QVC Group: GoldenTree reports 25.4% ownership

The reported position equals 25.4% of QVC Group's common stock, based on 49,999,897 shares outstanding as of August 6, 2026.

Rhea-AI Filing Summary

Funds managed by GoldenTree Asset Management purchased 1,687,779 shares of QVC Group, Inc. common stock from September 24, 2026 through October 9, 2026, for aggregate consideration of approximately $21,386,392, using working capital.

As of October 9, 2026, GoldenTree Asset Management, GoldenTree Asset Management LLC, and Steven A. Tananbaum, managing member of IMGP, each reported shared beneficial ownership of 12,679,754 shares, or 25.4% of the class. The shares are held directly by certain funds and separate accounts managed by the Investment Manager; GoldenTree Master Fund, Ltd. is the record owner of 3,987,053 shares. The ownership percentage is based on 49,999,897 shares outstanding as of August 6, 2026.

Filing Explained

GoldenTree Asset Management, its LLC, and Steven A. Tananbaum report shared voting and disposition authority over 12,679,754 shares, with no sole authority; GoldenTree Master Fund reports shared authority over 3,987,053 shares, also with no sole authority.

Key Figures

Shares purchased: 1,687,779 shares Aggregate consideration: Approximately $21,386,392 Shared beneficial ownership: 12,679,754 shares +3 more

6 metrics

Shares purchased 1,687,779 shares September 24, 2026 through October 9, 2026

Aggregate consideration Approximately $21,386,392 Purchases by the Funds from September 24, 2026 through October 9, 2026; using working capital

Shared beneficial ownership 12,679,754 shares Reported as of October 9, 2026

Ownership percentage 25.4% Based on 49,999,897 shares outstanding as of August 6, 2026

GoldenTree Master Fund record ownership 3,987,053 shares As of October 9, 2026

GoldenTree Master Fund ownership percentage 8.0% Percentage of the class reported as of October 9, 2026

Key Terms

beneficial ownership, Shared Voting Power, Shared Dispositive Power, record owner, +1 more

5 terms

beneficial ownership regulatory

"may be deemed to share beneficial ownership of the securities held of record by the Funds"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared Voting Power regulatory

"Shared Voting Power 12,679,754.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 12,679,754.00"

record owner regulatory

"GoldenTree Master Fund, Ltd. is the record owner of 3,987,053 shares"

separately managed account financial

"and a separately managed account by the Investment Manager"

A separately managed account (SMA) is a personalized investment portfolio owned by a single investor and run by a professional manager who buys and sells securities on that investor’s behalf. It matters to investors because an SMA offers tailored asset selection, tax handling, and transparency—like hiring a personal chef who prepares meals to your dietary needs rather than sharing a set menu—so you can align holdings with your goals and see exactly what you own.

FAQ

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

How many QVCG shares did GoldenTree buy, and for how much?

Funds managed by GoldenTree Asset Management purchased 1,687,779 shares of QVC Group, Inc. common stock from September 24, 2026 through October 9, 2026, for aggregate consideration of approximately $21,386,392 using working capital.

How many QVCG shares did GoldenTree beneficially own?

The reporting persons reported shared beneficial ownership of 12,679,754 shares, or 25.4% of the class as of October 9, 2026. The percentage is based on 49,999,897 shares outstanding as of August 6, 2026. GoldenTree Master Fund, Ltd. was the record owner of 3,987,053 shares.

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

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Available on EDGAR 10/14/2026 - 05:15 PM EDT Accepted by SEC EDGAR 10/14/2026 - 05:15 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

QVC GROUP, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

747292100

(CUSIP Number)

George Travers
c/o GoldenTree Asset Management LP, 300 Park Avenue, 21st Floor
New York, NY, 10022
(212) 847-3500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/09/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 747292100

1

Name of reporting person

GoldenTree Asset Management LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,679,754.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,679,754.00

11

Aggregate amount beneficially owned by each reporting person

12,679,754.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 747292100

1

Name of reporting person

GoldenTree Asset Management LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,679,754.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,679,754.00

11

Aggregate amount beneficially owned by each reporting person

12,679,754.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.4 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Limited Liability Company

SCHEDULE 13D

CUSIP Number(s): 747292100

1

Name of reporting person

Steven A. Tananbaum

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,679,754.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,679,754.00

11

Aggregate amount beneficially owned by each reporting person

12,679,754.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

25.4 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 747292100

1

Name of reporting person

GoldenTree Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,987,053.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,987,053.00

11

Aggregate amount beneficially owned by each reporting person

3,987,053.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: QVC GROUP, INC.
(c)	Address of Issuer's Principal Executive Offices: 1200 Wilson Drive, West Chester, PENNSYLVANIA , 19380.
Item 1 Comment: This Amendment No. 3 to Schedule 13D ("Amendment No. 3") amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission on August 14, 2026 (as amended to date, the "Schedule 13D"), relating to the common stock, par value $0.01 per share (the "Common Stock"), of QVC Group, Inc., a Delaware corporation (the "Issuer"). Capitalized terms used herein without definition shall have the meanings set forth in the Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	From September 24, 2026 through October 9, 2026, the Funds (as defined below) purchased an aggregate of 1,687,779 shares of Common Stock for aggregate consideration of approximately $21,386,392 using working capital.
Item 5.	Interest in Securities of the Issuer
(a)	The information contained on the cover pages to this Schedule 13D is incorporated herein by reference. The securities reported herein consist of shares of Common Stock held directly by certain funds and separate accounts managed by the Investment Manager as of October 9, 2026. GoldenTree Master Fund, Ltd. is the record owner of 3,987,053 shares of Common Stock. The ownership percentage set forth herein is based on 49,999,897 shares of Common Stock outstanding as of August 6, 2026. The Investment Manager is the investment manager or advisor to certain funds, including GoldenTree Master Fund, Ltd., and a separately managed account by the Investment Manager (the "Funds"). IMGP is the general partner of the Investment Manager. Steven A. Tananbaum is the managing member of IMGP. As a result of these relationships, each of the Investment Manager, IMGP and Mr. Tananbaum may be deemed to share beneficial ownership of the securities held of record by the Funds.
(b)	The information contained on the cover pages to this Schedule 13D is incorporated herein by reference.
(c)	From September 24, 2026 through October 9, 2026, the Funds purchased an aggregate of 1,687,779 shares of Common Stock. Details by date, listing the number of shares of Common Stock purchased and the price per share, are provided in Exhibit 8. Except as set forth in this Schedule 13D, since Amendment No. 2, the Reporting Persons have not effected any transactions in the Common Stock.
(d)	None.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 8: Trade Schedule.

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.

GoldenTree Asset Management LP

Signature:	By: GoldenTree Asset Management LLC, its General Partner, /s/ Steven A. Tananbaum
Name/Title:	Steven A. Tananbaum, Managing Member
Date:	10/14/2026

GoldenTree Asset Management LLC

Signature:	/s/ Steven A. Tananbaum
Name/Title:	Steven A. Tananbaum, Managing Member
Date:	10/14/2026

Steven A. Tananbaum

Signature:	/s/ Steven A. Tananbaum
Name/Title:	Steven A. Tananbaum
Date:	10/14/2026

GoldenTree Master Fund, Ltd.

Signature:	/s/ Peter Alderman
Name/Title:	Peter Alderman, General Counsel
Date:	10/14/2026