[SCHEDULE 13G/A] QVC Group, Inc. 8.0% Fixed Rate Cumulative Redeemable Preferred Stock SEC Filing

Rhea-AI Filing Summary

Contrarius Investment Management Limited and Contrarius Investment Management (Bermuda) Limited filed an Amendment to Schedule 13G reporting beneficial ownership of 702,768 shares of QVC Group, Inc. Series A common stock (CUSIP 74915M605), representing 8.9% of the class. The filing lists shared voting and shared dispositive power over the 702,768 shares and states the holdings were acquired and are held in the ordinary course of business and not to change or influence control of the issuer.

The filing identifies the filers' jurisdictions (Jersey and Bermuda), cites Item 6 disclosure that other persons have rights to dividends or sale proceeds for these shares, and is presented as Amendment No. 4 to a Schedule 13G. Signatures are dated 08/12/2025 and the event date requiring the filing is shown as 06/30/2025.

Positive

• Material institutional stake disclosed: Contrarius reports ownership of 702,768 shares (8.9%), exceeding the 5% reporting threshold.

Negative

• No sole voting or dispositive power: The filers report 0 sole voting and dispositive power, limiting direct control influence over QVC Group.

Insights

Financial Analyst

TL;DR: Institutional investor disclosed an 8.9% passive stake in QVC Group, indicating notable ownership without asserted control intent.

The Schedule 13G/A shows Contrarius entities jointly hold 702,768 shares (8.9%) of QVC Group Series A common stock with shared voting and dispositive power. Filing as a Schedule 13G (Amendment No. 4) and the certification language indicate the position is claimed to be passive and acquired in the ordinary course of business, which typically signals disclosure rather than an activist intent. The Item 6 note that others have rights to dividends or proceeds suggests these holdings may be held on behalf of clients or funds rather than owned outright by the filers' corporate balance sheets. For investors, the disclosure is material as it crosses the 5% threshold, warranting monitoring for any future amendments or Schedule 13D activity.

Corporate Governance Expert

TL;DR: The filing documents a material ownership stake but shows no sole voting power, limiting direct governance influence.

Both Contrarius Investment Management Limited (Jersey) and its Bermuda affiliate report shared voting/dispositive power and expressly deny sole control. The signature and certification language affirm the passive nature of the holding. From a governance perspective, the absence of sole voting authority and the disclosure that others may receive dividends or sale proceeds reduce the likelihood of immediate governance changes stemming from this position. However, the joint filing by two related entities and the grouping note mean aggregate influence should be tracked for any coordinated action or future escalation to a Schedule 13D.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

QVC Group, Inc.

(Name of Issuer)

SERIES A COMMON STOCK

(Title of Class of Securities)

74915M605

(CUSIP Number)

06/30/2025

(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

Contrarius Investment Management Ltd

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

JERSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 702,768.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 702,768.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

702,768.00

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)

8.9 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No. 74915M605

1

Names of Reporting Persons

Contrarius Investment Management (Bermuda) Ltd

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

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 702,768.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 702,768.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

702,768.00

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)

8.9 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: QVC Group, Inc.
(b)	Address of issuer's principal executive offices: 1200 Wilson Dr., West Chester, Pennsylvania 19380
Item 2.
(a)	Name of person filing: Contrarius Investment Management Limited Contrarius Investment Management (Bermuda) Limited
(b)	Address or principal business office or, if none, residence: Contrarius Investment Management Limited - 2 Bond Street, St. Helier, Jersey JE2 3NP, Channel Islands Contrarius Investment Management (Bermuda) Limited - Waterloo House, 100 Pitts Bay Road, Pembroke HM 08 Bermuda
(c)	Citizenship: Contrarius Investment Management Limited is a company organized under the laws of Jersey, Channel Islands. Contrarius Investment Management (Bermuda) Limited is a company organized under the laws of Bermuda.
(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).
	Equivalent to IA
Item 4.	Ownership
(a)	Amount beneficially owned: 702,768
(b)	Percent of class: 8.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 702,768
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 702,768
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. Other persons have the right to receive and the power to direct the receipt of dividends from, or the proceeds from the sale of, the 702,768 shares of Series A Common Stock of QVC Group, Inc. beneficially owned by Contrarius Investment Management Limited and Contrarius Investment Management (Bermuda) Limited.
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.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Contrarius Investment Management Limited and Contrarius Investment Management (Bermuda) Limited are together making this filing because they may be deemed to constitute a "group" for the purposes of section 13(d)(3) of the Act.
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 ss. 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Contrarius Investment Management Limited and Contrarius Investment Management (Bermuda) Limited is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Contrarius Investment Management Ltd

Signature:	/s/ Thomas Daniel Perkins
Name/Title:	Thomas Daniel Perkins / Director
Date:	08/12/2025

Contrarius Investment Management (Bermuda) Ltd

Signature:	/s/ Matt de Kock
Name/Title:	Matt de Kock / Director
Date:	08/12/2025

FAQ

How many QVCGP shares does Contrarius beneficially own?

The filing reports 702,768 shares of QVC Group Series A common stock.

What percentage of QVCGP does that represent?

The shares represent 8.9% of the Series A common stock class as stated in the filing.

Do Contrarius entities have voting control over the shares?

The filing states 0 shares with sole voting power and 702,768 shares with shared voting power.

Was this filed as a Schedule 13G or 13D?

This document is an Amendment to Schedule 13G (Amendment No. 4), indicating a passive reporting position per the filers' certification.

What dates are shown in the filing?

The event date requiring the filing is shown as 06/30/2025 and the signatures are dated 08/12/2025.