0000902664-11-001336.txt : 20110815 0000902664-11-001336.hdr.sgml : 20110815 20110815134904 ACCESSION NUMBER: 0000902664-11-001336 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110815 DATE AS OF CHANGE: 20110815 EFFECTIVENESS DATE: 20110815 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: 111034961 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 p11-1455form13fhr.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: 6/30/2011 --------- 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 submission. 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 8/15/11 ------------------------ ------------------------------ ---------- 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: $ 1,252,150 -------------- (thousands) List of Other Included Managers: NONE 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 ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ---- ACXIOM CORP COM 005125109 12,542 956,700 SH SOLE 956,700 ADVANCED MICRO DEVICES INC COM 007903107 2,796 400,000 SH SOLE 400,000 AFFYMETRIX INC COM 00826T108 3,863 487,100 SH SOLE 487,100 AMERIGON INC COM 03070L300 626 36,000 SH SOLE 36,000 ANSYS INC COM 03662Q105 9,529 174,300 SH SOLE 174,300 ARMOUR RESIDENTIAL REIT INC *W EXP 11/07/201 042315119 11 305,800 SH SOLE 305,800 AUSTRALIA ACQUISITION CORP SHS G06368107 5,820 600,000 SH SOLE 600,000 AUSTRALIA ACQUISITION CORP *W EXP 99/99/999 G06368115 16 37,910 SH SOLE 37,910 AVIAT NETWORKS INC COM 05366Y102 4,493 1,140,294 SH SOLE 1,140,294 BARCLAYS BK PLC IPTH S&P VIX NEW 06740C261 2,114 100,000 SH PUT SOLE 100,000 BARCLAYS BK PLC IPTH S&P VIX NEW 06740C261 381 18,000 SH SOLE 18,000 BARRICK GOLD CORP COM 067901108 14,221 314,000 SH SOLE 314,000 BCE INC COM NEW 05534B760 9,823 250,000 SH PUT SOLE 250,000 BCE INC COM NEW 05534B760 9,823 250,000 SH CALL SOLE 250,000 BIOMARIN PHARMACEUTICAL INC NOTE 1.875% 4/2 09061GAD3 12,597 8,725,000 PRN SOLE 8,725,000 BORGWARNER INC NOTE 3.500% 4/1 099724AF3 24,710 10,000,000 PRN SOLE 10,000,000 BRUNSWICK CORP COM 117043109 6,797 333,200 SH SOLE 333,200 CANADIAN NAT RES LTD COM 136385101 7,953 190,000 SH SOLE 190,000 CASELLA WASTE SYS INC CL A 147448104 2,843 466,100 SH SOLE 466,100 CAZADOR ACQUISITION CORPORAT SHS G19867103 5,407 560,000 SH SOLE 560,000 CELESTICA INC SUB VTG SHS 15101Q108 24,664 2,815,568 SH SOLE 2,815,568 CEPHALON INC NOTE 2.500% 5/0 156708AR0 36,999 30,000,000 PRN SOLE 30,000,000 CHINA GROWTH EQUITY INV LTD UNIT 05/14/2016 G2114K115 4,750 475,000 SH SOLE 475,000 CHINA METRO-RURAL HLDGS LTD SHS G3163G104 121 104,000 SH SOLE 104,000 CITIGROUP INC COM NEW 172967424 4,164 100,000 SH PUT SOLE 100,000 CITIGROUP INC COM NEW 172967424 14,280 342,930 SH SOLE 342,930 CLARCOR INC COM 179895107 10,373 219,400 SH SOLE 219,400 COGNEX CORP COM 192422103 9,996 282,131 SH SOLE 282,131 COMCAST CORP NEW CL A 20030N101 20,029 790,400 SH SOLE 790,400 COTT CORP QUE COM 22163N106 4,398 522,979 SH SOLE 522,979 CVR ENERGY INC COM 12662P108 12,886 523,400 SH SOLE 523,400 CVS CAREMARK CORPORATION COM 126650100 3,006 80,000 SH PUT SOLE 80,000 CVS CAREMARK CORPORATION COM 126650100 3,006 80,000 SH CALL SOLE 80,000 DENDREON CORP NOTE 2.875% 1/1 24823QAC1 8,798 8,000,000 PRN SOLE 8,000,000 DIRECTV COM CL A 25490A101 4,904 96,500 SH PUT SOLE 96,500 DIRECTV COM CL A 25490A101 4,904 96,500 SH CALL SOLE 96,500 DST SYS INC DEL COM 233326107 20,439 387,100 SH SOLE 387,100 E M C CORP MASS NOTE 1.750%12/0 268648AM4 35,034 20,000,000 PRN SOLE 20,000,000 ELECTRONICS FOR IMAGING INC COM 286082102 14,330 832,174 SH SOLE 832,174 ENBRIDGE INC COM 29250N105 8,115 250,000 SH SOLE 250,000 ENDEAVOUR SILVER CORP COM 29258Y103 1,575 187,497 SH SOLE 187,497 ENDO PHARMACEUTICALS HLDGS I NOTE 1.750% 4/1 29264FAB2 26,218 18,000,000 PRN SOLE 18,000,000 EQUIFAX INC COM 294429105 23,735 683,615 SH SOLE 683,615 EQUINIX INC NOTE 4.750% 6/1 29444UAH9 11,335 8,000,000 PRN SOLE 8,000,000 EQUINIX INC NOTE 3.000%10/1 29444UAG1 10,706 9,532,000 PRN SOLE 9,532,000 EVERGREEN ENERGY INC NEW COM NEW 30024B203 403 224,900 SH SOLE 224,900 FEI CO COM 30241L109 6,279 164,404 SH SOLE 164,404 FIDELITY NATL INFORMATION SV COM 31620M106 18,489 600,500 SH SOLE 600,500 FIRST MAJESTIC SILVER CORP COM 32076V103 14,838 834,230 SH SOLE 834,230 FIRSTSERVICE CORP SDCV 6.500%12/3 33761NAA7 23,096 16,998,000 PRN SOLE 16,998,000 GLOBAL EAGLE ACQUISITION COR COM 37951D102 3,800 400,000 SH SOLE 400,000 GOLD RESV INC CL A 38068N108 1,076 425,133 SH SOLE 425,133 GOLDEN MINERALS CO COM 381119106 528 29,700 SH SOLE 29,700 GROUPE CGI INC CL A SUB VTG 39945C109 51,002 2,069,046 SH SOLE 2,069,046 HEARTLAND EXPRESS INC COM 422347104 6,869 414,800 SH SOLE 414,800 HEARTWARE INTL INC NOTE 3.500%12/1 422368AA8 4,693 4,500,000 PRN SOLE 4,500,000 HERTZ GLOBAL HOLDINGS INC NOTE 5.250% 6/0 42805TAA3 56,034 27,500,000 PRN SOLE 27,500,000 HUDSON HIGHLAND GROUP INC COM 443792106 6,931 1,295,570 SH SOLE 1,295,570 IAC INTERACTIVECORP COM PAR $.001 44919P508 21,719 569,013 SH SOLE 569,013 INTERCONTINENTAL HTLS GRP PL SPONS ADR NEW 45857P301 11,921 576,710 SH SOLE 576,710

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 ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ---- IRIDIUM COMMUNICATIONS INC COM 46269C102 7,131 824,429 SH SOLE 824,429 ISHARES TR DJ HOME CONSTN 464288752 15,550 1,224,393 SH SOLE 1,224,393 IVANHOE MINES LTD COM 46579N103 9,805 387,544 SH SOLE 387,544 KINROSS GOLD CORP COM NO PAR 496902404 30,134 1,907,212 SH SOLE 1,907,212 KVH INDS INC COM 482738101 3,855 362,670 SH SOLE 362,670 LAS VEGAS SANDS CORP COM 517834107 4,221 100,000 SH PUT SOLE 100,000 LATTICE SEMICONDUCTOR CORP COM 518415104 9,923 1,522,000 SH SOLE 1,522,000 LINCARE HLDGS INC NOTE 2.750%11/0 532791AF7 23,573 20,000,000 PRN SOLE 20,000,000 LIQUIDITY SERVICES INC COM 53635B107 3,543 150,051 SH SOLE 150,051 LIZ CLAIBORNE INC COM 539320101 1,070 200,000 SH CALL SOLE 200,000 LOUISIANA PAC CORP COM 546347105 814 100,000 SH SOLE 100,000 MACYS INC COM 55616P104 11,690 399,800 SH SOLE 399,800 MICROSOFT CORP COM 594918104 12,847 494,100 SH SOLE 494,100 MISTRAS GROUP INC COM 60649T107 5,939 366,600 SH SOLE 366,600 MOVE INC COM COM 62458M108 1,338 611,171 SH SOLE 611,171 MUELLER INDS INC COM 624756102 8,427 222,299 SH SOLE 222,299 NETAPP INC NOTE 1.750% 6/0 64110DAB0 33,981 20,000,000 PRN SOLE 20,000,000 NOKIA CORP SPONSORED ADR 654902204 1,378 214,700 SH CALL SOLE 214,700 NOVAGOLD RES INC NOTE 5.500% 5/0 66987EAA5 7,296 6,000,000 PRN SOLE 6,000,000 OIL STS INTL INC NOTE 2.375% 7/0 678026AB1 12,603 5,000,000 PRN SOLE 5,000,000 OPEN TEXT CORP COM 683715106 4,882 76,251 SH SOLE 76,251 PACCAR INC COM 693718108 19,583 383,300 SH SOLE 383,300 PDL BIOPHARMA INC NOTE 3.750% 5/0 69329YAC8 2,683 2,750,000 PRN SOLE 2,750,000 PENN WEST PETE LTD NEW COM 707887105 1,114 50,000 SH CALL SOLE 50,000 POINTS INTL LTD COM NEW 730843208 1,402 140,900 SH SOLE 140,900 PRECISION DRILLING CORP COM 2010 74022D308 21,132 1,471,579 SH SOLE 1,471,579 PRICELINE COM INC COM NEW 741503403 5,631 11,000 SH CALL SOLE 11,000 PRIME ACQUISITION CORP SHS G72436101 3,304 350,000 SH SOLE 350,000 PRIME ACQUISITION CORP *W EXP 99/99/999 G72436127 217 350,000 SH SOLE 350,000 RED ROBIN GOURMET BURGERS IN COM 75689M101 1,899 52,211 SH SOLE 52,211 REPUBLIC SVCS INC COM 760759100 22,016 713,647 SH SOLE 713,647 RESEARCH IN MOTION LTD COM 760975102 12,670 439,164 SH SOLE 439,164 RESPONSYS INC COM 761248103 7,412 418,043 SH SOLE 418,043 ROADRUNNER TRNSN SVCS HLDG I COM 76973Q105 8,649 573,548 SH SOLE 573,548 SALESFORCE COM INC NOTE 0.750% 1/1 79466LAB0 7,268 4,000,000 PRN SOLE 4,000,000 SMITH A O COM 831865209 16,542 391,058 SH SOLE 391,058 SONIC CORP COM 835451105 8,600 809,029 SH SOLE 809,029 SPDR S&P 500 ETF TR TR UNIT 78462F103 19,796 150,000 SH CALL SOLE 150,000 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 17,959 1,376,182 SH SOLE 1,376,182 SPROTT RESOURCE LENDING CORP COM 85207J100 2,227 1,287,300 SH SOLE 1,287,300 STANTEC INC COM 85472N109 20,672 712,097 SH SOLE 712,097 SUN LIFE FINL INC COM 866796105 1,654 55,000 SH PUT SOLE 55,000 SUN LIFE FINL INC COM 866796105 1,066 35,450 SH SOLE 35,450 SUNOPTA INC COM 8676EP108 2,942 413,795 SH SOLE 413,795 SUNPOWER CORP COM CL B 867652307 2,495 150,000 SH CALL SOLE 150,000 SXC HEALTH SOLUTIONS CORP COM 78505P100 44,831 760,884 SH SOLE 760,884 TASEKO MINES LTD COM 876511106 1,495 301,500 SH PUT SOLE 301,500 TASEKO MINES LTD COM 876511106 868 175,000 SH SOLE 175,000 THOMPSON CREEK METALS CO INC COM 884768102 9,152 917,000 SH SOLE 917,000 TRIANGLE PETE CORP COM NEW 89600B201 3,683 570,185 SH SOLE 570,185 TRIQUINT SEMICONDUCTOR INC COM 89674K103 5,934 582,300 SH SOLE 582,300 UNIVERAL BUSINESS PMT SOL AC UNIT 99/99/9999 913384202 5,200 800,000 SH SOLE 800,000 VALUECLICK INC COM 92046N102 16,224 977,331 SH SOLE 977,331 VELTI PLC ST HELIER SHS G93285107 6,628 391,960 SH SOLE 391,960 VERISK ANALYTICS INC CL A 92345Y106 14,437 417,000 SH SOLE 417,000 VISA INC COM CL A 92826C839 19,338 229,500 SH SOLE 229,500 WEST MARINE INC COM 954235107 7,209 695,203 SH SOLE 695,203 YAMANA GOLD INC COM 98462Y100 15,410 1,325,000 SH SOLE 1,325,000