Contrarius Investment Mgmt Takes 10.9% Stake in Qurate Retail

TL;DR

**Contrarius just revealed a 10.9% stake in Qurate Retail, signaling a bullish institutional bet.**

AI Summary

Contrarius Investment Management Limited, a firm based in Jersey, Channel Islands, reported on February 12, 2024, that it beneficially owns 10,000,000 shares of Qurate Retail, Inc.'s Series A Common Stock as of December 31, 2023. This represents a significant 10.9% stake in the company, indicating a substantial investment by Contrarius. This matters to shareholders because a large institutional investor taking a significant position can signal confidence in the company's future, potentially influencing other investors and the stock price.

Why It Matters

A major institutional investor, Contrarius Investment Management, has disclosed a significant 10.9% ownership in Qurate Retail, Inc., which could be seen as a vote of confidence in the company's prospects.

Risk Assessment

Risk Level: low — This filing indicates a large institutional investment, which is generally a positive signal and does not inherently introduce new risks.

Analyst Insight

A smart investor would view this as a positive signal, suggesting that a sophisticated institutional investor sees value in Qurate Retail, Inc. It might warrant further research into Qurate's fundamentals and Contrarius's investment thesis.

Key Numbers

• 10,000,000 — Shares Beneficially Owned (Represents the total number of Series A Common Stock shares of Qurate Retail, Inc. held by Contrarius Investment Management Limited.)
• 10.9% — Percentage of Class Owned (Indicates the significant stake Contrarius Investment Management Limited holds in Qurate Retail, Inc.'s Series A Common Stock.)
• December 31, 2023 — Date of Event (The specific date on which Contrarius Investment Management Limited's ownership crossed the threshold requiring this SC 13G filing.)

Key Players & Entities

• Contrarius Investment Management Limited (company) — the reporting person and beneficial owner
• Qurate Retail, Inc. (company) — the subject company (issuer)
• Jersey, Channel Islands (company) — place of organization for Contrarius Investment Management Limited
• 10,000,000 (dollar_amount) — shares beneficially owned
• 10.9% (dollar_amount) — percentage of class owned
• December 31, 2023 (date) — date of event requiring filing
• February 12, 2024 (date) — filing date

Forward-Looking Statements

• Other institutional investors may increase their positions in Qurate Retail, Inc. (Qurate Retail, Inc.) — medium confidence, target: Q2 2024
• Qurate Retail, Inc.'s stock price could see a positive short-term reaction. (Qurate Retail, Inc.) — low confidence, target: March 2024

FAQ

Filing Documents

• qrtea-sc13g_123123.htm (SC 13G) — 50KB
• 0001999371-24-001858.txt ( ) — 52KB

(a). Name of Issuer

Item 1(a). Name of Issuer: Qurate Retail, Inc.

(b). Address of Issuer’s Principal

Item 1(b). Address of Issuer’s Principal Executive Offices: 12300 Liberty Boulevard, Englewood, Colorado 80112

(a). Name of Person Filing

Item 2(a). Name of Person Filing: Contrarius Investment Management Limited Contrarius Investment Management (Bermuda) Limited

(b). Address of Principal Business

Item 2(b). Address of 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

Item 2(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

Item 2(d). Title of Class of Securities: Series A Common Stock

(e). CUSIP Number

Item 2(e). CUSIP Number: 74915M100

If this statement is filed pursuant

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). 4 (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 association 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). (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: Equivalent to IA.

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 35,250,650 (b) Percent of class:9.3% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 35,250,650 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 35,250,650

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].

Ownership

Item 6. Ownership of More than Five Percent on Behalf of Another Person 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 35,250,650 shares of Series A Common Stock of Qurate Retail, Inc. beneficially owned by Contrarius Investment Management Limited and Contrarius Investment Management (Bermuda) Limited. 5

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. N/A

Identification

Item 8. Identification and Classification of Members 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.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A

Certifications

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. 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. 6 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. 12 February 2024 CONTRARIUS INVESTMENT MANAGEMENT LIMITED By: /s/ Thomas Daniel Perkins Name: Thomas Daniel Perkins Title: Director 12 February 2024 CONTRARIUS INVESTMENT MANAGEMENT (BERMUDA) LIMITED By: /s/ Matt De Kock Name: Matt De Kock Title: Director 7

View Full Filing

View this SC 13G filing on SEC EDGAR