What smart money is saying about Garmin
5 funds in our archive have pitched Garmin, most recently Bristolgate US Equity Strategy in September 2026.
Garmin Ltd. specializes in the design, development, manufacturing, marketing, and global distribution of diverse wireless products and solutions. Its operations span across North and South America, the Asia Pacific region, the Australian Continent, Europe, the Middle East, and Africa. The company's offerings are organized into several key segments: Fitness: This division caters to athletes and active individuals with products like specialized running and multi-sport watches, cycling computers, activity trackers, smartwatches, and various fitness-related accessories. Additionally, it supports these offerings with its Garmin Connect web and mobile platforms, alongside Connect IQ, an ecosystem for app development. Outdoor: Garmin's Outdoor category features rugged adventure watches, portable GPS devices, golf-specific instruments and accompanying mobile applications, plus specialized dog tracking and training systems. Aviation: The Aviation sector delivers comprehensive avionics solutions for aircraft, encompassing integrated cockpit systems, advanced flight displays and instrumentation, navigation and communication tools, automated flight controls, safety enhancements, audio management, engine monitoring, traffic and weather avoidance systems, ADS-B transponders, data connectivity, portable GPS navigators, wearable aviation devices, and related support services. Marine: For the Marine market, Garmin provides a suite of solutions including chartplotters, multi-function displays, marine cartography, fish finders, sonar technology, autopilots, radar systems, compliant instrumentation and sensors, VHF radios, handheld and wearable marine devices, sailing-specific products, onboard entertainment, digital switching, and electric trolling motors. Auto: The Automotive segment focuses on in-vehicle computing and infotainment systems, personal navigation units, and various camera solutions. Garmin's products are distributed through a diverse network including independent and online retailers, authorized dealers, distributors, service and installation centers, original equipment manufacturers (OEMs), and directly via its official e-commerce platform, garmin.com. Established in 1989, Garmin Ltd. maintains its corporate headquarters in Schaffhausen, Switzerland.
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Position history
Between Q4 2024 and Q3 2026, 9 fund letters reported a position in Garmin, with 1 buy (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 6 | 1 | 0 | 4 |
| Q2 2026 | 1 | 0 | 0 | 1 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2024 | 1 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions · 2 moves
- September 2026
“Garmin (GRMN) Garmin continues to differentiate through a portfolio of specialized products spanning fitness, outdoor recreation, marine, and aviation markets.”
Garmin - September 2026
“While our consumer discretionary shorts collectively contributed to performance, Garmin and Cheesecake Factory detracted, as both companies continue to see surprisingly strong demand.”
Garmin - September 2026
“While the stock market keeps marching forward, the rally is not broad. A handful of sectors have had an outsized positive impact on the indices so far this year. In Japan and Europe, it’s been tech and financials; in emerging markets, tech. Most other equities have declined without any apparent changes to the underlying businesses and their prospects. In effect, the data-center boom, rising interest rates and rising oil prices have been driving the market at the expense of everything else. In our view, that is creating interesting valuation gaps. We made no new investments in the quarter, but we have been actively taking advantage of the market’s tunnel vision. We have been shifting capital away from the stocks caught up in the narrow rally toward those that have fallen. Thirty holdings, representing more than half the portfolio’s assets, declined during the quarter, creating plenty of opportunity for reinvestment. The largest positive contributors to return were DSM-Firmenich, Garmin and Suncor Energy.”
Garmin - September 2026
“Garmin (GRMN) Garmin continues to differentiate through a portfolio of specialized products spanning fitness, outdoor recreation, marine, and aviation markets.”
Garmin - September 2026
“Garmin was one of the clearest examples of company-specific execution overcoming a weak industry backdrop, returning approximately 24% even as the broader consumer discretionary sector declined.”
Garmin - New positionBristolgate US Equity StrategySeptember 2026
“Purchases Garmin (GRMN) Garmin, which we purchased at the end of the quarter, is a vertically integrated designer and manufacturer of GPS-enabled devices.”
Garmin - June 2026
“Garmin (GRMN): Garmin dominates the premium wearable and navigation markets by leveraging its proprietary technology across the aviation, marine, and outdoor fitness sectors.”
Garmin - March 2026
“Turning to consumer-oriented companies, we focus on market leaders that can continue to sell products and services even if higher fuel costs reduce household disposable income. We still hold a significant position in Garmin; the primary risk is that demand could soften if higher fuel prices reduce aviation and boating activity.”
Garmin - December 2024
“Exited Longs – Garmin, Kongsberg, North West, Winpak The Fund finished exiting Garmin (GRMN, technology business known for smartwatches and navigation systems) and Kongsberg (KOG-OSL, Norway-based aero/defense and maritime business), as previously noted, due to full valuations.”
Garmin
Fund coverage · 5 theses
- Bristolgate US Equity StrategySeptember 2026
Garmin has diversified end markets, vertical integration, strong capital returns, and room for durable free-cash-flow and dividend growth.
Read the full thesis - Argent Capital Management Dividend Select StrategySeptember 2026
Garmin combines durable growth across multiple product categories with better profitability and upward earnings revisions.
Read the full thesis - Artisan Partners International Value StrategySeptember 2026
Garmin makes best-in-class electronic products in niche markets and is valued for its high margins, strong free cash flow, and debt-free balance sheet.
Read the full thesis - Andrew Hill Client Account StrategySeptember 2026
Garmin has expanded into high-value niche markets with strong margins, diversification, and a debt-free balance sheet.
Read the full thesis - Andrew Hill AHIA Portfolio StrategyJune 2026
Garmin has a strong moat in premium wearables and navigation, supported by proprietary technology and long-term R&D execution.
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