NEW SOUTH CAPITAL MANAGEMENT INC

MEMPHIS, TN · CIK 1044797 · 13F filing filed 2023-05-10

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

Kindhedge funds, wealth
Others nearbyMemphis, TN

As an employer

Offices in1 country
Private fundshedge 1

$2.2bn reported value +1.4% vs Q4 2022

61positions

49.9%in top 10

2 new 12 added 43 reduced 6 sold out vs Q4 2022

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

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

Also in the report of:

American Trust

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

Holdings, Q1 2023

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	66,204	$162.7m7.39%	7.39%	Reduced -2.8k	-2,804 -4.1%
2	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	462,565	$147.1m6.68%	6.68%	Reduced -21.7k	-21,729 -4.5%
3	VERTIV HOLDINGS CO COM CL A VRT	VRT	9,877,432	$141.3m6.42%	6.42%	Reduced -393.3k	-393,310 -3.8%
4	WESCO INTL INC COM WCC	WCC	798,225	$123.4m5.60%	5.60%	Reduced -54.2k	-54,161 -6.3%
5	OPEN TEXT CORP COM OTEX	OTEX	2,930,112	$113.0m5.13%	5.13%	Added +355.3k	+355,320 13.8%
6	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	181,731	$104.7m4.76%	4.76%	Reduced -3.2k	-3,200 -1.7%
7	FISERV INC COM FISV	FISV	716,094	$80.9m3.68%	3.68%	Reduced -59.3k	-59,335 -7.7%
8	CGI INC CL A SUB VTG GIB	GIB	794,548	$76.5m3.47%	3.47%	Reduced -41.4k	-41,430 -5.0%
9	LKQ CORP COM LKQ	LKQ	1,326,502	$75.3m3.42%	3.42%	Reduced -241.4k	-241,440 -15.4%
10	MSC INDL DIRECT INC CL A MSM	MSM	876,451	$73.6m3.34%	3.34%	Reduced -44.0k	-44,043 -4.8%
11	FMC CORP COM NEW FMC	FMC	569,927	$69.6m3.16%	3.16%	Reduced -79.3k	-79,300 -12.2%
12	ENERSYS COM ENS	ENS	741,965	$64.5m2.93%	2.93%	Reduced -71.0k	-70,981 -8.7%
13	HOWARD HUGHES CORP COM HHC	HHC	688,167	$55.1m2.50%	2.50%	Reduced -26.4k	-26,357 -3.7%
14	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	3,359,738	$50.7m2.30%	2.30%	Added +329.4k	+329,389 10.9%
15	EURONET WORLDWIDE INC COM EEFT	EEFT	425,910	$47.7m2.16%	2.16%	Reduced -10.1k	-10,120 -2.3%
16	HANESBRANDS INC COM HBI	HBI	9,017,430	$47.4m2.15%	2.15%	Added +1.9m	+1,861,586 26.0%
17	FEDEX CORP COM FDX	FDX	197,832	$45.2m2.05%	2.05%	Reduced -3.5k	-3,535 -1.8%
18	ELEMENT SOLUTIONS INC COM ESI	ESI	2,184,935	$42.2m1.92%	1.92%	Reduced -221.2k	-221,187 -9.2%
19	VIASAT INC COM VSAT	VSAT	1,185,287	$40.1m1.82%	1.82%	Reduced -41.9k	-41,898 -3.4%
20	KFORCE INC COM KFRC	KFRC	613,452	$38.8m1.76%	1.76%	Reduced -32.5k	-32,473 -5.0%
21	BROOKFIELD CORP CL A LTD VT SH BN	BN	1,180,503	$38.5m1.75%	1.75%	Added +156.9k	+156,865 15.3%
22	EVOQUA WATER TECHNOLOGIES CO COM AQUA	AQUA	754,643	$37.5m1.70%	1.70%	Reduced -916.1k	-916,081 -54.8%
23	AVANTOR INC COM AVTR	AVTR	1,627,541	$34.4m1.56%	1.56%	Reduced -56.8k	-56,790 -3.4%
24	SS&C TECHNOLOGIES HLDGS INC COM SSNC	SSNC	581,317	$32.8m1.49%	1.49%	Reduced -12.6k	-12,635 -2.1%
25	ONESPAWORLD HOLDINGS LIMITED COM OSW	OSW	2,655,643	$31.8m1.45%	1.45%	Reduced -201.6k	-201,556 -7.0%
26	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	128,237	$29.8m1.35%	1.35%	Reduced -3.7k	-3,695 -2.8%
27	TREEHOUSE FOODS INC COM THS	THS	538,088	$27.1m1.23%	1.23%	Reduced -80.7k	-80,680 -13.0%
28	AMN HEALTHCARE SVCS INC COM AMN	AMN	325,181	$27.0m1.23%	1.23%	Added +203.4k	+203,396 167.0%
29	RUSH ENTERPRISES INC CL A RUSHA	RUSHA	429,538	$23.5m1.07%	1.07%	Reduced -64.6k	-64,610 -13.1%
30	FIRSTCASH HOLDINGS INC COM FCFS	FCFS	235,133	$22.4m1.02%	1.02%	Reduced -35.5k	-35,495 -13.1%
31	STANLEY BLACK & DECKER INC COM SWK	SWK	268,304	$21.6m0.98%	0.98%	Added +4.7k	+4,712 1.8%
32	KEMPER CORP COM KMPR	KMPR	354,363	$19.4m0.88%	0.88%	Added +76.5k	+76,512 27.5%
33	THERMON GROUP HLDGS INC COM COM		753,485	$18.8m0.85%	0.85%	Reduced -113.5k	-113,465 -13.1%
34	ASGN INC COM EFOR	EFOR	223,118	$18.4m0.84%	0.84%	Reduced -5.7k	-5,662 -2.5%
35	HOLOGIC INC COM HOLX	HOLX	219,922	$17.7m0.81%	0.81%	Reduced -1.1k	-1,085 -0.5%
36	WEX INC COM WEX	WEX	96,398	$17.7m0.81%	0.81%	Reduced -33.5k	-33,525 -25.8%
37	MARRIOTT VACATIONS WORLDWIDE COM VAC	VAC	126,189	$17.0m0.77%	0.77%	Reduced -19.1k	-19,101 -13.2%
38	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		458,276	$16.0m0.73%	0.73%	Reduced -24.3k	-24,275 -5.0%
39	GARRETT MOTION INC COM GTX	GTX	2,081,354	$15.9m0.72%	0.72%	Reduced -311.9k	-311,925 -13.0%
40	NV5 GLOBAL INC COM NVEE	NVEE	145,147	$15.1m0.69%	0.69%	Reduced -21.8k	-21,818 -13.1%
41	LIBERTY MEDIA CORP DEL COM C SIRIUSXM LSXMK	LSXMK	525,925	$14.7m0.67%	0.67%	Reduced -2.6k	-2,570 -0.5%
42	SIRIUS XM HOLDINGS INC COM SIRI	SIRI	3,446,013	$13.7m0.62%	0.62%	Reduced -271.6k	-271,643 -7.3%
43	DIGITALBRIDGE GROUP INC CL A NEW CL A NEW		1,066,771	$12.8m0.58%	0.58%	Added +134.4k	+134,371 14.4%
44	ARES CAPITAL CORP COM ARCC	ARCC	663,519	$12.1m0.55%	0.55%	Reduced -97.2k	-97,150 -12.8%
45	AMERISAFE INC COM AMSF	AMSF	246,286	$12.1m0.55%	0.55%	Reduced -37.1k	-37,055 -13.1%
46	UNIFIRST CORP MASS COM UNF	UNF	63,952	$11.3m0.51%	0.51%	Reduced -9.7k	-9,651 -13.1%
47	ISHARES TR RUS 2000 VAL ETF IWN	IWN	67,320	$9.2m0.42%	0.42%	Added +16.0k	+16,038 31.3%
48	FIDELITY NATL INFORMATION SV COM FIS	FIS	108,273	$5.9m0.27%	0.27%	Added +62.7k	+62,685 137.5%
49	SHOE CARNIVAL INC COM SHOE	SHOE	206,294	$5.3m0.24%	0.24%	New
50	AMDOCS LTD SHS DOX	DOX	47,131	$4.5m0.21%	0.21%	Reduced -13.6k	-13,600 -22.4%
51	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	128,846	$4.2m0.19%	0.19%	Reduced -10.7k	-10,717 -7.7%
52	UPLAND SOFTWARE INC COM COM		913,167	$3.9m0.18%	0.18%	Reduced -27.6k	-27,647 -2.9%
53	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	66,295	$3.4m0.15%	0.15%	Added +27.5k	+27,515 71.0%
54	ISHARES TR SELECT DIVID ETF DVY	DVY	16,300	$1.9m0.09%	0.09%	Reduced -100	-100 -0.6%
55	Invesco Floating Rate ESG Fund MF AFRFX	AFRFX	230,793	$1.5m0.07%	0.07%	Added +8.8k	+8,769 4.0%
56	LIBERTY MEDIA CORP DEL COM A SIRIUSXM LSXMA	LSXMA	35,700	$1.0m0.05%	0.05%	New
57	ISHARES TR 1 3 YR TREAS BD SHY	SHY	9,405	$772.7k0.04%	0.04%	Reduced -12.2k	-12,205 -56.5%
58	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	7,189	$498.3k0.02%	0.02%	Unchanged
59	ISHARES TR RUS MID CAP ETF IWR	IWR	4,950	$346.1k0.02%	0.02%	Unchanged
60	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	7,750	$261.7k0.01%	0.01%	Unchanged
61	FIRST HORIZON CORPORATION COM FHN	FHN	10,117	$179.9k0.01%	0.01%	Unchanged

Sold out since Q4 2022

Security	Ticker	Shares held before	Value then
FRONTDOOR INC FTDR	FTDR	1,979,629	$41.2m2.0m shares
ISHARES TR IWM	IWM	54,064	$9.4m54.1k shares
ISHARES TR ITB	ITB	15,180	$920.0k15.2k shares
SERVICE CORP INTL SCI	SCI	6,403	$442.7k6.4k shares
ISHARES TR IWV	IWV	1,622	$357.9k1.6k shares
INTERNATIONAL BUSINESS MACHS IBM	IBM	1,500	$211.3k1.5k shares