0000902664-11-001595.txt : 20111114 0000902664-11-001595.hdr.sgml : 20111111 20111114121212 ACCESSION NUMBER: 0000902664-11-001595 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111114 DATE AS OF CHANGE: 20111114 EFFECTIVENESS DATE: 20111114 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: 111199734 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 p11-1841form13fhr.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: September 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: 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 11/14/11 ------------------------ ------------------------------ ---------- 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).) 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: $ 1,321,301 -------------- (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 11,173 606,576 SH SOLE 606,576 AGILENT TECHNOLOGIES INC COM 00846U101 9,274 296,780 SH SOLE 296,780 ALLIANCE DATA SYSTEMS CORP NOTE 4.750% 5/1 018581AC2 18,399 9,000,000 PRN SOLE 9,000,000 APPLE INC COM 037833100 91,402 239,700 SH PUT SOLE 239,700 ARMOUR RESIDENTIAL REIT INC *W EXP 11/07/201 042315119 6 305,800 SH SOLE 305,800 AUSTRALIA ACQUISITION CORP SHS G06368107 8,279 850,000 SH SOLE 850,000 AUSTRALIA ACQUISITION CORP *W EXP 99/99/999 G06368115 8 29,410 SH SOLE 29,410 AVIAT NETWORKS INC COM 05366Y102 2,326 989,694 SH SOLE 989,694 BARRICK GOLD CORP COM 067901108 8,603 184,424 SH SOLE 184,424 BCE INC COM NEW 05534B760 5,619 150,000 SH PUT SOLE 150,000 BCE INC COM NEW 05534B760 3,746 100,000 SH CALL SOLE 100,000 BIO RAD LABS INC CL A 090572207 3,222 35,500 SH SOLE 35,500 BIOMARIN PHARMACEUTICAL INC NOTE 1.875% 4/2 09061GAD3 19,923 11,975,000 PRN SOLE 11,975,000 BLUE WOLF MONGOLIA HOLDINGS SHS G11962100 3,444 350,000 SH SOLE 350,000 BRINKER INTL INC COM 109641100 2,847 136,100 SH SOLE 136,100 BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 4,138 622,252 SH SOLE 622,252 BRUNSWICK CORP COM 117043109 14,278 1,016,951 SH SOLE 1,016,951 CASELLA WASTE SYS INC CL A 147448104 5,293 1,006,239 SH SOLE 1,006,239 CAZADOR ACQUISITION CORPORAT SHS G19867103 5,432 560,000 SH SOLE 560,000 CEPHALON INC NOTE 2.500% 5/0 NOTE 2.500% 5/0 156708AR0 37,164 30,000,000 PRN SOLE 30,000,000 CHESAPEAKE ENERGY CORP NOTE 2.750%11/1 165167BW6 15,400 15,000,000 PRN SOLE 15,000,000 CHINA GROWTH EQUITY INV LTD *W EXP 99/99/999 G2114K123 117 275,000 SH SOLE 275,000 CHINA GROWTH EQUITY INV LTD SHS G2114K107 5,757 600,000 SH SOLE 600,000 CHINA METRO-RURAL HLDGS LTD SHS G3163G104 122 104,000 SH SOLE 104,000 COMPLETE PRODUCTION SERVICES COM 20453E109 5,133 272,303 SH SOLE 272,303 COTT CORP QUE COM 22163N106 3,561 522,979 SH SOLE 522,979 CURRENCYSHARES CDN DLR TR CDN DOLLAR SHS 23129X105 22,600 238,200 SH CALL SOLE 238,200 CURRENCYSHARES EURO TR EURO SHS 23130C108 66,735 500,000 SH CALL SOLE 500,000 CVR ENERGY INC COM 12662P108 5,776 273,215 SH SOLE 273,215 DENTSPLY INTL INC NEW COM 249030107 13,451 438,300 SH SOLE 438,300 DISNEY WALT CO COM DISNEY 254687106 9,000 298,400 SH SOLE 298,400 DOLLAR TREE INC COM 256746108 7,514 100,000 SH PUT SOLE 100,000 DST SYS INC DEL COM 233326107 19,044 434,500 SH SOLE 434,500 DUNKIN BRANDS GROUP INC COM 265504100 2,770 100,000 SH PUT SOLE 100,000 E M C CORP MASS NOTE 1.750%12/0 268648AM4 28,196 20,000,000 PRN SOLE 20,000,000 EBAY INC COM 278642103 16,573 562,000 SH SOLE 562,000 ELECTRONICS FOR IMAGING INC COM 286082102 12,686 941,818 SH SOLE 941,818 ENDO PHARMACEUTICALS HLDGS I NOTE 1.750% 4/1 29264FAB2 20,433 18,000,000 PRN SOLE 18,000,000 EQUIFAX INC COM 294429105 26,191 852,019 SH SOLE 852,019 EQUINIX INC NOTE 3.000%10/1 29444UAG1 11,666 11,079,000 PRN SOLE 11,079,000 EQUINIX INC NOTE 4.750% 6/1 29444UAH9 11,610 9,000,000 PRN SOLE 9,000,000 EVERGREEN ENERGY INC NEW COM NEW 30024B203 170 191,359 SH SOLE 191,359 EXPRESS INC COM 30219E103 6,104 300,828 SH SOLE 300,828 FEDEX CORP COM 31428X106 7,600 112,286 SH SOLE 112,286 FIDELITY NATL INFORMATION SV COM 31620M106 16,395 674,142 SH SOLE 674,142 FIRST MAJESTIC SILVER CORP COM 32076V103 20,217 1,329,200 SH SOLE 1,329,200 FIRSTSERVICE CORP SDCV 6.500%12/3 33761NAA7 20,432 18,424,000 PRN SOLE 18,424,000 GLOBAL EAGLE ACQUISITION COR COM 37951D102 5,282 556,023 SH SOLE 556,023 GOOGLE INC CL A 38259P508 15,348 29,800 SH SOLE 29,800 GROUPE CGI INC CL A SUB VTG 39945C109 38,919 2,069,046 SH SOLE 2,069,046 HEARTLAND EXPRESS INC COM 422347104 6,675 492,233 SH SOLE 492,233 HEARTWARE INTL INC NOTE 3.500%12/1 422368AA8 4,465 4,500,000 PRN SOLE 4,500,000 HERTZ GLOBAL HOLDINGS INC NOTE 5.250% 6/0 42805TAA3 29,221 22,500,000 PRN SOLE 22,500,000 HUDSON HIGHLAND GROUP INC COM 443792106 4,723 1,380,964 SH SOLE 1,380,964 IAC INTERACTIVECORP COM PAR $.001 44919P508 12,451 314,813 SH SOLE 314,813 INFINERA CORPORATION COM 45667G103 1,430 185,200 SH CALL SOLE 185,200 INTERCONTINENTAL HTLS GRP PL SPONS ADR NEW 45857P301 5,682 353,349 SH SOLE 353,349 ISHARES TR RUSSELL 2000 464287655 12,860 200,000 SH PUT SOLE 200,000 IVANHOE MINES LTD COM 46579N103 5,309 387,544 SH SOLE 387,544 JAGUAR MNG INC COM 47009M103 1,410 300,000 SH PUT SOLE 300,000

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 ---------------------------- ---------------- --------- -------- ---------- --- ---- ---------- -------- ---------- ------ ---- KVH INDS INC COM 482738101 1,695 214,291 SH SOLE 214,291 LATTICE SEMICONDUCTOR CORP COM 518415104 15,377 2,928,900 SH SOLE 2,928,900 LDK SOLAR CO LTD SPONSORED ADR 50183L107 253 81,000 SH CALL SOLE 81,000 LINCARE HLDGS INC NOTE 2.750%11/0 532791AF7 20,675 20,000,000 PRN SOLE 20,000,000 LIZ CLAIBORNE INC COM 539320101 2,000 400,000 SH PUT SOLE 400,000 LIZ CLAIBORNE INC COM 539320101 1,000 200,000 SH CALL SOLE 200,000 MICROSOFT CORP COM 594918104 11,549 464,000 SH SOLE 464,000 MINDSPEED TECHNOLOGIES INC COM NEW 602682205 2,669 513,267 SH SOLE 513,267 MOHAWK INDS INC COM 608190104 5,632 131,244 SH SOLE 131,244 MOVE INC COM COM 62458M108 4,990 3,441,543 SH SOLE 3,441,543 NAUTILUS MARINE ACQUISIT COR SHS Y6255E101 3,814 400,000 SH SOLE 400,000 NAUTILUS MARINE ACQUISIT COR *W EXP 06/17/201 Y6255E119 150 400,000 SH SOLE 400,000 NETAPP INC NOTE 1.750% 6/0 64110DAB0 30,466 25,000,000 PRN SOLE 25,000,000 NOVAGOLD RES INC NOTE 5.500% 5/0 66987EAA5 7,664 7,500,000 PRN SOLE 7,500,000 OIL STS INTL INC NOTE 2.375% 7/0 678026AB1 8,128 5,000,000 PRN SOLE 5,000,000 OPEN TEXT CORP COM 683715106 3,974 76,251 SH SOLE 76,251 PRECISION DRILLING CORP COM 2010 74022D308 12,199 1,471,579 SH SOLE 1,471,579 PRIME ACQUISITION CORP SHS G72436101 4,410 463,000 SH SOLE 463,000 PRIME ACQUISITION CORP *W EXP 99/99/999 G72436127 163 347,200 SH SOLE 347,200 RED ROBIN GOURMET BURGERS IN COM 75689M101 2,438 101,200 SH SOLE 101,200 RELIANCE STEEL & ALUMINUM CO COM 759509102 3,659 107,600 SH SOLE 107,600 REPUBLIC SVCS INC COM 760759100 19,570 697,447 SH SOLE 697,447 ROCKWELL AUTOMATION INC COM 773903109 5,986 106,900 SH SOLE 106,900 ROSS STORES INC COM 778296103 11,017 140,000 SH PUT SOLE 140,000 RSC HOLDINGS INC COM 74972L102 5,535 776,300 SH SOLE 776,300 SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 10,472 886,700 SH PUT SOLE 886,700 SHUFFLE MASTER INC COM 825549108 7,427 883,139 SH SOLE 883,139 SMART TECHNOLOGIES INC CL A SUB VTG S 83172R108 4,594 1,093,747 SH SOLE 1,093,747 SMITH A O COM 831865209 20,648 644,658 SH SOLE 644,658 SPDR GOLD TRUST GOLD SHS 78463V107 7,903 50,000 SH PUT SOLE 50,000 SPDR S&P 500 ETF TR TR UNIT 78462F103 28,288 250,000 SH PUT SOLE 250,000 SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 42,639 300,000 SH PUT SOLE 300,000 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 19,288 1,374,782 SH SOLE 1,374,782 STANTEC INC COM 85472N109 20,548 923,097 SH SOLE 923,097 SUN LIFE FINL INC COM 866796105 1,308 55,000 SH PUT SOLE 55,000 SUN LIFE FINL INC COM 866796105 1,307 54,950 SH SOLE 54,950 SXC HEALTH SOLUTIONS CORP COM 78505P100 42,381 760,884 SH SOLE 760,884 TASEKO MINES LTD COM 876511106 1,024 401,500 SH PUT SOLE 401,500 TASEKO MINES LTD COM 876511106 893 350,000 SH SOLE 350,000 THOMPSON CREEK METALS CO INC COM 884768102 5,566 917,000 SH SOLE 917,000 TRANSGLOBE ENERGY CORP COM 893662106 5,283 657,900 SH SOLE 657,900 TRW AUTOMOTIVE INC NOTE 3.500%12/0 87264MAH2 31,122 23,000,000 PRN SOLE 23,000,000 UNITED RENTALS INC COM 911363109 5,569 330,700 SH SOLE 330,700 UNIVERSAL BUSINESS PMT SOL A COM 913384103 6,242 1,085,600 SH SOLE 1,085,600 UNIVERSAL BUSINESS PMT SOL A *W EXP 05/09/201 913384111 140 536,900 SH SOLE 536,900 V F CORP COM 918204108 4,253 35,000 SH PUT SOLE 35,000 VALERO ENERGY CORP NEW COM 91913Y100 11,693 657,631 SH SOLE 657,631 VALUECLICK INC COM 92046N102 16,065 1,032,445 SH SOLE 1,032,445 VCA ANTECH INC COM 918194101 3,608 225,807 SH SOLE 225,807 VELTI PLC ST HELIER SHS G93285107 3,384 511,900 SH SOLE 511,900 VIACOM INC NEW CL B 92553P201 9,858 254,472 SH SOLE 254,472 VIRGIN MEDIA INC NOTE 6.500%11/1 92769LAB7 34,142 22,500,000 PRN SOLE 22,500,000 WEST MARINE INC COM 954235107 1,881 244,222 SH SOLE 244,222 WESTPORT INNOVATIONS INC COM NEW 960908309 5,786 200,000 SH PUT SOLE 200,000 YAMANA GOLD INC COM 98462Y100 9,372 686,076 SH SOLE 686,076