Jonathan Burrell Maintains 18M+ Share Stake in Garmin Ltd.
Ticker: GRMN · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1121788
Complexity: simple
Sentiment: bullish
Topics: insider-ownership, amendment, large-holder, stability
TL;DR
**Big investor Jonathan Burrell still holds over 18 million Garmin shares, showing strong conviction.**
AI Summary
Jonathan Burrell, a significant individual investor, filed an Amendment No. 87 to his Schedule 13G for Garmin Ltd. (GRMN) on February 12, 2024, indicating he beneficially owns 18,001,225 shares with sole voting power as of December 31, 2023. This filing updates his previous ownership disclosures, confirming his continued substantial stake in the company. For investors, this matters because Burrell's large, consistent holding signals a long-term conviction in Garmin's value and future performance, potentially influencing market perception and stability.
Why It Matters
This filing confirms a major individual investor's continued significant ownership in Garmin, signaling confidence and stability for current and prospective shareholders.
Risk Assessment
Risk Level: low — The filing indicates a stable, large ownership stake by an individual, which generally reduces volatility risk.
Analyst Insight
A smart investor would view Jonathan Burrell's continued substantial ownership as a positive signal, suggesting long-term confidence in Garmin's fundamentals, and might consider it a factor in holding or initiating a position.
Key Numbers
- 18,001,225 — Shares Beneficially Owned (Represents Jonathan Burrell's sole voting power in Garmin Ltd. as of December 31, 2023.)
- December 31, 2023 — Date of Event (The date as of which the ownership information in the filing is reported.)
- Amendment No. 87 — Filing Amendment Number (Indicates this is a routine update to a long-standing ownership disclosure by Jonathan Burrell.)
Key Players & Entities
- Jonathan Burrell (person) — Reporting Person, beneficial owner of Garmin Ltd. shares
- Garmin Ltd. (company) — Subject Company, issuer of the securities
- 18,001,225 (dollar_amount) — Number of shares beneficially owned by Jonathan Burrell
Forward-Looking Statements
- Jonathan Burrell will maintain a significant ownership stake in Garmin Ltd. (Jonathan Burrell) — high confidence, target: Next 12-24 months
- Garmin Ltd.'s stock price will experience stability due to large insider/affiliate holdings. (Garmin Ltd.) — medium confidence, target: Next 6 months
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person in this SC 13G/A filing is Jonathan Burrell, as stated in 'NAMES OF REPORTING PERSONS' on page 2 of 7.
What company's securities are the subject of this filing?
The subject company for this filing is Garmin Ltd., as indicated by 'Garmin Ltd. (Name of Issuer)' on page 1 of 7.
How many shares of Garmin Ltd. does Jonathan Burrell beneficially own with sole voting power?
Jonathan Burrell beneficially owns 18,001,225 shares of Garmin Ltd. with sole voting power, as detailed under 'NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH SOLE VOTING POWER' on page 2 of 7.
What was the date of the event that required this filing?
The date of the event which required this filing was December 31, 2023, as specified under 'Date of Event Which Requires Filing of this Statement' on page 1 of 7.
What is the CUSIP number for Garmin Ltd. securities mentioned in the filing?
The CUSIP number for Garmin Ltd. securities is H2906T 109, as listed on page 1 and page 2 of 7 of the filing.
Filing Stats: 1,330 words · 5 min read · ~4 pages · Grade level 9.5 · Accepted 2024-02-12 15:50:39
Filing Documents
- gl-sc13ga_amendno87.htm (SC 13G/A) — 66KB
- 0001014108-24-000008.txt ( ) — 68KB
(a)
Item 1(a). Name of Issuer: Garmin Ltd.
(b)
Item 1(b). Address of Issuer's Principal Executive Offices: Mhlentalstrasse 2, 8200 Schaffhausen, Switzerland
(a)
Item 2(a). Name of Person Filing: Jonathan Burrell
(b)
Item 2(b). Address of Principal Business Office or, if none, Residence: P.O. Box 507, Stillwell, KS 66085
(c)
Item 2(c). Citizenship: USA
(d)
Item 2(d). Title of Class of Securities: Registered Shares
(e)
Item 2(e). CUSIP Number: H2906T 109 Item 3 If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing Is a(n): (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) Investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); (f) Employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) Parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); CUSIP No. H2906T 109 Page 4 of 7 (i) 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 Section 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with Section 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____________________________ . Item 4. (a) Amount beneficially owned: 18,775,059 9,223,049 of the 18,775,059 Registered Shares reported are held in several Charitable Lead Annuity Trusts, over which Registered Shares the reporting person has the sole voting and dispositive power. 8,047,147 of the 18,775,059 Registered Shares reported are held in several Grantor Retained Annuity Trusts established by the reporting person's mother, over which Registered Shares the reporting person has the sole voting and dispositive power. 96,600 of the 18,775,059 Registered Shares reported are held in the reporting p