Copeland Capital discloses 5.9% Shoe Carnival (SCVL) ownership stake

Rhea-AI Filing Summary

Copeland Capital Management, LLC filed a Schedule 13G reporting a passive ownership stake in Shoe Carnival, Inc. common stock. The filing shows beneficial ownership of 1,624,827 shares, representing 5.93% of the outstanding common stock as of 12/31/2025.

The reporting person has sole voting power over 1,122,823 shares and shared dispositive power over 1,520,739 shares. The securities are certified as acquired and held in the ordinary course of business, not for the purpose of changing or influencing control of Shoe Carnival.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

SHOE CARNIVAL INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

824889109

(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. 824889109

1

Names of Reporting Persons

Copeland Capital Management, 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 122,823.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,520,739.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,520,739.00

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)

5.55 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SHOE CARNIVAL INC
(b)	Address of issuer's principal executive offices: 7500 East Columbia Street Evansville, Indiana 47715
Item 2.
(a)	Name of person filing: Sofia A. Rosala
(b)	Address or principal business office or, if none, residence: 161 Washington St, Suite 1325, Conshohocken, PA 19428
(c)	Citizenship: U.S.A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 824889109
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: 1,624,827
(b)	Percent of class: 5.93%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,122,823
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,520,739
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.
	Not Applicable
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.

Copeland Capital Management, LLC

Signature:	Sofia A. Rosala
Name/Title:	General Counsel and CCO
Date:	01/28/2026

FAQ

What did Copeland Capital report in its Shoe Carnival (SCVL) Schedule 13G?

Copeland Capital Management reported a passive ownership stake in Shoe Carnival, filing a Schedule 13G. It disclosed beneficial ownership of 1,624,827 common shares, equal to 5.93% of the company, as of December 31, 2025, reflecting its status as a significant institutional shareholder.

How large is Copeland Capital’s ownership stake in Shoe Carnival (SCVL)?

Copeland Capital’s beneficial ownership is 1,624,827 shares of Shoe Carnival common stock, representing 5.93% of the outstanding class. This crosses the 5% regulatory threshold that requires public disclosure on Schedule 13G under U.S. securities laws for passive institutional investors.

What voting and dispositive powers does Copeland Capital have over SCVL shares?

Copeland Capital has sole voting power over 1,122,823 Shoe Carnival shares and shared dispositive power over 1,520,739 shares. It reports no sole dispositive power and no shared voting power, clarifying how it can vote and dispose of the securities under its management.

Is Copeland Capital’s Shoe Carnival stake intended to influence control of the company?

The filing states the Shoe Carnival shares were acquired and are held in the ordinary course of business. Copeland Capital certifies they were not acquired and are not held to change or influence control of the issuer, consistent with a passive investment reported on Schedule 13G.

Who signed the Shoe Carnival (SCVL) Schedule 13G for Copeland Capital?

The Schedule 13G was signed by Sofia A. Rosala, General Counsel and Chief Compliance Officer of Copeland Capital Management, LLC. The signature certifies, after reasonable inquiry, that the information in the ownership report is true, complete, and correct as of the stated date.