NEW SOUTH CAPITAL MANAGEMENT INC

MEMPHIS, TN · CIK 1044797 · 13F filing filed 2023-08-22

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 +2.1% vs Q1 2023

61positions

52.1%in top 10

1 new 8 added 47 reduced 1 sold out vs Q1 2023

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, Q2 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	VERTIV HOLDINGS CO COM CL A VRT	VRT	9,063,998	$224.5m9.98%	9.98%	Reduced -813.4k	-813,434 -8.2%
2	AUTOZONE INC COM AZO	AZO	62,752	$156.5m6.96%	6.96%	Reduced -3.5k	-3,452 -5.2%
3	WESCO INTL INC COM WCC	WCC	790,022	$141.5m6.29%	6.29%	Reduced -8.2k	-8,203 -1.0%
4	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	439,952	$130.2m5.79%	5.79%	Reduced -22.6k	-22,613 -4.9%
5	OPEN TEXT CORP COM OTEX	OTEX	2,754,034	$114.4m5.09%	5.09%	Reduced -176.1k	-176,078 -6.0%
6	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	170,572	$89.0m3.96%	3.96%	Reduced -11.2k	-11,159 -6.1%
7	FISERV INC COM FISV	FISV	676,123	$85.3m3.79%	3.79%	Reduced -40.0k	-39,971 -5.6%
8	CGI INC CL A SUB VTG GIB	GIB	750,404	$79.1m3.52%	3.52%	Reduced -44.1k	-44,144 -5.6%
9	MSC INDL DIRECT INC CL A MSM	MSM	811,853	$77.4m3.44%	3.44%	Reduced -64.6k	-64,598 -7.4%
10	ENERSYS COM ENS	ENS	690,833	$75.0m3.33%	3.33%	Reduced -51.1k	-51,132 -6.9%
11	LKQ CORP COM LKQ	LKQ	1,262,552	$73.6m3.27%	3.27%	Reduced -64.0k	-63,950 -4.8%
12	FMC CORP COM NEW FMC	FMC	546,127	$57.0m2.53%	2.53%	Reduced -23.8k	-23,800 -4.2%
13	HOWARD HUGHES CORP COM HHC	HHC	648,701	$51.2m2.28%	2.28%	Reduced -39.5k	-39,466 -5.7%
14	EURONET WORLDWIDE INC COM EEFT	EEFT	401,980	$47.2m2.10%	2.10%	Reduced -23.9k	-23,930 -5.6%
15	FEDEX CORP COM FDX	FDX	187,545	$46.5m2.07%	2.07%	Reduced -10.3k	-10,287 -5.2%
16	VIASAT INC COM VSAT	VSAT	1,103,297	$45.5m2.02%	2.02%	Reduced -82.0k	-81,990 -6.9%
17	WARNER BROS DISCOVERY INC COM SER A WBD	WBD	3,370,502	$42.3m1.88%	1.88%	Added +10.8k	+10,764 0.3%
18	ELEMENT SOLUTIONS INC COM ESI	ESI	2,036,599	$39.1m1.74%	1.74%	Reduced -148.3k	-148,336 -6.8%
19	BROOKFIELD CORP CL A LTD VT SH BN	BN	1,129,271	$38.0m1.69%	1.69%	Reduced -51.2k	-51,232 -4.3%
20	KEMPER CORP COM KMPR	KMPR	776,318	$37.5m1.67%	1.67%	Added +422.0k	+421,955 119.1%
21	HANESBRANDS INC COM HBI	HBI	8,074,471	$36.7m1.63%	1.63%	Reduced -943.0k	-942,959 -10.5%
22	KFORCE INC COM KFRC	KFRC	566,224	$35.5m1.58%	1.58%	Reduced -47.2k	-47,228 -7.7%
23	SS&C TECHNOLOGIES HLDGS INC COM SSNC	SSNC	548,059	$33.2m1.48%	1.48%	Reduced -33.3k	-33,258 -5.7%
24	AMN HEALTHCARE SVCS INC COM AMN	AMN	301,491	$32.9m1.46%	1.46%	Reduced -23.7k	-23,690 -7.3%
25	AVANTOR INC COM AVTR	AVTR	1,516,121	$31.1m1.38%	1.38%	Reduced -111.4k	-111,420 -6.8%
26	DIGITALBRIDGE GROUP INC CL A NEW CL A NEW		2,063,104	$30.3m1.35%	1.35%	Added +996.3k	+996,333 93.4%
27	ONESPAWORLD HOLDINGS LIMITED COM OSW	OSW	2,472,274	$29.9m1.33%	1.33%	Reduced -183.4k	-183,369 -6.9%
28	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	125,005	$29.4m1.31%	1.31%	Reduced -3.2k	-3,232 -2.5%
29	TREEHOUSE FOODS INC COM THS	THS	492,151	$24.8m1.10%	1.10%	Reduced -45.9k	-45,937 -8.5%
30	STANLEY BLACK & DECKER INC COM SWK	SWK	256,673	$24.1m1.07%	1.07%	Reduced -11.6k	-11,631 -4.3%
31	RUSH ENTERPRISES INC CL A RUSHA	RUSHA	392,966	$23.9m1.06%	1.06%	Reduced -36.6k	-36,572 -8.5%
32	ASGN INC COM EFOR	EFOR	285,902	$21.6m0.96%	0.96%	Added +62.8k	+62,784 28.1%
33	FIRSTCASH HOLDINGS INC COM FCFS	FCFS	214,478	$20.0m0.89%	0.89%	Reduced -20.7k	-20,655 -8.8%
34	THERMON GROUP HLDGS INC COM COM		689,426	$18.3m0.82%	0.82%	Reduced -64.1k	-64,059 -8.5%
35	HOLOGIC INC COM HOLX	HOLX	204,412	$16.6m0.74%	0.74%	Reduced -15.5k	-15,510 -7.0%
36	WEX INC COM WEX	WEX	90,588	$16.5m0.73%	0.73%	Reduced -5.8k	-5,810 -6.0%
37	LIBERTY MEDIA CORP DEL COM C SIRIUSXM LSXMK	LSXMK	487,099	$15.9m0.71%	0.71%	Reduced -38.8k	-38,826 -7.4%
38	SIRIUS XM HOLDINGS INC COM SIRI	SIRI	3,372,334	$15.3m0.68%	0.68%	Reduced -73.7k	-73,679 -2.1%
39	NV5 GLOBAL INC COM NVEE	NVEE	132,818	$14.7m0.65%	0.65%	Reduced -12.3k	-12,329 -8.5%
40	GARRETT MOTION INC COM GTX	GTX	1,905,558	$14.4m0.64%	0.64%	Reduced -175.8k	-175,796 -8.4%
41	MARRIOTT VACATIONS WORLDWIDE COM VAC	VAC	115,425	$14.2m0.63%	0.63%	Reduced -10.8k	-10,764 -8.5%
42	SHOE CARNIVAL INC COM SHOE	SHOE	600,747	$14.1m0.63%	0.63%	Added +394.5k	+394,453 191.2%
43	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		432,366	$13.6m0.61%	0.61%	Reduced -25.9k	-25,910 -5.7%
44	AMERISAFE INC COM AMSF	AMSF	225,218	$12.0m0.53%	0.53%	Reduced -21.1k	-21,068 -8.6%
45	ARES CAPITAL CORP COM ARCC	ARCC	608,581	$11.4m0.51%	0.51%	Reduced -54.9k	-54,938 -8.3%
46	UNIFIRST CORP MASS COM UNF	UNF	58,475	$9.1m0.40%	0.40%	Reduced -5.5k	-5,477 -8.6%
47	ISHARES TR RUS 2000 VAL ETF IWN	IWN	61,630	$8.7m0.39%	0.39%	Reduced -5.7k	-5,690 -8.4%
48	UPLAND SOFTWARE INC COM COM		1,603,584	$5.8m0.26%	0.26%	Added +690.4k	+690,417 75.6%
49	FIDELITY NATL INFORMATION SV COM FIS	FIS	101,047	$5.5m0.25%	0.25%	Reduced -7.2k	-7,226 -6.7%
50	AMDOCS LTD SHS DOX	DOX	45,420	$4.5m0.20%	0.20%	Reduced -1.7k	-1,711 -3.6%
51	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	100,757	$3.3m0.15%	0.15%	Reduced -28.1k	-28,089 -21.8%
52	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	64,183	$3.2m0.14%	0.14%	Reduced -2.1k	-2,112 -3.2%
53	ISHARES TR SELECT DIVID ETF DVY	DVY	16,300	$1.8m0.08%	0.08%	Unchanged
54	ISHARES TR RUS MID CAP ETF IWR	IWR	24,695	$1.8m0.08%	0.08%	Added +19.7k	+19,745 398.9%
55	Invesco Floating Rate ESG Fund MF AFRFX	AFRFX	235,671	$1.6m0.07%	0.07%	Added +4.9k	+4,878 2.1%
56	LIBERTY MEDIA CORP DEL COM A SIRIUSXM LSXMA	LSXMA	35,650	$1.2m0.05%	0.05%	Reduced -50	-50 -0.1%
57	ISHARES TR 1 3 YR TREAS BD SHY	SHY	9,405	$762.6k0.03%	0.03%	Unchanged
58	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	7,189	$459.7k0.02%	0.02%	Unchanged
59	BROOKFIELD INFRAST PARTNERS LP INT UNIT BIP	BIP	7,750	$282.9k0.01%	0.01%	Unchanged
60	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,500	$200.7k0.01%	0.01%	New
61	FIRST HORIZON CORPORATION COM FHN	FHN	10,117	$114.0k0.01%	0.01%	Unchanged

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
EVOQUA WATER TECHNOLOGIES CO AQUA	AQUA	754,643	$37.5m754.6k shares