Copeland Capital reports 5.5% stake in USPH

Copeland Capital Management reported beneficial ownership of 836,831 shares of U S PHYSICAL THERAPY INC common stock, equal to 5.5% of the class as reported on 03/31/2026.

Rhea-AI Filing Summary

Copeland Capital Management reported beneficial ownership of 836,831 shares of U S PHYSICAL THERAPY INC common stock, equal to 5.5% of the class as reported on 03/31/2026. The filing shows 545,129 shares with sole voting power and 129,298 with shared voting power. The filer certifies the position is not held to change or influence control and includes a signature by the filer's General Counsel and CCO.

Insights

Institutional Ownership Analyst

Passive 13G holding: a visible 5.5% stake by Copeland Capital Management.

Copeland reports beneficial ownership of 836,831 shares representing 5.5% of common stock as of 03/31/2026. Voting breakdown shows substantial sole voting power, indicating influence over voting outcomes though the filer certified passive intent.

Watch subsequent amendments or Form 13D filings for any shift from passive to activist posture; timing not specified in the excerpt.

Securities Compliance Counsel

Filing complies with Schedule 13G passive disclosure and includes a non-control certification.

The document includes the required Schedule 13G fields: issuer, filer, CUSIP, beneficial ownership amount, percentage, and voting/dispositive powers. The signature by General Counsel and CCO is present with a certification about non-control purpose.

Future filings may show changes in ownership or intent that would alter reporting obligations.

Key Figures

Beneficial ownership: 836,831 shares Percent of class: 5.5% Sole voting power: 545,129 shares +3 more

6 metrics

Beneficial ownership 836,831 shares as of 03/31/2026

Percent of class 5.5% percent of common stock

Sole voting power 545,129 shares shares with sole voting power

Shared voting power 129,298 shares shares with shared voting power

Sole dispositive power 0 shares shares with sole dispositive power

Shared dispositive power 836,831 shares shares with shared dispositive power

Key Terms

Schedule 13G, Beneficial ownership, Dispositive power, Rule 14a-11

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: U S PHYSICAL THERAPY INC"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficial ownership financial

"Item 4. (a) Amount beneficially owned: 836,831"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Dispositive power financial

"Item 4. (c)(iii)-(iv) Sole power to dispose: 0"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Rule 14a-11 regulatory

"not acquired and are not held in connection with or as a participant in any transaction . . . nomination under ?? 240.14a-11"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Copeland Capital hold in U S PHYSICAL THERAPY (USPH)?

Copeland Capital reports beneficial ownership of 836,831 shares, equal to 5.5% of U S PHYSICAL THERAPY common stock as of 03/31/2026. The filing lists voting and dispositive power breakdowns and a passive ownership certification.

Does the Schedule 13G filing claim Copeland seeks control of USPH?

No. The filing includes a certification that the shares were not acquired to change or influence control and were not acquired in connection with such a transaction, indicating a passive intent under the Schedule 13G statement.

How are voting and dispositive powers allocated for Copeland's position?

The filing reports 545,129 shares with sole voting power, 129,298 with shared voting power, 0 sole dispositive power, and 836,831 shared dispositive power for the reported beneficial position.

Who signed the Schedule 13G for Copeland Capital and when?

The signature is by Sofia A. Rosala, General Counsel and CCO, dated 05/05/2026. The filing identifies Copeland Capital Management, LLC and provides its address and citizenship information.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/08/2026 - 01:11 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

U S PHYSICAL THERAPY INC /NV

(Name of Issuer)

Common Stock

(Title of Class of Securities)

90337L108

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 90337L108

1

Names of Reporting Persons

Copeland Capital Management

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 545,129.00
6	Shared Voting Power 129,298.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 836,831.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

836,831.00

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)

5.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: U S PHYSICAL THERAPY INC /NV
(b)	Address of issuer's principal executive offices: 1300 West Sam Houston Parkway South, Suite 300, Houston, TX 77042
Item 2.
(a)	Name of person filing: Copeland Capital Management, LLC
(b)	Address or principal business office or, if none, residence: 161 Washington St, Suite 1325, Conshohocken, PA 19428
(c)	Citizenship: United States
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 90337L108
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: 836,831
(b)	Percent of class: 5.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 545,129
	(ii) Shared power to vote or to direct the vote: 129,298
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 836,831
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. 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.

Copeland Capital Management

Signature:	Sofia A. Rosala
Name/Title:	Sofia A. Rosala, General Counsel and CCO
Date:	05/05/2026