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Who owns the most stock in walmart?

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As of March 31, 2011, the top three shareholders in Walmart (WMT) were:
Jim C. Walton - 10,493,219 shares
Alice L. Walton - 6,977,266 shares
S. Robson Walton - 2,843,997 shares

More significant, however, are the 1.68 billion (yes, billion) shares in joint ownership among these three and two Walton estate/estate trusts.

These are the only owners of 5% or more of WMT stock. Other than Jim C. and S. Robson, three other corporate directors own more than 1 million shares:

H. Lee Scott, Jr. - 3,560,065
Gregory B. Penner - 1,889,963
Michael T. Duke - 1,762,351

This information is taken from SEC Form DEF 14A, Definitive Notice and Proxy Statement, available through the SEC EDGAR system. (your tax dollars at work!) Highly recommended reading, since it also includes compensation for top executives, such as CEO Michael Duke's $66M+ total compensation over the past three years.
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