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

Rhea-AI Filing Summary

Permit Capital and John C. Broderick disclosed beneficial ownership of QVC Group, Inc. Series A Common Stock. The filing shows Permit Capital Enterprise Fund, LP holds 361,790 shares (4.6% of the class) and Permit Capital entities report shared beneficial ownership of the same 361,790 shares. John C. Broderick is reported as beneficial owner of 452,591 shares (5.7% of the class), combining 90,801 individually held shares and his interest in the Fund-held shares. The percentage calculations are based on 7,885,884 outstanding shares as of July 31, 2025, per the issuer's August 7, 2025 10-Q. The filing includes certifications that the holdings were not acquired to change or influence control.

Positive

• Disclosure of material ownership: John C. Broderick reports 452,591 shares (5.7%), satisfying SEC reporting thresholds
• Fund-level clarity: Permit Capital Enterprise Fund, LP holds 361,790 shares (4.6%) and details sole voting and dispositive power
• Source basis provided: Percentages are calculated using 7,885,884 outstanding shares as of July 31, 2025 per the issuer's 10-Q

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Broderick's 5.7% beneficial stake is a material disclosure but the filer certifies passive intent.

Permit Capital and affiliated entities filed a Schedule 13G disclosing ownership positions in QVC Group, Inc. The notable point is John C. Broderick's aggregate beneficial ownership of 5.7% (452,591 shares), which crosses the 5% reporting threshold and requires public disclosure. The filing expressly certifies that the securities were not acquired to change or influence control, consistent with a passive investor profile under Schedule 13G. The statement also clarifies the allocation of sole versus shared voting and dispositive powers across Permit Capital entities and Broderick's individual accounts.

Securities Analyst

TL;DR: Schedule 13G reveals a concentrated, disclosed position representing up to 5.7% of the Series A shares; impact appears informational.

The filing quantifies ownership precisely: 361,790 shares held by the Enterprise Fund (4.6%) and 90,801 shares held directly by Broderick, totaling 452,591 shares (5.7%) on a 7,885,884-share base. Voting and dispositive powers are detailed, showing which entities hold sole versus shared control. Item 10 certification reiterates that holdings are not intended to effect control changes. For investors, this is a required transparency disclosure without attendant operational changes described in the filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

QVC Group, Inc.

(Name of Issuer)

Series A Common Stock

(Title of Class of Securities)

74915M605

(CUSIP Number)

09/03/2025

(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

Permit Capital, LLC

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 0.00
6	Shared Voting Power 361,790.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 361,790.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

361,790.00

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)

4.6 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: The percentage calculation from line 11 is based on 7,885,884 outstanding shares of Series A Common Stock as of July 31, 2025 (per the Issuer's August 7, 2025 10-Q).

SCHEDULE 13G

CUSIP No. 74915M605

1

Names of Reporting Persons

Permit Capital Enterprise Fund, LP

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 361,790.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 361,790.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

361,790.00

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)

4.6 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage calculation from line 11 is based on 7,885,884 outstanding shares of Series A Common Stock as of July 31, 2025 (per the Issuer's August 7, 2025 10-Q).

SCHEDULE 13G

CUSIP No. 74915M605

1

Names of Reporting Persons

Permit Capital GP, LP

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 0.00
6	Shared Voting Power 361,790.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 361,790.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

361,790.00

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)

4.6 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The percentage calculation from line 11 is based on 7,885,884 shares of Series A Common Stock as of July 31, 2025 (per the Issuer's August 7, 2025 10-Q).

SCHEDULE 13G

CUSIP No. 74915M605

1

Names of Reporting Persons

John C. Broderick

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 90,801.00
6	Shared Voting Power 361,790.00
7	Sole Dispositive Power 90,801.00
8	Shared Dispositive Power 361,790.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

452,591.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The percentage calculation from line 11 is based on 7,885,884 shares of Series A Common Stock as of July 31, 2025 (per the Issuer's August 7, 2025 10-Q).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: QVC Group, Inc.
(b)	Address of issuer's principal executive offices: 1200 Wilson Drive, West Chester, PA 19380
Item 2.
(a)	Name of person filing: Permit Capital, LLC Permit Capital Enterprise Fund, LP Permit Capital GP, LP John C. Broderick
(b)	Address or principal business office or, if none, residence: Permit Capital, LLC One Tower Bridge, 100 Front Street, Ste. 900 West Conshohocken, PA 19428 Permit Capital Enterprise Fund, LP 100 Front Street, Ste. 900 West Conshohocken, PA 19428 Permit Capital GP, LP 100 Front Street, West Conshohocken, PA 19428 John C. Broderick 100 Front Street, Ste. 900 West Conshohocken, PA 19428
(c)	Citizenship: Permit Capital, LLC is a Delaware limited liability company. Permit Capital Enterprise Fund, LP is a Delaware limited partnership. Permit Capital GP, LP is a Delaware limited partnership. John C. Broderick is a citizen of the United States of America.
(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: Permit Capital, LLC: 361, 790 (See Note 1) Permit Capital Enterprise Fund, LP: 361,790 (See Note 2) Permit Capital GP, LP: 361,790 (See Note 2) John C. Broderick: 452,591 (See Note 3) (collectively, the "QVCGA Shares").
(b)	Percent of class: Permit Capital, LLC: 4.6% Permit Capital Enterprise Fund, LP: 4.6% Permit Capital GP, LP: 4.6% John C. Broderick: 5.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Permit Capital, LLC: 0 Permit Capital Enterprise Fund, LP: 361,790 Permit Capital GP, LP: 0 John C. Broderick: 90,801
	(ii) Shared power to vote or to direct the vote: Permit Capital, LLC: 361,790 Permit Capital Enterprise Fund, LP: 0 Permit Capital GP, LP: 361,790 John C. Broderick: 361,790
	(iii) Sole power to dispose or to direct the disposition of: Permit Capital, LLC: 0 Permit Capital Enterprise Fund, LP: 361,790 Permit Capital GP, LP: 0 John C. Broderick: 90,801
	(iv) Shared power to dispose or to direct the disposition of: Permit Capital, LLC: 361,790 Permit Capital Enterprise Fund, LP: 0 Permit Capital GP, LP: 361,790 John C. Broderick: 361,790
Item 5.	Ownership of 5 Percent or Less of a Class.
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. While PCLLC may be deemed the beneficial owner of the QVCGA Shares, PCLLC is the beneficial owner of such stock on behalf of the Funds which have the right to receive and the power to direct the receipt of dividends from, or the proeceeds of the sale of, such QVCGA Shares. To the knowledge of PCLLC, the only Funds or individuals which have the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of the Issuer that are the subject of this Schedule 13G are Enterprise Fund, PCGP, and Broderick.
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 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.

Permit Capital, LLC

Signature:	/s/ John C. Broderick
Name/Title:	John C. Broderick, Partner
Date:	09/10/2025

Permit Capital Enterprise Fund, LP

Signature:	/s/ John C. Broderick
Name/Title:	John C. Broderick, Partner
Date:	09/10/2025

Permit Capital GP, LP

Signature:	/s/ John C. Broderick
Name/Title:	John C. Broderick, Partner
Date:	09/10/2025

John C. Broderick

Signature:	/s/ John C. Broderick
Name/Title:	John C. Broderick
Date:	09/10/2025

Comments accompanying signature: **Note 1** Permit Capital, LLC ("PCLLC"), an investment advisor registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice and serves as investment manager to certain of its clients (the "Funds"). In its role as investment advisor or manager, PCLLC possesses investment and/or voting power over the EF Shares (as defined below) and may be deemed to be the beneficial owner of QVCGA Shares held by the Funds. However, all securities reported in this schedule are owned by the Funds. PCLLC disclaims all beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934. **Note 2** Permit Capital Enterprise Fund, LP ("Enterprise Fund") holds 361,790 of the QVCGA Shares directly and thus holds the sole power to vote and dispose or direct the voting and disposal of those shares (the "EF Shares"). Permit Capital GP, LP ("PCGP") is Enterprise Fund's general partner and thus shares the power to vote and dispose or direct the voting and disposal of the EF Shares with PCLLC (as described in Note 1) and Broderick (as defined and described in Note 3). **Note 3** John C. Broderick ("Broderick") is the beneficial owner of 90,801 QVCGA Shares in his individual capacity (the "Individual Broderick Shares"), including through the power to vote and dispose or direct the voting and disposal of QVCGA shares held in his personal, retirement, and foundation accounts. As manager of PCLLC, Broderick is a beneficial owner of the EF Shares, as PCLLC possesses investment and/or voting power over the EF Shares. Between the Individual Broderick Shares and the EF Shares, Broderick is the beneficial owner of 452,591 QVCGA Shares.

FAQ

What stake does Permit Capital Enterprise Fund hold in QVC Group (QVCGP)?

Permit Capital Enterprise Fund holds 361,790 shares, representing 4.6% of Series A Common Stock based on 7,885,884 outstanding shares as of July 31, 2025.

How much of QVC Group does John C. Broderick beneficially own (QVCGP)?

John C. Broderick beneficially owns 452,591 shares, equal to 5.7% of the Series A Common Stock, combining individual and fund-related holdings.

What voting and dispositive powers are reported for these holdings?

The filing details sole and shared powers: Enterprise Fund has sole voting and dispositive power over 361,790 shares; Broderick has sole power over 90,801 shares and shared power over 361,790 shares.

On what share count is the percentage ownership based?

Percentages are based on 7,885,884 outstanding Series A shares as of July 31, 2025, per the issuer's August 7, 2025 10-Q, as stated in the filing.

Does the Schedule 13G indicate an intent to influence control of QVC Group?

No. Item 10 contains a certification that, to the best of the filer's knowledge, the securities were not acquired and are not held to change or influence control of the issuer.