Polar Asset Management Partners Inc.

CIK 0001326389 · Q1 2026

13F Equity AUM

$5.0B

-32.8% QoQ

Positions

659

+29 QoQ

AUM Rank

#1,019

Top 8%

Skill Alpha (FF)

+1.2%/yr^ns

No Clear Edge

Rank #1,477 · Top 18%

vs S&P -2.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 21.4%Top 10: 32.2%Top 20: 44.5%

IDCC 3.5 06/01/274.9%

SATS 3.875 11/30/304.3%

LYV 3.125 01/15/294.3%

OEF4.1%

SPY3.9%

GDX2.8%

NVDA2.5%

AMZN1.9%

PPL 2.875 03/15/281.9%

CWAN1.7%

Others (649)67.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services27.6%

Technology21.2%

Unclassified18.5%

Fixed Income8.0%

Consumer Cyclical6.8%

Healthcare6.2%

Industrials3.5%

Communication Services2.5%

Other5.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 659Median: 0.04%Avg: 0.15%

0–0.5%

628(48.1%)

0.5–1%

13(9.2%)

1–3%

13(21.2%)

3–5%

5(21.4%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 302Unique: 357vs 20 funds

3.9%Low

659

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

JPMORGAN CHASE & CO

5.1%

MORGAN STANLEY

3.7%

BlackRock, Inc.

4.6%

BANK OF AMERICA CORP /DE/

3.9%

GEODE CAPITAL MANAGEMENT, LLC

5.1%

VANGUARD CAPITAL MANAGEMENT LLC

STATE STREET CORP

4.9%

FMR LLC

5.1%

VANGUARD PORTFOLIO MANAGEMENT LLC

5.1%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New246Increased58Decreased86Exited220

New Positions

SATS 3.875 11/30/304.3%

+59.9M

OEF4.1%

+1.7M

GDX2.8%

+1.3M

OS1.4%

+2.9M

TPH1.3%

+1.4M

VRE1.0%

+2.7M

3M40.9%

+257K

TERN0.8%

+725K

XLI0.5%

+160K

CHEESECAKE FACTORY I…0.5%

+25.0M

Increased

PPL 2.875 03/15/281.9%

+30.0M(+60%)

HAYMAKER ACQUISITION…0.2%

+3.3M(+737%)

CWAN1.7%

+2.2M(+155%)

M3BRIGADE ACQUISITIO…0.8%

+2.1M(+117%)

MCW0.3%

+1.8M(+961%)

CORZW0.7%

+1.4M(+53%)

AM60.5%

+1.3M(+535%)

KDKRW0.1%

+1.2M(+105%)

SEE1.0%

+1.2M(+7957%)

GROY/WS0.0%

+729K(+147%)

Decreased

EVRG 4.5 12/15/271.3%

-50,877,000(-51%)

GVA 3.75 05/15/281.7%

-22,500,000(-41%)

SPY3.9%

-1,496,900(-83%)

D. BORAL ARC ACQ I C…0.1%

-1,411,600(-74%)

BRR0.0%

-1,149,427(-92%)

IBIT0.2%

-1,105,038(-84%)

NVDA2.5%

-1,057,867(-60%)

SQNS0.0%

-874,509(-78%)

AMZN1.9%

-836,300(-64%)

NAMMW0.0%

-754,199(-56%)

Exited

-6,058,832

-340,000

-560,000

-1,422,818

-187,366

-3,437,232

-290,000

-70,000,000

-787,000

-2,580,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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