We report Shubnikov-de Haas oscillations measurements revealing experimental signatures of an annular Fermi sea that develops near the energy band edge of the excited subband of two-dimensional holes confined in a wide GaAs quantum well. As we increase the hole density, when the Fermi level reaches the excited subband edge, the low-field magnetoresistance traces show a sudden emergence of new oscillations at an unexpectedly large frequency whose value does not correspond to the (negligible) density of holes in the excited subband. There is also a sharp and significant increase in zero-field resistance near this onset of subband occupation. Guided by numerical energy dispersion calculations, we associate these observations with the unusual shape of the excited subband dispersion which results in a "ring of extrema" at finite wavevectors and an annular Fermi sea. Such a dispersion and Fermi sea have long been expected from energy band calculations in systems with strong spin-orbit interaction but their experimental signatures have been elusive.The concept of a Fermi surface, the constant-energy surface containing all the occupied electron states in momentum, or wavevector (k), space plays a key role in determining electronic properties of conductors [1]. The connectivity and topology of the Fermi surface have long been of great interest [2]. In two-dimensional (2D) carrier systems, the Fermi surface becomes a "contour" which, in the simplest case, encircles the occupied states (see Fig. 1(a)). In this case, the area inside the contour, which we refer to as the Fermi sea (FS), is a simple disk. In 2D systems with multiple conduction band valleys, e.g. 2D electrons confined to Si or AlAs quantum wells (QWs) [3][4][5] or 2D electrons in a wide GaAs QW subject to very large parallel fields [6], the FS consists of a number of separate sections, each containing a fraction of the electrons in the system (Fig. 1(b)). Figure 1(c) shows yet another possible FS topology, namely an annulus. Such a FS is expected in systems with a strong Rashba spin-orbit interaction (SOI) [7][8][9][10][11][12][13][14], biased bilayer graphene [15][16][17][18], or monolayer gallium chalcogenides [19,20]. Since the electron states near the band extremum become highly degenerate, resulting in a van Hove singularity in the density of states, an annular FS has been predicted to host exotic interaction-induced phenomena and phases such as ferromagnetism [18][19][20], anisotropic Wigner crystal and nematic phases [21][22][23][24], and a persistent current state [25].Although the possibility of an annular FS has long been recognized theoretically, its direct detection has been elusive. For cases (a) and (b) in Fig. 1, the FS can readily be probed as the frequencies of the Shubnikov-de Haas (SdH) oscillations, multiplied by e/h, directly give the FS area or, equivalently, the areal density of the 2D system [4][5][6][26][27][28][29] (e is electron charge and h is the Planck constant). For the annular FS of case (c), however, it is not known how the fr...