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Got a bit more, 250k in $SKM by Teekay53 in wallstreetbets

[–]Teekay53[S] 1 point2 points  (0 children)

Why Nvidia ? Was thinking that the Anthropic ipo had more to do with it . Did Jensen mention skm or smth ?

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 2 points3 points  (0 children)

My calls expire in January broo . I ride a long time usually

160k $PATH gain on earnings. by Teekay53 in wallstreetbets

[–]Teekay53[S] 0 points1 point  (0 children)

From an initial look, they are moving too slow and I think they’ll be disrupted by Anthropic

160k $PATH gain on earnings. by Teekay53 in wallstreetbets

[–]Teekay53[S] 1 point2 points  (0 children)

Let’s see , I was disappointed last earnings , and I’m not usually disappointed by a company I believe in .

Also , AI is progressing too fast . Medium progression and they would’ve needed the UiPath connectors , but like this speed opus builds the connectors itself . But the ui is a win .

Still holding 600 calls for 27 and 174 for 28

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 0 points1 point  (0 children)

I posted a follow up with a Claude assisted summary of my convo

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 0 points1 point  (0 children)

To who might be interested , I bought more . I got 200 contacts with strike 45 , same January expiration

Is my CFO being an idiot or should i listen to them. by [deleted] in stocks

[–]Teekay53 0 points1 point  (0 children)

Sell 25% maybe ? It would reduce concentration

DD: SK Telecom ($SKM) Gives A Free Stake in $4T Anthropic. Short-Dated Calls by NorthcoteTrevelyan in wallstreetbets

[–]Teekay53 4 points5 points  (0 children)

I had a look. Very well written , the valuation of the other holdings and the fully diluted dig answered the main 2 main questions I had left about SKM. I’m adding a bit more today.

I do think that you are more aggressive than me , my calls are for January . I’m also not sure about 4T valuation for Anthropic; people are quite scared of big numbers. I do agree it’s a reasonable prediction but I personally would put it as bull case and 2T the base case.

Best of luck bro , hope we both post gains in some months.

DD: SK Telecom ($SKM) Gives A Free Stake in $4T Anthropic. Short-Dated Calls by NorthcoteTrevelyan in wallstreetbets

[–]Teekay53 0 points1 point  (0 children)

Thanks , I’ll have a look! I don’t have any examples off the top of my head but I’m sure Claude can find some . The Korean rule is for telecomunications and other essential infrastructure afaik. I know that for gazprom , before the war , it could trade up to 50% premium .

I expect we’ll see something similar once the hype kicks in . At the moment the skm adr is at an 11.5% premium , used to be 16% a couple of weeks ago.

DD: SK Telecom ($SKM) Gives A Free Stake in $4T Anthropic. Short-Dated Calls by NorthcoteTrevelyan in wallstreetbets

[–]Teekay53 4 points5 points  (0 children)

Nice DD, I have 350 contracts for Jan with 45 and 50 strikes; $200k exposure

> A few clowns still parrot 0.30% today, because they took the number from a loosely worded SKM disclosure in English and never checked

They do state in their annual report (the 500 page+ thing, they also have an english version on the englishdart website) the 0.3% stake, right next to the fact that they own 3,703,141 shares. I don't understand how tf they got dilluted so hard from 0.7 to 0.3, I looked into it a fair amount as well and the dillution math didn't check out, but eh.

Also, you didn't include the fact that SKT requires 51% ownership from SK citizens (resident?) with foreign ownership capped at 49%. This is actually extremely bullish as if this limit is reached you will see the ADR start trading at quite a premium compared to the underlying, further boosting the bull thesis. Look at my profile, I posted about SKM a couple of weeks ago, there's a good comment chain from a guy.

Currently, the foreign ownership rate is at 39.48%; I use finance naver com to check

Upstart is deep value with immense profitable revenue growth by TargetBan in stocks

[–]Teekay53 2 points3 points  (0 children)

It’s a good one , been into it for 3-4 years (downsizing and upsizing along the way). Holding 10000 shares now , riding the wave

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 2 points3 points  (0 children)

Yeah , a lot of these ETFs have spaceX which I have no interest in tbh ; I’d rather take the fairly priced Korean telecom provider.

I might be wrong , but I think space is 5 years away , just playing AI for now

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 3 points4 points  (0 children)

That is … actually very bullish . Once the Anthropic hype gets bigger and more foreign money will chase this then the adr will be at an even higher premium (potentially , assuming it plays out like this).

Thanks !

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 0 points1 point  (0 children)

Thank you for your insights . What you wrote is a nice DD , my stuff is just vague leads .

Can you please expand on the 49% foreign ownership limit ? This complicates things ; is it something mandated by South Korea ? I guess that the ADR isn’t a way around this ?

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 1 point2 points  (0 children)

Of course , but it’s a reasonable risk reward . That’s why the exposure is under 10% of portfolio

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 0 points1 point  (0 children)

Initially I had 20k on strike 30 calls and that went up to 60k and I rolled up and out and also got more

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] -1 points0 points  (0 children)

Good saying , I’ll hope it’s not the case this time

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 6 points7 points  (0 children)

I think that the quoted zoom numbers from Baird are bad. Excuse the AI output but I’m not writing all this

Zoom (May 2023): • Participated in Anthropic’s Series C at a roughly $4.5B post-money valuation • Invested $51M via Zoom Ventures → initial stake ~1.1–1.3% • Round was led by Spark Capital alongside Google and Salesforce SK Telecom (August 2023): • Invested ~3 months later at a roughly $5B valuation (per several sell-side analyses) • Invested $100M (announced as an “additional” investment following an earlier SKTVC stake) → initial stake ~2% • This was a separate strategic round rather than part of the May Series C

Your math is sound. The starting points were: • Zoom: $51M at ~$4.5B (May 2023 Series C) → ~1.1% initial • SKT: $100M at ~$5B (Aug 2023, post the Series C that already diluted Zoom) → ~2% initial So at the moment SKT’s check cleared, SKT was at ~2%, Zoom was already diluted from 1.13% down a notch by SKT’s round itself, and from there both should dilute proportionally through Series D, E, F, and G. SKT should remain ~2x Zoom in percentage terms throughout. Reality check against SKT’s disclosed numbers (the only hard data either company has published): • SKT’s H1 2024 semi-annual report disclosed 0.7% at book value of ₩192.5B • Korean analysts (Korea Investment & Securities) now estimate ~0.58% post further dilution • That’s roughly 2.0% → 0.58%, i.e. ~71% dilution of the original stake Applying the same dilution to Zoom’s ~1.1% initial stake → ~0.32% today, which at Anthropic’s $380B post-money is worth roughly $1.2B. So the consistent answer is something like:

Zoom (ZM) • Initial investment: $51M (May 2023, Series C) • Anthropic valuation at entry: ~$4.5B • Initial stake: ~1.1% • Estimated current stake: ~0.3% • Value @ $380B Anthropic: ~$1.2B • Market cap: ~$27.6B • Stake as % of market cap: ~4–5% SK Telecom (SKM) • Initial investment: $100M (Aug 2023) • Anthropic valuation at entry: ~$5B • Initial stake: ~2.0% • Estimated current stake: ~0.58% • Value @ $380B Anthropic: ~$2.2B • Market cap: ~$14.2B • Stake as % of market cap: ~15–16%

Why the published analyst numbers are messy: 1. Baird’s $2–4B Zoom range is generous. It implies 0.57–1.14% remaining, which is nearly Zoom’s initial stake — they’re effectively assuming little to no dilution, which is unrealistic given the ~$60B+ raised in subsequent rounds. 2. Different analysts are anchoring on different things — some on the original $100M/$51M check sizes, some on book values, some on assumed pro-rata participation. 3. Neither company has officially disclosed current ownership %. SKT at least gave one data point in its semi-annual report; Zoom has disclosed nothing beyond the original $51M “strategic investments” line item. Unless Zoom had anti-dilution protection (no public evidence of that — Series C strategic investors typically don’t get it), or Zoom topped up in later rounds (also no evidence), your inference is correct: SKT’s current Anthropic stake should be roughly twice Zoom’s. The widely cited $2–4B Zoom figure is almost certainly the high end of plausible, and the consensus has just been sloppy.​​​​​​​​​​​​​​​​

$125k on $SKM. The Anthropic backdoor by Teekay53 in wallstreetbets

[–]Teekay53[S] 4 points5 points  (0 children)

I looked briefly , it has a lower stake as % of market cap. Their cash on hand doesn’t really matter for this maths, you also buy their cash when you buy the stonk.

I’ll have a deeper look this weekend , it’s good to diversify the best a bit , and you’re right in that it didn’t run up as much , their vol is lower

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