Global Alpha Capital Management Ltd.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Global Alpha Capital Management Ltd. reported 58 stock positions worth $1.4 billion. Its top holding was Ormat Technologies (ORA) at 11.5% of the portfolio, followed by Sanmina (SANM, 4.5%) and Limoneira (LMNR, 4.2%). Compared with Q4 2024, it opened 4 new positions, sold out of 2, added to 37 and reduced 12. The biggest buy was a new position in Armstrong World Industries (AWI) and the biggest sale Globus Medical Class A (GMED, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001584691
- Portfolio Value
- $1.4B (Q1 2025)
- SEC Filing
- 0001584691-25-000009 ↗ filed May 12, 2025
Holdings Value
Holdings 58 stocks · $1.4B
| ORA Ormat Technologies Inc. | 11.53% | 2,250,597 | $158.4M | Reduce -0.8% |
| SANM Sanmina Corp. | 4.52% | 814,691 | $62.1M | Add +8.4% |
| LMNR Limoneira Co. | 4.23% | 3,278,681 | $58.1M | Add +0.4% |
| GMED Globus Medical Inc. Class A | 3.77% | 707,691 | $51.8M | Reduce -13.6% |
| UMBF Umb Financial Corp. | 3.76% | 511,137 | $51.7M | Add +21.1% |
| ANIP Ani Pharmaceuticals Inc. | 3.58% | 735,590 | $49.2M | Add +17.8% |
| ACIW Aci Worldwide Inc. | 3.57% | 896,169 | $49.0M | Add +1.3% |
| CWST Casella Waste Systems Inc. Class A | 3.21% | 394,942 | $44.0M | Add +0.7% |
| RUSHA Rush Enterprises Inc. Class A | 3.14% | 807,290 | $43.1M | Add +2.3% |
| RLI Rli Corp. | 3.06% | 523,086 | $42.0M | Add +13.9% |
| PRAA Pra Group Inc. | 3.03% | 2,018,200 | $41.6M | Add +6.5% |
| RYN Rayonier Inc. | 2.83% | 1,392,099 | $38.8M | Add +20.9% |
| DNOW Dnow Inc. | 2.82% | 2,266,026 | $38.7M | Reduce -13.4% |
| FPI Farmland Partners Inc. | 2.81% | 3,465,969 | $38.6M | Add +2.3% |
| EVR Evercore Inc. Class A | 2.78% | 191,385 | $38.2M | Add +27.6% |
| CW Curtiss-Wright Corp. | 2.72% | 117,597 | $37.3M | Add +40.6% |
| FSS Federal Signal Corp. | 2.57% | 479,713 | $35.3M | Add +22.5% |
| WTFC Wintrust Financial Corp. | 2.41% | 293,913 | $33.1M | Reduce -1.1% |
| ATNI Atn International Inc. | 2.37% | 1,600,798 | $32.5M | Add +4.4% |
| GXO Gxo Logistics Inc. | 2.32% | 816,430 | $31.9M | Add +7.8% |
| VRNT Verint Systems Inc. | 2.27% | 1,750,603 | $31.2M | Add +1.9% |
| EXP Eagle Materials Inc. | 2.23% | 138,270 | $30.7M | Add +28.8% |
| GPOR Gulfport Energy Corp. | 2.09% | 156,160 | $28.8M | Add +26.4% |
| AA Alcoa Corp. | 2.06% | 925,771 | $28.2M | Add +13.3% |
| RDNT Radnet Inc. | 2.01% | 555,091 | $27.6M | Add +14.0% |
| SII Sprott Inc. | 1.96% | 602,308 | $27.0M | Add +41.0% |
| THRM Gentherm Inc. | 1.75% | 898,083 | $24.0M | Add +14.7% |
| DIOD Diodes Inc. | 1.69% | 539,170 | $23.3M | Add +107.6% |
| AWI Armstrong World Industries | 1.55% | 151,200 | $21.3M | New |
| HP Helmerich & Payne | 1.39% | 729,481 | $19.1M | Reduce -19.6% |
| SAM Boston Beer Company Inc. Class A | 1.39% | 79,734 | $19.0M | Add +2.4% |
| OXM Oxford Industries Inc. | 1.23% | 288,300 | $16.9M | Add +37.7% |
| CLNE Clean Energy Fuels Corp. | 1.10% | 9,750,076 | $15.1M | Add +31.9% |
| DGII Digi International Inc. | 1.01% | 497,150 | $13.8M | Reduce -15.4% |
| BC Brunswick Corp. | 0.84% | 214,928 | $11.6M | Reduce -10.9% |
| OR Osisko Gold Royalties Ltd. | 0.61% | 395,422 | $8.3M | Reduce -58.3% |
| CSTE Caesarstone Ltd. | 0.55% | 3,133,403 | $7.6M | Add +2.8% |
| PRMB Primo Brands Corp. | 0.25% | 95,072 | $3.4M | Add +8.2% |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 0.24% | 33,251 | $3.3M | Reduce -20.4% |
| ZWS Zurn Elkay Water Solutions C | 0.23% | 97,740 | $3.2M | No change |
| ENS Enersys | 0.23% | 33,908 | $3.1M | Add +1.1% |
| MWA Mueller Water Products Inc. Class A | 0.21% | 112,049 | $2.8M | Reduce -11.7% |
| BCPC Balchem Corp. | 0.21% | 17,109 | $2.8M | No change |
| AGM Federal Agric MTG Corp. Class C | 0.21% | 15,107 | $2.8M | Add +7.6% |
| COLD Americold Realty Trust Inc. | 0.20% | 130,751 | $2.8M | Add +11.1% |
| LRN Stride Inc. | 0.20% | 21,954 | $2.8M | Reduce -17.5% |
| VMI Valmont Industries | 0.16% | 7,705 | $2.2M | No change |
| VCEL Vericel Corp. | 0.15% | 47,337 | $2.1M | Add +91.5% |
| OPCH Option Care Health Inc. | 0.15% | 58,161 | $2.0M | Reduce -15.5% |
| BFAM Bright Horizons Family Solut | 0.14% | 15,030 | $1.9M | No change |
| HAE Haemonetics Corp. | 0.13% | 27,553 | $1.8M | Add +61.1% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.12% | 111,506 | $1.6M | Add +50.9% |
| POWI Power Integrations Inc. | 0.11% | 30,545 | $1.5M | Add +15.2% |
| PCRX Pacira Biosciences Inc. | 0.10% | 57,086 | $1.4M | Add +43.1% |
| CCOI Cogent Communications Holdin | 0.08% | 17,450 | $1.1M | No change |
| LMB Limbach Holdings Inc. | 0.07% | 12,950 | $964K | New |
| SEDG Solaredge Technologies Inc. | 0.05% | 44,462 | $719K | New |
| WNS WNS Holdings Ltd. filed as WNS HLDGS LTD | 0.02% | 3,530 | $217K | New |
Portfolio Sells Q4 2024 → Q1 2025
| GMED Globus Medical Inc. Class A | Reduce -13.6% | 3.77% | −1.15 |
| HP Helmerich & Payne | Reduce -19.6% | 1.39% | −0.72 |
| OR Osisko Gold Royalties Ltd. | Reduce -58.3% | 0.61% | −0.64 |
| BC Brunswick Corp. | Reduce -10.9% | 0.84% | −0.29 |
| WTFC Wintrust Financial Corp. | Reduce -1.1% | 2.41% | −0.28 |
| DGII Digi International Inc. | Reduce -15.4% | 1.01% | −0.28 |
| VITL Vital Farms Inc. | Sold out | 0.00% | −0.19 |
| HCSG Healthcare Services Group | Sold out | 0.00% | −0.06 |
| CVSA Covista Inc. | Reduce -20.4% | 0.24% | −0.03 |
| MWA Mueller Water Products Inc. Class A | Reduce -11.7% | 0.21% | +0.00 |
| LRN Stride Inc. | Reduce -17.5% | 0.20% | +0.00 |
| OPCH Option Care Health Inc. | Reduce -15.5% | 0.15% | +0.03 |
| ORA Ormat Technologies Inc. | Reduce -0.8% | 11.53% | +0.29 |
| DNOW Dnow Inc. | Reduce -13.4% | 2.82% | +0.35 |
Portfolio Buys Q4 2024 → Q1 2025
| AWI Armstrong World Industries | New | 1.55% | +1.55 |
| ANIP Ani Pharmaceuticals Inc. | Add +17.8% | 3.58% | +1.08 |
| SII Sprott Inc. | Add +41.0% | 1.96% | +0.66 |
| RYN Rayonier Inc. | Add +20.9% | 2.83% | +0.65 |
| CW Curtiss-Wright Corp. | Add +40.6% | 2.72% | +0.56 |
| DIOD Diodes Inc. | Add +107.6% | 1.69% | +0.53 |
| ATNI Atn International Inc. | Add +4.4% | 2.37% | +0.50 |
| GPOR Gulfport Energy Corp. | Add +26.4% | 2.09% | +0.44 |
| SANM Sanmina Corp. | Add +8.4% | 4.52% | +0.39 |
| RLI Rli Corp. | Add +13.9% | 3.06% | +0.31 |
| EXP Eagle Materials Inc. | Add +28.8% | 2.23% | +0.31 |
| UMBF Umb Financial Corp. | Add +21.1% | 3.76% | +0.31 |
| ACIW Aci Worldwide Inc. | Add +1.3% | 3.57% | +0.24 |
| CWST Casella Waste Systems Inc. Class A | Add +0.7% | 3.21% | +0.19 |
| PRAA Pra Group Inc. | Add +6.5% | 3.03% | +0.15 |
| LMB Limbach Holdings Inc. | New | 0.07% | +0.07 |
| VCEL Vericel Corp. | Add +91.5% | 0.15% | +0.06 |
| SEDG Solaredge Technologies Inc. | New | 0.05% | +0.05 |
| PRMB Primo Brands Corp. | Add +8.2% | 0.25% | +0.05 |
| PCRX Pacira Biosciences Inc. | Add +43.1% | 0.10% | +0.05 |
| OXM Oxford Industries Inc. | Add +37.7% | 1.23% | +0.03 |
| HAE Haemonetics Corp. | Add +61.1% | 0.13% | +0.03 |
| COLD Americold Realty Trust Inc. | Add +11.1% | 0.20% | +0.02 |
| ONT Onterris Inc. | Add +50.9% | 0.12% | +0.02 |
| WNS WNS Holdings Ltd. | New | 0.02% | +0.02 |
| AGM Federal Agric MTG Corp. Class C | Add +7.6% | 0.21% | +0.01 |
| ENS Enersys | Add +1.1% | 0.23% | +0.00 |
| RUSHA Rush Enterprises Inc. Class A | Add +2.3% | 3.14% | +0.00 |
| POWI Power Integrations Inc. | Add +15.2% | 0.11% | −0.01 |
| FSS Federal Signal Corp. | Add +22.5% | 2.57% | −0.06 |
| GXO Gxo Logistics Inc. | Add +7.8% | 2.32% | −0.07 |
| FPI Farmland Partners Inc. | Add +2.3% | 2.81% | −0.08 |
| AA Alcoa Corp. | Add +13.3% | 2.06% | −0.19 |
| EVR Evercore Inc. Class A | Add +27.6% | 2.78% | −0.23 |
| CLNE Clean Energy Fuels Corp. | Add +31.9% | 1.10% | −0.25 |
| SAM Boston Beer Company Inc. Class A | Add +2.4% | 1.39% | −0.31 |
| CSTE Caesarstone Ltd. | Add +2.8% | 0.55% | −0.39 |
| RDNT Radnet Inc. | Add +14.0% | 2.01% | −0.46 |
| THRM Gentherm Inc. | Add +14.7% | 1.75% | −0.52 |
| VRNT Verint Systems Inc. | Add +1.9% | 2.27% | −1.15 |
| LMNR Limoneira Co. | Add +0.4% | 4.23% | −1.56 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 48 | $1.7B | ORA, UMBF, SANM, CVLT, GMED |
| Q1 2026 | 54 | $1.7B | ORA, SANM, UMBF, GMED, DIOD |
| Q4 2025 | 56 | $1.6B | ORA, SANM, UMBF, GMED, AA |
| Q3 2025 | 56 | $1.7B | ORA, SANM, UMBF, SCZ, GMED |
| Q2 2025 | 56 | $1.6B | ORA, SANM, UMBF, GMED, CWST |
| Q1 2025 | 58 | $1.4B | ORA, SANM, LMNR, GMED, UMBF |
| Q4 2024 | 56 | $1.4B | ORA, LMNR, GMED, SANM, UMBF |
| Q3 2024 | 57 | $1.5B | ORA, LMNR, RDNT, ACIW, GMED |
| Q2 2024 | 57 | $1.4B | ORA, CW, LMNR, GMED, ACIW |
| Q1 2024 | 55 | $1.3B | ORA, CW, ACIW, LMNR, FSS |