The disclosed positions are held through family trusts and a charitable foundation, while both reporting persons list shared voting and dispositive power.
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Garmin Ltd (GRMN) is the issuer in an amended ownership report by Min H. Kao and Yu-Fan C. Kao; each reports beneficial ownership of 18,662,265 registered shares, or 9.68% of the class. Both report shared voting and dispositive power over 18,662,265 shares and no sole voting or dispositive power. The reported shares are held by the M&F Trust, trusts established by Jennifer Kao and Kenneth Kao, and the Kao Family Foundation. Both filers disclaim beneficial ownership of the Foundation shares.
Key Figures
Beneficially owned registered shares:18,662,265 shares eachPercent of class:9.68% eachShares held by M&F Trust:6,223,003 shares+2 more
5 metrics
Beneficially owned registered shares18,662,265 shares eachReported by Min H. Kao and Yu-Fan C. Kao
Percent of class9.68% eachReported by Min H. Kao and Yu-Fan C. Kao
Shares held by M&F Trust6,223,003 sharesTrust dated October 17, 2019
Shares held by revocable trusts11,927,217 sharesTrusts established by Jennifer Kao and Kenneth Kao
Shares held by Kao Family Foundation512,045 sharesBeneficial ownership disclaimed by both reporting persons
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared voting powerfinancial
"Shared power to vote or to direct the vote"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"Shared power to dispose or to direct the disposition of"
Joint Filing Agreementtechnical
"Pursuant to the Joint Filing Agreement"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many GRMN shares do Min H. Kao and Yu-Fan C. Kao report?
Each reports beneficial ownership of 18,662,265 registered shares, equal to 9.68% of the class.
How are the GRMN shares held?
Of the reported shares, 6,223,003 are held by the M&F Trust dated October 17, 2019; 11,927,217 are held by revocable trusts established by Jennifer Kao and Kenneth Kao; and 512,045 are held by the Kao Family Foundation. Min H. Kao and Yu-Fan C. Kao are co-trustees of the first two trusts. Both disclaim beneficial ownership of the Foundation shares.
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 18,662,265 Registered Shares:
- 6,223,003 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;
- 11,927,217 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
- 512,045 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 18,662,265 Registered Shares:
- 6,223,003 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;
- 11,927,217 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
- 512,045 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 - 18,662,265
Yu-Fan C. Kao - 18,662,265
(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 - 18,662,265
Yu-Fan C. Kao - 18,662,265
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:
10/12/2026
KAO YU-FAN C
Signature:
/s/ Yu-Fan C. Kao
Name/Title:
Yu-Fan C. Kao
Date:
10/12/2026
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.
