Goldman Sachs reports 10% stake in QVC Group

QVC Group, Inc. disclosed that The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC have become more than ten percent owners of the company’s 8.0% Series A Cumulative Redeemable Preferred Stock.

Rhea-AI Filing Summary

QVC Group, Inc. disclosed that The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC have become more than ten percent owners of the company’s 8.0% Series A Cumulative Redeemable Preferred Stock. The filing reports indirect beneficial ownership of 2,966,150 preferred shares, 10,277 Series A common shares, and 16 Series B common shares, all held through Goldman Sachs, with GS Group as its parent. The reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider GOLDMAN SACHS GROUP INC, GOLDMAN SACHS & CO. LLC

Role 10% Owner | 10% Owner

Type	Security	Shares	Price	Value
holding	8.0% Series A Cumulative Redeemable Preferred Stock	--	--	--
holding	Series A Common Stock	--	--	--
holding	Series B Common Stock	--	--	--

Holdings After Transaction: 8.0% Series A Cumulative Redeemable Preferred Stock — 2,966,150 shares (Indirect, See Footnotes); Series A Common Stock — 10,277 shares (Indirect, See Footnotes); Series B Common Stock — 16 shares (Indirect, See Footnotes)

Footnotes (2)

1. F1. This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein. On April 17, 2026, the Reporting Persons experienced an increase in their beneficial ownership of QVC Group, Inc. (the "Issuer") to above 10% of the outstanding 8.0% Series A Cumulative Redeemable Preferred Stock ("Preferred Stock").
2. F2. The Preferred Stock, Series A Common Stock, and Series B Common Stock of the Issuer reported herein as indirectly purchased were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

Key Figures

Preferred shares owned: 2,966,150 shares Series A common shares owned: 10,277 shares Series B common shares owned: 16 shares +2 more

5 metrics

Preferred shares owned 2,966,150 shares 8.0% Series A Cumulative Redeemable Preferred Stock, indirect beneficial ownership

Series A common shares owned 10,277 shares Series A Common Stock, indirect beneficial ownership

Series B common shares owned 16 shares Series B Common Stock, indirect beneficial ownership

Ownership threshold crossed Above 10% Beneficial ownership of 8.0% Series A Preferred as of April 17, 2026

Form type Form 3 Initial statement of beneficial ownership by ten percent owners

Key Terms

beneficial ownership, pecuniary interest, 8.0% Series A Cumulative Redeemable Preferred Stock, ten percent owner, +1 more

5 terms

beneficial ownership financial

"Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein."

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.

pecuniary interest financial

"disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein."

8.0% Series A Cumulative Redeemable Preferred Stock financial

"above 10% of the outstanding 8.0% Series A Cumulative Redeemable Preferred Stock ("Preferred Stock")."

ten percent owner financial

"experienced an increase in their beneficial ownership of QVC Group, Inc. ... to above 10% of the outstanding 8.0% Series A Cumulative Redeemable Preferred Stock"

indirectly purchased financial

"reported herein as indirectly purchased were beneficially owned directly by Goldman Sachs and indirectly by GS Group."

FAQ

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

What did Goldman Sachs disclose in this Form 3 for QVCGA?

Goldman Sachs disclosed indirect beneficial ownership of QVC Group stock. It reported 2,966,150 preferred shares, 10,277 Series A common shares, and 16 Series B common shares, all held through Goldman Sachs & Co. LLC and indirectly by The Goldman Sachs Group, Inc.

Why is Goldman Sachs considered a ten percent owner of QVC Group (QVCGA)?

Goldman Sachs became a ten percent owner after its beneficial ownership of QVC Group’s 8.0% Series A Cumulative Redeemable Preferred Stock rose above 10%. Crossing this threshold triggers Form 3 reporting requirements for significant holders under U.S. securities rules.

How many QVC Group preferred shares does Goldman Sachs report owning?

Goldman Sachs reports indirect beneficial ownership of 2,966,150 shares of QVC Group’s 8.0% Series A Cumulative Redeemable Preferred Stock. These preferred shares are held directly by Goldman Sachs & Co. LLC and indirectly by The Goldman Sachs Group, Inc. as its parent company.

What common stock holdings in QVCGA did Goldman Sachs report?

Goldman Sachs reported indirect beneficial ownership of 10,277 shares of QVC Group Series A Common Stock and 16 shares of Series B Common Stock. These equity positions are held through Goldman Sachs & Co. LLC, with The Goldman Sachs Group, Inc. as the indirect owner.

Does Goldman Sachs claim full beneficial ownership of its QVC Group shares?

No. The filing states that the reporting persons disclaim beneficial ownership of the QVC Group securities except to the extent of their pecuniary interest. This language limits their claimed economic and legal interest in the reported preferred and common shares.

Who actually holds the QVC Group shares reported in this Form 3?

The QVC Group shares are held directly by Goldman Sachs & Co. LLC and indirectly by The Goldman Sachs Group, Inc. The filing clarifies that the preferred and common stock positions are beneficially owned through this subsidiary–parent structure rather than by individuals.

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Accepted by SEC EDGAR 04/22/2026 - 08:05 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

GOLDMAN SACHS GROUP INC

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/17/2026

3. Issuer Name and Ticker or Trading Symbol
QVC Group, Inc. [ QVCGP ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
8.0% Series A Cumulative Redeemable Preferred Stock	2,966,150	I	See Footnotes(1)(2)
Series A Common Stock	10,277	I	See Footnotes(1)(2)
Series B Common Stock	16	I	See Footnotes(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

GOLDMAN SACHS GROUP INC

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

GOLDMAN SACHS & CO. LLC

(Last) (First) (Middle)

200 WEST STREET

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman Sachs & Co. LLC. ("Goldman Sachs" and, together with GS Group, the "Reporting Persons"). Goldman Sachs is a wholly-owned subsidiary of GS Group. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein. On April 17, 2026, the Reporting Persons experienced an increase in their beneficial ownership of QVC Group, Inc. (the "Issuer") to above 10% of the outstanding 8.0% Series A Cumulative Redeemable Preferred Stock ("Preferred Stock").

2. The Preferred Stock, Series A Common Stock, and Series B Common Stock of the Issuer reported herein as indirectly purchased were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

Remarks:

	/s/ Crystal Orgill, Attorney-in-fact	04/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)