Garmin Ltd.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 997 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Garmin Ltd. is domiciled in Schaffhausen, Switzerland, but files with the SEC as a US domestic filer (10-K, 10-Q, DEF 14A, not 20-F/6-K), trades on the NYSE under GRMN, and its Q2 FY2026 10-Q (filed 29 Jul 2026, covering the 13 weeks ended 27 Jun 2026) postdates the DEF 14A (22 Apr 2026), so the 10-Q's shares-outstanding-as-of-24-Jul-2026 figure (192,852,536) is used as company.shares_outstanding and as the denominator for the institutional 13F rows; the proxy's own 10 Apr 2026 figure (192,883,365) is used only for the proxy's own insider percentages, which are quoted as filed.
• Founder/insider concentration is the story here: Min H. Kao (co-founder, former CEO, current Executive Chairman) beneficially owns 9.7% and Jonathan C. Burrell (director) 5.0%, almost entirely through family trusts, and the full Directors and Executive Officers group holds 14.8%. Garmin's other co-founder, Gary Burrell, is deceased; the proxy does not itself state that Jonathan C. Burrell is Gary Burrell's son, so that relationship is not asserted here as filed fact.
• Holdings side is empty. Searched the FY2025 10-K (filed 18 Feb 2026, period ended 27 Dec 2025) for 'equity method', 'equity securities', 'non-marketable', 'strategic investment', 'cost method', 'minority interest', 'equity investment', 'joint venture', 'unconsolidated', and 'affiliate': the only equity-related disclosures are treasury-style cash management (U.S. Treasury/agency/corporate available-for-sale marketable securities) and Garmin's own share repurchases, not stakes in other operating companies. Exhibit 21 (grmn-ex21_1.htm) is a bare subsidiary name list with no ownership-percentage column, consistent with all subsidiaries being wholly owned, so this is treated as a genuine negative finding rather than a gap.
• Register self-gate, computed from this final file exactly as the chart computes it: 15 rows, raw share total before de-duplication 93,170,055; the 'Directors and Executive Officers as a Group' aggregate is reduced to its 258,342-share residual (its two named members, Kao and Burrell, are excluded from the aggregate and counted once each at full value) giving a charted total of 92,911,713 shares, 48.18% of shares_outstanding (192,852,536). This is above the routine 25-45% band the brief describes but under its 55% ceiling; the excess versus a typical S&P 500 register is explained by Garmin's unusually large trust-held founder/director stakes (Kao + Burrell alone are 14.7%) stacked on top of an ordinary ~33.3% institutional base (Vanguard, BlackRock, State Street, Artisan, Geode, FMR, AllianceBernstein, Morgan Stanley, Northern Trust, Dimensional, JPMorgan, T. Rowe Price Associates).
• Capital Group was checked and holds nothing. Its three primary registrants, Capital World Investors (CIK 0001422849), Capital International Investors (CIK 0001562230), and Capital Research Global Investors (CIK 0001422848), were each checked against their own Q2 2026 13F-HR information tables; none contains a Garmin row. No register row was added for Capital Group (a checked-and-zero holder is a note here, not a null row). The further Capital International registrants that other companies' research turned up beyond these three were not individually checked.
• The project's own 31 Mar 2026 register snapshot (data/registers/GRMN.json) was used only to enumerate WHICH entities to check (the Vanguard family list, plus institution names/CIKs for BlackRock, State Street, Artisan, Geode, Fidelity/FMR, AllianceBernstein, Morgan Stanley, Northern Trust, Dimensional, JPMorgan), never for the share figures themselves; every figure in this file comes from that holder's own freshly fetched Q2 2026 (period 2026-06-30) 13F-HR filing. The snapshot omitted both Capital Group and T. Rowe Price entirely, consistent with this project's known note that the snapshot can be incomplete.