prior year, due to The Battery Atlanta mixed-use facilities, and includes rental income and parking revenue.

Additionally, the acquisition of the adjacent Pennant Park office complex for an undisclosed amount represents a move to further expand this segment. Pennant Park adds 763,465 square feet of office space across 6 buildings on ~34 acres, which includes over 2,700 parking spaces. With an occupancy rate of over 80% and anchored by strong tenants like The Home Depot (fully leasing two buildings), this acquisition is immediately accretive.