SEC 13F Intelligence

Managers / Q4 2021 · view latest →

Global Alpha Capital Management Ltd.

CIK 0001584691 · 1800 MCGILL COLLEGE AVENUE, SUITE 1300, MONTREAL, A8, H3A 3J6 · 514-490-2779

Reported Value
$1.0B
Q4 2021
Positions
34
Filings on Record
30
2019–present window
Filed
Feb 10, 2022
original filing

Summary

Global Alpha Capital Management Ltd. reported $1.0B in U.S.-listed holdings across 34 positions for Q4 2021.

Its largest position, HNM, represents 16.2% of the portfolio.

Compared with Q3 2021, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+6.6%
vs prior filed quarter
Top-10 Concentration
+54.2%
share of reported value
Largest Position
+16.2%
Ormat Technologies
New / Exited
1 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $387MQ4 ’18Q1 ’19: $524MQ2 ’19: $575MQ3 ’19: $578MQ4 ’19: $674MQ4 ’19Q1 ’20: $554MQ2 ’20: $630MQ3 ’20: $651MQ4 ’20: $816MQ4 ’20Q1 ’21: $855MQ2 ’21: $922MQ3 ’21: $900MQ4 ’21: $1.0BQ4 ’21Q1 ’22: $1.2BQ2 ’22: $927MQ3 ’22: $1.0BQ4 ’22: $1.0BQ4 ’22Q1 ’23: $1.1BQ2 ’23: $1.1BQ3 ’23: $996MQ4 ’23: $1.2BQ4 ’23Q1 ’24: $1.3BQ2 ’24: $1.4BQ3 ’24: $1.5BQ4 ’24: $1.4BQ4 ’24Q1 ’25: $1.4BQ2 ’25: $1.6BQ3 ’25: $1.7BQ4 ’25: $1.6BQ4 ’25Q1 ’26: $1.7Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.8%Other: 9.4%REIT: 4.8%
  • Common Stock · 85.8% · $886M
  • Other · 9.4% · $97M
  • REIT · 4.8% · $50M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LASRNLIGHT INCNEW+480.6K480.6K+$12M$12M
BSFAANI PHARMACEUTICALS INCADDED+220.4K284.8K+$11M$13M
MIMECAST LTDSOLD OUT−271.5K0−$17M$0
INMODE LTDSOLD OUT−76.6K0−$12M$0
ENVUSDENVESTNET INCADDED+71.0K192.0K+$6M$15M
RLIRLI CORPADDED+34.4K120.0K+$5M$13M
BCBUSDPRIMO WATER CORPORATIONADDED+375.9K1.50M+$9M$27M
HNMORMAT TECHNOLOGIES INCADDED+506.0K2.16M+$56M$167M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2021

34 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1HNMORMAT TECHNOLOGIES INChistory →COM16.20%$167M2.16M
2CSVCARRIAGE SVCS INChistory →COM5.58%$58M893.7K
3AUDIOCODES LTDORD5.42%$56M1.60M
4PRAAPRA GROUP INChistory →COM4.45%$46M913.8K
5UMBFUMB FINL CORPhistory →COM4.23%$44M411.5K
6TSAACI WORLDWIDE INChistory →COM4.12%$42M1.22M
7EXPEAGLE MATLS INChistory →COM3.78%$39M234.4K
8VTYVERINT SYS INChistory →COM3.64%$38M716.3K
9MPAAMOTORCAR PTS AMER INChistory →COM3.41%$35M2.06M
10ATNIATN INTL INChistory →COM3.41%$35M879.8K
11WF2WINTRUST FINL CORPhistory →COM3.35%$35M380.8K
12FPIFARMLAND PARTNERS INChistory →COM3.19%$33M2.76M
13RDNTRADNET INChistory →COM2.81%$29M963.7K
14LMNRLIMONEIRA COhistory →COM2.74%$28M1.88M
15BCBUSDPRIMO WATER CORPORATIONhistory →COM2.57%$27M1.50M
16CAESARSTONE LTDORD SHS2.43%$25M2.21M
17OMCLOMNICELL COMhistory →COM2.34%$24M133.8K
18CLNECLEAN ENERGY FUELS CORPhistory →COM2.20%$23M3.71M
19FSSFEDERAL SIGNAL CORPhistory →COM2.16%$22M513.9K
20ETDETHAN ALLEN INTERIORS INChistory →COM2.03%$21M795.0K
21QA4AGENTHERM INChistory →COM1.85%$19M219.3K
223TYTITAN MACHY INChistory →COM1.74%$18M532.0K
23RYNRAYONIER INChistory →COM1.62%$17M415.1K
24GMEDGLOBUS MED INChistory →CL A1.53%$16M219.1K
25COGNYTE SOFTWARE LTDORD SHS1.51%$16M997.8K
26LNNLINDSAY CORPhistory →COM1.50%$15M101.6K
27ENVUSDENVESTNET INChistory →COM1.48%$15M192.0K
28CRNCCERENCE INChistory →COM1.43%$15M193.2K
29EBSEMERGENT BIOSOLUTIONS INChistory →COM1.39%$14M330.3K
30RLIRLI CORPhistory →COM1.30%$13M120.0K
31BSFAANI PHARMACEUTICALS INChistory →COM1.27%$13M284.8K
32OSISKO GOLD ROYALTIES LTDCOM1.17%$12M985.6K
33LASRNLIGHT INChistory →COM1.12%$12M480.6K
34CCSCENTURY CMNTYS INChistory →COM1.04%$11M131.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.7B54May 11, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.6B56Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.7B56Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.6B56Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.4B58May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.4B56Feb 7, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.5B57Nov 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.4B57Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.3B55May 8, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.2B54Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$996M36Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.1B33Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.1B34May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.0B34Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.0B35Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$927M35Aug 5, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.2B35May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.0B34Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$900M35Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$922M34Aug 2, 202113F-HRchanges · EDGAR ↗
Q1 2021$855M34Apr 30, 202113F-HRchanges · EDGAR ↗
Q4 2020$816M35Feb 10, 202113F-HRchanges · EDGAR ↗
Q3 2020$651M36Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$630M34Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$554M40May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$674M37Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$578M37Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$575M38Aug 7, 201913F-HRchanges · EDGAR ↗
Q1 2019$524M37May 8, 201913F-HRchanges · EDGAR ↗
Q4 2018$387M34Feb 11, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.