Each Premiership club was ranked based on "its leadership, management quality and capability for creating sustainable value; not only with respect to its players but from all human capital."
The report said that Southampton won out for being driven by core football values, and that it was a club "where people are viewed as a source of value and not just as a cost."
However the report stressed that Southampton "A" rating meant there was still room for improvement.
It added that despite its massive wealth, Manchester United - the wealthiest club in the league - was an example of "management incoherence" as global branding had become its "core focus."
While Arsenal came high on the list, it was also criticised for becoming too embedded in "[Manager Arsene] Wenger's narrative and approach," leaving the club at great risk if and when he departs.
Leicester City FC only came 13th on the list despite its shock Premiership win, but the report still gave credit to the club for not taking unnecessary risks and adopting "accurate methods of predicting and planning" for the future.
Here's a look at where each team ranked:
Fan engagement was a major factor in the rankings, with Swansea praised for having fan representation at board level. The report also encouraged teams to cultivate talent at a youth level rather than relying too much on "external hires."
Ownership motivations were also crucial to a club's overall well-being - "financial opportunist" owners and a "brand managers" put clubs in bad stead against owners who wanted to create long-term value.
Southampton's strong club management seems to have paid off this season - it's currently seventh in the Premier League, above both Liverpool and Chelsea.