Kayne Anderson Rudnick Reports 5.2% Beneficial Ownership in SYBT

Rhea-AI Filing Summary

Kayne Anderson Rudnick Investment Management, LLC reports beneficial ownership of 1,544,132 shares of Stock Yards Bancorp Inc ordinary shares, representing 5.2% of the class. The filing breaks down control: the filer has sole voting power for 901,699 shares and shared voting power for 351,529 shares, while holding sole dispositive power for 1,192,603 shares and shared dispositive power for 351,529 shares. The submission is a Schedule 13G disclosure by an investment adviser (Type IA) and includes a certification that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Insights

Financial Analyst

TL;DR: Schedule 13G shows a passive institutional stake of 5.2% (1,544,132 shares) with meaningful voting and dispositive holdings.

The reporting entity holds a material, but non-controlling, position in Stock Yards Bancorp. The split between sole and shared voting power (901,699 sole; 351,529 shared) and the larger sole dispositive power (1,192,603) indicate the adviser controls disposition decisions for most of its position. Because this is a Schedule 13G by an investment adviser and the filing includes a certification that holdings are in the ordinary course and not intended to change control, the immediate market or governance impact is limited absent subsequent activist steps.

Corporate Governance Expert

TL;DR: This is a passive 13G disclosure; it signals institutional ownership but not an intent to pursue control or governance changes.

Ownership above the 5% threshold requires disclosure; the adviser meets that threshold and clarifies passive intent. The presence of both sole and shared voting power means the filer can influence outcomes where its shares are decisive, but the certification that the position is held in the ordinary course limits immediate governance implications. Investors and the board should note the stake size but treat it as non-activist based on this filing alone.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Stock Yards Bancorp Inc

(Name of Issuer)

Stock Yards Bancorp Ord Shs

(Title of Class of Securities)

861025104

(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. 861025104

1

Names of Reporting Persons

Kayne Anderson Rudnick Investment 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

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 901,699.00
6	Shared Voting Power 351,529.00
7	Sole Dispositive Power 1,192,603.00
8	Shared Dispositive Power 351,529.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,544,132.00

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)

5.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Stock Yards Bancorp Inc
(b)	Address of issuer's principal executive offices: 1040 EAST MAIN STREET, LOUISVILLE, KY, 40206
Item 2.
(a)	Name of person filing: Kayne Anderson Rudnick Investment Management, LLC
(b)	Address or principal business office or, if none, residence: 2000 Avenue of the Stars, Suite 1110, Los Angeles, 90067, CA, United States
(c)	Citizenship: CALIFORNIA
(d)	Title of class of securities: Stock Yards Bancorp Ord Shs
(e)	CUSIP No.: 861025104
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: 1,544,132
(b)	Percent of class: 5.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 901,699
	(ii) Shared power to vote or to direct the vote: 351,529
	(iii) Sole power to dispose or to direct the disposition of: 1,192,603
	(iv) Shared power to dispose or to direct the disposition of: 351,529
Item 5.	Ownership of 5 Percent or Less of a Class.
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.

Kayne Anderson Rudnick Investment Management, LLC

Signature:	/s/Michael Shoemaker
Name/Title:	Chief Compliance Officer
Date:	08/13/2025

FAQ

Who filed the Schedule 13G/A for Stock Yards Bancorp (SYBT)?

Kayne Anderson Rudnick Investment Management, LLC filed the Schedule 13G/A as the reporting person (Type IA).

How many SYBT shares does Kayne Anderson Rudnick beneficially own and what percent is that?

1,544,132 shares, which represent 5.2% of the class according to the filing.

What voting and dispositive powers are reported for this position?

Sole voting power: 901,699 shares; Shared voting power: 351,529 shares; Sole dispositive power: 1,192,603 shares; Shared dispositive power: 351,529 shares.

Does the filing indicate an intent to change or influence control of SYBT?

No. The filing includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What type of SEC disclosure is this and why was it required?

This is a Schedule 13G (amendment) filed by an investment adviser after crossing the 5% beneficial ownership threshold, which triggers disclosure requirements.