Global Alpha Capital Management Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Global Alpha Capital Management Ltd. reported 56 stock positions worth $1.7 billion. Its top holding was Ormat Technologies (ORA) at 9.6% of the portfolio, followed by Sanmina (SANM, 5.4%) and Umb Financial (UMBF, 4.4%). Compared with Q2 2025, it opened 3 new positions, sold out of 3, added to 13 and reduced 36. The biggest buy was a new position in iShares MSCI Eafe Small-Cap (SCZ) and the biggest sale Ormat Technologies (ORA, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001584691
- Portfolio Value
- $1.7B (Q3 2025)
- SEC Filing
- 0001584691-25-000018 ↗ filed Nov 13, 2025
Holdings Value
Holdings 56 stocks · $1.7B
| ORA Ormat Technologies Inc. | 9.62% | 1,747,800 | $168.2M | Reduce -16.4% |
| SANM Sanmina Corp. | 5.37% | 815,891 | $93.9M | Reduce -6.1% |
| UMBF Umb Financial Corp. | 4.36% | 643,844 | $76.2M | Reduce -0.1% |
| SCZ iShares MSCI Eafe Small-Cap | 3.92% | 893,600 | $68.6M | New |
| GMED Globus Medical Inc. Class A | 3.75% | 1,145,591 | $65.6M | Add +8.6% |
| GXO Gxo Logistics Inc. | 3.50% | 1,158,530 | $61.3M | Reduce -0.5% |
| GENI Genius Sports Ltd. | 3.35% | 4,733,700 | $58.6M | Add +12.8% |
| ANIP Ani Pharmaceuticals Inc. | 3.30% | 630,590 | $57.8M | Reduce -26.9% |
| FSS Federal Signal Corp. | 3.17% | 466,613 | $55.5M | Reduce -17.1% |
| EVR Evercore Inc. Class A | 3.13% | 162,435 | $54.8M | Reduce -0.6% |
| CWST Casella Waste Systems Inc. Class A | 3.11% | 573,965 | $54.5M | Add +9.0% |
| RDNT Radnet Inc. | 3.06% | 702,758 | $53.6M | Add +12.0% |
| ACIW Aci Worldwide Inc. | 2.82% | 935,269 | $49.4M | Reduce -0.5% |
| LMNR Limoneira Co. | 2.70% | 3,185,281 | $47.3M | Reduce -1.8% |
| CW Curtiss-Wright Corp. | 2.65% | 85,497 | $46.4M | Reduce -17.7% |
| RYN Rayonier Inc. | 2.57% | 1,691,299 | $44.9M | Reduce -0.5% |
| RUSHA Rush Enterprises Inc. Class A | 2.57% | 839,390 | $44.9M | Reduce -0.5% |
| DIOD Diodes Inc. | 2.56% | 841,670 | $44.8M | Reduce -0.5% |
| AA Alcoa Corp. | 2.44% | 1,296,971 | $42.7M | Add +31.6% |
| THRM Gentherm Inc. | 2.15% | 1,103,583 | $37.6M | Reduce -0.5% |
| VRNT Verint Systems Inc. | 2.13% | 1,840,603 | $37.3M | Reduce -25.4% |
| SII Sprott Inc. | 2.06% | 433,608 | $36.0M | Reduce -21.5% |
| EXP Eagle Materials Inc. | 1.94% | 145,293 | $33.9M | Reduce -5.7% |
| WTFC Wintrust Financial Corp. | 1.92% | 253,203 | $33.5M | Reduce -17.6% |
| AWI Armstrong World Industries | 1.91% | 170,190 | $33.4M | Reduce -0.5% |
| PRAA Pra Group Inc. | 1.85% | 2,100,900 | $32.4M | Reduce -0.5% |
| FPI Farmland Partners Inc. | 1.81% | 2,903,752 | $31.6M | Reduce -9.6% |
| DNOW Dnow Inc. | 1.77% | 2,025,526 | $30.9M | Reduce -0.5% |
| RLI Rli Corp. | 1.73% | 464,486 | $30.3M | Reduce -15.1% |
| GPOR Gulfport Energy Corp. | 1.68% | 162,360 | $29.4M | Reduce -0.5% |
| SAM Boston Beer Company Inc. Class A | 1.59% | 131,204 | $27.7M | Add +15.3% |
| GNTX Gentex Corp. | 1.41% | 874,100 | $24.7M | Reduce -0.5% |
| ATNI Atn International Inc. | 1.33% | 1,559,298 | $23.3M | Reduce -1.6% |
| DGII Digi International Inc. | 1.08% | 517,350 | $18.9M | Reduce -0.5% |
| CLNE Clean Energy Fuels Corp. | 1.03% | 7,013,776 | $18.1M | Reduce -19.8% |
| BC Brunswick Corp. | 0.98% | 270,628 | $17.1M | Reduce -0.5% |
| EEFT Euronet Worldwide Inc. | 0.69% | 136,800 | $12.0M | New |
| ZWS Zurn Elkay Water Solutions C | 0.29% | 108,942 | $5.1M | Reduce -0.4% |
| ENS Enersys | 0.29% | 44,351 | $5.0M | Add +20.0% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.28% | 175,282 | $4.8M | Add +7.5% |
| VMI Valmont Industries | 0.27% | 12,098 | $4.7M | Add +28.7% |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 0.22% | 24,951 | $3.9M | Reduce -24.7% |
| CSTE Caesarstone Ltd. | 0.21% | 2,335,605 | $3.7M | Reduce -22.3% |
| AGM Federal Agric MTG Corp. Class C | 0.16% | 16,907 | $2.8M | Add +11.9% |
| BCPC Balchem Corp. | 0.15% | 18,059 | $2.7M | No change |
| POWI Power Integrations Inc. | 0.15% | 67,137 | $2.7M | No change |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.15% | 36,319 | $2.7M | Add +48.7% |
| LMB Limbach Holdings Inc. | 0.15% | 26,752 | $2.6M | Add +88.3% |
| MWA Mueller Water Products Inc. Class A | 0.14% | 93,249 | $2.4M | No change |
| BFAM Bright Horizons Family Solut | 0.12% | 19,293 | $2.1M | Add +58.2% |
| PCRX Pacira Biosciences Inc. | 0.12% | 79,460 | $2.0M | No change |
| LRN Stride Inc. | 0.10% | 11,294 | $1.7M | Reduce -50.9% |
| BLKB Blackbaud Inc. | 0.06% | 17,455 | $1.1M | New |
| VCEL Vericel Corp. | 0.06% | 34,558 | $1.1M | Reduce -34.8% |
| HAE Haemonetics Corp. | 0.06% | 19,853 | $968K | Reduce -27.7% |
| COLD Americold Realty Trust Inc. | 0.03% | 43,622 | $534K | Reduce -41.1% |
Portfolio Sells Q2 2025 → Q3 2025
| ORA Ormat Technologies Inc. | Reduce -16.4% | 9.62% | −1.22 |
| VRNT Verint Systems Inc. | Reduce -25.4% | 2.13% | −0.90 |
| RLI Rli Corp. | Reduce -15.1% | 1.73% | −0.73 |
| FSS Federal Signal Corp. | Reduce -17.1% | 3.17% | −0.56 |
| CW Curtiss-Wright Corp. | Reduce -17.7% | 2.65% | −0.51 |
| FPI Farmland Partners Inc. | Reduce -9.6% | 1.81% | −0.50 |
| LMNR Limoneira Co. | Reduce -1.8% | 2.70% | −0.46 |
| WTFC Wintrust Financial Corp. | Reduce -17.6% | 1.92% | −0.46 |
| GPOR Gulfport Energy Corp. | Reduce -0.5% | 1.68% | −0.37 |
| SII Sprott Inc. | Reduce -21.5% | 2.06% | −0.32 |
| ATNI Atn International Inc. | Reduce -1.6% | 1.33% | −0.27 |
| DIOD Diodes Inc. | Reduce -0.5% | 2.56% | −0.23 |
| ANIP Ani Pharmaceuticals Inc. | Reduce -26.9% | 3.30% | −0.21 |
| PRMB Primo Brands Corp. | Sold out | 0.00% | −0.19 |
| CSTE Caesarstone Ltd. | Reduce -22.3% | 0.21% | −0.16 |
| RUSHA Rush Enterprises Inc. Class A | Reduce -0.5% | 2.57% | −0.14 |
| DNOW Dnow Inc. | Reduce -0.5% | 1.77% | −0.12 |
| LRN Stride Inc. | Reduce -50.9% | 0.10% | −0.11 |
| PRAA Pra Group Inc. | Reduce -0.5% | 1.85% | −0.09 |
| VCEL Vericel Corp. | Reduce -34.8% | 0.06% | −0.08 |
| HAE Haemonetics Corp. | Reduce -27.7% | 0.06% | −0.07 |
| CCOI Cogent Communications Holdin | Sold out | 0.00% | −0.07 |
| DGII Digi International Inc. | Reduce -0.5% | 1.08% | −0.05 |
| COLD Americold Realty Trust Inc. | Reduce -41.1% | 0.03% | −0.05 |
| CVSA Covista Inc. | Reduce -24.7% | 0.22% | −0.04 |
| GXO Gxo Logistics Inc. | Reduce -0.5% | 3.50% | −0.03 |
| CLNE Clean Energy Fuels Corp. | Reduce -19.8% | 1.03% | −0.03 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −0.02 |
| EXP Eagle Materials Inc. | Reduce -5.7% | 1.94% | −0.01 |
| BC Brunswick Corp. | Reduce -0.5% | 0.98% | +0.04 |
| ZWS Zurn Elkay Water Solutions C | Reduce -0.4% | 0.29% | +0.04 |
| SANM Sanmina Corp. | Reduce -6.1% | 5.37% | +0.07 |
| UMBF Umb Financial Corp. | Reduce -0.1% | 4.36% | +0.13 |
| ACIW Aci Worldwide Inc. | Reduce -0.5% | 2.82% | +0.13 |
| AWI Armstrong World Industries | Reduce -0.5% | 1.91% | +0.18 |
| THRM Gentherm Inc. | Reduce -0.5% | 2.15% | +0.19 |
| GNTX Gentex Corp. | Reduce -0.5% | 1.41% | +0.21 |
| RYN Rayonier Inc. | Reduce -0.5% | 2.57% | +0.21 |
| EVR Evercore Inc. Class A | Reduce -0.6% | 3.13% | +0.38 |
Portfolio Buys Q2 2025 → Q3 2025
| SCZ iShares MSCI Eafe Small-Cap | New | 3.92% | +3.92 |
| RDNT Radnet Inc. | Add +12.0% | 3.06% | +0.83 |
| EEFT Euronet Worldwide Inc. | New | 0.69% | +0.69 |
| GENI Genius Sports Ltd. | Add +12.8% | 3.35% | +0.63 |
| AA Alcoa Corp. | Add +31.6% | 2.44% | +0.62 |
| SAM Boston Beer Company Inc. Class A | Add +15.3% | 1.59% | +0.23 |
| ENS Enersys | Add +20.0% | 0.29% | +0.09 |
| VMI Valmont Industries | Add +28.7% | 0.27% | +0.08 |
| NXT Nextpower Inc. | Add +48.7% | 0.15% | +0.07 |
| BLKB Blackbaud Inc. | New | 0.06% | +0.06 |
| ONT Onterris Inc. | Add +7.5% | 0.28% | +0.05 |
| BFAM Bright Horizons Family Solut | Add +58.2% | 0.12% | +0.03 |
| LMB Limbach Holdings Inc. | Add +88.3% | 0.15% | +0.02 |
| AGM Federal Agric MTG Corp. Class C | Add +11.9% | 0.16% | −0.02 |
| GMED Globus Medical Inc. Class A | Add +8.6% | 3.75% | −0.13 |
| CWST Casella Waste Systems Inc. Class A | Add +9.0% | 3.11% | −0.68 |
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 |