NEW SOUTH CAPITAL MANAGEMENT INC

MEMPHIS, TN · CIK 1044797 · 13F filing filed 2023-02-10

SEC-registered investment adviser since 1985 · corporation

Assets managed$2.2bn
Staff11 · 8 in investment roles
Main clients (by assets)High net worth individuals 28%, Charities 27%, Pension plans 18%
Private funds1 (1 hedge) · $118.8m gross assets
Websitenewsouthcapital.com
Form ADV · 2026-08-10SEC adviser record

$2.2bn reported value +5.2% vs Q3 2022

65positions

47.8%in top 10

7 new 8 added 45 reduced 4 sold out vs Q3 2022

This report includes the holdings of 1 other manager that shares the investment decisions:

STIFEL NICOLAUS & CO INC \MO\ – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AUTOZONE INC COM AZO	AZO	69,008	$170.2m7.83%	7.83%	Reduced -1.9k	-1,942 -2.7%
2	VERTIV HOLDINGS CO COM CL A VRT	VRT	10,270,742	$140.3m6.46%	6.46%	Reduced -512.1k	-512,146 -4.8%
3	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	484,294	$124.2m5.72%	5.72%	Reduced -21.5k	-21,530 -4.3%
4	WESCO INTL INC COM WCC	WCC	852,386	$106.7m4.91%	4.91%	Reduced -184.5k	-184,491 -17.8%
5	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	184,931	$101.8m4.69%	4.69%	Reduced -4.4k	-4,424 -2.3%
6	LKQ CORP COM LKQ	LKQ	1,567,942	$83.7m3.85%	3.85%	Reduced -57.3k	-57,307 -3.5%
7	FMC CORP COM NEW FMC	FMC	649,227	$81.0m3.73%	3.73%	Reduced -19.5k	-19,515 -2.9%
8	FISERV INC COM FISV	FISV	775,429	$78.4m3.61%	3.61%	Reduced -38.0k	-37,953 -4.7%
9	OPEN TEXT CORP COM OTEX	OTEX	2,574,792	$76.3m3.51%	3.51%	Reduced -4.7k	-4,737 -0.2%
10	MSC INDL DIRECT INC CL A MSM	MSM	920,494	$75.2m3.46%	3.46%	Reduced -51.4k	-51,362 -5.3%
11	CGI INC CL A SUB VTG GIB	GIB	835,978	$72.0m3.31%	3.31%	Reduced -26.9k	-26,891 -3.1%
12	EVOQUA WATER TECHNOLOGIES CO COM AQUA	AQUA	1,670,724	$66.2m3.05%	3.05%	Reduced -76.7k	-76,711 -4.4%
13	ENERSYS COM ENS	ENS	812,946	$60.0m2.76%	2.76%	Reduced -33.0k	-33,039 -3.9%
14	HOWARD HUGHES CORP COM HHC	HHC	714,524	$54.6m2.51%	2.51%	Reduced -54.8k	-54,842 -7.1%
15	HANESBRANDS INC COM HBI	HBI	7,155,844	$45.5m2.09%	2.09%	Added +1.5m	+1,515,856 26.9%
16	ELEMENT SOLUTIONS INC COM ESI	ESI	2,406,122	$43.8m2.01%	2.01%	Reduced -115.5k	-115,471 -4.6%
17	FRONTDOOR INC COM FTDR	FTDR	1,979,629	$41.2m1.90%	1.90%	Reduced -168.2k	-168,204 -7.8%
18	EURONET WORLDWIDE INC COM EEFT	EEFT	436,030	$41.2m1.89%	1.89%	Reduced -9.9k	-9,921 -2.2%
19	VIASAT INC COM VSAT	VSAT	1,227,185	$38.8m1.79%	1.79%	Reduced -768.0k	-767,988 -38.5%
20	AVANTOR INC COM AVTR	AVTR	1,684,331	$35.5m1.64%	1.64%	Reduced -22.4k	-22,374 -1.3%
21	KFORCE INC COM KFRC	KFRC	645,925	$35.4m1.63%	1.63%	Added +103.1k	+103,130 19.0%
22	FEDEX CORP COM FDX	FDX	201,367	$34.9m1.61%	1.61%	Reduced -9.5k	-9,470 -4.5%
23	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	131,932	$32.3m1.49%	1.49%	Reduced -4.7k	-4,729 -3.5%
24	BROOKFIELD CORP CL A LTD VT SH BN	BN	1,023,638	$32.2m1.48%	1.48%	New
25	SS&C TECHNOLOGIES HLDGS INC COM SSNC	SSNC	593,952	$30.9m1.42%	1.42%	Reduced -41.1k	-41,053 -6.5%
26	TREEHOUSE FOODS INC COM THS	THS	618,768	$30.6m1.41%	1.41%	Reduced -65.0k	-65,016 -9.5%
27	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	3,030,349	$28.7m1.32%	1.32%	Reduced -331.0k	-330,979 -9.8%
28	ONESPAWORLD HOLDINGS LIMITED COM OSW	OSW	2,857,199	$26.7m1.23%	1.23%	Reduced -379.2k	-379,207 -11.7%
29	RUSH ENTERPRISES INC CL A RUSHA	RUSHA	494,148	$25.8m1.19%	1.19%	Reduced -51.4k	-51,383 -9.4%
30	FIRSTCASH HOLDINGS INC COM FCFS	FCFS	270,628	$23.5m1.08%	1.08%	Reduced -100.5k	-100,543 -27.1%
31	NV5 GLOBAL INC COM NVEE	NVEE	166,965	$22.1m1.02%	1.02%	Reduced -17.6k	-17,586 -9.5%
32	SIRIUS XM HOLDINGS INC COM SIRI	SIRI	3,717,656	$21.7m1.00%	1.00%	Unchanged
33	WEX INC COM WEX	WEX	129,923	$21.3m0.98%	0.98%	Reduced -167	-167 -0.1%
34	LIBERTY MEDIA CORP DEL COM C SIRIUSXM LSXMK	LSXMK	528,495	$20.7m0.95%	0.95%	Reduced -55.3k	-55,261 -9.5%
35	STANLEY BLACK & DECKER INC COM SWK	SWK	263,592	$19.8m0.91%	0.91%	Reduced -5.9k	-5,921 -2.2%
36	MARRIOTT VACATIONS WORLDWIDE COM VAC	VAC	145,290	$19.6m0.90%	0.90%	Reduced -15.2k	-15,214 -9.5%
37	ASGN INC COM EFOR	EFOR	228,780	$18.6m0.86%	0.86%	New
38	GARRETT MOTION INC COM GTX	GTX	2,393,279	$18.2m0.84%	0.84%	Reduced -239.8k	-239,818 -9.1%
39	THERMON GROUP HLDGS INC COM COM		866,950	$17.4m0.80%	0.80%	Reduced -91.0k	-91,040 -9.5%
40	HOLOGIC INC COM HOLX	HOLX	221,007	$16.5m0.76%	0.76%	Reduced -22.6k	-22,564 -9.3%
41	AMERISAFE INC COM AMSF	AMSF	283,341	$14.7m0.68%	0.68%	Reduced -29.7k	-29,693 -9.5%
42	UNIFIRST CORP MASS COM UNF	UNF	73,603	$14.2m0.65%	0.65%	Reduced -7.8k	-7,761 -9.5%
43	ARES CAPITAL CORP COM ARCC	ARCC	760,669	$14.0m0.65%	0.65%	Reduced -78.3k	-78,284 -9.3%
44	KEMPER CORP COM KMPR	KMPR	277,851	$13.7m0.63%	0.63%	Reduced -49.5k	-49,516 -15.1%
45	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		482,551	$13.3m0.61%	0.61%	Reduced -1.1k	-1,103 -0.2%
46	AMN HEALTHCARE SVCS INC COM AMN	AMN	121,785	$12.5m0.58%	0.58%	Reduced -14.1k	-14,110 -10.4%
47	DIGITALBRIDGE GROUP INC CL A NEW CL A NEW		932,400	$10.2m0.47%	0.47%	Added +154.6k	+154,607 19.9%
48	ISHARES TR RUSSELL 2000 ETF IWM	IWM	54,064	$9.4m0.43%	0.43%	Added +43.4k	+43,414 407.6%
49	ISHARES TR RUS 2000 VAL ETF IWN	IWN	51,282	$7.1m0.33%	0.33%	Added +34.7k	+34,687 209.0%
50	UPLAND SOFTWARE INC COM COM		940,814	$6.7m0.31%	0.31%	Reduced -220.9k	-220,922 -19.0%
51	AMDOCS LTD SHS DOX	DOX	60,731	$5.5m0.25%	0.25%	Reduced -284.2k	-284,161 -82.4%
52	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	139,563	$4.0m0.18%	0.18%	New
53	FIDELITY NATL INFORMATION SV COM FIS	FIS	45,588	$3.1m0.14%	0.14%	Added +10.6k	+10,625 30.4%
54	ISHARES TR SELECT DIVID ETF DVY	DVY	16,400	$2.0m0.09%	0.09%	Reduced -1.5k	-1,500 -8.4%
55	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	38,780	$1.9m0.09%	0.09%	Reduced -27.0k	-27,015 -41.1%
56	ISHARES TR 1 3 YR TREAS BD SHY	SHY	21,610	$1.8m0.08%	0.08%	Added +12.2k	+12,205 129.8%
57	Invesco Floating Rate ESG Fund MF AFRFX	AFRFX	222,024	$1.5m0.07%	0.07%	Added +3.8k	+3,759 1.7%
58	ISHARES TR US HOME CONS ETF ITB	ITB	15,180	$920.0k0.04%	0.04%	New
59	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	7,189	$517.2k0.02%	0.02%	Unchanged
60	SERVICE CORP INTL COM SCI	SCI	6,403	$442.7k0.02%	0.02%	Unchanged
61	ISHARES TR RUSSELL 3000 ETF IWV	IWV	1,622	$357.9k0.02%	0.02%	New
62	ISHARES TR RUS MID CAP ETF IWR	IWR	4,950	$333.9k0.02%	0.02%	New
63	FIRST HORIZON CORPORATION COM FHN	FHN	10,117	$247.9k0.01%	0.01%	Unchanged
64	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	7,750	$240.2k0.01%	0.01%	Unchanged
65	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,500	$211.3k0.01%	0.01%	New

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
BROOKFIELD ASSET MGMT INC		979,652	$40.1m979.7k shares
COGNYTE SOFTWARE LTD CGNT	CGNT	1,150,263	$4.6m1.2m shares
SPDR SER TR JNK	JNK	4,466	$392.0k4.5k shares
VIRTUS SEIX INVESTMENT G STTBX	STTBX	12,396	$130.0k12.4k shares