Schwab holds 12.33% of QVC Group (QVCGA) in passive stake filing update

Rhea-AI Filing Summary

Charles Schwab Investment Management, Inc. reported beneficial ownership of 995,190 shares of QVC Group, Inc. Series A Common Stock, representing 12.33% of the class as of the event date of 12/31/2025. The firm has sole power to vote and dispose of all these shares, with no shared voting or dispositive power. The filing states the securities were acquired and are held in the ordinary course of business, without the purpose or effect of changing or influencing control of QVC Group. Charles Schwab Investment Management is the investment adviser to the Schwab Fundamental U.S. Large Company ETF, which itself owns 7.90% of the security reported.

Insights

Institutional Ownership Analyst

Schwab discloses a 12.33% passive stake in QVC Group.

Charles Schwab Investment Management, Inc. reports beneficial ownership of 995,190 Series A Common shares of QVC Group, Inc., equal to 12.33% of the class as of the 12/31/2025 event date. The firm holds sole voting and dispositive power over these shares, with no shared authority, indicating centralized control of this position within the adviser.

The disclosure is made on a Schedule 13G/A, which is used for holdings certified as being acquired and held in the ordinary course of business without the purpose or effect of changing or influencing control. The text explicitly states this passive intent and notes that Schwab acts as investment adviser to the Schwab Fundamental U.S. Large Company ETF, which owns 7.90% of the security reported.

This filing mainly updates the market on the size and nature of institutional ownership. It confirms a significant but passive institutional position rather than an activist or control-seeking stake, and it attributes a substantial portion of the ownership to a specific ETF advised by Schwab.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

QVC Group, Inc.

(Name of Issuer)

Series A Common Stock

(Title of Class of Securities)

74915M605

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 74915M605

1

Names of Reporting Persons

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 995,190.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 995,190.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

995,190.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

12.33 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: QVC Group, Inc.
(b)	Address of issuer's principal executive offices: 1200 WILSON DRIVE, WEST CHESTER, PENNSYLVANIA 19380
Item 2.
(a)	Name of person filing: CHARLES SCHWAB INVESTMENT MANAGEMENT INC
(b)	Address or principal business office or, if none, residence: 9800 Schwab Way Lone Tree, CO 80124
(c)	Citizenship: CHARLES SCHWAB INVESTMENT MANAGEMENT INC - DELAWARE
(d)	Title of class of securities: Series A Common Stock
(e)	CUSIP No.: 74915M605
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 995,190
(b)	Percent of class: 12.33 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 995,190
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 995,190
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Charles Schwab Investment Management, Inc. is the investment adviser of the Schwab Fundamental U.S. Large Company ETF, a registered investment company under the Investment Company Act of 1940, as amended, which owns 7.90% of the security reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

Signature:	/s/ Omar Aguilar
Name/Title:	Omar Aguilar/Chief Executive Officer
Date:	01/06/2026

FAQ

How many QVC Group (QVCGA) shares does Charles Schwab Investment Management beneficially own?

Charles Schwab Investment Management, Inc. reports beneficial ownership of 995,190 shares of QVC Group, Inc. Series A Common Stock.

What percentage of QVC Group Series A Common Stock does Schwab’s holding represent?

The filing states that Charles Schwab Investment Management’s position represents 12.33% of the outstanding class of QVC Group Series A Common Stock.

Does Charles Schwab Investment Management have voting and dispositive power over its QVC Group shares?

Yes. The firm reports sole voting power over 995,190 shares and sole dispositive power over 995,190 shares, with no shared voting or dispositive power.

Is Charles Schwab Investment Management’s stake in QVC Group classified as passive or control-seeking?

The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of QVC Group.

What role does the Schwab Fundamental U.S. Large Company ETF play in this QVC Group holding?

Charles Schwab Investment Management, Inc. is the investment adviser to the Schwab Fundamental U.S. Large Company ETF, which the filing notes owns 7.90% of the QVC Group security reported.

What type of SEC filing is this QVC Group ownership disclosure by Schwab?

This disclosure is an Amendment No. 2 to Schedule 13G, used to report beneficial ownership of more than 5% of a class of equity securities on a passive basis.