Garmin Ltd owners report beneficial ownership of 18,679,550 Registered Shares (9.68% of class) as shown on Amendment No. 21 to Schedule 13G/A. The filing states Min H. Kao and Yu‑Fan C. Kao share voting and dispositive power over those shares through co‑trustee roles in the M&F Trust (6,236,756 shares) and revocable trusts for their children (11,942,319 shares), with an additional 500,475 shares held by the Kao Family Foundation. The filing is dated 03/31/2026 and signed 04/15/2026.
Positive
None.
Negative
None.
Insights
Ownership disclosed via co‑trustee arrangements; voting and dispositive power is shared.
The filing identifies 18,679,550 Registered Shares (9.68%) tied to two individuals through trustee roles, split across the M&F Trust, revocable trusts for family members, and a family foundation. The statements include express disclaimers of beneficial ownership for foundation‑held shares.
Because control is reported as shared voting and dispositive power, subsequent voting outcomes involving these shares will depend on the trustees acting together; timing and any transfers are not specified in the excerpt.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 21)
GARMIN LTD
(Name of Issuer)
Registered Shares
(Title of Class of Securities)
H2906T109
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
H2906T109
1
Names of Reporting Persons
KAO MIN H
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
18,679,550.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
18,679,550.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
18,679,550.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.7 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
H2906T109
1
Names of Reporting Persons
KAO YU-FAN C
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
18,679,550.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
18,679,550.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
18,679,550.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
Address or principal business office or, if none, residence:
1200 East 151st Street, Olathe, Kansas 66062 (for each person listed in 2(a)(i) and 2(a)(ii))
(c)
Citizenship:
USA (for each person listed in 2(a)(i) and 2(a)(ii))
(d)
Title of class of securities:
Registered Shares
(e)
CUSIP No.:
H2906T109
Item 3.
If this statement is filed pursuant to §§ 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 (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
(1) Of the 18,679,550 Registered Shares:
- 6,236,756 Registered Shares are held by the M&F Trust dated October 17, 2019, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and share voting and dispositive power with respect to those Registered Shares;
- 11,942,319 Registered Shares are held by revocable trusts established by Jennifer Kao and Kenneth Kao, the children of Min H. Kao and Yu-Fan C. Kao, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and together share voting and dispositive power with respect to those Registered Shares; and
- 500,475 Registered Shares are held by the Kao Family Foundation, a charitable foundation of which Min H. Kao is president and a director and in such capacity may be deemed to exercise shared voting and dispositive power over such Registered Shares. Min H. Kao disclaims beneficial ownership of the Registered Shares held by the Kao Family Foundation and nothing herein shall be construed as an admission that Min H. Kao is the beneficial owner of such Registered Shares.
(2) Of the 18,679,550 Registered Shares:
- 6,236,756 Registered Shares are held by the M&F Trust dated October 17, 2019, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and share voting and dispositive power with respect to those Registered Shares;
- 11,942,319 Registered Shares are held by revocable trusts established by Jennifer Kao and Kenneth Kao, the children of Min H. Kao and Yu-Fan C. Kao, for which Min H. Kao and Yu-Fan C. Kao are co-trustees and together share voting and dispositive power with respect to those Registered Shares; and
- 500,475 Registered Shares are held by the Kao Family Foundation, a charitable foundation of which Yu-Fan C. Kao is a director and in such capacity may be deemed to exercise shared voting and dispositive power over such Registered Shares. Yu-Fan C. Kao disclaims beneficial ownership of the Registered Shares held by the Kao Family Foundation and nothing herein shall be construed as an admission that Yu-Fan C. Kao is the beneficial owner of such Registered Shares.
(b)
Percent of class:
Min H. Kao - 9.68%
Yu-Fan C. Kao - 9.68%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Min H. Kao - 0
Yu-Fan C. Kao - 0
(ii) Shared power to vote or to direct the vote:
Min H. Kao - 18,679,550
Yu-Fan C. Kao - 18,679,550
(iii) Sole power to dispose or to direct the disposition of:
Min H. Kao - 0
Yu-Fan C. Kao - 0
(iv) Shared power to dispose or to direct the disposition of:
Min H. Kao - 18,679,550
Yu-Fan C. Kao - 18,679,550
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary 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.
Certifications:
Not Applicable
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.
KAO MIN H
Signature:
/s/ Min H. Kao
Name/Title:
Min H. Kao
Date:
04/15/2026
KAO YU-FAN C
Signature:
/s/ Yu-Fan C. Kao
Name/Title:
Yu-Fan C. Kao
Date:
04/15/2026
Comments accompanying signature: Pursuant to the Joint Filing Agreement with respect to Schedule 13G attached hereto as Exhibit 1, among Min H. Kao and Yu-Fan C. Kao, this statement on Schedule 13G is filed on behalf of each of them.
