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USC star freshman Isaiah Collier debuted in our annual CBS Sports freshman rankings as the No. 1 player on this prestigious list and held firm in that spot for the last six weeks despite rocky play from his team and declining stats.

That is no longer the case. 

There is a new freshman atop the first rankings of 2024 and that honor goes to Kentucky do-it-all guard Reed Sheppard. Yes, Sheppard was a highly touted recruit coming out of high school, but he was Kentucky's fifth highest-ranked recruit in its own top-ranked 2023 class. Sheppard was the No. 79 player in the 2023 recruiting cycle and teammates Aaron Bradshaw, Justin Edwards, D.J. Wagner and Rob Dillingham were all ranked ahead of him.

Sheppard has soared up NBA Draft boards because of his play off the bench and Wildcats look fun again under coach John Calipari. If Kentucky's freshman core can sustain this level of play going forward, the Wildcats will be a tough out in the NCAA Tournament.

Let's jump into our rankings and get to our CBS Sports/USBWA Freshman of the Week for the the 2023-24 college basketball season

Freshman of the Week: Jackson Shelstad, Oregon

Welcome back to the Frosh Watch, our weekly ranking of the five most impressive freshmen in college basketball. CBS Sports has once again teamed up with the United States Basketball Writers Association and its Wayman Tisdale Freshman of the Year Award to present this every-Tuesday feature. Each week we'll start by announcing the national Freshman of the Week honoree. The cycle for FOTW runs Tuesday-Monday.

Oregon guard Jackson Shelstad is coming off the best two-game stretch of his college career in wins over UCLA and USC. Shelstad scored 21 points in a win over the Trojans and followed it up two days later by scoring 20 points against the Bruins on CBS. 

After scoring only eight points in his collegiate debut against Santa Clara on Nov. 24, Shelstad has scored in double-figures in all eight games since — including 15+ points in his last five outings. Shelstad ranked as the No. 26 overall player in the 2023 recruiting cycle by 247Sports and was someone that was listed as a preseason impact freshmen.

Oregon currently sits at 10-3 and are one of four teams in the Pac-12 (Colorado, Utah and Arizona State being the others) to start conference play 2-0. If he continues to play at this pace, Shelstad will be an anchor on an NCAA Tournament team.

Frosh Watch: Top 10 freshman rankings

1. Reed Sheppard, Kentucky

Stats: 12.5 PPG | 4.7 RPG | 4.3 APG | 57..8% FG

Last week, I mentioned that you could make the argument that Sheppard (who was previously ranked No. 5) was three or four spots too low on our rankings. With it being the new year and everyone getting a clean slate because of conference play on the horizon for some, it was time to readjust our rankings and expand them. That led to Sheppard getting the nod as the No. 1 player (for now) in his respective case.Sheppard has played his role as good as anyone in the country (regardless of class) because he is an instant spark off the bench. Justin Edwards and D.J. Wagner were regraded as the two-best Kentucky freshmen on the roster coming into the season and that honor (through the first two months of the season) can be given to Sheppard and Rob Dillingham.

2. Ja'Kobe Walter, Baylor

Stats: 15.3 PPG | 3.8 RPG | 1.3 SPG

Walter wasn't in action last week, but his last outing was one of the best of his career. Walter came up just short of a career-high by scoring 26 points in 23 minutes during a blowout win of Mississippi Valley State. Walter is one of the best 3-point shooters in this freshman class and he hit a career-high five shots from distance in that win. Baylor starts Big 12 play later this week against Oklahoma State.

3. Isaiah Collier, USC

Stats: 15.0 PPG | 4.2 APG  | 2.7 RPG | 49.3% FG

There hasn't been much movement near the top of these rankings outside of Walter dropping a spot in favor of Dillingham a few weeks ago ... until now. Collier was ranked as the No. 1 player for the last month and half and some shaky play by him are the biggest reasons for the drop. In his latest outing against Oregon State, Collier scored seven points and turned the ball over five times. The turnovers were a major issue at the start of the season and it was something that Collier appeared to clean up during the heart of nonconference play. Collier still has as good of a chance as anyone to go No. 1 this summer in the 2024 NBA Draft, but the chances of him playing in the NCAA Tournament this spring appear to be on life support unless USC has a dramatic turnaround.

4. Rob Dillingham, Kentucky

Stats: 14.3 PPG | 4.5 APG | 3.8 RPG | 47.0% FG

Death, taxes and ... Kentucky guards. Dillingham has been sensational for the Wildcats this season off the bench and recorded 16 points, seven assists, three steals and three rebounds in 22 minutes during a win over Illinois State last week. Dillingham is averaging only 22.9 minutes per game this season, but he has made every single one of them count. Dillingham has been one of the most entertaining players in the country to watch this season.

5. PJ Haggerty, Tulsa

Stats: 17.2 PPG | 4.2 RPG | 3.2 APG | 44.8% FG

A change of scenery can be a great thing and for Haggerty, that's certainly been the case. After appearing in only six total games for TCU last season, Haggerty hit the transfer portal and found a new home at Tulsa. Haggerty has been one of the top scorers among all freshmen this season and is a major reason why Tulsa is off to a 9-3 start. Haggerty scored 21 points in his last outing and has scored 20+ points five times this season.

6. Malik Mack, Harvard

Stats: 20.1 PPG | 4.4 APG | 4.0 RPG

Mack hasn't been in action since scoring 17 points in a win over Army last month and it's unclear when his next appearance will be after the school announced he would be out indefinitely due to mononucleosis. Mack has been the leading scorer amongst all freshmen this season and his absence is a devastating blow for the Crimson. Harvard will need its star guard back as quickly as possible if they want to make some noise in the Ivy League.

7. Carlton Carrington, Pitt

Stats: 14.1 PPG | 5.3 RPG | 5.2 APG

In our initial rankings, Carrington debuted at No. 5, but has been absent since. Carrington was certainly on the bubble for the rankings and the expanded list helped him earn a spot. Carrington is someone that is on (potential) triple-double watch every night and recorded 17 points, seven rebounds and five assists in his last game against Syracuse. Carrington started his career with a triple-double and it wouldn't surprise anyone if he recorded another one before the end of the season.

8. Jared McCain, Duke

Stats: 11.7 PPG | 4.1 RPG | 47.1% FG

It's safe to say that McCain has hit his stride. The former five-star recruit has been a staple in the Duke starting lineup this season, but stepped up his game tremendously in the absence of star guard Tyrese Proctor. McCain has scored 20+ points in three of his last four games and recorded a career-high 24 points in only 26 minutes in a win over Queens. Proctor's return to the starting lineup will help Duke, but McCain maintaining this level of play will impact the team even more.

9. Josh Hubbard, Mississippi State

Stats: 14.5 PPG | 2.1 RPG | 0.8 SPG

In the absence of star big man Tolu Smith, Hubbard has helped Mississippi State get off to a hot start. The Bulldogs are 11-2 heading into SEC play and with Smith back in the fold, he can offer a true 1-2 punch with the star freshman. Hubbard scored 11 points in 23 minutes against Bethune-Cookman in their first game together and that duo will be one to monitor going forward. Hubbard is one of four players making his first appearance on these rankings.

10. Myles Rice, Washington State

Stats: 14.2 PPG | 2.8 APG | 2.5 RPG

Myles Rice has been one of the stories of the college basketball season. Washington State was the lone program from a major conference to offer him out of high school and he didn't play during last season because he was receiving chemotherapy treatment for non-Hodgkin lymphoma. Rice was diagnosed in September 2022 and went into remission earlier this summer. He has been a major reason why Washington State is off to a 9-4 start.