Global Alpha Capital Management Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Global Alpha Capital Management Ltd. reported 56 stock positions worth $1.6 billion. Its top holding was Ormat Technologies (ORA) at 11.6% of the portfolio, followed by Sanmina (SANM, 5.2%) and Umb Financial (UMBF, 4.4%). Compared with Q3 2025, it opened 9 new positions, sold out of 9, added to 11 and reduced 35. The biggest buy was a new position in Boyd Group Services (BGSI) and the biggest sale an exit from iShares MSCI Eafe Small-Cap (SCZ).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001584691
- Portfolio Value
- $1.6B (Q4 2025)
- SEC Filing
- 0001584691-26-000004 ↗ filed Feb 11, 2026
Holdings Value
Holdings 56 stocks · $1.6B
| ORA Ormat Technologies Inc. | 11.57% | 1,720,503 | $189.7M | Reduce -1.6% |
| SANM Sanmina Corp. | 5.17% | 564,632 | $84.7M | Reduce -30.8% |
| UMBF Umb Financial Corp. | 4.44% | 632,216 | $72.7M | Reduce -1.8% |
| GMED Globus Medical Inc. Class A | 3.55% | 666,696 | $58.2M | Reduce -41.8% |
| AA Alcoa Corp. | 3.42% | 1,054,451 | $56.0M | Reduce -18.7% |
| RUSHA Rush Enterprises Inc. Class A | 3.33% | 1,012,486 | $54.6M | Add +20.6% |
| BGSI Boyd Group Services Inc. | 3.11% | 319,783 | $50.9M | New |
| FSS Federal Signal Corp. | 2.89% | 436,004 | $47.3M | Reduce -6.6% |
| ANIP Ani Pharmaceuticals Inc. | 2.84% | 590,135 | $46.6M | Reduce -6.4% |
| GXO Gxo Logistics Inc. | 2.81% | 876,476 | $46.1M | Reduce -24.4% |
| GENI Genius Sports Ltd. | 2.63% | 3,911,462 | $43.1M | Reduce -17.4% |
| DIOD Diodes Inc. | 2.57% | 855,090 | $42.2M | Add +1.6% |
| EVR Evercore Inc. Class A | 2.48% | 119,657 | $40.7M | Reduce -26.3% |
| GPOR Gulfport Energy Corp. | 2.44% | 191,991 | $39.9M | Add +18.3% |
| EXP Eagle Materials Inc. | 2.43% | 192,746 | $39.8M | Add +32.7% |
| SII Sprott Inc. | 2.42% | 404,639 | $39.6M | Reduce -6.7% |
| THRM Gentherm Inc. | 2.29% | 1,030,673 | $37.5M | Reduce -6.6% |
| LMNR Limoneira Co. | 2.25% | 2,926,713 | $36.9M | Reduce -8.1% |
| DNOW Dnow Inc. | 2.24% | 2,774,871 | $36.8M | Add +37.0% |
| RYN Rayonier Inc. | 2.19% | 1,657,545 | $35.9M | Reduce -2.0% |
| RDNT Radnet Inc. | 2.12% | 488,169 | $34.8M | Reduce -30.5% |
| PRAA Pra Group Inc. | 2.12% | 1,962,684 | $34.7M | Reduce -6.6% |
| ATNI Atn International Inc. | 2.03% | 1,456,998 | $33.2M | Reduce -6.6% |
| WTFC Wintrust Financial Corp. | 2.02% | 236,284 | $33.0M | Reduce -6.7% |
| CWST Casella Waste Systems Inc. Class A | 1.96% | 328,332 | $32.2M | Reduce -42.8% |
| ACIW Aci Worldwide Inc. | 1.93% | 662,783 | $31.7M | Reduce -29.1% |
| COLD Americold Realty Trust Inc. | 1.92% | 2,453,522 | $31.6M | Add +5524.5% |
| AWI Armstrong World Industries | 1.86% | 159,479 | $30.5M | Reduce -6.3% |
| RLI Rli Corp. | 1.69% | 433,449 | $27.7M | Reduce -6.7% |
| BC Brunswick Corp. | 1.49% | 328,523 | $24.4M | Add +21.4% |
| SAM Boston Beer Company Inc. Class A | 1.46% | 123,028 | $24.0M | Reduce -6.2% |
| CAE Cae Inc. | 1.34% | 720,900 | $21.9M | New |
| KWR Quaker Chemical Corporation | 1.29% | 153,900 | $21.1M | New |
| REZI Resideo Technologies Inc. | 1.28% | 595,800 | $20.9M | New |
| DGII Digi International Inc. | 1.28% | 482,914 | $20.9M | Reduce -6.7% |
| EEFT Euronet Worldwide Inc. | 1.11% | 238,063 | $18.1M | Add +74.0% |
| CVLT Commvault Systems Inc. | 1.08% | 140,900 | $17.7M | New |
| GNTX Gentex Corp. | 1.01% | 708,431 | $16.5M | Reduce -18.9% |
| FPI Farmland Partners Inc. | 0.88% | 1,496,785 | $14.5M | Reduce -48.5% |
| CLNE Clean Energy Fuels Corp. | 0.84% | 6,544,589 | $13.7M | Reduce -6.7% |
| VMI Valmont Industries | 0.30% | 12,058 | $4.9M | Reduce -0.3% |
| ENS Enersys | 0.25% | 28,051 | $4.1M | Reduce -36.8% |
| ONT Onterris Inc. filed as MONTROSE ENVIRONMENTAL GROUP | 0.22% | 143,382 | $3.6M | Reduce -18.2% |
| NXT Nextpower Inc. | 0.20% | 37,019 | $3.2M | Add +1.9% |
| ZWS Zurn Elkay Water Solutions C | 0.19% | 67,242 | $3.1M | Reduce -38.3% |
| BCPC Balchem Corp. | 0.19% | 20,259 | $3.1M | Add +12.2% |
| AGM Federal Agric MTG Corp. Class C | 0.18% | 16,907 | $3.0M | No change |
| MWA Mueller Water Products Inc. Class A | 0.14% | 92,949 | $2.2M | Reduce -0.3% |
| CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC | 0.11% | 17,651 | $1.8M | Reduce -29.3% |
| VCEL Vericel Corp. | 0.11% | 50,058 | $1.8M | Add +44.9% |
| PCRX Pacira Biosciences Inc. | 0.11% | 68,360 | $1.8M | Reduce -14.0% |
| CERT Certara Inc. | 0.09% | 172,700 | $1.5M | New |
| BLKB Blackbaud Inc. | 0.06% | 14,255 | $903K | Reduce -18.3% |
| VITL Vital Farms Inc. | 0.04% | 21,400 | $684K | New |
| SEDG Solaredge Technologies Inc. | 0.04% | 21,000 | $606K | New |
| ATAT Atour Lifestyle Holdings-ADR | 0.01% | 5,570 | $219K | New |
Portfolio Sells Q3 2025 → Q4 2025
| SCZ iShares MSCI Eafe Small-Cap | Sold out | 0.00% | −3.92 |
| CW Curtiss-Wright Corp. | Sold out | 0.00% | −2.65 |
| VRNT Verint Systems Inc. | Sold out | 0.00% | −2.13 |
| CWST Casella Waste Systems Inc. Class A | Reduce -42.8% | 1.96% | −1.15 |
| RDNT Radnet Inc. | Reduce -30.5% | 2.12% | −0.94 |
| FPI Farmland Partners Inc. | Reduce -48.5% | 0.88% | −0.92 |
| ACIW Aci Worldwide Inc. | Reduce -29.1% | 1.93% | −0.89 |
| GENI Genius Sports Ltd. | Reduce -17.4% | 2.63% | −0.72 |
| GXO Gxo Logistics Inc. | Reduce -24.4% | 2.81% | −0.69 |
| EVR Evercore Inc. Class A | Reduce -26.3% | 2.48% | −0.65 |
| ANIP Ani Pharmaceuticals Inc. | Reduce -6.4% | 2.84% | −0.46 |
| LMNR Limoneira Co. | Reduce -8.1% | 2.25% | −0.45 |
| GNTX Gentex Corp. | Reduce -18.9% | 1.01% | −0.41 |
| RYN Rayonier Inc. | Reduce -2.0% | 2.19% | −0.38 |
| FSS Federal Signal Corp. | Reduce -6.6% | 2.89% | −0.29 |
| CSTE Caesarstone Ltd. | Sold out | 0.00% | −0.21 |
| GMED Globus Medical Inc. Class A | Reduce -41.8% | 3.55% | −0.20 |
| SANM Sanmina Corp. | Reduce -30.8% | 5.17% | −0.20 |
| CLNE Clean Energy Fuels Corp. | Reduce -6.7% | 0.84% | −0.20 |
| POWI Power Integrations Inc. | Sold out | 0.00% | −0.15 |
| LMB Limbach Holdings Inc. | Sold out | 0.00% | −0.15 |
| SAM Boston Beer Company Inc. Class A | Reduce -6.2% | 1.46% | −0.12 |
| BFAM Bright Horizons Family Solut | Sold out | 0.00% | −0.12 |
| CVSA Covista Inc. | Reduce -29.3% | 0.11% | −0.11 |
| ZWS Zurn Elkay Water Solutions C | Reduce -38.3% | 0.19% | −0.10 |
| LRN Stride Inc. | Sold out | 0.00% | −0.10 |
| ONT Onterris Inc. | Reduce -18.2% | 0.22% | −0.06 |
| HAE Haemonetics Corp. | Sold out | 0.00% | −0.06 |
| AWI Armstrong World Industries | Reduce -6.3% | 1.86% | −0.05 |
| RLI Rli Corp. | Reduce -6.7% | 1.69% | −0.04 |
| ENS Enersys | Reduce -36.8% | 0.25% | −0.04 |
| BLKB Blackbaud Inc. | Reduce -18.3% | 0.06% | −0.01 |
| PCRX Pacira Biosciences Inc. | Reduce -14.0% | 0.11% | −0.01 |
| MWA Mueller Water Products Inc. Class A | Reduce -0.3% | 0.14% | −0.00 |
| VMI Valmont Industries | Reduce -0.3% | 0.30% | +0.03 |
| UMBF Umb Financial Corp. | Reduce -1.8% | 4.44% | +0.08 |
| WTFC Wintrust Financial Corp. | Reduce -6.7% | 2.02% | +0.10 |
| THRM Gentherm Inc. | Reduce -6.6% | 2.29% | +0.14 |
| DGII Digi International Inc. | Reduce -6.7% | 1.28% | +0.20 |
| PRAA Pra Group Inc. | Reduce -6.6% | 2.12% | +0.26 |
| SII Sprott Inc. | Reduce -6.7% | 2.42% | +0.36 |
| ATNI Atn International Inc. | Reduce -6.6% | 2.03% | +0.69 |
| AA Alcoa Corp. | Reduce -18.7% | 3.42% | +0.98 |
| ORA Ormat Technologies Inc. | Reduce -1.6% | 11.57% | +1.96 |
Portfolio Buys Q3 2025 → Q4 2025
| BGSI Boyd Group Services Inc. | New | 3.11% | +3.11 |
| COLD Americold Realty Trust Inc. | Add +5524.5% | 1.92% | +1.89 |
| CAE Cae Inc. | New | 1.34% | +1.34 |
| KWR Quaker Chemical Corporation | New | 1.29% | +1.29 |
| REZI Resideo Technologies Inc. | New | 1.28% | +1.28 |
| CVLT Commvault Systems Inc. | New | 1.08% | +1.08 |
| RUSHA Rush Enterprises Inc. Class A | Add +20.6% | 3.33% | +0.77 |
| GPOR Gulfport Energy Corp. | Add +18.3% | 2.44% | +0.76 |
| BC Brunswick Corp. | Add +21.4% | 1.49% | +0.51 |
| EXP Eagle Materials Inc. | Add +32.7% | 2.43% | +0.49 |
| DNOW Dnow Inc. | Add +37.0% | 2.24% | +0.48 |
| EEFT Euronet Worldwide Inc. | Add +74.0% | 1.11% | +0.42 |
| CERT Certara Inc. | New | 0.09% | +0.09 |
| VCEL Vericel Corp. | Add +44.9% | 0.11% | +0.05 |
| NXT Nextpower Inc. | Add +1.9% | 0.20% | +0.04 |
| VITL Vital Farms Inc. | New | 0.04% | +0.04 |
| SEDG Solaredge Technologies Inc. | New | 0.04% | +0.04 |
| BCPC Balchem Corp. | Add +12.2% | 0.19% | +0.03 |
| DIOD Diodes Inc. | Add +1.6% | 2.57% | +0.01 |
| ATAT Atour Lifestyle Holdings-ADR | New | 0.01% | +0.01 |
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 |