Winmark

WINA • NASDAQ

Winmark is a specialty retail company in the consumer cyclical sector on NASDAQ, led by Brett D. Heffes, with a market cap of $1.6B. As of Q3 2025, 84% of shares are held by 213 institutional investors, with Neuberger Berman Group LLC as the largest holder at 8.75%.

Chief Executive OfficerBrett D. Heffes

Market Cap$1.6B

Specialty Retail

Consumer Cyclical

Employees83.0

Websitewinmarkcorporation.com

Country

United States of America

Overview

Overview of institutional ownership in WINA as of Q3 2025 with a market cap of $1.8B

All Institutions

Institutions: 213
Value Held: $1.5B
Shares Held: 3.0M
Avg Position: $7.0M
Median Position: $754.1K

Hedge Funds

Hedge Funds: 26
Value Held: $305.0M
Shares Held: 612.7K
Avg Position: $11.7M
Median Position: $1.5M

Ownership Breakdown

Institutional (non-HF)

66.88%

$1.2B

Hedge Funds

17.27%

$305.0M

Retail & Other

15.85%

$280.0M

Based on market cap of $1.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in WINA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
N Neuberger Berman Group LLC Institution	-	$154.6M 0.11% of portfolio	8.75% 310.6K shares	Q1 2023 Held for 2y 8m	$136.94B
B BlackRock, Inc. Institution	-	$128.8M 0.00% of portfolio	7.29% 258.7K shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$107.0M 0.14% of portfolio	6.06% 214.9K shares	≤ Q2 2013 Held for 12y 5m+	$75.8B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$89.9M 0.00% of portfolio	5.09% 180.6K shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
A AltraVue Capital, LLC RIA/Wealth	Touk Sinantha Founder	$86.8M 7.20% of portfolio	4.91% 174.3K shares	Q4 2018 Held for 6y 11m	$1.2B
F Fisher Asset Management, LLC Institution	-	$54.5M 0.02% of portfolio	3.08% 109.4K shares	Q2 2025 Held for 5 months	$276.29B
P Port Capital LLC Hedge Fund•Value	Brien Michael Obrien CEO	$48.8M 2.08% of portfolio	2.77% 98.1K shares	Q4 2017 Held for 7y 11m	$2.4B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$48.5M 0.04% of portfolio	2.75% 97.5K shares	Q4 2023 Held for 1y 11m	$134.11B
Nine Ten Capital Management LLC Hedge Fund•Long/Short	Russell Chad Mollen President	$41.8M 10.76% of portfolio	2.36% 83.9K shares	Q1 2015 Held for 10y 8m	$388.0M
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	Bruce Ira Jacobs President	$40.5M 0.16% of portfolio	2.29% 81.4K shares	Q1 2025 Held for 8 months	$25.2B

Net Capital Flow

Institutional buying and selling activity for WINA in Q3 2025

Traded: +$30.1M
Buyers: 98
Sellers: 94
Total Bought: +$156.9M
Total Sold: −$126.9M
Avg Position: $6.4M

Biggest Buyers

Institution	Net Bought	Current Position
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	+$34.1M +68.6K shares	$40.5M 81.4K shares
FIRST TRUST ADVISORS LP ETF Provider	+$26.6M +53.4K shares	$48.5M 97.5K shares
F Fisher Asset Management, LLC Institution	+$13.6M +27.3K shares	$54.5M 109.4K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$7.5M +15.1K shares	$8.1M 16.4K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	+$7.3M +14.7K shares	$7.3M 14.7K shares
M Man Group plc Institution	+$5.8M +11.7K shares	$14.7M 29.5K shares
UBS Group AG Institution	+$5.7M +11.4K shares	$17.4M 34.9K shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Long Only Manager	+$4.9M +9.8K shares	$35.2M 70.6K shares
Kingsview Wealth Management, LLC RIA/Wealth	+$4.8M +9.6K shares	$4.8M 9.6K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$4.8M +9.5K shares	$7.7M 15.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
MORGAN STANLEY RIA/Wealth	−$17.2M −34.6K shares	$14.5M 29.2K shares
MOUNTAIN PACIFIC INVESTMENT ADVISERS INC/ID RIA/Wealth	−$14.6M −29.3K shares	$2.3M 4.5K shares
B BESSEMER GROUP INC Institution	−$11.9M −23.9K shares	$16.9M 33.9K shares
Marshall Wace LLP Institution	−$6.8M −17.9K shares	Sold Off 0 shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$5.3M −10.6K shares	$725.3K 1.5K shares
P Port Capital LLC Hedge Fund•Value	−$5.0M −10.0K shares	$48.8M 98.1K shares
Q Qube Research & Technologies Ltd Institution	−$4.4M −8.9K shares	$1.2M 2.4K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$4.4M −8.9K shares	$11.4M 22.9K shares
V Vancity Investment Management Ltd Institution	−$4.4M −8.8K shares	$679.0K 1.4K shares
N Neuberger Berman Group LLC Institution	−$3.6M −7.1K shares	$154.6M 310.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited WINA in Q3 2025

New Positions: 15
New Value: $15.5M
Exited Positions: 20
Exited Value: $12.1M

New Positions

Institution	Position Value
Bridgewater Associates, LP Hedge Fund•Global Macro	$7.3M 14.7K shares
Kingsview Wealth Management, LLC RIA/Wealth	$4.8M 9.6K shares
Morningstar Investment Management LLC Long Only Manager	$1.0M 2.0K shares
CWM Advisors, LLC ETF Provider	$446.5K 897.0 shares
Cetera Investment Advisers RIA/Wealth	$390.3K 784.0 shares
A AXQ CAPITAL, LP Hedge Fund•Market Neutral	$351.9K 707.0 shares
HPM Partners LLC RIA/Wealth	$318.6K 640.0 shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$298.7K 600.0 shares
V Vise Technologies, Inc. Institution	$285.7K 574.0 shares
Longboard Asset Management, LP Long Only Manager	$210.6K 423.0 shares

Exited Positions

Institution	Previous Position
Marshall Wace LLP Institution	$6.8M 17.9K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	$1.3M 3.5K shares
B BAHL & GAYNOR INC Institution	$977.6K 2.6K shares
D Dynamic Technology Lab Private Ltd Institution	$793.0K 2.1K shares
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	$401.4K 1.1K shares
Magnetar Financial LLC Hedge Fund•Multi-Strategy	$351.2K 930.0 shares
D DRW Securities, LLC Institution	$275.3K 729.0 shares
P Petrus Trust Company, LTA Institution	$272.3K 721.0 shares
MONTRUSCO BOLTON INVESTMENTS INC. Long Only Manager	$229.6K 608.0 shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$217.1K 575.0 shares

Options Activity

Institutions with the largest Call and Put options positions in WINA as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with WINA as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Nine Ten Capital Management LLC Hedge Fund•Long/Short	Russell Chad Mollen President	10.76% $41.8M	2.36% 83.9K shares	Q1 2015 Held for 10y 8m	$388.0M
A AltraVue Capital, LLC RIA/Wealth	Touk Sinantha Founder	7.20% $86.8M	4.91% 174.3K shares	Q4 2018 Held for 6y 11m	$1.2B
P Port Capital LLC Hedge Fund•Value	Brien Michael Obrien CEO	2.08% $48.8M	2.77% 98.1K shares	Q4 2017 Held for 7y 11m	$2.4B
P PROMETHIUM ADVISORS,LLC RIA/Wealth	Christopher Francis Poch Founder	1.65% $2.9M	0.16% 5.8K shares	Q4 2024 Held for 11 months	$175.2M
Laurus Investment Counsel Inc. Long Only Manager	Chris William Page CEO	1.33% $1.9M	0.11% 3.9K shares	Q4 2017 Held for 7y 11m	$145.2M
NORTHSTAR ASSET MANAGEMENT INC RIA/Wealth	Julie N.W. Goodridge CEO	1.02% $3.9M	0.22% 7.9K shares	Q4 2024 Held for 11 months	$384.6M
Legato Capital Management LLC Fund of Funds	Victor Louis Hymes CEO	0.81% $7.4M	0.42% 14.9K shares	Q2 2017 Held for 8y 5m	$915.6M
Copeland Capital Management, LLC Long Only Manager	Eric Copeland Brown CEO	0.72% $34.6M	1.96% 69.6K shares	Q2 2021 Held for 4y 5m	$4.8B
SCHWARTZ INVESTMENT COUNSEL INC Long Only Manager	Timothy Steven Schwartz CEO	0.44% $13.2M	0.75% 26.6K shares	Q3 2022 Held for 3y 2m	$3.0B
M MONIMUS CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	Brian Jeffrey Bellinger Managing Partner	0.41% $538.1K	0.03% 1.1K shares	Q4 2024 Held for 11 months	$130.6M

Hedge Fund Spotlight

Discover hedge funds investing in WINA

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerScott David Hoffman

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in Winmark

Market Value: $398.2K
Shares Held: 800.0
Portfolio Weight: 0.00%
Owned Since: 2022-Q2

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%