SEC Form SCHEDULE 13G filed by QVC Group Inc.
$QVCGA
Catalog/Specialty Distribution
Consumer Discretionary
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13G
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UNDER THE SECURITIES EXCHANGE ACT OF 1934
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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)
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 Rule 13d-1(c)
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| Rule 13d-1(d)
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SCHEDULE 13G
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| 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)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 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)
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| 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
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| 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)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
DELAWARE
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 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
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| 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: |
| ||||||||
| 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
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| 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)
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| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization
UNITED STATES
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 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
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| 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);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (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);
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| (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).
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| 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:
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| (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
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| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
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| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
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| 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.
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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.