Form D · Hedge Fund

POLAR FUND LTD

Jacksonville, FL · CIK 0000820945

Offering snapshot reported Mar 18, 2026 · SEC filing

Reported sold: $25.1M
Investors reported: 2
Minimum accepted: $1M
First sale: Feb 1, 2017

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Mar 18, 2026	Amendment	$25,055,000	$0vs Feb 21, 2025	2	SEC filing
Feb 21, 2025	Amendment	$25,055,000	$0vs Feb 22, 2024	2	SEC filing
Feb 22, 2024	Amendment	$25,055,000	$25,000,000vs Feb 24, 2022	2	SEC filing
Feb 23, 2023	Amendment	$55,000	$0vs Feb 24, 2022	1	SEC filing
Feb 24, 2022	Amendment	$55,000	$0vs Feb 25, 2021	1	SEC filing
Feb 25, 2021	Amendment	$55,000	$0vs Feb 26, 2020	1	SEC filing
Feb 26, 2020	Amendment	$55,000	$0vs Feb 27, 2019	1	SEC filing
Feb 27, 2019	Amendment	$55,000	$0vs Mar 6, 2018	0	SEC filing
Mar 6, 2018	Amendment	$55,000	No comparison	0	SEC filing
Mar 2, 2017	Amendment	Yet to sell	No comparison	0	SEC filing
Mar 2, 2016	Amendment	Yet to sell	No comparison	0	SEC filing
Mar 17, 2015	Amendment	Yet to sell	No comparison	0	SEC filing
Mar 16, 2015	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $0
Form D file number: 021-235994

Source: Form D, filed Mar 18, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

POLAR FUND, LTD

Investment adviser: WATER STREET CAPITAL, INC.

Gross asset value: $20.7M
Beneficial owners: 5
ADV minimum commitment: $1M

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator MORGAN STANLEY FUND SERVICES USA LLC PURCHASE, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG LLP MIAMI, Florida, United States

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom Related to adviser: No

Custodian MORGAN STANLEY & CO INTERNATIONAL PLC LONDON, United Kingdom Related to adviser: No

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States

Prime broker MORGAN STANLEY & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

KPMG LLP
PCAOB 185

GOLDMAN SACHS & CO. LLC
SEC 8-129

MORGAN STANLEY & CO. LLC
SEC 8-15869

THE NORTHERN TRUST COMPANY
LEI 6PTKHDJ8HDUF78PFWH30

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Filing source

Form ADV 2086889 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-5942303582

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Lllp Ws Management	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

4306 Pablo Oaks Court
Jacksonville, FL, 32224