Bahl & Gaynor boosts passive stake in U S Physical Therapy (NYSE: USPH) 5.1%

Rhea-AI Filing Summary

U S Physical Therapy Inc. Schedule 13G shows Bahl & Gaynor, Inc. beneficially owns 653,986 shares of Class A common stock, representing 5.1% of the class. The filing states the reporting person has sole voting and dispositive power over these shares.

The filing lists the issuer CUSIP 90337L108 and provides the reporting persons address and signature by the Chief Compliance Officer dated 05/08/2026.

Insights

Institutional Ownership Analyst

Passive institutional stake disclosed: 653,986 shares (5.1%).

Bahl & Gaynor, Inc. reports beneficial ownership of 653,986 shares with sole voting and dispositive power. The filing is a routine Schedule 13G disclosure used by institutional holders that qualify for passive investor status.

Key dependencies include whether holdings change in future filings; subsequent amendments or Schedule 13D would indicate active acquisition or intent to influence.

Key Figures

Shares beneficially owned: 653,986 shares Percent of class: 5.1% CUSIP: 90337L108 +1 more

4 metrics

Shares beneficially owned 653,986 shares Amount reported by Bahl & Gaynor, Inc.

Percent of class 5.1% Percent of Class A common stock reported

CUSIP 90337L108 Identifier for Class A common stock

Signature date 05/08/2026 Date of signature by Chief Compliance Officer

Key Terms

Schedule 13G, Beneficially owned, Sole Dispositive Power, Sole Voting Power

4 terms

Schedule 13G regulatory

"BAHL & GAYNOR INC reports beneficial ownership on a Schedule 13G form"

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.

Beneficially owned financial

"Amount beneficially owned: 653,986"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Dispositive Power regulatory

"Sole Dispositive Power 653,986.00 indicates control over sale proceeds"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Sole Voting Power regulatory

"Sole Voting Power 653,986.00 indicates voting authority"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

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Accepted by SEC EDGAR 05/08/2026 - 10:29 AM Learn about SEC filing dates

FAQ

What does Bahl & Gaynor's 5.1% stake in USPH mean?

It means Bahl & Gaynor, Inc. beneficially owns 653,986 shares, representing 5.1% of Class A common stock. The filing reports sole voting and dispositive power over those shares and is a standard institutional disclosure.

Is the Schedule 13G filing for USPH the same as an activist stake?

No. A Schedule 13G typically indicates a passive institutional investor. This filing reports ownership and voting/dispositive power but does not state any intent to influence management or control.

What identifiers and dates are shown in the USPH filing?

The filing lists the issuer CUSIP 90337L108, an initial date line of 01/15/2026, and the signature dated 05/08/2026 by the reporting persons Chief Compliance Officer.

Who has voting and disposition authority over the reported USPH shares?

The Schedule 13G reports that Bahl & Gaynor, Inc. has sole voting power and sole dispositive power over 653,986 shares of Class A common stock.

Where is Bahl & Gaynor located as listed in the filing?

The filing lists the reporting persons principal business office as 255 East Fifth Street Suite 2700, Cincinnati, OH 45202 and identifies its citizenship as United States.

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)

Class A common Stock

(Title of Class of Securities)

90337L108

(CUSIP Number)

01/15/2026

(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

BAHL & GAYNOR INC

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

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 653,986.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 653,986.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

653,986.00

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)

5.1 %

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, TEXAS, 77043
Item 2.
(a)	Name of person filing: Bahl & Gaynor, Inc.
(b)	Address or principal business office or, if none, residence: 255 East Fifth Street Suite 2700 Cincinnati, OH 45202
(c)	Citizenship: United States
(d)	Title of class of securities: Class A 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: 653,986
(b)	Percent of class: 5.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 653,986
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 653,986
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	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. Clients of the reporting person have the right to receive dividends from, and the proceeds from the sale of, the securities reported herein.
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.

BAHL & GAYNOR INC

Signature:	Tita Ann Rogers
Name/Title:	Chief Compliance Officer
Date:	05/08/2026