Vanguard reports 6.36% stake in Garmin

Garmin Ltd reports a 13G filing showing Vanguard Capital Management beneficially owns 12,244,166 shares of Common Stock, representing 6.36% of the class.

Rhea-AI Filing Summary

Garmin Ltd reports a 13G filing showing Vanguard Capital Management beneficially owns 12,244,166 shares of Common Stock, representing 6.36% of the class.

Vanguard Capital Management reports sole voting power for 1,621,010 shares and sole dispositive power for 12,244,166 shares. The filing notes these holdings include securities managed on behalf of Vanguard funds and affiliates; the filing is signed by Ashley Grim on 04/28/2026.

Insights

Institutional Ownership Analyst

Vanguard holds a meaningful passive stake of 6.36% in Garmin, reported via Schedule 13G.

Schedule 13G filings indicate passive institutional ownership when thresholds and conditions are met; the filing lists 12,244,166 shares and states dispositive power exercised through pooled funds and managed accounts. The position is reported as beneficial ownership on behalf of Vanguard-managed vehicles.

Monitor future filings for any conversion to an active Schedule 13D or material changes in voting/dispositive power. Timing of further disclosures depends on Vanguard's investment posture and regulatory triggers.

Securities Compliance Specialist

The filing follows SEC Release No. 34-39538 disclosure conventions for aggregated affiliate holdings.

The statement explains inclusion of holdings from Vanguard affiliates and funds where Vanguard Capital Management exercises dispositive power. It also affirms no other single person holds >5% of the reported securities.

Key compliance items: the report is signed and dated 04/28/2026. Subsequent changes in ownership above reporting thresholds would require amended filings under SEC rules.

Key Figures

Beneficial ownership: 12,244,166 shares Percent of class: 6.36% Sole voting power: 1,621,010 shares +2 more

5 metrics

Beneficial ownership 12,244,166 shares Amount beneficially owned (Item 4)

Percent of class 6.36% Percent of class (Item 4)

Sole voting power 1,621,010 shares Sole power to vote (Item 4(i))

Sole dispositive power 12,244,166 shares Sole power to dispose (Item 4(iii))

Filing signature date 04/28/2026 Signature date on Schedule 13G

Key Terms

Schedule 13G, Beneficially owned, Sole dispositive power, SEC Release No. 34-39538

4 terms

Schedule 13G regulatory

"Schedule 13G filing reporting beneficial ownership in Garmin"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficially owned financial

"Amount beneficially owned: 12244166 (Item 4)"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 12244166"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SEC Release No. 34-39538 regulatory

"In accordance with SEC Release No. 34-39538 (January 12, 1998)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Vanguard Capital Management report in Garmin (GRMN)?

Vanguard reports beneficial ownership of 12,244,166 shares, or 6.36% of Garmin's common stock. The filing lists sole voting power for 1,621,010 shares and sole dispositive power for 12,244,166 shares, per the Schedule 13G.

Does Vanguard report voting control over Garmin shares?

Yes; Vanguard reports sole voting power for 1,621,010 shares. The filing also reports sole dispositive power for 12,244,166 shares, reflecting investment management authority across Vanguard funds and accounts.

Is Vanguard filing as a passive investor or active stakeholder in Garmin?

The filing is a Schedule 13G, which is used by institutional investors reporting passive ownership. It states holdings are exercised through Vanguard funds and affiliates consistent with passive institutional reporting conventions.

When was the Schedule 13G signed for Vanguard's Garmin holding?

The Schedule 13G was signed by Ashley Grim (Head of Global Fund Administration) on 04/28/2026. The filing references Garmin's CUSIP H2906T109 and reports ownership figures in Item 4.

Does the filing identify other persons with >5% interest in Garmin?

No single other person's interest exceeds 5% according to Item 6 of the filing. The filing notes that Vanguard manages shares on behalf of funds and accounts but states no other person known has a >5% interest in the reported securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/28/2026 - 10:17 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Garmin Ltd

(Name of Issuer)

Common Stock

(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

Vanguard Capital Management

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,621,010.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 12,244,166.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,244,166.00

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)

6.36 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Capital Management LLC and the following affiliates of Vanguard Capital Management LLC or business divisions of such affiliates: Vanguard Asset Management Limited, Vanguard Fiduciary Trust Company, Vanguard Global Advisers, LLC and Vanguard Investments Australia Ltd. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Capital Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Capital Management LLC, or business divisions of such subsidiaries, whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Garmin Ltd
(b)	Address of issuer's principal executive offices: Muhlentalstrasse 2, Schaffhausen, V8, 8200
Item 2.
(a)	Name of person filing: Vanguard Capital Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 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: 12244166
(b)	Percent of class: 6.36 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1621010
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 12244166
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Capital Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

Vanguard Capital Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/28/2026