Schedule 13G: Renaissance Reports 220,496 Shares of WINA

Rhea-AI Filing Summary

Renaissance Technologies disclosed a meaningful passive stake in Winmark Corporation, reporting beneficial ownership of 220,496 shares, equal to 6.21% of the outstanding common stock. The filing shows the reporting persons hold sole voting and sole dispositive power over those shares, indicating they control voting and sale decisions for the stake they report. The report is filed by Renaissance Technologies LLC (an investment adviser) and Renaissance Technologies Holdings Corporation (a holding company).

The filing also notes that certain funds managed by Renaissance have rights to receive dividends or sale proceeds for these securities, and the filers certify the position is held in the ordinary course of business and not for the purpose of changing control. This disclosure informs investors about a material institutional ownership position without signaling an intent to influence company control.

Positive

• Beneficial ownership disclosed: Renaissance reports 220,496 shares (6.21%), a material institutional position above the 5% reporting threshold
• Sole voting and dispositive power: The reporting persons state sole authority to vote and dispose of the reported shares
• Ordinary-course certification: The filing certifies the position is held in the ordinary course of business, not to change control
• Economic clarity: The filing notes certain funds managed by Renaissance have rights to receive dividends and sale proceeds

Negative

• None.

Insights

Financial Analyst

TL;DR: Renaissance reports a material 6.21% beneficial stake (220,496 shares) in Winmark; position appears passive and held in the ordinary course.

The disclosure represents a material institutional holding above the 5% threshold that must be publicly reported. Holding sole voting and dispositive power over 220,496 shares means the reporting entities can direct votes and dispositions of that block, which may affect short-term supply/demand dynamics for the stock but does not, by itself, indicate activism. The filing’s Item 6 language that certain funds managed by Renaissance have rights to dividends/proceeds clarifies economic exposure across managed vehicles. Impact assessment: informational and market-relevant, but the filing affirms a passive course of conduct.

Corporate Governance Expert

TL;DR: Schedule 13G shows a passive institutional investor holding >5% with sole voting/dispositive power and no group or control claims.

From a governance perspective, the filing is notable because it crosses the 5% disclosure threshold and reports sole control over voting and disposition, which centralizes decision authority on that stake. However, the certifying language that the securities are held in the ordinary course and not to change or influence control indicates the filer is using the Schedule 13G route for passive disclosure rather than an active Schedule 13D disclosure. There is no indication in the filing of coordinated group action or intent to seek board influence. Impact assessment: material for ownership transparency but not a governance threat.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

WINMARK CORPORATION

(Name of Issuer)

Common Stock, no par value per share

(Title of Class of Securities)

974250102

(CUSIP Number)

06/04/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 974250102

1

Names of Reporting Persons

Renaissance Technologies LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 220,496.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 220,496.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

220,496.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.21 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 974250102

1

Names of Reporting Persons

Renaissance Technologies Holdings Corporation

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 220,496.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 220,496.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

220,496.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.21 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: WINMARK CORPORATION
(b)	Address of issuer's principal executive offices: 605 HIGHWAY 169 N SUITE 400, MINNEAPOLIS, MN 55441
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed by Renaissance Technologies LLC ("RTC") and Renaissance Technologies Holdings Corporation ("RTHC").
(b)	Address or principal business office or, if none, residence: 800 Third Avenue New York, New York 10022
(c)	Citizenship: RTC is a Delaware limited liability company, and RTHC is a Delaware corporation.
(d)	Title of class of securities: Common Stock, no par value per share
(e)	CUSIP No.: 974250102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 220496
(b)	Percent of class: 6.21 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 220496
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 220496
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Certain funds managed by RTC have the right to receive dividends and proceeds from the sale of the securities which are the subject of this report.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Renaissance Technologies LLC

Signature:	Brian Felczak
Name/Title:	Chief Financial Officer
Date:	08/13/2025

Renaissance Technologies Holdings Corporation

Signature:	Brian Felczak
Name/Title:	Vice President
Date:	08/13/2025

Exhibit Information

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the undersigned agrees to the filing on behalf of each of a Statement on Schedule 13G, and all amendments thereto, with respect to the shares of Common Stock, no par value per share of WINMARK CORPORATION.

FAQ

What stake did Renaissance Technologies report in Winmark (WINA)?

The filers report beneficial ownership of 220,496 shares, representing 6.21% of Winmark's common stock.

Who filed the Schedule 13G for WINA?

The Schedule 13G was filed by Renaissance Technologies LLC and Renaissance Technologies Holdings Corporation.

Does the filing indicate who controls voting and disposition of the shares?

Yes. The reporting persons state they have sole voting power and sole dispositive power over the 220,496 shares.

Is this Schedule 13G a sign of activist intent for WINA?

No. The filing includes a certification that the shares are held in the ordinary course of business and were not acquired to change or influence control, consistent with passive disclosure.

Do other Renaissance-managed funds have economic rights to these shares?

Item 6 discloses that certain funds managed by Renaissance have the right to receive dividends and proceeds from sale of the reported securities.