Polar Asset Management Partners Inc. Q2 2025 Filing

Filed August 14, 2025

Portfolio Value

$6.4B

Holdings

587

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (587 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDR S&P 500 ETF TR	2,556,000	$1.6B	24.67%	Put
2	NDQINVESCO QQQ TR	818,600	$451.6M	7.05%	Put
3	PHYS/USPROTT PHYSICAL GOLD TR	15,809,185	$400.8M	6.26%
4	IDCC 3.5 06/01/27INTERDIGITAL INC	61,500,000	$179.9M	2.81%
5	LYV 3.125 01/15/29LIVE NATION ENTERTAINMENT IN	100,000,000	$153.6M	2.40%
6	AXON 0.5 12/15/27AXON ENTERPRISE INC	42,263,000	$153.1M	2.39%
7	GVA 3.75 05/15/28GRANITE CONSTR INC	55,000,000	$114.7M	1.79%
8	SKAASKECHERS U S A INC	1,684,545	$106.3M	1.66%
9	ITGR 2.125 02/15/28INTEGER HLDGS CORP	47,201,000	$71.0M	1.11%
10	LRN 1.125 09/01/27STRIDE INC	25,000,000	$69.6M	1.09%
11	DNBDUN & BRADSTREET HLDGS INC	6,629,346	$60.3M	0.94%
12	AZEKAZEK CO INC	988,835	$53.7M	0.84%
13	COINCOINBASE GLOBAL INC	150,000	$52.6M	0.82%	Call
14	GHGUARDANT HEALTH INC	977,846	$50.9M	0.79%	Put
15	PSLV/USPROTT PHYSICAL SILVER TR	3,437,232	$42.1M	0.66%
16	AFWALIGN TECHNOLOGY INC	203,622	$38.6M	0.60%	Put
17	AVDXAVIDXCHANGE HOLDINGS INC	3,756,608	$36.8M	0.57%
18	FYBRFRONTIER COMMUNICATIONS PARE	1,000,000	$36.4M	0.57%
19	MTSIMACOM TECH SOLUTIONS HLDGS I	249,765	$35.8M	0.56%
20	ITRI 1.375 07/15/30ITRON INC	30,000,000	$35.8M	0.56%
21	SMHVANECK ETF TRUST	121,500	$33.9M	0.53%	Put
22	2L9BLUEPRINT MEDICINES CORP	262,964	$33.7M	0.53%
23	BL 1 06/01/29BLACKLINE INC	30,000,000	$31.9M	0.50%
24	MDTMEDTRONIC PLC	343,900	$30.0M	0.47%
25	QUBTQUANTUM COMPUTING INC	1,559,300	$29.4M	0.46%
26	EVRG 4.5 12/15/27EVERGY INC	25,000,000	$29.2M	0.46%
27	PRGS 3.5 03/01/30PROGRESS SOFTWARE CORP	25,000,000	$29.0M	0.45%
28	IBITISHARES BITCOIN TRUST ETF	471,313	$28.8M	0.45%
29	NVDANVIDIA CORPORATION	174,691	$27.6M	0.43%	Call
30	G2CEVERI HLDGS INC	1,925,009	$27.4M	0.43%
31	PPL 2.875 03/15/28PPL CAP FDG INC	25,000,000	$27.0M	0.42%
32	NOANORTH AMERN CONSTR GROUP LTD	1,667,336	$26.7M	0.42%
33	TSLATESLA INC	82,500	$26.2M	0.41%	Call
34	MUBISHARES TR	250,000	$26.1M	0.41%
35	PENPENUMBRA INC	101,200	$26.0M	0.41%
36	TSMTAIWAN SEMICONDUCTOR MFG LTD	109,215	$24.7M	0.39%
37	OLEDUNIVERSAL DISPLAY CORP	153,837	$23.8M	0.37%
38	WKC 3.25 07/01/28WORLD KINECT CORPORATION	20,000,000	$23.3M	0.36%
39	MRVLMARVELL TECHNOLOGY INC	293,809	$22.7M	0.36%	Call
40	KELKELLANOVA	285,000	$22.7M	0.35%
41	AMDADVANCED MICRO DEVICES INC	156,900	$22.3M	0.35%	Call
42	HESHESS CORP	160,000	$22.2M	0.35%
43	KCHVKOCHAV DEFENSE ACQUI CO	2,150,000	$21.9M	0.34%
44	IWMISHARES TR	100,000	$21.6M	0.34%	Put
45	NVSTENVISTA HOLDINGS CORPORATION	1,100,810	$21.5M	0.34%
46	LRCXLAM RESEARCH CORP	218,970	$21.3M	0.33%
47	METAMETA PLATFORMS INC	28,494	$21.0M	0.33%
48	GTLSCHART INDS INC	125,000	$20.6M	0.32%
49	MIGAMICROSTRATEGY INC	50,000	$20.2M	0.32%	Call
50	AG8AGILENT TECHNOLOGIES INC	169,157	$20.0M	0.31%
51	DMIIDRUGS MADE IN AMER ACQUTN CO	1,900,000	$19.4M	0.30%
52	SITMSITIME CORP	86,555	$18.4M	0.29%
53	GKOSGLAUKOS CORP	177,123	$18.3M	0.29%
54	TG7TRIUMPH GROUP INC NEW	710,178	$18.3M	0.29%
55	VERX 0.75 05/01/29VERTEX INC	15,000,000	$17.9M	0.28%
56	SMTCSEMTECH CORP	396,225	$17.9M	0.28%
57	WOOFOOT LOCKER INC	727,000	$17.8M	0.28%
58	DC4DEXCOM INC	197,700	$17.3M	0.27%
59	MATWMATTHEWS INTL CORP	721,408	$17.2M	0.27%	Call
60	EWEDWARDS LIFESCIENCES CORP	220,239	$17.2M	0.27%
61	ENQENTEGRIS INC	209,738	$16.9M	0.26%
62	SBXDSILVERBOX CORP IV	1,480,000	$16.2M	0.25%
63	GOOGALPHABET INC	90,900	$16.1M	0.25%
64	QCOMQUALCOMM INC	101,200	$16.1M	0.25%	Call
65	TECHBIO-TECHNE CORP	309,299	$15.9M	0.25%
66	BTBTBIT DIGITAL INC	7,248,800	$15.9M	0.25%	Call
67	TTWOTAKE-TWO INTERACTIVE SOFTWAR	65,300	$15.9M	0.25%
68	MACIMELAR ACQUISITION CORP. I	1,485,000	$15.6M	0.24%
69	WDCWESTERN DIGITAL CORP	243,675	$15.6M	0.24%
70	SIMOSILICON MOTION TECHNOLOGY CO	205,751	$15.5M	0.24%
71	CDWCDW CORP	86,266	$15.4M	0.24%
72	MLACMOUNTAIN LAKE ACQUISITION CO	1,480,000	$15.2M	0.24%
73	IPGINTERPUBLIC GROUP COS INC	605,000	$14.8M	0.23%
74	AMZNAMAZON COM INC	65,356	$14.3M	0.22%
75	AMEDAMEDISYS INC	145,000	$14.3M	0.22%	Put
76	MCHPMICROCHIP TECHNOLOGY INC.	202,500	$14.2M	0.22%	Call
77	SDHISIDDHI ACQUISITION CORP	1,350,000	$13.6M	0.21%
78	TMUST-MOBILE US INC	55,500	$13.2M	0.21%
79	HURCHURCO CO	690,005	$13.0M	0.20%
80	FVICN 3.75 06/30/29FORTUNA MNG CORP	10,000,000	$13.0M	0.20%
81	POLEANDRETTI ACQUISITION CORP II	1,250,000	$13.0M	0.20%
82	PIIMPINJ INC	115,645	$12.8M	0.20%
83	LITELUMENTUM HLDGS INC	135,000	$12.8M	0.20%	Call
84	KRNTKORNIT DIGITAL LTD	643,850	$12.8M	0.20%
85	BWMNBOWMAN CONSULTING GROUP LTD	444,880	$12.8M	0.20%
86	TACOBERTO ACQUISITION CORP	1,200,000	$12.5M	0.20%
87	GPATGP-ACT III ACQUISITION CORP	1,174,996	$12.4M	0.19%
88	EQXCN 4.75 10/15/28EQUINOX GOLD CORP	10,000,000	$12.3M	0.19%
89	FOXAFOX CORP	218,600	$12.3M	0.19%
90	TTDTHE TRADE DESK INC	169,113	$12.2M	0.19%
91	1GSNNOVANTA INC	91,800	$11.8M	0.18%
92	SATS 3.875 11/30/30ECHOSTAR CORP	10,035,012	$11.8M	0.18%
93	UPSTUPSTART HLDGS INC	172,400	$11.2M	0.17%	Put
94	COLL 2.875 02/15/29COLLEGIUM PHARMACEUTICAL INC	10,000,000	$10.8M	0.17%
95	CNRCANADIAN NATL RY CO	103,000	$10.7M	0.17%
96	FQIDIGITAL RLTY TR INC	61,100	$10.7M	0.17%
97	CMS 3.375 05/01/28CMS ENERGY CORP	10,000,000	$10.6M	0.17%
98	CMIIUCOLUMBUS CIRCLE CAP CORP. I	1,000,000	$10.6M	0.17%
99	JACSJACKSON ACQUISITION CO II	1,025,000	$10.6M	0.16%
100	XLFSELECT SECTOR SPDR TR	200,000	$10.5M	0.16%	Call

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