# EDGAR Filing Document

**Accession Number:** 0000908315
**File Stem:** 0000945621-23-000083
**Filing Date:** 2023-2
**Character Count:** 11845
**Document Hash:** a4c6662927c6c606078a4e6889aaf858
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000945621-23-000083.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0000945621-23-000083

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WINMARK CORP
- **CENTRAL INDEX KEY:** 0000908315
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-MISCELLANEOUS RETAIL [5900]
- **IRS NUMBER:** 411622691
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-46803
- **FILM NUMBER:** 23616579

**BUSINESS ADDRESS:**
- **STREET 1:** 605 HIGHWAY 169 N SUITE 400
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55441
- **BUSINESS PHONE:** 763-520-8500

**MAIL ADDRESS:**
- **STREET 1:** 605 HIGHWAY 169 N SUITE 400
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55441

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GROW BIZ INTERNATIONAL INC
- **DATE OF NAME CHANGE:** 19930629
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mawer Investment Management Ltd.
- **CENTRAL INDEX KEY:** 0001538449
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 517 10TH AVENUE S. W.
- **STREET 2:** SUITE 600
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2R 0A8
- **BUSINESS PHONE:** 403-262-4673

**MAIL ADDRESS:**
- **STREET 1:** 517 10TH AVENUE S. W.
- **STREET 2:** SUITE 600
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2R 0A8

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

#### SCHEDULE 13G

#### Under the Securities Exchange Act of 1934

#### (Amendment No. 6)

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| |
|:---|
| Winmark Corporation |
| (Name of Issuer) |
| Common Stock |
| (Title of Class of Securities) |
| 974250102 |
| (CUSIP Number) |
| December 31, 2022 |
| (Date of Event which Requires Filing of this Statement) |

---

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

[X]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rule 13d-1(b)

[ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rule 13d-1(c)

[ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rule 13d-1(d)

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| | |
|:---|:---|
| **CUSIP No.** | **Page 2 of 5 Pages** |
| 974250102 |  |

---

---

| | | |
|:---|:---|:---|
| **1** | **NAMES OF REPORTING PERSONS** | **NAMES OF REPORTING PERSONS** |
| **1** | **I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)** | **I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)** |
| **1** | Mawer Investment Management Ltd. | Mawer Investment Management Ltd. |
| **1** | Mawer Investment Management Ltd. | Mawer Investment Management Ltd. |
| **2** | **CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** | **CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP** |
| **2** | (a)☐ | (a)☐ |
| **2** | (b)☐ | (b)☐ |
| **3** | **SEC USE ONLY** | **SEC USE ONLY** |
| **3** |  |  |
| **3** |  |  |
| **4** | **CITIZENSHIP OR PLACE OF ORGANIZATION** | **CITIZENSHIP OR PLACE OF ORGANIZATION** |
| **4** | Canada | Canada |
| **4** | Canada | Canada |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **5** | **SOLE VOTING POWER** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **5** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **5** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **6** | **SHARED VOTING POWER** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **6** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **6** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **7** | **SOLE DISPOSITIVE POWER** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **7** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **7** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **8** | **SHARED DISPOSITIVE POWER** |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **8** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH** | **8** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **9** | **AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON** | **AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON** |
| **9** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 |
| **9** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376682 |
| **10** | **CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)** | **CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)** |
| **10** | ☐ | ☐ |
| **10** | ☐ | ☐ |
| **11** | **PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)** | **PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)** |
| **11** | 10.96%<sup>(1)</sup> | 10.96%<sup>(1)</sup> |
| **11** | 10.96%<sup>(1)</sup> | 10.96%<sup>(1)</sup> |
| **12** | **TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)** | **TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)** |
| **12** | Investment Advisor | Investment Advisor |
| **12** | Investment Advisor | Investment Advisor |

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<sup>(1)</sup> Based upon 3,437,786 shares of Common Stock of Winmark Corporation (the "Issuer") outstanding as of October 11, 2022 as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on October 12, 2022.

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| | |
|:---|:---|
| **CUSIP No.** | **Page 3 of 5 Pages** |
| 974250102 |  |

---

---

| | |
|:---|:---|
| Item 1.<br>(a) | Name of Issuer: |
|  | Winmark Corporation |
| (b) | Address of Issuer's Principal Executive Offices: |
|  | 605 Highway 169 North, Suite 400<br>Minneapolis, MN 55441 |
| Item 2.<br> (a) | Name of Persons Filing: |
|  | <br> Mawer Investment Management Ltd. |
| (b) | Address of Principal Business Office or, if none, Residence : |
|  | 600, 517 – 10th Avenue SW<br> Calgary, Alberta, Canada T2R 0A8 |
| (c) | Citizenship: |
|  | Canada |
| (d) | Title of Class of Securities: |
|  | <br> Common Stock |
| (e) | CUSIP Number:<br>974250102 |

---

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| | |
|:---|:---|
| Item 3. | If this statement is filed pursuant to Sections 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. |
| (b) | [ ] Bank as defined in Section 3(a)(6) of the Act. |
| (c) | [ ] Insurance company as defined in Section 3(a)(19) of the Act. |
| (d) | [ ] Investment company registered under Section 8 of the Investment<br> &nbsp;&nbsp;&nbsp;&nbsp; Company Act of 1940. |
| (e) | [X] An investment adviser in accordance with Section<br> &nbsp;&nbsp;&nbsp;&nbsp; 240.13d-1(b)(1)(ii)(E). |
| (f) | [ ] An employee benefit plan or endowment fund in accordance with<br> &nbsp;&nbsp;&nbsp;&nbsp; Section 240.13d-1(b)(1)(ii)(F). |
| (g) | [ ] A parent holding company or control person in accordance with<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 240.13d-1(b)(1)(ii)(G). |
| (h) | [ ] A savings associations as defined in Section 3(b) of the Federal<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit Insurance Act. |
| (i) | [ ] A church plan that is excluded from the definition of an investment<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; company under Section 3(c)(14) of the Investment Company Act<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of 1940. |

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| | |
|:---|:---|
| **CUSIP No.** | **Page 4 of 5 Pages** |
| 974250102 |  |

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| | |
|:---|:---|
| (j) | [ ] A non-U.S. institution in accordance with Section 240.13d-1(b)(1) (ii)(J). |
| (k) | [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(K). |
| If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>_____________________________________________</u>** | If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>_____________________________________________</u>** |

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| | | |
|:---|:---|:---|
| Item 4. | Ownership. | Ownership. |
|  | (a) | Amount Beneficially Owned: |
|  |  | <br> 376682 |
|  | (b) | Percent of Class: |
|  |  | <br> 10.96% |
|  | (c) | Number of Shares as to which the person has: |
|  |  | (i)&nbsp;&nbsp;&nbsp;&nbsp; sole power to vote or to direct the vote: |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> 376682 |
|  |  | (ii)&nbsp;&nbsp;&nbsp;&nbsp; shared power to vote or direct the vote: |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> 0 |
|  |  | (iii)&nbsp;&nbsp;&nbsp;&nbsp;sole power to dispose or direct the disposition of: |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> 376682 |
|  |  | (iv)&nbsp;&nbsp;&nbsp;&nbsp;shared power to dispose or to direct the disposition of: |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> 0 |
| Item 5. | Ownership of Five Percent or Less of a Class: | Ownership of Five Percent or Less of a Class: |
|  |  | If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ☐ |
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person: | Ownership of More than Five Percent on Behalf of Another Person: |
|  |  | Not Applicable |

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| | |
|:---|:---|
| **CUSIP No.** | **Page 5 of 5 Pages** |
| 974250102 |  |

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| | |
|:---|:---|
| Item 7. | Identification and Classification of Subsidiaries 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. | Certification: |
|  | By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above 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. |

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#### 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.

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| | |
|:---|:---|
| Date: February 10, 2023 | Date: February 10, 2023 |
| By: | /s/ Karan Phadke<br>|
| Name:  | Karan Phadke |
| Title:  | Portfolio Manager |

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