Private company
Who owns NagraStar L.L.C.
One company in the researched set discloses a stake in NagraStar L.L.C., worth $0 between them. NagraStar L.L.C. is private, so no 13F reports it: a 13F covers exchange listed positions only. These figures exist because each holder disclosed the stake in its own filings.
NagraStar L.L.C. - Profile
- Type
- joint venture
- Based in
- United States
NagraStar L.L.C. is a conditional access and content security venture based in Englewood, Colorado, formed by the satellite television operator EchoStar and the Swiss digital security group Kudelski, whose Nagra division supplies the underlying encryption technology. It provides the encryption and related security systems that restrict pay television programming to paying subscribers, supplying three main technologies to its customers: security microchips, set top box software and uplink computer systems, alongside end to end platform security testing. Its customers are the DISH satellite service in the United States and Bell TV in Canada. NagraStar also runs the anti piracy enforcement programme for those two operators, investigating unauthorised set top devices and pirate IPTV services and pursuing sellers and subscribers through settlement demands and litigation in the United States courts.
Source
NagraStar L.L.C. files nothing with the SEC, so none of this comes from a filer record. The description was written for this site in August 2026 from DISH DBS Corporation Form 10-Q, quarter ended 30 June 2025 (SEC EDGAR), DISH and Bell IPTV Pirates Are Pressed to Settle Or Face Legal Action (TorrentFreak) and DISH, NagraStar and the cooperation clause (Vondran Legal). The ownership figures below come from the holders' filings instead, and are sourced row by row.
The disclosed stakes
One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.
Where each figure comes from
A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.
- EchoStar Corporation, as of 30 Jun 2026. FY2025 10-K describes a direct 50% equity-method interest ('We own a 50% interest in NagraStar L.L.C. ... a joint venture that is our primary provider of encryption and related security systems'). The Q2 2026 10-Q shows this interest moved with the DISH DBS Pay-TV business: 'The DISH DBS Deconsolidated Subsidiaries own a 50% interest in NagraStar L.L.C. ... Effective June 30, 2026, we have deconsolidated our investment in NagraStar.' DISH DBS and DISH Wireless went through a jointly-administered Prepackaged Chapter 11 restructuring and were deconsolidated from EchoStar's financial statements as of 30 Jun 2026; EchoStar's retained noncontrolling equity investment in the whole deconsolidated bundle (which includes this NagraStar interest) was fair-valued at $0 using Level 3 inputs because the bundle's liabilities exceeded its assets. So the 50% economic interest still legally exists but carries no attributed value on EchoStar's own books as of the latest balance sheet, and it is not visible to shareholders through the DISH DBS entities' bankruptcy. Value_usd of 0 reflects that fair-value determination, not a null/unsized gap. sourcesource 2
What this page is not
It is not a complete register. It lists the holders who happen to be inside the researched set and disclosed the stake themselves. A private company can have many other shareholders, and nothing here rules them out: venture investors, founders and employees usually appear in no public filing at all. Percentages are of NagraStar L.L.C. where a holder stated one, and are missing where no holder did.