0000902664-12-000412.txt : 20120214 0000902664-12-000412.hdr.sgml : 20120214 20120214153549 ACCESSION NUMBER: 0000902664-12-000412 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 EFFECTIVENESS DATE: 20120214 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: 12608917 BUSINESS ADDRESS: STREET 1: 401 BAY STREET STREET 2: SUITE 1900, P.O. BOX 19 CITY: TORONTO STATE: A6 ZIP: M5H 2Y4 BUSINESS PHONE: 416-367-4364 MAIL ADDRESS: STREET 1: 401 BAY STREET STREET 2: SUITE 1900, P.O. BOX 19 CITY: TORONTO STATE: A6 ZIP: M5H 2Y4 13F-HR 1 p12-0416form13fhr.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: December 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: 401 Bay Street, Suite 1900, PO Box 19 -------------------------------------------------- Toronto, Ontario M5H 2Y4 -------------------------------------------------- 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. Person 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 2/14/12 ------------------------ ------------------------------ ---------- 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).) Report Summary: Number of Other Included Managers: 0 ------------- Form 13F Information Table Entry Total: 118 ------------- Form 13F Information Table Value Total: $1,230,750 ------------- (thousands) List of Other Included Managers: NONE Provide a numbered list of the name(s) and Form 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 ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- --------- ------ ---- ABBOTT LABS COM 002824100 6,258 111,300 SH CALL SOLE 0 0 0 ALLIANCE DATA SYSTEMS CORP NOTE 4.750% 5/1 018581AC2 45,188 20,000,000 PRN SOLE 0 0 0 ARMOUR RESIDENTIAL REIT INC *W EXP 11/07/201 042315119 4 305,800 SH SOLE 305,800 0 0 AUSTRALIA ACQUISITION CORP SHS G06368107 8,356 850,000 SH SOLE 850,000 0 0 AUTOZONE INC COM 053332102 520 1,600 SH CALL SOLE 0 0 0 AVIAT NETWORKS INC COM 05366Y102 1,811 989,694 SH SOLE 989,694 0 0 BANK NOVA SCOTIA HALIFAX COM 064149107 3,546 71,200 SH SOLE 71,200 0 0 BANK OF AMERICA CORPORATION COM 060505104 8,340 1,500,000 SH CALL SOLE 0 0 0 BARRICK GOLD CORP COM 067901108 10,698 236,424 SH SOLE 236,424 0 0 BCE INC COM NEW 05534B760 6,251 150,000 SH PUT SOLE 150,000 0 0 BIOMARIN PHARMACEUTICAL INC NOTE 1.875% 4/2 09061GAD3 21,345 11,975,000 PRN SOLE 0 0 0 BLUE WOLF MONGOLIA HOLDINGS SHS G11962100 3,367 350,000 SH SOLE 350,000 0 0 BROADCOM CORP CL A 111320107 6,048 206,000 SH SOLE 206,000 0 0 BROOKDALE SR LIVING INC NOTE 2.750% 6/1 112463AA2 1,733 2,000,000 PRN SOLE 0 0 0 BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 4,860 622,252 SH SOLE 622,252 0 0 BRUNSWICK CORP COM 117043109 19,016 1,052,951 SH SOLE 1,052,951 0 0 CASELLA WASTE SYS INC CL A 147448104 6,440 1,006,239 SH SOLE 1,006,239 0 0 CAZADOR ACQUISITION CORPORAT SHS G19867103 5,477 560,000 SH SOLE 560,000 0 0 CELESTICA INC SUB VTG SHS 15101Q108 10,886 1,485,141 SH SOLE 1,485,141 0 0 CHESAPEAKE ENERGY CORP NOTE 2.750%11/1 165167BW6 14,728 15,000,000 PRN SOLE 0 0 0 CHINA GROWTH EQUITY INV LTD SHS G2114K107 5,718 600,000 SH SOLE 600,000 0 0 CHINA GROWTH EQUITY INV LTD *W EXP 99/99/999 G2114K123 43 94,500 SH SOLE 94,500 0 0 CHINA METRO-RURAL HLDGS LTD SHS G3163G104 94 104,000 SH SOLE 104,000 0 0 CISCO SYS INC COM 17275R102 12,963 717,000 SH SOLE 717,000 0 0 COLDWATER CREEK INC COM 193068103 3,894 3,300,000 SH SOLE 3,300,000 0 0 COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 2,378 65,900 SH CALL SOLE 0 0 0 CORELOGIC INC COM 21871D103 7,361 569,300 SH SOLE 569,300 0 0 COSTAMARE INC SHS Y1771G102 3,247 229,278 SH SOLE 229,278 0 0 COTT CORP QUE COM 22163N106 3,274 522,979 SH SOLE 522,979 0 0 CUBIST PHARMACEUTICALS INC NOTE 2.500%11/0 229678AD9 22,386 15,000,000 PRN SOLE 0 0 0 CURRENCYSHARES CDN DLR TR CDN DOLLAR SHS 23129X105 14,028 143,700 SH CALL SOLE 0 0 0 CURRENCYSHARES EURO TR EURO SHS 23130C108 12,892 100,000 SH CALL SOLE 0 0 0 DENTSPLY INTL INC NEW COM 249030107 17,297 494,333 SH SOLE 494,333 0 0 DISNEY WALT CO COM DISNEY 254687106 14,153 377,400 SH SOLE 377,400 0 0 DST SYS INC DEL COM 233326107 11,344 249,200 SH SOLE 249,200 0 0 DUN & BRADSTREET CORP DEL NE COM 26483E100 6,690 89,400 SH SOLE 89,400 0 0 E M C CORP MASS NOTE 1.750%12/0 268648AM4 28,722 20,000,000 PRN SOLE 0 0 0 EBAY INC COM 278642103 16,964 559,300 SH SOLE 559,300 0 0 ELECTRONICS FOR IMAGING INC COM 286082102 14,115 990,518 SH SOLE 990,518 0 0 ENDO PHARMACEUTICALS HLDGS I NOTE 1.750% 4/1 29264FAB2 26,163 20,000,000 PRN SOLE 0 0 0 EQUIFAX INC COM 294429105 13,424 346,519 SH SOLE 346,519 0 0 EQUINIX INC NOTE 4.750% 6/1 29444UAH9 16,559 11,730,000 PRN SOLE 0 0 0 EQUINIX INC NOTE 3.000%10/1 29444UAG1 13,516 12,079,000 PRN SOLE 0 0 0 EXXON MOBIL CORP COM 30231G102 8,476 100,000 SH CALL SOLE 0 0 0 FIDELITY NATL INFORMATION SV COM 31620M106 19,375 728,642 SH SOLE 728,642 0 0 FIRST MAJESTIC SILVER CORP COM 32076V103 22,384 1,329,200 SH SOLE 1,329,200 0 0 FIRSTSERVICE CORP SUB VTG SH 33761N109 6,574 248,158 SH SOLE 248,158 0 0 FIRSTSERVICE CORP SDCV 6.500%12/3 33761NAA7 20,754 18,424,000 PRN SOLE 0 0 0 FORTUNE BRANDS HOME & SEC IN COM 34964C106 1,703 100,000 SH SOLE 100,000 0 0 GLOBAL EAGLE ACQUISITION COR COM 37951D102 5,341 556,023 SH SOLE 556,023 0 0 GOOGLE INC CL A 38259P508 14,404 22,300 SH SOLE 22,300 0 0 GROUPE CGI INC CL A SUB VTG 39945C109 39,002 2,069,046 SH SOLE 2,069,046 0 0 HALLIBURTON CO COM 406216101 10,436 302,400 SH SOLE 302,400 0 0 HARMONIC INC COM 413160102 4,713 935,100 SH SOLE 935,100 0 0 HEARTWARE INTL INC NOTE 3.500%12/1 422368AA8 4,642 4,500,000 PRN SOLE 0 0 0 HERTZ GLOBAL HOLDINGS INC NOTE 5.250% 6/0 42805TAA3 35,147 22,500,000 PRN SOLE 0 0 0 HUDSON HIGHLAND GROUP INC COM 443792106 5,810 1,213,014 SH SOLE 1,213,014 0 0 IAC INTERACTIVECORP COM PAR $.001 44919P508 15,993 375,413 SH SOLE 375,413 0 0 IDEX CORP COM 45167R104 4,104 110,592 SH SOLE 110,592 0 0 IMRIS INC COM 45322N105 3,328 1,232,743 SH SOLE 1,232,743 0 0

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 ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- --------- ------ ---- ISHARES SILVER TRUST ISHARES 46428Q109 3,960 147,000 SH SOLE 147,000 0 0 IVANHOE MINES LTD COM 46579N103 6,867 387,544 SH SOLE 387,544 0 0 KNIGHT CAP GROUP INC NOTE 3.500% 3/1 499005AE6 11,148 12,500,000 PRN SOLE 0 0 0 KVH INDS INC COM 482738101 1,667 214,291 SH SOLE 214,291 0 0 LATTICE SEMICONDUCTOR CORP COM 518415104 8,204 1,381,075 SH SOLE 1,381,075 0 0 LINCARE HLDGS INC NOTE 2.750%11/0 532791AF7 19,114 17,500,000 PRN SOLE 0 0 0 LIZ CLAIBORNE INC COM 539320101 10,654 1,234,500 SH SOLE 1,234,500 0 0 LIZ CLAIBORNE INC COM 539320101 1,295 150,000 SH PUT SOLE 150,000 0 0 LSI CORPORATION COM 502161102 6,726 1,130,400 SH SOLE 1,130,400 0 0 MARTEN TRANS LTD COM 573075108 907 50,425 SH SOLE 50,425 0 0 MICROSOFT CORP COM 594918104 15,246 587,300 SH SOLE 587,300 0 0 MOHAWK INDS INC COM 608190104 7,835 130,903 SH SOLE 130,903 0 0 MOVE INC COM NEW ADDED COM NEW 62458M207 12,978 2,053,438 SH SOLE 2,053,438 0 0 NAUTILUS MARINE ACQUISIT COR SHS Y6255E101 4,563 476,299 SH SOLE 476,299 0 0 NAUTILUS MARINE ACQUISIT COR *W EXP 06/17/201 Y6255E119 120 400,000 SH SOLE 400,000 0 0 NETAPP INC NOTE 1.750% 6/0 64110DAB0 37,819 30,000,000 PRN SOLE 0 0 0 NEVADA GOLD & CASINOS INC COM NEW 64126Q206 171 148,470 SH SOLE 148,470 0 0 NOVAGOLD RES INC NOTE 5.500% 5/0 66987EAA5 8,375 7,500,000 PRN SOLE 0 0 0 OIL STS INTL INC NOTE 2.375% 7/0 678026AB1 12,056 5,000,000 PRN SOLE 0 0 0 OPEN TEXT CORP COM 683715106 3,899 76,251 SH SOLE 76,251 0 0 OPNEXT INC COM 68375V105 1,537 1,903,048 SH SOLE 1,903,048 0 0 OWENS CORNING NEW COM 690742101 6,231 216,950 SH SOLE 216,950 0 0 PATTERSON UTI ENERGY INC COM 703481101 5,942 297,400 SH SOLE 297,400 0 0 PRECISION DRILLING CORP COM 2010 74022D308 15,098 1,471,579 SH SOLE 1,471,579 0 0 PRIME ACQUISITION CORP SHS G72436101 4,680 488,000 SH SOLE 488,000 0 0 PRIME ACQUISITION CORP *W EXP 99/99/999 G72436127 100 340,600 SH SOLE 340,600 0 0 QUANEX BUILDING PRODUCTS COR COM 747619104 6,956 463,107 SH SOLE 463,107 0 0 RED ROBIN GOURMET BURGERS IN COM 75689M101 8,573 309,500 SH SOLE 309,500 0 0 REPUBLIC SVCS INC COM 760759100 13,437 487,747 SH SOLE 487,747 0 0 SANCHEZ ENERGY CORP COM 79970Y105 3,452 200,000 SH SOLE 200,000 0 0 SCORPIO TANKERS INC SHS Y7542C106 4,482 916,494 SH SOLE 916,494 0 0 SHUFFLE MASTER INC COM 825549108 10,350 883,139 SH SOLE 883,139 0 0 SINA CORP ORD G81477104 5,777 111,100 SH SOLE 111,100 0 0 SINA CORP ORD G81477104 5,200 100,000 SH PUT SOLE 100,000 0 0 SMART TECHNOLOGIES INC CL A SUB VTG S 83172R108 4,036 1,093,747 SH SOLE 1,093,747 0 0 SMITH A O COM 831865209 17,880 445,658 SH SOLE 445,658 0 0 SPDR GOLD TRUST GOLD SHS 78463V107 378 2,485 SH SOLE 2,485 0 0 SPDR SERIES TRUST S&P HOMEBUILD 78464A888 23,247 1,359,500 SH SOLE 1,359,500 0 0 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 6,684 484,344 SH SOLE 484,344 0 0 STANTEC INC COM 85472N109 25,154 923,097 SH SOLE 923,097 0 0 SWIFT TRANSN CO CL A 87074U101 6,182 750,200 SH SOLE 750,200 0 0 SXC HEALTH SOLUTIONS CORP COM 78505P100 34,794 618,010 SH SOLE 618,010 0 0 TASEKO MINES LTD COM 876511106 1,096 401,500 SH PUT SOLE 401,500 0 0 TASEKO MINES LTD COM 876511106 1,096 401,500 SH SOLE 401,500 0 0 THOMPSON CREEK METALS CO INC COM 884768102 6,382 917,000 SH SOLE 917,000 0 0 TRANSCANADA CORP COM 89353D107 4,367 100,000 SH SOLE 100,000 0 0 TRANSGLOBE ENERGY CORP COM 893662106 5,781 731,800 SH SOLE 731,800 0 0 TRW AUTOMOTIVE INC NOTE 3.500%12/0 87264MAH2 30,863 23,000,000 PRN SOLE 0 0 0 UAL CORP NOTE 6.000%10/1 902549AJ3 22,865 10,000,000 PRN SOLE 0 0 0 UNITED RENTALS INC COM 911363109 5,629 190,500 SH SOLE 190,500 0 0 UNIVERSAL BUSINESS PMT SOL A COM 913384103 6,367 1,085,600 SH SOLE 1,085,600 0 0 UNIVERSAL BUSINESS PMT SOL A *W EXP 05/09/201 913384111 127 527,837 SH SOLE 527,837 0 0 VALERO ENERGY CORP NEW COM 91913Y100 7,993 379,731 SH SOLE 379,731 0 0 VALUECLICK INC COM 92046N102 19,133 1,174,545 SH SOLE 1,174,545 0 0 VCA ANTECH INC COM 918194101 8,534 432,107 SH SOLE 432,107 0 0 VIRGIN MEDIA INC NOTE 6.500%11/1 92769LAB7 34,438 25,000,000 PRN SOLE 0 0 0 WESCO INTL INC COM 95082P105 11,376 214,600 SH SOLE 214,600 0 0 ZEBRA TECHNOLOGIES CORP CL A 989207105 6,646 185,758 SH SOLE 185,758 0 0