NEW SOUTH CAPITAL MANAGEMENT INC

Long Only Manager • Value

NEW SOUTH CAPITAL MANAGEMENT INC is a Value-focused institution based in Memphis, TN led by David Stephen Morrow, reporting $2.6B in AUM as of Q3 2025 with 54% concentrated in top 10 holdings.

PresidentDavid Stephen Morrow

Portfolio Value: $2.2B
Positions: 57
Top Holding: VRT at 11.57%
Last Reported: Q3 2025

Address999 S. Shady Grove Road, Suite 501, Memphis, TN, 38120-4129, United States

Top Holdings

Largest long holdings in NEW SOUTH CAPITAL MANAGEMENT INC's portfolio (54.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Vertiv Holdings Co VRT	Electrical Equipment & Parts Industrials	$253.8M	11.57%	-$23.9M Sold	0.44% 1.7M shares	Q1 2020 Held for 5y 8m
2 AutoZone AZO	Specialty Retail Consumer Cyclical	$192.2M	8.76%	-$6.7M Sold	0.27% 44.8K shares	≤ Q2 2013 Held for 12y 5m+
3 Wesco International WCC	Industrial - Distribution Industrials	$131.8M	6.01%	-$649.3K Sold	1.28% 623.4K shares	Q1 2016 Held for 9y 8m
4 Zebra Technologies ZBRA	Communication Equipment Technology	$117.1M	5.34%	-$1.4M Sold	0.78% 394.1K shares	≤ Q2 2013 Held for 12y 5m+
5 Royalty Pharma RPRX	Biotechnology Healthcare	$103.0M	4.69%	+$1.1M Bought	0.68% 2.9M shares	Q1 2024 Held for 1y 8m
6 EnerSys ENS	Electrical Equipment & Parts Industrials	$96.9M	4.42%	+$17.9M Bought	2.29% 857.6K shares	Q3 2019 Held for 6y 2m
7 Open Text OTEX	Software - Application Technology	$87.6M	3.99%	+$269.1K Bought	0.92% 2.3M shares	≤ Q2 2013 Held for 12y 5m+
8 Euronet Worldwide EEFT	Software - Infrastructure Technology	$74.9M	3.42%	+$12.4M Bought	2.15% 853.5K shares	Q2 2021 Held for 4y 5m
9 Thermo Fisher Scientific TMO	Medical - Diagnostics & Research Healthcare	$71.9M	3.28%	-$1.2M Sold	0.04% 148.3K shares	≤ Q2 2013 Held for 12y 5m+
10 Fiserv FI	Information Technology Services Technology	$65.5M	2.99%	+$2.6M Bought	0.09% 508.0K shares	Q4 2022 Held for 2y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in NEW SOUTH CAPITAL MANAGEMENT INC's latest filing

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Market Value

$2.2B

Prior: $2.1B

Q/Q Change

+6.29%

+$129.8M

Net Flows % of MV

+0.373%

Turnover Ratio

2.69%

New Purchases

2 stocks

$11.1M

Added To

21 stocks

+$52.0M

Sold Out Of

1 stocks

$7.6M

Reduced Holdings

28 stocks

-$47.3M

Increased Positions

Position	Shares Δ	Change
1 Century Communities CCS	New	0 → 158.2K +$10.0M
2 SPDR S&P 500 ETF Trust SPY	New	0 → 1.6K +$1.0M
3 ASGN ASGN	+45.99%	312.4K → 456.1K +$6.8M
4 Consensus Cloud Solutions, Inc. CCSI	+38.57%	310.0K → 429.6K +$3.5M
5 EnerSys ENS	+22.63%	699.3K → 857.6K +$17.9M

Decreased Positions

Position	Shares Δ	Change
1 NV5 Global, Inc. NVEE	Sold	330.9K → 0 −$7.6M
2 iShares Russell 2000 Value IWN	-78.56%	8.9K → 1.9K −$1.2M
3 International Money Express IMXI	-45.82%	852.0K → 461.7K −$5.5M
4 Vertiv Holdings Co VRT	-8.61%	1.8M → 1.7M −$23.9M
5 SS&C Technologies SSNC	-5.17%	656.9K → 622.9K −$3.0M

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Analytics

Portfolio insights and performance metrics for NEW SOUTH CAPITAL MANAGEMENT INC

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Sector Allocation

Industrials

28.90%

Technology

22.50%

Consumer Cyclical

19.70%

Healthcare

9.00%

Financial Services

8.70%

Basic Materials

5.40%

Real Estate

2.00%

Utilities

1.00%

ETF

0.50%

Consumer Defensive

0.40%

Market Cap Distribution

Mega Cap (> $200B)

0.02%

Large Cap ($10B - $200B)

55.28%

Mid Cap ($2B - $10B)

36.77%

Small Cap ($300M - $2B)

5.27%

Micro Cap ($50M - $300M)

0.10%

N/A (ETF or Unknown)

2.56%

Portfolio Concentration

Top 10 Holdings %

54.47%

Top 20 Holdings %

77.62%

Top 50 Holdings %

99.76%

Top 100 Holdings %

100.0%