Top 5 Stocks Billionaire Seth Klarman is Selling Off

4. ironSource Ltd. (NYSE:IS)

Net Amount of Shares Baupost Group Sold in Q4: 4.00 million

Number of Hedge Fund Holders: 24

Klarman unloaded 50% of his stake in ironSource Ltd. (NYSE:IS) during the fourth quarter, leaving his fund with even 4 million shares valued at $30.96 million on December 31. Hedge fund ownership of ironsource has fallen by 29% over the past two quarters following the company’s IPO in late Q2.

The Israel-based mobile monetization firm went public after merging with SPAC Thoma Bravo Advantage in a deal that Baupost Group took part in as private investment in public equity (PIPE). Shares of ironSource Ltd. (NYSE:IS) have tumbled by 45% since the company went public.

ironSource Ltd. (NYSE:IS) is a major player in the mobile gaming world, with the company claiming that its platform powers 86% of the top 100 most downloaded mobile games as of Q3 2021. Despite its dominant position in the space, ironsource earned just $0.02 per share in Q4 on $158.3 million in revenue. There is also some investor concern over the possibility that Google will implement iOS-style privacy changes that could impact advertisers like ironsource.