Winmill & Co. Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 1, 2025), Winmill & Co. Inc. reported 54 stock positions worth $359.6 million. Its top holding was AutoZone (AZO) at 7.3% of the portfolio, followed by Steel Dynamics (STLD, 6.0%) and Alphabet Class A (GOOGL, 5.3%). Compared with Q1 2025, it opened 4 new positions, sold out of 6 and added to 7. The biggest buy was Iamgold (IAG, shares +1054%) and the biggest sale an exit from Valero Energy (VLO).

Most Recent 13F
Q2 2026
Location
WALPOLE, NH
CIK
0000052234
Portfolio Value
$359.6M (Q2 2025)
SEC Filing
0000892712-25-000087 ↗ filed Aug 1, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $351.3M Q1 2024 Q2 2024: $293.2M Q2 2024 Q3 2024: $297.2M Q3 2024 Q4 2024: $309.0M Q4 2024 Q1 2025: $329.0M Q1 2025 Q2 2025: $359.6M $359.6M Q2 2025 Q3 2025: $412.4M Q3 2025 Q4 2025: $374.9M Q4 2025 Q1 2026: $346.6M Q1 2026 Q2 2026: $451.6M Q2 2026

Holdings 54 stocks · $359.6M
AZO AutoZone Inc. 7.30% 7,069 $26.2M No change
STLD Steel Dynamics Inc. 6.01% 168,747 $21.6M No change
GOOGL Alphabet Inc. Class A 5.30% 108,100 $19.1M No change
LPLA LPL Financial Holdings Inc. 5.09% 48,860 $18.3M No change
WSM Williams-Sonoma Inc. 5.09% 111,994 $18.3M No change
IBKR Interactive Brokers Gro Class A 5.04% 327,200 $18.1M No change
NMIH Nmi Holdings Inc. filed as NMI HLDGS INC 4.65% 396,095 $16.7M No change
DFIN Donnelley Financial Solution 4.17% 243,000 $15.0M No change
ESNT Essent Group Ltd. 3.79% 224,500 $13.6M No change
MLI Mueller Industries Inc. 3.74% 169,280 $13.5M No change
CACC Credit Acceptance Corp. 3.55% 25,087 $12.8M No change
KGC Kinross Gold Corp. 3.54% 815,500 $12.7M Add +2.0%
URI United Rentals Inc. 3.23% 15,409 $11.6M No change
WPM Wheaton Precious Metals Corp. 3.21% 128,700 $11.6M Add +4.6%
LRCX Lam Research Corp. 2.95% 109,000 $10.6M No change
NGD New Gold Inc. 2.89% 2,100,000 $10.4M Add +5.4%
IAG Iamgold Corp. 2.55% 1,246,000 $9.2M Add +1053.7%
DDS Dillards Inc. Class A 2.50% 21,538 $9.0M No change
NVR NVR Inc. 2.46% 1,197 $8.8M No change
SNA Snap-on Inc. 2.41% 27,800 $8.7M No change
YOU Clear Secure Inc. Class A 2.23% 289,135 $8.0M No change
ALSN Allison Transmission Holding 2.10% 79,500 $7.6M New
UFPI Ufp Industries Inc. 2.00% 72,300 $7.2M No change
MA Mastercard Inc. Class A 1.56% 10,000 $5.6M No change
MTDR Matador Resources Co. 1.54% 115,850 $5.5M No change
PYPL PayPal Holdings Inc. 1.53% 74,000 $5.5M New
UNH Unitedhealth Group Inc. 1.43% 16,475 $5.1M No change
CROX Crocs Inc. 1.21% 43,090 $4.4M No change
ELV Elevance Health Inc. 1.09% 10,040 $3.9M No change
AEM Agnico Eagle Mines Ltd. 0.99% 30,000 $3.6M No change
SELF Global Self Storage Inc. 0.71% 479,042 $2.6M Add +4.2%
BRK.B Berkshire Hathaway Inc. Class B 0.69% 5,100 $2.5M No change
JPM JPMorgan Chase & Co. 0.55% 6,800 $2.0M No change
EXR Extra Space Storage Inc. 0.41% 10,027 $1.5M No change
GLD SPDR Gold Shares 0.29% 3,465 $1.1M No change
NEM Newmont Corp. 0.29% 18,000 $1.0M Add +30.0%
RGLD Royal Gold Inc. 0.26% 5,300 $943K No change
BBW Build-A-Bear Workshop Inc. 0.24% 16,500 $851K No change
META Meta Platforms Inc. Class A 0.24% 1,150 $849K No change
FNV Franco-Nevada Corp. 0.21% 4,600 $754K Add +78.3%
SLV iShares Silver Trust 0.20% 22,320 $732K No change
TFPM Triple Flag Precious Met 0.20% 30,000 $711K New
QCOM Qualcomm Inc. 0.19% 4,200 $669K New
CUBE Cubesmart 0.17% 14,000 $595K No change
PSA Public Storage 0.14% 1,700 $499K No change
GOOG Alphabet Inc. Class C 0.03% 574 $101K No change
MXE Mexico Equity and Income FD 0.02% 6,000 $63K No change
SPE Special Opportunities Fund 0.01% 2,000 $31K No change
BRW Saba Capital Income & Opport 0.01% 3,600 $29K No change
SWZ Total Return Securities Fund 0.01% 3,270 $21K No change
PCF High Income Securities Fund 0.00% 662 $4K No change
CEFS Saba Opport Hedg Cef ETF-Usd 0.00% 100 $2K No change
SABA Saba Capital Income & Opp II 0.00% 17 $156 No change
SVVC Firsthand Technology Value 0.00% 100 $6 No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $5K (not counted above)
SecurityClassShares / PrincipalValueChange
SPECIAL OPPORTUNITY FUND (SPE 2.75 01/27/27 C) 2.75% CNV PFD C 200$5KNo change

Total filed on the 13F, all lines: $359.6M.

Portfolio Sells Q1 2025 → Q2 2025
VLO Valero Energy Corp. Sold out 0.00% −2.22
INSW International Seaways Inc. Sold out 0.00% −1.77
RIO Rio Tinto PLC-Spon ADR Sold out 0.00% −1.34
POOL Pool Corp. Sold out 0.00% −0.69
CGAU Centerra Gold Inc. Sold out 0.00% −0.14
ATKR Atkore Inc. Sold out 0.00% −0.01

Portfolio Buys Q1 2025 → Q2 2025
IAG Iamgold Corp. Add +1053.7% 2.55% +2.34
ALSN Allison Transmission Holding New 2.10% +2.10
PYPL PayPal Holdings Inc. New 1.53% +1.53
NGD New Gold Inc. Add +5.4% 2.89% +0.64
KGC Kinross Gold Corp. Add +2.0% 3.54% +0.48
WPM Wheaton Precious Metals Corp. Add +4.6% 3.21% +0.31
TFPM Triple Flag Precious Met New 0.20% +0.20
QCOM Qualcomm Inc. New 0.19% +0.19
NEM Newmont Corp. Add +30.0% 0.29% +0.09
FNV Franco-Nevada Corp. Add +78.3% 0.21% +0.09
SELF Global Self Storage Inc. Add +4.2% 0.71% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 55$451.6MLRCX, STLD, GOOGL, IBKR, WSM
Q1 2026 53$346.6MGOOGL, STLD, LRCX, IAG, IBKR
Q4 2025 55$374.9MGOOGL, STLD, AZO, IBKR, WSM
Q3 2025 54$412.4MAZO, GOOGL, STLD, IBKR, WSM
Q2 2025 54$359.6MAZO, STLD, GOOGL, LPLA, WSM
Q1 2025 56$329.0MAZO, STLD, WSM, GOOGL, LPLA
Q4 2024 54$309.0MAZO, WSM, GOOGL, STLD, LPLA
Q3 2024Amended 53$297.2MAZO, STLD, WSM, NMIH, GOOGL
Q2 2024 57$293.2MSTLD, AZO, GOOGL, WSM, NMIH
Q1 2024 63$351.3MSTLD, AZO, WSM, CACC, GOOGL