Sec Form 13D Filing - Southpoint Capital Advisors LP filing for IES Holdings Inc. (IESC) - 2007-09-07

1		NAMES OF REPORTING PERSONS Southpoint Fund LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 20-1095649
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Delaware
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		PN

1		NAMES OF REPORTING PERSONS Southpoint Qualified Fund LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 20-1095583
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Delaware
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		PN

1		NAMES OF REPORTING PERSONS Southpoint Offshore Fund, Ltd. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Cayman Islands
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		PN

1		NAMES OF REPORTING PERSONS Southpoint Capital Advisors LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 20-0975910
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Delaware
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		IA, PN

1		NAMES OF REPORTING PERSONS Southpoint GP, LP I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 20-1095514
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Delaware
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		PN

1		NAMES OF REPORTING PERSONS Southpoint Capital Advisors LLC < br> I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 20-0975900
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Delaware
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		OO

1		NAMES OF REPORTING PERSONS Southpoint GP, LLC I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) 20-1064783
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		Delaware
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		OO

1		NAMES OF REPORTING PERSONS Robert W. Butts I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		United States
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARE D DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		IN

1		NAMES OF REPORTING PERSONS John S. Clark II I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
		(a)   o
		(b)   o
3		SEC USE ONLY
4		SOURCE OF FUNDS *
		OO
5		CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
		o
6		CITIZENSHIP OR PLACE OF ORGANIZATION
		United States
			7		SOLE VOTING POWER
NUMBER OF					0
SHARES			8		SHARED VOTING POWER
BENEFICIALLY
OWNED BY					0
EACH			9		SOLE DISPOSITIVE POWER
REPORTING
PERSON					0
WITH			10		SHARED DISPOSITIVE POWER
					0
11		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
		0
12		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES *
		o
13		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0%
14		TYPE OF REPORTING PERSON *
		IN

SCHEDULE 13D/A

Item 1. Security and Issuer

          This Amendment No. 1 to Schedule 13D (this “Schedule 13D/A”) relates to shares of common stock, $0.01 par value (the “Common Stock”), of Integrated Electrical Services, Inc., a Delaware corporation (the “Issuer”). The Issuer’s principal executive offices are located at 1800 West Loop South, Suite 500, Houston, Texas 77027. This Schedule 13D/A is being filed by the Reporting Persons to report that, as a result of a recent sale of shares of Common Stock, each of the Reporting Persons is no longer the beneficial owner of more than five percent of the outstanding shares of Common Stock of the Company.

Item 2. Identity and Background

          (a) This statement is filed by: (i) Southpoint Master Fund, LP, a Cayman Islands exempted limited partnership (the “Master Fund”), as the holder of the shares of Common Stock; (ii) Southpoint Fund LP, a Delaware limited partnership (the “Fund”); (iii) Southpoint Qualified Fund LP, a Delaware limited partnership (the “Qualified Fund”); (iv) Southpoint Offshore Fund, Ltd., a Cayman Island exempted company (the “Offshore Fund”); (v) Southpoint GP, LLC (“Southpoint GP LLC”), a Delaware limited liability company; (vi) Southpoint Capital Advisors LLC (“Southpoint CA LLC”), a Delaware limited liability company; (vii) Southpoint Capital Advisors LP (“Southpoint Advisors”), a Delaware limited partnership; (viii) Southpoint GP, LP (“Southpoint GP”), a Delaware limited partnership; (ix) Robert W. Butts, a citizen of the United States; and (x) John S. Clark II, a citizen of the United States. Robert W. Butts and John S. Clark II are members of each of Southpoint GP LLC and Southpoint CA LLC and limited partners of each of Southpoint Advisors and Southpoint GP. Southpoint GP LLC is the general partner of Southpoint GP. Southpoint GP is the general partner of the Fund, the Qualified Fund and the Master Fund. The Offshore Fund, the Fund, and the Qualified Fund are also general partners of the Master Fund. The persons mentioned in (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix), and (x) are referred to as the “Reporting Persons”.

          (b) The address of the principal business and principal office of the Offshore Fund is c/o Bank of Bermuda (Cayman) Limited; P.O. Box 513 G.T.; Strathvale House; North Church Street; George Town, Grand Cayman; Cayman Islands. The address of the principal business and principal office of each of the remaining Reporting Persons is: 623 Fifth Avenue, Suite 2601, New York, NY 10022.

          (c) The principal business of the Master Fund is serving as a master fund investment vehicle for investments by the Fund, the Qualified Fund, and the Offshore Fund. The principal business of Southpoint Advisors is providing investment management services to the Fund, the Qualified Fund, the Offshore Fund and the Master Fund. The principal occupation of Mr. Butts and Mr. Clark is investment management.

          (d) None of the Reporting Persons have, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

          (e) None of the Reporting Persons have, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.

(f)		- The Master Fund is a Cayman Islands exempted limited partnership.
		- The Fund is a Delaware limited partnership.
		- The Qualified Fund is a Delaware limited partnership.
		- The Offshore Fund is a Cayman Island exempted company.
		- Southpoint GP LLC is a Delaware limited liability company.
		- Southpoint CA LLC is a Delaware limited liability company.
		- Southpoint Advisors is a Delaware limited partnership.
		- Southpoint GP is a Delaware limited partnership.
		- Robert W. Butts is a United States citizen.
		- John S. Clark II is a United States citizen.

Item 4. Interest in Securities of the Issuer

          (a) As of September 7, 2007, the Reporting Persons beneficially own 0 shares of Common Stock of the Issuer, which represents 0% of the Issuer’s outstanding shares of Common Stock.

          (b) The Reporting Persons have the power to vote and dispose of the 0 shares of Common Stock held by the Master Fund.

          (c) The transactions in the Issuer’s securities by the Reporting Persons in the last sixty days are listed as Exhibit 1 attached hereto and made a part hereof.

          (d) Not Applicable.

          (e) As of September 7, 2007, the Reporting Persons ceased to be the beneficial owners of more than five percent of the shares of Common Stock.

Item 6. Material to be Filed as Exhibits

Exhibit 1		Transactions in the Issuer’s securities by the Reporting Persons in the last sixty days.

Exhibit 2		Joint Filing Agreement dated September 7, 2007, among the Reporting Persons.

Signature

     After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: September 7, 2007

		SOUTHPOINT MASTER FUND, LP
		By:		Southpoint GP LP, its general partner
				By:		Southpoint GP, LLC
						its general partner
				By:				/s/ Robert W. Butts
				Name:				Robert W. Butts
				Title:				Manager
		SOUTHPOINT FUND LP
		By:		Southpoint GP LP, its general partner
				By:		Southpoint GP, LLC
						its general partner
				By:				/s/ Robert W. Butts
				Name:				Robert W. Butts
				Title:				Manager
		SOUTHPOINT QUALIFIED FUND, LP
		By:		Southpoint GP LP, its general partner
				By:		Southpoint GP, LLC
						its general partner
				By:				/s/ Robert W. Butts
				Name:				Robert W. Butts
				Title:				Manager

		SOUTHPOINT OFFSHORE FUND, LTD.
		By:		/s/ Robert W. Butts
		Name:		Robert W. Butts
		Title:		Director
		SOUTHPOINT CAPITAL ADVISORS, LP
		By:		Southpoint Capital Advisors LLC
				its general partner
				By:		/s/ Robert W. Butts
				Name:		Robert W. Butts
				Title:		Manager
		SOUTHPOINT GP, LP
		By:		Southpoint GP, LLC
				its general partner
				By:		/s/ Robert W. Butts
				Name:		Robert W. Butts
				Title:		Manager
		SOUTHPOINT CAPITAL ADVISORS, LLC
		By:		/s/ Robert W. Butts
		Name:		Robert W. Butts
		Title:		Manager

		SOUTHPOINT GP, LLC
		By:		/s/ Robert W. Butts
		Name:		Robert W. Butts
		Title:		Manager

		/s/ Robert W. Butts
		Robert W. Butts
		/s/ John S. Clark II
		John S. Clark II