0000902664-11-000950.txt : 20110516 0000902664-11-000950.hdr.sgml : 20110516 20110516161027 ACCESSION NUMBER: 0000902664-11-000950 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110516 DATE AS OF CHANGE: 20110516 EFFECTIVENESS DATE: 20110516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Polar Securities Inc. CENTRAL INDEX KEY: 0001326389 IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-12489 FILM NUMBER: 11846922 BUSINESS ADDRESS: STREET 1: 372 BAY STREET STREET 2: 21ST FLOOR CITY: TORONTO STATE: A6 ZIP: M5H 2W9 BUSINESS PHONE: 416-367-4364 MAIL ADDRESS: STREET 1: 372 BAY STREET STREET 2: 21ST FLOOR CITY: TORONTO STATE: A6 ZIP: M5H 2W9 13F-HR 1 p11-1198form13fhr.txt POLAR SECURITIES INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 ------------------ Check here if Amendment [ ]; Amendment Number: ------- This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Polar Securities Inc. ------------------------------------ Address: 372 Bay Street, 21st Floor ------------------------------------ Toronto, Ontario M5H 2N9 ------------------------------------ Canada ------------------------------------ Form 13F File Number: 028-12489 -------------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Persons Signing this Report on Behalf of Reporting Manager: Name: Robyn Schultz ------------------------------------ Title: Chief Compliance Officer ------------------------------------ Phone: 416-369-4453 ------------------------------------ Signature, Place, and Date of Signing: /s/ Robyn Schultz Toronto, Ontario Canada 5/16/2011 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 115 Form 13F Information Table Value Total: $ 1,206,190 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- ---------------- --------- -------- ------------------- ---------- -------- ---------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ---- 99 CENTS ONLY STORES COM 65440K106 7,770 396,425 SH SOLE 396,425 ACXIOM CORP COM 005125109 6,772 471,900 SH SOLE 471,900 AGILENT TECHNOLOGIES INC COM 00846U101 9,668 215,900 SH SOLE 215,900 ANNALY CAP MGMT INC COM 035710409 262 15,000 SH PUT SOLE 15,000 ANSYS INC COM 03662Q105 9,445 174,300 SH SOLE 174,300 ARMOUR RESIDENTIAL REIT INC *W EXP 11/07/201 042315119 18 305,800 SH SOLE 305,800 ATMEL CORP COM 049513104 1,363 100,000 SH SOLE 100,000 AUSTRALIA ACQUISITION CORP SHS G06368107 5,784 600,000 SH SOLE 600,000 AUSTRALIA ACQUISITION CORP *W EXP 99/99/999 G06368115 191 600,000 SH SOLE 600,000 AVIAT NETWORKS INC COM 05366Y102 4,861 940,294 SH SOLE 940,294 BANK OF AMERICA CORPORATION COM 060505104 6,544 490,900 SH SOLE 490,900 BARRICK GOLD CORP COM 067901108 1,566 24,900 SH SOLE 24,900 BORGWARNER INC NOTE 3.500% 4/1 099724AF3 24,459 10,000,000 PRN SOLE 10,000,000 BOSTON SCIENTIFIC CORP COM 101137107 355 49,400 SH CALL SOLE 49,400 BRAVO BRIO RESTAURANT GROUP COM 10567B109 2,331 131,777 SH SOLE 131,777 BUNGE LIMITED COM G16962105 3,617 50,000 SH PUT SOLE 50,000 CAPITAL GOLD CORP COM NEW 14018Y205 3,855 599,512 SH SOLE 599,512 CAZADOR ACQUISITION CORPORAT SHS G19867103 3,678 380,000 SH SOLE 380,000 CAZADOR ACQUISITION CORPORAT *W EXP 99/99/999 G19867129 171 380,000 SH SOLE 380,000 CBEYOND INC COM 149847105 1,167 100,000 SH SOLE 100,000 CELESTICA INC SUB VTG SHS 15101Q108 19,629 1,831,106 SH SOLE 1,831,106 CHEVRON CORP NEW COM 166764100 13,479 125,400 SH CALL SOLE 125,400 CITIGROUP INC COM 172967101 12,081 2,733,200 SH SOLE 2,733,200 COGNEX CORP COM 192422103 17,437 617,231 SH SOLE 617,231 COMCAST CORP NEW CL A 20030N101 13,013 526,400 SH SOLE 526,400 COMPLETE PRODUCTION SERVICES COM 20453E109 10,424 327,700 SH SOLE 327,700 COTT CORP QUE COM 22163N106 4,393 522,979 SH SOLE 522,979 CVS CAREMARK CORPORATION COM 126650100 13,371 389,600 SH SOLE 389,600 DENDREON CORP NOTE 2.875% 1/1 24823QAC1 8,524 8,000,000 PRN SOLE 8,000,000 DYNEX CAP INC COM NEW 26817Q506 2,229 221,565 SH SOLE 221,565 E M C CORP MASS NOTE 1.750%12/0 268648AM4 34,098 20,000,000 PRN SOLE 20,000,000 ELECTRONICS FOR IMAGING INC COM 286082102 12,801 870,204 SH SOLE 870,204 ENBRIDGE INC COM 29250N105 1,309 21,300 SH SOLE 21,300 ENDO PHARMACEUTICALS HLDGS I NOTE 1.750% 4/1 29264FAB2 25,350 18,000,000 PRN SOLE 18,000,000 ENERNOC INC COM 292764107 3,822 200,000 SH PUT SOLE 200,000 ENSCO PLC SPONSORED ADR 29358Q109 9,711 167,900 SH SOLE 167,900 EQUIFAX INC COM 294429105 24,902 640,972 SH SOLE 640,972 EQUINIX INC NOTE 4.750% 6/1 29444UAH9 10,785 8,000,000 PRN SOLE 8,000,000 FEDEX CORP COM 31428X106 13,284 142,000 SH SOLE 142,000 FEI CO COM 30241L109 4,745 140,704 SH SOLE 140,704 FIDELITY NATL INFORMATION SV COM 31620M106 10,467 320,200 SH SOLE 320,200 FIRST MAJESTIC SILVER CORP COM 32076V103 19,312 909,230 SH SOLE 909,230 FIRSTSERVICE CORP SDCV 6.500%12/3 33761NAA7 8,725 5,900,000 PRN SOLE 5,900,000 FIRSTSERVICE CORP SUB VTG SH 33761N109 2,602 76,458 SH SOLE 76,458 FORD MTR CO DEL NOTE 4.250%11/1 345370CN8 18,156 10,000,000 PRN SOLE 10,000,000 FRONTEER GOLD INC COM 359032109 16,713 1,109,000 SH SOLE 1,109,000 FRONTIER OIL CORP COM 35914P105 1,466 50,000 SH PUT SOLE 50,000 GILDAN ACTIVEWEAR INC COM 375916103 5,336 162,823 SH SOLE 162,823 GOLD RESV INC CL A 38068N108 727 425,133 SH SOLE 425,133 GREAT WOLF RESORTS INC COM 391523107 509 241,200 SH SOLE 241,200 GREEN MTN COFFEE ROASTERS IN COM 393122106 1,938 30,000 SH CALL SOLE 30,000 GROUPE CGI INC CL A SUB VTG 39945C109 41,511 1,983,346 SH SOLE 1,983,346 HALLIBURTON CO COM 406216101 18,815 377,500 SH SOLE 377,500 HEARTWARE INTL INC NOTE 3.500%12/1 422368AA8 5,017 4,500,000 PRN SOLE 4,500,000 HERTZ GLOBAL HOLDINGS INC NOTE 5.250% 6/0 42805TAA3 50,418 25,000,000 PRN SOLE 25,000,000 HUDSON HIGHLAND GROUP INC COM 443792106 8,638 1,328,928 SH SOLE 1,328,928 IAC INTERACTIVECORP COM PAR $.001 44919P508 14,291 462,380 SH SOLE 462,380 IDEX CORP COM 45167R104 14,313 327,900 SH SOLE 327,900 IMPERIAL OIL LTD COM NEW 453038408 2,589 50,700 SH CALL SOLE 50,700 IMRIS INC COM 45322N105 3,397 467,923 SH SOLE 467,923 INTERCONTINENTAL HTLS GRP PL SPONS ADR NEW 45857P301 5,355 258,300 SH SOLE 258,300 INVESCO MORTGAGE CAPITAL INC COM 46131B100 4,311 197,300 SH SOLE 197,300 IRIDIUM COMMUNICATIONS INC COM 46269C102 4,070 510,000 SH SOLE 510,000 ISHARES INC MSCI GERMAN 464286806 1,168 45,000 SH PUT SOLE 45,000 IVANHOE MINES LTD COM 46579N103 10,642 387,544 SH SOLE 387,544 JOY GLOBAL INC COM 481165108 2,016 20,400 SH PUT SOLE 20,400 KINROSS GOLD CORP COM NO PAR 496902404 30,039 1,907,212 SH SOLE 1,907,212 KVH INDS INC COM 482738101 625 41,342 SH SOLE 41,342 LIBERTY GLOBAL INC NOTE 4.500%11/1 530555AB7 43,584 25,650,000 PRN SOLE 25,650,000 LIFE TECHNOLOGIES CORP COM 53217V109 8,859 169,000 SH SOLE 169,000 LINCARE HLDGS INC NOTE 2.750%11/0 532791AF7 8,339 7,000,000 PRN SOLE 7,000,000 LINCOLN ELEC HLDGS INC COM 533900106 7,228 95,200 SH SOLE 95,200 LIQUIDITY SERVICES INC COM 53635B107 1,027 57,519 SH SOLE 57,519 MACYS INC COM 55616P104 10,311 425,000 SH SOLE 425,000 MARKET VECTORS ETF TR JR GOLD MINERS E 57060U589 7,420 189,200 SH CALL SOLE 189,200 MARKET VECTORS ETF TR JR GOLD MINERS E 57060U589 3,922 100,000 SH PUT SOLE 100,000 MASTERCARD INC CL A 57636Q104 17,444 69,300 SH SOLE 69,300 MICROSOFT CORP COM 594918104 13,457 530,000 SH SOLE 530,000 MUELLER INDS INC COM 624756102 8,857 241,853 SH SOLE 241,853 NETAPP INC NOTE 1.750% 6/0 64110DAB0 31,659 20,000,000 PRN SOLE 20,000,000 NILE THERAPEUTICS INC COM 654145101 246 300,000 SH SOLE 300,000 NILE THERAPEUTICS INC *W EXP 99/99/999 654145119 30 90,000 SH SOLE 90,000 NORDSTROM INC COM 655664100 10,371 231,088 SH SOLE 231,088 NOVAGOLD RES INC NOTE 5.500% 5/0 66987EAA5 9,004 6,000,000 PRN SOLE 6,000,000 OIL STS INTL INC NOTE 2.375% 7/0 678026AB1 12,047 5,000,000 PRN SOLE 5,000,000 PACCAR INC COM 693718108 16,944 323,600 SH SOLE 323,600 PENN WEST PETE LTD NEW COM 707887105 8,498 306,800 SH CALL SOLE 306,800 POINTS INTL LTD COM NEW 730843208 2,577 287,300 SH SOLE 287,300 PSS WORLD MED INC COM 69366A100 15,096 556,800 SH SOLE 556,800 QUANTA SVCS INC COM 74762E102 7,406 330,200 SH SOLE 330,200 REPUBLIC SVCS INC COM 760759100 19,855 660,947 SH SOLE 660,947 RESEARCH IN MOTION LTD COM 760975102 18,570 328,432 SH SOLE 328,432 ROADRUNNER TRNSN SVCS HLDG I COM 76973Q105 6,690 446,000 SH SOLE 446,000 RUTHS HOSPITALITY GROUP INC COM 783332109 4,000 775,200 SH SOLE 775,200 SAKS INC COM 79377W108 170 15,000 SH PUT SOLE 15,000 SAVIENT PHARMACEUTICALS INC NOTE 4.750% 2/0 80517QAA8 5,945 5,000,000 PRN SOLE 5,000,000 SILVER WHEATON CORP COM 828336107 49,951 1,152,008 SH SOLE 1,152,008 SIRONA DENTAL SYSTEMS INC COM 82966C103 8,041 160,300 SH SOLE 160,300 SPDR S&P 500 ETF TR TR UNIT 78462F103 39,777 300,000 SH PUT SOLE 300,000 SPDR S&P 500 ETF TR TR UNIT 78462F103 13,259 100,000 SH CALL SOLE 100,000 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 13,564 1,073,084 SH SOLE 1,073,084 SPROTT RESOURCE LENDING CORP COM 85207J100 2,367 1,337,300 SH SOLE 1,337,300 STANTEC INC COM 85472N109 18,817 627,029 SH SOLE 627,029 SXC HEALTH SOLUTIONS CORP COM 78505P100 41,696 760,884 SH SOLE 760,884 TRIANGLE PETE CORP COM NEW 89600B201 5,356 645,285 SH SOLE 645,285 TWO HBRS INVT CORP COM 90187B101 1,885 180,000 SH SOLE 180,000 VELTI PLC ST HELIER SHS G93285107 5,630 447,160 SH SOLE 447,160 VERISK ANALYTICS INC CL A 92345Y106 13,661 417,000 SH SOLE 417,000 VERMILLION INC COM NEW 92407M206 2,193 476,600 SH SOLE 476,600 WENDYS ARBYS GROUP INC COM 950587105 6,568 1,305,700 SH SOLE 1,305,700 WEST MARINE INC COM 954235107 4,341 416,214 SH SOLE 416,214 WESTERN UN CO COM 959802109 8,851 426,140 SH SOLE 426,140 WESTWAY GROUP INC *W EXP 05/24/201 96169B118 32 530,000 SH SOLE 530,000 WET SEAL INC CL A 961840105 4,087 954,800 SH SOLE 954,800 YAMANA GOLD INC COM 98462Y100 14,128 1,147,700 SH SOLE 1,147,700