diff --git a/tools/Makefile b/tools/Makefile
index d3d4593a50c..4e7ef5db830 100644
--- a/tools/Makefile
+++ b/tools/Makefile
@@ -71,6 +71,8 @@ endif
 # On Win32, loadable modules can be built with ENABLE_SHARED.
 ifneq ($(ENABLE_SHARED),1)
   ifneq (,$(filter $(HOST_OS), Cygwin MingW))
+    DIRS := $(filter-out llvm-lto, \
+                        $(DIRS))
     PARALLEL_DIRS := $(filter-out bugpoint-passes, \
                         $(PARALLEL_DIRS))
   endif